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Technology Stocks : Y2K (Year 2000): Is Wall Street & Banking Vulnerable?
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To: C.K. Houston who wrote ()5/26/1999 10:16:00 PM
From: C.K. Houston   of 158
 
Silence is deafening as banks address Y2K
March 8 - DENVER BUSINESS JOURNAL

BARRING A MASS PANIC, the Federal Reserve can provide the liquidity banks need. But there aren't enough armored cars to deliver all that cash in the last two weeks of December ... Banks will need to gradually build their stockpiles and swallow the costs of carrying so much unused inventory. For bankers who know they are ready, that could seem a hard cost to justify.

One way around that is to pay customers making large withdrawals with cashier's checks or wire transfers, and the Colorado Bankers Association is researching the legality of doing just that. Most people assume they have the right to receive currency on demand. But banks have a legal right to offer other forms of payment, said Don Childears, CBA president. . . .
amcity.com

Cheryl

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