Call Reports

Is NCUA making any changes to Q2 Call Report Instructions?

Yes. The National Credit Union Administration is making changes to second-quarter call reports due to the CARES Act and recent amendments to regulations as a result of the pandemic. They include:

  • New accounts to capture both the number and dollar amount of forbearance loans that credit unions have granted. Those loans will not be reported on either delinquency or troubled debt restructuring (TDR) schedules.
  • Sections to specify both the number and dollar amount of loans that credit unions have issued through the Small Business Administration’s Paycheck Protection Program (PPP).
  • An account capturing the amount of PPP loans pledged as collateral to the PPP Lending Facility (PPPLF).
  • Risk-based net worth calculations will also be modified to apply a zero-risk rating to PPP loans. Similarly, PPP loans pledged as collateral to the PPPLF will be excluded from total assets.
  • The asset threshold requirement for risk-based net worth has been changed from $50 million to $500 million.

What if COVID-19 disrupts a credit union’s ability to file its quarterly Call Report timely?

The NCUA and other federal banking agencies announced on March 25, 2020, that they will not take action against any institution for submitting its March 31, 2020 Call Reports after the respective filing deadline, as long as the report is submitted within 30 days of the official filing date. Credit unions are encouraged to contact the NCUA in advance of the official filing date if they anticipate a delayed submission. State-chartered credit unions should also contact their respective state regulator.

See: 1Q20 Call Report Deadline Extended (3/25/20)

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