The number of banks and thrifts with an "unsatisfactory" year-2000 grade fell to just 16 at yearend from 46 at June 30, the Federal Deposit Insurance Corp. reported Wednesday.

Roughly 97% of the 10,415 FDIC-insured banks and thrifts were rated "satisfactory" in preparing for the millennium date change and 3% received the next-best rating of "needs improvement."

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