The Panamanian Bank Superintendent, Olegario Barrelier, clarified that no Panamanian bank is having cash problems.
La Estrella published on its website: "Although the figures show that the Panamanian Banking System remains sound, it has been affected by rumors of liquidity problems at some institutions in recent days.
External interbank deposits totaled 8.28 billion dollars at the close of the third quarter.
The most of funds (7.6%) that provide liquidity to the national banking system come from individual desposits and clients.
"The financial integration of our Banking System allows for greater access and negotiation of external funds especially through foreign bank branches and subsidiaries that operate in the country as this represents a clear advantage in maintaining and attracting resources from those seeking greater stability in the face of the current volatility of the external markets," accroding to the Superintendence.
Responding to the international financial situation the Panamanian Bank Superintendent's Office has decided to adopt temporary measures.
According to Resolution 8-October 31, 2008; at the request of a bank, the Superintendent's Office may approve a resolution to the effect that obligations issued by the Panamanian government, US Treasury bonds and notes and Latin American government debt within its investment portfolio be transferred from the category of securities available for sale to the category of term securities.
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