§ 5238. Study on mark-to-market accounting

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 2008

   Emergency Economic Stabilization Act of 2008

   Pub. L. 110–343 div. A title I § 133 · 122 Stat. 3765

   Enacted · 12 U.S.C. § 5238

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

   Source evidence

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

   Enacted provision · exact public law section
   SEC. 133. 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 the date of the enactment of this Act containing the findings and determinations of the Commission, including such administrative and legislative recommendations as the Commission determines appropriate.

1 of 1 references resolved to an enrolled provision