We are involved in international visitation programs, conferences and training efforts pertaining to their preparedness efforts. On an interagency basis, the Federal Reserve, the OCC and the FDIC are all represented on the Bank for International Settlements’ (BIS) Committee on Banking Supervision, referred to as the Basle Committee.
The Federal Reserve is also on the BIS Committee on Payment and Settlement Systems (CPSS) which is presently chaired by William McDonough, President of the Federal Reserve Bank of New York. With the issuance of the US industry advisory in May, the Basle Committee took up the subject, forming a special task force on Year 2000.