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View All Comment Letters and Position Papers

Pending Comment Letters

Your comments are extremely important to us to provide the best response by WOCCU to these regulatory proposals.

Listed below are all pending regulatory actions for which WOCCU intends to submit a Comment Letter. The listed date is the date by which Comments are due to the respective agency.  All Comment Letters filed by WOCCU can be viewed on the Comments & Position Papers tab. Comments filed by the European Network of Credit Unions can be found here.

Please be sure to provide us with your comments in advance of the Due Date so that we may include them in our Comment Letter.


Agency Pending Comment Letters Due Date
Basel Committee on Banking Supervision Prudential Treatment of Banks' Cryptoasset Exposures September 30, 2022
IFRS Proposals to Update Accounting Standards for SMEs March 7, 2023
 

Recent News on our Competent Authorities

 

2022-09-26

WOCCU Urges Flexibility to FSB for COVID-19 Exit Strategies

WOCCU urged the Financial Stability Board to provide maximum flexibility to national level regulators in the withdrawal of relief measures implemented during the COVID-19 pandemic.  The comments cam as part of the Financial Stability Board’s (FSB) consultative report on the Exit strategies to support equitable recovery and address effects from COVID-19 scarring in the financial sector.

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Financial Stability Board
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WOCCU Urges Flexibility to FSB for COVID-19 Exit Strategies

2022-09-15

Basel Committee Meets to Discuss Basel Framework and Continuous Work on Climate-Related Risks

On July 14-15, 2022, the Basel Committee held a meeting to discuss several issues including, but not limited to: necessary measures to address climate-related financial risks, risks and vulnerabilities within the global banking system, additional empirical analyses on buffer usability and cyclicality in the Basel framework (the Committee plans to publish an evaluation report), and the approved results of the annual assessment exercise for globally systemically important banks (G-SIBs). The global banking system is currently enduring inflation and other growth inhibiting factors, and the Committee met to discuss its effects. The Committee believes that banks have been resilient due the success of its Basel II reforms and emplore banks and supervisors to "remain vigilant". Moreover, as a follow up to its interim evaluation report in 2021, on early lessons from the Covid-19 pandemic, the Committee plans to release a second report before the G20 Leaders' Summit, taking place in November of this year. In addition to this report, the Committee approved the results of its annual assessment exercise for G-SIBs, which will be submitted to the Financial Stability Board before it publishes a list of G-SIBs for 2022. Most notably, the Committee discussed the assessment and development of “a suite of potential measures – spanning disclosure, supervisory and/or regulatory measures – to address climate-related financial risks to the global banking system.”

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Basel
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Basel Committee Meets to Discuss Basel Framework and Continuous Work on Climate-Related Risks

2022-08-29

FSI Issues Insights on Supervisory Practices for Assessing Sustainability

Financial Stability Institute (FSI) of the Bank for International Settlements (BIS) issued its Financial Stability Insights report on the supervisory practices for assessing the sustainability of banks’ business models

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Bank of International Settlements
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FSI Issues Insights on Supervisory Practices for Assessing Sustainability

2022-08-29

FSB Issues Letter to G20 Finance Ministers

The Financial Stability Board (FSB) issued its letter to the G20 which is meeting during a time of growing financial stability challenges.  The G20 will have its Leaders’ Summitt in Indonesia in November.

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Financial Stability Board
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FSB Issues Letter to G20 Finance Ministers

2022-08-29

FSB Issues Progress Report on Climate Roadmap

The FSB issued the FSB Roadmap for Addressing Financial Risks from Climate Change: 2022 progress report noting that policy action to address such risks is more urgent than ever. The report notes the increased frequency and intensity of extreme weather and climate-related events, and the intense debate about current and future energy policies in many jurisdictions, highlights that financial risks related to climate change, including transition risks, are not just a long-term issue or tail event.

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Financial Stability Board
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FSB Issues Progress Report on Climate Roadmap

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