SCHEDULE RC-N - PAST DUE AND NONACCRUAL LOANS, LEASES, AND OTHER ASSETS - General Instructions and Definitions

Sep 16, 2026

Schedule RC-N provides reporting requirements for loans, leases, debt securities, and other assets that are past due or in nonaccrual status on a fully consolidated basis. Institutions must report the balance sheet amount of the asset without deducting allowances for credit losses, and report amounts net of unearned income. The schedule includes GNMA-specific treatment, addressing rebooking and past-due reporting for delinquent rebooked or purchased GNMA loans. It also defines past due using contractual repayment terms and outlines criteria across installment, open-end, single-payment, and overdraft arrangements.

LanguageEnglish

CategoryForms

FormatPDF

Pages17

Reading Time6 min

AccessFree to download

General Instructions

Reporting scope and consolidation

Measurement and netting requirements

GNMA loans guidance

Definitions

Past due status determination

Delinquency criteria by credit type

Partial payment recognition methods

SCHEDULE RC-N – PAST DUE AND NONACCRUAL LOANS, LEASES, AND OTHER ASSETS General Instructions Report on a fully consolidated basis all loans, leases, debt securities, and other assets that are past due or are in nonaccrual status, regardless of whether such credits are secured or unsecured and regardless of whether such credits are guaranteed or insured by the U. S. Government or by others. For assets that are past due or in nonaccrual status, institutions should report the balance sheet amount of the asset in Schedule RC-N without deducting any applicable allowance for credit losses, not simply the asset’s delinquent payments. For example, the amount to be reported in Schedule RC-N for a past due or nonaccrual loan held for investment should equal the amount at which the loan is reported in Schedule RC, Balance Sheet, item 4. b, “Loans and leases held for investment.” The amount to be reported in Schedule RC-N, item 10, for a past due or nonaccrual held-to-maturity debt security should equal the amortized cost at which the debt security is reported in Schedule RC-B, Securities, column A. Loan amounts should be reported net of unearned income to the extent that they are reported net of unearned income in Schedule RC-C. All lease, debt security, and other asset amounts must be reported net of unearned income. For purposes of these reports, “GNMA loans” are residential mortgage loans insured or guaranteed by the Federal Housing Administration (FHA), the Department of Agriculture Rural Development (RD) program (formerly the Farmers Home Administration (FmHA)), or the Department of Veterans Affairs (VA) or guaranteed by the Secretary of Housing and Urban Development and administered by the Office of Public and Indian Housing (PIH) that back Government National Mortgage Association (GNMA) securities. When an institution services GNMA loans after it has securitized the loans in a transfer accounted for as a sale, ASC Topic 860, Transfers and Servicing, requires the institution to bring individual delinquent GNMA loans that it previously accounted for as sold back onto its books as loan assets when, under the GNMA Mortgage-Backed Securities Guide, the loan meets GNMA's specified delinquency criteria and is eligible for repurchase. This rebooking of GNMA loans is required regardless of whether the institution, as seller-servicer, intends to exercise the repurchase (buy-back) option. A seller-servicer must report all delinquent rebooked GNMA loans that have been repurchased or are eligible for repurchase as past due in Schedule RC-N in accordance with their contractual repayment terms. In addition, if an institution services GNMA loans, but was not the transferor of the loans that were securitized, and purchases individual delinquent loans out of the GNMA securitization, the institution must report the purchased loans as past due in Schedule RC-N in accordance with their contractual repayment terms even though the institution was not required to record the delinquent GNMA loans as assets prior to purchasing the loans. Such delinquent GNMA loans should be reported in items 1.c, 11 , and 11. b of Schedule RC-N. Definitions Past Due – The past due status of a loan or other asset should be determined in accordance with its contractual repayment terms. For purposes of this schedule, grace periods allowed by the bank after a loan or other asset technically has become past due but before the imposition of late charges are not tobe taken into account in determining past due status. Furthermore, loans, leases, debt securities, and other assets are to be reported as past due when either interest or principal is unpaid in the following circumstances: (1) Closed-end installment loans, amortizing loans secured by real estate, and any other loans and lease financing receivables with payments scheduled monthly are to be reported as past due when the borrower is in arrears two or more monthly payments. (At a bank's option, loans and lea

FAQs

What credits must be reported in Schedule RC-N as past due or nonaccrual?

Report loans, leases, debt securities, and other assets that are past due or in nonaccrual status on a fully consolidated basis, regardless of collateral, or whether guaranteed or insured.

Should Schedule RC-N amounts be reported net of allowances for credit losses?

No. Institutions report the balance sheet amount of the asset in Schedule RC-N without deducting any applicable allowance for credit losses.

How is “past due” determined for different loan and asset types?

Past due status is determined by contractual repayment terms, with specific triggers such as arrears of two or more monthly payments for closed-end installment loans, missed minimum payments for revolving credit, and generally 30+ days overdue interest or principal for other instruments.

Sep 16, 2026

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