,,ii #aagth ,,congress #b;d ,session ,s4 #dbie ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #bd1 #bjbb,mr4 ,warner 7for himself and ,mr4 ,crapo7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to amend securities and banking laws to make the information reported to financial regulatory agencies electronically searchable1 to further enable the development of regulatory technologies and artificial intelligence applications1 to put the ,united ,states on a path towards building a comprehensive ,standard ,business ,reporting program to ultimately harmonize and reduce the private sector's regulatory compliance burden1 while enhancing transparency and accountability1 and for other purposes4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,financial ,data ,transparency ,act of #bjbb4 7b7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4,,title ,i--,data standards for covered agencies2 ,department of the ,treasury rulemaking,sec4 #aja4 ,data standards4,sec4 #ajb4 ,open data publication by the ,department of the ,treasury4,sec4 #ajc4 ,no new disclosure requirements4,,title ,,ii--,securities and ,exchange ,commission,sec4 #bja4 ,data standards requirements for the ,securities and ,exchange ,commission4,sec4 #bjb4 ,open data publication by the ,securities and ,exchange ,commission4,sec4 #bjc4 ,data transparency at the ,municipal ,securities ,rulemaking ,board4,sec4 #bjd4 ,data transparency at national securities associations4,sec4 #bje4 ,shorter-term burden reduction and disclosure simplification at the ,securities and ,exchange ,commission2 sunset4,sec4 #bjf4 ,no new disclosure requirements4,,title ,,iii--,federal ,deposit ,insurance ,corporation,sec4 #cja4 ,data standards requirements for the ,federal ,deposit ,insurance ,corporation4,sec4 #cjb4 ,open data publication by the ,federal ,deposit ,insurance ,corporation4,sec4 #cjc4 ,rulemaking4,sec4 #cjd4 ,no new disclosure requirements4,,title ,,iv--,office of the ,comptroller of the ,currency,sec4 #dja4 ,data standards and open data publication requirements for the ,office of the ,comptroller of the ,currency4,sec4 #djb4 ,rulemaking4,sec4 #djc4 ,no new disclosure requirements4,,title ,v--,bureau of ,consumer ,financial ,protection,sec4 #eja4 ,data standards and open data publication requirements for the ,bureau of ,consumer ,financial ,protection4,sec4 #ejb4 ,rulemaking4,sec4 #ejc4 ,no new disclosure requirements4,,title ,,vi--,federal ,reserve ,system,sec4 #fja4 ,data standards requirements for the ,board of ,governors of the ,federal ,reserve ,system4,sec4 #fjb4 ,open data publication by the ,board of ,governors of the ,federal ,reserve ,system4,sec4 #fjc4 ,rulemaking4,sec4 #fjd4 ,no new disclosure requirements4,,title ,,vii--,national ,credit ,union ,administration,sec4 #gja4 ,data standards4,sec4 #gjb4 ,open data publication by the ,national ,credit ,union ,administration4,sec4 #gjc4 ,rulemaking4,sec4 #gjd4 ,no new disclosure requirements4,,title ,,viii--,federal ,housing ,finance ,agency,sec4 #hja4 ,data standards requirements for the ,federal ,housing ,finance ,agency4,sec4 #hjb4 ,open data publication by the ,federal ,housing ,finance ,agency4,sec4 #hjc4 ,rulemaking4,sec4 #hjd4 ,no new disclosure requirements4,,title ,,ix--,miscellaneous,sec4 #ija4 ,rules of construction4,sec4 #ijb4 ,classified and protected information4,sec4 #ijc4 ,discretionary surplus fund4,sec4 #ijd4 ,report4,sec4 #ije4 ,determination of budgetary effects4 ,i ,data standards for covered agencies2 ,department of the ,treasury rulemaking #aja4 ,data standards 7a7 ,in general ,subtitle ,a of the ,financial ,stability ,act of #bjaj 7#ab ,u4,s4,c4 #ecba et seq47 is amended by adding at the end the following3 #abd4 ,data standards 7a7 ,definitions ,in this section-- 7#a7 the term covered agencies means-- 7,a7 the ,department of the ,treasury2 7,b7 the ,board of ,governors2 7,c7 the ,office of the ,comptroller of the ,currency2 7,d7 the ,bureau2 7,e7 the ,commission2 7,f7 the ,corporation2 7,g7 the ,federal ,housing ,finance ,agency2 7,h7 the ,national ,credit ,union ,administration ,board2 and 7,i7 any other primary financial regulatory agency designated by the ,secretary2 7#b7 the term data standard means a standard that specifies rules by which data is described and recorded2 and 7#c7 the terms machine-readable1 metadata1 and open license have the meanings given the terms in section #cejb of title #dd1 ,united ,states ,code4 7b7 ,promulgation of standards ,not later than #b years after the date of enactment of this section1 the heads of the covered agencies shall jointly promulgate final rules that establish data standards for-- 7#a7 the collections of information reported to each covered agency by financial entities under the jurisdiction of the covered agency2 and 7#b7 the data collected from covered agencies on behalf of the ,council4 7c7 ,data standards 7#a7 ,common identifiers2 quality ,the data standards established in the final rules promulgated under subsection 7b7 shall-- 7,a7 include common identifiers for collections of information reported to covered agencies or collected on behalf of the ,council1 which shall include a common nonproprietary legal entity identifier that is available under an open license for all entities required to report to covered agencies2 and 7,b7 to the extent practicable-- 7i7 render data fully searchable and machine-readable2 7ii7 enable high quality data through schemas1 with accompanying metadata documented in machine-readable taxonomy or ontology models1 which clearly define the semantic meaning of the data1 as defined by the