Call Report Changes: Frequently Asked Questions

1Q23 Call Report Changes

Summary of Changes

• NCUA Updates: The NCUA approved minor revisions in 1Q23, primarily related to new CECL regulations.
• Code Changes: Removal, addition, and modification of 55 account codes.
• Reporting Structure: Adjustments made to align with CECL implementation.

For the complete list of changes, visit the NCUA website.

Impact on Callahan’s Benchmarking Tools

Automatic Updates: Built-in displays, Smart Codes, and built-in formulas, in Peer Suite and Peer Classic have been updated by Callahan analysts.

Custom Content: If you’ve created custom content included displays and peer groups using custom formulas, you’ll need to review and update these manually to ensure accuracy.

1Q22 Call Report Changes

Summary of Changes

• Major Revisions: Starting in 1Q22, the NCUA introduced major revisions as part of the Call Report Modernization Project.
• Extensive Code Overhaul: Over 1,000 account codes were added, modified, or retired.
• Reorganization: Significant restructuring of most sections of the Call Report.

Impact on Pre-Built Displays

• Updates in Peer Suite and Classic Peer: Many pre-built displays have been updated to reflect these changes.
• Retired Displays: Some displays will no longer report data beyond Q4 2021.
• New Displays Introduced: These include:
  • New Breakdowns in Indirect Lending
  • Commercial Lending Asset Quality Metrics
  • New Investment Portfolio Breakdowns
  • Risk-Based Capital (RBC) and Complex Credit Union Leverage Ratio (CCULR) benchmarking displays

Impact on Callahan’s Benchmarking Tools

Automatic Updates: Built-in displays, Smart Codes, and built-in formulas, in Peer Suite and Peer Classic have been updated by Callahan analysts.

Custom Content: If you’ve created custom content included displays and peer groups using custom formulas, you’ll need to review and update these manually to ensure accuracy.

Frequently Asked Questions

We’ve put together answers to some of your common questions about call report changes.

Will Callahan’s updates be in both Classic Peer and Peer Suite?

• Built-In Content: Automatically updated by Callahan Analysts in both Classic Peer and Peer Suite.
• Custom Content: Must be updated manually by users.

How are Callahan’s Smart Codes affected?

Smart codes have been updated by our expert team.

What if I can’t remember the old codes I need for my analysis?

• Helpful resources: 5300 Call Report Resources
  • Latest 5300 Call Report
  • Latest 5300 Call Report Changes
  • Historical 5300 Call Reports

And the previous call reports can always be found on the NCUA’s website for your reference: https://www.ncua.gov/analysis/credit-union-corporate-call-report-data/call-report-forms-instructions-archive.

The call report has changed so much. How do I know if they have the codes I need?

• Searchability:
  • Call reports are available as fully searchable PDFs.
  • Use the search function (CTRL+F) to locate specific codes.
  • Alternatively, use the universal search bar in Classic Peer or the Formula Wizard in both Classic Peer and Peer Suite.

This pre-built display looks wrong. What happened?

While all pre-built displays have been updated in Peer, some of the NCUA’s changes prevent some metrics from aligning exactly quarter-over-quarter. Because of this, trending certain metrics may not work perfectly between Q4 2021 and Q1 2022 OR between 4Q22 and 1Q23 . Callahan has matched pre-built formulas to the best of our ability given the changes. If you believe a formula could be built more accurately, please let us know!

My custom displays are no longer trending correctly. What happened?

The modifications of the 5300 Call Report in 2023 changed a few formulas as many were added, retired, or modified. While we worked to address this in the built-in displays, we are unable to do the same for custom displays due to their sheer quantity and the subjectivity of some of the reporting changes. Additionally, please reach out to your Callahan Account Manager for information on utilizing Analyst Hours to have us update your displays on your behalf.

How will displays track over time?

Although many codes are being retired or replaced, you’ll still be able to perform historical analyses. When a code is not in an “active cycle” – a quarter where the code did not exist on the call report – it reports a value of zero in Peer. By combining related active and retired codes into the same formula, you will be able to pull data from a range of quarters.