Skip to main content

NCUA - Changes Planned for Upcoming Call Reports

​Dear Board of Directors and Chief Executive Officer:
To more precisely measure each credit union’s financial condition, NCUA is planning several significant reporting changes to the 5300 Call Report and Profile. This letter describes additions and revisions scheduled for the next three Call Report cycles.1 We are providing notice well in advance to ensure you have sufficient time to prepare.  READ MORE > Pages   - Changes Planned for Upcoming Call Reports

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Without President’s Signature, ROAD to Housing Act Becomes Law; Includes CU Board Modernization Act

WASHINGTON — The bipartisan 21st Century ROAD to Housing Act became law Friday without President Donald Trump’s signature after the president allowed the measure to take effect while Congress remained in session, choosing not to sign it in protest over the Senate’s failure to advance separate voter identification legislation.  The legislation includes the Credit Union Board Modernization Act, which reduces the frequency with which credit unions must meet and which had strong support from the credit union trade groups.  Trump announced on social media that he would not sign the housing package because the Senate had not passed the SAVE America Act, a measure he has championed requiring proof of citizenship for voter registration. Under the Constitution, a bill becomes law if the president neither signs nor vetoes it within 10 days, excluding Sundays, while Congress is in session.  Scott Simpson ‘Steadfast in Commitment’ “America’s Credit Unions, our league partners, and cr...
Post a Comment
Read Complete Article HERE>»

Invest in Education - Invest in Tomorrow

 
Post a Comment
Read Complete Article HERE>»

Inflation Cools in June Report, But One CU Economist Says There’s One Reason–And it Could Change

WASHINGTON — U.S. consumer inflation cooled more than expected in June, offering relief after several months of elevated price pressures, though economists cautioned the improvement could prove temporary as renewed geopolitical tensions threaten to push energy prices higher. The Consumer Price Index fell 0.4% in June on a seasonally adjusted basis, the largest monthly decline since April 2020, after rising 0.5% in May, according to data released Tuesday by the Bureau of Labor Statistics . Compared with a year earlier, consumer prices rose 3.5%, down from 4.2% in May.  Foot off the Gas Dawit Kebede “Falling gas prices led June’s decline and pulled headline inflation lower year-over-year. Renewed hostilities could complicate the energy picture ahead, and a reversal in gasoline costs would be the most likely channel for that pressure to show up,” said America’s Credit Unions Senior Economist Dawit Kebede. “But softening core prices point to broader-based moderation, suggesting the ea...
Post a Comment
Read Complete Article HERE>»

What You Might Not Know About July 4th.

Post a Comment
Read Complete Article HERE>»

White Paper from WOCCU Examines How Stablecoins are Reshaping Financial Infrastructure

WASHINGTON– World Council of Credit Unions (WOCCU) has released a new white paper that examines how stablecoins are reshaping the financial infrastructure that credit unions and other cooperative financial institutions rely on to serve their members.  According to WOCCU, the white paper, How Digital Money Is Impacting Credit Unions, Part 1: Focus on Stablecoins , is the first in a planned three-part series exploring how emerging forms of digital money are affecting the global credit union movement.  “The report begins by noting that stablecoins are no longer a niche fintech development, but part of a broader structural shift in how money is stored, moved and regulated,” WOCCU explained. “As commercial banks, payment networks, technology firms and retailers build stablecoin offerings or integrate stablecoin rails into their platforms, credit unions must consider how these changes could affect deposits, payments, member relationships and long-term institutional relevance.” For ...
Post a Comment
Read Complete Article HERE>»

The FedNow Service will launch in 2023 "Are you ready?"

The FedNow Service is a new instant payment service that the Federal Reserve Banks are developing to enable financial institutions of every size, and in every community across the U.S., to provide safe and efficient instant payment services in real-time, around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments conveniently, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Consistent with the Federal Reserve’s historical role of providing payment services alongside private-sector providers, the FedNow Service will provide choice in the market for clearing and settling instant payments as well as promote resiliency through redundancy. Financial institutions and their service providers will be able to use the service as a springboard to provide innovative instant p...
Post a Comment
Read Complete Article HERE>»

The Federal Reserve has opted to make no changes in interest rates

WASHINGTON–The Federal Reserve has opted to make no changes in interest rates following the conclusion of its meeting here, but it has indicated it could move as soon as next month to cut rates if the United States and China isn’t able to find ways to resolve their trade dispute. As a result,  For now, the Fed left its short-term rate at a range of 2.25% to 2.5%. Eight of the 17 votings, Fed policymakers did predict there could be as a half percentage point decline in rates in 2019. In a statement following its meeting, the Fed did dial down a bit its forecast for the economy.   “In light of these uncertainties and muted inflation pressures, the FOMC will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labor market” and inflation near the Fed’s 2% goal,” the Fed said.  Fed Chairman Jerome Powell in recent interviews has expressed concerns over what he ...
Post a Comment
Read Complete Article HERE>»

New GDP Data is ‘Positive,’ Clouds Clearing, Says NAFCU Economist

WASHINGTON–Although discussion and forecasts continue to focus on a recession in the U.S. economy, economic growth remained solid at the end of 2022, according to new federal data. Curt Long The Commerce Department said U.S. gross domestic product, adjusted for inflation, increased at an annual rate of 2.9% in the fourth quarter of 2022, down slightly from a 3.2% growth rate in the Q3. Consumer spending grew at a 2.1% rate, according to the Commerce Department data, which will be revised at a later date. “The big picture view of economic growth in the fourth quarter is a positive one,” said NAFCU Chief Economist and VP-Research Curt Long. “Much of that grow...
Post a Comment
Read Complete Article HERE>»

Fed Chair Says Inflation To Hang Around a Bit Longer; New Beige Book Data Show Why

WASHINGTON–The chairman of the Federal Reserve told the House the current increase in inflation is temporary, although it will remain elevated in the months ahead before moderating. Fed Chairman Jay Powell’s comments before Congress came on the same day the Fed released its Beige Book analysis, which found an economy showing increasing strength, but also suffering shortages of many materials and manpower. During his testimony before House Financial Services Committee as part of his semiannual monetary policy report to Congress, which he will repeat today before the Senate, Powell said asset valuations have generally risen as the economy has improved and investor risk appetite has grown. “Household balance sheets are, on average, quite strong, business leverage has been declining from high levels, and the institutions at the core of the financial system remain resilient,” Powell said. What About Inflation? As for inflation, which is of conce...
Post a Comment
Read Complete Article HERE>»

Auto Lease Volume Should Steadily Increase This Year

By Ray Birch CINCINNATI—Credit unions should expect a U-turn in leasing penetration in 2024, as volume steadily increases, according to one analyst, who is crediting muted economic “turmoil” and consumers’ changing their perspective on car ownership for the shift. “First, I am predicting a relatively turmoil-free year,” Scot Hall, EVP at Swapalease.com , told CUToday.info. “Said differently, no pandemics, no supply chain issues, no strikes, and better general economic factors—lower inflation and improving interest rates. Moreover, dealerships seem to be able to get inventory in most cases.” Hall said leasing, much like the overalll economy itself, just had hurdle after hurdle to overcome during the last several years. “One of those, o...
Post a Comment
Read Complete Article HERE>»