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Committee Detail

Note: An Annual Comprehensive Review, as required by §7 of the Federal Advisory Committee Act, is conducted each year on committee data entered for the previous fiscal year (referred to as the reporting year). The data for the reporting year is not considered verified until this review is complete and the data is moved to history for an agency/department. See the Data From Previous Years section at the bottom of this page for the committee’s historical, verified data.


TRES - 79211 - Financial Research Advisory Committee - Agency Authority
Hide Section - GENERAL INFORMATION

GENERAL INFORMATION

Committee NameFinancial Research Advisory CommitteeAgency NameDepartment of the Treasury
Fiscal Year2020Committee Number79211
Original Establishment Date Committee StatusChartered
Actual Termination Date Committee URLhttp://financialresearch.gov/frac/
New Committee This FYNoPresidential Appointments*No
Terminated This FYNoMax Number of Members*40
Current Charter Date1/30/2020Designated Fed Officer Position Title*Senior Industry Liaison
Date Of Renewal Charter1/30/2022Designated Federal Officer Prefix
Projected Termination Date Designated Federal Officer First Name*Melissa
Exempt From Renewal*NoDesignated Federal Officer Middle Name
Specific Termination AuthorityDesignated Federal Officer Last Name*Avstreih
Establishment Authority*Agency AuthorityDesignated Federal Officer Suffix
Specific Establishment Authority*Assistant Secretary for Management Dan Tangherlini Approval Memo dated 9/22/2011Designated Federal Officer Phone*(202) 927-8032
Effective Date Of Authority*9/30/2011Designated Federal Officer Fax*n/a
Exempt From EO 13875 Discretionary CmteNot ApplicableDesignated Federal Officer Email*melissa.avstreih@ofr.treasury.gov
Committee Type*Continuing
Presidential*No
Committee Function*Other Committee
Hide Section - RECOMMENDATION/JUSTIFICATIONS

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*Continue
Legislation to Terminate RequiredNot Applicable
Legislation StatusNot Applicable
How does cmte accomplish its purpose?*The objective of the Committee is to provide expert insights on risks to financial stability to the OFR and to assist the OFR in carrying out its duties and authorities as set out in the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Committee accomplishes its purpose by offering advice and recommendations, which may involve discussions on issues, processes, studies, and/or reports on a range of topics regarding financial data and related technology and research on threats to financial stability, as well as other topics related to OFR's duties and authorities.
How is membership balanced?*The Committee is composed of recognized experts in the fields of economics, financial institutions and markets, statistical analysis, financial markets analysis, econometrics, applied sciences, risk management, data, information standards, technology, or other areas related to OFR's duties and authorities. The Committee is appropriately balanced with regards to expertise and perspectives. Other balance factors that OFR has identified as important for the Committee's membership include diversity of geography and demographics and diversity in institutional size or type for members who may be representative of an institution or industry. The number or members and the membership balance of the Committee are not static and will vary depending on OFR's needs and the work of the Committee.
How frequent & relevant are cmte mtgs?*The Committee shall meet at such intervals as are necessary to carry out its duties. Each year, the Committee intends to conduct approximately two public meetings, and work sessions, as needed.
Why advice can't be obtained elsewhere?*The Committee provides an opportunity for academics, researchers, industry leaders, and other qualified individuals to offer their expert advice to the OFR, which, among other things, is responsible for collecting and standardizing data on financial institutions and their activties and for supporting the work of federal financial regulators and researchers on issues related to financial stability. There exists no other source within the Federal government that serves this function.
Why close or partially close meetings?N/A
Recommendation RemarksN/A
Hide Section - PERFORMANCE MEASURES

