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12 U.S.C. § 5238 - U.S. Code - Unannotated Title 12. Banks and Banking § 5238. Study on mark-to-market accounting

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - 12 U.S.C. § 5238 - U.S. Code - Unannotated Title 12. Banks and Banking § 5238. Study on mark-to-market accounting - last updated January 01, 2024 | https://codes.findlaw.com/us/title-12-banks-and-banking/12-usc-sect-5238/

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