Help with time stamps in SQL

I have a number of mass database updates where SQL would be very convenient 
instead of writing RPG programs. 
 
The complication is that my UPDATE statement also needs to populate a couple of 
audit fields: a 7 digit numeric field that holds the Last Change Date (CYYMMDD 
format) and a 6 digit numeric field for the Last Change Time (HHMMSS format).
 
For example, a record updated on Jan 20, 2007 at 11:30:43AM should be updated 
with Change Date = 1070120 and Change Time = 113043 (since we are already in 
the third millennium, I don't need to be concerned with the zero century digit 
for dates earlier than 2000).
 
Is there a way to retrieve the current date and time into my UPDATE statement 
and format them to obtain the time stamp fields that I need?
 
Thank you!