Recent events relating to US Basel II implementation As most of you know, there have been two important recent events related to Basel II implementation in the United States, both of which occurred on February 15. The first was the release of a report by the Government Accountability Office (GAO) on U.S. implementation of Basel II.
The second was issuance of proposed Basel II supervisory guidance by the U.S. banking agencies. BIS Review 18/2007  1  GAO study The Federal Reserve welcomes the recent GAO report on Basel II implementation in the United States. We believe this report will help move the U.S. Basel II process forward.