Funny...
the American Bankers Association is upset that financial accounting standards require that they report their assets at the lower of cost or market.
Reporting the value of something at the lower of cost or market is on board with a time-honored tradition of accounting--conservative is better...
So, where do you go when accounting standards that apply to everybody else and have been in place forever are making you look bad?
Congress, of course.
The Federal Government is the bunch that takes your social security taxes, spends it, and then calls the money it owes you an asset....this the bunch that when they couldn't account for $2 trillion dollars (and this was back when $2 trillion was a lot of money) at the pentagon, they decided to try to save money by cutting out reports....like the report showing they couldn't account for $2 trillion.
But I'm sure they'll do a bang up job on re-writing the accounting standards.
(incidentally....in case you're not aware, "regulatory agencies" by and large do not regulate anything other than competition...other than that, they facilitate and they should therefore be call "facilitory agencies".)