Oct. 29, 2012 – NCUA plans to implement changes to the 5300 Call Report and Profile over the next three reporting cycles that will, among other things, include revisions related to the agency's rule on troubled debt restructurings.
As outlined in Letter to Credit Unions 12-CU-12, the changes begin with the December 2012 cycle and are aimed at more precisely measuring each credit union's financial condition. With this first 5300 revision, credit unions will no longer be required to report modified-loan information on the 5300; the modified-loan reporting requirements will be replaced with similar reporting exclusively on TDR loans.
Here’s a brief look at changes ahead for the following two reporting cycles:
- March 2013 cycle: There are several changes, the most significant of which involve the segregation of new and used vehicle loans from other loans on the delinquency, charge-off and recoveries schedules. Additional changes are being made to match the business-loan categories on Schedule A, Section 4 for business lending. The agency is also adding fields to the report to capture information on loans held for sale.
- June 2013 cycle: NCUA is revising the delinquent loan schedules on pages 7 and 8 of the call report to address the number of days loans are delinquent instead of months. This conforms 5300 reporting with that required by other regulators and eliminates confusion arising from differences in the number of days per month.
“We recognize this change may require modifications of your data-processing systems; therefore, we wanted to notify you now so you can work with your vendor to be ready by June 2013,” according to the letter, signed by NCUA Chairman Debbie Matz.
NCUA included the proposed form for the December 2012 cycle with Letter 12-CU-12. The changes await final approval of the Office of Management and Budget.