DKG @ KGC

Challenges in Real-Time Analysis of Ownership and Control in Banking

Regulators attempting to monitor changes and issues in the financial sector need ready access to current data. Quarterly reports, such as SEC filings, bank call reports, trade data reporting, other regulatory reports and data requested during examinations provide disconnected insights that support oversight, but may not be sufficiently timely or complete. These reports include terminology that is derived from arcane regulations going back to the early 1900s in some cases.The ability to analyze and predict change, including potential changes in cash flows when catastrophic events occur (or might occur) requires access to distributed content, both public and proprietary, with very clear semantics in order to provide proper oversight. The Financial Industry Business Ontology (FIBO) has been focused on support for financial instrument / securities data management and analysis for more than a decade, with increasing sophistication and coverage in the last several years in particular. Recent work includes supporting regulators in the United States and other countries in analysis related to risk analysis, with ownership and control relations at the heart of that work. The Global LEI Foundation provides an incomplete but important contribution through their ontology of ownership and control data, which we have mapped to FIBO. Other pieces of the puzzle in the US are managed by a repository called the National Information Center (NIC), which is managed by the Board of Governors of the Federal Reserve System, which has a 1980s data dictionary using terminology that the current data managers may or may not fully understand. None of these sources provide a complete view of the relationships between some of the entities involved in the financial ‘food chain’, but we believe that together the picture is clearer. The speakers are currently actively involved in a project aligning the GLEIF data with data from the NIC repository using and extending semantics from FIBO. Challenges include data currency, which is only possible if the data are loaded remotely from the various sources whenever that data is updated, leveraging additional public sources such as SEC filings, bank filings and others, having real time access to data for cash flow analysis, using for example, additions to FIBO to support the ACTUS cash flow emerging standard, and others. Most of the data is not available in RDF today, though the GLEIF data is published regularly on data.world. In this talk we will explore some of our findings to date and then open up the discussion to workshop participants to brainstorm about potential directions.