Regulatory Alerts2021-11-01
Added · Updated
Agreement No. 4 (2021) Modifying Article 2 and Adding Article 14-A to Agreement No. 1-2004
The Banking Superintendence of Panama issued Agreement No. 004-2021 to amend the regulatory framework for bank share acquisitions and transfers. The amendment requires prior authorization for transactions involving a change of control or significant influence, while mandating prior notification for all other share transfers. Additionally, it introduces Article 14-A, which obligates banks to notify the Superintendence of any share pledges used as credit collateral and prohibits banks from accepting their own shares as exclusive loan guarantees.
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