Ongoing Data Collection of Centrally Cleared Transactions in the U.S. Repurchase Agreement Market

The Financial Stability Oversight Council (“Council”) recommended an ongoing collection of repo data in its 2016 Annual Report to Congress and maintained this recommendation in its 2017 Annual Report. The expanded monitoring of the repo market made possible by this proposed collection appropriately meets Council duties and purposes because of this market’s crucial role in providing short-term funding and performing other functions for U.S. markets. The data would also support the calculation of the Secured Overnight Funding Rate (“SOFR”), which was selected by the Alternative Reference Rates Committee (“ARRC”) as its preferred alternative rate to U.S. dollar London Interbank Offered Rate (“LIBOR”), as well as the Broad General Collateral Rate (“BGCR”), helping fulfill another Council recommendation on the creation of alternative reference rates.

The latest form for Ongoing Data Collection of Centrally Cleared Transactions in the U.S. Repurchase Agreement Market expires 2022-07-31 and can be found here.

OFR_SFT_1-1

Federal Enterprise Architecture: Economic Development - Financial Sector Oversight