Regulatory Alerts2022-01-01 | JPRF-F-2022-021JPRF-F-2022-021 — Amends Resolution JPRF-F-2022-010 to require BANECUADOR B.P. to implement processes for all 1% annual microcredit projects under Executive Decree No. 284
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2022-021 to amend the Eighth General Provision of its regulatory codification, expanding the scope of obligations for BANECUADOR B.P. The resolution requires the bank to implement processes ensuring the fulfillment of objectives for all projects inserted into the 1% annual microcredit program authorized by Executive Decree No. 284, rather than limiting this requirement to specific previously named projects. Additionally, the bank must implement risk mitigation actions and publish financial inclusion indicators on its website for all projects executed under this program.
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