Data Dictionary
Item Number 3656
DIRECT AND INDIRECT INVESTMENTS IN REAL ESTATE VENTURESCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| BHCK3656 | 1990-09-30 | 9999-12-31 | No | FR Y-9C |
| RCFD3656 | 1989-03-31 | 1990-12-31 | No | Multiple Forms |
| RCFD3656 | 2001-03-31 | 2009-03-31 | No | Multiple Forms |
| RCFD3656 | 2009-06-30 | 9999-12-31 | No | Multiple Forms |
| RCON3656 | 1989-03-31 | 1990-12-31 | No | Multiple Forms |
| RCON3656 | 2001-03-31 | 2009-03-31 | No | Multiple Forms |
| RCON3656 | 2009-06-30 | 9999-12-31 | No | Multiple Forms |
Data Description:
Includes the book value of direct and indirect investments in real estate ventures. This item should be reported net of any valuation allowance applicable to such investments. On the balance sheet, investments in real estate ventures is included in "Other Real Estate Owned (2150)" or in "Investments in Unconsolidated Subsidiaries and Associated Companies (2130)", as appropriate, based on the nature of the investment.
(1) Any real estate acquired, directly or indirectly, by the bank or bank holding company or a consolidated subsidiary and held for development, resale, or other investment purposes. (Excludes real estate acquired in any manner for debts previously contracted, including, but not limited to, real estate acquired through foreclosure or acquired by deed in lieu of foreclosure.)
(2) Any debt or equity investments by the bank or bank holding company in subsidiaries that have not been consolidated; associated companies; and corporate joint ventures, unincorporated joint ventures, and general and limited partnerships over which the bank or bank holding company or its subsidiaries exercised significant influence (all of which are commonly referred to as "investees,") if such investees are primarily engaged in the holding of real estate for development, resale, or other investment purposes. Investments by the bank or bank holding company in these investees, which has already been reported in "Investments in Unconsolidated Subsidiaries and Associated Companies (2130)", may be in the form of common or preferred stock, partnership interests, loans or other advances, bonds, notes, or debentures. Such investments are reported using the equity method of accounting as described in the instruction to item 2130.
(3) Real estate acquisition, development, or construction (ADC) arrangements which are accounted for as direct investments in real estate or as real estate joint ventures in accordance with guidance prepared by the American Institute of Certified Public Accountants (AICPA) in Notices to Practitioners issued in November 1983, November 1984, and February 1986.
(4) Real estate acquired and held for investment by the bank or a consolidated subsidiary that has been sold under contract and accounted for under the deposit method of accounting in accordance with FASB Statement No. 66, "Accounting for Sales of Real Estate." Under this method, the seller does not record notes receivable, but continues to report the real estate and any related existing debt on its balance sheet. The deposit method is used when a sale has not been consummated and is commonly used when the initial investment in the property (as defined in Statement No. 66) was inadequate and recovery of the carrying value of the property is not reasonably assured. Once these criteria have been met, the receivable resulting from the sale of the real estate would be excluded from this item.
(5) Receivables resulting from sales of real estate acquired and held for investment by the bank and its consolidated subsidiaries accounted for under the installment, cost recovery, reduced profit, or percentage-of-completion method of accounting in accordance with FASB Statement No. 66, "Accounting for Sales of Real Estate," when the buyer's initial investment (as defined in FASB Statement No. 66) is less than 10 percent of the sales value of the real estate sold. Once this 10 percent initial investment condition has been met, the receivable should be excluded from this item.
(6) Any other loans secured by real estate and advanced for real estate acquisition, development, or investment purposes if the reporting bank or bank holding company in substance has virtually the same risks and potential rewards as an investor in the borrower's real estate venture.
Excludes any property necessary for the conduct of banking business which is reported in "Premises and Fixed Assets (2145)", and any property not specifically held for real estate development or other investment purposes which is reported in "Other Real Estate Owned (2150)".
NOTE: 12 USC 29 limits the authority of national banks to hold real estate. State member banks are not authorized to invest in real estate except with the prior approval of the Board of Governors of the Federal Reserve System under Federal Reserve Regulation H (12 CFR Part 208). In certain states, nonmember banks may invest in real estate.
Also this item is reported only by bank holding companies that have been authorized by the Federal Reserve to have real estate investments. Includes equity investments, funded loans, and committed loans in real estate projects in which the bank holding company or its subsidiaries have an equity investment.
NOTE:
As of 6/30/2009 RCFD and RCON items will be REPORTED on schedule RC line 9.
20010331 through 20090331, item derived for RCFD and RCON, derived for FDIC.