太平洋岛国代理银行的衰落：知识状况和解决问题的方法（英）

Investment Rating - The report does not explicitly provide an investment rating for the industry, but it highlights significant concerns regarding the decline of Correspondent Banking Relationships (CBRs) in Pacific Island countries, which may impact investment attractiveness and economic stability in the region [7][40]. Core Insights - The report emphasizes the critical role of CBRs in facilitating cross-border payments, which are essential for trade and remittances in the Pacific Islands. The ongoing withdrawal of these relationships due to de-risking poses a threat to financial inclusion and economic development [8][40]. - De-risking is defined as the withdrawal of banking services in response to anti-money laundering (AML), combating the financing of terrorism (CFT), and proliferation financing (CPF) concerns. This phenomenon has led to a significant decline in the number and quality of CBRs, particularly affecting smaller jurisdictions [11][39]. - The report identifies that the decline in CBRs has adversely impacted export performance and increased remittance costs, with econometric analysis supporting these findings [13][20]. Summary by Sections Background to the Study - The study was initiated following concerns raised at the Pacific Islands Forum Economic Ministers meeting regarding the ongoing withdrawal of CBRs in the region, which is exacerbated by the effects of de-risking [7][9][40]. Introduction and Purpose - The report aims to understand the current state of CBRs in Pacific Island countries, the actions taken to address the issue, and potential solutions to prevent further de-risking [9][10]. De-risking and CBRs - De-risking has led to a significant reduction in CBRs, particularly affecting jurisdictions with limited banking options. The report notes that some countries, like Fiji and the Cook Islands, have experienced more severe losses than others [15][16]. - The report highlights that the profitability and risk/reward considerations are key drivers behind the withdrawal of CBRs, with international banks often finding these services unprofitable [20][72]. Recent Developments - The report discusses various initiatives undertaken by Pacific Island Forum members to strengthen AML/CFT/CPF measures and counter de-risking, including improving local laws and exploring electronic Know Your Customer (eKYC) utilities [27][29]. Recommendations - The report outlines several recommendations to address CBR losses, including the investigation of safe payment corridors, improving national identification systems, and developing a CBR resilience framework [32][34][35].