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Press Releases



FOR IMMEDIATE RELEASE
PR-1-2000 (1-1-2000)

Federal Deposit Insurance Corporation

Board of Governors of the Federal Reserve System

Office of the Comptroller of the Currency

Office of Thrift Supervision

National Credit Union Administration

Joint Release

Insured Financial Institutions Operating Normally
Following Century Date Change

WASHINGTON, D.C. -- On the first day of the Year 2000, the nationís banks, thrifts and credit unions are conducting business as usual, federal regulators said. No significant disruptions resulting from the century date change have been detected, the regulators added.

The Federal Deposit Insurance Corporation, the Federal Reserve Board, the Office of the Comptroller of the Currency, the Office of Thrift Supervision and the National Credit Union Administration are closely monitoring financial institution operating performance during the first week of the Year 2000.

The Federal Reserve reported that the nationís payment systems are functioning well and that currency supplies have been more than adequate to meet demand. Credit cards, debit cards, checks and automated teller machines are all working normally.

For the past three years, federal financial institution regulators have overseen the efforts of banks, thrifts and credit unions as they prepared their computer systems for the Year 2000 century date change.

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Media Contacts
FDIC: Phil Battey (202) 898-6993
OCC: Robert M. Garsson (202) 874-5770
Federal Reserve: Dave Skidmore (202) 452-3204
NCUA: Bob Loftus (703) 518-6331
OTS: Patricia Cinelli (202) 906-6677

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 10,291 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed.

FDIC press releases and other information, including today's quarterly listing, are available on the Internet at www.fdic.gov or through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).

 

Last Updated 1/1/2000 communications@fdic.gov