Regulatory Alerts2023-01-01 | JPRM-2023-002-MJPRM-2023-002-M — Reforming the Regulation on Reserve Requirements and Liquidity Reserves
The Monetary Policy and Regulation Board of Ecuador issued Resolution JPRM-2023-002-M to reform the regulation governing reserve requirements and liquidity reserves for public, private, and popular and solidarity financial sectors. The resolution updates the calculation methodology for reserve requirements based on weekly average daily balances, establishes specific monitoring and compensation periods for deficiencies, and defines sanctions for non-compliance. It also implements a progressive application schedule for reserve percentages for the 2023 fiscal year, with specific rates varying by entity type and asset size.
Share