12 U.S.C. § 5344 (BANKS AND BANKING)
§ 5344. Organizational structure; responsibilities of primary programmatic units
(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 section 5343 of this title regarding the type and scope of the data to be collected by the Data Center under this paragraph.
(2) Responsibilities
(A) Publication
The Data Center shall prepare and publish, in a manner that is easily accessible to the public—
(i) a financial company reference database;
(ii) a financial instrument reference database; and
(iii) formats and standards for Office data, including standards for reporting financial transaction and position data to the Office.
(B) Confidentiality
The Data Center shall not publish any confidential data under subparagraph (A).
(3) Information security
The Director shall ensure that data collected and maintained by the Data Center are kept secure and protected against unauthorized disclosure.
(4) Catalog of financial entities and instruments
The Data Center shall maintain a catalog of the financial entities and instruments reported to the Office.
(5) Availability to the Council and member agencies
The Data Center shall make data collected and maintained by the Data Center available to the Council and member agencies, as necessary to support their regulatory responsibilities.
(6) Other authority
The Office shall, after consultation with the member agencies, provide certain data to financial industry participants and to the general public to increase market transparency and facilitate research on the financial system, to the extent that intellectual property rights are not violated, business confidential information is properly protected, and the sharing of such information poses no significant threats to the financial system of the United States.
(c) Research and Analysis Center
(1) 1 General duties
The Research and Analysis Center, on behalf of the Council, shall develop and maintain independent analytical capabilities and computing resources—
(A) to develop and maintain metrics and reporting systems for risks to the financial stability of the United States;
(B) to monitor, investigate, and report on changes in systemwide risk levels and patterns to the Council and Congress;
(C) to conduct, coordinate, and sponsor research to support and improve regulation of financial entities and markets;
(D) to evaluate and report on stress tests or other stability-related evaluations of financial entities overseen by the member agencies;
(E) to maintain expertise in such areas as may be necessary to support specific requests for advice and assistance from financial regulators;
(F) to investigate disruptions and failures in the financial markets, report findings, and make recommendations to the Council based on those findings;
(G) to conduct studies and provide advice on the impact of policies related to systemic risk; and
(H) to promote best practices for financial risk management.
(d) Reporting responsibilities
(1) Required reports
Not later than 2 years after July 21, 2010, and not later than 120 days after the end of each fiscal year thereafter, the Office shall prepare and submit a report to Congress.
(2) Content
Each report required by this subsection shall assess the state of the United States financial system, including—
(A) an analysis of any threats to the financial stability of the United States;
(B) the status of the efforts of the Office in meeting the mission of the Office; and
(C) key findings from the research and analysis of the financial system by the Office.
(Pub. L. 111–203, title I, § 154, July 21, 2010, 124 Stat. 1416.)