Regulatory Alerts2022-01-01 | JPRM-2022-023-MJPRM-2022-023-M — Policy for the Management of Remaining Local Investment Operations
The Monetary and Financial Policy Board issued Resolution JPRM-2022-023-M to establish the management framework for the Central Bank of Ecuador's remaining local investment portfolios following the repeal of previous liquidity investment regulations. The resolution mandates that five existing portfolios be administered independently until maturity, maintains specific contingent instruments for public housing financing, and imposes a 10% annual penalty on overdue investments unless a different rate was contractually agreed upon. Additionally, the Central Bank is required to actively recover invested funds, report defaults to the Board and financial control bodies, and formally repeal the previous Chapter IV regarding liquidity investment policies.