MADISON, Wis. — World Council of Credit Unions has produced a new Model Regulations for Credit Unions, a companion piece to WOCCU's 2005 Model Law for Credit Unions.
The Model Regulations publication will provide international policymakers, regulators, and credit union leaders with guidelines for implementing quality regulatory standards. Regulations were based on examples assembled from numerous countries, as well as WOCCU's international development experience and documented best practices.
"Credit unions in many countries do not have sufficient regulatory supervision," said Dave Grace, WOCCU's vice president of association services. "WOCCU is providing policymakers the next step of guidance–model regulations to implement the laws they've created."
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The guide includes a regulation matrix on CD-ROM containing real-world examples of regulations from 18 distinct credit union sectors, including both developed and developing movements. The matrix will aid users in developing and implementing the regulations.
Model Regulations will be distributed to participants of the Global Regulators' Roundtable, scheduled to take place as part of the 2008 World Credit Union Conference, July 13-16, 2008, in Hong Kong. The guide also will be given to attendees of the African and Latin American Regional Regulators' Roundtable meetings.
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