Banking

FEDERAL RESERVE BANK OF ATLANTA Volume 12, Number 1 January-March 1999 Cover Story - Fed Hosts Y2K Contingency Planning Teleconference for Bankers Models for Valuing Default-Risky Securities Fed ACH Survey Shows Openness to Automated Transactions New Federal Reserve ACH Trends Perceptions of Direct Payment Atlanta Fed Names New Chairman, Deputy Chairman and Board Members D E P A R T M E N T S Did You Know? Derivative Securities Use Grows As Banks Strive to Hedge Risks Data Bank The Docket Editorial Director Pierce Nelson Managing Editor Lynn Foley Staff Writer Jean Tate Designers Carole Starkey and Kristin Reynolds Editorial Board Bobbie McCrackin — V.P., Public Affairs Lois Berthaume — V.P., Supervision and Regulation Anne DeBeer — Sr. V.P., Accounting/Automation Lee Jones — V.P., Nashville Branch B. Frank King — V.P. and Assoc. Director of Research James McKee — V.P., Atlanta Branch Mel Purcell — Sr. V.P., Nashville Branch Melinda Rushing — A.V.P., Retail Payments Office Richard Fraher — Senior Counsel, Legal Patricia Van de Graaf — A.V.P., New Orleans Branch Policies The views expressed are not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System. Reprinting or abstracting material from this publication is permitted if Financial Update is credited and a copy of the publication containing reprinted material is provided to the Public Affairs Department. Subscriptions Free subscriptions and additional copies are available upon request to: Taqiyyah Muhammad Public Affairs Department Federal Reserve Bank of Atlanta 104 Marietta St., N.W. Atlanta, GA 30303-2713 or by calling (404) 498-8020. Internet address: http://www.frbatlanta.org Change-of-address notices, along with the current mailing label, should be sent to the Public Affairs Department. ISSN 0899-6563