As urged by WOCCU, Basel Committee on Banking Supervision revised the leverage ratio treatment of client cleared derivatives to generally align it with the standardized approach measuring counterparty credit risk exposures (SA-CCR) as used for risk-based capital requirements.
World Council of Credit Unions (WOCCU) urged the Financial Action Task Force (FATF) to embrace proportionality in the application of anti-money laundering/countering the financing of terrorism (AML/CFT) regulations.
WOCCU urged the Basel Committee on Banking Supervision to provide additional guidance in the form of a set of high-level principles or weighing-factors on when less complex regulatory approaches can be warranted for credit unions.
WOCCU urged the Financial Stability Board (FSB) to continue with proportionality efforts in light of the voluminous regulatory reforms adopted since the financial crisis.
