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Technology Stocks : Discuss Year 2000 Issues

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To: Jeff Mizer who wrote (8534)	9/7/1999 6:41:00 PM
From: C.K. Houston	of 9818

66% Of U.S. Banks Receive 'High' Y2K Grades; Only 4.5% Rated 'Low' or 'Below Average' (WEISS-RATINGS - September 7) ... the Weiss results continue to contradict recently announced tallies by the FDIC -- that less than one percent of insured institutions have failed to achieve a "satisfactory" rating in their Y2K compliance evaluations. "This discrepancy remains a mystery to me," added Dr. Weiss. "We are using the regulators' exact guidelines. Therefore, regulators are either basing their statistics on old data or are giving banks some leeway in their evaluations. Either way, the end result is that consumers are not being given an accurate picture." ... While none of the very large banks surveyed by Weiss (with $1 billion or more in assets) received "Low" Y2K grades, banks such as Imperial Bank (Englewood, CA) and Lockport Savings Bank (Lockport, NY) were graded "Below Average" for their Y2K progress. The largest banks receiving a grade of "Average" include Bank of America (Charlotte, NC), Citibank (New York, NY), and Morgan Guaranty Trust Co. (New York, NY) [...] businesswire.com Cheryl 68 Federal Work Dates until Year 2000

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