underlying regulatory information collection requirements2 7iii7 ensure that a data element or data asset that exists to satisfy an underlying regulatory information collection requirement be consistently identified as such in associated machine-readable metadata2 7iv7 be nonproprietary or made available under an open license2 7v7 incorporate standards developed and maintained by voluntary consensus standards bodies2 and 7vi7 use1 be consistent with1 and implement applicable accounting and reporting principles4 7#b7 ,consultation2 interoperability ,in establishing data standards in the final rules promulgated under subsection 7b71 the heads of the covered agencies shall-- 7,a7 consult with other ,federal departments and agencies and multi-agency initiatives responsible for ,federal data standards2 and 7,b7 seek to promote interoperability of financial regulatory data across members of the ,council4 7d7 ,effective date ,the data standards established in the final rules promulgated under subsection 7b7 shall take effect not later than #b years after the date on which those final rules are promulgated under that subsection4 4 7b7 ,clerical amendment ,the table of contents under section #a7;b7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act is amended by inserting after the item relating to section #abc the following3 ,sec4 #abd4 ,data standards4 4 #ajb4 ,open data publication by the ,department of the ,treasury 7a7 ,in general ,subtitle ,a of the ,financial ,stability ,act of #bjaj 7#ab ,u4,s4,c4 #ecba et seq471 as amended by section #aja7;a71 is further amended by adding at the end the following3 #abe4 ,open data publication ,all public data assets published by the ,secretary under this subtitle shall be-- 7#a7 made available as an open ,government data asset 7as defined in section #cejb of title #dd1 ,united ,states ,code72 7#b7 freely available for download in bulk2 7#c7 rendered in a human-readable format2 and 7#d7 accessible via application programming interface where appropriate4 4 7b7 ,clerical amendment ,the table of contents under section #a7;b7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act1 as amended by section #aja7;b71 is further amended by inserting after the item relating to section #abd the following3 ,sec4 #abe4 ,open data publication4 4 7c7 ,rulemaking ,the ,secretary of the ,treasury shall issue rules to carry out the amendments made by this section1 which shall take effect not later than #b years after the date on which final rules are promulgated under section #abd7;b7 of the ,financial ,stability ,act of #bjaj1 as added by section #aja7;a7 of this ,act4 #ajc4 ,no new disclosure requirements ,nothing in this title1 or the amendments made by this title1 shall be construed to require the ,secretary of the ,treasury to collect or make publicly available additional information under the ,financial ,stability ,act of #bjaj 7#ab ,u4,s4,c4 #ecaa et seq471 beyond information that was collected or made publicly available under that ,act1 as of the day before the date of enactment of this ,act4 ,,ii ,securities and ,exchange ,commission #bja4 ,data standards requirements for the ,securities and ,exchange ,commission 7a7 ,data standards for investment advisers' reports under the ,investment ,advisers ,act of #aidj ,section #bjd of the ,investment ,advisers ,act of #aidj 7#ae ,u4,s4,c4 #hj;b-#d7 is amended-- 7#a7 by redesignating the second subsection 7d7 7relating to ,records of ,persons ,with ,custody of ,use7 as subsection 7e72 and 7#b7 by adding at the end the following3 7f7 ,data standards for reports filed under this section 7#a7 ,requirement ,the ,commission shall1 by rule1 adopt data standards for all reports filed by investment advisers with the ,commission under this section4 7#b7 ,consistency ,the data standards required under paragraph 7#a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7b7 ,data standards for registration statements and reports under the ,investment ,company ,act of #aidj ,the ,investment ,company ,act of #aidj 7#ae ,u4,s4,c4 #hj;a-#a et seq47 is amended-- 7#a7 in section #h 7#ae ,u4,s4,c4 #hj;a-#h71 by adding at the end the following3 7g7 ,data standards for registration statements 7#a7 ,requirement ,the ,commission shall1 by rule1 adopt data standards for all registration statements required to be filed with the ,commission under this section1 except that the ,commission may exempt exhibits1 signatures1 and certifications from those data standards4 7#b7 ,consistency ,the data standards required under paragraph 7#a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 2 and 7#b7 in section #cj 7#ae ,u4,s4,c4 #hj;a-#bi71 by adding at the end the following3 7k7 ,data standards for reports 7#a7 ,requirement ,the ,commission shall1 by rule1 adopt data standards for all reports required to be filed with the ,commission under this section1 except that the ,commission may exempt exhibits1 signatures1 and certifications from those data standards4 7#b7 ,consistency ,the data standards required under paragraph 7#a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7c7 ,data standards for information required ,to be submitted or published by nationally recognized statistical rating organizations ,section #ae;,e of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gho-#g7 is amended by adding at the end the following3 7w7 ,data standards for information required ,to be submitted or published under this section 7#a7 ,requirement ,the ,commission shall1 by rule1 adopt data standards for all collections of information required to be submitted or published