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
Financial Action Task Force	AML/CFT and Financial Inclusion - Proposed Changes to FATF Standards	December 6, 2024

Recent News on our Competent Authorities

2024-10-25

Basel Committee Releases Updated Report on 2023 Banking Turmoil

The Basel Committee on Banking Supervision issued a progress report to the G20 Finance Ministers and Central Bank Governors regarding their analysis of the 2023 banking turmoil. It addresses the liquidity-related issues including distressed banks’ outflow rates and the role of the supervisory monitoring tools.

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Bank of International Settlements

Basel Committee Releases Updated Report on 2023 Banking Turmoil

2024-10-23

Financial Stability Institute Issues Paper on Liquidity Stress Tests

Liquidity is a top risk measured and monitored by individual financial institutions and prudential supervisors. The Financial Stability Institute produced a detailed report recently issued by the Bank of International Settlements on the variations and importance of strong liquidity stress tests. The report acknowledges the continued evolution of liquidity challenges given changes to the overall sector, technology and consumer behavior.

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Bank of International Settlements

Financial Stability Institute Issues Paper on Liquidity Stress Tests

2024-09-26

BIS Releases Executive Summary on the Impact of Digitalisation on Operational Continuity in Resolution

Bank of International Settlements (BIS) issued an executive summary outlining Operational Continuity in Resolution (OCiR). OCiR refers to a financial institution in resolution’s ability to continue the critical shared services that are needed to maintain or facilitate the wind-down of a financial institution’s critical functions.

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Bank of International Settlements

BIS Releases Executive Summary on the Impact of Digitalisation on Operational Continuity in Resolution

2024-06-25

Artificial Intelligence Highlighted in New Report by BIS

The Bank for International Settlements (BIS) released a special chapter on Artificial Intelligence (AI) in its new Annual Economic Report of 2024. The increased use of AI has significant implications for the financial system and its stability. The report highlights the impact of AI on Central Banks and the need to anticipate AI’s impact across the economy. Looking forward, Central Banks will need to determine how best to utilize AI in their own operations, especially in the area of data and data governance. The quick rise in adoption of AI within the financial sector and larger economy implies there is an urgent need for Central Banks to quickly increase their understanding both as informed observers of technology advancements as well as users of the technology itself.

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Bank of International Settlements

Artificial Intelligence Highlighted in New Report by BIS

2023-05-30

Statistical release: BIS international banking statistics and global liquidity indicators released

The Bank for International Settlements issued its BIS locational banking statistics (LBS) on global liquidity indicators. The key findings of this report are as follows:

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Bank of International Settlements

Statistical release: BIS international banking statistics and global liquidity indicators released

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