§5238 Study on Mark-to-market Accounting

Summary

The Securities and Exchange Commission must study mark-to-market accounting under Financial Accounting Standards Board Statement Number 157 for financial institutions, including depository institutions, with help from the Board and the Secretary. The study must look at effects on a financial institution’s balance sheet, any role in 2008 bank failures, how the rules affect investor information, the FASB rulemaking process, whether changes are advisable and feasible, and alternative accounting methods. The SEC must send Congress a report with findings and any administrative or legislative recommendations by the end of the 90-day period beginning on October 3, 2008.