The Superintendency of Banks of Panama (SBP) has updated the provisions of its existing Memorandum of Understanding with the Financial Services Commission of Montserrat, with the purpose of further strengthening consolidated and cross-border supervision of banks and banking groups regulated by both authorities.
This update is carried out in accordance with the powers established under the respective legal frameworks governing each supervisory body.
As evidence of this commitment, the Memorandum of Understanding was signed by Mr. Fabian Singh, Commissioner of the Financial Services Commission of Montserrat, and by the Superintendent of Banks of Panama, Milton Ayón Wong, represented at the signing ceremony by the Director of Regulation, Ana Raquel Velasco, together with the institution’s technical team.
With this initiative, SBP reinforces its cooperation and information-sharing ties with foreign supervisory authorities, strengthening its efforts in banking supervision and the preservation of financial stability.
