Share

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
European Commission Distance Marketing of Consumer Financial Services - Review of EU Rules June 25, 2022
IFRS General Requirements for Disclosure of Sustainability-related Financial Information July 29, 2022
IFRS Climate-related Disclosures July 29, 2022
Financial Action Task Force Call for advice to the European Banking Authority (EBA) regarding the review of Directive 2014/17/EU1 (Mortgage Credit Directive) August 1, 2022
European Commission Payment Services - Review of EU Rules August 2, 2022
European Commission Open finance framework – enabling data sharing and third party access in the financial sector August 2, 2022
Basel Committee on Banking Supervision Prudential Treatment of Banks' Cryptoasset Exposures September 30, 2022
 

Recent News on our Competent Authorities

 

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.

Tags
Bank of International Settlements
Read More
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.

Tags
Bank of International Settlements, Basel
Read More
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.”

Tags
Bank of International Settlements
Read More
Bank for International Settlements Releases Green Bond Fund for Asia

2022-02-16

The Basel Committee’s Oversight Body Renews its Commitment to Basel III Implementation

On February 9, 2022, the Basel Committee’s oversight body, the Group of Central Bank Governors and Heads of Supervision (GHOS), met to not only reappoint Pablo Hernández de Cos as Chair for a second term, but to reaffirm its “commitment to implementing all aspects of the Basel III framework”. The GHOS reviewed progress of the Basel III implementation process and pushed for implementation in “a full, timely and consistent manner to provide a regulatory level playing field for internationally active banks”; which was followed by full agreement from all members. Under the purview of the Regulatory Consistency Assessment Programme, the GHOS further obligated the Basel Committee to continue to monitor implementation of the framework. The GHOS is currently looking to fill its Chair vacancy as their previous Chairman, François Villeroy de Galhau, stepped down to accept his appointment as Chair of the Board of Directors of the Bank for International Settlements.

Tags
Bank of International Settlements, Basel
Read More
The Basel Committee’s Oversight Body Renews its Commitment to Basel III Implementation

2022-01-24

BIS CPMI report Highlights Rapid Development of Retail Fast Payments

The implementation of retail fast payment systems (FPS) across the globe is continuing at a rapid pace, with significant implications for incumbent real-time gross settlement (RTGS) systems, according to a report published today by the Bank for International Settlements' Committee on Payments and Market Infrastructures (CPMI).

Tags
Bank of International Settlements
Read More
BIS CPMI report Highlights Rapid Development of Retail Fast Payments

Visit the World Council Advocate Blog for More