View original document

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

Federal Deposit Insurance Corporation

Division of Supervision

550 17th Street NW, Washington, DC 20429

Year 2000 Contingency Planning
October 26, 1999
FFIEC Year 2000 Event Planning Supervisory Strategy of Service Providers and
Software Vendors


The Federal Financial Institutions Examination Council (FFIEC) has issued the attached letter to
service providers and software vendors to notify them of the member agencies' intentions to
intensify the monitoring of operating performance during the fourth quarter of 1999 and the
rollover period.


These increased supervisory efforts will not obviate the need for continued communications
between the serviced financial institutions and their vendors. Consequently, you are expected to
continue prudent due diligence as outlined in the FFIEC Interagency Statement "Guidance
Concerning Institution Due Diligence in Connection with Service Provider and Software Vendor
Year 2000 Readiness" issued in March 1998. Notification of the results of reviews during this
period will not be made unless the findings represent a material change in condition.
For further information, please contact your Division of Supervision regional office.
James L. Sexton

Attachment: FFIEC Interagency Letter

Distribution: FDIC-Supervised Banks (Commercial and Savings)


NOTE: Paper copies of FDIC financial institutions letters may be obtained through the FDIC's
Public Information Center, 801 17th Street, NW, Room100, Washington, DC 20434 (800-2766003 or (703) 562-2200).