The preamble to the final rule describes the steps that supervisors will take under Pillar 2, namely that supervisors will take into account a bank's internal capital-adequacy assessment process – known as its ICAAP – as well as the bank's compliance with the minimum capital requirements set forth in this rule, and all other relevant information.
I hope as a result of this workshop, we will see more effective compliance with the legal requirements under the Credit Unions Act 1986. Role of credit union in the development the financial system I turn to my second point: where do credit unions fit in the financial system and what is their role in the development of the financial system?