These efforts will continue consistent with the requirements contained in the Examination Parity and Year 2000 Readiness for Financial Institutions Act (Public Law 105-164), enacted March 20, 1998, which call, in part, for the banking agencies to conduct seminars for depository institutions on the implications of the Y2K problem on their ability to conduct safe and sound operations.
6. International Scope The Federal Reserve has worked actively within the Bank for International Settlements (BIS) to ensure that financial regulators around the world are aware of the dangers posed by the Year 2000 and are working to see that the markets and institutions they oversee are ready for the century date change.