IMF Staff Country Reports

Panama: Financial Sector Assessment Program - Technical Note on Macroprudential Framework and Policies

Publication Date:

July 19, 2024

Electronic Access:

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Summary:

Since the 2012 FSAP, Panama has significantly strengthened its institutional framework and instruments for macroprudential policy-making. Among other reforms, to strengthen the transparency of and accountability for macroprudential policy, the Superintendency of Banks of Panama (SBP) and the Financial Coordination Council (CCF) have made significant progress in implementing several of the recent high-priority IMF technical assistance (TA) recommendations. These include establishing a dedicated Macroprudential Policy Committee (CPMP), updating the SBP’s decision making process for macroprudential policy issues, drafting a macroprudential policy strategy document, improving public communication via the Financial Stability Report (FSR), and addressing data gaps. The CCF also made notable advancements in establishing its own Committee on Macroprudential Policy, developing member entities’ capacity on macroprudential policy, and gathering data.

Series:

Country Report No. 2024/236

Subject:

Commercial banks Countercyclical capital buffers Credit Financial institutions Financial regulation and supervision Financial sector policy and analysis Financial sector stability Liquidity requirements Loans Macroprudential policy Macroprudential policy instruments Money Mortgages Systemic risk

Frequency:

regular