Comment Deadline Set on OFR Proposal to Collect Non-Centrally Cleared Bilateral Repo Transaction Data

Comments on a Treasury Department Office of Financial Research ("OFR") proposal to require certain institutions to submit daily reports on outstanding non-centrally cleared bilateral repurchase agreement transactions are due by March 10, 2023. The Notice was published in the Federal Register.

As previously covered, the proposal would require covered firms to provide 33 data elements for all repo transactions within the scope of the reporting requirement. Under the proposal, the reporting requirements would apply to broker-dealers and government securities broker-dealers that average over $10 billion a day in non-centrally cleared bilateral repurchase transactions. For investment advisers, the requirement would apply to advisers that manage over $1 billion in assets and whose advised funds average over $10 billion in bilateral repo transactions per day with entities other than broker-dealers or government securities dealers. For other financial companies, the requirement would apply to entities with over $1 billion in assets that average over $10 billion a day in bilateral repo transactions with other than broker-dealers or government securities dealers.