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.
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).