WASHINGTON, March 14 (Xinhua) -- The U.S. Treasury Department will announce on Wednesday its plan for resolving the financial dispute with the Democratic People's Republic of Korea (DPRK) concerning the Banco Delta Asia in Macau, U.S. media reported.

    Stuart Levey, under secretary of treasury for terrorism and financial intelligence, will make public the final regulation concerning the Macau-based Banco Delta Asia at a press conference later Wednesday.

    According to U.S. media reports, Levey will order U.S. banks to sever ties with the Macau-based bank, and this will clear the way for the DPRK to recover at least some of the frozen funds in the bank.

    As part of the nuclear deal reached during the six-party talks in Beijing on Feb. 13, the United States agreed to settle the financial dispute with the DPRK within 30 days.

    The United States has accused the DPRK of using the bank to launder illegal earnings and the DPRK has urged the United States to lift the sanctions.

    The United States slapped sanctions on Banco Delta Asia in 2005 and put it on a money-laundering blacklist, prompting Macau to freeze the 24 million dollars believed to belong to the DPRK. In return, the DPRK boycotted the subsequent six-party talks for more than one year.