Office of Financial Research
Encyclopedia
The Office of Financial Research (OFR) is an agency established by the Dodd-Frank Wall Street Reform and Consumer Protection Act within the Treasury Department to improve the quality of financial data available to policymakers and facilitate more robust and sophisticated analysis of the financial system.
"The OFR would eventually issue and maintain two different and very important public databases. One would be a database of the financial instrument types and another a database of financial entities and organizations. The OFR would be linked to a Financial Research and Analysis Center whose job will be to develop intelligence – or actionable data – out of the raw data—so it can identify emerging systemic [risks.] Congress would get an annual report."
"OFR is being led by Lewis Alexander, a counselor to Treasury Secretary Timothy Geithner until the White House appoints a permanent director next year. Treasury Deputy Secretary Neal Wolin has previously told Congress that the Obama administration wants someone with real experience in data collection"
"The OFR would eventually issue and maintain two different and very important public databases. One would be a database of the financial instrument types and another a database of financial entities and organizations. The OFR would be linked to a Financial Research and Analysis Center whose job will be to develop intelligence – or actionable data – out of the raw data—so it can identify emerging systemic [risks.] Congress would get an annual report."
"OFR is being led by Lewis Alexander, a counselor to Treasury Secretary Timothy Geithner until the White House appoints a permanent director next year. Treasury Deputy Secretary Neal Wolin has previously told Congress that the Obama administration wants someone with real experience in data collection"
See also
- Financial Stability Oversight CouncilFinancial Stability Oversight CouncilThe Financial Stability Oversight Council is a United States Federal government organization, established by Title I of the Dodd–Frank Wall Street Reform and Consumer Protection Act, which was signed into law by President Barack Obama on July 21, 2010. Dodd-Frank provides the Council with broad...
- Legal Entity Identification for Financial ContractsLegal Entity Identification for Financial ContractsLegal Entity Identification for Financial Contracts, a Universal Standard for Identifying All Parties to Financial Contracts is a new standard to be established by U.S. Treasury - Office of Financial Research. It is a key element in the broader effort to understand and monitor systemic risk...
- Systemic riskSystemic riskIn finance, systemic risk is the risk of collapse of an entire financial system or entire market, as opposed to risk associated with any one individual entity, group or component of a system. It can be defined as "financial system instability, potentially catastrophic, caused or exacerbated by...
- Dodd-Frank Wall Street Reform and Consumer Protection Act
- Volcker RuleVolcker RuleThe Volcker Rule is a specific section of the Dodd–Frank Wall Street Reform and Consumer Protection Act originally proposed by American economist and former United States Federal Reserve Chairman Paul Volcker to restrict United States banks from making certain kinds of speculative investments that...
- Central limit order bookCentral limit order bookA central limit order book was a centralised database of limit orders proposed by the Securities Exchange Commission. However, the concept was opposed by securities companies who were afraid that such a system will cause them to lose business....