12 U.S.C. § 5238

1. (a)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—
   1. (1)the effects of such accounting standards on a financial institution’s balance sheet;
   2. (2)the impacts of such accounting on bank failures in 2008;
   3. (3)the impact of such standards on the quality of financial information available to investors;
   4. (4)the process used by the Financial Accounting Standards Board in developing accounting standards;
   5. (5)the advisability and feasibility of modifications to such standards; and
   6. (6)alternative accounting standards to those provided in such Statement Number 157.
2. (b)The Securities and Exchange Commission shall submit to Congress a report of such study before the end of the 90-day period beginning on October 3, 2008, containing the findings and determinations of the Commission, including such administrative and legislative recommendations as the Commission determines appropriate.