FACACLASSIC

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.

Details on agency responses to committee recommendations can be found under the Performance Measures section for each committee in the fields “Agency Feedback” and “Agency Feedback Comment.”

TRES - 79211 - Financial Research Advisory Committee - Agency Authority

GENERAL INFORMATION

Committee Name	Financial Research Advisory Committee	Agency Name	Department of the Treasury
Fiscal Year	2025	Committee Number	79211
Original Establishment Date	4/6/2012	Committee Status	Chartered
Actual Termination Date		Committee URL	http://financialresearch.gov/frac/
Actual Merged Date		Presidential Appointments*	No
New Committee This FY	No	Max Number of Members*	40
Terminated This FY	No	Designated Fed Officer Position Title*	Senior Government Affairs Specialist
Merged This FY		Designated Federal Officer Prefix
Current Charter Date	1/26/2022	Designated Federal Officer First Name*	Patricia
Date Of Renewal Charter	1/26/2024	Designated Federal Officer Middle Name
Projected Termination Date		Designated Federal Officer Last Name*	Driver
Exempt From Renewal*	No	Designated Federal Officer Suffix
Specific Termination Authority		Designated Federal Officer Phone*	(202) 622-1766
Establishment Authority*	Agency Authority	Designated Federal Officer Fax*	n/a
Specific Establishment Authority*	Assistant Secretary for Management Dan Tangherlini Approval Memo dated 9/22/2011	Designated Federal Officer Email*	tricia.driver@ofr.treasury.gov
Effective Date Of Authority*	9/30/2011
Exempt From EO 13875 Discretionary Cmte	Not Applicable
Committee Type*	Continuing
Presidential*	No
Committee Function*	Other Committee

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*	Continue
Legislation to Terminate Required	Not Applicable
Legislation Status	Not 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 Remarks	N/A

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*	No	Action Reorganize Priorities*	No
Outcome Trust In Government	No	Action Reallocate Resources	No
Outcome Major Policy Changes	No	Action Issued New Regulations	No
Outcome Advance In Scientific Research	No	Action Proposed Legislation	No
Outcome Effective Grant Making	No	Action Approved Grants Or Other Payments	No
Outcome Improved Service Delivery	Yes	Action Other	No
Outcome Increased Customer Satisfaction	Yes	Action Comment	Not Applicable
Outcome Implement Laws/Reg Requirements	No	Grants Review*	No
Outcome Other	Yes	Number Of Grants Reviewed	0
Outcome Comment	Increased insight into monitoring risks to financial stability.	Number Of Grants Recommended	0
Cost Savings*	None	Dollar Value Of Grants Recommended	$0.00
Cost Savings Comment	Not Applicable	Grants Review Comment	N/A
Number Of Recommendations*	0	Access Contact Designated Fed. Officer*	Yes
Number Of Recommendations Comment	By design, the FRAC does not issue recommendations. It is focused on providing expert insights into risks to financial stability.	Access Agency Website	Yes
% of Recs Fully Implemented*		Access Committee Website	Yes
% of Recs Fully Implemented Comment		Access GSA FACA Website	Yes
% of Recs Partially Implemented*		Access Publications	Yes
% of Recs Partially Implemented Comment		Access Other	No
Agency Feedback*	Yes	Access Comment	No 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).

COSTS

1. Payments to Non-Federal Members*		1. Est Paymnts to Non-Fed Membrs Nxt FY*
2. Payments to Federal Members*		2. Est. Payments to Fed Members Next FY*
3. Payments to Federal Staff*		3. Estimated Payments to Federal Staff*
4. Payments to Consultants*		4. Est. Payments to Consultants Next FY*
5. Travel Reimb. For Non-Federal Membrs*		5. Est Travel Reimb Non-Fed Membr nxtFY*
6. Travel Reimb. For Federal Members*		6. Est Travel Reimb For Fed Members*
7. Travel Reimb. For Federal Staff*		7. Est. Travel Reimb to Fed Staf Nxt FY*
8. Travel Reimb. For Consultants*		8. Est Travel Reimb to Consltnts Nxt FY*
10. Other Costs		10. Est. Other Costs Next FY*
11. Total Costs	$0.00	11. Est. Total Next FY*	$0.00
Date Cost Last Modified	2/13/2025 12:51 PM	Est. Fed Staff Support Next FY*
Federal Staff Support (FTE)*		Est Cost Remarks
Cost Remarks

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

Custom Links

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