Statement on Federal Reserve Board’s Proposed Collection of U.S. Treasury Transaction Data

Statement on Federal Reserve Board's Proposed Collection of U.S. Treasury Transaction Data

Commissioner Elad L. Roisman

Jan. 22, 2021

I commend the Federal Reserve Board on their proposal to collect data on daily transactions in U.S. Treasury securities from certain banking institutions through FINRA's TRACE system.[1] Since July 2017, SEC-registered broker-dealers that are FINRA members have reported their Treasury transactions to TRACE. The TRACE data is a key tool in facilitating assessments of market dynamics, effective market oversight, and improved market transparency. As I have previously stated, given the importance of the Treasury market, it is vital that TRACE include a complete set of Treasury transaction information.[2] I look forward to continued collaborative efforts among regulators to pursue initiatives to enhance the Treasury market's transparency, integrity, and resiliency.

[1]See Proposed Agency Information Collection Activities; Comment Request, 86 FR 6329 (Jan. 21, 2021) available athttps://www.federalreserve.gov/boarddocs/press/foiadocs/2021/20210121/foia20210121.pdf. The Federal Reserve Board also proposed to collect data on daily transactions by certain banking institutions in the debt and mortgage-backed securities issued by U.S. federal government agencies.

[2]See Elad L. Roisman, Remarks at U.S. Treasury Market Conference (Sept. 29, 2020) available athttps://www.sec.gov/news/speech/roisman-us-treasury-conference-2020-09-29.