The state's acting superintendent of banks, Elizabeth McCaul, said Tuesday that 97% of financial institutions her agency regulates have received satisfactory year-2000 ratings.

"Only a small minority of banks has fallen behind schedule," she told members of the New York State Bar Association. "These few institutions are subject to an enhanced monitoring program and may be subject to enforcement actions if warranted."

Ms. McCaul asked her audience to spread the word that people do not have to worry about year-2000 computer glitches.

"Consumers must be kept informed of their bank's Y2K progress so they won't fall prey to possible Y2K scams," she said.

She said the department has received reports of people posing as bank representatives and urging depositors to transfer funds to nonbank accounts until the computer systems are updated.

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