Banking law reforms become effective this month in Panama
The new provisions of the Banking Law will become effective starting August 25, the Superintendency of Banks indicated.
Wednesday, August 13, 2008
The new provisions include increased regulations for banks with international licenses and the creation of the position of banking supervisor. Other changes are the streamlining and flexibilisation of forced bank liquidation processes and the institution of banking services mediation.
The growth of the banking business and its increasing complexity have been behind the reform of the Decree Law 9, issued Feb. 26, 1998.
The Superintendence of Banks issued new regulations regarding compliance with the legal liquidity index for entities operating in the Panamanian market.
The new rule establishes which guarantees will be accepted by the Banking Supervision Authority as credit risk mitigators, and how they should be valued
The Superintendency of Banks in Panama has issued Agreement 005-2012, updating the rules on the placement of deposits between banks.
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