National Credit Union Administration (NCUA) this morning proposed new rules for troubled debt restructurings that will cover how all federally insured credit unions account for delinquencies, charge-offs and income related to troubled home mortgages and member business loans, as well as for how those loans are reported on NCUA's quarterly Call Reports.

The proposal, issued for a brief 30-day comment period, will require all federally insured credit unions to develop written loan work-out policies that describe eligibility for loan modifications, limits on modifications, and the timely recognition of losses and of non-accruals.

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