Regulatory Alerts2026-01-01 | JPRFM-2026-025-MResolution JPRFM-2026-025-M Approving the Reform of Section 1 on Opening Current Accounts at the Central Bank of Ecuador
The Financial and Monetary Policy and Regulation Board issued Resolution JPRFM-2026-025-M to amend the Central Bank of Ecuador's regulations by expanding Section 1 to cover both the opening and closing of current accounts. The resolution establishes specific procedures for account closure initiated by private entities, mandated by the Public Finance Regulatory Entity for public sector accounts, or executed ex officio by the Central Bank under conditions of inactivity or tax suspension. Additionally, transitional provisions require the Central Bank to notify the Ministry of Economy and Finance regarding immobilized public accounts and update its internal procedures for account closure within ninety days.
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