OCC 2006-27
OCC Bulletin

    Subject:  2006 Revisions to Uniform Standards of 
              Professional Appraisal Practice 
Description:  Joint Interagency Statement and FAQs

       Date:  June 22, 2006

TO:  Chief Executive Officers of All National Banks and
     National Bank Operating Subsidiaries, Department 
     and Division Heads, and All Examining Personnel

The Office of the Comptroller of the Currency, the Board
of Governors of the Federal Reserve System, the Federal 
Deposit Insurance Corporation, the Office of Thrift 
Supervision, the National Credit Union Administration are
jointly issuing the attached document to alert regulated 
institutions to revisions in Uniform Standards of 
Professional Appraisal Practice effective July 1, 2006.  

This statement highlights the revisions and reminds banks
to consider the ramifications of the revisions to their 
appraisal practices.  To promote a better understanding 
of the revisions, the Appraisal Standards Board has 
issued a frequently asked question (FAQ) document.  The 
FAQ is provided as an attachment.

For further information concerning the matters discussed
in this bulletin or the attachment, please contact the 
Credit and Market Risk Department at (202) 874-5170 or 
your supervisory office.




Kathryn E. Dick
Deputy Comptroller for Credit and Market Risk


Attachments: 
*  Statement
   [http://www.occ.treas.gov/ftp/bulletin/2006-27a.pdf]
*  FAQs
   [http://www.occ.treas.gov/ftp/bulletin/2006-27b.pdf]