Regulatory Alerts2023-01-01 | JPRF-F-2023-073Resolution JPRF-F-2023-073: Determining Proportionality of Deposit Payments Exceeding Insured Value in Forced Liquidation
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2023-073 to establish the specific procedures for applying proportional payments to depositors and the Deposit Insurance Corporation when funds exceed insured limits during the forced liquidation of financial entities. This regulation implements Article 315 of the Organic Monetary and Financial Code, ensuring that unpaid claims are distributed proportionally based on available resources after operational expenses. The resolution mandates the use of a complete depositor database to calculate payment percentages and requires liquidators to report payment details to the Deposit Insurance Corporation until all claims are fully satisfied.
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