February 15, 2007
HP-265

Steel Statement on GAO Basel II Report

Treasury Under Secretary for Domestic Finance Robert K. Steel released the following statement today regarding the release of the Government Accountability Office's (GAO) report on the Basel II Accord.

"Treasury is pleased that the GAO report supports the banking regulators moving forward to finalize the Basel II rules. The time has come to act; we urge the regulators to reach a consensus quickly."