Comments & Position Papers

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Basel Committee on Banking Supervision

Global Systemically Important Banks – Revised Assessment Framework

World Council opposes the Basel Committee’s proposal to create a new liquidity indicator for global systemically important banks’ (G-SIBs) short-term wholesale funding. If finalized as proposed, a new shot-term wholesale funding indicator for G-SIBs would likely increase the reserve requirements of G-SIBs that have community-based financial cooperatives as depositors and therefore reduce the yields that financial cooperatives receive on their investments in bank deposits.
(2017-June-29)

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Financial Action Task Force (FATF):

Comments on the Draft Guidance for Private Sector Information Sharing

WOCCU urged FATF to make numerous changes to ease the burden on credit unions and to streamline the AML/CFT framework surrounding information sharing.
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(2017-July-31)

International Accounting Standards Board (IASB)

IFRS 9 Loan Loss Accounting for Cooperative Financial Institutions

World Council comments to IASB regarding their International Financial Reporting Standard (IFRS) 9 Financial Instruments
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(2016-12-19)

 


Global Partnerships for Financial Inclusion

Global Standard Setting Bodies and Financial Inclusion

World Council comments to GPFI regarding their Global Standard-Setting Bodies and Financial Inclusion: The Evolving Landscape
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(2016-Jan 29)

U.S. Internal Revenue Service

World Council and CUNA jointly support S. 869 and H.R. 2054

which repeals burdensome requirements created by the Foreign Account Tax Compliance Act (FATCA)
Letter to Representative Mark Meadows
Letter to Senator Rand Paul
(2014-July 18)

Residence Based Taxation and the Foreign Account Tax Compliance Act (FATCA)

Credit Union National Association and World Council endorse Foreign Account Tax Compliance Act (FATCA)
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(2014-July 18)

Proposed Regulation to Implement the Foreign Account Tax Compliance Act (FATCA)

World Council comments on the US IRS notice of proposed rulemaking to implement the Foreign Account Tax Compliance Act (FATCA)
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(2012-April 30)

Financial Stability Board

Adequacy of loss-absorbing capacity of global systemically important banks in resolution

World Council comments to the Financial Stabilty Board regarding their Adequacy of loss-absorbing capacity of global systemically important banks in resolution consultative document
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(2015-Feb 2)

National Credit Union Administration

Advance Notice of Proposed Rulemaking for Supplemental Capital

World Council comments to NCUA regarding Rulemaking for Supplemental Capital.

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