The NCUA has announced new call reporting requirements for credit unions that includes the recent troubled debt restructuring regulations and helps the agency keep closer tabs on delinquent auto and business loans.
Letter 12-CU-12, sent to federally insured credit union board members and CEOs, includes new changes that will be required each of three months: December 2012, March 2013 and June 2013. For the December 2012 call report, modified loan reporting requirements have been replaced with TDR reporting, per final rules adopted during the May NCUA board meeting.
In March, new reporting requirements will separate out delinquent new and used vehicle loans, as well as delinquent member and non-member business loans. Loans held for sale will also have their own field.
The NCUA said it will continue to collect delinquency, charge-off and recovery data on agricultural loans and business construction and development loans.
New reporting requirements for unfunded commitments, purchased credit impaired loans, investments, Equal Employment Opportunity filings, remittances, and grants will also be required during the first quarter 2013.
June’s new call reporting requirement will require credit unions to work with their data processing vendors to ensure loan delinquencies are reported in days, not months, as the NCUA has changed its categories. The change aligns the NCUA with other federal regulators, the agency said, and eliminates confusion arising from differences in the number of days per month.
Additional information and reporting instructions will be available on our website … in the coming months,” NCUA Chairman Debbie Matz said. The letter to credit unions, posted on the NCUA’s website, includes a sample of the December 2012 Call Report.