The Reserve Banks also operate check processing systems that provide check services to depository institutions and the US government. In addition to centralized applications on the mainframe, the Reserve Banks operate a range of applications in a distributed computing environment, supporting business functions such as currency distribution, banking supervision and regulation, research, public information, and human resources.
The scope of the Federal Reserve’s Year 2000 activities includes remediation of all of these processing environments and the supporting telecommunications network, called FEDNET. Our Year 2000 preparations also address our computerized environmental and facilities management systems, such as power, heating and cooling, voice communications, elevators, and vaults.