SYDNEY -- Top officials from Australia and the U.S. have pledged to help Pacific countries tackle a steep decline in the number of correspondent banks, with the region hit hard by a global de-risking trend.
Finance
Australia, U.S. to tackle Pacific's fall in correspondent banks
'Worrying trend' hurts financial access, stability in region, U.S. official says
The Reserve Bank of Australia: The central bank says the decline in correspondent banks serving the Pacific is due to streamlining and counterterrrorism and anti-money laundering efforts. © EPA/Jiji
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