STORY:
Canadian Armored Cars Y2K Cash Run

A report from the Toronto Star says Canadians eager to have cash in their pockets in case of a Y2K emergency will be able to find enough in the country's 14,000 automatic teller machines in the days before New Year's Eve.

But privately, the report says some industry officials are wondering if there are enough armored cars in Canada to keep the ATMs supplied with cash during the run-up to Dec. 31, 1999. The demand for cash during the Christmas holiday period is always intense. And Y2K concerns are expected to put the system for distributing money through banking machines under unprecedented pressure. ``There'll be a run on cash'' during the holiday period, said a manager at Loomis Armored Car Service in Mississauga.

The banks have spent four years and an estimated $900 million debugging their systems to avoid the snafus that have been feared in financial, hydro, communications, transport and other systems around the world if computers are unable read beyond the year 1999.

A Canadian Banking Association spokesperson, said it is too early to say how Y2K concerns will affect the availability of money in banking machines during the Christmas holidays.

Source: Toronto Star

DATE: 4/22/99

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