Fed's Olson on regulatory relief

In testimony 'Regulatory relief' given on 22 September Mark Olson of the Federal Reserve said federal regulators see no evidence of significant funding difficulties or problems with balance sheet management at banks in areas affected by Hurricane Katrina.

In testimony prepared for a House panel hearing, Olson said the Fed would exercise prudence in fulfilling its responsibilities to oversee banks in the storm-hit area.

He said regulators understood the unusual circumstances that banks have faced

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