The following General Accounting Reports recently became available: - Year 2000 Computing Crisis: National Credit Union Administration's Efforts to Ensure Credit Union Systems Are Year 2000 Compliant. T-AIMD-98-20. 14 pp. October 22, 1997. http://www.gao.gov/new.items/ai98020t.pdf NCUA admits that they are in deep do-do. "... (1) current agency efforts to determine industrywide compliance are behind the generally accepted schedule for achieving Year 2000 compliance, and, consequently, NCUA does not yet have a complete picture of where credit unions stand individually or as an industry, (2) the agency lacks a formal, documented contingency plan in case credit unions do not become compliant in time or have other problems, (3) credit union internal auditors may not be thoroughly addressing Year 2000 issues as part of their work, and (4) NCUA does not have enough technical capability to conduct Year 2000 and other examinations in complex systems areas." "... the problem could lead to numerous problems when calculations requiring the use of dates are performed, such as calculating interest, calculating truth-in-lending or truth-in-savings disclosures, and determining amortization schedules. Moreover, automated teller machines may also assume that all bank cards are expired due to this problem. In addition, errors caused by Year 2000 miscalculations may expose institutions and data centers to financial liability and risk of damage to customer confidence. Other systems important to the day-to-day business of credit unions may be affected as well. For example, telephone systems could shut down as can vaults, security and alarm systems, elevators, and fax machines." - Social Security Administration: Significant Progress Made In Year 2000 Effort, But Key Risks Remain. AIMD-98-6. 17 pp. plus 2 appendices (6 pp.) October 22, 1997. http://www.gao.gov/new.items/ai98006.pdf The SSA reports that about 80% of its core code has been converted and tested and is confident of completion by January 1999, but that significant y2k exposure remains due to possible contamination from non-compliant sources of information (e.g., state disability and other federal agencies). --Steve