ALEXANDRIA, Va. — The National Credit Union Administration is proposing to require federally insured credit unions to report information about their payment stablecoin activities, adding a new schedule to quarterly call reports beginning with the March 31, 2027, reporting date.
The proposed revisions to Form 5300 would collect data on credit unions’ custody of stablecoin reserve assets, control of cryptographic keys, direct exposure to stablecoin issuers and stablecoins held on their balance sheets, according to the agency.
NCUA said the additional information would strengthen its offsite supervision. The agency is seeking public comment and submitting the revised form and instructions to the Office of Management and Budget for review and clearance.
New Stablecoin Schedule
The proposed Schedule J, Payment Stablecoin Activities, would add 26 reporting accounts across four categories:
- Eight accounts covering custody of reserve assets for third parties that are permitted payment stablecoin issuers.
- Nine accounts covering cryptographic key custody and control.
- Five accounts covering direct exposure to permitted payment stablecoin issuers.
- Four accounts covering payment stablecoins held on a credit union’s balance sheet.
Federally insured credit unions submit quarterly financial and statistical information through NCUA’s CUOnline portal. The agency said those reports support its supervision of federal credit unions and monitoring of institutions insured by the National Credit Union Share Insurance Fund.
Reporting Burden Estimate Increases
NCUA estimates 4,224 federally insured credit unions would respond to the information collection, with an average reporting burden of 47 hours per quarterly response and a combined annual burden of 794,112 hours.
The agency said it increased its estimated average reporting burden based on public feedback received through an April 2026 request for information on enhancing and streamlining credit union data collection.
The proposed stablecoin revisions would not materially affect those burden estimates, NCUA said.
Public Comments Sought
Comments will be due 60 days after the notice is published in the Federal Register. The proposal supplied by the agency does not specify a calendar deadline.
NCUA is seeking feedback on whether the proposed information would be useful and necessary, whether its burden estimates are accurate, how to improve the information’s quality and clarity, and how to reduce reporting burdens through automation or other technology.
Comments may be submitted through Regulations.gov by searching for “NCUA Call Report 2027-Q1,” or by email to [email protected]. Submissions should identify OMB Control Number 3133-0004 or the notice’s document number. The agency asked commenters to use only one submission method.
Comments will become public records and will be summarized in NCUA’s request for OMB approval.
