---
kind: "section"
citation: "12 U.S.C. § 5344"
title: "12"
title_heading: "Banks and Banking"
number: "5344"
heading: "Organizational structure; responsibilities of primary programmatic units"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5344"
units:
  - "Chapter 53 — Wall Street Reform and Consumer Protection"
  - "Subchapter I — Financial Stability"
  - "Part B — Office of Financial Research"
---

# §5344. Organizational structure; responsibilities of primary programmatic units

- (a) **In general—** There are established within the [Office](/usc/12/5341.md?p=1), to carry out the programmatic responsibilities of the [Office](/usc/12/5341.md?p=1)—
  - (1) the [Data Center](/usc/12/5341.md?p=3); and
  - (2) the [Research and Analysis Center](/usc/12/5341.md?p=4).
- (b) **Data Center—**
  - (1) **General duties—**
    - (A) **Data collection—** The [Data Center](/usc/12/5341.md?p=3), on behalf of the [Council](/usc/12/5301.md?p=8), shall collect, validate, and maintain all data necessary to carry out the duties of the [Data Center](/usc/12/5341.md?p=3), as described in this part. The data assembled shall be obtained from [member agencies](/usc/12/5311.md?p=a-3), commercial data providers, publicly available data sources, and financial entities under [subparagraph (B)](#b-1-B).
    - (B) **Authority—**
      - (i) **In general—** The [Office](/usc/12/5341.md?p=1) may, as determined by the [Council](/usc/12/5301.md?p=8) or by the [Director](/usc/12/5341.md?p=1) in consultation with the [Council](/usc/12/5301.md?p=8), require the submission of periodic and other reports from any [financial company](/usc/12/5341.md?p=2) for the purpose of assessing the extent to which a financial activity or financial market in which the [financial company](/usc/12/5341.md?p=2) participates, or the [financial company](/usc/12/5341.md?p=2) itself, poses a threat to the financial stability of the United States.
      - (ii) **Mitigation of report burden—** Before requiring the submission of a report from any [financial company](/usc/12/5341.md?p=2) that is regulated by a [member agency](/usc/12/5311.md?p=a-3), any [primary financial regulatory agency](/usc/12/5301.md?p=12), a foreign supervisory authority, or the [Office](/usc/12/5341.md?p=1) shall coordinate with such agencies or authority, and shall, whenever possible, rely on information available from such agencies or authority.
      - (iii) **Collection of financial transaction and position data—** The [Office](/usc/12/5341.md?p=1) shall collect, on a schedule determined by the [Director](/usc/12/5341.md?p=1), in consultation with the [Council](/usc/12/5301.md?p=8), [financial transaction data](/usc/12/5341.md?p=5) and [position data](/usc/12/5341.md?p=6) from [financial companies](/usc/12/5341.md?p=2).
    - (C) **Rulemaking—** The [Office](/usc/12/5341.md?p=1) shall promulgate regulations pursuant to subsections (a)(1), (a)(2), (a)(7), and (c)(1) of [section 5343 of this title](/usc/12/5343.md) regarding the type and scope of the data to be collected by the [Data Center](/usc/12/5341.md?p=3) under this paragraph.
  - (2) **Responsibilities—**
    - (A) **Publication—** The [Data Center](/usc/12/5341.md?p=3) shall prepare and publish, in a manner that is easily accessible to the public—
      - (i) a [financial company](/usc/12/5341.md?p=2) reference database;
      - (ii) a [financial instrument](/usc/12/5341.md?p=8) reference database; and
      - (iii) formats and standards for [Office](/usc/12/5341.md?p=1) data, [including](/usc/12/5301.md?p=18-A) standards for reporting financial transaction and [position data](/usc/12/5341.md?p=6) to the [Office](/usc/12/5341.md?p=1).
    - (B) **Confidentiality—** The [Data Center](/usc/12/5341.md?p=3) shall not publish any confidential data under [subparagraph (A)](#b-2-A).
  - (3) **Information security—** The [Director](/usc/12/5341.md?p=1) shall ensure that data collected and maintained by the [Data Center](/usc/12/5341.md?p=3) are kept secure and protected against unauthorized disclosure.
  - (4) **Catalog of financial entities and instruments—** The [Data Center](/usc/12/5341.md?p=3) shall maintain a catalog of the financial entities and instruments reported to the [Office](/usc/12/5341.md?p=1).
  - (5) **Availability to the Council and member agencies—** The [Data Center](/usc/12/5341.md?p=3) shall make data collected and maintained by the [Data Center](/usc/12/5341.md?p=3) available to the [Council](/usc/12/5301.md?p=8) and [member agencies](/usc/12/5311.md?p=a-3), as necessary to support their regulatory responsibilities.
  - (6) **Other authority—** The [Office](/usc/12/5341.md?p=1) shall, after consultation with the [member agencies](/usc/12/5311.md?p=a-3), provide certain data to financial industry participants and to the general public to increase market transparency and facilitate research on the financial system, to the extent that intellectual property rights are not violated, business confidential information is properly protected, and the sharing of such information poses no significant threats to the financial system of the United States.
- (c) **Research and Analysis Center—**
  - (1) **1 General duties—** The [Research and Analysis Center](/usc/12/5341.md?p=4), on behalf of the [Council](/usc/12/5301.md?p=8), shall develop and maintain independent analytical capabilities and computing resources—
    - (A) to develop and maintain metrics and reporting systems for risks to the financial stability of the United States;
    - (B) to monitor, investigate, and report on changes in systemwide risk levels and patterns to the [Council](/usc/12/5301.md?p=8) and Congress;
    - (C) to conduct, coordinate, and sponsor research to support and improve regulation of financial entities and markets;
    - (D) to evaluate and report on stress tests or other stability-related evaluations of financial entities overseen by the [member agencies](/usc/12/5311.md?p=a-3);
    - (E) to maintain expertise in such areas as may be necessary to support specific requests for advice and assistance from financial regulators;
    - (F) to investigate disruptions and failures in the financial markets, report findings, and make recommendations to the [Council](/usc/12/5301.md?p=8) based on those findings;
    - (G) to conduct studies and provide advice on the impact of policies related to systemic risk; and
    - (H) to promote best practices for financial risk management.
- (d) **Reporting responsibilities—**
  - (1) **Required reports—** Not later than 2 years after July 21, 2010, and not later than 120 days after the end of each fiscal year thereafter, the [Office](/usc/12/5341.md?p=1) shall prepare and submit a report to Congress.
  - (2) **Content—** Each report required by this subsection shall assess the [state](/usc/12/5301.md?p=16) of the United States financial system, [including](/usc/12/5301.md?p=18-A)—
    - (A) an analysis of any threats to the financial stability of the United States;
    - (B) the status of the efforts of the [Office](/usc/12/5341.md?p=1) in meeting the mission of the [Office](/usc/12/5341.md?p=1); and
    - (C) key findings from the research and analysis of the financial system by the [Office](/usc/12/5341.md?p=1).

## Footnotes

[^1]: So in original. No par. (2) has been enacted.

## Source credit

(Pub. L. 111–203, title I, § 154, July 21, 2010, 124 Stat. 1416.)