JPRM-2022-024-A — Approve the Organizational Chart of the Central Bank of Ecuador. Annex

MONETARY POLICY AND REGULATION BOARD

Republic of Ecuador

RESOLUTION No. JPRM-2022-024-A

THE MONETARY POLICY AND REGULATION BOARD

CONSIDERING:

That, Article 226 of the Constitution of the Republic of Ecuador stipulates that public servants and persons acting under state authority shall exercise only the competencies and powers attributed to them in the Constitution and the Law;

That, Article 227 ibid states that the Public Administration constitutes a service to the community governed by the principles of effectiveness, efficiency, quality, hierarchy, coordination, planning, among others;

That, the first paragraph of Article 303 of the Constitution of the Republic determines that the formulation of monetary, credit, exchange, and financial policies is the exclusive authority of the Executive Branch and shall be implemented through the Central Bank of Ecuador;

That, Article 26 of the Organic Monetary and Financial Code determines: "Legal nature of the Central Bank of Ecuador and specific regulations. The Central Bank of Ecuador is a public law legal entity, part of the Executive Branch, of indefinite duration, with institutional, administrative, budgetary, and technical autonomy.

The Central Bank of Ecuador, in the exercise of its functions and powers, shall be governed by the Constitution of the Republic, this Code, its statutes, regulations issued by the governing body, internal regulations, and other applicable laws regarding the matter (...);"

That, Article 27.1 of the aforementioned Code determines: "Institutional autonomy. In achieving its objectives and performing its functions, the Central Bank of Ecuador shall be an autonomous and responsible entity as provided in this Code and the Constitution of the Republic, without prejudice to its duty to coordinate necessary actions with other state bodies to fulfill its purposes.

At all times, the institutional autonomy of the Central Bank of Ecuador shall be respected, and its decisions shall respond exclusively to technical motivations that lead to the fulfillment of its functions and powers.";

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MONETARY POLICY AND REGULATION BOARD

Republic of Ecuador

RESOLUTION No. JPRM-2022-024-A Page | 2

That, Article 47 of the aforementioned Code determines: "Administrative structure. The administrative structure of the Central Bank of Ecuador shall be established in the statute approved by the Monetary Policy and Regulation Board. The statute shall be processed in accordance with the provisions of the competent governing body's regulations."

That, Article 47.1 of the aforementioned Organic Code created the Monetary Policy and Regulation Board as part of the Executive Branch, responsible for the formulation of monetary policy, and as the highest governing body of the Central Bank of Ecuador;

That, paragraph 18 of Article 47.6 of the aforementioned Code establishes that the Monetary Policy and Regulation Board has among its functions the approval of "the Statute of the Central Bank of Ecuador, and to define the regulatory framework for hiring, promotions, and the exercise of disciplinary control over the employees of the Central Bank of Ecuador;";

That, the Monetary Policy and Regulation Board, in an ordinary session with a mixed modality, on September 23, 2022, reviewed the organizational structure of the Central Bank of Ecuador submitted via Memorandum No. BCE-BCE-2022-0207-M, dated September 16, 2022, by Mgs. Jorge Ponce in his capacity as Acting General Manager; and,

In the exercise of its functions and in accordance with Article 47.7 of the Organic Monetary and Financial Code, the Monetary Policy and Regulation Board,

RESOLVES

Art. 1.- Approve the organizational chart of the Central Bank of Ecuador and direct the General Management to prepare the corresponding institutional management documents based on this chart.

SINGLE GENERAL PROVISION.- The General Management of the Central Bank of Ecuador shall, within 30 days, submit to the Monetary Policy and Regulation Board the schedule for compliance with this resolution.

FINAL PROVISION.- This resolution shall take effect from its issuance, without prejudice to its publication in the Official Register.

The Directorate of Document Management and Archives of the Central Bank of Ecuador is tasked with publishing it on the institutional website.

NOTIFIED.- Given in the Metropolitan District of Quito, on September 23, 2022.

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MONETARY POLICY AND REGULATION BOARD

Republic of Ecuador

RESOLUTION No. JPRM-2022-024-A Page | 3

THE PRESIDENT

(Signature) Dr. TATIANA MARIBEL RODRÍGUEZ CERÓN

The aforementioned resolution was signed by Dr. Tatiana Maribel Rodríguez Cerón - President of the Monetary Policy and Regulation Board, in the Metropolitan District of Quito, on September 23, 2022.- I HEREBY CERTIFY.

ADMINISTRATIVE SECRETARY

(Signature) Lawyer MARÍA ALEXANDRA GUERRERO DEL POZO