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

To: Hawkmoon who wrote (5595)	4/29/1999 10:18:00 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 9818

A few news articles that were sent to via email: Japan Must Help Oil Producers On Y2K: Party Officials TOKYO (Nikkei)--Japan and other developed nations should discuss ways to help oil-producing countries of the Middle East prepare for possible year 2000 computer problems, the joint chairmen of an inter-party panel investigating the millennium bug told Prime Minister Keizo Obuchi on Friday. Keiji Furuya and Yoshio Suzuki, chairmen of the year 2000 investigation team of the Liberal Democratic and the Liberal parties, made the recommendation in a meeting with Obuchi at his official residence. The two said Japan's oil supply could be affected if computer problems occur and suggested the topic be brought up in June at the Group of Seven summit in Cologne, Germany. The year 2000 problem occurs when a computer misinterprets that year as 1900. (The Nihon Keizai Shimbun Saturday morning edition) ************************************************** Tuesday, April 27, 1999 BIS Considers 5-Day Suspension Of Bank Operations To Avoid Y2K Problems TOKYO (Nikkei)--The Bank for International Settlements will consider proposing that major countries suspend private bank operations for five consecutive days from Dec. 31 to avoid potential Year 2000 computer bug problems, sources said Monday. The plan comes in response to growing calls for more thorough preparations for possible millennium bug-related difficulties. The Financial Markets Association, a Paris-based organization of major banks, has also demanded financial transaction settlements be suspended from Dec. 31 through Jan. 4, 2000. Japanese financial institutions began conducting large-scale tests on system connections late last year. U.S. and European financial institutions are also proceeding with preparations. However, if computer malfunctions impede proper fund transfers, market liquidity would be thrown into disarray and worldwide concern over financial system instability could occur. Therefore, banks should suspend settlements over the year-end period, during which there is a high risk of computer malfunction, a major U.S. bank official said. Banks should check to make sure their computer systems work properly, the official added. If the proposal is adopted, Japanese banks will have to add Jan. 4, 2000, to their ordinary year-end/New Year holidays. The BIS plans to hold a meeting as early as May to discuss the matter. (The Nihon Keizai Shimbun Tuesday morning edition)