Banking Department

Y2K Compliance: Bank Monitoring Systems

The Banking Department maintains the automated Banking Organization Supervisory System, which contains information about the institutions regulated by the Department. The Department also maintains the automated Criminal Investigation Bureau System, which contains information about potentially illegal financial transactions. We reviewed the actions taken by the Department in attempting to ensure that activities dependent on these systems are not significantly disrupted because of data processing difficulties related to the year 2000. We found the Department is taking many of the actions needed to prevent such difficulties. However, the remediation efforts for the Criminal Investigation Bureau System are not fully documented, and additional progress is needed on the contingency plans for both systems to ensure that services are not disrupted if data processing difficulties are encountered in relation to the year 2000.

For a complete copy of Report 99-Y-15 click here.