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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
IFRS Proposals to Update Accounting Standards for SMEs March 7, 2023
 

Recent News on our Competent Authorities

 

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
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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
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FSI Issues Insights on Supervisory Practices for Assessing Sustainability

2022-05-23

Central Banks Highlight Ways to Tackle Post-Pandemic Private Debt Build-up

A new report from the Committee on the Global Financial System (CGFS), a central bank forum for examining risks to financial stability, hosted by the Bank for International Settlements, highlights that the rise in private sector debt during the Covid-19 crisis was associated with borrowing by weaker businesses and rapid house price growth. However, it finds that the importance of such debt vulnerabilities differs substantially across countries, depending on factors such as the strength of the economic recovery and the health of the financial system.  The report suggests ways that policymakers can tackle debt vulnerabilities in the uncertain post-pandemic macroeconomic environment.

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Bank of International Settlements
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Central Banks Highlight Ways to Tackle Post-Pandemic Private Debt Build-up

2022-03-03

Basel Committee Releases Newsletter on COVID-19 Related Credit Risk Issues

On March 2, 2022, the Basel Committee on Banking Supervision issued a newsletter on COVID-19 related credit risk issues they believe will be helpful to support the day-to-day activities of banks and supervisors. The newsletter addresses: the Committee’s intention to continue to assess credit risk and asset quality by maintaining their monitoring of bank practices, in addition to administering necessary provisions; observations from supervisors regarding policies and practices across banks' credit risk governance and credit risk models; and challenges to assessing the creditworthiness of borrowers due to the COVID-19 pandemic.

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Bank of International Settlements, Basel
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Basel Committee Releases Newsletter on COVID-19 Related Credit Risk Issues

2022-02-28

Bank for International Settlements Releases Green Bond Fund for Asia

The Bank for International Settlements (BIS) launched the Asian Green Bond Fund to aid green project finance investments within the Asia and Pacific region. The fund will support environmental projects such as renewable energy production and energy efficiency within this region. The open-ended, USD-denominated fund was developed with the assistance of the BIS Asian Consultative Council and in collaboration the Asian Development Bank, development financing community, and other stakeholders. Generally, the fund will help channel central bank reserves to green projects in the Asia and Pacific region. Since 2019, BIS has launched two other green bond funds totaling $3.5 billion in green bond funds for central banks and “other official sector investors.”

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Bank of International Settlements
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Bank for International Settlements Releases Green Bond Fund for Asia

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