Regulatory Alerts2024-01-01 | JPRF-F-2024-0104Resolution JPRF-F-2024-0104: Reforming Interest Rate Regulations for Real Estate Credit
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2024-0104 to reform the regulations governing active interest rates for the real estate credit segment. The resolution replaces the previous fixed rate cap with a flexible system based on the previous month's reference rate plus two standard deviations, aiming to reactivate housing credit and promote economic growth. A transitional provision sets the maximum interest rate at 11.50% until June 30, 2024, after which the new flexible calculation method takes effect.
Share