Committee to Establish the
 
National Institute of Finance
Providing the data and analytic tools needed to safeguard the U.S. financial system
Accuracy
How will data integrity be managed within the NIF application environment?  E-mail

The NIF's Federal Financial Data Center will be governed in compliance with the Federal Information Security Management Act (FISMA) of 2002. This act defines standards, guidelines and information security requirements for all federal agencies. Included under the regulations and practices are activities designed to ensure the integrity and authenticity of the data. In addition to FISMA, the data will also be subject to the appropriate securities and financial sector regulations.

 
How would the NIF assure that the data it collects are accurate?  E-mail

Data integrity is not a new challenge. Financial institutions across the marketplace already perform data validation on a daily basis. A variety of techniques are available, including data filtering, tolerance checks, cross-source comparison, and rule-based decision-tree methodologies. This optimal mix of data-validation mechanisms will be determined largely according to the particular type, source, frequency, and scope of the data involved.