Regulatory Alerts2022-01-01
Added · Updated
Circular 035 (2022): Temporary Extension of Appraisal Reports
The Superintendence of Banks of Panama issued Resolution SBP-GJD-0001-2022 to temporarily extend the validity of appraisal reports held in bank files for securing guarantees on movable and immovable property until August 1, 2022. This extension modifies the previous Resolution SBP-GJD-0006-2021 and takes effect on April 19, 2022. General Managers are instructed to disseminate these requirements to their personnel to ensure compliance with the new regulatory timeline.
April 13, 2022 Circular No. SBP-DR-0035-2022
To: General Manager City
Reference: Board of Directors General Resolution No. SBP-GJD-0001-2022 (temporary extension of appraisal reports)
Dear General Manager:
We are pleased to inform you that Board of Directors General Resolution No. SBP-GJD-0001-2022 of April 12, 2022, "Which modifies Board of Directors General Resolution No. SBP-GJD-0006-2021 of October 19, 2021," has been issued.
Through the aforementioned Resolution, the validity of appraisal reports currently held in the bank's files for the establishment of guarantees on movable and immovable property is extended until August 1, 2022.
This Resolution shall take effect on April 19, 2022.
Attached you will find a copy of the aforementioned Resolution, which you may access through our website www.superbancos.gob.pa in the laws and regulations section.
We thank you, General Manager, for instructing your staff on the pertinent measures to comply with the present Resolution.
Sincerely,
Amauri A. Castillo Superintendent
Attachment: As indicated ARV/adec