The Office of Financial Research (OFR) is an independent bureau within the United States Department of the Treasury that was established by the Dodd–Frank Wall Street Reform and Consumer Protection Act, whose passage in 2010 was a legislative response to the financial crisis of 2007–08 and the subsequent Great Recession.
Section  of the Dodd-Frank Act charged the Office of Financial Research with supporting the Financial Stability Oversight Council and member agencies by:
- Collecting data on behalf of the Council, and providing such data to the Council and member agencies;
- Standardizing the types and formats of data reported and collected;
- Performing applied research and essential long-term research;
- Developing tools for risk measurement and monitoring;
- Performing other related services;
- Making the results of the activities of the Office available to financial regulatory agencies; and
- Assisting Council member agencies in determining the types and formats of data authorized by the Act to be collected by the member agencies.
The Director has Subpoena power and may require from any financial institution (bank or non-bank) any data needed to carry out the functions of the office.
List of Directors of the Office of Financial Research
||January 2, 2013