The Office of Financial Research (OFR) has adopted a Final Rule establishing a data collection for certain non-centrally cleared bilateral transactions in the U.S. repurchase agreement (repo) market. This collection requires daily reporting to the OFR by certain brokers, dealers, and other financial companies with large exposures to non-centrally cleared bilateral repo (NCCBR). The collected data will be used to support the work of the Financial Stability Oversight Council, its member agencies, and the OFR to identify and monitor risks to financial stability.
The Final Rule requires certain financial companies to report transaction-level NCCBR data on a daily basis. Financial companies are defined as Covered Reporters under two categories. The first category includes brokers and dealers, while the second includes other financial companies. All Covered Reporters have large exposures to the NCCBR market, with at least $10 billion in average daily total outstanding commitments to extend guarantees on and borrow cash through NCCBR transactions over all business days during the prior calendar quarter.