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12 U.S.C. § 5343 — Data standards
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section—
(1) the term “covered agencies” means—
(A) the Department of the Treasury;
(B) the Board of Governors;
(C) the Office of the Comptroller of the Currency;
(D) the Bureau;
(E) the Commission;
(F) the Corporation;
(G) the Federal Housing Finance Agency;
(H) the National Credit Union Administration Board; and
(I) any other primary financial regulatory agency designated by the Secretary;
(2) the terms “data asset”, “machine-readable”, “metadata”, and “open license” have the meanings given the terms in [section 3502 of title 44](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title44-section3502&num=0&edition=prelim); and
(3) the term “data standard” means a standard that specifies rules by which data is described and recorded.
**(b) Rules**
(1) **Proposed rules** — Not later than 18 months after December 23, 2022, the heads of the covered agencies shall jointly issue proposed rules for public comment that establish data standards for—
(A) the collections of information reported to each covered agency by financial entities under the jurisdiction of the covered agency; and
(B) the data collected from covered agencies on behalf of the Council.
(2) **Final rules** — Not later than 2 years after December 23, 2022, the heads of the covered agencies shall jointly promulgate final rules that establish the data standards described in paragraph (1).
**(c) Data standards**
(1) **Common identifiers; quality** — The data standards established in the final rules promulgated under subsection (b)(2) shall—
(A) include common identifiers for collections of information reported to covered agencies or collected on behalf of the Council, which shall include a common nonproprietary legal entity identifi
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Source location: Title 12, Chapter 53, § 5343; chapter-053-wall-street-reform-and-consumer-protection.md
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**(a) Definitions** In this section—
(1) the term “covered agencies” means—
(A) the Department of the Treasury;
(B) the Board of Governors;
(C) the Office of the Comptroller of the Currency;
(D) the Bureau;
(E) the Commission;
(F) the Corporation;
(G) the Federal Housing Finance Agency;
(H) the National Credit Union Administration Board; and
(I) any other primary financial regulatory agency designated by the Secretary;
(2) the terms “data asset”, “machine-readable”, “metadata”, and “open license” have the meanings given the terms in [section 3502 of title 44](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title44-section3502&num=0&edition=prelim); and
(3) the term “data standard” means a standard that specifies rules by which data is described and recorded.
**(b) Rules**
(1) **Proposed rules** — Not later than 18 months after December 23, 2022, the heads of the covered agencies shall jointly issue proposed rules for public comment that establish data standards for—
(A) the collections of information reported to each covered agency by financial entities under the jurisdiction of the covered agency; and
(B) the data collected from covered agencies on behalf of the Council.
(2) **Final rules** — Not later than 2 years after December 23, 2022, the heads of the covered agencies shall jointly promulgate final rules that establish the data standards described in paragraph (1).
**(c) Data standards**
(1) **Common identifiers; quality** — The data standards established in the final rules promulgated under subsection (b)(2) shall—
(A) include common identifiers for collections of information reported to covered agencies or collected on behalf of the Council, which shall include a common nonproprietary legal entity identifier that is available under an open license for all entities required to report to covered agencies; and
(B) to the extent practicable—
(i) render data fully searchable and machine-readable;
(ii) enable high quality data through schemas, with accompanying metadata documented in machine-readable taxonomy or ontology models, which clearly define the semantic meaning of the data, as defined by the underlying regulatory information collection requirements;
(iii) ensure that a data element or data asset that exists to satisfy an underlying regulatory information collection requirement be consistently identified as such in associated machine-readable metadata;
(iv) be nonproprietary or made available under an open license;
(v) incorporate standards developed and maintained by voluntary consensus standards bodies; and
(vi) use, be consistent with, and implement applicable accounting and reporting principles.
(2) **Consultation; interoperability** — In establishing data standards in the final rules promulgated under subsection (b)(2), the heads of the covered agencies shall—
(A) consult with other Federal departments and agencies and multi-agency initiatives responsible for Federal data standards; and
(B) seek to promote interoperability of financial regulatory data across members of the Council.
