THE globe

CU News From Around the Planet

MADISON, Wis.–The World Council of Credit Unions World Council is calling on the Basel Committee on Banking Supervision to make the use of daily averages in leverage ratio disclosures optional for non-complex depository institutions, such as credit unions and other community-based mutual depository institutions, that follow standardized risk-based capital rules. 

SEOUL, South Korea—South Korea’s financial regulator plans to establish an open interbank payment network this year that can be accessed not only by banks but also financial technology companies, with the goal of bolstering the country’s fledgling fintech business sector. 

JERUSALEM—An Israeli inter-ministerial team is recommending the establishment of a regulatory sandbox for fintech startups, intended to provide early stage companies with regulatory mentoring and time-limited exemptions. 

WASHINGTON—There needs to be a level playing field for small contractors, including credit unions, when it comes to how the U.S. Agency for International Development (USAID) prioritizes procurement reforms, according to the World Council of Credit Unions and CUNA.