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The Department of the Treasury, Federal Reserve Board, OCC, CFPB, FDIC, FHFA, NCUA, SEC, and the CFTC following the Treasury’s May 3, 2024 designation of the CFTC as a covered agency pursuant to 12 U.S.C. 5334(a)(1)(I), are coordinating efforts on a proposed rule establishing data standards for the collection of information reported to each agency by financial entities under their jurisdiction, and the data collected from the agencies on behalf of the Financial Stability Oversight Council (FSOC). If finalized, the proposed rule would implement the requirements of section 124 to the Financial Stability Act of 2010 (12 U.S.C. 5321 et seq.), which was added by the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 (NDAA). The NDAA requires the agencies to jointly issue proposed rules within 18 months of the NDAA’s enactment, and final joint rules within two years of enactment.

Overall Description of Deadline: 12 U.S.C. 5334(b) requires the covered agencies to jointly issue proposed rules within 18 months of enactment and final rules within two years of enactment. Treasury designated CFTC as a "covered agency" on May 3, 2024 pursuant to 12 U.S.C. 5334(a)(1)(I).