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NCUA Announces Q2 and Q3 Extended Call Report Deadlines
Wednesday, May 25, 2016 6:35 AM

NCUA announced Monday that second-quarter Call Reports will now be due on Monday, July 25, by 11:59:59 p.m. instead of Friday, July 22. Third-quarter Call Reports will be due on Monday, Oct. 24, by 11:59:59 p.m. instead of Friday, Oct. 21. 

NCUA indicated that the moves are the first step of the overall effort to improve the Call Report process.

"As we discussed at last week's open board meeting, moving the call report filing deadline back is a first step in (the) NCUA's overall effort to improve data collection," NCUA Board Chairman Rick Metsger said. "In 2014, we moved to a new filing deadline that is generally the fourth Friday of the month following the end of each quarter. That gave credit unions an average of six additional days to file. We're giving credit unions a little more leeway for the next two quarters as we complete our study on a future deadline closer to the commercial bank deadline that preserves the key role (the) NCUA's examiners fill in the validation process."

At its May open Board meeting, NCUA announced the agency will conduct a comprehensive review and modernization of Call Report and Credit Union Profile content. NCUA will gather information through a public comment-and-review process and will create an internal working group that will consult with stakeholders. The process could also include online surveys, focus groups, workshops and other forums.

The agency will publish a request for information in the Federal Register in the near future, seeking public comments. Those comments must be received within 60 days of publication.