Fed to vote on plan to collect data on bank bond-trading

WASHINGTON (MarketWatch) - The Federal Reserve announced Friday it will vote on a plan to collect data from banks on government-bond trading. The collection of this secondary market data "would allow the U.S. official sector a more complete view of Treasury securities trading in the secondary market," said Fed Gov. Jerome Powell in a prepared statement. The Fed said it would enter talks with the Financial Industry Regulatory Authority to act as the Fed's collection agent. Powell noted that experts called for the government to take this step in the wake of the Treasury market mini-flash crash of Oct. 2014. The Fed vote will come after public comment on the proposal. Regulators want to access trading data for all secondary market transactions by the end of the year. The Securities and Exchange Commission and Treasury Department have already asked FINRA to collect data from broker-dealers.

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