§34.81. Definitions.
12 C.F.R. § 34.81
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:
DPC real estate; and
Former banking premises. Recorded investment amount means:
For loans, the recorded loan balance, as determined by generally accepted accounting principles; and
For former banking premises, the net book value.
Notes, amendments, and revision history
Amendments
[61 FR 11301, Mar. 20, 1996, as amended at 79 FR 11313, Feb. 28, 2014; 84 FR 56374, Oct. 22, 2019]
Source
Source: 61 FR 11301, Mar. 20, 1996, unless otherwise noted.
Authority
Authority: 12 U.S.C. 1 et seq., 25b, 29, 93a, 371, 1462a, 1463, 1464, 1465, 1701j-3, 1828(o), 3331 et seq., 5101 et seq., 5412(b)(2)(B) and 15 U.S.C. 1639h.
Amendments
[61 FR 11301, Mar. 20, 1996, as amended at 79 FR 11313, Feb. 28, 2014; 84 FR 56374, Oct. 22, 2019]