The Federal Deposit Insurance Corporation, with eight other federal financial agencies, has issued a joint final rule required by the Financial Data Transparency Act of 2022 that sets common data standards for regulatory information collections to improve interoperability across agencies. For the FDIC, the rule adds Subpart D to 12 C.F.R. Part 304. The joint rule does not by itself change any reporting requirements, and the standards will be considered for later incorporation into specific collections through separate agency actions. The standards designate ISO 17442 Legal Entity Identifier as the legal entity identifier, ISO 4914 Unique Product Identifier for swaps and security-based swaps, ISO 10962 Classification of Financial Instruments for classifying other financial instruments, ISO 8601 for dates, U.S. Postal Service abbreviations for states and geographic directionals, GENC codes for countries and subdivisions, and ISO 4217 alphabetic currency codes. The rule also adopts a properties-based standard for data transmission and schema and taxonomy formats that, to the extent practicable, must make data searchable and machine-readable, support machine-readable metadata, consistently link data elements to underlying regulatory requirements, and be nonproprietary or open-licensed. Compared with the proposal, the agencies did not adopt FIGI as a joint standard, use CFI for classification rather than identification, and did not require the ISO 8601 Basic date format. The joint rule takes effect on October 1, 2026. Any application of these standards to particular reporting forms will depend on later agency-specific rulemakings or other actions, and the implementing agencies may tailor the standards or adopt different standards where the FDTA allows.
Federal Deposit Insurance Corporation2026-06-10
Federal Deposit Insurance Corporation issues joint final rule setting FDTA data standards with no immediate reporting changes
The Federal Deposit Insurance Corporation and eight other federal financial agencies have adopted a joint final rule under the Financial Data Transparency Act of 2022 establishing common data standards for regulatory information collections, adding Subpart D to 12 C.F.R. Part 304 for the FDIC. The rule designates ISO and other coding standards for legal entities, financial instruments, dates, locations, and currencies, and sets requirements for data transmission and schema to support searchable, machine-readable, nonproprietary formats. It does not change existing reporting requirements; application to particular reporting forms will occur through future agency-specific actions, with scope for tailoring where permitted.