What GAO Found The Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System, and Office of the Comptroller of the Currency help develop financial standards by participating in international standard-setting bodies, such as the Basel Committee on Banking Supervision.
These banking agencies also conduct joint work with or provide technical assistance to certain bodies in which they are not members. Federal Banking Agencies’ Participation in Key International Standard-Setting Bodies, 2010–2025 The banking agencies were active participants in developing or updating international standards, guidelines, or informational publications from 2010 through 2025.
Along with other standard-setting body members, they helped develop 22 standards and at least 120 guidelines and informational publications, according to GAO’s review of standard-setting body documentation and agency staff.
These banking agencies also conduct joint work with or provide technical assistance to certain bodies in which they are not members.
Federal Banking Agencies’ Participation in Key International Standard-Setting Bodies, 2010–2025 The banking agencies were active participants in developing or updating international standards, guidelines, or informational publications from 2010 through 2025.
Along with other standard-setting body members, they helped develop 22 standards and at least 120 guidelines and informational publications, according to GAO’s review of standard-setting body documentation and agency staff.
Members generally are expected but are not legally required to implement standards domestically, whereas implementation of guidelines and informational publications is encouraged but not expected. The banking agencies implemented international standards primarily through domestic rulemaking.