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Financial Institution Letter
Year 2000 Customer Awareness Guidance
May 13, 1998
Notes
 

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Interagency Guidance on Year 2000 Customer Awareness Programs

The Federal Financial Institutions Examination Council (FFIEC) has issued the attached statement with industry guidance on developing a customer awareness program to respond to inquiries and communicate with customers on Year 2000 issues. The statement supplements the FFIEC's statement "Safety and Soundness Guidelines Concerning the Year 2000 Business Risk," issued December 17, 1997.

The interagency statement emphasizes the importance of an effective system of communication between a financial institution and its customers. A customer awareness program should provide for the identification of types of customers and their specific information needs, as well as issues customers may be interested in discussing. In addition, each financial institution should train its employees to disseminate its message effectively.

The FFIEC is developing a customer brochure that will highlight the efforts of both financial institutions and the federal financial institution regulators in addressing the Year 2000 computer problem. The brochure will be available in June 1998.

The attached interagency statement and related information on Year 2000 issues are available on the Internet via the World Wide Web at /news/financial-institution-letters/ or http://www.ffiec.gov .

For further information, please contact your Division of Supervision regional office.

Nicholas J. Ketcha Jr.
Director

Attachment: FFIEC Interagency Statement

Distribution: Insured Banks (Commercial and Savings) and
Insured U.S. Branches of Foreign Banks

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or (703) 562-2200).


FIL-52-98
Last Updated: May 13, 1998