This technical cooperation seeks to strengthen Panama as a reference International Financial Center by improving its regulatory and supervisory architecture and its compensation and settlement infrastructure. The improvement of the regulatory architecture requires moving towards a regulatory structure of greater integration more adapted to the particularities of the financial system in Panama, as well as to the challenges of the new products and technologies existing in the sector and that blur traditional regulatory boundaries. The compensation and settlement system in Panama has to be modernized, as it still does not compensate and settle in real time and is dependent on the United States. This makes it inefficient and highly vulnerable to systemic liquidity crises or phenomena such as De-risking. For this reason, the country must advance in the regulatory, institutional and operational framework to put into operation a modern compensation and settlement system.
Project Detail
Country
Panama
Project Number
PN-T1198
Approval Date
May 3, 2018
Project Status
Closed
Project Type
Technical Cooperation
Sector
FINANCIAL MARKETS
Subsector
FINANCIAL REGULATION AND SUPERVISION
Lending Instrument
-
Lending Instrument Code
-
Modality
-
Facility Type
-
Environmental and Social Impact Category (ESIC)
Category C: Likely to cause minimal or no negative environmental and associated social impacts
Total Cost
USD 250,000.00
Country Counterpart Financing
USD 0.00
Original Amount Approved
USD 250,000.00