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Definition

Open Risk Data is any dataset that has direct or indirect applications in Risk Management and is released as under an Open Data license. Broadly speaking, Open Data are freely available to everyone to use and republish as they wish, without restrictions from copyright, patents or other mechanisms of control.

Types of Data

Open Data relevant for risk management can be of various types:

  • Government Data and Statistics collected and published by National Statistical Agencies or Supranational Organizations
  • Market Data from organized markets / exchanges
  • Consumer Data
  • Regulatory Disclosures
  • Corporate Data

Open Data Licenses

Formally a dataset is open if it is complies with a recognized open data definition. The two main categories of open data are either:

  • Data in the Public Domain (possibly without explicit license)
  • Data provided explicitly under an open data license

In addition, there may be data sets relevant for risk management that are free to use for some purposes, but are not actually open as per the above definition.

Data Formats

There are currently no public risk data formats or standards for the transmission of risk related data. Generally, risk data are transmitted using ad-hoc formats, or formats developed in domains other than risk management. A discussion of the current status is provided in Risk Data Standards. It is worth mentioning that statistical data exchange among statistics institutions is to some extend standardized around SDMX.

Open Data Provider List

The table below organizes available Open Risk Data providers.

Criteria for inclusion

The objective of the list is to identify as far as possible direct sources of open data sets. Yet there might be significant overlap among the various data repositories as various institutions share and republish open data.

At present the list does not attempt to evaluate the degree of "openness" of the various data sources.

Legend

The first entry per record is a general identifier of the data provider. The second entry is the general type of data provided. Large data repositories may include multiple types of data. The URL is a web link where actual data can be accessed, potentially requiring registration. Format/API is an indication how the data can be retrieved, keeping in mind that large repositories may be providing data in multiple formats / channels.

Table

Data Provider Type URL Format/API Comments
Supra-national statistics and macro data
United Nations Data General http://data.un.org/ SDMX
European Union Open Data Portal General https://open-data.europa.eu/en/data/ Various
European Data Portal General http://www.europeandataportal.eu/ Various
openAfrica General https://africaopendata.org/ Various
African Development Bank Group General http://dataportal.afdb.org/default.aspx Various
World Bank General http://data.worldbank.org/ Various
IMF Data General http://data.imf.org Various
Eurostat General http://ec.europa.eu/eurostat SDMX
OECD Data General https://data.oecd.org/ Various
ECB Statistical Data Warehouse Macroeconomic http://sdw.ecb.europa.eu/ SDMX/REST
Select National Statistics / Macro Data Warehouses
FRED Economic Data Macroeconomic http://research.stlouisfed.org/fred2/ FRED® API
Euro Area Business Cycle Network Macroeconomic http://www.eabcn.org/page/european-data-sources List of EU National Statistics and Central Bank Sources
Regulatory Disclosures
BIS Statistics Banking System Statistics http://stats.bis.org/bis-stats-tool/org.bis.stats.ui.StatsApplication/StatsApplication.html Various
European Banking Authority Risk Dashboard European Banking System Statistics http://www.c-ebs.org/web/guest/risk-analysis-and-data/risk-dashboard XLS
Market Data
SEC Market Data Market Structure Data https://www.sec.gov/data CSV
Bloomberg SDR Swap Data http://www.bloombergsdr.com/slicefiles CSV
Depository Trust & Clearing Corp. (DTCC) SDR Swap Data https://rtdata.dtcc.com/gtr/dashboard.do ZIP/CSV
Corporate Data
Open Corporates Corporate Web Addresses https://opencorporates.com/ JSON/XML/REST
Consumer Data
Fannie Mae Single Family Loan Performance Data https://loanperformancedata.fanniemae.com/lppub/index.html#Portfolio ZIP/CSV Account Required
Freddie Mac Single Family Loan-Level Dataset http://www.freddiemac.com/news/finance/sf_loanlevel_dataset.html ZIP/CSV Account Required

Issues and Challenges

  • Sometimes data providers do not explicitly identify the applicable type of license
  • Accessibility of data (formats, API's) may vary greatly

Contributors

Contributors to this article

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