century date change


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century date change

The change from 1999 to 2000. See Y2K problem.
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An important innovation that altered the institutional framework within which open market operations were conducted was made on July 20, when the Federal Reserve Board voted to establish a Century Date Change Special Liquidity Facility (SLF) for lending to depository institutions from October 1, 1999, through April 7, 2000.
addresses the agencies' supervisory approach to possible temporary balance sheet growth due to potential unusual market responses around the century date change.
The Reserve Banks and the Board have implemented test century date change (CDC) local area networks to verify the readiness of vendor-provided products and internal applications that operate in network-based computing environments.
In the final months before the new century date change, CCD is committed to helping its clients identify and correct these potentially fatal errors.
With the successful completion of these tests, we are confident that the century date change will not impact our ability to serve our clients' financial needs.
We are also updating proven plans and techniques used during other times of operational stress in order to be prepared to address potential century date change difficulties.
Equipment necessary for sustained operations at the end of the year is ready for the century date change," said William S.
Some of these participants indicated that they were currently faced with many competing priorities, including dealing with mergers and acquisitions, addressing the operational issues raised by the federal government's electronic payments initiative, and ensuring that they were compliant with the century date change.
State authorities, financial institutions and merchants can be confident that our systems are well prepared for the century date change.
While there are challenges before us, I can report that we expect to be fully prepared for the century date change.
These joint tests confirm the results of an enormous amount of preliminary Year 2000 testing we have conducted internally -- that call completion should not be affected by the century date change.