Panama Banks classified based on security

A new label placed at the entrance of banks in Panama advises clients that they are about to enter a secure institution.

Friday, November 28, 2008

The measure was announced yesterday by the Superintendence of Banks in the country which seeks to protect the System and the rights of users.

The measure is a part of the Institutional Id Program, whose purpose is to strengthen the regulatory function of the banks, branches and companies that are dedicated to fiduciary activities.

More on this topic

Panamanian Bank Superintendent Assures Robustness

March 2009

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.

Nicaragua: Bank credit relaxed

January 2009

Less requirements by the financial system to get loans for production and home acquisition.

According to the EL Nuevo Diario.com.ni: "One of the measures was to relax the Regulation for the Credit Risk Management, which came into effect on January 1, as authorized by the SIB.

Panama adopts temporary measures in response to the financial crisis

November 2008

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.

Foreign deposits in Panama increase 40%

October 2008

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.

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