"Perspectives on Outsourcing Risk" Conference
September 21, 2000
Circular No. 11277

Monday, 12/11/00, at the New York Federal Reserve Bank

To the Chief Executive Officers of all Bank Holding Companies, State Member Banks, Edge Act Corporations, and Branches and Agencies of Foreign Banks in the Second Federal Reserve District:

In view of the growing importance of outsourcing as a business option for financial institutions, and the additional risks introduced by this solution, the Federal Reserve Bank of New York is sponsoring a Perspectives on Outsourcing Risk Conference.

This conference will discuss the role that outsourcing may play in the evolution of the financial services industry and the risk management practices that banks will need to employ in response. Participants will have an opportunity to hear the latest thinking on this trend from a variety of prominent speakers from the bank, service provider and supervisory communities.

This half-day conference will be offered on Monday, December 11, 2000, in the Federal Reserve Bank of New York's 12th floor conference center. The conference will begin at 9:00 a.m. and is scheduled to end at noon. While registration is free, due to the limited seating capacity of the center, participation must generally be limited to two representatives per institution. A draft agenda (pdf - 13kb) and registration form (pdf - 6kb) are available. Please complete the form and fax it to us at 212-720-7818.

I look forward to seeing you and/or your representatives at the conference and urge you to take advantage of this opportunity to discuss this important issue. Questions regarding outsourcing issues may be directed to Kausar Hamdani, Assistant Vice President, Joseph L. Galati II, Markets Officer, or Patrick Prickett, Senior Financial Analyst.