In the industrial sector, however, a number of real-time indicators are available, and they show the effect in that sector to have been significant. The Federal Reserve estimates that Hurricane Katrina reduced industrial production by 0.3 percent in August, even though it struck near the end of the month. Oil and gas production and refining were particularly hard hit.
When designing the small banking box we must weigh up the benefits for supervisors, ie ensuring financial stability, against the burden it creates for banks. As a rule of thumb, we can say that any rules that are dispensable for effective supervision are up for negotiation. 10 / 13  BIS central bankers' speeches  6.