OCC BULLETIN 2018-26
Subject: Other Real Estate Owned
Date: August 31, 2018
To: Chief Executive Officers of All National Banks and Federal Savings Associations; Federal Branches and Agencies, Department and Division Heads; All Examining Personnel; and Other Interested Parties
Description: Updated Comptroller’s Handbook Booklet
The Office of the Comptroller of the Currency (OCC) today issued the updated1 “Other Real Estate Owned” booklet of the Comptroller’s Handbook, which provides guidance to examiners on banks’ acquisition, reporting, management, and disposition of other real estate owned (OREO). The updated booklet includes accounting changes for foreclosed property under contract, in accordance with the Financial Accounting Standards Board’s Accounting Standards Codification Subtopic 360-20, Subtopic 610-20, and Topic 606. Other updates were made to the booklet, as summarized in the “Highlights” section of this OCC Bulletin and in the “Table of Updates Since Publication” section of the OREO booklet.
The updated booklet replaces the booklet of the same title issued in September 2013. Also replaced is OCC Bulletin 2013-20, “Other Real Estate Owned: Comptroller’s Handbook Revisions and Rescissions.”
Note for Community Banks
This booklet applies to the OCC’s supervision of all national banks, federal savings associations (FSA), and federal branches and agencies (collectively, banks).
The updated booklet
Please contact the Commercial Credit Risk Policy Division at (202) 649-6670.
Grace E. Dailey