Title 12, Banks and BankingRelease 119-110
§5237 Authority to Suspend Mark-to-market Accounting
Title 12 › CHAPTER 52 — EMERGENCY ECONOMIC STABILIZATION › SUBCHAPTER I — TROUBLED ASSETS RELIEF PROGRAM › § 5237
Summary
The SEC can, under the securities laws, suspend by rule, regulation, or order the use of Financial Accounting Standards Board Statement Number 157 for any issuer or for a class of transactions if it finds the suspension is needed for the public interest and still protects investors. It does not limit SEC authority as of October 3, 2008.
Full Legal Text
Title 12, §5237
Banks and Banking, Source: USLM XML via OLRC
(a)Authority
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)Savings provision
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
Sep 22, 2026
Release point: 119-110