### Question
How is the "financial transaction data" defined?


### Answer
The term **financial transaction data** is defined in *12 U.S.C. § 5341* as follows -

> the structure and legal description of a financial contract, with sufficient detail to describe the rights and obligations between counterparties and make possible an independent valuation

#### Citation:
  - *12 U.S.C. § 5341*
  - Heading: **CHAPTER 53-WALL STREET REFORM AND CONSUMER PROTECTION > SUBCHAPTER I-FINANCIAL STABILITY > Part B-Office of Financial Research**

