$200 Billion Op Losses Put Y2K Glitches In Shade


LONDON--The financial services industry has lost more than $200 billion from operational disasters over the last 20 years, new analysis of a major loss database suggests.

The figures throw the huge expense of the Y2K safety measures -- estimates range from £1 billion for UK financial services to over $100 billion for all US industries -- into sharp relief.

So far, banks in London and New York say that Y2K glitches have proved trivial. A couple of banks experienced hiccups when processing batches

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