OREO expenditures and notification.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) Reasonably calculated to reduce any shortfall between the property's market value and the recorded investment amount; and (2) Consistent with safe and sound banking practices. (c) (1) Reasonably calculated to reduce any shortfall between the property's market value and the recorded investment amount; (2) Not made for the purpose of speculation in real estate; and (3) Consistent with safe and sound banking practices. (d) (2) The required notification must demonstrate that the additional expenditure is consistent with the conditions and limitations in paragraph (c) of this section. (3) Unless informed otherwise, the national bank or Federal savings association may implement the proposed plan on the thirty-first day (or sooner, if notified by the OCC) following receipt by the OCC of the notification, subject to any conditions imposed by the OCC.

official document · source cfr-2024 · id 12:§ 34.86