138 
deny each such request not later than 60 days after 
receiving the request. 
(2) TRANSFER OF RECORDS AFTER DENIAL.— 
Not later than 30 days after the Archivist of the 
United States denies a request under paragraph (1), 
the Attorney General shall transfer to the Archivist 
each record for which the request for retention has 
been denied. 
(c) ENFORCEMENT.—If the Attorney General fails to 
comply with the requirements of this section, the Archivist 
of the United States may bring an action in the proper 
district court of the United States to enforce compliance 
with this section. 
SEC. 1002. DATA STANDARDS. 
(a) IN GENERAL.—Subtitle A of title I of the Finan-
cial Stability Act of 2010 (12 U.S.C. 5311 et seq.) is 
amended by adding at the end the following: 
‘‘SEC. 124. DATA STANDARDS. 
‘‘(a) IN GENERAL.—The Secretary of the Treasury 
shall, by rule, promulgate data standards for the informa-
tion reported to member agencies by financial entities 
under the jurisdiction of the member agency and the data 
collected from member agencies on behalf of the Council. 
‘‘(b) STANDARDIZATION.—Member agencies, in con-
sultation with the Secretary of the Treasury, shall imple-
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ment regulations promulgated by the Secretary of the 
Treasury under subsection (a) to standardize the types 
and formats of data reported to member agencies or col-
lected on behalf of the Council, as described under sub-
section (a). If a member agency fails to implement such 
regulations prior to the expiration of the 3-year period fol-
lowing the date of publication of final regulations, the Sec-
retary of the Treasury, in consultation with the Chair-
person, may implement such regulations with respect to 
the financial entities under the jurisdiction of the member 
agency. 
‘‘(c) DATA STANDARDS.— 
‘‘(1) COMMON
IDENTIFIERS
AND
DATA
FOR-
MATS.—The data standards promulgated under sub-
section (a) shall include— 
‘‘(A) common identifiers for information 
reported to member agencies or collected on be-
half of the Council, including a common legal 
entity identifier for all entities required to re-
port to member agencies; and 
‘‘(B) common data formats for information 
reported to member agencies or collected on be-
half of the Council. 
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‘‘(2) DATA
STANDARD
REQUIREMENTS.—The 
data standards promulgated under subsection (a) 
shall, to the extent practicable— 
‘‘(A) render information fully searchable 
and machine-readable; 
‘‘(B) be nonproprietary; 
‘‘(C) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
‘‘(D) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(3) CONSULTATION.—In promulgating data 
standards under subsection (a), the Secretary of the 
Treasury shall consult with other Federal depart-
ments and agencies and multi-agency initiatives re-
sponsible for Federal data standards. 
‘‘(4) INTEROPERABILITY OF DATA.—In promul-
gating data standards under subsection (a), the Sec-
retary of the Treasury shall seek to promote inter-
operability of financial regulatory data across mem-
bers of the Council.’’. 
(b) CLERICAL AMENDMENT.—The table of contents 
under section 1(b) of the Dodd-Frank Wall Street Reform 
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and Consumer Protection Act is amended by inserting 
after the item relating to section 123 the following: 
‘‘Sec. 124. Data standards.’’. 
Æ 
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