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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: Ken who wrote (6906)	7/21/1999 5:24:00 PM
From: Bald Eagle	Read Replies (2) \| Respond to of 9818

Did you ever work as a programmer? Somehow, I don't think so.

To: Ken who wrote (6906)	7/21/1999 5:57:00 PM
From: Hawkmoon	Respond to of 9818

If I throw a stick, will you leave?

To: Ken who wrote (6906)	7/21/1999 6:15:00 PM
From: Ken	Respond to of 9818

Back to meaningful postings(please Ron)hopefully.<FED Officials Debate: Will an Extra 10% in Currency Save the Banking System? boston.com. Will $200 billion do it? Or will the Federal Reserve System need $220 billion? Enquiring bankers want to know! The Federal Reserve System needs what every industry needs and doesn't have: compliance horizontally -- company to company -- and compliance vertically: suppliers to consumers. No industry has this. It's late July. Only the world's oldest profession is compliant, never having computerized. ("What's this credit card entry, dear?") the BOSTON GLOBE (July 20). * * * * * * * * * * * Federal Reserve officials yesterday said they might further adjust the supply of cash on hand at the end of the year to meet public expectations about the computer software problem known as Y2K. Typically, the Fed keeps about $150 billion in its vaults. In its annual currency order last August the Fed asked the Treasury Department to print up an extra $50 billion to cover possible withdrawals by people who fret that banks' systems and automatic teller machines might be interrupted by software glitches after Jan. 1, 2000. With the time for its next big currency order approaching next month, Fed officials now say they are studying whether to increase or decrease the $50 billion set-aside based on how seriously the public regards the threat of Y2K-related problems. . . . On the other hand, in an interview last week Paul Connolly, the Boston Fed's chief operating officer, suggested the total amount of extra cash kept on hand might go as high as $70 billion to help provide ''a super-abundance'' of money at the time of the date change. But other bank officials yesterday downplayed that figure. ''Nothing has changed in our overall assessment of the amount of cash that will be needed here,'' said Boston Fed spokesman Thomas L. Lavelle. ''In time we've become more optimistic about the other payment options remaining available and the general public becoming less concerned about the issue as a whole,'' Lavelle said. Rose Pianalto, spokeswoman for the Fed in Washington, said she doubted more extra cash would be ordered. ''So far there's no sign'' that banks have begun to seek extra cash to satisfy the needs of their customers, she said. . . . BankBoston economist Wayne Ayers said he would be comfortable even if the Fed winds up increasing the money supply. ''They're in uncharted territory as far as what people will do, so it's better to be safe than sorry,'' Ayers said. Even if the cash isn't demanded by customers, Ayers said, the Treasury Department can put the extra funds into circulation later on.