Japanese Financial System Finds Single Y2K Bug

TOKYO (01/02/2000) - The Bank of Japan and Japan's major financial organizations and institutions gave the all-clear to the country's financial system after several industrywide tests were completed today. The tests were run to check whether any systems were being affected by Year 2000 related computer problems.

The Tokyo Stock Exchange, which had completed internal tests of its own systems yesterday, said a series of tests run today, in which it simulated trading for Jan. 4, revealed just one glitch: an internal problem with terminals produced by Nomura Research Institute Inc.

The problem affects only users of the terminals and will have no impact on the exchange's work, it said. Nomura Research Institute is working on a fix for the problem and will seek to verify it has been rectified in a further series of tests scheduled for tomorrow, the final day of Japan's three-day New Year holiday.

The Bank of Japan, which also ran an internal system test today, said its industrywide test was successful. With 499 participating users of its BOJ-NET system and four private-sector payment and settlement systems, the bank said the test was completed successfully.

Other tests by the Osaka Stock Exchange, Japan Securities Dealers Association, Japan Bankers Association and Tokyo Bankers Association also revealed no problems.

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