As the End of the Year 1999 Approached, Many People

question 55

Essay

As the end of the year 1999 approached, many people worried that banks and more specifically the banks' computers would not be able to read the year 2000 correctly. This was commonly known as the Y2K problem. Many people were concerned that their bank would lose the record of their deposits etc., and made plans to take most of their funds out of the bank. Address the potential Y2K problem from the standpoint of bank risk. What two types of risk potentially could have been involved?

---

Definitions:

Polar

A description of a molecule with a distribution of electric charge leading to one end being positively charged and the other end negatively charged.

Carbohydrates

Organic compounds consisting of carbon, hydrogen, and oxygen, usually in the ratio of 1:2:1, providing energy through metabolism.

Lipids

A broad group of naturally occurring molecules that include fats, oils, waxes, and certain vitamins, characterized by their insolubility in water but solubility in organic solvents.

Disaccharide

A carbohydrate made up of two monosaccharide molecules bonded together, examples include sucrose and lactose.