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

(a) Study. The SEC, consulting the Board^* and Secretary^*, must study the mark-to-market standards in Statement 157 as applied to financial institutions, including depository institutions. At minimum it must consider: (1) effects on an institution's balance sheet; (2) effects on bank failures in 2008; (3) effects on the quality of information available to investors; (4) how the Financial Accounting Standards Board developed the standards; (5) whether changing the standards is advisable and feasible; and (6) alternatives to Statement 157. (b) Report. Before the 90-day period beginning October 3, 2008 ends, the SEC must send Congress a report containing its findings and determinations and any administrative or legislative recommendations it considers appropriate.