It is the first international body that brings together such a range of financial regulators. It is important to note that the Joint Year 2000 Council is not the “international Year 2000 enforcement agency”. We do not have onsite examiners, nor are we meant to replace the efforts of national regulators.
The Council established an External Consultative Committee, or ECC, to enhance the degree of information sharing between the public and private sectors. This committee includes representatives of internationally oriented organizations including the Global 2000 Coordinating Group, the International Monetary Fund, the World Bank, and financial service providers, such as S.W.I.F.T., Euroclear and Cedel.