Webinar on October 8th, 2020: Digitization of Credit Unions in a World of Cyber Security Risks
The current pandemic has made it abundantly clear that in order to remain relevant and keep members safe credit unions must offer digital solutions. While large financial institutions in most jurisdictions are already there, small credit unions everywhere are struggling with technology due to limitations in financial and human resources. What role should supervisors play in supporting digitization of credit unions? How should supervisors increase cyber vigilance when financial providers are increasing their online offerings? What should be the new approach to AGMs given the existing restrictions on large gatherings? In this webinar four panelists will present experiences from the U.S., Canada and Ireland on guiding credit unions that are digitizing operations and services.
Webinar on October 28th, 2020: Ensuring Stability through Remote Supervision
As regulators our mission is to protect credit unions and the members who own them. This is particularly challenging during a global pandemic that affects both the institutions we supervise and our own agencies. What is the effectiveness of offsite supervision in the current environment? How are regulatory agencies managing their approach to employee location – remote work versus phased return to the office? And how do supervisors prepare credit unions for prolonged low-interest rates environment, the likelihood of weaker repayments as fiscal supports imposed at the start of the pandemic expire? In this webinar three panelists will present experiences from the World Bank, Canada and Latin America on guiding credit unions to ensure stability through remote supervision.
COVID-19 Resource Hub for Supervisors
2020 Member Baseline Survey - a comprehensive comparison of credit union supervision globally
From September, 2019 to January, 2020 (pre-pandemic) ICURN has surveyed 31 regulators in 22 countries and analyzed data to offer supervisors the chance to benchmark against their peers from around the world. Click on the links below to see the survey results.
Executive Summary: 2020 Member Baseline Survey
Full Report: 2020 Member Baseline Survey
Survey on how Financial Cooperatives Supervisors are Responding to COVID-19. May 2020. - Contact the Secretariat
Examiner Guidance for Assessing the Safety and Soundness Considering Effect of COVID-19 - USA Inter-agency guidance June 2020
Financial Consumer Protections during COVID-19 Financial Access Initiative blog. April 2020.
Supervisory Principles for Responding to COVID-19 economic fallout published on World Bank blog. April 2020.
Guidance from Basel Committee on Measures to reflect the impact of COVID-19. April 2020
Dealing with Distressed Financial Cooperatives. World Bank. March 2015
Guidance from US Regulators on Trouble Debt Restructuring & Provisioning under COVID-19
Guidance from the Central Bank of Ireland Registry of Credit Unions
Circulars to credit unions:
F&P Guidance regarding temporary appointments to PCF roles arising from Covid-19 illness or related situations; PCF assessment process; and adherence to the Fitness and Probity Standards.
Central Bank COVID-19 Hub - latest information for consumers, businesses and regulated firms on our response to COVID-19