The Bank Regulation Ontology is an operational application of the Financial Regulation Ontology.

In Semantic Compliance® the ontology defines semantic rules to evaluate federal regulations. The purpose is operational for:

• Banks to determine regulatory treatment and to compile reports and forms. The focus is on CCAR the Comprehensive Capital Analysis and Review. We are starting with the Call Reports as an example.
• Regulators to extract filing data, transform and load it into semantic data structures.

Banks to determine regulatory treatment and to compile reports and forms. The focus is on CCAR the Comprehensive Capital Analysis and Review. We are starting with the Call Reports as an example.
Regulators to extract filing data, transform and load it into semantic data structures.

The Semantic Web is the World Wide Web Consortium (W3C) extension of conventional web. The standards promote common data formats and exchange protocols on the Web, most fundamentally RDF, the Resource Description Framework. In RDF everything is a triple of subject-predicate-object.

Ontology Web Language (OWL) standard extends RDF with semantics for classes, properties and individuals. Beyond web applications, the semantic technology stack includes RDF database systems, SPARQL query language, inference and rules engine.

Bank compliance crosses the domains of Finance and Legal.

The Bank ontology imports, aligns and extends the dominant reference ontologies:

• The Financial Industry Business Ontology (FIBO) is a collaboration between the Enterprise Data Management Council and the Object Management Group.
  FIBO holds the Fund’s reference data and financial information.
• The Legal Knowledge Interchange Format (LKIF), a European Union project models legal rules of the kind found in legislation and regulations.
  LKIF holds the legislative context, text of laws and regulations and legal forms.

Financial Regulation Ontology is the higher level, core ontology for all financial service providers. The ontology contains the text of:

United States Code
Title		Chapter
12	Banks and Banking	17	Bank Holding Companies
		53	Wall Street Reform and Consumer Protection

and

Code of Federal Regulations
Title		Chapter		Part
12	Banks and Banking	II	Federal Reserve System	217	Capital Adequacy of Board Regulated Institutions
				225	Bank Holding Companies and change in Bank Control (Regulation Y)
				252	Enhanced Prudential Standards

Semantic compliance is not an out of the box piece of software. It is a new standards-based approach and methodology. All ontologies are Open Source with free MIT/GPL public license. Data and metadata management are part of the ontology. Requirements, models, mapping, lineage, business rules, everything expressed in RDF/OWL. Everything is a Triple.