What if the best bankers(?) are not ready for Y2K?:
BASEL, Switzerland (December 23, 1998 3:39 p.m. EST nandotimes.com) - The Swiss Bankers Association Wednesday advised its members not to handle any payment orders, including stock exchange transactions, over four days straddling the start of the new millennium.
However, the recommendation to stop such operations from Dec. 31, 1999 to Jan. 3, 2000, would not affect automated machine cash withdrawals or credit card use, the SBA said in a statement.
The SBA issued the advise after consultations with a number of parties including the Federal Banking Commission, the Swiss central bank, and the Swiss Stock Exchange.
The halt of all order payments over the four-day period would allow banks to settle their annual accounts before the millennium change.
It would also give them three straight days to check their computer systems and programmes and correct any defects that might occur, the SBA said.
Payment and share transaction orders over the four days would be treated as if they fell on holidays.
All orders after the start of the new century would not be processed until Jan. 4, 2000 at the earliest, the SBA said.
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