Proposed call report changes add stablecoin account codes.

Proposed changes to the NCUA’s 5300 Call Report published Friday would create new account codes for reporting stablecoin-specific information. Comments are due to the NCUA by Dec. 8, 

The notice summarizes four categories of data collection, adding:

• Eight new accounts for reporting custody of reserve assets for permitted payment stablecoin issuer (PPSI) third parties. 
• Nine new accounts for reporting cryptographic key custody and control. 
• Five new accounts for reporting direct exposure to PPSIs. This information will enhance NCUA’s off-site supervision. 
• Four new accounts for reporting payment stablecoins held on the credit union’s balance sheet.

The NCUA indicates this information will enhance the agency’s offsite supervision.

The proposed changes would result in quarterly data collection, a move that is expected to align with publication of final rules to implement the GENIUS Act for credit unions. However, it does not preclude the possibility of additional reporting obligations which are present in the NCUA’s stablecoin proposal. America’s Credit Unions will remain engaged with the NCUA as it finalizes its stablecoin rulemakings. 

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