Call reports for federally insured credit unions will be expanded in the first quarter of 1995.

The National Credit Union Administration is revising its quarterly reports to cover new accounting rules and new risks. The reports also will cover transactions with subsidiaries and expansions.

Most of the changes are linked to the NCUA's adoption of the Financial Accounting Standards Board's mark-to-market rule, known as FAS 115, said Herb Yolles, the agency's director of risk management. Credit unions must be in compliance by Jan. 1.

"We want to track the impact of FAS 115 on credit unions," he said.

The new call reports will contain a line for reporting accumulated gains or losses on "available-for-sale" securities, according to an NCUA letter sent last week to all federally insured credit unions. The call reports also will contain a section for reporting the aggregates of securities in three categories: held to maturity, available for sale, and trading.

Mortgage derivatives that are considered high-risk securities will be added to call reports as well.

The NCUA recently has forced credit unions to divest such investments.

"It's an area of general concern," Mr. Yolles said.

The call report will require state-chartered credit unions to report the amount of investments they hold that are prohibited by the Federal Credit Union Act. State-chartered institutions currently report how much they reserve for those investments, not the size of the portfolio.

Institutions will have to start detailing their relationships with credit union service organizations, which are subsidiary companies that participate in businesses prohibited for credit unions, such as brokering.

"We're trying to gauge the extent of activity" with the organizations, Mr. Yolles said.

The reports also will track whether credit unions have been using the streamlined expansion procedures the NCUA board approved this summer.

Federally chartered credit unions will report how many occupational groups, new members, and potential members they have added year-to-date.

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