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Deadline Today to Comment on NCUA Call Reports, Profile Content Modernization
Monday, August 15, 2016 7:00 AM

Today, Aug. 15, is the deadline for credit unions to comment on how NCUA call reports and profile content might be improved. It's not too late to get those letters in before close of business today. Cornerstone thanks those credit unions who have already provided feedback.

Cornerstone's Suzanne Yashewski, SVP regulatory compliance counsel, has submitted Cornerstone's comment letter, which you can view here. It addresses the stakeholder areas referenced below.

Credit unions are requested to refer to this NCUA document for details on how to file their comments about the following:

  • What specific areas are challenging when using the Call Report and Credit Union Profile?
  • What sections or items could be made optional for small or non-complex credit unions without compromising the agency’s ability to assess risk in these institutions?
  • What items could be added to the reports to enhance the agency’s analysis of the system’s performance trends?
  • What areas of regulatory reporting align with a credit union’s internal accounting and what areas do not?
  • How might the Call Report and Credit Union Profile be reorganized to reduce credit unions’ reporting burden?
  • What additional suggestions or ideas do credit unions have for collecting financial and non-financial information?

“To date, we have received some feedback that the reporting of delinquent loans may appear distorted due to the structure of the call report," Yashewski says. "The call report can trigger inquires by your examiner and other regulators, so it is important for this reporting tool to provide a clear picture.”

If you have questions, please contact Yashewski at syashewski@cornerstoneleague.coop.