12 CFR § 34.81 - Definitions.

---
identifier: "/us/cfr/t12/s34.81"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 34.81 - Definitions."
title_number: 12
title_name: "Banks and Banking"
section_number: "34.81"
section_name: "Definitions."
chapter_name: "COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY"
part_number: "34"
part_name: "REAL ESTATE LENDING AND APPRAISALS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1  25b, 29, 93a, 371, 1462a, 1463, 1464, 1465, 1701j-3, 1828(o), 3331  5101  5412(b)(2)(B) and 15 U.S.C. 1639h."
cfr_part: "34"
---


# 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]