**(d) Effective date** The data standards established in the final rules promulgated under subsection (b)(2) shall take effect not later than 2 years after the date on which those final rules are promulgated under that subsection.
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Federal law — U.S. Code and appendices · legal_authorities
As used in this subchapter—
(1) the term “agency” means any executive department, military department, Government corporation, Government controlled corporation, or other establishment in the executive branch of the Government (including the Executive Office of the President), or any independent regulatory agency, but does not include—
(A) the Government Accountability Office;
(B) Federal Election Commission;
(C) the governments of the District of Columbia and of the territories and possessions of the United States, and their various subdivisions; or
(D) Government-owned contractor-operated facilities, including laboratories engaged in national defense research and production activities;
(2) the term “burden” means time, effort, or financial resources expended by persons to generate, maintain, or provide information to or for a Federal agency, including the resources expended for—
(A) reviewing instructions;
(B) acquiring, installing, and utilizing technology and systems;
(C) adjusting the existing ways to comply with any previously applicable instructions and requirements;
(D) searching data sources;
(E) completing and reviewing the collection of information; and
(F) transmitting, or otherwise disclosing the information;
(3) the term “collection of information”—
(A) means the obtaining, causing to be obtained, soliciting, or requiring the disclosure to third parties or the public, of facts or opinions by or for an agency, regardless of form or format, calling for either—
(i) answers to identical questions posed to, or identical reporting or recordkeeping requirements imposed on, ten or more persons, other than agencies, instrumentalities, or employees of the United States; or
(ii) answers to questions posed to agencies, ins
Source: Supplied U.S. Code snapshot — release unconfirmed · 44 U.S.C. § 3502
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary is authorized to promulgate regulations to implement and administer the grant programs and undertakings authorized by this subchapter.
**(b) Regulatory authority** Regulations prescribed under this section may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of grant programs, undertakings, or eligible entities, as, in the judgment of the Secretary, are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion of this subchapter, or to facilitate compliance with this subchapter.
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Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “Securities Exchange Act of 1934.”
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Each agency shall make available to the public information as follows:
(1) Each agency shall separately state and currently publish in the Federal Register for the guidance of the public—
(A) descriptions of its central and field organization and the established places at which, the employees (and in the case of a uniformed service, the members) from whom, and the methods whereby, the public may obtain information, make submittals or requests, or obtain decisions;
(B) statements of the general course and method by which its functions are channeled and determined, including the nature and requirements of all formal and informal procedures available;
(C) rules of procedure, descriptions of forms available or the places at which forms may be obtained, and instructions as to the scope and contents of all papers, reports, or examinations;
(D) substantive rules of general applicability adopted as authorized by law, and statements of general policy or interpretations of general applicability formulated and adopted by the agency; and
(E) each amendment, revision, or repeal of the foregoing.
Except to the extent that a person has actual and timely notice of the terms thereof, a person may not in any manner be required to resort to, or be adversely affected by, a matter required to be published in the Federal Register and not so published. For the purpose of this paragraph, matter reasonably available to the class of persons affected thereby is deemed published in the Federal Register when incorporated by reference therein with the approval of the Director of the Federal Register.
