# Participation Desk · Method

how the market map is built from one-sided filings.

Live page: https://getbookiq.com/participation-desk/#method

---

FIELD MAP
FIGURE	NCUA ACCOUNT CODES
Purchased / sold year-to-date, all types	690 / 691 (FS220C)
Outstanding purchased / sold-retained	691L / 691N (FS220G)
By collateral type, flows	SL0037-SL0059 (FS220Q)
Participation charge-offs / recoveries	550F / 551F (FS220C)
Context ratios	025B/018 loans-to-shares · 997 net worth · risk score from the cu-intel panel
HONESTY NOTES

Counterparties are never disclosed. This desk shows each institution's own filed activity. It cannot and does not say who traded with whom.

Flows are annualized from year-to-date figures (Q1 x4, Q2 x2, Q3 x4/3, Q4 x1). First-quarter run rates are the noisiest.

Reconciliation. Outstanding purchased (691L) totals $68.2B at 2026-03 for federally insured filers. NCUA's chart pack shows $84.9B for all participation categories; the difference sits in commercial construction-and-development and related fields outside 691L's type splits. Our figure is the conservative floor.

A screen is a question. "Likely seller" means the filings show pressure or habit, not intent. Population: federally insured credit unions only (4,250 at 2026-03); privately insured filers are excluded.

Refresh: run NCUA Analysis/tools/build_participation.py after each new quarterly zip lands, bump DV in this file, redeploy.