Final Reminder - TRACE Depository Institution Reporting

This is the final reminder for the TRACE Depository Institution Reporting requirement before this initiative commences.

As announced by the Board of the Federal Reserve System in the Federal Register on October 28, 2021, FINRA will collect detailed data on depository institutions' daily transactions of marketable U.S. Treasury securities and of the debt and MBS issued by U.S. federal government agencies including government-sponsored enterprises (agencies) via its Trade Reporting and Compliance Engine (TRACE).

The effective date for this program is Thursday, September 1, 2022.

Every national bank, state member bank, state non-member bank, savings association, or U.S. branch and agency of a foreign bank filing a Notice of Government Securities Broker or Government Dealer Activities Form with average daily transaction volumes of over $100 million for U.S. Treasury securities, or over $50 million for agency-issued debt and MBS, during the prior fiscal year will be subject to the reporting requirements.

FINRA has a dedicated web page which includes the TRACE subproducts each participant is expected to report TRACE transactions for, and has a webinar recording of the July 12, 2022 Industry call which focused on Depository Banks TRACE reporting.

Please contact FINRA Product Management or call 866.899.2107 with questions regarding this notice.