Particularly in light of these competing demands for system resources internationally, foreign and US banks need to recognize the magnitude and importance of the Year 2000 conversion effort. Banks need to take action now to devote sufficient resources to this critical mission. Senior management of banks and FBOs is responsible for dealing with Year 2000 issues.
It is not a technical issue alone; it is also a strategic business issue. Conclusion I believe that the emergence of modern international banking is probably likely to be beneficial. While international banking holds the potential for macro-stability, the history of financial crises, including the current ones in Asia, also shows how weakness in banking systems and banking supervision may contribute to macro-instability.