12 U.S.C. § 5238 — Study on mark-to-market accounting

(a) Study The Securities and Exchange Commission , in consultation with the Board and the Secretary, shall conduct a study on mark-to-market accounting standards as provided in Statement Number 157 of the Financial Accounting Standards Board, as such standards are applicable to financial institutions, including depository institutions. Such a study shall consider at a minimum— (1) the effects of such accounting standards on a financial institution ’s balance sheet; (2) the impacts of such accounting on bank failures in 2008; (3) the impact of such standards on the quality of financial information available to investors; (4) the process used by the Financial Accounting Standards Board in developing accounting standards; (5) the advisability and feasibility of modifications to such standards; and (6) alternative accounting standards to those provided in such Statement Number 157. (b) Report The Securities and Exchange Commission shall submit to Congress a report of such study before the end of the 90-day period beginning on October 3, 2008 , containing the findings and determinations of the Commission, including such administrative and legislative recommendations as the Commission determines appropriate. ( Pub. L. 110–343, div. A, title I, § 133 , Oct. 3, 2008 , 122 Stat. 3798 .)

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