Title 12 — Banks and BankingRelease 119-73not60
§5237 Authority to Suspend Mark-to-market Accounting
Title 12 › Chapter 52— EMERGENCY ECONOMIC STABILIZATION › Subchapter I— TROUBLED ASSETS RELIEF PROGRAM › § 5237
Summary
The Securities and Exchange Commission may suspend the use of Financial Accounting Standards Board Statement Number 157. It may do this by rule, regulation, or order for any issuer or any type of transaction if the SEC finds the suspension is needed for the public interest and to protect investors. Nothing here limits other SEC powers under the securities laws as they existed 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 3, 2026
Release point: 119-73not60