12 USC 5238 - Study on mark-to-market accounting

U.S Code last checked for updates: Nov 22, 2024

§ 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

(Pub. L. 110–343, div. A, title I, § 133, Oct. 3, 2008, 122 Stat. 3798.)

cite as: 12 USC 5238