On December 2, 2010, the OCC, the Board, the FDIC, the OTS, and the National Credit Union Administration issued their longawaited revision to the Interagency Appraisal and Evaluation Guidelines, which were first issued in 1994. The Guidelines, applicable to regulated banking institutions, identify the components of a safe and sound program for performing appraisals and evaluations for real estate-related financial transactions. The Guidelines contain both regulatory requirements and prudent banking practices. For more information, see our client alert at http://www.mofo.com/files/Uploads/Images/101216-Final-Interagency.pdf.