Friday, January 26, 2018

NCUA Proposed Changes to Its Call Report

The National Credit Union Administration (NCUA) is proposing to modernize its Call Report, so as to reduce reporting burdens.

The current Call Report has 1,523 account codes.

According to the new prototype Call Report, NCUA is proposing to eliminate 1,017 account codes, as most of the account codes are no longer needed.

NCUA will add 413 new account codes. Most of the new account codes are associated with ASC Topic 326, Financial Institutions Current Expected Credit Losses, and the new risk-based capital rule, which is scheduled to go into effect on January 1, 2019.

As a result, the total number of account codes in the new prototype Call Report will fall by almost 40 percent to 919.

NCUA will also reorganize Schedules and improve Call Report instructions.

In addition to modernizing its Call Report, NCUA plans to streamline its credit union Profile Form.

NCUA is seeking comments on these proposed changes and poses seven questions for commenters.

Go to NCUA's Call Report Modernization webpage to view proposed changes.

Call Report and Profile slideshow.

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