NCUA asking for new call data

<p>ALEXANDRIA, Va – NCUA will ask credit unions for new and different information on its 5300 Call Report in 2002, a recent letter from Dennis Dollar, Chairman of the NCUA board said. The principle changes have to do with asking for more data from credit unions on loans they hold for sale, indirect loans, investment information and brokered deposits. NCUA requested the information on loans held for sale in order to remain compliant with Generally Accepted Accounting Practices (GAAP), according to Todd Roscoe, a data analysis officer for NCUA. “NCUA is required in statute to be GAAP compliant, so we are pretty much locked into it,” Roscoe said. Requesting the information about indirect loans granted came out of committee on the call report that NCUA shares with state supervisors. As the volume of used car loans has risen steadily NCUA has become more interested in keeping track of that data, Roscoe said. The information NCUA decided to seek about securities was an attempt to help credit unions complete the form without making errors in the securities reporting, Roscoe said. The agency decided to clarify some of its categories to make sure all the numbers add up, he said. Roscoe wasn’t sure how many credit unions actually use brokered deposits but suggested that some credit unions that had recently failed had been using brokered deposits. Gramm calls for independent body to set accounting standards</p>