Update of FECI Commission Interpretation Criterion No. 5 regarding the discount of interest — SBP — PA

19 October 2026
SBP-DS-FECI-CIRCULAR-2026-0112

SBP Superintendency of Banks of Panama

Mr./Ms.
General Manager
E. S. D.

Reference:
Update of the Interpretation
Criterion of the FECI Commission
No. 5 regarding the discount of interest.

Mr./Ms. General Manager:

In accordance with the provisions of article 3 of the Single Text of Law 4 of 17 May 1994, it corresponds to the FECI Commission to establish the criteria for the application of said Law.

By virtue of the foregoing, and considering that through Law 98 of 2019, article 1 of Law 4 of 1994 was amended, increasing the maximum amount allowed per productive cycle, per item, per natural or legal person, to receive the interest discount, the FECI Commission communicates the update of Interpretation Criterion No. 5, which is as follows:

“In contracts for lines of credit granted to qualified sectors, the amount of the loan shall be the sum effectively disbursed and used by the borrower, regardless of the maximum limit authorized in the contract. In the case of line of credit contracts for amounts exceeding B/.1,000,000.00, the interest discount benefit shall be applied to the balance of the first disbursements executed until reaching B/.1,000,000.00 per productive cycle. Once the productive cycle ends and the renewal of the line of credit is formalized, the new approved disbursements may opt for the interest discount benefit, subject to the same conditions, caps and technical validations.

In the case of line of credit contracts approved for various agricultural activities and purposes, it is the responsibility of the bank to establish and execute the necessary internal and technological control mechanisms to guarantee that accumulated disbursements do not exceed the maximum amount per item per productive cycle”.

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SBP-DS-FECI-CIRCULAR-2026-0112

We appreciate the Mr./Ms. Manager instructing the personnel under their charge with the pertinent instructions for compliance with this document.

Sincerely,
Milton Ayón Wong
Superintendent

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Issued under

Single Text of Law 4 of 17 May 1994Not in RegAlert
“In accordance with the provisions of article 3 of the Single Text of Law 4 of 17 May 1994, it corresponds to the FECI Commission to establish the criteria for the application of said Law.”