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.”
CU News From Around the Planet
MELBOURNE/SYDNEY, Australia.–A delegation of U.S. credit union and association executives visited Australia as part of a trip organized by the World Council of Credit Unions.
PERTH, Australia–Australia is seeing several large mergers among mutual banks and credit unions.
HONG KONG—The first batch of virtual banking licenses here have been granted to three financial organizations by the Hong Kong Monetary Authority (HKMA).
MISSISSAUGA, Ontario- Samsung Electronics Canada has announced a new partnership with the Canadian Credit Union Association (CCUA) on a payments solution for its 240 member CUs.
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.
NEW PLYMOUTH, N.Z.–Members of four out of five credit unions here that are part of a proposed merger have voted in favor of the combination.
TOKYO—The Japanese government has made amendments to two Acts, the Financial Instruments and Exchange Act and the Fund Settlement Act, in order to accommodate virtual currencies.
DUBLIN, Ireland—The impact of the European Union’s General Data Protection Regulation (GDPR) is being felt in Ireland, according to a new report.