The BIS is the central banks' central bank. This report is not in HTML. It has to be read with Adobe Acrobat.
It warns that y2k is a very difficult problem to solve, yet it must be solved.
The question is: How?
The report begin with a warning of bankruptcy.
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The Year 2000 poses a significant challenge for financial institutions because many automated applications will cease to function normally as a result of the way date fields have been handled historically. Failure to address this issue in a timely manner would cause banking institutions to experience operational problems or even bankruptcy and could cause the disruption of financial markets. As a result, banking institutions must take the necessary steps to ensure that problems and disruptions are minimised.