Senate Banking Committee Chairman Alfonse M. D'Amato on Monday criticized reports filed by the Federal Reserve Board and the National Credit Union Administration on the computer crisis that looms in 2000.

Experts fear that on Jan. 1, 2000, computer systems will mistake the two-digit "00" in their internal clocks for 1900, causing severe malfunctions or disruptions in service.

"Neither the Fed nor the NCUA appear to have an aggressive plan of action," according to a Senate Banking release. "Both seemed to assume that simple awareness by the institutions they regulate was adequate."

The Fed and NCUA have until April 28 to file new reports.

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