The Federal Reserve BoardÂ looks to designateÂ the Financial Industry Regulatory Authority as an agentÂ to help the board collect information from banks regardingÂ U.S. Treasury securities in the secondary market.
FRB said Friday it seeks publicÂ input on its data collection proposal and believes the initiative willÂ complement the mission ofÂ the Securities and Exchange Commission.
The board added SEC approved FINRA’s new policy that requiresÂ the self-regulatory organization’s broker-dealer members to report secondary market transactions.
Federal Reserve Governor Jerome Powell said the collection of the data will help the U.S. official sector gainÂ a detailed view of secondary market transactions for Treasury securities.
FINRA is a Congress-authorized organization that develops and enforces rules governingÂ securities firms and brokers,Â examines firms for compliance with guidelines, educates investors andÂ promotesÂ market transparency.