Regulatory Alerts2023-01-01 | JPRF-G-2023-060Resolution No. JPRF-G-2023-060 Approves the Budget of BANECUADOR B.P. for the 2023 Fiscal Year
The Financial Policy and Regulation Board (JPRF) issued Resolution No. JPRF-G-2023-060 to formally approve the 2023 institutional budget for BANECUADOR B.P., covering the period from January 1 to December 31, 2023. The resolution mandates that the bank's administration utilize resources efficiently, prioritizing investments that ensure operational efficiency and compliance with constitutional mandates, while accounting for the ongoing merger with the National Financial Corporation. Additionally, it requires the immediate regularization of any prior budgetary movements, the submission of the approved budget to the Ministry of Economy and Finance and the National Assembly within 30 days, and specific coordination regarding credit subsidy products.