Modifications to the Banking Law of Guatemala in 2009

Banks and financial entities, as well as some companies, will have to give account to the Superintendence of Banks next year.

Monday, December 22, 2008

The regulations include modifications to the Law that governs banks and financial groups in order for the Bank of Gualterio to be able to grand longer term loans to the banking system and to increase the participation of the financial system in the Savings Protection Fund, said the Banking Superintendent, Édgar Barquín.

However, there will be other rules that will be applied to companies such as jewelers, car sales agencies, travel agencies, real estate agencies, and money transfer companies, which will have to report all cash transactions in order to prevent money laundering.

More on this topic

Panamanian Banks Warn about Taxation Agreements

July 2010

Possible repercussions of the double taxation agreements being signed concern the banking sector.

This issue and regulatory management were the center of debate over Panamanian banks' competitiveness and their future in the 19th banking conference, organized by the Panamanian Banking Association (ABP).

New regulations for banking entities in Panama

August 2008

The Superintendence of Banks issued new regulations regarding compliance with the legal liquidity index for entities operating in the Panamanian market.

The legal minimum liquidity index for banks with a General License and an International License is 30% and 20% for those entities that have a quarterly average of interbank deposits that is greater than 80% of their total deposits.

Panama Banks: New rules for appraising guarantees

August 2008

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 Panamanian Banking Supervision authority (Superintendencia de Bancos de Panamá), signed the Agreement #2 of 2008, which specifies the parameters and guidelines for the valuation of guarantees used to mitigate credit risk.

New banking law goes into effect in August

July 2008

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 Office of the Superintendent of Banks has worked out a series of agreements that regulate a new law that will go into effect next month. The agreements relate to ensuring an adequate capital base in the nation's banks as well as liquidity, concentration and consumer protection.

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Pacific Credit Rating Guatemala

Organization that operates in Costa Rica, El Salvador, Guatemala and Panama.
Phone: (502) 2261 7066

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