FLC DSNDING TO 16000 FT OVERSHOT TO 15500 FT DUE TO WRONG ALTIMETER SETTING OF 29 PT 92.

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CRUISING AT FL260; CLRED TO DSND TO 16000 FT ON ALTIMETER 29.45. ATIS FROM RNO WAS UNREADABLE UNTIL DSCNT PHASE BECAUSE OF HIGH TERRAIN (SIERRA'S). NEW CAPT IN L SEAT ON IOE. LINE CHK AIRMAN IN R SEAT ACTING AS FO. NEW CAPT HAD NEVER BEEN INTO RNO BEFORE; WAS VERY AWARE OF TERRAIN AND SPECIAL ENG OUT PROCS. AFTER RECEIVING DSCNT CLRNC AND ALTIMETER SETTING; CAPT PUTS NEW ALTIMETER IN STANDBY ALTIMETER AS A REMINDER; TWO NORMAL ALTIMETERS (CAPT AND FO'S) REMAIN AT 29.92. BRIEFING OF APCH BEGINS AFTER ATIS RECEIVED (NO DATA LINK ATIS AVAILABLE) WHILE DSNDING. BRIEFING TAKES LONGER THAN AVERAGE BECAUSE OF INVOLVED TERRAIN AND MISSED APCH CONSIDERATIONS. BRIEFING IS COMPLETED AS ACFT LEVELS AT 16000 FT. ZOA CALLS WITH CLRNC TO 15000 FT. CREW READS BACK FOR CONFIRMATION. ZOA CONFIRMS 15000 FT AND ASKS FOR PRESENT ALT. CREW RPTS 16000 FT DSNDING NOW TO 15000 FT. ZOA RPTS HE IS SHOWING OUR ALT AT 15500 FT. BOTH CAPT AND FO HAD FAILED TO RESET ALTIMETERS; PASSING THROUGH FL180. NO CONFLICT EXISTED.