On Jul. 1, Fed extends reporting requirements for treasury, debt, MBS.
Fed proposed to extend reporting requirements for treasury securities, agency debt, mortgage backed securities (MBS) for 3 years, revise part 1, part 2 of FR 2956 report.
Follows Fed Jan. 2021 proposed collection on treasury securities, see #96101.
Data Collection
FR 2956 collects detailed data on depository institutions' daily transactions trading of treasury securities (part 1), and Part 2 collects data on agency debt, and MBS.
Depository institutions subject to FR 2956 reporting requirements electronically report transactions through FINRA using Trade Reporting and Compliance Engine (TRACE).
Board proposes to revise Part 1 of the FR 2956 report by updating the timeframe by which a depository institution must report transactions in US Treasury securities.
Also will revise minimum time that must be used for reporting the execution times, for transactions executed electronically, and make technical/clarifying revisions to Part 2.
Prime brokers or depository institutions who file Form G-FIN and are FINRA members acting as an executing broker are exempt from the foregoing reporting obligations.
Comment Request
Comments on proposed data collection must be submitted on or before Aug. 30, 2024.
On Nov. 15, 2024, Fed adopted extension for 3 years, with revision, to the Treasury Securities and Agency Debt and Mortgage-Backed Securities Reporting Requirements.
The revisions to the reporting requirements are effective Dec. 16, 2024.