by a nationally recognized statistical rating organization under this section4 7#b7 ,consistency ,the data standards required under paragraph 7#a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7d7 ,data standards for asset-,backed securities disclosures ,section #g7;c7 of the ,securities ,act of #aicc 7#ae ,u4,s4,c4 #gg;g7c77 is amended by adding at the end the following3 7#c7 ,data standards for asset-backed securities disclosures 7,a7 ,requirement ,the ,commission shall1 by rule1 adopt data standards for all disclosures required under this subsection4 7,b7 ,consistency ,the data standards required under subparagraph 7,a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7e7 ,data standards for corporate disclosures under the ,securities ,act of #aicc ,title ,i of the ,securities ,act of #aicc 7#ae ,u4,s4,c4 #gg;a et seq47 is amended by adding at the end the following3 #bi4 ,data standards 7a7 ,requirement ,the ,commission shall1 by rule1 adopt data standards for all registration statements1 and for all prospectuses included in registration statements1 required to be filed with the ,commission under this title1 except that the ,commission may exempt exhibits1 signatures1 and certifications from those data standards4 7b7 ,consistency ,the data standards required under subsection 7a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7f7 ,data standards for periodic and current corporate disclosures under the ,securities ,exchange ,act of #aicd ,section #ac of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghm7 is amended by adding at the end the following3 7s7 ,data standards 7#a7 ,requirement ,the ,commission shall1 by rule1 adopt data standards for all collections of information with respect to periodic and current reports required to be filed or furnished under this section or under section #ae7;d71 except that the ,commission may exempt exhibits1 signatures1 and certifications from those data standards4 7#b7 ,consistency ,the data standards required under paragraph 7#a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7g7 ,data standards for corporate proxy and consent solicitation materials under the ,securities ,exchange ,act of #aicd ,section #ad of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghn7 is amended by adding at the end the following3 7k7 ,data standards for proxy and consent solicitation materials 7#a7 ,requirement ,the ,commission shall1 by rule1 adopt data standards for all information contained in any proxy or consent solicitation material prepared by an issuer for an annual meeting of the shareholders of the issuer1 except that the ,commission may exempt exhibits1 signatures1 and certifications from those data standards4 7#b7 ,consistency ,the data standards required under paragraph 7#a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7h7 ,data standards for security-,based swap reporting ,the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;a et seq47 is amended by adding at the end the following3 #da4 ,data standards for security-,based swap reporting 7a7 ,requirement ,the ,commission shall1 by rule1 adopt data standards for all reports related to security-based swaps that are required under this ,act4 7b7 ,consistency ,the data standards required under subsection 7a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7i7 ,rulemaking 7#a7 ,in general ,the rules that the ,securities and ,exchange ,commission are required to issue under the amendments made by this section shall take effect not later than #b years after the date on which final rules are promulgated under section #abd7;b7 of the ,financial ,stability ,act of #bjaj1 as added by section #aja7;a7 of this ,act4 7#b7 ,scaling of regulatory requirements2 minimizing disruption ,in issuing the rules required under the amendments made by this section1 as described in paragraph 7#a71 the ,securities and ,exchange ,commission-- 7,a7 may scale data reporting requirements in order to reduce any unjustified burden on emerging growth companies1 lending institutions1 accelerated filers1 smaller reporting companies1 and other smaller issuers1 as determined by any study required under section #bje7;b71 while still providing searchable information to investors2 and 7,b7 shall seek to minimize disruptive changes to the persons affected by those rules4 #bjb4 ,open data publication by the ,securities and ,exchange ,commission ,section #d of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;d7 is amended by adding at the end the following3 7k7 ,open data publication ,all public data assets published by the ,commission under the securities laws and the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7,public ,law #aaa-bjc2 #abd ,stat4 #acgf7 shall be-- 7#a7 made available as an open ,government data asset 7as defined in section #cejb of title #dd1 ,united ,states ,code72 7#b7 freely available for download in bulk2 7#c7 rendered in a human-readable format2 and 7#d7 accessible via application programming interface where appropriate4 4 #bjc4 ,data transparency at the ,municipal ,securities ,rulemaking ,board 7a7 ,in general ,section #ae;,b7b7 of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gho-#d7;b77 is amended by adding at the end the following3 7#h7 7,a7 ,if the ,board establishes information systems under paragraph 7#c71 the ,board shall adopt data standards for information submitted through those systems4 7,b7 ,any data standards adopted under subparagraph 7,a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7b7 ,rulemaking 7#a7 ,in general ,not later than #b years after the date on which final