Statement on the Report of the International Financial Institution Advisory Commission

This is a proud moment for me. I have appeared many times as a witness before this Committee in the past. Today I appear as Chair of the International Financial Institution Advisory Commission to testify on the bipartisan report that the Commission released yesterday. Congress asked the Commission to consider the changes that should be made in seven international financial institutions in light of the major changes in financial markets and the economic environment in recent decades and to report in six months. That was a very challenging assignment. It could not have been completed without a prodigious effort by the Commission and its staff. I am pleased to have had the opportunity to lead that effort and to have produced a substantive report that attracted bipartisan support.