Regulatory Alerts2019-10-07
Agreement No. 10 (2019) Adding Article 8-A to Agreement No. 6-2009 on Risk Concentration Limits for Economic Groups and Related Parties
The Banking Superintendence of Panama issued Agreement No. 10-2019 to add Article 8-A to Agreement No. 6-2009, establishing specific exceptions to risk concentration limits for bank shareholding companies. This regulation permits these entities to exceed the standard single-person concentration limit when extending credit facilities backed by sovereign debt exposures in the country where the banking group's principal headquarters is located. The agreement entered into force immediately upon its promulgation on September 24, 2019.
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