Y2K: Banks' first night delight

Local financial institutions stepped over another Y2K hurdle last night after the first processing day of the New Year.

After a smooth transition to 2000, the year's first update was considered "critical" to the continued success of a Y2K-bug-free year, according to the Commonwealth Bank's Y2K project manager, Ken Pritchard.

The banks reported no problems after processing a higher than usual volume of transactions due to the long weekend.

"At this stage we have got a very good report card," Pritchard said.

A similar view was expressed by other financial institutions, including NAB, ANZ and Westpac.

However, all financial organisations plan to keep an eye out for Y2K-related issues for the rest of the year as other significant dates approach.

These will include the end of the first processing week, month, and quarter, Pritchard said.

The organisations are also expected to monitor any problems related to 2000 being a leap year.

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