TDR Call Report Changes Detailed in NCUA Letter
One such change, as detailed in the letter to credit unions (12-CU-12), will mean credit unions will no longer need to report modified-loan information on their 5300 call reports, starting with the Dec. 31, 2012, call report cycle. Instead, they will be required to report information on their TDR loans, the NCUA said.
The NCUA said this change will impact the delinquency, charge-off and recovery, and specialized-lending schedules.
The agency in the letter detailed pending changes to the March 2013 call report and profile. Among those changes are new data field categories for delinquencies related to:
- Member business loans secured by real estate;
- Member business loans not secured by real estate;
- Nonmember business loans secured by real estate; and
- Nonmember business loans not secured by real estate.
New sections for data on loans held for sale and unfunded commitments for business-loan categories were also added for the March 2013 call report period. Changes to sections addressing purchased credit impaired loans, investments, Equal Employment Opportunity Commission filing requirements, remittance transfers and grants have also been added, the NCUA said.The NCUA also released revised delinquent loan schedules that will take effect beginning with the June 2013 call report cycle. Specifically, the NCUA said the changes clarify reporting requirements by changing delinquency categories from "months" to "days." These changes are meant to align the NCUA's reporting standards with those of other federal regulators, and to eliminate confusion arising from differences in the number of days per month.
The new NCUA TDR rules allow credit unions to modify TDR loans without having to immediately classify those loans as delinquent. The rules also set consistent standards for the management of loan workout arrangements that assist borrowers, and eliminate confusion between TDRs and other loan modifications.
For the full NCUA letter to credit unions, click here.