rules are promulgated under section #abd7;b7 of the ,financial ,stability ,act of #bjaj1 as added by section #aja7;a7 of this ,act1 the ,municipal ,securities ,rulemaking ,board shall issue rules to adopt the standards required under paragraph 7#h7 of section #ae;,b7b7 of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gho-#d7;b771 as added by subsection 7a71 if the ,board has established information systems under paragraph 7#c7 of such section #ae;,b7b74 7#b7 ,scaling of regulatory requirements2 minimizing disruption ,in issuing the rules described in paragraph 7#a71 the ,municipal ,securities ,rulemaking ,board-- 7,a7 may scale data reporting requirements in order to reduce any unjustified burden on smaller regulated entities2 and 7,b7 shall seek to minimize disruptive changes to the persons affected by those regulations4 #bjd4 ,data transparency at national securities associations 7a7 ,in general ,section #ae;,a of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gho-#c7 is amended by adding at the end the following3 7n7 ,data standards 7#a7 ,requirement ,a national securities association registered pursuant to subsection 7a7 shall adopt data standards for all information that is regularly filed with or submitted to the association4 7#b7 ,consistency ,the data standards required under paragraph 7#a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7b7 ,rulemaking 7#a7 ,in general ,not later than #b years after the date on which final rules are promulgated under section #abd7;b7 of the ,financial ,stability ,act of #bjaj1 as added by section #aja7;a7 of this ,act1 each national securities association registered pursuant to section #ae;,a7a7 of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gho-#c7;a77 shall issue rules to adopt the standards required under subsection 7n7 of section #ae;,a of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gho-#c71 as added by subsection 7a7 of this section4 7#b7 ,scaling of regulatory requirements2 minimizing disruption ,in issuing the rules required under paragraph 7#a71 a national securities association described in that paragraph-- 7,a7 may scale data reporting requirements in order to reduce any unjustified burden on smaller regulated entities2 and 7,b7 shall seek to minimize disruptive changes to the persons affected by those standards4 #bje4 ,shorter-term burden reduction and disclosure simplification at the ,securities and ,exchange ,commission2 sunset 7a7 ,better enforcement of the quality of corporate financial data submitted to the ,securities and ,exchange ,commission 7#a7 ,data quality improvement program 7,a7 ,in general ,not later than #ahj days after the date of enactment of this ,act1 the ,securities and ,exchange ,commission shall establish a program to improve the quality of corporate financial data filed or furnished by issuers under the ,securities ,act of #aicc 7#ae ,u4,s4,c4 #gg;a et seq471 the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;a et seq471 and the ,investment ,company ,act of #aidj 7#ae ,u4,s4,c4 #hj;a-#a et seq474 7,b7 ,contents ,the program established under subparagraph 7,a7 shall include the following3 7i7 ,the designation of an official in the ,office of the ,chairman of the ,securities and ,exchange ,commission responsible for the improvement of the quality of data filed with or furnished to the ,commission by issuers4 7ii7 ,the issuance by the ,division of ,corporation ,finance of the ,securities and ,exchange ,commission of comment letters requiring correction of errors in data filings and submissions1 where necessary4 7#b7 ,goals ,in establishing the program required under this subsection1 the ,securities and ,exchange ,commission shall seek to-- 7,a7 improve the quality of data filed with or furnished to the ,commission to a commercially acceptable level2 and 7,b7 make data filed with or furnished to the ,commission useful to investors4 7b7 ,report on the use of machine-,readable data for corporate disclosures 7#a7 ,in general ,not later than #ahj days after the date of enactment of this ,act1 and once every #ahj days thereafter1 the ,securities and ,exchange ,commission shall submit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives a report regarding the public and internal use of machine-readable data for corporate disclosures4 7#b7 ,content ,each report required under paragraph 7#a7 shall include-- 7,a7 an identification of which corporate disclosures required under section #g of the ,securities ,act of #aicc 7#ae ,u4,s4,c4 #gg;g71 section #ac of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghm71 and section #ad of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghn7 are expressed as machine-readable data and which are not2 7,b7 an analysis of the costs and benefits of the use of machine-readable data in corporate disclosure to investors1 markets1 the ,securities and ,exchange ,commission1 and issuers2 7,c7 a summary of enforcement actions that result from the use or analysis of machine-readable data collected under the provisions of law described in subparagraph 7,a72 and 7,d7 an analysis of how the ,securities and ,exchange ,commission uses the machine-readable data collected by the ,commission4 7c7 ,sunset ,beginning on the date that is #g years after the date of enactment of this ,act1 this section shall have no force or effect4 #bjf4 ,no new disclosure requirements ,nothing in this title1 or the amendments made by this title1 shall be construed to require the ,securities and ,exchange ,commission1 the ,municipal ,securities ,rulemaking ,board1 or any national securities