Regulatory Alerts2020-07-21
Agreement No. 007-2020 Modifying Article 4 of Agreement No. 2-2020 on Exceptional Credit Risk Measures
The Banking Superintendence of Panama issued Agreement No. 007-2020 to extend the evaluation period for banks to restructure loans affected by the COVID-19 pandemic. This regulation modifies Article 4 of Agreement No. 2-2020, extending the deadline for assessing impacted debtors from 120 days to December 31, 2020. The measure allows banks to maintain current credit classifications and grant grace periods while awaiting new provisioning criteria.
Share