the year-2000 rollover, examiners from the Office of Thrift Supervision will call every savings bank it regulates at least three times in the first days of the year.
Rather than wait for reports of liquidity problems because of withdrawals or of trouble with computer operations, examiners will touch base from Jan. 1 through Jan 5. Monitoring will continue as other possibly troublesome dates approach, including Feb. 29.
In a newsletter sent to thrifts last week, OTS Deputy Director Richard Riccobono said the agency does not expect disruptions, but wants to be on the front line just in case. "Having good, reliable information also is essential to dispelling false alarms," he wrote.
The four federal bank agencies will be contacting vendors to ensure payment systems and cash networks are working. Testing indicates things should run smoothly, said Howard Amer, assistant director of the Federal Reserve Board's division of banking supervision and regulation.
"The premise is when the time changes, everything will work," he said. -- Katharine Fraser