IMF Staff Country Reports

Panama: Assessment of Financial Sector Supervision and Regulation, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, and Securities Regulation

February 15, 2007

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Panama: Assessment of Financial Sector Supervision and Regulation, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, and Securities Regulation, (USA: International Monetary Fund, 2007) accessed November 22, 2024

Summary

This paper discusses key findings of the Assessment of Financial Sector Supervision and Regulation for Panama. The assessment of bank supervision showed a high degree of compliance with the Basel Core Principles (BCP) reflecting generally satisfactory implementation combined with an adequate legal and regulatory foundation. The supervisory and regulatory frameworks for capital markets and insurance sectors are underdeveloped. The securities law and regulations are generally effective; however, resources for securities markets oversight are insufficient, and independence is affected by unfilled positions, including a commissioner’s post.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Commercial banks, Crime, Financial institutions, Financial regulation and supervision, Insurance, Securities

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Asset forfeiture, Bank, Bank secrecy law, Banking system assets, Central America, CFT obligation, CNV staff, Comision Nacional de Valores, Commercial banks, CR, Firm, Insurance, ISCR, License bank, Panamanian-headquartered bank, Return on assets, Securities, Well-developed banking system

Publication Details

  • Pages:

    62

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2007/066

  • Stock No:

    1PANEA2007001

  • ISBN:

    9781451830897

  • ISSN:

    1934-7685

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