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European credit unions with concerns about funding classifications as they appear in Basel III guidelines have taken the matter in hand, meeting with lawmakers in both London and Brussels last week to state their case.

Representatives from the European Network of Credit Unions and World Council of Credit Unions met with representatives from the European Banking Authority’s Regulation Section in London on Nov. 21 to ask the EBA for credit union-specific liquidity classification under the European Union’s Basel III rules in order to reflect that credit unions’ deposits in banks are generally “sticky and stable” even during times of economic stress.

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