Pacific Banking Forum - 8-9 July 2024
The Pacific Banking Forum, hosted by the Australian and United States Governments was held in Brisbane, Australia from 8 to 9 July 2024. The APG was represented by the Australian APG Co-Chair, the incoming APG Co-Chair from Japan and the APG Secretariat.
The focus of the Banking Forum was on the decline of correspondent banking relationships in the region, and steps forward to address this issue.
The Outcomes Statement of the Pacific Banking Forum provides further details. As part of the outcomes of the Forum, the APG has committed to enhancing the coordination of technical assistance in the Pacific, and initiating a forum between Pacific regulators and supervisors and US correspondent banks, to provide an avenue for Pacific authorities to update correspondent banks on risk, context and implementation of the FATF standards.
