{"identifier":"/us/usc/t12/s5238","title":12,"num":"\u00a7\u202f5238.","heading":"Study on mark-to-market accounting","text":"\u00a7\u202f5238.\nStudy on mark-to-market accounting\n(a)\nStudy\nThe 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\u2014\n(1) the effects of such accounting standards on a financial institution\u2019s balance sheet;\n(2) the impacts of such accounting on bank failures in 2008;\n(3) the impact of such standards on the quality of financial information available to investors;\n(4) the process used by the Financial Accounting Standards Board in developing accounting standards;\n(5) the advisability and feasibility of modifications to such standards; and\n(6) alternative accounting standards to those provided in such Statement Number 157.\n(b)\nReport\nThe Securities and Exchange Commission shall submit to Congress a report of such study before the end of the 90-day period beginning on\nOctober 3, 2008","url":"https://projectusc.org/usc/t12/s5238.html","content":[{"t":"sec","id":"/us/usc/t12/s5238","children":[{"t":"num","text":"\u00a7\u202f5238."},{"t":"heading","text":"Study on mark-to-market accounting"},{"t":"subsec","id":"/us/usc/t12/s5238/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Study"},{"t":"chapeau","text":"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\u2014"},{"t":"para","id":"/us/usc/t12/s5238/a/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" the effects of such accounting standards on a financial institution\u2019s balance sheet;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s5238/a/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" the impacts of such accounting on bank failures in 2008;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s5238/a/3","children":[{"t":"num","text":"(3)"},{"t":"content","text":" the impact of such standards on the quality of financial information available to investors;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s5238/a/4","children":[{"t":"num","text":"(4)"},{"t":"content","text":" the process used by the Financial Accounting Standards Board in developing accounting standards;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s5238/a/5","children":[{"t":"num","text":"(5)"},{"t":"content","text":" the advisability and feasibility of modifications to such standards; and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s5238/a/6","children":[{"t":"num","text":"(6)"},{"t":"content","text":" alternative accounting standards to those provided in such Statement Number 157.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s5238/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Report"},{"t":"content","children":[{"t":"p","text":"The Securities and Exchange Commission shall submit to Congress a report of such study before the end of the 90-day period beginning on ","children":[{"t":"text","text":"October 3, 2008","tail":", containing the findings and determinations of the Commission, including such administrative and legislative recommendations as the Commission determines appropriate."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"}]}]}