NEWS: Following the NCUA Board’s approval of a final rule that simplifies the risk-based capital requirements for eligible, complex credit unions, and as part of its Call Report Modernization Initiative, the NCUA has modified the Call Report, Form 5300, beginning with the March 2022 reporting cycle.
The documents can be viewed on the NCUA’s Call Report Modernization webpage.
Launched in 2016, the NCUA Call Report Modernization Initiative examined how changes to the agency’s data collection practices could enhance the value of the data NCUA collects from credit unions for offsite monitoring and pre-examination planning as well as reduce the reporting burden for credit unions where appropriate. The initiative complements the NCUA’s Enterprise Solution Modernization Program, which is modernizing the systems the NCUA uses as part of its examination program.
What’s new
The Call Report changes are significant, eliminating obsolete reporting items and building out current reporting to accommodate enhanced risk-based capital (RBC) ratio calculation.
This is the first substantial overhaul of the Call Report since 2013.
This article by Wipfli does a nice job of summarizing the Call Report changes. It explains:
The NCUA has published a Catalog of Account Codes that indicates more than 500 new/new-replaced account codes were added, close to 600 account codes were retired or replaced and close to 400 account codes were relocated within the reporting form. The account coding changes will impact any automated routine or mapped reports.
Mapping used to complete the December 2021 Call Report will no longer be usable to complete the March 2022 Call Report. The changes approved in December 2021, and effective March 31, 2022, mean that core providers, vendors and other preparation tool providers are working diligently to update reporting in time to meet the reporting deadline.
This reporting cycle will require more time and resources than usual to address the changes. We recommend identifying and having resources available to assist with implementing changes to obtain and process required information.
Register for Feb. 10 NCUA webinar
Credit unions can get valuable information on changes to the NCUA’s Call Report Form 5300 during an upcoming webinar hosted by the NCUA on Thursday, Feb. 10.
Staff from the NCUA’s Office of Examination and Insurance will cover Call Report changes for natural person credit unions effective with the March 2022 reporting cycle, including new schedules for risk-based capital and the Complex Credit Union Leverage Ratio (CCULR), which became effective in January.
Registration for the “Call Report Changes” webinar is now open. The webinar is scheduled to begin at 1 p.m. Central and will run for approximately 90 minutes. Participants will be able to log into the webinar and view it on their computers or mobile devices using the registration link. They should allow pop-ups from this website.
Participants can submit questions anytime during the presentation or in advance by email. The email’s subject line should read, “Call Report Changes.” Please email technical questions about accessing the webinar here.
This webinar will be closed captioned and archived online approximately three weeks following the live event.