Definitions.

§ 34.81 Definitions. Debts previously contracted (DPC) real estate means real estate (including leases) acquired by a national bank or Federal savings association through any means in full or partial satisfaction of a debt previously contracted. Former banking premises means real estate permissible under § 7.1000(a)(1) of this chapter that is no longer used or contemplated to be used for the purposes permitted under that section. Market value means the value determined in accordance with subpart C of this part. Other real estate owned (OREO) means: (1) DPC real estate; and (2) Former banking premises. Recorded investment amount means: (1) For loans, the recorded loan balance, as determined by generally accepted accounting principles; and (2) For former banking premises, the net book value. [61 FR 11301, Mar. 20, 1996, as amended at 79 FR 11313, Feb. 28, 2014; 84 FR 56374, Oct. 22, 2019]