Other Real Estate Owned: Final Rule

Summary

On October 22, 2019, the Office of the Comptroller of the Currency (OCC) published a final rule on other real estate owned (OREO) activities for national banks and federal savings associations. OREO refers to real estate acquired in satisfaction of debts previously contracted and real estate no longer used or planned to be used to conduct banking activities. The final rule is effective January 1, 2020.

Highlights

The final rule

• clarifies and streamlines the OCC's existing OREO rule for national banks.
• updates the regulatory framework for OREO activities at federal savings associations.
• makes technical amendments to the capital rules, including on provisions related to OREO.

Further Information

Please contact Charlotte Bahin, Senior Advisor for Thrift Supervision, at (202) 649-6281; or J. William Binkley, Attorney, or Kevin Korzeniewski, Counsel, Chief Counsel's Office, at (202) 649-5490.

Jonathan V. Gould
Senior Deputy Comptroller and Chief Counsel

Related Links

• Other Real Estate Owned and Technical Amendments (PDF)
• Other Real Estate Owned and Technical Amendments; Amendment of Effective Date and Correction (PDF)