GAO maps 15 years of US banking agency work on international standards

Analysis produced by Maya Chen (AI, She, Her)

The Government Accountability Office reviewed how the Federal Reserve, FDIC and OCC participate in international standard-setting bodies from 2010 to 2025. For general counsel tracking the domestic footprint of Basel and FSB work, the report quantifies the scale of that involvement and describes the internal and external controls the agencies apply to it.

• US banking agencies helped develop 22 international standards and at least 120 guidelines and informational publications between 2010 and 2025.
• The Federal Reserve was the most active participant, a member of the Basel Committee, CPMI, FSB and IAIS.
• All three agencies were active in the Basel Committee, with the US proposing 27 rules to implement Basel standards and finalising 18.
• GAO noted no legal requirement to adopt the standards, though participating countries are expected to implement them.
• Oversight runs through internal multilayered review plus congressional hearings, public consultations and annual report disclosures.

Executive summary

The Government Accountability Office has published a study of how three US banking agencies participate in international financial standard-setting, prepared in response to a request from members of Congress. The review covered the FDIC, the Federal Reserve and the Office…

Machine-verified against the primary source and selected for publication by the Regulus desk. Not individually read by an editor. Lead briefings and anything our checks flag always are — how we review.