I am sure that it will BIS Review 64/1998  -5-  continue to raise the visibility of this issue, help all countries recognize the magnitude of the Year 2000 challenge, and provide guidance to and assistance for supervisors and financial market participants in understanding the steps they need to take to meet the challenge.
I refer you in particular to the Council’s current paper on guidance to supervisors, which gives concrete steps on assessing preparations by financial institutions. Going forward I know that the Council intends to provide guidance on developing testing programs and contingency plans.