FRB – Proposed information collection on Treasury Securities and Mortgage Backed Securities (MBS)

January 21, 2021 – FRB seeks comment on new proposed data collection to implement treasury securities and agency debt and mortgage-backed securities (MBS) reporting requirements. Applicable to depository institutions that meet reporting thresholds, daily transact in trading of marketable US Treasury securities, trading of debt, and MBS issued by agencies.

Reporting of Trades

Proposed FR 2956 would collect detailed data on bank daily transactions of marketable Treasury securities, as well as of debt and MBS issued by US agencies, including GSEs. Part 1 would collect data on transactions in Treasury debt, and Part 2 on agency MBS. Report all the transaction details, information, and fields as described in the applicable Trade Reporting and Compliance Engine (TRACE) documentation, FAQs, and guides. Include Committee on Uniform Securities Identification Procedures (CUSIP) number. Transaction size (volume), price, date and time of execution, and date of settlement.

Scope of Banks

Every national bank, State member bank, non-member bank, savings association, or US branch and agency of a foreign bank filing a Notice of Government Securities Broker or Government Dealer Activities Form – with average daily transaction volume over $100 million for Treasury debt, or over $50 million for agency-issued debt and MBS, in the prior fiscal year, would be subject to the reporting. Electronically report transactions via Fed data collection vendor, FINRA, using TRACE.

Effectiveness

Comments due before March 22, 2021, FRB proposing to implement reporting in 2021.

For more information, visit www.federalregister.gov.

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