Commonwealth Bank and AUSTRAC will enter mediation to attempt to resolve the civil case in which the bank is alleged to have breached money-laundering and terrorism-funding laws.
CBA said on Thursday that the Federal Court has ordered the matter be referred to mediation, at the request of both the bank and AUSTRAC.
The mediation will occur by May 25, the bank said.
The Federal Court has also ordered AUSTRAC to file any reply to the bank's amended defence of the allegations by April 6, and set a timetable for evidence in the proceedings in the event that mediation is unsuccessful.
The federal government's financial intelligence unit alleges CBA breached terrorism funding and money laundering laws more than 53,800 times between December 2011 and September 2015.
Many of the alleged breaches relate to the timing of the bank's reports of cash transactions of $10,000 or more through its Intelligent Deposit Machines.
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