An employee with the Bank for International Settlements (BIS), the global banking agency, has tested positive for Covid-19.

The BIS announced that an employee at its headquarters in Basel, Switzerland, tested positive for the virus. The employee received medical treatment and is recovering at home, the BIS said.

The regulator said the nine co-workers who worked closely with the affected employee are now working at home as a precaution.

Almost all of its employees are now working remotely as well.

The BIS also cancelled all on-site meetings until the end of April, and business travel has been cancelled or postponed.

Critical meetings are being held via teleconference, it said.