Office of Financial Research

Program Summary by Budget Activity

Dollars in Thousands

 FY 2015 FY 2016 FY 2017 FY 2016 TO FY 2017

Budget Activity Actual Estimated Estimated $ Change % Change

Data Center $17,240 $24,933 $26,039 $1,106 4.44%

Technology Center $30,970 $28,964 $35,391 $6,427 22.19%

Research and Analysis Center $10,396 $15,446 $17,156 $1,710 11.07%

Operations and Support Services $26,110 $29,962 $26,184 ($3,778) -12.61%

Total Cost of Operations $84,716 $99,305 $104,770 $5,465 5.50%

FTE 194 230 255 25 10.87%

Summary

The Dodd-Frank Wall Street Reform and 

Consumer Protection Act of 2010 (the DoddFrank Act) established the Office of Financial 

Research (OFR or Office) within the

Department of the Treasury (Treasury) to 

serve the Financial Stability Oversight Council

(Council), its member agencies, and the public

by improving the quality, transparency, and 

accessibility of financial data and information; 

conducting and sponsoring research related to 

financial stability; and promoting best 

practices in risk management. 

The OFR, as an office within the Treasury 

Department, is aligned with Treasury Strategic 

Goal 1: Promote domestic economic growth 

and stability while continuing reforms of the 

financial system, and Objective 1.3: Complete 

implementation of financial regulatory reform 

initiatives, continue monitoring capital

markets, and address threats to stability. The 

OFR also is aligned with Treasury Strategic 

Goal 5: Create a 21st

-century approach to 

government by improving efficiency, 

effectiveness, and customer interaction, and 

Objective 5.2: Support effective, data-driven 

decision-making and encourage transparency 

through intelligent gathering, analysis, sharing, 

use and dissemination of information.

Aligning to these Treasury goals and 

objectives, and consistent with the Dodd-Frank 

Act, the OFR has established three strategic 

goals to help achieve its mission, as described 

below.1

The OFR is an essential source of data and 

analysis for monitoring threats to financial 

stability.

Key objectives of this goal include:

• The OFR’s monitoring tools and analysis 

are widely used and critical to assessing 

financial stability; 

• Data used to monitor financial stability are 

comprehensive, reliable, and accessible to 

policy makers and the public through the 

OFR; and 

• Data providers and the public trust that 

OFR data are protected and secure.

Standards that improve the quality and 

usefulness of financial data are identified 

and adopted.

Key objectives underlying this goal include:

• Recognition of the need for standards by 

policy makers and industry;

 1 See the OFR’s Strategic Plan for FY 2015-2019 at 

http://financialresearch.gov/strategy-budget/files/Office-of-FinancialResearch-Strategic-Plan-2015-2019.pdf and Treasury’s FY 2014-2017 

Strategic Plan at http://www.treasury.gov/about/budgetperformance/strategic-plan/Documents/2014-

2017_US_TreasuryStrategicPlan.pdf.
• The OFR is the source of expert 

knowledge needed to develop and 

implement types and formats of data 

reported and collected; and

• Financial data standards that create 

efficiencies and facilitate analysis are 

widely used.

Leading edge research improves financial 

stability monitoring and the scope and quality 

of financial data, and informs policy and risk 

management.

Key objectives underlying this goal include:

• The OFR is the recognized center for 

objective, innovative research on financial 

stability and

• OFR research is widely cited and used in 

policy making, risk management, and data 

management.

