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To: Benny Baga who wrote (4249)	5/19/1998 11:02:00 AM
From: SeveCords	Read Replies (2) \| Respond to of 8545

My pleasure, but just to clarify something I said yesterday, the FDIC is the government agency that has mandated that all member banks and thrifts must be ready to test Y2K upgrades by September 1st. These tests must be completed by December 31st. This is for internal systems and for software that banks get from outside vendors. They have to be completed by June 30, 1999. A spokeswoman for Norwest Corp. recently told the "Red Chip Review" that their programmers are already correcting over 88 million lines of code. 85% of all their programs are purchased from outside vendors. Still, they have already budgeted $125 million for the project. Citicorp had $600 million budgeted for Y2K which was revealed when they disclosed their merger with Travelers. Now the question is how much do they already have budgeted for E-Bill and E-Pay?