Regulatory Alerts2023-01-01 | JPRF-F-2023-070Resolution JPRF-F-2023-070: Reforming Interest Rate Regulations to Establish a Flexible System of Maximum Effective Active Rates for Corporate and Business Productive Credit Subsegments
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2023-070 to replace static maximum interest rates with a flexible system for corporate and business productive credit subsegments. This reform establishes that maximum effective active rates will be calculated monthly based on the previous month's reference rate plus two standard deviations, aiming to enhance price efficiency and promote economic growth. The new regulations take effect on July 1, 2023, while maintaining existing rates for all other credit segments.
Share