Office of Financial Research Launches Joint Analysis Data Environment for FSOC
Published: July 28, 2023
WASHINGTON, DC – Today, the Office of Financial Research (OFR) announces the launch of JADE, the Joint Analysis Data Environment. JADE is an OFR-hosted platform designed for Financial Stability Oversight Council (FSOC) member agencies to jointly analyze financial-stability risks.
“Risks to financial stability do not adhere to regulatory boundaries. Risks travel from one regulated space to another,” said James Martin, Acting Director of the Office of Financial Research. “It is important to look across the financial system to see where risks to the financial system are developing and where they may spread. This requires access to a cross-section of data and the tools to jointly analyze it.”
JADE will enable collaborative, interdisciplinary research on financial stability by providing FSOC member agencies with access to analysis-ready data, analytical software, and high-performance computing in a secure, cloud-based environment. While the OFR designed JADE to support research on a variety of financial stability topics, 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. The OFR plans to add more analytical software and additional data from government and other sources in the coming months. As the FSOC identifies additional use cases for JADE, the platform will be able to accommodate a variety of data and analytical software as needed.
The OFR helps promote financial stability by looking across the financial system to measure and analyze risks, perform essential research, and collect and standardize financial data, principally to support the Financial Stability Oversight Council and its member agencies. In addition, the Dodd-Frank Wall Street Reform and Consumer Protection Act requires the OFR to analyze threats to the financial stability of the United States each year and provide a report to Congress with its key findings. For more information, visit us at https://www.financialresearch.gov/.