OFR FY 2017 Budget Highlights

Dollars in Thousands

Office of Financial Research FTE Amount

FY 2016 Estimated 230 $99,305

Changes to Base:

Program Changes

Program Increases 25 $5,465

Personnel Steady State 25 $3,523

Non-Personnel Steady State $1,942

FY 2017 Base 255 $104,770

FY 2017 Estimated 255 $104,770

Explanation of Budget Activities

Data Center ($26,039,000 from Assessments)

The Dodd-Frank Act requires the Data Center, 

on behalf of the Council, to collect, validate, 

and maintain all data necessary to carry out the 

duties of the Office. Under this mandate, the 

Data Center provides data services to federal 

financial regulators to increase efficiency in 

data acquisition and management, reduce 

redundant reporting requirements across the 

regulatory system (including through more 

effective data sharing arrangements), and 

secure sensitive data. The promotion of 

standards for financial data is expected to 

provide benefits to regulators and financial 

market participants by making data 

aggregation easier, improving analysis, and 

reducing costs associated with data collection. 

To support transparency in its operations and 

better public understanding of risks to financial 

stability, the Data Center also publishes data 

and data-related information, as well as 

information on its activities.

Technology Center ($35,391,000 from 

Assessments)

The Technology Center provides missioncritical analytic services to support the OFR’s 

work with complex, sensitive financial data 

and the Office’s expanding research and 

analysis activity. In addition, the Technology 

Center is responsible for safeguarding data and 

systems, and managing all information 

technology capabilities within the OFR. These 

responsibilities include computing and analytic 

platforms, software, telecommunications, 

client applications, and office automation 

solutions.

Research and Analysis ($17,156,000 from 

Assessments)

The Dodd-Frank Act provided that the 

Research and Analysis Center, on behalf of the 

Council, develop and maintain independent 

analytical capabilities and computing 

resources: 

• To develop and maintain metrics and 

reporting systems for risks to the financial 

stability of the United States;

• To monitor, investigate, and report on 

changes in system-wide risk levels and 

patterns to the Council and to Congress; 

• To conduct, coordinate, and sponsor 

research to support and improve regulation 

of financial entities and markets;
• To evaluate and report on stress tests or 

other stability-related evaluations of 

financial entities overseen by Council 

member agencies;

• To maintain the expertise necessary to 

support specific requests for advice and 

assistance from financial regulators;

• To investigate disruptions and failures in 

the financial markets, report findings, and 

make recommendations to the Council 

based on those findings;

• To conduct studies and provide advice on 

the impact of policies related to systemic 

risk; and

• To promote best practices for financial risk 

management.

To support effective achievement of these 

objectives, the OFR is also establishing forums 

and networks to bring together experts from 

within and outside the regulatory system. In 

addition, the OFR is publishing key results of 

its analyses to support transparency in its 

operations and promote public understanding 

of threats to financial stability.

Operations and Support Services

($26,184,000 from Assessments)

These activities cover all operational, legal, 

and administrative functions that support the 

effective, transparent, and well-monitored 

delivery of the OFR’s core outputs related to 

data, research, and analysis. This includes 

support provided through reimbursable 

arrangements with other activities in 

Treasury’s Departmental Offices, as well as 

other service providers.

OFR Performance by Budget Activity

Description of Performance

The OFR is continuing to review its

performance measures in FY 2016 and may 

revise them based the ability to obtain 

additional data. The OFR will continue to 

review all measures as the organization 

matures, and revise them as necessary.

OFR Performance by Budget Activity

Budget 

Activity

Performance Measure

FY 2012 

Actual

FY 2013 

Actual

FY 2014 

Actual

FY 2014

Actual

FY 2015 

Actual

FY 2016 

Target

FY 2017 

Target

Data 

Center

Number of LEIs assigned cumulatively to 

date in the United States and internationally

N/A N/A N/A N/A 395,861 I I

Data 

Center

Number of times that financial data 

standards are incorporated in rules and 

regulations

N/A N/A N/A N/A 2 I I

Research 

and 

Analysis

Number of research and analysis

publications made public year-to-date

N/A 10 15 11 34 25 35

Research 

and 

Analysis

Number of monitor editions, policy analyses, 

and dashboards produced for monitoring 

threats to financial stability

N/A N/A N/A N/A 21 12 15

Key: DISC – Discontinued