Section 113(b) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5223(b)) is amended to read as follows:

`(b) Use of Market Mechanisms-

`(1) IN GENERAL- In making purchases under this Act, the Secretary shall--

`(A) make such purchases at the lowest price that the Secretary determines to be consistent with the purposes of this Act; and

`(B) maximize the efficiency of the use of taxpayer resources by using market mechanisms, including auctions or reverse auctions, where appropriate.

`(2) AUCTION FACILITATION-

`(A) IN GENERAL- The Secretary shall, in coordination with institutions that volunteer to participate, and not using any funds under this title for purchases, facilitate an auction of troubled assets owned by such institutions to third party purchasers.

`(B) REPORT- If the auction described in subparagraph (A) does not take place within the 3 month period following the date of the enactment of the TARP Reform and Accountability Act of 2009, the Secretary shall issue a report to the Congress stating--

`(i) why such auction has not taken place; and

`(ii) by what mechanism the Secretary feels that troubled assets could most expeditiously be valued and liquidated.'.