12 C.F.R. § 34.81

Definitions

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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.

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

Notes of Decisions

Cited in 2 cases, 2013–2013 · leading case: WFC Holdings Corp. v. United States, 728 F.3d 736 (8th Cir. 2013).

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WFC Holdings Corp. v. United States, 728 F.3d 736 (8th Cir. 2013). “12 C.F.R. § 34.81 (e)(2). “[F]or-mer banking premises” that the bank currently leases qualify “as OREO when a bank no longer uses the property for its banking business.”

WFC Holdings Corp. v. United States (8th Cir. 2013). “12 C.F.R. § 34.81 (e)(2). "[F]ormer banking premises" that the bank currently leases qualify "as OREO when a bank no longer uses the property for its banking business.”

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