association to collect or make publicly available additional information under the provisions of law amended by this title 7or under any provision of law referenced in an amendment made by this title71 beyond information that was collected or made publicly available under any such provision1 as of the day before the date of enactment of this ,act4 ,,iii ,federal ,deposit ,insurance ,corporation #cja4 ,data standards requirements for the ,federal ,deposit ,insurance ,corporation ,the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahaa et seq47 is amended by adding at the end the following3 #eb4 ,data standards 7a7 ,definition ,in this section1 the term financial company has the meaning given the term in section #bja7;a7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #echa7;a774 7b7 ,requirement ,the ,corporation shall1 by rule1 adopt data standards for all collections of information with respect to information received by the ,corporation from any depository institution or financial company under this ,act or under title ,,ii of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #echa et seq474 7c7 ,consistency ,the data standards required under subsection 7b7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 #cjb4 ,open data publication by the ,federal ,deposit ,insurance ,corporation ,the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahaa et seq471 as amended by section #cja1 is further amended by adding at the end the following3 #ec4 ,open data publication ,all public data assets published by the ,corporation under this ,act or under the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7,public ,law #aaa-bjc2 #abd ,stat4 #acgf7 shall be-- 7#a7 made available as an open ,government data asset 7as defined in section #cejb of title #dd1 ,united ,states ,code72 7#b7 freely available for download in bulk2 7#c7 rendered in a human-readable format2 and 7#d7 accessible via application programming interface where appropriate4 4 #cjc4 ,rulemaking 7a7 ,in general ,the ,federal ,deposit ,insurance ,corporation shall issue rules to carry out the amendments made by this title1 which shall take effect not later than #b years after the date on which final rules are promulgated under section #abd7;b7 of the ,financial ,stability ,act of #bjaj1 as added by section #aja7;a7 of this ,act4 7b7 ,scaling of regulatory requirements2 minimizing disruption ,in issuing the rules required under subsection 7a71 the ,federal ,deposit ,insurance ,corporation-- 7#a7 may scale data reporting requirements in order to reduce any unjustified burden on smaller regulated entities2 and 7#b7 shall seek to minimize disruptive changes to the persons affected by those regulations4 #cjd4 ,no new disclosure requirements ,nothing in this title1 or the amendments made by this title1 shall be construed to require the ,federal ,deposit ,insurance ,corporation to collect or make publicly available additional information under the ,acts amended by this title 7or under any provision of law referenced in an amendment made by this title71 beyond information that was collected or made publicly available under any such provision1 as of the day before the date of enactment of this ,act4 ,,iv ,office of the ,comptroller of the ,currency #dja4 ,data standards and open data publication requirements for the ,office of the ,comptroller of the ,currency ,the ,revised ,statutes of the ,united ,states is amended by inserting after section #ccb 7#ab ,u4,s4,c4 #ad7 the following3 #ccc4 ,data standards2 ,open data publication 7a7 ,data standards 7#a7 ,requirement ,the ,comptroller of the ,currency shall1 by rule1 adopt data standards for all collections of information that are regularly filed with or submitted to the ,comptroller of the ,currency by any entity with respect to which the ,office of the ,comptroller of the ,currency is the appropriate ,federal banking agency 7as defined in section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac774 7#b7 ,consistency ,the data standards required under paragraph 7#a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 7b7 ,open data publication ,all public data assets published by the ,comptroller of the ,currency under title ,,lxii or the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7,public ,law #aaa-bjc2 #abd ,stat4 #acgf7 shall be-- 7#a7 made available as an open ,government data asset 7as defined in section #cejb of title #dd1 ,united ,states ,code72 7#b7 freely available for download in bulk2 7#c7 rendered in a human-readable format2 and 7#d7 accessible via application programming interface where appropriate4 4 #djb4 ,rulemaking 7a7 ,in general ,the ,comptroller of the ,currency shall issue rules to carry out the amendments made by section #dja1 which shall take effect not later than #b years after the date on which final rules are promulgated under section #abd7;b7 of the ,financial ,stability ,act of #bjaj1 as added by section #aja7;a7 of this ,act4 7b7 ,scaling of regulatory requirements2 minimizing disruption ,in issuing the rules required under subsection 7a71 the ,comptroller of the ,currency-- 7#a7 may scale data reporting requirements in order to reduce any unjustified burden on smaller regulated entities2 and 7#b7 shall seek to minimize disruptive changes to the persons affected by those regulations4 #djc4 ,no new disclosure requirements ,nothing in this title1 or the amendments made by this title1 shall be construed to require the ,comptroller of the ,currency to collect or make publicly available additional information under the ,revised ,statutes of the ,united ,states 7or under any other provision of law referenced in an amendment made by this title71 beyond information that was collected or made publicly available under any such provision of law1 as of the day before the date of enactment of this ,act4 ,v ,bureau of ,consumer ,financial ,protection #eja4 ,data standards and open data publication requirements for the ,bureau of ,consumer ,financial ,protection 7a7 ,in general ,subtitle ,a of the ,consumer ,financial ,protection ,act of #bjaj 7#ab ,u4,s4,c4 #edia et seq47 is amended by-- 7#a7 redesignating section #ajah 7#ab ,u4,s4,c4 #edia note7 as section #ajbj2 and 7#b7 by inserting after section #ajag 7#ab ,u4,s4,c4 #edig7 the following3 #ajah4 ,data standards 7a7 ,requirement ,the ,bureau shall1 by rule1 adopt data standards for all collections of information that are regularly filed with or submitted to the ,bureau4 7b7 ,consistency ,the data standards required under subsection 7a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 #ajai4 ,open data publication ,all public data assets published by the ,bureau shall be-- 7#a7 made available as an open ,government data asset 7as defined in section #cejb of title #dd1 ,united ,states ,code72 7#b7 freely available for download in bulk2 7#c7 rendered in a human-readable format2 and 7#d7 accessible via application programming interface where appropriate4 4 7b7 ,clerical amendment ,the table of contents under section #a7;b7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act is amended by striking the item relating to section #ajah and inserting the following3 ,sec4 #ajah4 ,data standards4,sec4 #ajai4 ,open data publication4,sec4 #ajbj4 ,effective date4 4 #ejb4 ,rulemaking 7a7 ,in general ,the ,director of the ,bureau of ,consumer ,financial ,protection shall issue rules to carry out the amendments made by section #eja1 which shall take effect not later than #b years after the date on which final rules are promulgated under section #abd7;b7 of the ,financial ,stability ,act of #bjaj1 as added by section #aja7;a7 of this ,act4 7b7 ,scaling of regulatory requirements2 minimizing disruption ,in issuing the rules required under subsection 7a71 the ,director of the ,bureau of ,consumer ,financial ,protection-- 7#a7 may scale data reporting requirements in order to reduce any unjustified burden on smaller regulated entities2 and 7#b7 shall seek to minimize disruptive changes to the persons affected by those regulations4 #ejc4 ,no new disclosure requirements ,nothing in this title1 or the amendments made by this title1 shall be construed to require the ,bureau of ,consumer ,financial ,protection to collect or make publicly available additional information under the ,consumer ,financial ,protection ,act of #bjaj 7#ab ,u4,s4,c4 #edha et seq471 beyond information that was collected or made publicly available under that ,act1 as of the day before the date of enactment of this ,act4 ,,vi ,federal ,reserve ,system #fja4 ,data standards requirements for the ,board of ,governors of the ,federal ,reserve ,system 7a7 ,data standards for information filed or submitted by nonbank financial companies ,section #afa7;a7 of the ,financial ,stability ,act of #bjaj 7#ab ,u4,s4,c4 #ecfa7;a77 is amended by adding at the end the following3 7#d7 ,data standards for reports under this subsection 7,a7 ,in general ,the ,board of ,governors shall adopt data standards for all information that1 through a collection of information1 is regularly filed with or submitted to the ,board of ,governors under this subsection by any nonbank financial company supervised by the ,board of ,governors or any subsidiary thereof4 7,b7 ,consistency ,the data standards required under subparagraph 7,a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of section #abd4 4 7b7 ,data standards for information filed or submitted by savings and loan holding companies ,section #aj of the ,home ,owners' ,loan ,act 7#ab ,u4,s4,c4 #adfg;a7 is amended by adding at the end the following3 7u7 ,data standards 7#a7 ,requirement ,the ,board shall adopt data standards for all information that1 through a collection of information1 is regularly filed with or submitted to the ,board by any savings and loan holding company1 or subsidiary of a savings and loan holding company1 other than a depository institution1 under this section4 7#b7 ,consistency ,the data standards required under paragraph 7#a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7c7 ,data standards for information filed or submitted by bank holding companies ,section #e of the ,bank ,holding ,company ,act of #aief 7#ab ,u4,s4,c4 #ahdd7 is amended by adding at the end the following3 7h7 ,data standards 7#a7 ,requirement ,the ,board shall adopt data standards for all information that1 through a collection of information1 is regularly filed with or submitted to the ,board by any bank holding company in a report under subsection 7c74 7#b7 ,consistency ,the data standards required under paragraph 7#a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 7d7 ,data standards for information submitted by financial market utilities or institutions under the ,payment1 ,clearing1 and ,settlement ,supervision ,act of #bjaj ,section #hji of the ,payment1 ,clearing1 and ,settlement ,supervision ,act of #bjaj 7#ab ,u4,s4,c4 #edfh7 is amended by adding at the end the following3 7h7 ,data standards 7#a7 ,requirement ,the ,board of ,governors shall adopt data standards for all information that1 through a collection of information1 is regularly filed with or submitted to the ,board or the ,council by any financial market utility