(2) Each agency, in accordance with published rules, shall make available for public inspection in an electronic format—
(A) final opinions, including concurring and dissen
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions.—** For purposes of this section—
(1) the term “agency” means agency as defined in section 552(e) 11 See References in Text note below. of this title;
(2) the term “individual” means a citizen of the United States or an alien lawfully admitted for permanent residence;
(3) the term “maintain” includes maintain, collect, use, or disseminate;
(4) the term “record” means any item, collection, or grouping of information about an individual that is maintained by an agency, including, but not limited to, his education, financial transactions, medical history, and criminal or employment history and that contains his name, or the identifying number, symbol, or other identifying particular assigned to the individual, such as a finger or voice print or a photograph;
(5) the term “system of records” means a group of any records under the control of any agency from which information is retrieved by the name of the individual or by some identifying number, symbol, or other identifying particular assigned to the individual;
(6) the term “statistical record” means a record in a system of records maintained for statistical research or reporting purposes only and not used in whole or in part in making any determination about an identifiable individual, except as provided by [section 8 of title 13](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title13-section8&num=0&edition=prelim);
(7) the term “routine use” means, with respect to the disclosure of a record, the use of such record for a purpose which is compatible with the purpose for which it was collected;
(8) the term “matching program”—
(A) means any computerized comparison of—
(i) two or more automated systems of records or a system of records with non-Federal records for the purpose
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** Returns and return information shall be confidential, and except as authorized by this title—
(1) no officer or employee of the United States,
(2) no officer or employee of any State, any local law enforcement agency receiving information under subsection (i)(1)(C) or (7)(A), any tribal or local child support enforcement agency, or any local agency administering a program listed in subsection (l)(7)(D) who has or had access to returns or return information under this section or section 6104(c), and
(3) no other person (or officer or employee thereof) who has or had access to returns or return information under subsection (c), subsection (e)(1)(D)(iii), paragraph (10), (13), (14), or (15) of subsection (k), paragraph (6), (8), (10), (12), (13) (other than subparagraphs (D)(v) and (D)(vi) thereof), (16), (19), (20), or (21) of subsection (l), paragraph (2) or (4)(B) of subsection (m), or subsection (n),
shall disclose any return or return information obtained by him in any manner in connection with his service as such an officer or an employee or otherwise or under the provisions of this section. For purposes of this subsection, the term “officer or employee” includes a former officer or employee.
**(b) Definitions** For purposes of this section—
(1) **Return** — The term “return” means any tax or information return, declaration of estimated tax, or claim for refund required by, or provided for or permitted under, the provisions of this title which is filed with the Secretary by, on behalf of, or with respect to any person, and any amendment or supplement thereto, including supporting schedules, attachments, or lists which are supplemental to, or part of, the return so filed.
(2) **Return information** — The term “return information” means—
(
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** For purposes of this section, the following definitions shall apply:
(1) **Generally applicable leverage capital requirements** — The term “generally applicable leverage capital requirements” means—
(A) the minimum ratios of tier 1 capital to average total assets, as established by the appropriate Federal banking agencies to apply to insured depository institutions under the prompt corrective action regulations implementing section 1831o of this title, regardless of total consolidated asset size or foreign financial exposure; and
(B) includes the regulatory capital components in the numerator of that capital requirement, average total assets in the denominator of that capital requirement, and the required ratio of the numerator to the denominator.
(2) **Generally applicable risk-based capital requirements** — The term “generally applicable risk-based capital requirements” means—
(A) the risk-based capital requirements, as established by the appropriate Federal banking agencies to apply to insured depository institutions under the prompt corrective action regulations implementing section 1831o of this title, regardless of total consolidated asset size or foreign financial exposure; and
(B) includes the regulatory capital components in the numerator of those capital requirements, the risk-weighted assets in the denominator of those capital requirements, and the required ratio of the numerator to the denominator.
(3) **Definition of depository institution holding company** — The term “depository institution holding company” means a bank holding company or a savings and loan holding company (as those terms are defined in [section 1813 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edit
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Mitigatory actions** If the Board of Governors determines that a bank holding company with total consolidated assets of $250,000,000,000 or more, or a nonbank financial company supervised by the Board of Governors, poses a grave threat to the financial stability of the United States, the Board of Governors, upon an affirmative vote of not fewer than ⅔ of the voting members of the Council then serving, shall—
(1) limit the ability of the company to merge with, acquire, consolidate with, or otherwise become affiliated with another company;
(2) restrict the ability of the company to offer a financial product or products;
(3) require the company to terminate one or more activities;
(4) impose conditions on the manner in which the company conducts 1 or more activities; or
(5) if the Board of Governors determines that the actions described in paragraphs (1) through (4) are inadequate to mitigate a threat to the financial stability of the United States in its recommendation, require the company to sell or otherwise transfer assets or off-balance-sheet items to unaffiliated entities.
