12 CFR § 323.1 - Authority, purpose, and scope.

---
identifier: "/us/cfr/t12/s323.1"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 323.1 - Authority, purpose, and scope."
title_number: 12
title_name: "Banks and Banking"
section_number: "323.1"
section_name: "Authority, purpose, and scope."
chapter_name: "FEDERAL DEPOSIT INSURANCE CORPORATION"
subchapter_number: "B"
subchapter_name: "REGULATIONS AND STATEMENTS OF GENERAL POLICY"
part_number: "323"
part_name: "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. 1818, 1819(a)(“Seventh” and “Tenth”), 1831p-1 and 3331"
regulatory_source: "55 FR 33888, Aug. 20, 1990, unless otherwise noted."
cfr_part: "323"
---


# 323.1 Authority, purpose, and scope.

(a) *Authority.* This subpart is issued under 12 U.S.C. 1818, 1819(a)(Seventh and Tenth), 1831p-1 and title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (Pub. L. 101-73, 103 Stat. 183, 12 U.S.C. 3331 *et seq.* (1989)).

(b) *Purpose and scope.* (1) title XI provides protection for federal financial and public policy interests in real estate related transactions by requiring real estate appraisals used in connection with federally related transactions to be performed in writing, in accordance with uniform standards, by appraisers whose competency has been demonstrated and whose professional conduct will be subject to effective supervision. This subpart implements the requirements of title XI and applies to all federally related transactions entered into by the FDIC or by institutions regulated by the FDIC (*regulated institutions*).

(2) This subpart: (i) Identifies which real estate-related financial transactions require the services of an appraiser;

(ii) Prescribes which categories of federally related transactions shall be appraised by a State certified appraiser and which by a State licensed appraiser; and

(iii) Prescribes minimum standards for the performance of real estate appraisals in connection with federally related transactions under the jurisdiction of the FDIC.

[55 FR 33888, Aug. 20, 1990, as amended at 80 FR 32684, June 9, 2015; 83 FR 15036, Apr. 9, 2018]