or financial institution under subsection 7a7 or 7b74 7#b7 ,consistency ,the data standards required under paragraph 7#a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 #fjb4 ,open data publication by the ,board of ,governors of the ,federal ,reserve ,system ,the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #bbf et seq47 is amended by adding at the end the following3 #cb4 ,open data publication by the ,board of ,governors ,all public data assets published by the ,board of ,governors under this ,act1 the ,bank ,holding ,company ,act of #aief 7#ab ,u4,s4,c4 #ahda et seq471 the ,financial ,stability ,act of #bjaj 7#ab ,u4,s4,c4 #ecaa et seq471 the ,home ,owners' ,loan ,act 7#ab ,u4,s4,c4 #adfa et seq471 the ,payment1 ,clearing1 and ,settlement ,supervision ,act of #bjaj 7#ab ,u4,s4,c4 #edfa et seq471 or the ,enhancing ,financial ,institution ,safety and ,soundness ,act of #bjaj 7title ,,iii of ,public ,law #aaa-bjc7 7or any provision of law amended by that ,act7 shall be-- 7#a7 made available as an open ,government data asset 7as defined in section #cejb of title #dd1 ,united ,states ,code72 7#b7 freely available for download in bulk2 7#c7 rendered in a human-readable format2 and 7#d7 accessible via application programming interface where appropriate4 4 #fjc4 ,rulemaking 7a7 ,in general ,the ,board of ,governors of the ,federal ,reserve ,system shall issue rules to carry out the amendments made by this title1 which shall take effect not later than #b years after the date on which final rules are promulgated under section #abd7;b7 of the ,financial ,stability ,act of #bjaj1 as added by section #aja7;a7 of this ,act4 7b7 ,scaling of regulatory requirements2 minimizing disruption ,in issuing the rules required under subsection 7a71 the ,board of ,governors of the ,federal ,reserve ,system-- 7#a7 may scale data reporting requirements in order to reduce any unjustified burden on smaller regulated entities2 and 7#b7 shall seek to minimize disruptive changes to the persons affected by those regulations4 #fjd4 ,no new disclosure requirements ,nothing in this title1 or the amendments made by this title1 shall be construed to require the ,board of ,governors of the ,federal ,reserve ,system to collect or make publicly available additional information under any ,act amended by this title1 any ,act referenced in an amendment made by this title1 or any ,act amended by an ,act referenced in an amendment made by this title1 beyond information that was collected or made publicly available under any such provision of law1 as of the day before the date of enactment of this ,act4 ,,vii ,national ,credit ,union ,administration #gja4 ,data standards ,title ,i of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #ageb et seq47 is amended by adding at the end the following3 #acb4 ,data standards 7a7 ,requirement ,the ,board shall1 by rule1 adopt data standards for all collections of information and reports regularly filed with or submitted to the ,administration under this ,act4 7b7 ,consistency ,the data standards required under subsection 7a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 #gjb4 ,open data publication by the ,national ,credit ,union ,administration ,title ,i of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #ageb et seq471 as amended by section #hja1 is further amended by adding at the end the following3 #acc4 ,open data publication ,all public data assets published by the ,administration under this title shall be-- 7#a7 made available as an open ,government data asset 7as defined in section #cejb of title #dd1 ,united ,states ,code72 7#b7 freely available for download in bulk2 7#c7 rendered in a human-readable format2 and 7#d7 accessible via application programming interface where appropriate4 4 #gjc4 ,rulemaking 7a7 ,in general ,the ,national ,credit ,union ,administration ,board shall issue rules to carry out the amendments made by this title1 which shall take effect not later than #b years after the date on which final rules are promulgated under section #abd7;b7 of the ,financial ,stability ,act of #bjaj1 as added by section #aja7;a7 of this ,act4 7b7 ,scaling of regulatory requirements2 minimizing disruption ,in issuing the rules required under subsection 7a71 the ,national ,credit ,union ,administration ,board-- 7#a7 may scale data reporting requirements in order to reduce any unjustified burden on smaller regulated entities2 and 7#b7 shall seek to minimize disruptive changes to the persons affected by those regulations4 #gjd4 ,no new disclosure requirements ,nothing in this title1 or the amendments made by this title1 shall be construed to require the ,national ,credit ,union ,administration ,board to collect or make publicly available additional information under the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #agea et seq471 beyond information that was collected or made publicly available under that ,act1 as of the day before the date of enactment of this ,act4 ,,viii ,federal ,housing ,finance ,agency #hja4 ,data standards requirements for the ,federal ,housing ,finance ,agency ,part #a of subtitle ,a of the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #deaa et seq47 is amended by adding at the end the following3 #acai;,h4 ,data standards 7a7 ,requirement ,the ,agency shall1 by rule1 adopt data standards for all collections of information that are regularly filed with or submitted to the ,agency4 7b7 ,consistency ,the data standards required under subsection 7a7 shall incorporate1 and ensure compatibility with 7to the extent feasible71 all applicable data