Resolution JPRFM-2025-007-A: Designation of Magister Roberto Javier Basantes Romero as Member and President of the Audit Committee of the Central Bank of Ecuador

RESOLUTION NO. JPRFM-2025-007-A THE FINANCIAL AND MONETARY POLICY AND REGULATION BOARD

CONSIDERING:

That, Article 226 of the Constitution of the Republic of Ecuador prescribes 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 of the same Constitution states that Public Administration constitutes a service to the community governed by principles of efficiency, quality, hierarchy, coordination, planning, among others;

That, on October 13, 2025, the Organic Reform Law of the Organic Code of Monetary and Financial Law was published in the Sixth Supplement of Official Register No. 142;

That, the reformed Article 13 of the Organic Code of Monetary and Financial Law creates the Financial and Monetary Policy and Regulation Board, part of the Executive Branch, as an organ with functional, technical, institutional, and decision-making autonomy, responsible for formulating monetary, credit, financial, securities, insurance, and prepaid comprehensive health care services policy and regulation. The Financial and Monetary Policy and Regulation Board shall be the highest governing body of the Central Bank of Ecuador;

That, numeral 12 of Article 19 of the same Code, regarding the specific functions of the Board in the monetary sphere, among others, establishes: “12. Establish and regulate the functioning of the committees necessary for the operation of the Central Bank of Ecuador (...)”;

That, Article 24 of the same Code provides that the acts of the Financial and Monetary Policy and Regulation Board enjoy the presumption of legality and shall be expressed through resolutions that have mandatory force, which shall govern from their publication in the Official Register, or from the date of their issuance when so determined by the Board, in accordance with the subject matter;

That, Article 57.2 supra establishes that: “(...) the Financial and Monetary Policy and Regulation Board shall designate and determine the functions of the Audit Committee that will assist it in the oversight of financial reports, internal audit, external audit, and internal control systems.

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It shall be composed of three members, one (1) of whom shall be a member of the Financial and Monetary Policy and Regulation Board, who shall preside over it. The other two (2) members shall be designated by the aforementioned Board, who shall have relevant experience in accounting or auditing and must meet the requirements established by the Board (...)”;

That, Chapter II “Regulations of the Audit Committee of the Central Bank of Ecuador,” of Title I “Operation of the Monetary Policy Board,” of Resolution No. JPRM-2025-007-G, of July 16, 2025, which contains the “Codification of Governance Resolutions of the Monetary Policy Board and the Central Bank of Ecuador”;

That, Article 31 of the aforementioned Audit Committee Regulations establishes: “The Audit Committee of the Central Bank of Ecuador shall be composed of three members with voice and vote, designated by the Monetary Policy Board, at least two (2) of whom shall have relevant experience in accounting or auditing, and one (1) of whom may be a member of the Monetary Policy Board (...)”;

That, Article 32 of the same Regulations, in its pertinent part, establishes: “(...) The member belonging to the Monetary Policy Board while serving in said organ shall be part of the Audit Committee”;

That, Article 37 of the aforementioned regulations determines: “In the event that a member of the Monetary Policy Board is designated as a member of the Audit Committee, this person shall act as President of the Audit Committee of the Central Bank of Ecuador (...)”;

That, through Office No. T.233-SGJ-25-098, of September 5, 2025, signed by the Constitutional President of the Republic, addressed to the President of the National Assembly, the list of candidates for the designation of the Members of the Financial and Monetary Policy Regulation Board was sent; as well as the temporality of their stay within the initial period;

That, the Plenary of the National Assembly, on September 16, 2025, designated and swore in the members of the Financial and Monetary Policy and Regulation Board, in the persons of: Gustavo Estuardo Camacho Dávila; Silvia Daniela Moya Arteta; Roberto Javier Basantes Romero; María Isabel Camacho Cárdenas; and, Jeniffer Nathaly Rubio Abril;

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That, the Financial and Monetary Policy and Regulation Board, through ordinary session No. 005-2025, under mixed modality, on October 31, 2025, reviewed the proposal sent via Memorandum No. BCE-BCE-2025-0243-M, of October 29, 2025, by the General Manager of the Central Bank of Ecuador to the President of the Financial and Monetary Policy and Regulation Board, as well as the Legal Report No. BCE-GJ-051-2025, of October 29, 2025; and,

In exercise of its functions and in accordance with Article 24 of the Organic Code of Monetary and Financial Law, the Financial and Monetary Policy and Regulation Board,

RESOLVES:

Article 1.- Designate Magister Roberto Javier Basantes Romero as a member of the Audit Committee of the Central Bank of Ecuador, who shall exercise the presidency thereof, in accordance with what is provided in Article 57.2 of the Organic Code of Monetary and Financial Law.

Magister Roberto Javier Basantes Romero shall act as a member of the Audit Committee of the Central Bank of Ecuador while he serves as a member of the Financial and Monetary Policy and Regulation Board.

FINAL PROVISION. - This resolution shall enter into force from its issuance, without prejudice to its publication in the Official Register.

The General Secretariat of the Central Bank of Ecuador is tasked with publishing it on the institutional website.

NOTIFY AND PUBLISH. - Given in the city of Cuenca, on October 31, 2025.

THE PRESIDENT Mgs. Gustavo Estuardo Camacho Dávila

The resolution above was processed and signed by Magister Gustavo Estuardo Camacho Dávila - President of the Financial and Monetary Policy and Regulation Board, in the city of Cuenca on October 31, 2025.- I CERTIFY.

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TECHNICAL SECRETARIAT Lcdo. Julio Fernando Moya Jarrín