Central Banker - Spring 1999

Spring 1999
News and Views
for
Eighth District Bankers

cdc Century Date Change Readiness Hits Critical Strength

This issue of Central Banker examines some of the most important aspects of CDC preparation for financial institutions (see checklist).

Fed Forms Financial Services Advisory Group

The St. Louis Fed has established a District-wide Financial Services Advisory Group to facilitate the exchange of ideas relative to payments system issues.

Fed Asks Institutions to Review CDC Contingency Funding

As part of preparations for Century Date Change (CDC) compliance, institutions may wish to consider making the Fed's Discount Window one of their liquidity sources.

Fed to Increase Cash Inventory for Year 2000

Toward the end of the year, the Federal Reserve plans to increase the amount of currency in circulation by about 14 percent over current levels as a result of Year 2000 uncertainty.

Fed Monitoring International Preparation for Century Date Change

Although U.S. offices of foreign banks lag behind U.S. financial institutions in planning and testing for the Year 2000, these banks have made good progress in recent months.

Reserve Requirements and Monetary Policy

Robert H. Rasche, the new senior vice president and director of the Research Division at the St. Louis Fed, discusses the effects of reserve requirement changes over the past decade.

Report Summarizes ACH Attitudes Study

The Fed recently mailed to financial institutions a summary report of a comprehensive study on peoples' attitudes toward electronic payments.

Feditorial: Preparation + Communication = Extermination of CDC Bug

W. LeGrande Rives, first vice president of the St. Louis Fed, explains why thoroughly testing computer systems and communicating a positive message about the CDC bug will enable banks to avoid major disruptions.

Regional Roundup

Fed Facts

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Stephen.P.Greene@stls.frb.org