Regulatory Alerts2023-01-01 | JPRF-F-2023-087Resolution JPRF-F-2023-087: Reforming Interest Rate Regulations for Productive SME Credit
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2023-087 to replace the static maximum interest rate system for the productive SME credit subsegment with a flexible mechanism. This reform establishes that the maximum effective active rate will be calculated as the previous month's reference rate plus two standard deviations, where the standard deviation is derived from the last twelve months of data. The measure aims to preserve the dynamism of the financial system and promote economic growth by allowing for efficient price allocation in new credit concessions.
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