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The OCC, FRB, and FDIC issued a notice of proposed rulemaking (NPRM) that would increase the threshold level at or below which appraisals would not be required for residential real estate-related transactions from $250,000 to $400,000. Regulated institutions would be required to obtain an evaluation of the real property collateral that is consistent with safe and sound banking practices. The NPR would also make conforming changes to add transactions secured by residential property in rural areas that have been exempted from the agencies' appraisal requirement pursuant to the Economic Growth, Regulatory Relief and Consumer Protection Act to the list of exempt transactions and require evaluations for these exempt transactions. Pursuant to the Dodd-Frank Act, the NPR would amend the agencies' appraisal regulations to require regulated institutions to subject appraisals for federally related transactions to appropriate review for compliance with the Uniform Standards of Professional Appraisal Practice.