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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
European Commission Sustainable Finance - Environment, Social and Governance Ratings and Sustainability Risks In Credit Ratings June 6, 2022
European Commission Open Finance Framework - Enabling Data Sharing and Third Party Access in the Financial Sector June 7, 2022
European Commission Distance Marketing of Consumer Financial Services - Review of EU Rules June 25, 2022
Financial Stability Board Supervisory and Regulatory Approaches to Climate-Related Risks: Interim Report June 30, 2022
IFRS General Requirements for Disclosure of Sustainability-related Financial Information July 29, 2022
IFRS Climate-related Disclosures July 29, 2022
European Commission Payment Services - Review of EU Rules August 2, 2022
 

Recent News on our Competent Authorities

 

2022-04-26

FSB Publishes Report on Interaction Between USD Funding and External Vulnerabilities in EMEs

On April 26, 2022, the Financial Stability Board released a report, US Dollar Funding and Emerging Market Economy Vulnerabilities (EMEs), outlining its findings of work in collaboration with the IMF on the interaction between US dollar funding and external vulnerabilities in emerging market economies. The collaboration with the IMF is part of the FSB’s work programme on non-bank financial intermediation, intended to enhance the resilience of non-bank financial intermediation (NBFI).

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Financial Stability Board
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FSB Publishes Report on Interaction Between USD Funding and External Vulnerabilities in EMEs

2022-04-20

FSB Chair Drafts Letter to G20 Highlighting Financial Effects of Russian Invasion of Ukraine

On April 20, 2022, the Financial Stability Board (FSB) published a letter from its Chair, Klass Knot, to the G20 Finance Ministers and Central Bank Governors in preparation for a meeting that took place on the same day. The letter outlined the status of global financial stability as well as the FSB’s plans to address emerging vulnerabilities. The letter further discusses the effects of Russia’s invasion of Ukraine on the global financial market including large price fluctuations and “concerns about the growth and potential use of crypto-assets”; however, these effects are far exceeded by the impact of the COVID-19 pandemic. Still, the Russian invasion is concerning as it is triggering inflation, which could promote restrictive financing; additionally, growing vulnerabilities may begin to present themselves in a material way, for example, high debt levels within the non-financial sector, and stretched valuations.

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Financial Stability Board, G20
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FSB Chair Drafts Letter to G20 Highlighting Financial Effects of Russian Invasion of Ukraine

2022-04-04

Financial Stability Board Publishes Work Programme for 2022

On March 31, 2022, the Financial Stability Board (FSB) published the FSB Work Programme for 2022, which outlines priorities, new initiatives, continuing items or those reaching completion, regular monitoring and reporting, and key deliverables to the G20 Indonesian Presidency. Some of the FSB’s priorities and initiatives include:

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Financial Stability Board
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Financial Stability Board Publishes Work Programme for 2022

2022-03-22

FSB Releases Report on FinTech’s Impact During the COVID-19 Pandemic

On March 21, 2022, the Financial Stability Board (FSB) released a report entitled, FinTech and Market Structure in the COVID-19 Pandemic: Implications for financial stability. The key takeaway of the report credited the COVID-19 pandemic for the acceleration of digitization of retail financial services. The report also discussed individual engagement with “innovative financial service providers and traditional financial incumbents”; the expansion of BigTechs and larger FinTechs into financial services and the data gaps they present; and whether the benefits of digital acceleration during the pandemic will become structural or will “revert back” to pre-pandemic levels as the current conditions go back to normal.

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Financial Stability Board
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FSB Releases Report on FinTech’s Impact During the COVID-19 Pandemic

2022-02-17

FSB Chair Publishes Letter to the G20 Regarding 2022 Deliverables

In advance of a meeting set for February 17 through 18, 2022, the Financial Stability Board (FSB) published a letter from their chair, Klass Knot, to the G20 Finance Ministers and Central Bank Governors. The letter details the work the FSB is doing this year to promote sustainable growth and global financial resilience in response to continuing COVID-19 issues such as uneven recovery across regions, inflation and record-high global debt levels. The FSB credits “determined” policy response and G20 post-2008 crisis reforms for current recovery successes which include bank and market infrastructure resilience.

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Financial Stability Board, G20
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FSB Chair Publishes Letter to the G20 Regarding 2022 Deliverables

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