The Office of the Comptroller of the Currency (OCC) announced the release of the "Other Real Estate Owned" (OREO) booklet of the Comptroller's Handbook, which provides "updated guidance to examiners and bankers on the acquisition, reporting, management, and disposition of OREO" and to address "similarities and differences in the statutes and regulations unique to national banks and federal savings institutions (FSA)." The booklet updates a similarly titled booklet issued in March 1990 as well as examination procedures issued in April 1998. It also replaces section 251, “Real Estate Owned and Repossessed Assets,” issued in December 2010 as part of the Office of Thrift Supervision (OTS) Examination Handbook for the examination of federal savings associations. For more, read the full press release.