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.
12 U.S. Code § 5238. Study on mark-to-market accounting
(a) StudyThe 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—
the effects of such accounting standards on a financial institution’s balance sheet;
the process used by the Financial Accounting Standards Board in developing accounting standards;