Title 12 — Banks and BankingRelease 119-73

§5237 Authority to suspend mark-to-market accounting

Title 12 › Chapter CHAPTER 52— - EMERGENCY ECONOMIC STABILIZATION › Subchapter SUBCHAPTER I— - TROUBLED ASSETS RELIEF PROGRAM › § 5237

Last updated Apr 6, 2026|Official source

Summary

Gives the Securities and Exchange Commission the power under the securities laws to suspend the use of Financial Accounting Standards Board Statement Number 157 for any issuer or for any class or category of transactions, by rule, regulation, or order, if the Commission finds it needed for the public interest and to protect investors. It also says this power does not reduce any SEC authority that existed under the securities laws on October 3, 2008.

Full Legal Text

Title 12, §5237

Banks and Banking — Source: USLM XML via OLRC

(a)The Securities and Exchange Commission shall have the authority under the securities laws (as such term is defined in section 78c(a)(47) of title 15) to suspend, by rule, regulation, or order, the application of Statement Number 157 of the Financial Accounting Standards Board for any issuer (as such term is defined in section 78c(a)(8) of such title) or with respect to any class or category of transaction if the Commission determines that is necessary or appropriate in the public interest and is consistent with the protection of investors.

(b)Nothing in subsection (a) shall be construed to restrict or limit any authority of the Securities and Exchange Commission under securities laws as in effect on October 3, 2008.

Reference

Citations & Metadata

Citation

12 U.S.C. § 5237

Title 12 — Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73