Success!! NCUA re-releases 4Q data

Chip Filson wrote on CreditUnionsRising.com "The incoming NCUA Chair faces many challenges. Restoring financial integrity to the call report process is an immediate one. In a dramatically increased uncertain world, the new Chair can be sure of two things: first, losses and therefore asset values, will be hard to estimate for quite some time; and second, capturing these elusive values thru the call report process will continue to be problematic.

New approaches and better action steps to handle both valuation and accounting treatment of loss estimates are needed. To date, NCUA has handled neither well. There will, however, be opportunities to improve the current situation and define new approaches in the months ahead.

The immediate issue is understanding how the uncertainty and muddied waters now surrounding the call reports occurred."

We submitted a FOIA request to NCUA to re-release the data and almost 100 peer-users supported this effort by emailing NCUA their support of this effort. Now, the first step has been taken. NCUA has re-released 4Q data with all of the refiled reports. The software is preparing this data file for use in Peer so you can also have access to the complete data. More information to be sent later this week.

Tomorrow...back to custom graphing!