OFR leads US push for mandatory adoption of LEIs

Berner says his bureau could use repo-reporting project to drive uptake of legal entity identifiers

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Leading the way: the OFR says it will push for more reliable reporting through the 'barcode for finance' 

The US Office of Financial Research (OFR) says it will push to mandate legal entity identifiers (LEIs) in its trade data-collection efforts, as US regulators lag in adopting the so-called ‘barcode for finance’ designed to ensure more reliable trade reporting by institutions.

OFR director Richard Berner told the Financial Data Summit in Washington, DC on March 16 that “US regulators have been slow to abandon their individual data identification systems or to map the LEI [method] to these systems

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