' J.P. Morgan Year 2000 Readiness Questionnaire
Fourth-quarter 1998
Year 2000 readiness is a critical business requirement. The questionnaire below addresses J.P. Morgan's
readiness. We are also interested in our customer's appreciation of the implications of the Year 2000 issue
on their own business. To this end, as well as to comply with recently published Federal Financial Institutions
Examination Council (FFIEC) guidelines, we sent this questionnaire to our clients and asked their assistance
in completing it.
Has J. P. Morgan dedicated full time resources to implement a Year 2000 compliance effort?
Yes, and we have dedicated internal resources to the effort and we have hired external resources to assist in
the effort.
Does this team have a dedicated, full-time manager?
Yes.
To whom does this individual report?
Chief Information Officer (CIO).
Does J.P. Morgan have a formal plan supporting our Year 2000 compliance effort?
Yes, and it has been approved by the Board of Directors.
Which of the phases listed below does Morgan's plan include, and what is J.P. Morgan's time
frame for completing each phase?
What is the current frequency of Year 2000 status reporting to J.P. Morgan's directors and senior
managers?
Does J.P. Morgan have an inventory of the major applications, hardware and software products in
our organization?
Yes.
What percentage of J.P. Morgan's total applications are mission critical?
10-25%.
When does J.P. Morgan expect to fully achieve Year 2000 Compliance of our mission critical
applications?
Does J.P. Morgan have a program in place to assess and manage Year 2000 risk associated with:
Facilities controls & equipment (HVAC, access security, elevators, fire alarms, etc.)?
Yes.
Dependencies or relationships with key suppliers and vendors of your company?
Yes.
Infrastructure connections (telecommunications, gas, electricity, water, etc.)?
Yes.
Which dates are included in J.P. Morgan's testing?
September 9, 1999.
Rollover from last business day of 1999 to first business day of 2000.
Rollover from February 28, 2000 through first business day of March (to include leap year
processing).
Which methods does J.P. Morgan's internal systems use to handle 2-digit years?
Interpretation/Windowing
Expansion
Replacement
Has J.P. Morgan considered the potential impact of Year 2000 on our clients' ability to continue
operations and meet their obligations?
Yes, for our largest clients.
Does J.P. Morgan plan to renovate and test critical external interfaces?
Yes, with:
customers
suppliers
third party vendors and service providers
banks and financial institutions
industry-wide testing
What is the total 1997-2000 expense estimated to achieve Year 2000 compliance by J.P. Morgan
(this estimate includes all direct, Year 2000-related business and technology expenses during this
period)?
J.P. Morgan sees the following as potential barriers to successfully completing your Year 2000
Program:
Preparation for European Monetary Union conversion
Other competing projects
J.P. Morgan is working with industry groups to:
share information
coordinate testing
develop contingency plans
deal with regulatory matters
J.P. Morgan participates in these industry groups:
Global:
Global Year 2000 Coordinating Group
US:
New York Clearing House
Securities Industry Association
Futures Industry Association
UK:
British Bankers Association Interbank Markets Group
Futures and Options Association
Germany:
Landeszentralbank Year 2000 Working Group
Japan:
JSDA Year 2000 Committee
Hong Kong:
Hong Kong Securities Working Group
Hong Kong Association of Banks
Singapore:
Monetary Authority of Singapore Year 2000 Task Force Committee
Australia:
Y2000 Interbank Working Group
Federal Government Y2000 Committee
Argentina:
Banks Association (ABRA) Y2000 Committee
SIA International Committee-Latin America Section
Brazil:
Bankers Association (FEBRABRAN) Y2000 Committee
SIA International Committee-Latin America Section
Mexico:
Y2000 transition committee sponsored by Banco de Mexico (Central Bank)
SIA International Committee-Latin America Section
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