---
kind: "section"
citation: "12 U.S.C. § 5227"
title: "12"
title_heading: "Banks and Banking"
number: "5227"
heading: "Study and report on margin authority"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5227"
units:
  - "Chapter 52 — Emergency Economic Stabilization"
  - "Subchapter I — Troubled Assets Relief Program"
---

# §5227. Study and report on margin authority

- (a) **Study—** The Comptroller General shall undertake a study to determine the extent to which leverage and sudden deleveraging of [financial institutions](/usc/12/5202.md?p=5) was a factor behind the current financial crisis.
- (b) **Content—** The study required by this section shall include—
  - (1) an analysis of the roles and responsibilities of the [Board](/usc/12/5202.md?p=2), the Securities and Exchange Commission, the [Secretary](/usc/12/5202.md?p=7), and other Federal banking agencies with respect to monitoring leverage and acting to curtail excessive leveraging;
  - (2) an analysis of the authority of the [Board](/usc/12/5202.md?p=2) to regulate leverage, including by setting margin requirements, and what process the [Board](/usc/12/5202.md?p=2) used to decide whether or not to use its authority;
  - (3) an analysis of any usage of the margin authority by the [Board](/usc/12/5202.md?p=2); and
  - (4) recommendations for the [Board](/usc/12/5202.md?p=2) and [appropriate committees of Congress](/usc/12/5202.md?p=1) with respect to the existing authority of the [Board](/usc/12/5202.md?p=2).
- (c) **Report—** Not later than June 1, 2009, the Comptroller General shall complete and submit a report on the study required by this section to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives.
- (d) **Sharing of information—** Any reports required under this section shall also be submitted to the Congressional Oversight Panel established under [section 5233 of this title](/usc/12/5233.md).

## Source credit

(Pub. L. 110–343, div. A, title I, § 117, Oct. 3, 2008, 122 Stat. 3786.)