Update to FECI Commission Interpretation Criterion No. 9 on Interest Discounts

19 October 2026
SBP-DS-FECI-CIRCULAR-2026-0111

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

Reference: Update of
Criterion of
Interpretation of the FECI Commission No.
9 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 and the number of operations permitted 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. 9, which is as follows:

“A maximum of up to 3 loans per item, per productive cycle, per borrower is authorized, provided that the sum of the financings does not exceed the maximum amount of B/.1,000,000.00. Once the productive cycle has ended, new loans may be granted under the same conditions and restrictions indicated.

In the terms and conditions letter, as well as in the loan contract, the purpose of the financing must be specified expressly and individually, in relation to the amount, the activity and approved purpose. Likewise, it is the bank's responsibility to establish the internal control mechanisms that allow identifying and validating the cancellations of previous financings granted to the client for the same item and productive cycle”.

We appreciate that the Mr./Ms. Manager issue the pertinent instructions to the personnel under his/her charge for compliance with this.

Sincerely,

Milton Ayón Wong
Superintendent

“Soundness and trust: guarantors of the rights of banking consumers” Av. Samuel Lewis, Panama Business Tower, ground floor - Tels.: (507) 506 7800 / (507) 506-7900 - Fax (507) 506-7700 / 506-7703 P.O. Box 0832-2397 W.T.C. Panama, Republic of Panama - www.superbancos.gob.pa - email: superbancos@superbancos.gob.pa Official document signed with Qualified Electronic Signature in the Document Transparency System – TRANSDOC of the Superintendency of Banks of Panama, in accordance with Law 83 of 09/11/2012 and Executive Decree No. 275 of 11/05/2018. Use the QR Code to verify the authenticity of the document or the URL:
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