Small banks address year 2000 challenge

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Pubblicato in:	American Bankers Association. ABA Banking Journal vol. 89, no. 9 (Sep 1997), p. 6-7
Autore principale:	Cocheo, Steve
Pubblicazione:	Naylor Communications Ltd.
Soggetti:	United States > US Year 2000 Computer programming Deadlines Liability insurance Banking industry Bank earnings Regulation of financial institutions
Accesso online:	Citation/Abstract Full Text Full Text - PDF
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Descrizione
Abstract:	Many computer programs used by banks record the date using only 2 digits. Unchanged, these programs, many of which calculate interest, loan terms, amortization schedules, and deposit maturities, will go haywire when the year 2000 arrives. At the extreme, computer systems may fail altogether. Federal regulators plan to assess every bank's conversion efforts and plans by mid-1998. Experts say companies have to be ready to test their systems by the end of September 1998 because 1999 will be the last year available for making major corrections.
ISSN:	0194-5947 2161-5101 0005-5492
Fonte:	ABI/INFORM Global