IMF Staff Country Reports

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

July 19, 2024

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International Monetary Fund. Monetary and Capital Markets Department "Panama: Financial Sector Assessment Program - Technical Note on Macroprudential Framework and Policies", IMF Staff Country Reports 2024, 236 (2024), accessed December 22, 2024, https://doi.org/10.5089/9798400284922.002

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Summary

This paper presents a technical note on Macroprudential Framework and Policies in Panama. The institutional framework for macroprudential policy in Panama broadly meets the principles of good design, in particular for the banking sector, but needs to be further operationalized. The quality of design and implementation of macroprudential policies will ultimately depend on a number of factors, including the quality of available data. The macroprudential framework could be further improved in several areas. The report recommends to expand the macroprudential policy toolkit with tools to contain excessive leverage and systemic risks in the corporate sector. The Superintendency of Banks of Panama has made important progress on its public communication on macroprudential policy and has produced an internal draft macroprudential policy strategy document. The SBP is encouraged to continue improving the draft macroprudential policy strategy document and publish it within the planned timeframe, by end-2023. An information and data sharing mechanism has been established across supervisory agencies.

Subject: Countercyclical capital buffers, Financial institutions, Financial regulation and supervision, Financial sector policy and analysis, Financial sector stability, Loans, Macroprudential policy, Macroprudential policy instruments

Keywords: Central America, Countercyclical capital buffers, Financial sector stability, Global, IMF-World Bank Financial Sector Assessment Program, Loans, Macroprudential policy, Macroprudential Policy committee, Macroprudential policy instruments, Superintendencia de Bancos de Panamá, Superintendencia de Seguros y Reasseguros de Panamá, Unidad de Análisis Financiero de Panamá

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