The Treasury Department’s Office of Financial Research is requesting comment on a proposed rule to establish a data collection covering centrally cleared funding transactions in the U.S. repurchase agreement (repo) market.
The proposed data collection would enhance the ability of the Financial Stability Oversight Council to identify and monitor potential risks to U.S. financial stability by closing the data gap on centrally cleared repo transactions.
In addition, the proposed collection would support the calculation of certain reference rates, particularly alternatives to the U.S. dollar London Interbank Offered Rate (LIBOR), which has been used as a benchmark to set interest rates on trillions of dollars of retail mortgages, private student loans, corporate loans, derivatives, and other financial products.
The full press release can be found here: https://www.financialresearch.gov/press-releases/.
The OFR home page is at: https://www.financialresearch.gov/.
