Regulatory Alerts2024-01-01 | JPRF-F-2024-0119Resolution JPRF-F-2024-0119: Reforming the Norm for the Exclusion and Transfer of Assets and Liabilities
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2024-0119 to reform the regulatory framework governing the exclusion and transfer of assets and liabilities (ETAP) for financially unviable entities. The resolution establishes detailed procedures for temporary administrators to coordinate with control bodies and COSEDE to execute ETAP processes, including priority rules for deposit coverage and timelines for final liquidation. It also grants control bodies the authority to issue temporary exceptions to general norms and mandates internal regulatory updates by banking and popular economy superintendencies to facilitate these processes.
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