What’s New?

Call Report Changes for December 2020

The December 2020 Call Report includes changes to align the Coronavirus Aid, Relief, and Economic Security (CARES) Act delinquency reporting with industry standards and clarify reporting expectations.

Changes include:

• Modified page 6 of the Call Report to clarify that loans modified consistent with Section 4013 of the CARES Act are expected to be reported in CV0001 and CV0002. Loan modifications include forbearance, an interest rate modification, and any other similar arrangement that defers or delays the payment of principal or interest.
• Modified the Call Report Instructions for the CARES Act section of page 6 of the Call Report to align delinquency reporting of loans modified under the CARES Act to industry standards. For the loans modified under the CARES Act:
  • If the loan was delinquent before the modification, maintain that delinquency status and continue to report the loan in the appropriate delinquency days-late category on the Delinquency schedule (pages 8 or 9) until the end of the modification period.
  • If the loan is current or brought current during the modification period, do not report these loans on the Delinquency schedule (pages 8 or 9).
• Modified the Call Report Instructions for page 6, line 18a1 to clarify that Small Business Administration Paycheck Protection Program loans are by definition not commercial loans, see the NCUA regulation §723.2, Definitions (opens new window), for the Commercial Loan definition.