Speaking of sounding like North...
BIS (G10 Bank of International Settlements) has a fairly scarey document availible now...
bis.org
Excerpt:
It is possible, in the light of the enormous scale and range of financial market participants that certain applications may fail to operate smoothly on 1st January 2000. It is therefore important that all financial institutions, and in particular market bodies such as exchanges and clearing houses, develop appropriate contingency plans to deal with any interruptions to counterparty trades and payments.
Note:
G10 consists of Belgium, Canada, France, Germany, Italy, Japan, Luxembourg, Netherlands, Sweden, Switzerland, United Kingdom and the United States. The committe that wrote this came from G10 central banks and regulatory authorities. |
