U.S. Department of the Treasury's Chairman Reed on Legal Entity Identifiers

The Treasury's Office of Financial Research, Chairman Matthew Reed, released material focusing on the benefits of legal entity identifiers ("LEIs") to financial market participants and government regulators worldwide.

LEIs are expected to be adopted by all legal entities engaged in financial market transactions globally, and are expected to be valuable in regulatory reporting.

The Treasury materials focus on certain LEI basics, explaining that an LEI is a 20-digit, alphanumeric code that connects to business information. This code, which conforms to specifications developed by the International Organization for Standardization ("ISO"), is being put into practice through a framework that "adheres to basic principles," including requirements that the LEI be unique and freely available to the public.

See: PowerPoint and Treasury Handout.