Czech central bank has passed critical period with no problem

Prague (1.1. 2000 - 16:45 hod.): Czech National Bank (CNB) has successfully completed functionality checking of all information technologies and all key IT, payment and accounting systems related to Y2K. It creates a good condition for the central bank to provide full and non-problem services from the first working and accounting day of 2000.

Before critical breaking moment of 1999/2000 CNB has completed all required accounting operations and get all the data well saved. After the breaking moment CNB has been verified that all the data are fully complete and available.

According to the reports CNB has received so far, Czech banking sector has passed to year 2000 without any problem and is ready to serve customers within the ordinary scope of services. CNB will continue collecting data from Czech banking sector during tommorrow, 2 January 2000.

Despite central bank does not expect any major problem to happen, its emergency group keeps working to monitor situation.

Milan Tománek
spokesman ČNB