OCC 2005-6
OCC Bulletin

Subject:      Appraisal Regulations and the Interagency 
              Statement on Independent Appraisal and 
              Evaluation Functions
Description:  Frequently Asked Questions

Date:         March 22, 2005

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, and the
National Credit Union Administration are jointly issuing the
attached document to address frequently asked questions (FAQ)
concerning independence of the collateral valuation process.

This FAQ document provides clarification and reminds banks of the
existing standards for independence within appraisal and real
estate lending regulations (12 CFR 34, C, 34.45), the Interagency
Appraisal and Evaluation Guidelines, and Advisory Letter 2003-9,
"Independent Appraisal and Evaluation Functions," dated October
28, 2003.

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




____________________________
Barbara J. Grunkemeyer
Deputy Comptroller for Credit Risk


Attachment: Frequently Asked Questions
            [http://www.occ.treas.gov/ftp/bulletin/2005-6a.pdf]