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Panama: Financial Sector Assessment Program - Technical Note on Macroprudential Framework and Policies
Author: International Monetary Fund. Monetary and Capital Markets Department
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2024: Issue 236
Language:
English
Publication Date:
19 Jul 2024
DOI:
https://doi.org/10.5089/9798400284922.002
ISBN:
9798400284922
ISSN:
1934-7685
Pages:
49
Keywords:
IMF-World Bank Financial Sector Assessment Program; Superintendencia de Bancos de Panamá; Superintendencia de Seguros y Reasseguros de Panamá; Unidad de Análisis Financiero de Panamá; Macroprudential Policy committee; Macroprudential policy; Financial sector stability; Loans; Countercyclical capital buffers; Macroprudential policy instruments; Central America; Global
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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.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund