All financial institutions will be examined to ensure the "year 2000 problem" does not lead to loan losses, customer confusion, or data errors, regulators told a Senate panel this week.

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 even computer program failures.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.