New NCUA Rules Require Written TDR Policies, Ease Reporting Burdens: Onsite Coverage

ALEXANDRIA, Va. The NCUA Board extended regulatory flexibility standards but required written loan workout policies for troubled debt restructuring by Oct. 1.

By Heather Anderson | May 24, 2012 at 11:08 AM

ALEXANDRIA, Va. —The NCUA Board on Thursday extended regulatory flexibility standards to all credit unions, but willrequire written loan workout policies for troubled debt restructuring by Oct. 1.

However, credit unions scored a win in that TDRs will not berequired to be reported as past due until six consecutive timelypayments have been made. Instead, effective June 30, TDR past duestatus will now be calculated consistently with loan contractterms.

The NCUA also removed the requirement to manually trackTDRs.

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