### Question
Can you define what economically depressed region means?


### Answer
**Economically depressed region** is defined as the following in *12 U.S.C. § 1823*:

> any geographical region which the Corporation determines by regulation to be a region within which real estate values have suffered serious decline due to severe economic conditions, such as a decline in energy or agricultural values or prices

#### Citation:
  - *12 U.S.C. § 1823*
  - Heading: **CHAPTER 15-FEDERAL LOAN AGENCY**

