The Basel Committee on Banking Supervision has released the final version of its interest rate risk, and took into account several regulatory relief suggestions from the World Council of Credit Unions in its guidance on interest rate risk.
WASHINGTON (4/5/16)--Statements from a Basel Committee on Banking Supervision proposal on the regulation of what it calls “nonbanks” contain numerous inaccurate claims that credit unions need to be regulated more stringently than banks, according to the World Council of Credit Unions. The World Council filed a comment letter last week responding to the Basel Committee’s proposal on the regulation of nonbanks that promote financial inclusion.
WASHINGTON (2/17/16)--The Basel Committee's decision to exempt virtually all credit unions from its Total Loss Absorbing Capacity regulation means that there will likely be no pressure on the National Credit Union Administration to expand its risk-based capital regulation, according to the World Council of Credit Unions. The exemption would apply to all credit unions in all countries, unless they have branch offices outside the United States that are not on military bases.
WASHINGTON (2/3/16)--The World Council of Credit Unions submitted a comment letter to the Global Partnership for Financial Institutions last week, strongly supporting its use of the “concept of proportionality” to limit regulatory burdens on credit unions around the world.
Further CUNA analysis of the U.S. Department of Labor’s overtime rule found minor relief, but CUNA remains concerned about the increased burden on credit unions. Several CUNA-suggested changes were included in the final rule.
Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.