The Interactive Data Project of the Securities and Exchange Commission (SEC) and the modernized Call Report system of the Federal Financial Institutions Examination Council (FFIEC) are two examples of existing initiatives that require financial firms to submit data in standardized formats. Both are both widely viewed as successful initiatives that were implemented sensibly, in stages, without imposing undue or unreasonable burdens on reporting firms. The NIF would build on the expertise and experience regulators have developed through initiatives such as these.