View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Federal Reserve Bank
of Dallas

l l★K

ROBERT D. McTEER, JR.
DALLAS, TEXAS
75265-5906

PRESIDENT
AND CHIEF EXECUTIVE OFFICER

June 15, 1999
Notice 99-42

TO: The Chief Executive Officer of each
financial institution and others concerned
in the Eleventh Federal Reserve District

SUBJECT
Year 2000 (Y2K) Checklist
DETAILS
The regulatory agencies have issued a checklist of things that consumers can do to
protect themselves during the Year 2000 rollover. The release, titled A Y2K Checklist for Customers, encourages customers to take certain steps in anticipation of the date change. The
agencies developed the checklist as part of their customer awareness program. Customer awareness programs are a critical means of ensuring customer confidence in their own banks and the
U.S. banking system in general.
ATTACHMENT
Attached is a copy of the Y2K customer checklist.
MORE INFORMATION
For more information, please contact Angela Desmond at (202) 452-3497 or Jamie
Lenoci at (202) 452-2288. For additional copies of this Bank’s notice, contact the Public Affairs
Department at (214) 922-5254.
Sincerely yours,

For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal
Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012;
Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810.

From the smallest to the largest, federally insured financial institutions have been working hard to make sure their
computer systems will operate smoothly in the Year 2000 (Y2K). In addition, federal and state regulators are
closely monitoring the progress of institutions they supervise to make sure Y2K issues are being addressed.
Despite the best efforts of the industry and the regulators, no one can guarantee that everything will work
perfectly. That’s why financial institution customers may want to consider taking steps in anticipation of the date
change. You can refer to the following checklist to prepare yourself for Y2K.

Educate
Yourself
About Y2K

Find out what your financial institution is doing to address consumer concerns.
If you have questions, speak with a representative who knows about the institution’s
Y2K program.

Keep Copies
of Financial
Records

As always, keep good records of your financial transactions, especially for the last
few months of 1999 and until you get several statements in 2000.

Pay Attention
to Your
Finances

As always, balance your checkbook regularly. When you receive a transaction
receipt from your institution, check it for accuracy and save it to compare against
your statement. It’s also smart to review your credit report to make sure it doesn’t
contain inaccurate information.

Make Prudent Remember all your payment options (checks, credit cards, debit cards, ATMs and
Preparations tellers) in the event that one doesn’t work as planned. The Federal Reserve has
plans to ensure that there will be sufficient cash available for consumers. If you
withdraw money, make reasonable decisions based on solid information; don’t put
yourself at risk of being robbed or losing valuable interest payments.

Be on Guard
Against Y2K
Scams

Be skeptical if someone asks for your account information or tries to sell you a
product, service or investment that’s supposedly Y2K “safe.” Protect your personal
information, including your bank account, credit card and Social Security numbers.

Review Your
Deposit
Insurance
Coverage

The federal government’s protection of insured deposits will not be affected by
Y2K. If you have more than $100,000 in an insured bank, thrift or credit union,
you may want to make sure you understand the insurance rules. Check with
your financial institution or call the Federal Deposit Insurance Corporation at
1-800-934-FDIC (for banks and savings institutions) or the National Credit Union
Administration at 703-518-6330 (for credit unions).

Federal Deposit Insurance Corporation u Board of Governors of the Federal
Reserve System u National Credit Union Administration u Office of the
Comptroller of the Currency u Office of Thrift Supervision

For more information about financial institutions’ Y2K readiness, customers may contact:
State-chartered banks that are not members of the Federal Reserve System are supervised by:
Federal Deposit Insurance Corporation
(800) 934-3342
Internet: www.fdic.gov
Banks with state charters that belong to the Federal Reserve System are supervised by:
Board of Governors of the Federal Reserve System
(202) 452-3693
Internet: www.federalreserve.gov
Federal credit unions are supervised by:
National Credit Union Administration
(703) 518-6330
Internet: www.ncua.gov
National banks are supervised by:
Office of the Comptroller of the Currency
(800) 613-6743
Internet: www.occ.treas.gov
State and federally chartered savings associations are supervised by:
Office of Thrift Supervision
(800) 842-6929
Internet: www.ots.treas.gov
For general information on Y2K, consumers may contact the President’s Council on
Year 2000 Conversion.
(888) USA-4-Y2K or (888) 872-4925
Internet: www.Y2K.gov
You can obtain a free copy of “The Year 2000, Your Bank and You,” a special edition of the FDIC Consumer
News devoted entirely to Y2K, by calling the Consumer Information Center toll-free at (888) 878-3256 or
(888) 8-PUEBLO or by writing them at: Consumer Information Center, Item 613-F, Pueblo, CO 81009.