Re: BREAKIN': ROYAL BANK O' CANADUH IN CHAOS - NEEDS CODIN' FOOLS ASAP

From: Gus (Gus_at_nowhere.net)
Date: 06/06/04

  • Next message: Gus: "Re: VMS to AS400 conversion" 
    Date: Sun, 06 Jun 2004 06:54:54 GMT

    Don Leahy wrote:

    > "Peter Lacey" <lacey@mb.sympatico.ca> wrote in message
    > news:40C252A1.BF71B6C0@mb.sympatico.ca...
    >
    >>
    >>While I wouldn't be so bold as to say Mr. Geczy is wrong, the records
    >>would still have to be time & date-stamped because time & date have to
    >>be shown on reports & inquiries etc.
    >>
    >>I'm wondering, in view of the severity and protractedness of the
    >>problem, if some crucial programs haven't been completely lost.
    >>
    >>PL
    >
    > I think that's unlikely. I suspect that the problem was fixed within a few
    > hours of being detected.
    >
    > However, by that point they had probably 'lost' a day's worth of processing.
    > For the bank the size of RBC, that means tens of millions of transactions
    > would have to be reprocessed. And, while they're doing that, millions more
    > transactions would continue to come in, creating a huge backlog that
    > couldn't be cleared until the weekend.
    >
    > Bad luck for them that the problem occurred so early in the week! Worse
    > luck for RBC customers and payroll clients.

    Don't know for certain about the "banking" side of things in the US, but
    if custodial accounts weren't posted & balanced with Tuesday's business,
    then you didn't open for business on Wed. until you were current. This
    was a major problem for us in the NYC area 11 Sept 2001 & the next few
    days. The SMAC (securities movement & control) applications HAD to
    settle trades Tue night so we could be open on Wed. While the US banks
    were on holiday until the following Monday, the non-US markets were open
    and trades entered before 11 Sept. had to be settled on time. It was
    very hairy for a couple of days with both the power & phone backups out
    along with the primaries - lots of sneakernet running tapes around NYC.

  • Next message: Gus: "Re: VMS to AS400 conversion"

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