The Board of Governors of the Federal Reserve System (FRB) has issued a letter covering various questions and answers regarding the management of OREO by institutions regulated by the FRB. During the recent financial crisis, financial institutions have experienced a rise in OREO caused by general weaknesses in the housing market, including increases in delinquencies and defaults, house price declines, and weaknesses in the structure of a number of commercial real estate financings. The Questions and Answers for Federal Reserve-Regulated Institutions Related to the Management of Other Real Estate Owned (OREO) Assets document (Q&A document) is intended to clarify existing policies and promote prudent practices for the management of an institution’s OREO assets, addressing both safety-and-soundness policies and consumer compliance issues. The Questions and Answers can be found at http://www.federalreserve.gov/bankinforeg/srletters/sr1210.htm.