Regulatory Alerts2004-01-01
OSBC Comprehensive Other Real Estate Policy and Guidelines
The Office of the State Bank Commissioner issued this memo to revise and replace prior policies governing the definition, transfer, and holding periods for Other Real Estate (ORE). It establishes strict accounting treatments for ORE acquisition, including valuation at the lower of cost or fair market value, and details the capitalization versus expensing of holding costs and legal fees. The document further mandates specific documentation standards, outlines procedures for ORE swaps and sales, and defines classification criteria and reserve requirements for regulatory reporting.
Share