Caribbean Community Calls on President Obama to Solve Problem of Bank De-risking, But Days Later Bank of America Terminates Correspondent Relationship with Belize Bank

During the meeting between the heads of government of the Caribbean Community and U.S. president, Barack Obama, on April 9, 2015 in Jamaica, the prime minister of Antigua and Barbuda, Gaston Browne, called attention to the unfair and unsubstantiated labelling of the Caribbean region as a high-risk area for financial services and the resulting loss of correspondent relationships.  President Barack Obama reportedly said he is committed “to examine the complaints and go through, in very concrete ways, where our concerns are and how our governments can work together”. However, on April 27, Bank of America announced it has decided to cancel its correspondent banking operation with the domestic and international branches of the Belize Bank