Regulators Roundtable a Success in Its Expanded Format

(Rome, Italy) - The third annual Regulator's Roundtable meeting held on July 24 continued the success of the first two, drawing 26 credit union regulators from 13 countries, as well as representatives from the Bank for International Settlements (BIS) and The World Bank. Held on the first day of World Council of Credit Unions' (WOCCU) inaugural World Credit Union Conference, it was one of the least conspicuous, but possibly most significant, events of the four-day meeting.

Responding to the need for a discussion forum among international credit union regulators, WOCCU organized the event to discuss the Relationship Between Good Governance and Supervision; Secondary Capital; Risk Focused Exams and Credit Union Correction Methodology; The World Bank Policy Study of Credit Union Supervision; International Accounting Standards Issues and Updates, Basel II and Its Impact on Credit Unions; and BIS Core Principles for Banking Supervision and Their Applicability to Credit Unions. Between each of these brief presentations and during the last hour of the meeting the floor was opened for discussion.

This rare opportunity for exchange between regulators from countries as diverse as the Bahamas, India, Brazil and Australia proved successful for the third year in a row. As Dave Grace, WOCCU's senior manager of association services, said, "It was a day of fruitful discussion. I feel the participants gained a lot from each other in terms of envisioning where their industry needs to go." WOCCU looks forward to the continued growth of this important yearly discussion.

World Council of Credit Unions is the global trade association and development agency for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.

World Council has implemented more than 290 technical assistance programs in 71 countries. Worldwide, 51,000 credit unions in 100 countries serve 196 million people. Learn more about World Council's impact around the world at www.woccu.org.