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How to Report Revolving Lines of Credit (Extended)

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Question: 
I am trying to obtain a good definition and/or guidance on how to report Revolving Lines of Credit that have been extended and not renewed for a particular year. Example – A customer has a revolving line of credit for $250,000 that originally was executed in November 2014 and is up for renewal in November 2015, however the borrower has asked for a 3-month extension which the bank granted, the amount and conditions are unchanged. For 2015 reporting, can we/should we be reporting/treating the $250,000 as a renewal/extension that took place in 2015? Or not report it as it was an extension and not a renewal according to the CRA quidelines?
Answer: 

CRA does not determine reportability based upon how the extension was made. A modification/change in terms to extend a maturity date is reported just like an extension done by a new note. You should include that extension in your 2015 data.

First published on 10/01/2017

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