WASHINGTON, DC (PRWEB) August 6, 2009 – The Board of Directors of the American Statistical Association (ASA), at its meeting here August 1, voted to endorse a proposal to create a National Institute of Finance (NIF). The proposal calls for the establishment of the NIF as an independent federal agency with the responsibility and authority to provide the data and analytic tools needed to safeguard the U.S. financial system.

The Board adopted the following statement in support of the NIF: “We believe a new data and analytic infrastructure is required to maximize the effectiveness of any financial regulatory system. In view of this reality and recognizing the current effort to reform the financial regulatory system, we add our voice to the call for the creation of a National Institute of Finance containing a Financial Data Center and an Analytic Research Center.”                                           Download full press release