Fixing financial data to assess systemic risk
This paper first describes the unique challenges that financial data present. It then describes a strategy to bring financial data into the 21st century. That strategy would set a timeline for identifying and closing data gaps; improving standards; sharing data, both among authorities and with the public; and accelerating the adoption of new technologies. Finally, it describes the role the [Office of Financial Research – OFR] should play in driving that strategy, working closely with regulators on the Financial Stability Oversight Council (FSOC).
The full article is available at https://www.brookings.edu/research/fixing-financial-data-to-assess-systemic-risk/