Professionals from the Virginia Credit Union League and CULedger learned the unique ways Estonian credit unions serve their members--including a new currency and green energy investments--during a WOCCU Global Classroom visit.
The World Council of Credit Unions’ Board appointed two new Directors at the 2019 World Credit Union Conference, and heard from economic trend forecaster Pippa Malmgren in her keynote address during Tuesday’s general session.
India becomes the 20th country to launch a Global Women’s Leadership Network Sister Society, with women from the Maharashtra State Federation of Cooperative Credit Societies and Kalyani Mahila Nagari Cooperative Credit Society forming a chapter in Nashik.
Following a meeting between credit union industry representatives from around the world, the World Council of Credit Unions wrote to the Basel Committee on Banking Supervision Wednesday to ask for further regulatory proportionality for credit unions.
CUNA and other international credit union organizations joined a World Council of Credit Unions-led effort Friday to urge the Basel Committee to endorse regulatory proportionality, which allows less burdensome compliance standards for credit unions.
The World Council of Credit Unions urged the Basel Committee in Banking Supervision to provide flexibility when it comes to leverage ratio disclosures. The Basel Committee is the primary global standard setter for the prudential regulation of banks.
The Basel Committee on Banking Supervision Monday finalized amendments to the Basel III market risk framework which introduce a simplified approach supported by World Council of Credit Unions that will help limit regulatory burdens on credit unions.
The World Council of Credit Unions supports the existing accounting treatment of cooperative shares as equity, but asked for some clarifications in a letter to the International Accounting Standards Board sent this week.
The World Council of Credit Unions supports most aspects of the Global Financial Innovation Network, but urges member agencies to work to ensure a level playing field. CUNA strongly supports the World Council’s recommendations as well.
While World Council of Credit Unions does not support a requirement for credit unions to obtain “Legal Entity Identifiers” it sees some potential value in encouraging increased use of this system, it wrote last week.