Regulatory Alerts2023-01-01 | JPRF-F-2023-074Resolution JPRF-F-2023-074: Reforming the Norm for the Segmentation of Popular and Solidarity Financial Sector Entities
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2023-074 to reform the segmentation norms for popular and solidarity financial entities to enhance legal certainty and operational clarity. The resolution updates Article 1 to define segments based on asset balances and modifies Article 2 to establish an annual update cycle effective June 1, while clarifying transition rules for entities moving to lower segments. Additionally, it mandates that the Control Body notify the Deposit Insurance Corporation of segmentation changes by June 10 each year, ensuring timely adjustments to deposit insurance and liquidity fund coverage.
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