The IMF Executive Board has published its views on the U.S. economy following a consultation with U.S. officials on the country’s economic developments and policies, as authorised under Article IV of the IMF’s Articles of Agreement. In general, the Executive Board welcomed the improvement in the underlying conditions of the U.S. economy. While the strengthening regulation of the banking system (including adoption of Basel III capital rules) was praised, emerging vulnerabilities and risks financial sector still need to be carefully monitored.  The Executive Board also emphasized that completing the implementation of the financial reform agenda was essential to the resilience of the U.S. financial system.