Year 2000 - So Far So Good

Financial sector preparations for the Year 2000 have so far been shown to have been effective.
Published on 03 January 2000

Very few Y2K problems have been reported and those that have occurred have been resolved quickly.

David Clementi (Deputy Governor for Financial Stability) said:

"We are pleased with the results so far. A huge amount of preparation was undertaken by the UK financial sector which has ensured the successful transition through the date change. Only a few minor glitches have been reported. More are likely to come to light over the next few days and weeks but these should be able to be resolved quickly. So far so good, but it is too early to declare complete success and the Bank will continue, in conjunction with the FSA, to keep in close touch with the financial sector in the days ahead."

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