Contingency Planning Despite our intensive efforts to prepare our computer systems, we must also make plans for dealing with problems that might occur at the Year 2000 rollover. As you know, the Federal Reserve has been involved in contingency planning and has dealt with various types of emergencies for many years.
In response to past disasters we worked closely with the affected financial institutions to ensure that adequate supplies of cash were available to the community, and that backup systems supported our operations without interruption during the crisis period. These efforts primarily focused on the orderly resumption of business operations resulting from hardware failures or processing-site problems.