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March 6, 2009 - The National Credit Union Administration (NCUA) made changes to its Call Report so that credit unions can demonstrate a more accurate representation of expenses related to the corporate stabilization efforts.
The revised 5300 Call Report now includes a separate line item on the Income Statement to show expenses resulting from the NCUA’s recent efforts to stabilize the corporates. The new line item details net income before and after the expense. Two new accounts are included in the revised call report: NCUSIF Stabilization Expense, Account 311 and Net Income (Loss) before NCUSIF Stabilization Expense, Account 660A. These additions will permit Call Report users to better understand the impact of the stabilization efforts on the credit union.
To read more, visit NCUA’s Web site by clicking here.
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