12 C.F.R. § 34.81

Current through September 30, 2024

Section 34.81 - Definitions

Debts previously contracted (DPC) real estate means real estate (including leases) acquired by a national bank or Federal savings association through any means in full or partial satisfaction of a debt previously contracted.

Former banking premises means real estate permissible under § 7.1000(a)(1) of this chapter that is no longer used or contemplated to be used for the purposes permitted under that section.

Market value means the value determined in accordance with subpart C of this part.

Other real estate owned (OREO) means:

(1) DPC real estate; and

(2) Former banking premises.

Recorded investment amount means:

(1) For loans, the recorded loan balance, as determined by generally accepted accounting principles; and

(2) For former banking premises, the net book value.

12 C.F.R. §34.81

61 FR 11301, Mar. 20, 1996, as amended at 79 FR 11313, Feb. 28, 2014; 84 FR 56374, Oct. 22, 2019

84 FR 56374, 12/1/2019; 84 FR 61795, 1/1/2020; 84 FR 69298, 1/1/2020