A delegation of the committee made on October 21-24 a visit to the European Parliament (EP) and the European Commission (EC) to have a range of meetings with their high-ranking representatives. Among the visit’s end was one to exclude the “EUR 5 million” provision for credit unions’ charter capitals from the respective Europeans regulations.
In the course of the visit, the committeemen met Marie Donnay, Head of Unit, the Directorate-General for Financial Stability, Financial Services and Capital Markets Union, Mykola Tochytskyi, the Ambassador Extraordinary and Plenipotentiary of Ukraine to the Grand Duchy of Luxembourg and other reps of the Mission of Ukraine to the European Union. While in Brussels, they also met with other top officials from the Directorate-General for Financial Stability, Financial Services and Capital Markets Union.
The committeemen also engaged in debates over implementation by Ukraine of the EU’s directives 2014/49/EU and 2014/59/EU aiming at introducing the deposit guarantee scheme for credit union members.
Another pressing point of the visit was a request to render Ukraine an updated EU acquis communautaire on financial services to the agreement between Ukraine and the EU, the European Atomic Energy Community (Euroatom).
The visit resulted in the promises to send the acquis by the end of the year and to soon hold additional debates on non-application of some provisions of the Directive 2013/36/EU (CRD IV) towards credit unions, including the “EUR 5 m” clause.
Worthy of note
The visit was organized with the furtherance of the USAID Credit for Agriculture Producers Project (CAP), the European Network of Credit Unions (ENCU) and the World Council of Credit Unions (WOCCU).