The Federal Reserve Board last week issued a cease-and-desist order against Zia New Mexico Bank of Tucumcari, N.M., demanding the $16 million- asset institution get up to speed on its year-2000 preparations.

The order, issued Dec. 7 and released last week, calls for Zia New Mexico to create plan to address date-change concerns and to designate a senior manager to supervise its year-2000 efforts. Within 45 days of the order date the bank must also identify customers at risk of year-2000 problems and come up with a contingency plan.

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