12 U.S.C. § 5238 — Study on mark-to-market accounting
submitted 18 years ago by Pub. L. 110-343 to r/title-12-BANKS-AND-BANKING · 178 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
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—
the effects of such accounting standards on a financial institution’s balance sheet;
the impacts of such accounting on bank failures in 2008;
the impact of such standards on the quality of financial information available to investors;
the process used by the Financial Accounting Standards Board in developing accounting standards;
the advisability and feasibility of modifications to such standards; and
alternative accounting standards to those provided in such Statement Number 157.
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.
Source credit: (Pub. L. 110–343, div. A, title I, § 133, Oct. 3, 2008, 122 Stat. 3798.)
- 2008Enacted · Pub. L. 110-343 · 122 Stat. 3798
A history note hasn’t been published yet. The record shows enactment by Pub. L. 110-343 on 2008-10-03.
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