FOR EDUCATIONAL PURPOSES ONLY

WASHINGTON (CNN) -- Fears of Year 2000 financial meltdown or air disaster have kept thousands of inspectors busy to make sure U.S. banks and air traffic control systems are fully Y2K compliant by a June 30 federal deadline. Every banking institution backed by the U.S. government has been visited at least twice by one or more of 3,000 inspectors from the Federal Deposit Insurance Corp. (FDIC). "After more than two years of close regulatory scrutiny, our exams show that more than 98 percent of all federally insured institutions are prepared for Y2K," said FDIC Chairman Donna Tanoue. Years of preparation Most U.S. banks and credit unions began compliance testing long ago. The Navy Federal Credit Union first began its Y2K testing program in 1991. For private institutions, compliance has been a costly process. "We estimate that we'll spend $550 million from the time we started in 1995 until our completion," said Milton Jones, a spokesman for Bank of America. Banking executives and federal regulators are equally concerned about consumer confidence in Automated Teller Machines (ATMs), where many people do most of their business with banks. The fear of an ATM glitch at midnight in the Year 2000 has prompted FDIC officials to specifically target ATM networks for compliance. "They're going to be ready," Tanoue promised. FAA says it will meet June 30 deadline The Federal Aviation Administration says all of its air traffic control systems will be Y2K compliant on Wednesday. "We are on target right now to meet our June deadline ... and we are fully compliant," said FAA Deputy Director Mary Powers-King. The FAA has been testing what it calls mission-critical air traffic control computer systems for Y2K compliance and will receive final Y2K status reports on Wednesday. The test results will be further analyzed by the General Accounting Office and an independent contractor to validate the data. To many experts, the real question is whether international air traffic control systems and airports will be Y2K compliant. Thursday is the deadline for international airports and air traffic control systems to report their Y2K status to the International Civil Aviation Organization. Reporter Jonathan Aiken contributed to this report.

-- Sista in 'Da Hood (Sista@Da.Hood), July 04, 1999

Answers

Paragraphs are so over-rated but a Sista has to keep her integrity. One more time, formatted correctly. FOR EDUCATIONAL PURPOSES ONLY

WASHINGTON (CNN) -- Fears of Year 2000 financial meltdown or air disaster have kept thousands of inspectors busy to make sure U.S. banks and air traffic control systems are fully Y2K compliant by a June 30 federal deadline.

Every banking institution backed by the U.S. government has been visited at least twice by one or more of 3,000 inspectors from the Federal Deposit Insurance Corp. (FDIC).

"After more than two years of close regulatory scrutiny, our exams show that more than 98 percent of all federally insured institutions are prepared for Y2K," said FDIC Chairman Donna Tanoue.

Years of preparation

Most U.S. banks and credit unions began compliance testing long ago. The Navy Federal Credit Union first began its Y2K testing program in 1991.

For private institutions, compliance has been a costly process.

"We estimate that we'll spend $550 million from the time we started in 1995 until our completion," said Milton Jones, a spokesman for Bank of America.

Banking executives and federal regulators are equally concerned about consumer confidence in Automated Teller Machines (ATMs), where many people do most of their business with banks.

The fear of an ATM glitch at midnight in the Year 2000 has prompted FDIC officials to specifically target ATM networks for compliance.

"They're going to be ready," Tanoue promised.

FAA says it will meet June 30 deadline

The Federal Aviation Administration says all of its air traffic control systems will be Y2K compliant on Wednesday.

"We are on target right now to meet our June deadline ... and we are fully compliant," said FAA Deputy Director Mary Powers-King.

The FAA has been testing what it calls mission-critical air traffic control computer systems for Y2K compliance and will receive final Y2K status reports on Wednesday.

The test results will be further analyzed by the General Accounting Office and an independent contractor to validate the data.

To many experts, the real question is whether international air traffic control systems and airports will be Y2K compliant.

Thursday is the deadline for international airports and air traffic control systems to report their Y2K status to the International Civil Aviation Organization.

Reporter Jonathan Aiken contributed to this report.

-- Sista In 'Da Hood (Sista@Da.Hood), July 04, 1999.

Sista, you can show even more integrity by not repeating the same watered down horseshit we have been hearing for over a whole goddamned year.Do a little investigating. Thank you, your new friend.

-- King of Free Estimates (your@town.USA), July 04, 1999.

"FAA says it will meet June 30 deadline The Federal Aviation Administration says all of its air traffic control systems will be Y2K compliant on Wednesday. "We are on target right now to meet our June deadline ... and we are fully compliant," said FAA Deputy Director Mary Powers-King. The FAA has been testing what it calls mission-critical air traffic control computer systems for Y2K compliance and will receive final Y2K status reports on Wednesday."

ANOTHER LIE.

Please refer to:

www.y2knewswire.com/faay2klb.txt

-- Clyde (clydeblalock@hotmail.com), July 05, 1999.