Good morning. Thank you for participating in the 18th Asia-Pacific High-Level Meeting on Banking Supervision today. It is a great honor to host the first in-person meeting in five years since 2019, here at the Bank of Japan. In recent years, we have witnessed significant shifts in the economic and financial landscape. These shifts began with the slowdown in economic activity due to the COVID-19 pandemic, followed by subsequent recoveries, heightened geopolitical tensions, and a surge in inflation. Despite these challenges, the impact on the financial system in the Asia-Pacific (APAC) region has been relatively ... (full story)