Mellon Bank to remain open 01/01/2000 - LINK -- PR Newswire : LUSENET : TimeBomb 2000 (Y2000) : One Thread

Wednesday March 24, 11:45 am Eastern Time
Company Press Release
SOURCE: Mellon Bank Corporation

Mellon Bank Retail Offices Will Be Open January 1 and 2, 2000;
MellonDirect24(SM) Center Will Remain Staffed the Entire New Year's Weekend

PITTSBURGH, March 24 /PRNewswire/ --
Responding to possible concerns among consumers and businesses about year 2000 (Y2K) issues, Mellon Bank Corporation (NYSE: MEL - news) today announced it will be Y2K ready and key retail bank locations will be open for business on Jan. 1, 2000.

In early December, Mellon will publicize a list of traditional and supermarket offices in key locations throughout Pennsylvania, New Jersey, Delaware and Maryland that will be open for business on Saturday, Jan. 1 and Sunday, Jan. 2, 2000. All Mellon offices also will have extended hours on New Year's Eve (Friday, Dec. 31), some until 8 p.m.

Mr. K
***interested to see some confidence***

-- Mr. Kennedy (, March 24, 1999


I am not sure how long it has been that I have been hoping that a bank would be confident enough to do this. They have certainly put themselves on the line and opened themselves to the consequences of failure. Their lawyers must have fought as there is no guaranty. Work still needs to be done and will not be completed until June. It is also worthy of note that Mellon started their project in 1996.

This is good news and Mellon should be congratulated. Where are the rest of the banks? I know there are many ways this can fail (electricity etc.), but it would appear they have done their job.

Why is this not acknowledged by others as good news? Is everyone on this forum unhappy at the positive? No responses?

Still an 8

-- Mike Lang (, March 24, 1999.

An interesting stratagem. I wonder if Mellon Bank will start using this announcement for competetive advantage. I wonder if other banks will follow suit, especially if their customers start asking pointed questions.

I banks are doing as well as many say, there should be no reason why not. Here's hoping this breaks the logjam of timid silence.

-- Flint (, March 24, 1999.

To further inspire confidence in Mellon Bank, The Los Angeles County Employee's Retirement Association. One of the largest Retirement Associations in the Country has given it's financial administration over to Mellon Bank. Since thats where my check comes from every month I did a bit of research on the bank and found the original post to be correct. They specialize in servicing and administering corporate monies. I think they are a regular bank as well.

Bill in south Carolina

-- Bill Solorzano (, March 24, 1999.

Maybe their confidence is really confidence that all will go OK. Maybe their confidence is that they know more than we do about the shape of the power grid and are, therefore, confident they won't have to prove their compliance. Just a thought - oh heck, the devil made me say it!!

-- Valkyrie (, March 24, 1999.

Interesting takes, Flint, Valkyrie.

I does make sense to offer business as usual if they are truly compliant. If other failures cause the services to be shut down (electricity, water, etc), then there would be no direct liability.

I had wondered also about the banking strategy concerning disclosure. Since most of them have touted "we'll be fine", looks like they would be boasting that to bring business to their bank.

Mr. K***glad to be separated from the banks for a while (Mr. Money Order Man)***

-- Mr. Kennedy (, March 24, 1999.

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