Regulatory Alerts2023-01-01 | JPRF-F-2023-094Resolution JPRF-F-2023-094: Reforming Deposit Insurance Norms for Fixed Premium and Extraordinary Contribution for 2024
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2023-094 to amend the General Norms for the Operation of the Deposit Insurance System for 2024. The resolution establishes a fixed premium rate of 0.06% for private financial sector entities and introduces an extraordinary contribution mechanism of up to 1% when the insurance fund's coverage ratio falls below 13%. These measures aim to maintain the fund's target level of 17.23% and ensure the financial stability of the deposit insurance system.
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