Search: Y2K

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RBA Glossary definition for Y2K

Y2K – Year 2000. The Year 2000 problem was the possibility that financial institutions' computer systems would fail on 1 January 2000 and spark a loss of public confidence in individual institutions or at worst, in the financial system as a whole. In the event, the arrival of Y2K was virtually incident-free.

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The Impact of Y2K on Financial Markets in Australia

10 Jan 2000 Bulletin – January 2000
A major concern relating to Y2K was that households might withdraw much more money from financial institutions than they usually would at this time of the year. ... Y2K was about $2.5 billion, or about 10 per cent of the normal stock of notes on issue.
https://www.rba.gov.au/publications/bulletin/2000/jan/1.html

Bulletin Articles – 2000

9 Mar 2023 Bulletin
The Reserve Bank Bulletin is a monthly publication that contains economic commentary, feature articles, speeches and a set of statistical tables
https://www.rba.gov.au/publications/bulletin/2000/

Financial System Stability

3 Aug 2000 RBA Annual Report – 2000
A first and unique test of Australia's new financial regulatory structure was the Y2K problem. ... Y2K problem on the financial system and satisfied with the reassurances received from their financial institutions.
https://www.rba.gov.au/publications/annual-reports/rba/2000/fin-sys-stability.html

Semi-Annual Statement on Monetary Policy

10 Nov 1999 Bulletin – November 1999
Graph 6. In credit markets more generally, perceptions that the interest rate cycle has turned, together with preparations for Y2K, have led borrowers to bring forward borrowing to lock in funding.
https://www.rba.gov.au/publications/bulletin/1999/nov/1.html

Currency Demand Data

31 Dec 2013 RDP 2013-01
Tom Cusbert and Thomas Rohling
The first occasion was in preparation for the year-date change at the end of the millennium (that is, ‘Y2K’). ... To some extent this experience echoes the build-up of cash in banks on the eve of Y2K, where banks built up a buffer of currency.
https://www.rba.gov.au/publications/rdp/2013/2013-01/currency-demand-data.html
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Survival Modelling

1 Dec 2015 RDP 2015-10
Alexandra Rush
0.30. 0.27. 0.22. Recoloured $5. 0.04. Federation $5. 0.34. Y2K. 0.02. ... On the other hand, Y2K did not have a statistically significant impact on the life span of $20 or $50 banknotes.
https://www.rba.gov.au/publications/rdp/2015/2015-10/survival-modelling.html
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Administration and Costs

3 Aug 2000 RBA Annual Report – 2000
Overall, underlying operating costs rose in 1999/2000, but the rise was accounted for by the Y2K-related expenses. ... The share of costs attributable to note distribution rose in 1999/2000, reflecting the Y2K-related expenses referred to above.
https://www.rba.gov.au/publications/annual-reports/rba/2000/admin-costs.html

Statement on Monetary Policy

10 Nov 2001 Bulletin – November 2001
Reserve Bank Bulletin – November 2001 Statement on Monetary Policy. Download the complete Statement 1. MB. International economic conditions are at their weakest for many years. The United States has all the hallmarks of recession – declining
https://www.rba.gov.au/publications/bulletin/2001/nov/1.html

Glossary

24 Aug 2001 RBA Annual Report – 2001
Special drawing rights. Y2K. Year 2000.
https://www.rba.gov.au/publications/annual-reports/rba/2001/glossary.html

Glossary

21 Aug 2002 RBA Annual Report – 2002
Special drawing rights. Y2K. Year 2000.
https://www.rba.gov.au/publications/annual-reports/rba/2002/glossary.html