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
FATF	Public Consultation Recommendation 16 on Payment Transparency	May 3, 2024

Recent News on our Competent Authorities

2023-05-30

Statistical release: BIS international banking statistics and global liquidity indicators released

The Bank for International Settlements issued its BIS locational banking statistics (LBS) on global liquidity indicators. The key findings of this report are as follows:

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Bank of International Settlements

Statistical release: BIS international banking statistics and global liquidity indicators released

2023-03-29

BIS's Project Nexus Prototype Successfully Links Eurosystem, Malaysia and Singapore Payments Systems

The BIS Innovation Hub Singapore Centre and partners announced the successful connection of the test versions of three established IPS using the Nexus model and outlined the next phase of the project to work on the real-world potential of a multilateral network that could be scaled up across more countries. The press release noted the following:

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Bank of International Settlements

BIS's Project Nexus Prototype Successfully Links Eurosystem, Malaysia and Singapore Payments Systems

2023-02-20

Aligning Operating Hours Across Jurisdictions Could Improve Cross-Border Payments

The Bank for International Settlements (BIS), Committee on Payments and Market Infrastructures (CPMI) released a report, Operational and technical considerations for extending and aligning payment system operating hours for cross-border payments: An analytical framework, to aid central banks and operators who plan to extend real-time gross settlement (RTGS) system operating hours with a systemic approach to render these services effectively. The report works in conjunction with the BIS May 2022 report, Extending and aligning payment system operating hours for cross-border payments. According to the report, “An extension and alignment of payment system operating hours across jurisdictions could help to speed up cross-border payments, especially between jurisdictions with significant time zone differences. It could also improve liquidity management, reduce settlement risk and enhance the performance of cross-border payment arrangements.”

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Bank of International Settlements

Aligning Operating Hours Across Jurisdictions Could Improve Cross-Border Payments

2023-01-24

BIS Bulletin Addresses Risks in Cryptocurrencies

The Bank for International Settlements issued its Bulletin entitled Addressing the risks in crypto: laying out the options to address the recent failures involving several major crypto firms. This issues has become increasingly pressing as these emerging markets are going through booms and busts. While they have not yet threatened financial stability the scale and prominence of these recent failures highlight the need to address the risks before crypto markets can evolve into systemic contagions.

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Bank of International Settlements

BIS Bulletin Addresses Risks in Cryptocurrencies

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

FSI Issues Insights on Supervisory Practices for Assessing Sustainability

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