Regulatory Alerts2024-01-01 | JPRF-F-2024-0110Resolution JPRF-F-2024-0110: Reform of the Credit Guarantee System to Foster Credit Access and Financial Inclusion
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2024-0110 to reform the Credit Guarantee System, aiming to overcome credit access limitations for underserved groups by aligning with international best practices. The resolution updates the regulatory framework by defining key terms, establishing the Ministry of Economy and Finance as the system manager, and setting strict governance, risk management, and operational standards for authorized guarantee entities. These changes are designed to promote financial inclusion for micro, small, and medium enterprises while ensuring the solvency and stability of the national financial system.
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