Workpapers and Resources

Federal Law

Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

• 4013, Temporary Relief from Troubled Debt Restructurings
• 4022, Foreclosure Moratorium and Consumer Right to Request Forbearance
• 4023, Forbearance of Residential Mortgage Loan Payments for Multifamily Properties with Federally Backed Loans

Federal Reserve Act 13(3), Discounts for individuals, partnerships, and corporations

Federal Credit Union Act

§ 1757(5), Authority to Make Loans

§ 1761b, Board of directors; meetings; powers and duties; executive committee; membership officers; membership application

§ 1761d, Supervisory committee; powers and duties; suspension of members; passbook

§ 1782, Administration of insurance fund

Title III, Central Liquidity Facility

NCUA Regulation

• 701, Appendix A, Federal credit union Bylaws, Article XI: Loans to Members and Lines of Credit

• § 701.21, Loans to members and lines of credit to members
  • § 701.21(c)(7)(iii), Payday alternative loans (PALs I)
  • § 701.21(c)(7)(iv), Payday alternative loans (PALs II)
  • § 701.36(c), Premises not currently used to transact credit union business
• § 701.22, Loan participations
• § 701.23(b), Purchase, sale, and pledge of eligible obligations – Purchase

• Part 702, Capital Adequacy

• § 702.2(k)(3), Definitions 
• § 702.104, Risk portfolios defined
• § 702.201, Prompt corrective action for “adequately capitalized” credit unions
• § 702.206, Net worth restoration plans
  • § 702.206(c), Contents of NWRP
• § 722.3(g), Deferrals of appraisals and written estimates of market value for certain residential and commercial transactions
• § 723.2, Definitions
• § 723.8, Aggregate member business loan limit; exclusions and exceptions

• Part 741, Requirements for Insurance

• § 741.3(b)(2)
• § 741.203, Minimum loan policy requirements
• Appendix B, Interpretive Ruling and Policy Statement on Loan Workouts, Nonaccrual Policy, and Regulatory Reporting of Troubled Debt Restructured Loans

NCUA Interpretive Ruling and Policy Statement

• IRPS 02-3, Allowance For Loan and Lease Losses Methodologies and Documentation For Federally-Insured Credit Unions

Supervisory Letters

• 09-03, Reviewing Adequacy of Earnings 

GAAP/FASB Rules

• ASC Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors
• ASC Subtopic 450-20, Loss Contingencies
• ASC Subtopic 310-10, Loan Impairment
• ASC Subtopic 326-20, Current Expected Credit Loss (CECL)

Interagency Guidance

• Interagency Advisory Addressing the ALLL Key Concepts and Requirements
• Interagency Supervisory Examiner Guidance for Institutions Affected by a Major Disaster
• Interagency Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Institutions
• Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised)
• Interagency Statement on Appraisals and Evaluations for Real Estate Related Financial Transactions Affected by the Coronavirus

• Interagency Lending Principles for Offering Responsible Small-Dollar Loans

NCUA Letters to Credit Unions

• 20-CU-02, NCUA Actions Related to COVID-19
• 20-CU-04, Responsible Small-Dollar Lending in Response to COVID-19
• 20-CU-08, Enhancements to Central Liquidity Facility Membership and Borrowing Authority
• 20-CU-09, Temporary Regulatory Relief in Response to the COVID-19 Pandemic
• 20-CU-11, Regulatory Treatment for Paycheck Protection Program Loans
• 20-CU-13, Working with Borrowers Affected by the COVID-19 Pandemic
• 09-CU-19, Evaluating Residential Real Estate Mortgage Loan Modification Programs
• 08-CU-01, Guidance on Pandemic Planning
• 06-CU-06, Influenza Pandemic Preparedness
• 01-CU-21, Disaster Recovery and Business Resumption Contingency Plans

NCUA Examiner's Guide

Loans - General Loan Review

Additional Resources

Federal Consumer Financial Protection Guide

NCUA Instruction 5000.20, Examination Scope