CNB enters Y2K with no problems

Prague (3 January 2000, 8.15 a.m.): Today, on 3 January 2000, the special Y2K operations group at the CNB completed its work and the bank launched its regular activities within the normal regime without any problems.

Following the transition into the year 2000, the CNB successfully finished testing the functionality of its information technology and of all key information, payment and accounting systems during 1 January 2000. Ahead of the critical period of the change into the new millennium, the CNB had completed the necessary accounting operations and had properly backed up all data. Following the year change, it was verified that all the data were complete and fully available. The central bank's branches did not record any requests from commercial banks for increased allocations of cash in connection with the millennium transition.

According to information collected by the CNB, the banking sector passed through the critical period of the change into the new millennium smoothly. Today, on 3 January 2000, banks in the Czech Republic are opening normally and rendering services to clients in all their branches within the normal scope.

Milan Tománek
CNB spokesman