Developing Best Practices for Regulatory Data Collections

What approaches deliver the best results in collecting regulatory data? This OFR viewpoint paper offers guidelines for collecting comprehensive, high quality, and interoperable data for financial stability analysis, market monitoring, and policymaking. The paper also identifies pitfalls that financial regulators may encounter. (Viewpoint Paper no. 16-01)

Summary

Comprehensive, high quality, interoperable data are increasingly important for financial stability analysis, market monitoring, and policymaking. They are also critical for risk management at financial firms. Members of the Financial Stability Oversight Council (FSOC) collect a significant amount of data for these purposes and their needs are increasing. Risk managers use the same or similar data to assess enterprise risk; clearly, their needs also are increasing. The OFR prepared this report to initiate a discussion about identifying best practices in financial regulatory data collection, with a view to aligning the interests of government officials and the industry.