Regulatory Alerts2021-01-01 | JPRF-F-2021-008JPRF-F-2021-008 — Reform of the Number of Days for Private Banking Delinquency Counting and the Provision Deferral Process
The Financial Policy and Regulation Board (JPRF) issued Resolution JPRF-F-2021-008 to extend and modify temporary regulatory measures for Ecuador's private banking sector in response to the economic impact of the COVID-19 pandemic. The resolution extends the deadline for transferring non-performing loans to delinquent accounts from 30 days to 61 days until June 30, 2022, and further phases this timeline down to 46 days and 31 days in the subsequent quarters of 2022. Additionally, it updates the extraordinary mechanism for provision deferrals and extends the validity of generic provision requirements to June 30, 2022, to support financial stability and credit recovery.
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