Regulatory Alerts2022-11-16
Agreement No. 011-2022: Adding Item 13 to Article 4 of Agreement No. 8-2010 on Integrated Risk Management
The Banking Superintendence of Panama issued Agreement No. 011-2022 to formally incorporate climate-related financial risks into the regulatory framework for banks and banking groups. The regulation amends the Integrated Risk Management Agreement to define and require the management of physical, transition, and liability risks associated with climate change. This mandate aligns Panamanian banking standards with international best practices and Basel Committee guidelines to ensure financial system resilience against climate impacts.
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