The TSE and Japanese banks reopen on Tuesday morning, January 4, 2000. That will be 7PM Monday Eastern US time.

The TSE conducted tests yesterday on all systems and with all brokers. The word on the street is that the systems and mock trading operated normally.

The Bank of Japan conducted testing also with all domestic banks and the word on the street is that the interbank networks and mock transactions operated normally except for 2 small banks. Those two banks are retesting today (Monday).

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Credit cards are being accepted with no problems here. The banks have been doing reconciliation testing this weekend and it appears that VISA is not toast. Sorry, Andy.

-- PNG (png@gol.com), January 02, 2000

Answers

Thank you PNG. Please continue to post news as you see/hear it.

Do you have any infor from japanese TV or other sources about other Asian countries?

A week or so ago, I saw a new items stating Papua New Guinea would not make it thru Rollover and the Thai Baht was in liquidity trouble.

-- Bill P (porterwn@one.net), January 02, 2000.

The currency of southeast asia , is always volatile (ie in and out of trouble) The Thai Bhat in trouble isnt any great news. Looks like most asian countries have decided to make 1/3/2000 a holiday tho. Hong Kong however is up and looking good.

nyc

-- nyc (nycnyc@hotmail.com), January 02, 2000.

Drat! Thanks Peter, I was hoping not to have to pay my VISA bill!

-- Andy (2000EOD@prodigy.net), January 02, 2000.

Thailand is doing pretty good. The bitter pills they swallowed last year have helped. I'm not too worried about baht liquidity because of the controls they've implemented. Have you ever been to PNG (How ironic)? It's a desperate place... I don't see any way they get in any worse condition.

Even the Japanese Stock Market beat the NYSE last year!! My company stock went up 410%... not too shabby [but there are a few reasonably bright people on staff ;-)]

-- PNG (png@gol.com), January 02, 2000.

PNG, I have sent a few email to gol.com--different addresses--and they have all bounced back. Are you getting email from the US? I wonder if this one will go through.

-- Mara (MaraWayne@aol.com), January 02, 2000.

Just updating my scoreboard...

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Tuesday, January 4, 2000

BOJ Declares Y2K Bugs Under Control

TOKYO (Nikkei)--Few Japanese financial institutions reported problems related to the millennium computer bug on Tuesday, the first business day of the year, and the nation's central bank confirmed the normal operation of computer systems at financial institutions, including its own. Bank of Japan officials said Tuesday evening they are no longer concerned about possible Y2K computer problems. "All of our computer systems are operating normally," according to a BOJ official.

About 1,700 BOJ employees were mobilized from the end of 1999 to help in the event of computer problems.

"Some small problems have been left unsolved at a few private-sector financial institutions," an official at the bank's Financial and Payment System Office said. Even so, he stressed the relatively successful crisis management, saying "none of these unsolved problems will affect the general financial system."

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Look for the yen to increase against the dollar...

-- PNG (png@gol.com), January 04, 2000.

Thank you, kind sir, for the updates.....Are the VISA purchases/transfers/billings properly getting recorded "over here" through the networks?

China has been quiet....funny, sicne they were so threatening towards Tawain in the few days right before January 01.

-- Robert A Cook, PE (Marietta, GA) (cook.r@csaatl.com), January 04, 2000.