Circular
Year 2000 Conference "Assessing Year 2000 Credit Risks" - Thursday, April 30, 1998
March 24, 1998
Circular No. 11039

To the Chief Executive Officers of All State Member Banks, Bank Holding Companies, Edge and Agreement Corporations, and Branches and Agencies of Foreign Banks, in the Second Federal Reserve District:

The Issue

Financial institutions in the Second Federal Reserve District are generally well into their programs to make their computer applications and operating systems ready for the Year 2000 century date change. Business lines are increasingly focusing on how their clients are affected by the Year 2000 and the progress that they are making. In many instances, assessing customer readiness is proving to be difficult, and factoring assessments into pricing and other credit related business decisions is not easy.

The Conference

In order to share what are emerging as sound practices in the area of Year 2000 credit assessments of customers, the Federal Reserve Bank of New York is sponsoring a conference on this topic. This conference will be held on Thursday, April 30, 1998, in Chase Manhattan Bank's Auditorium at One Chase Manhattan Plaza, Ground Floor (Nassau Street Entrance), New York City. The program will begin at 9:00 a.m. and last until 12:30 p.m.. Senior officials from the financial industry will share how they are dealing with assessing customer readiness.

The conference is designed for senior credit officers. While speakers are still being finalized, the structure of the conference is as follows:

The Year 2000 Credit Challenge
Robert A. O'Sullivan, Senior Vice President, Federal Reserve Bank of New York

Year 2000 Credit Issues and Sound Practices
Banking Industry Perspective
The Perspective from the Rating Agencies

Year 2000 Credit Review Process

  • Community Banks
  • Regional Banks
  • Money Center Banks
  • Foreign Based Banks
  • Syndicated Credits

Year 2000 Credit Risks in Perspective
William McDonough, President, Federal Reserve Bank of New York

Registration is free. However, because space is limited, we are asking that organizations limit attendance to two people. Please complete the attached form and fax it to (212) 720-2928 or (212)720-6236 to the attention of Ayn Patrick, or mail to Debra Capurso. Business Support Analyst, Bank Supervision Group, Federal Reserve Bank of New York, New York, NY 10045. Questions regarding the conference can be referred to Ms. Capurso. Registration confirmations and additional details on the program will be sent to you during the week of April 13.

Questions regarding Year 2000 issues can be directed to Sarah Dahlgren, Vice President, George Juncker, Vice President, William Francis, Examining Officer, or Thomas Wines, Examining Officer.


ASSESSING YEAR 2000 CREDIT RISK sponsored by the Federal Reserve Bank of New York

Thursday April 30, 1998
9:00 a.m.--12:30 p.m.

at the Chase Manhattan Bank Auditorium
One Chase Manhattan Plaza, Ground floor
(Nassau Street entrance)

FAX BACK REGISTRATION REQUEST FORM*
Please Return by Friday, April 17, 1998

If you have any questions, please contact Debra Capurso or Ayn Patrick.

Institutions:

Address:

*Registration is limited to two names per institution on a first come first served basis. All requests will be confirmed beginning the week of April 13th.