{
  "title": "Panama: Financial Sector Assessment Program - Technical Note on Macroprudential Framework and Policies",
  "publication": "IMF Staff Country Reports, July 19, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2024/07/19/panama-financial-sector-assessment-program-technical-note-on-macroprudential-framework-and-552163",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2024/07/19/panama-financial-sector-assessment-program-technical-note-on-macroprudential-framework-and-552163",
  "overlayPath": "/en/publications/cr/issues/2024/07/19/panama-financial-sector-assessment-program-technical-note-on-macroprudential-framework-and-552163/index.md",
  "summary": "This paper presents a technical note on Macroprudential Framework and Policies in Panama. The institutional framework for macroprudential policy in Panama broadly meets the principles of good design, in particular for the banking sector, but needs to be further operationalized.",
  "sections": [
    {
      "heading": "Summary and key findings",
      "content": "- The paper presents a technical note on Macroprudential Framework and Policies in Panama.\n- The institutional framework for macroprudential policy in Panama broadly meets the principles of good design, in particular for the banking sector, but needs to be further operationalized.\n- The quality of design and implementation of macroprudential policies will ultimately depend on a number of factors, including the quality of available data.\n- The macroprudential framework could be further improved in several areas.\n- The report recommends to expand the macroprudential policy toolkit with tools to contain excessive leverage and systemic risks in the corporate sector.\n- The Superintendency of Banks of Panama has made important progress on its public communication on macroprudential policy and has produced an internal draft macroprudential policy strategy document.\n- The SBP is encouraged to continue improving the draft macroprudential policy strategy document and publish it within the planned timeframe, by end-2023.\n- An information and data sharing mechanism has been established across supervisory agencies."
    },
    {
      "heading": "Institutional assessment and implementation gaps",
      "content": "- Institutional framework: broadly meets principles of good design for macroprudential policy, especially for the banking sector.\n- Operationalization: needs further work to translate framework design into operational policies.\n- Data dependence: quality of available data is a key determinant of the effectiveness of design and implementation."
    },
    {
      "heading": "Policy recommendations and toolbox enhancements",
      "content": "- Expand macroprudential toolkit:\n  - Add tools to contain excessive leverage in the corporate sector.\n  - Add tools to address systemic risks originating in the corporate sector.\n- Public communication and strategy:\n  - Continue improving the SBP internal draft macroprudential policy strategy document.\n  - Publish the improved strategy document within the planned timeframe, by end-2023.\n- Coordination and information sharing:\n  - Maintain and strengthen the established information and data sharing mechanism across supervisory agencies."
    },
    {
      "heading": "Thematic coverage and subjects",
      "content": "- Covered subjects include: Countercyclical capital buffers; Financial institutions; Financial regulation and supervision; Financial sector policy and analysis; Financial sector stability; Loans; Macroprudential policy; Macroprudential policy instruments.\n\nInternational Monetary Fund. Panama: Financial Sector Assessment Program - Technical Note on Macroprudential Framework and Policies.\n\n---\n\n Content in this bundle\n\n- Executive Summary\n  - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2024/07/19/panama-financial-sector-assessment-program-technical-note-on-macroprudential-framework-and-552163/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2024/07/19/panama-financial-sector-assessment-program-technical-note-on-macroprudential-framework-and-552163/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2024/07/19/panama-financial-sector-assessment-program-technical-note-on-macroprudential-framework-and-552163/bundle-manifest.json)",
    "Published: July 19, 2024",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400284922.002",
    "The paper presents a technical note on Macroprudential Framework and Policies in Panama.",
    "The institutional framework for macroprudential policy in Panama broadly meets the principles of good design, in particular for the banking sector, but needs to be further operationalized.",
    "The quality of design and implementation of macroprudential policies will ultimately depend on a number of factors, including the quality of available data.",
    "The macroprudential framework could be further improved in several areas.",
    "The report recommends to expand the macroprudential policy toolkit with tools to contain excessive leverage and systemic risks in the corporate sector.",
    "The Superintendency of Banks of Panama has made important progress on its public communication on macroprudential policy and has produced an internal draft macroprudential policy strategy document.",
    "The SBP is encouraged to continue improving the draft macroprudential policy strategy document and publish it within the planned timeframe, by end-2023.",
    "An information and data sharing mechanism has been established across supervisory agencies.",
    "Institutional framework: broadly meets principles of good design for macroprudential policy, especially for the banking sector.",
    "Operationalization: needs further work to translate framework design into operational policies.",
    "Data dependence: quality of available data is a key determinant of the effectiveness of design and implementation.",
    "Expand macroprudential toolkit:",
    "Public communication and strategy:",
    "Coordination and information sharing:",
    "Covered subjects include: Countercyclical capital buffers; Financial institutions; Financial regulation and supervision; Financial sector policy and analysis; Financial sector stability; Loans; Macroprudential policy; Macroprudential policy instruments.",
    "**Executive Summary**"
  ],
  "related": [
    {
      "title": "Executive Summary",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2024/english/1panea2024006.pdf",
      "summary": {
        "path": "/-/media/files/publications/cr/2024/english/1panea2024006.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/cr/2024/english/1panea2024006.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2024/07/19/panama-financial-sector-assessment-program-technical-note-on-macroprudential-framework-and-552163/index.md",
    "json": "/en/publications/cr/issues/2024/07/19/panama-financial-sector-assessment-program-technical-note-on-macroprudential-framework-and-552163/index.json",
    "bundleManifest": "/en/publications/cr/issues/2024/07/19/panama-financial-sector-assessment-program-technical-note-on-macroprudential-framework-and-552163/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-11T14:43:14.933Z"
}