Tuesday, June 9, 2020

June Call Report Changes Address COVID-19

The National Credit Union Administration has released information related to changes in its June call report.

The changes address issues associated with the COVID-19 pandemic.

For example, credit unions will be expected to report information on Small Business Administration (SBA) Paycheck Protection Program (PPP) loans, CARES Act forbearance loans, SBA PPP loans pledge as collateral to the Federal Reserve's Paycheck Protection Program Lending Facility (PPPLF), and Federal Reserve PPPLF loans.

There are also adjustments in total assets for calculating the net worth ratio and risk-based net worth requirement.

Read more.

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