Federal Reserve Board Proposes New Regulatory Reporting Requirement

Federal Reserve Bank Supervision

On March 16, the Federal Reserve Board issued a proposal seeking public comment that would require all banking organizations with existing Legal Entity Identifiers (LEIs) to report their respective LEIs on regulatory reporting forms beginning June 30, 2015.  Because an LEI is unique to a single legal entity, requiring disclosure of the LEI would enable regulators to facilitate information sharing and coordination on domestic financial policy, rulemaking, examination, reporting requirements, and enforcement actions