Resolution JPRFM-2025-020-F Replacing Article 18 on Deposit Insurance Premium Contributions for the Popular and Solidarity Financial Sector

RESOLUTION No. JPRFM-2025-020-F
THE BOARD OF FINANCIAL AND MONETARY POLICY AND REGULATION

CONSIDERING:

That, Article 226 of the Constitution of the Republic of Ecuador prescribes that public servants and persons acting by virtue of a state power shall exercise only the competencies and faculties attributed to them in the Constitution and the Law;

That, Article 227 ibid states that Public Administration constitutes a service to the community governed by the principles of effectiveness, efficiency, quality, hierarchy, coordination, planning, among others;

That, the first clause of Article 303 of the constitutional norm determines that the formulation of monetary, credit, exchange, and financial policies is the exclusive faculty of the Executive Branch and will be implemented through the Central Bank of Ecuador;

That, on October 13, 2025, the Organic Reform Law of the Organic Monetary and Financial Code was published in the Sixth Supplement of the Official Register No. 142;

That, Article 13 of the Organic Monetary and Financial Code, Book I, creates the Board of Financial and Monetary Policy and Regulation, part of the Executive Branch, as an organ with functional, technical, and institutional autonomy, and in its decisions, responsible for the formulation of monetary, credit, financial, securities, insurance, and prepaid comprehensive health care service policy and regulation. The Board of Financial and Monetary Policy and Regulation will be the highest governing body of the Central Bank of Ecuador;

That, Article 17 of the aforementioned Code, in its pertinent part, determines that:

"(...) For the fulfillment of these functions, the Board will issue regulations in matters within its competence, without altering legal provisions. The Board of Financial and Monetary Policy and Regulation may issue regulations by segments, economic activities, and other criteria. It may even reform or repeal regulations from the former Board of Monetary Policy and Regulation, Board of Financial Policy and Regulation, or Board of Monetary and Financial Policy and Regulation. All norms and policies issued by the Board of Financial and Monetary Policy and Regulation in the exercise of its functions, duties, and faculties must be

RESOLUTION No. JPRFM-2025-020-F backed by technical and legal reports duly substantiated (...)";

That, Article 18 ibid establishes the specific functions of the Board of Financial and Monetary Policy and Regulation in the financial sphere, specifically in numeral 16 it empowers this Institution to issue secondary regulation related to the Deposit Insurance, Liquidity Fund, and Private Insurance Fund;

That, Article 24 of the same Code provides that the acts of the Board of Financial and Monetary Policy and Regulation enjoy the presumption of legality and will be expressed through resolutions that will have mandatory force, which will govern from their publication in the Official Register, or from the date of their issuance when so determined by the Board, in accordance with the subject matter;

That, Article 25.2 ibid determines that the Technical Secretariat of the Board of Financial and Monetary Policy and Regulation is exercised by the Central Bank of Ecuador, and Article 25.3 establishes as its functions the preparation of technical and legal reports to support regulation proposals, provide technical and administrative support to the Board of Financial and Monetary Policy and Regulation, and those other functions assigned to it by said Board;

That, Article 325 of the Organic Monetary and Financial Code establishes "The Deposit Insurance will be funded with the following resources, to the extent that each financial sector corresponds:

1. The contributions that entities from the private and popular and solidarity financial sectors will make, in accordance with what is provided in this Code (...)";

That, Article 326 of the previously cited Organic Code determines that contributions to the Deposit Insurance and the periodicity of their payment by entities from the private and popular and solidarity financial sectors will be determined by the Board of Monetary and Financial Policy and Regulation. It also provides that these contributions may be differentiated by each financial sector and entity, and will consist of a fixed premium and a variable premium, differentiated by the risk of the entity;

That, Article 328 of the same Code establishes that the amount protected by the Deposit Insurance for each natural or legal person will be differentiated for each of the insured financial sectors;

That, General Provision Twenty-Ninth ibid states: "In existing legislation where mention is made, indistinctly, of the Board of Monetary and Financial Policy and Regulation, the Board of Monetary Policy and Regulation; or, the Board of Financial Policy and Regulation, replace and understand as 'Board of Financial and Monetary Policy and Regulation'";

That, Subsection IV "Sources of resources of the Deposit Insurance System and payment of contributions", of Section I "General Norms for the Operation of the Deposit Insurance of the Private Financial Sector and the Popular and Solidarity Financial Sector", Chapter XXVIII "On Deposit Insurance", Title II "National Financial System", Book I "Monetary and Financial System" of the Codification of Monetary, Financial, Securities, and Insurance Resolutions, contains the norms regarding premium contributions for the Deposit Insurance of the Popular and Solidarity Financial Sector;

That, First Transitional Provision of the Organic Reform Law of the Organic Monetary and Financial Code determines that the members of the Board of Financial and Monetary Policy and Regulation, sworn in on September 16, 2025 by the National Assembly, will continue to exercise their functions for the periods they were designated and will maintain their labor continuity and acquired rights;

That, through Letter No. T.233-SGJ-25-098, dated September 5, 2025, signed by the Constitutional President of the Republic, addressed to the President of the National Assembly, the list of candidates for the designation of the Members of the Board of Financial and Monetary Policy and Regulation was sent; as well as, the temporality of their stay within the initial period;

