Regulatory Alerts2024-01-01 | JPRF-F-2024-0134JPRF-F-2024-0134 — Expansion of the Extraordinary and Temporary Financial Relief Mechanism Applicable to the National Financial System
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2024-0134 to expand the extraordinary and temporary financial relief mechanism to the popular and solidary financial sector, aligning it with existing provisions for the public and private sectors. This resolution mandates that financial entities in all three sectors consider case-by-case refinancing or restructuring of credit operations with overdue balances between August 10, 2023, and December 31, 2024, upon debtor request and agreement. The measure serves to provide economic relief following the national electricity emergency and implements requirements set forth by the Organic Law for Financial Relief and Economic Strengthening.
Share