Regulatory Alerts2022-01-01 | JPRF-F-2022-010JPRF-F-2022-010 — Creation of Social Interest Microcredit Segment and 1% Interest Rate, Based on Presidential Decree No. 284
The Financial Policy and Regulation Board (JPRF) issued Resolution JPRF-F-2022-010 to establish a special maximum interest rate of 1% annually for social interest microcredit loans, implementing Presidential Decree No. 284. The resolution mandates BANECUADOR B.P. to secure necessary funding from the Ministry of Economy and Finance and defines this specific loan segment within the national financial system's credit portfolio regulations. Additionally, it requires BANECUADOR B.P. to publish financial inclusion indicators and instructs the Superintendency of Banks to supervise the proper use of resources and risk management for this product.
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