**(b) Notice and hearing**
(1) **In general** — The Board of Governors, in consultation with the Council, shall provide to a company described in subsection (a) written notice that such company is being considered for mitigatory action pursuant to this section, including an explanation of the basis for, and description of, the proposed mitigatory action.
(2) **Hearing** — Not later than 30 days after the date of receipt of notice under paragraph (1), the company may request, in writing, an opportunity for a written or oral hearing before the Board of Governors to contest the proposed mitigatory action. Upon receipt of a timely request, the Board of Governors shall fix a time (not late
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** There are established within the Office, to carry out the programmatic responsibilities of the Office—
(1) the Data Center; and
(2) the Research and Analysis Center.
**(b) Data Center**
(1) **General duties**
(A) *Data collection* — The Data Center, on behalf of the Council, shall collect, validate, and maintain all data necessary to carry out the duties of the Data Center, as described in this part. The data assembled shall be obtained from member agencies, commercial data providers, publicly available data sources, and financial entities under subparagraph (B).
(B) *Authority*
(i) *In general* — The Office may, as determined by the Council or by the Director in consultation with the Council, require the submission of periodic and other reports from any financial company for the purpose of assessing the extent to which a financial activity or financial market in which the financial company participates, or the financial company itself, poses a threat to the financial stability of the United States.
(ii) *Mitigation of report burden* — Before requiring the submission of a report from any financial company that is regulated by a member agency, any primary financial regulatory agency, a foreign supervisory authority, or the Office shall coordinate with such agencies or authority, and shall, whenever possible, rely on information available from such agencies or authority.
(iii) *Collection of financial transaction and position data* — The Office shall collect, on a schedule determined by the Director, in consultation with the Council, financial transaction data and position data from financial companies.
(C) *Rulemaking* — The Office shall promulgate regulations pursuant to subsections (a)(1), (a)(2), (a)(7), and (c)(1) of [se
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5362
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Federal law — U.S. Code and appendices · legal_authorities
Page 1851
TITLE 12—BANKS AND BANKING
§ 5343
(h) Technical and professional advisory commit-
tees
The Office, in consultation with the Chair-
person, may appoint such special advisory, tech-
nical, or professional committees as may be use-
ful in carrying out the functions of the Office,
and the members of such committees may be
staff of the Office, or other persons, or both.
(i) Fellowship program
The Office, in consultation with the Chair-
person, may establish and maintain an academic
and professional fellowship program, under
which qualified academics and professionals
shall be invited to spend not longer than 2 years
at the Office, to perform research and to provide
advanced training for Office personnel.
(Pub. L. 111–203, title I, § 152, July 21, 2010, 124
Stat. 1413.)
Editorial Notes
REFERENCES IN TEXT
Level III of the Executive Schedule, referred to in
subsec. (b)(3), is set out in section 5314 of Title 5, Gov-
ernment Organization and Employees.
CODIFICATION
Section is comprised of section 152 of Pub. L. 111–203.
Subsecs. (d)(3), (4) and (j) of section 152 amended sec-
tion 1833b of this title and sections 3132 and 5314 of Title
5, Government Organization and Employees, respec-
tively.
§ 5343. Purpose and duties of the Office
(a) Purpose and duties
The purpose of the Office is to support the
Council in fulfilling the purposes and duties of
the Council, as set forth in part A, and to sup-
port member agencies, by—
(1) collecting data on behalf of the Council,
and providing such data to the Council and
member agencies;
(2) standardizing the types and formats of
data reported and collected;
(3) performing applied research and essential
long-term research;
(4) developing tools for risk measurement
and monitoring;
(5) performing other
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 5343
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