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OCC Bulletin 2019-60
November 26, 2019
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Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
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.
The final rule applies to all national banks and federal savings associations.
The final rule
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