And finally, what do we hope the media will do in the coming months? I believe there are four important elements needed for public confidence in banks and the banking system, and each is being addressed as we prepare for potential Y2K problems.
Bank customers need to be assured • of ready access to cash and other funds and bank services • that their bank records are secure • that competent and energetic government supervision is being conducted • that deposit insurance is in place and inviolate I want to elaborate on these elements because I believe that public understanding of the banking industry’s Y2K preparations will help maintain public confidence.