Regulatory Alerts2024-01-01 | JPRF-F-2024-0102Resolution No. JPRF-F-2024-0102: Reforms to Section V on Risk Asset Provisions and Section XXVIII on the Popular and Solidarity Economy
The Financial Policy and Regulation Board of Ecuador issued Resolution No. JPRF-F-2024-0102 to amend regulations governing the Popular and Solidarity Financial Sector. The resolution mandates that the Superintendence of the Popular and Solidarity Economy establish accounting rules for determining surplus in Savings and Credit Cooperatives and removes obsolete transitional provisions. Additionally, it grants fully provisioned entities specific operational privileges, such as opening branches, distributing surplus, and acquiring real estate, subject to regulatory authorization.
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