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Memorandum of the Millennial Crisis in Information and
Technology |
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A.The dependency on computerization and the impact of
the millennial crisis |
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| 1. |
The operations
of business in ICBC are fully computerized. Covered
are deposits, loans, credit cards, securities, funding,
interests, accounting etc. |
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| 2. |
A total
of 71 items of date-related software and hardware
system needs to be upgraded or replaced. |
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B.Planned
modification required for current systems and its expenditures |
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| 1. |
After
supplying adequate resources of personnel and investment
to modification, the Bank completed the application
modification of Y2K project by the end of 1998.
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| 2. |
The total
expenditure for the Y2K project amounted to NT$
126 million with a manpower of about 27 persons
per day annually. |
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C.The
effect on the functions of the Bank if the Y2K project
is not completed on time
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| 1. |
The Bank
had completed upgrading and modifying all the software
and application systems for the Y2K project. It
had also finished the integrated test on March 1999.
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| 2. |
The conversion
of all related software and hardware systems had
been scheduled to follow subsequently and had been
completed by the end of June 1999. |
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| 3. |
The Bank
had completed an emergency back-up plan by the end
of May 1999 in order to be prepared for accidental
malfunction of its computer operation. |
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| 4. |
Therefore,
any millennial crisis in information and technology
will not cause problems to the operation of the
Bank after the end of June 1999. |
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