Highlights:
The attached "Guidance on Other Real Estate":

• Emphasizes the need to properly maintain ORE.
• Reinforces the importance of and details the expenses associated with maintaining and protecting ORE from further deterioration.
• Addresses the need to comply with requirements for obtaining initial and updated values for ORE.
• Summarizes the accounting and reporting standards for ORE in each phase of ownership: acquisition, holding period, and disposition.

Distribution:
FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officer
Chief Loan Officer
Chief Financial Officer

Related Topics:
Real Estate Lending
Appraisals
Accounting for Other Real Estate

Attachment:
Guidance on Other Real Estate

Contacts:
Beverlea (Suzy) Gardner, Senior Examination
Specialist, at BGardner@FDIC.gov or (202) 898-
3640 and Leonard J. Bixby, Policy Analyst (Bank
Accounting), at LBixby@FDIC.gov or (202) 898-
6777.

Printable Format:
FIL-62-2008 - PDF (PDF Help)

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2008/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC financial institution letters may be obtained via the FDIC's Public Information Center (1-877-275-3342 or 703-562-2200).