That, the Plenary of the National Assembly, on September 16, 2025, designated and swore in the members of the Board of Financial and Monetary Policy and Regulation, in the persons of: Gustavo Estuardo Camacho Dávila; Silvia Daniela Moya Arteta; Roberto Javier Basantes Romero; María Isabel Camacho Cárdenas; and, Jeniffer Nathaly Rubio Abril;

That, through Letter No. COSEDE-COSEDE-2025-0408-OFICIO, dated November 24, 2025, the Deposit Insurance, Liquidity Fund, and Private Insurance Fund Corporation (COSEDE) sent to the Board of Financial and Monetary Policy and Regulation Technical Report No. CTRE-MET-2025-003, on the coverage of the Deposit Insurance and proposal for the target level of the Deposit Insurance of the Popular and Solidarity Financial Sector;

That, the Board of Financial and Monetary Policy and Regulation, through extraordinary session No. 009-2025, under mixed modality, on December 31, 2025, reviewed the proposal sent via Memorandum No. BCE-BCE-2025-0343-M, dated December 30, 2025, by the General Manager of the Central Bank of Ecuador to the President of the Board of Financial and Monetary Policy and Regulation; as well as, Technical Report

RESOLUTION No. JPRFM-2025-020-F
No. BCE-GEEE-070-2025/ BCE-SEMF-099-2025, dated December 29, 2025; and, Legal Report No. BCE-GJ-074-2025, dated December 30, 2025; and,

In exercise of its functions and in attention to Article 24 of the Organic Monetary and Financial Code, the Board of Financial and Monetary Policy and Regulation,

RESOLVES:

SINGLE ARTICLE.- Replace Article 18 of Paragraph II "Premium Contributions for the Deposit Insurance of the Popular and Solidarity Financial Sector", Subsection IV "Sources of Resources of the Deposit Insurance System and Payment of Contributions", Section I "General Norms for the Operation of the Deposit Insurance of the Private Financial Sector and the Popular and Solidarity Financial Sector", Chapter XXVIII "On Deposit Insurance", Title II "National Financial System", Book I "Monetary and Financial System" of the Codification of Monetary, Financial, Securities, and Insurance Resolutions, with the following:

"Art. 18.- Calculation base, premium, and periodicity.- Entities of the popular and solidarity financial sector will contribute to the Deposit Insurance based on deposits registered in the accounts of: demand deposits, time deposits, guarantee deposits, and restricted deposits, excluding deposits to be confirmed that appear in the balances reported by the entities to the respective control body, according to the corresponding segment, fixed premium, date, periodicity, and calculation base established in the following table:

Segment | Fixed Premium | Periodicity | Calculation Base 1 | 0.635% | Monthly | Daily Balance 2 | 0.635% | Monthly | Daily Balance 3 | 0.535% | Monthly | Monthly Balance 4 | 0.350% | Annual | Balance of December of the previous year 5 | 0.200% | Annual | Balance of December of the previous year ".

SINGLE GENERAL PROVISION.- From January 1, 2026, the coverage amounts of the Deposit Insurance of the Popular and Solidarity Financial Sector will remain in the terms established in Subsection IX "Coverage Amounts of the Deposit Insurance of the Popular and Solidarity Financial Sector", Section I "General Norms for the Operation of the Deposit Insurance of the Private Financial Sector and the Popular and Solidarity Financial Sector", Chapter XXVIII "On Deposit Insurance", Title II "National Financial System", Book I "Monetary and Financial System" of the Codification of Monetary, Financial, Securities, and Insurance Resolutions.

TRANSITIONAL PROVISIONS:

FIRST.- The Deposit Insurance, Liquidity Fund, and Private Insurance Fund Corporation (COSEDE), within a period of six (6) months, counted from the issuance of this resolution, will elaborate the methodology for the determination of the Target Fund of the Deposit Insurance of the Popular and Solidarity Financial Sector, which will be approved by the Board of Directors of COSEDE.

SECOND.- The Deposit Insurance, Liquidity Fund, and Private Insurance Fund Corporation (COSEDE), within a period of eight (8) months, counted from the issuance of this resolution, will present to this Board of Financial and Monetary Policy and Regulation, the proposal for the target level of the Deposit Insurance of the Popular and Solidarity Financial Sector, based on the methodology approved by the Board of Directors of COSEDE. The target level of the Deposit Insurance of the Popular and Solidarity Financial Sector will be fixed and reviewed annually by the Board of Financial and Monetary Policy and Regulation, based on the report sent for this effect by the Deposit Insurance, Liquidity Fund, and Private Insurance Fund Corporation (COSEDE).

FINAL PROVISION. - This resolution will enter into force from its issuance, without prejudice to its publication in the Official Register.

The publication on the institutional website and the update of the Codification of Monetary, Financial, Securities, and Insurance Resolutions are entrusted to the General Secretariat of the Central Bank of Ecuador.

COMMUNICATE AND PUBLISH. - Given in the city of Quito D.M., on December 31, 2025.

THE PRESIDENT
Mgs. Gustavo Estuardo Camacho Dávila

RESOLUTION No. JPRFM-2025-020-F
The aforementioned resolution was processed and signed by Master Gustavo Estuardo Camacho Dávila - President of the Board of Financial and Monetary Policy and Regulation, in the city of Quito D.M., on December 31, 2025.- I CERTIFY.
TECHNICAL SECRETARY
Mgs. Jennifer Mishel Carrillo Rosales