Regulatory Alerts2020-10-26
Agreement No. 012-2020 Modifying Article 19 and Annexes 1 and 2 of Agreement No. 4-2008 on Legal Liquidity Index Compliance
The Board of Directors of the Superintendencia de Bancos of Panama issued Agreement No. 012-2020 to modify Article 19 and Annexes 1 and 2 of Agreement No. 4-2008 regarding the legal liquidity index. This regulation updates the recognized international credit rating agencies by adding Kroll Bond Rating Agency (KBRA) and aligns the definitions of investment-grade and non-investment-grade long-term and short-term ratings with Standard & Poor's, Moody's, and Fitch. The agreement entered into force immediately upon its promulgation on October 13, 2020.
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