Int’l regulators hear presentations
on cyber threats, common bond

JULY 17, 2015 -- U.S. credit union regulators were well-represented this week by NASCUS and NCUA when the International Credit Union Regulators' Network (ICURN) met for its annual conference in Denver, Colo.

NASCUS President and CEO Lucy Ito was joined by NCUA Deputy Executive Director John Kutchey to deliver a presentation on cyber threats to regulators. The 90-minute session covered (among other things) supervisory expectations, examination, and the newly released U.S FFIEC cyber assessment tool.

Ito also gave a presentation on chartering and regulating credit unions with ‘challenging’ common bonds.

The three-day conference provides a forum for credit union regulators from around the world to discuss issues of mutual concern and share best practices. Among the other topics discussed at the 2015 session: pending changes to calculation of loan loss reserves and the three emerging approaches to those calculations; incipient risks in various world regions; and global trends in scaling supervision to size.

ICURN is an independent international network of credit union regulators that promotes the guidance given by the leaders of the Group of 20 (G-20) nations for greater international coordination among financial services regulators. NASCUS and NCUA hold seats on ICURN’s governing Steering Committee.

60 regulators from 23 countries attended the Denver conference, including U.S. state and Canadian provincIal regulators.

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