JADE is an OFR-hosted platform designed for Financial Stability Oversight Council (FSOC) member agencies to analyze risks to financial stability. To facilitate collaborative research, JADE offers scalable, high-performance computing with analytical software and support for programming languages such as R and Python in a cloud-based environment with analysis-ready data.
Why JADE was Developed
The financial system faces threats from multiple sources, and these threats do not adhere to regulatory boundaries. JADE’s tools will allow FSOC agencies to conduct collaborative analysis. Key to this collaboration is regulators’ access not only to data but to the tools that will help them integrate and analyze data and ultimately produce interdisciplinary research.
Data included in JADE
While we designed JADE to support a variety of research, climate-related financial risk is the first use case the FSOC identified for JADE.
JADE currently provides access to a mix of publicly available climate and financial data, such as data on fires and floods. Members of the FSOC’s Climate-related Financial Risk Committee identified the data OFR should initially make available in JADE.
Ultimately, we designed JADE to be able to support research on a variety of economic-oriented topics, based on the evolving nature of financial-stability risks. As the FSOC identifies additional use cases for JADE, the platform will be able to accommodate a variety of data and add more analytical software as needed.
Who Can Have Access to JADE?
Researchers, analysts, and support staff from OFR and FSOC member agencies, can request access to JADE through their respective agency contact. We plan to onboard approximately three agencies each quarter, based on the readiness of the agencies and their research needs.
A Look to the Future
We intend to expand JADE in terms of both the number of datasets it offers and the number of FSOC member agency users who have access to it. We will add more features and data based on FSOC user requests and feedback.