Panama: Assessment of Financial Sector Supervision and Regulation, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, and Securities Regulation

Publication Date:

February 15, 2007

Electronic Access:

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Summary:

This paper discusses key findings of the Assessment of Financial Sector Supervision and Regulation for Panama. The assessment of bank supervision showed a high degree of compliance with the Basel Core Principles (BCP) reflecting generally satisfactory implementation combined with an adequate legal and regulatory foundation. The supervisory and regulatory frameworks for capital markets and insurance sectors are underdeveloped. The securities law and regulations are generally effective; however, resources for securities markets oversight are insufficient, and independence is affected by unfilled positions, including a commissioner’s post.

Series:

Country Report No. 2007/066

Subject:

English

Publication Date:

February 15, 2007

ISBN/ISSN:

9781451830897/1934-7685

Stock No:

1PANEA2007001

Pages:

62

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