Remarks by Director Falaschetti at the Open Session of the Meeting of the Financial Stability Oversight Council
Published: February 4, 2022
As prepared for delivery
WASHINGTON – Thank you, Secretary Yellen.
Data gaps can prevent financial regulators from identifying and addressing risks to financial stability. At times, to form a more complete picture, we may need to fill gaps by collecting new data from firms or markets. The Council’s Hedge Fund Working Group, among others, identified gaps in data on uncleared bilateral repurchase agreements. Consistent with the OFR’s statutory authority to support the FSOC with data and research insights, OFR is laying the groundwork to address this critical data need through a pilot data collection. We look forward to beginning the rulemaking process to establish a permanent collection as soon as we have sufficient information from the pilot.