Banks in Hong Kong operating normally

Hong Kong's banking system has entered the new millennium without problems, according to preliminary reports received by the Hong Kong Monetary Authority (HKMA).

The HKMA has confirmed that the 24-hour systems of banks in Hong Kong have passed into the new millennium without difficulty and are operating normally. The 24-hour systems include automatic teller machines and telephone banking services.

'We have received the results of wellness checks on the 24-hour systems of banks in Hong Kong. These results indicate that all 24-hour systems are functioning smoothly and without problems,' said an HKMA spokesperson.

The spokesperson added that, up to this moment (1:45 a.m.), no reports of any Year-2000-related problem had been received from banks in Hong Kong and that shared systems, such as JETCO, EPSCO, VISA and MASTERCARD, also appeared to be functioning normally, according to preliminary assessments.

The HKMA will continue to monitor the progress of Hong Kong's banking sector through the millennium rollover.

Hong Kong Monetary Authority

1 January 2000 2:05a.m.