In testimony before the House Banking Committee, a representative of EDS admitted that the company is not yet compliant. But it's working it in. It will be ready for testing . . . by now, you know. December 31, 1998.
EDS will not be y2k-compliant. But it will be y2k-tolerant. Read the entirte testimony to find out what, exactly, y2k-tolerant means. If you can figure it out, let me know. I can't.
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We can now report that all substantial changes to ensure that EDS' financial institution systems are Year 2000 tolerant will be completed by December 31, 1998. Additionally, we are in the process of compiling an inventory from our vendors of their Year 2000 strategies to ensure compatibility with those interfaces.
Let me take a moment to draw the distinction between "Year 2000 compliant" and "Year 2000 tolerant," which we believe is more useful term. As we use the term, a data processing system may be Year 2000 tolerant -- that is, it will accommodate Year 2000 dates and provide correct information -- but may not be compliant in the usual sense of the term.