To the Chief Executive Officers of All Bank Holding Companies, Edge Act Corporations, and Branches and Agencies of Foreign Banks, in the Second Federal Reserve District:
The Federal Reserve Bank of New York will be sponsoring an informational session on Year 2000 event management planning for financial institutions. As financial organizations develop their contingency plans for dealing with the Year 2000, increasing attention is being placed on how the event will be managed internally and externally. Organizational decision making structures in conjunction with the accurate collection and dissemination of information are necessary for expedient problem identification and resolution.
The methodologies that are emerging to manage the Year 2000 event differ in significant ways from the usual business line communications and decision making structures because of the unique features associated with the century date change. In order to foster a better understanding of how organizations are addressing this critical element of contingency planning and to facilitate more cooperative efforts, the Federal Reserve Bank of New York has invited senior officials from the financial and regulatory community with well advanced contingency planning programs:
Chase Manhattan Bank,Brian Robbins
Senior Vice President
Citigroup, Jim Devlin
Morgan Stanley Dean Witter, Maggie Parent
Federal Reserve Board of Governors, Steve Schemering
The half day session will be offered on Thursday, March 11, 1999 in Chase Manhattan Bank's Auditorium at One Chase Manhattan Plaza, Ground Floor (Nassau Street Entrance), New York City. It will begin at 1:00 p.m. and last until 4:30 p.m. While registration is free, due to the limited seating capacity of the center, participation must generally be limited to two representatives per institution. A draft agenda and registration form for the session are enclosed for your convenience. Please complete the registration form and fax it to 212-720-6236 to the attention of Debra Capurso.
I look forward to seeing you and/or your representatives at the informational session and urge you to take advantage of this opportunity to participate in a discussion of this important issue. Questions regarding Year 2000 issues can be directed to George Juncker, Vice President.