standards established in the rules promulgated under section #abd of the ,financial ,stability ,act of #bjaj1 including1 to the extent practicable1 by having the characteristics described in clauses 7i7 through 7vi7 of subsection 7c77#a77;,b7 of such section #abd4 4 #hjb4 ,open data publication by the ,federal ,housing ,finance ,agency ,part #a of subtitle ,a of the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #deaa et seq471 as amended by section #hja1 is further amended by adding at the end the following3 #acai;,i4 ,open data publication ,all public data assets published by the ,agency shall be-- 7#a7 made available as an open ,government data asset 7as defined in section #cejb of title #dd1 ,united ,states ,code72 7#b7 freely available for download in bulk2 7#c7 rendered in a human-readable format2 and 7#d7 accessible via application programming interface where appropriate4 4 #hjc4 ,rulemaking 7a7 ,in general ,the ,director of the ,federal ,housing ,finance ,agency shall issue rules to carry out the amendments made by this title1 which shall take effect not later than #b years after the date on which final rules are promulgated under section #abd7;b7 of the ,financial ,stability ,act of #bjaj1 as added by section #aja7;a7 of this ,act4 7b7 ,minimizing disruption ,in issuing the regulations required under subsection 7a71 the ,director of the ,federal ,housing ,finance ,agency shall seek to minimize disruptive changes to the persons affected by those rules4 #hjd4 ,no new disclosure requirements ,nothing in this title1 or the amendments made by this title1 shall be construed to require the ,federal ,housing ,finance ,agency to collect or make publicly available additional information under the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #deja et seq471 beyond information that was collected or made publicly available under that ,act1 as of the day before the date of enactment of this ,act4 ,,ix ,miscellaneous #ija4 ,rules of construction 7a7 ,no effect on intellectual property ,nothing in this ,act1 or the amendments made by this ,act1 may be construed to alter the existing legal protections of copyrighted material or other intellectual property rights of any non-,federal person4 7b7 ,no effect on monetary policy ,nothing in this ,act1 or the amendments made by this ,act1 may be construed to apply to activities conducted1 or data standards used1 in connection with monetary policy proposed or implemented by the ,board of ,governors of the ,federal ,reserve ,system or the ,federal ,open ,market ,committee4 7c7 ,preservation of agency authority ,to tailor requirements ,nothing in this ,act1 or the amendments made by this ,act1 may be construed to prohibit the head of a covered agency1 as defined in section #abd7;a7 of the ,financial ,stability ,act of #bjaj1 as added by section #aja7;a7 of this ,act1 from tailoring those standards when those standards are adopted under this ,act and the amendments made by this ,act4 #ijb4 ,classified and protected information 7a7 ,in general ,nothing in this ,act1 or the amendments made by this ,act1 shall require the disclosure to the public of-- 7#a7 information that would be exempt from disclosure under section #eeb of title #e1 ,united ,states ,code 7commonly known as the ,freedom of ,information ,act72 or 7#b7 information protected under-- 7,a7 section #eeb;a of title #e1 ,united ,states ,code 7commonly known as the ,privacy ,act of #aigd72 or 7,b7 section #fajc of the ,internal ,revenue ,code of #aihf4 7b7 ,existing agency regulations ,nothing in this ,act1 or the amendments made by this ,act1 shall be construed to require the ,secretary of the ,treasury1 the ,securities and ,exchange ,commission1 the ,federal ,deposit ,insurance ,corporation1 the ,comptroller of the ,currency1 the ,director of the ,bureau of ,consumer ,financial ,protection1 the ,board of ,governors of the ,federal ,reserve ,system1 the ,national ,credit ,union ,administration ,board1 the ,director of the ,federal ,housing ,finance ,agency1 or the head of any other primary financial regulatory agency 7as defined in section #b of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecja77 designated by the ,secretary of the ,treasury to amend existing regulations and procedures regarding the sharing and disclosure of nonpublic information1 including confidential supervisory information4 #ijc4 ,discretionary surplus fund 7a7 ,in general ,section #g7;a77#c77;,a7 of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #bhi7;a77#c77;,a77 is amended by striking #f1hbe1jjj1jjj and inserting #f1gbe1jjj1jjj4 7b7 ,effective date ,the amendment made by subsection 7a7 shall take effect on ,september #cj1 #bjca4 #ijd4 ,report ,not later than #c years after the date of enactment of this ,act1 the ,comptroller ,general of the ,united ,states shall submit to ,congress a report on the feasibility1 costs1 and potential benefits of building upon the taxonomy established by this ,act1 and the amendments made by this ,act1 to arrive at a ,federal governmentwide regulatory compliance standardization mechanism similar to ,standard ,business ,reporting4 #ije4 ,determination of budgetary effects ,the budgetary effects of this ,act1 for the purpose of complying with the ,statutory ,pay-,as-,you-,go ,act of #bjaj1 shall be determined by reference to the latest statement titled ,budgetary ,effects of ,,paygo ,legislation for this ,act1 submitted for printing in the ,congressional ,record by the ,chairman of the ,house ,budget ,committee1 provided that such statement has been submitted prior to the vote on passage4