Virtual Remarks by Secretary of the Treasury Janet L. Yellen at the Pacific Banking Forum

As Prepared for Delivery It is my pleasure to welcome all of you to the Pacific Banking Forum. As President Biden has made clear, the United States is committed to an Indo-Pacific that is free and open, connected, prosperous, secure, and resilient. A strong and connected Pacific region has benefits for the United States and for the global economy. And when President Biden hosted Prime Minister Albanese at the White House last October, they particularly stressed the importance of increasing economic connectivity, development, and opportunity across the Pacific. A key part of achieving that is making sure people and businesses in the region have access to the global financial system. This event furthers that shared goal. Our key focus here is on supporting the Pacific region’s economic resilience, including through strengthening access to correspondent banks.