Department of the Treasury – Budget in Brief

Office of Financial Research

Program Summary by Budget Activity

Dollars in Thousands

Summary

The Office of Financial Research (OFR or 

Office) resides within the Department of the 

Treasury. In carrying out its mission, the OFR 

seeks to achieve its vision of a transparent, 

efficient, and stable financial system. The 

OFR’s work contributes to making informed 

and comprehensive policies and taking actions 

that will strengthen the financial system. The 

Office monitors the financial environment for 

the emergence of new vulnerabilities and 

migration of financial activity that could 

threaten financial stability.

To align with the Administration’s initiative to 

improve government efficiency and 

effectiveness, the OFR is implementing a 

staffing streamlining effort to ensure 

appropriate levels for maximum efficiency.

OFR FY 2018 Budget Highlights

Dollars in Thousands

Office of Financial Research FTE Amount

FY 2017 Estimated 223 $101,407

Changes to Base:

Program Changes

Program Decreases (84) ($25,351)

Personnel (84) ($17,824)

Non-Personnel ($7,527)

FY 2018 Base 139 $76,056

FY 2018 Estimated 139 $76,056

Explanation of Budget Activities

Data Center ($16,865,000 from Assessments)

As required by statute, the Data Center, on 

behalf of the Council, collects, validates, and 

maintains all data necessary to carry out the 

Center’s duties. Under this mandate, the Data 

Center works to increase efficiency in data 

acquisition and management; reduce redundant 

reporting requirements across the regulatory 

system (including through more effective datasharing arrangements); and to ensure the 

security of sensitive data.

Technology Center ($27,281,000 from 

Assessments)

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

work with complex, sensitive financial data 

and the Office’s research and analysis 

activities. In addition, the Technology Center 

is responsible for safeguarding data and 

systems, and managing all IT capabilities 

within the OFR. These responsibilities include 

computing and analytic platforms, software, 

telecommunications, client applications, and 

office automation solutions.

Research and Analysis ($11,573,000 from 

Assessments)

Through its Working Paper Series, Brief 

Series, Staff Discussion Papers Series, and 

OFR annual reports, the OFR publishes results 

of its analysis to be transparent in its 

FY 2016 FY 2017 FY 2018

Budget Activity Actual Estimated Estimated $ Change % Change

Column1 Column3 Column32 Column4 Column5 Column6

Data Center $16,477 $19,157 $16,865 ($2,292) -11.96%

Technology Center $32,132 $35,562 $27,281 ($8,281) -23.29%

Research and Analysis Center $14,239 $17,719 $11,573 ($6,146) -34.69%

Operations and Support Services $32,026 $28,969 $20,337 ($8,632) -29.80%

Total Cost of Operations $94,874 $101,407 $76,056 ($25,351) -25.00%

FTE 208 223 139 (84) -37.67%

FY 2017 TO FY 2018
Department of the Treasury – Budget in Brief

operations and promote public understanding 

of threats to financial stability. In addition, the 

OFR’s Research Seminar Series allows the 

OFR’s research staff opportunities to 

collaborate with external experts and seek 

feedback from them. The OFR is establishing 

forums and networks to bring together experts 

from within and outside the regulatory system. 

Operations and Support Services

($20,337,000 from Assessments)

This category contains the activities of the 

Director’s Office, Operations, External 

Affairs, and Chief Counsel. The category 

includes support provided through a shared 

services model and reimbursable arrangements 

with Treasury’s Departmental Offices; 

personnel benefits services from the Office of 

the Comptroller of the Currency; and services 

from Treasury’s Bureau of the Fiscal Service 

Administrative Resource Center, including 

services related to human resources, 

procurement, travel, and financial 

management. 

OFR Performance by Budget Activity

FY 2014 FY 2015 FY 2016 FY 2017 FY 2018

FY 2014 –

FY 2016

Budget Activity Performance Measures Actual Actual Actual Target Target Trend

Data Center

Number of LEIs Issued 

Cumulatively in the United States 

and Internationally

N/A 395,861 464,412 I I N/A

Data Center

Number of Times That Financial

Data Standards Related are 

Incorporated in Rules and 

Regulations

N/A 2 9 I I N/A

Research and 

Analysis Center

Number of Research and Analysis 

Publications Made Public Year-toDate15 34 24 28 35

Research and 

Analysis Center

Number of monitor editions, policy 

analysis, and dashboards produced 

for monitoring threats to financial 

stability

N/A 21 34 12 34

Key: I – Indicator

Description of Performance

The OFR assesses its performance measures 

annually and revises them, if appropriate, to 

ensure their continued usefulness for 

management decision-making and improved 

results.