Post-Hearing Questions on the Federal Deposit Insurance Corporation's Year 2000 (Y2K) Preparedness

Pursuant to a congressional request, GAO provided additional information on the efforts of the Federal Deposit Insurance Company (FDIC) to ensure that the bank systems it oversees and its own internal systems are ready for the year 2000, focusing on: (1) a comparison of the relative progress of the National Credit Union Administration (NCUA) and FDIC in both internal and external systems year 2000 compliance; (2) how many months behind FDIC is in each aspect of its year 2000 project; (3) the possible consequences of year 2000 noncompliance and the possible impact on bank customers and on the Bank Insurance Fund; and (4) the Federal Financial Institutions Examination Council's (FFIEC) year 2000 efforts.