Capital Modernization

The BC CCUA team met with select members of the BC system on Thursday, August 17, to strategize for a system response to the BCFSA Capital Modernization discussion paper. Key topics discussed were advocacy priorities, communication with the rest of the system and the establishment of two subgroups to work on a response for capital & leverage ratio and risk weighted assets. CCUA is determining the best approach to advocate to ensure that the implementation timeline is sufficiently flexible and sufficiently long to allow credit unions to transition without hindering necessary growth or creating unintended consequences.

BC Financial System Coordination on Climate Risk and Sustainability

CCUA joined a working group comprised of BCFSA, BC Ministry of Environment, the Municipal Financing Authority, the First Nations Financial Management Board, the Climate Institute, Co-operators Insurance, Vancity and the Vancouver Economic Commission to collaboratively address building a climate-resilient financial system in BC.  This is a unique initiative of financial sector organizations, financial service providers, risk consultancy providers, climate action professionals and financial regulators. The workshops are hosted collaboratively by the Vancouver Economic Commission, the Pembina Institute, and the BC Financial Services Authority as an invitation-only portion of the Understanding Risk BC (URBC) Symposium. The workshops were designed to bring focus to the financial sector and its role in both addressing, and responding to the impacts of, climate change in BC.