About a-team Marketing Services
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Office of Financial Research Promotes Data Standards

Subscribe to our newsletter

The Office of Financial Research (OFR) has released its 2018 Annual Report, stating that risks to US financial stability remain in the medium range and noting data initiatives including work to improve financial data standards and proposals to collect data on cleared bilateral repurchase agreements (repos) to improve regulators’ ability to monitor risks to financial stability.

The OFR was established after the 2008 financial crisis by the Dodd-Frank Act to promote financial stability and ‘shine a light in the dark corners of the financial system to see where risks are going, assess how much of a threat they might pose, and provide policymakers with financial analysis, information, and evaluation of policy tools to mitigate them’. It is also required to make a yearly report.

This year’s focus on data initiatives includes advancing the Legal Entity Identifier (LEI) and other data standards. On the LEI, the report states: “In FY 2018, the LEI system moved from a start-up to an operational stage. . .We will continue to provide strong, consistent leadership on the LEI among our fellow regulators in the US.”

The OFR’s proposed repo rule requires all counterparties and intermediaries to obtain LEIs, improving regulators’ ability to aggregate total exposures for risk monitoring. The report also notes continued private sector adoption of the LEI as it is increasingly recognised as a global standard.

As well as work on data standards for the repo market, the OFR continues to work on data standards for derivatives and has been influential in the development and publishing of final technical guidance on the unique transaction identifier (UTI), unique product identifier (UPI), and the 101 critical data elements through 2018.

Making sure its own house is in order, the OFR notes: “We recognised during the fiscal year that we needed to improve our data management to continue providing timely, relevant, and accurate data for our researchers and the Financial Stability Oversight Council (FSOC). In response, we developed a standard operating procedure for data management and a roadmap for improving our data management practices over the next three years.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: The Data Office at a Crossroads — AI Governance, Organisational Design, and the Evolving Mandate of the CDO

Date: 28 July 2026 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Who owns AI governance in a capital markets firm – and is the Data Office structured to bear that weight? These questions sit at the heart of A-Team Research’s latest findings, presented here for the first time: the combined...

BLOG

Financial Operations Has an Invisible Tax Problem. AI Is Starting to Fix It

By Neil Vernon, chief product officer at Gresham. The financial services industry has spent considerable energy debating whether AI is production-ready for regulated operations. That debate has been asking the wrong question. Readiness is not the constraint; targeting is. The real question is whether firms have correctly identified where AI can address costs that have...

EVENT

TradingTech Summit New York

Our TradingTech Summit in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

AI in Capital Markets Handbook 2026

AI adoption in capital markets has moved into a more disciplined phase. The priority is now controlled deployment: where AI can be used safely, where it can deliver measurable value, and how outputs can be governed, monitored and evidenced. The 2026 edition of the AI in Capital Markets Handbook examines how AI is being applied...