World Banks Printing Extra Money

Banks anticipate heavy demand for cash as Y2K draws near

Central banks from the major industrialized countries in the world will begin printing currency to cover the anticipated heavy demand for money at the end of 1999.

According to a report by the Bank of England on Y2K preparations, the huge amounts of new cash will create security problems with many banks planing to stash the money in secret locations.

The report says the US Federal Reserve is printing an extra $50-billion, 1-trillion yen by the Bank of Japan, $60-billion ($HK) by the Hong Kong Monetary Authority, and 10-billion ($SEK) by the Swedish Riksbank. The Bank of England will be printing 3 billion pounds in extra money and plans to increase the country's liquidity by 30-billion pounds by not destroying 20-billion pounds currently in circulation.

According to press accounts, central banks in Italy, Switzerland, Singapore and Canada are also printing more money. Only France, Germany and the Netherlands believe that existing stocks will be adequate.

Despite the move, central bankers reportedly have determined that no cash shortages will be caused by any Y2K computer glitches or by bank customers emptying their accounts either as a precaution or in order to pay for the extended public holiday over the new year. Several countries are also declaring several days around January 1st as bank holidays.

Source: The Daily Telegraph

DATE: 07/23/99

For more E2000 stories, click here:
news | events | Y2K | today's news


Saturday, November 11, 2006

Everything 2000

Event News
What is Y2K?
When does the Millennium begin?

Millennium Party Tips

Millennium Weddings

square Mega-events
square United States
square Canada
square South America

square Europe
square Great Britain
square Africa
square Middle East
square Asia
square Down Under
square Antarctica
square Cruises

square Books
square Collectibles
square Celebration Supplies
square General Merchandise
square Travel Packages

Y2K Humor
Bugs 2000
kidd millennium

square general
square historical
square goal setting
square spirituality
square prophecy

square organizations
square celebrations
square online
square global community
square peace
square religion
square environment
square apocalypse
square space


Everything 2000
Home | Todays News | Everything Weekly
Year 2000 Books and Videos | Links

© Copyright 2000., Inc. and symbol is a trademark. Everything 2000
is a registered trademark of EverythingHolidays, Inc. All rights reserved.