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Banks may hold OREO eight years and may be permitted an additional two years subject to conditions established by the Commissioner. After expiration of the applicable period, property must be sold or carrying value brought to a value the Commissioner approves.

A: In accordance with Call Report instructions, an OREO asset is carried at the lower of (1) the fair value of the asset less the estimated cost to sell the asset or (2) the cost of the asset (that is, the OREO asset's fair value less cost to sell recorded at the time of foreclosure, as discussed in Question 2).

National banks may hold other real estate owned (OREO) under certain circumstances for prescribed periods. Real property becomes other real estate owned through a variety of circumstances; for example, as conveyance in satisfaction of debts previously contracted or the relocation of banking premises.

Other real estate owned, or OREO, may also be referred to as ORE, short for other real estate. Dependent upon the amount of OREO held by the entity, it may be included in the ?Other assets? line item on the balance sheet.

Financial institutions must disclose a financial instrument's APR before any agreement is signed. The APR provides a consistent basis for presenting annual interest rate information in order to protect consumers from misleading advertising.

Federal Regulation Z requires mortgage issuers, credit card companies, and other lenders to provide consumers with written disclosure of important credit terms. 1 The type of information that must be disclosed includes details about interest rates and how financing charges are calculated.

1. General rule. Section 226.14(c) requires disclosure of the corresponding annual percentage rate for each periodic rate (under § 226.7(d)). It is figured by multiplying each periodic rate by the number of periods per year.