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CU News From Around the Planet

MADISON, Wis.—In follow-up to a meeting between the Basel Committee on Banking Supervision and representatives of the World Council of Credit Unions, WOCCU has written to the Committee seeking further guidance on “when less-complex regulatory approaches can be warranted for credit unions.” 

BASEL, Switzerland—The World Council said it led an effort to persuade the Basel Committee on Banking Supervision to endorse proportionality, which allows national and regional financial regulators to prescribe compliance standards for credit unions that are less burdensome than those required by Basel III and other international financial regulatory standards.