[The Federal Reserve Board Releases Final Rule on Financial Regulatory Data Standards]
The Federal Reserve Board on Thursday released a final rule establishing data standards for information submitted to financial regulatory agencies. The standards, approved by The Federal Reserve Board and other federal financial regulatory agencies, aim to enhance the interoperability of financial regulatory data across agencies by establishing standards for legal entity identifiers and other data elements. The final rule is based on the proposal from August 2024 and has been adjusted according to public feedback, as part of the implementation of the Financial Data Transparency Act of 2022.