EBA CLEARING completes Y2K global test

The EBA Clearing Company announced today the successful completion of its participation in the Y2K Global Test, a banking industry initiative that took place on 12^th and 13^th June, co-ordinated by the New York Clearing House. The purpose of the Global Test was to simulate and provide an indication of the anticipated flow of transactions in clearing and settlement systems, on the 3^rd and 4^thJanuary 2000. Particularly of interest was the cross market testing with other relevant payment systems.

Commenting on the satisfactory completion of the tests, Willy Scheerlinck, Chairman of EBA Clearing Company said: "We are pleased to confirm the successful performance of EURO1 during the Global Y2K Test. The system has proved again its robustness, as it was originally designed to be Y2K compliant. Looking to the future, EURO1 will continue to provide a speedy and efficient service for our current 65 clearing members."