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*NoAction Reorganize Priorities*No
Outcome Trust In GovernmentNoAction Reallocate ResourcesNo
Outcome Major Policy ChangesNoAction Issued New RegulationsNo
Outcome Advance In Scientific ResearchNoAction Proposed LegislationNo
Outcome Effective Grant MakingNoAction Approved Grants Or Other PaymentsNo
Outcome Improved Service DeliveryYesAction OtherNo
Outcome Increased Customer SatisfactionYesAction CommentNot Applicable
Outcome Implement Laws/Reg RequirementsNoGrants Review*No
Outcome OtherYesNumber Of Grants Reviewed0
Outcome CommentIncreased insight into monitoring risks to financial stability.Number Of Grants Recommended0
Cost Savings*NoneDollar Value Of Grants Recommended$0.00
Cost Savings CommentNot ApplicableGrants Review CommentN/A
Number Of Recommendations*0Access Contact Designated Fed. Officer*Yes
Number Of Recommendations CommentBy design, the FRAC does not issue recommendations. It is focused on providing expert insights into risks to financial stability.Access Agency WebsiteYes
% of Recs Fully Implemented* Access Committee WebsiteYes
% of Recs Fully Implemented CommentAccess GSA FACA WebsiteYes
% of Recs Partially Implemented* Access PublicationsYes
% of Recs Partially Implemented CommentAccess OtherNo
Agency Feedback*YesAccess CommentNo other access
Agency Feedback Comment*During public meetings and through the DFO.Narrative Description*The purpose of the FRAC is to provide expert insights on risks to financial stability to the Office of Financial Research (OFR) to assist the OFR in achieving its mandates, goals, and missions (Dodd-Frank Wall Street Reform and Consumer Protection Act P.L. 111-203, July 21, 2010).
Hide Section - COSTS

COSTS

Payments to Non-Federal Members*$0.00Est Payments to Non-Fed Members Next FY*$0.00
Payments to Federal Members*$0.00Est. Payments to Fed Members Next FY*$0.00
Payments to Federal Staff*$215,559.00Estimated Payments to Federal Staff*$225,000.00
Payments to Consultants*$0.00Est. Payments to Consultants Next FY*$0.00
Travel Reimb. For Non-Federal Members*$3,148.08Est Travel Reimb Non-Fed Members nextFY*$4,000.00
Travel Reimb. For Federal Members*$0.00Est Travel Reimb For Fed Members*$0.00
Travel Reimb. For Federal Staff* Est. Travel Reimb to Fed Staff Next FY*$1,000.00
Travel Reimb. For Consultants*$0.00Est Travel Reimb to Consultants Next FY*$0.00
Other Costs$2,896.00Est. Other Costs Next FY*$3,000.00
Total Costs$221,603.08Est. Total Next FY*$233,000.00
Federal Staff Support (FTE)*0.77Est. Fed Staff Support Next FY*0.77
Cost RemarksEst Cost Remarks
Hide Section - Interest Areas

Interest Areas

Category
Area
Applied Science
Statistics
Data
Data Integrity
Data Quality
Finance
Banking
Finance
Justice
Research and Statistics
Research and Statistics
Legislation
Regulations
Research
Basic Research
Research and Development
Research and Statistics
Research and Statistics
Hide Section - MEMBERS,MEETINGS AND ADVISORY REPORTS

MEMBERS,MEETINGS AND ADVISORY REPORTS

To View all the members, meetings and advisory reports for this committee please click here
Hide Section - CHARTERS AND RELATED DOCS

CHARTERS AND RELATED DOCS

No Documents Found
Hide Section - DATA FROM PREVIOUS YEARS

DATA FROM PREVIOUS YEARS

Committee

Data from Previous Years

 
ActionCommittee System IDCommittee NameFiscal Year
 COM-035133Financial Research Advisory Committee2019
 COM-032562Financial Research Advisory Committee2018
 COM-002106Financial Research Advisory Committee2017
 COM-002509Financial Research Advisory Committee2016
 COM-003273Financial Research Advisory Committee2015
 COM-005223Financial Research Advisory Committee2014
 COM-006348Financial Research Advisory Committee2013
 COM-006742Financial Research Advisory Committee2012