Call report changes and RBC, CCULR
Hello compliance land, this is my first “official” compliance blog since joining NAFCU’s compliance team last week. For the past few years, I have worked on the Regulatory Affairs side and have previously blogged on NAFCU’s advocacy work, but I am very excited to join this team! NAFCU previously blogged on the proposed changes to the Call Report. The Office of Management and Budget approved changes to Call Report Form 5300 back in January which become effective during the March 2022 reporting cycle. NCUA has been seeking to modernize its data collection processes since 2016 with its “Call Report Modernization” project. The changes to the Call Report increased the number of schedules from five to eight.
Overall, the changes:
- Improve the organization of the Call Report to better align the reporting of related information;
- Revise the Call Report instructions;
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