WASHINGTON - Federal Reserve Governor John P. LaWare said the U.S. banking system does not appear threatened by exposure to Olympia & York, the Canadian-owned real estate concern in bankruptcy proceedings.

"Although some U.S. banks - a half dozen or so - also have sizable claims on O&Y, their exposures constitute a relatively small share of O&Y debt and does not appear to be unmanageable," Mr. LaWare said in an appearance before the House Banking Committee.

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