If the Basel Committee of Banking Supervision doesn't take financial cooperatives into consideration as it ponders stricter capital requirements, it won't be for a lack of trying.
April 15, World Council of Credit Unions' Pete Crear and Dave Grace scored valuable face time with Basel Chairman Nout Wellink, telling the Netherlands Bank chairman that credit unions should not be subject to tougher capital requirements than larger institutions.
The Amsterdam meeting for WOCCU's president and vice president of association services followed three letters WOCCU had earlier sent in response to the committee's proposed rules on stress-testing procedures and capital level requirements.
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