The Financial Data Transparency Act (FDTA) calls for the use of open data standards by member agencies of the U.S. Financial Stability Oversight Council: U.S. Treasury, the Securities and Exchange Commission (SEC), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Bureau of Consumer Financial Protection (CFPB), the Federal Reserve System, the National Credit Union Administration (NCUA), and the Federal Housing Finance Agency (FHFA).
Data standards to be established include common identifiers, must be open and nonproprietary, and render data searchable and machine-readable. The FDTA requires the SEC to implement standardized data for municipal bond issuance.
The FDTA is included as TITLE LVIII in the H.R. 7776, the National Defense Authorization Act for Fiscal Year 2023.
Related news, papers, and posts.
The Data Foundation Symposium on Public Data as Strategic Infrastructure will feature interactive demonstrations and formal presentations from Data Foundation Senior Fellows and other invited guest speakers. Public data collected and managed by...
The U.S. Government Accountability Office (GAO) has published the report, REGULATORY REPORTING REFORM: Financial Data Transparency Act Requires Initial Steps Toward Government-wide Data Standards, GAO-26-108420. The report was created to satisfy requirements outlined in...
The Data Foundation Symposium on Public Data as Strategic Infrastructure will feature interactive demonstrations and formal presentations from Data Foundation Senior Fellows and other invited guest speakers. Public data collected and managed by...
Agency-specific FDTA rules need to make sure the data they collect is AI-ready. AI shines when given access to richly contextualized, standardized, structured data and identifiers. While Large Language Models (LLMs) can source...
XBRL US sent a letter to key members of the 119th Congress to emphasize the importance of open data standards as a proven method to meet government efficiency goals. The letter, which was...
Join us online for the Third Annual GovFin Conference!Free livestream - Fireside Chat with Dave Sanchez of the SEC, courtesy of DFIN Every municipal market stakeholder should have a seat at the table...
Comment
You must be logged in to post a comment.