Regulatory Alerts2025-01-01 | JPRFM-2025-012-FResolution JPRFM-2025-012-F: Repeal of Section III on Public Financial Sector Capital Budget
The Financial and Monetary Policy and Regulation Board (JPRFM) issued Resolution JPRFM-2025-012-F to repeal the regulatory section governing the approval and execution of budgets for public financial sector entities. This action implements a legislative change that removed the Board's competence to approve annual budgets for these entities, transferring such authority to their respective boards of directors. The resolution includes a transitional provision requiring pending budget processes to be resolved according to the new distribution of responsibilities.
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