Resolution No. JPRFM-2025-018-A Designating Javier Andrés Borja Ortiz as Secretary of the Audit Committee of the Central Bank of Ecuador

RESOLUTION No. JPRFM-2025-018-A 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 by virtue of state authority shall exercise only the competencies and powers attributed to them in the Constitution and the Law;

That, Article 227 of the same states that Public Administration constitutes a service to the community governed by the principles of efficiency, quality, hierarchy, coordination, planning, among others;

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

That, Article 13 of the Organic Code of Monetary and Financial Law creates the Financial and Monetary Policy and Regulation Board, part of the Executive Function, as an organ with functional, technical, and institutional autonomy, and in its decisions, responsible for the formulation of 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, Article 17 of the aforementioned Code, in its pertinent part, determines that:

"(...) For the fulfillment of these functions, the Board shall issue regulations in matters within its competence, without altering legal provisions. The Financial and Monetary Policy and Regulation Board may issue regulations by segments, economic activities, and other criteria. It may even reform or repeal regulations from the former Monetary Policy and Regulation Board, Financial Policy and Regulation Board, or Monetary and Financial Policy and Regulation Board. All norms and policies issued by the Financial and Monetary Policy and Regulation Board in the exercise of its functions, duties, and powers must be backed by duly substantiated technical and legal reports (...)";

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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 that are necessary for the operation of the Central Bank of Ecuador (...)";

That, Article 24 of the same 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 will 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: "(...) the Financial and Monetary Policy and Regulation Board shall designate and determine the functions of the Audit Committee that will assist it in the monitoring of financial reports, internal audit, external audit, and internal control systems. 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, in Resolution No. JPRM-2025-007-G, dated July 16, 2025, which contains the "Codification of Governance Resolutions of the Monetary Policy and Regulation Board and the Central Bank of Ecuador", in Title I "Operation of the Monetary Policy and Regulation Board", Chapter II "Regulations of the Audit Committee of the Central Bank of Ecuador" is found;

That, Article 40 of the aforementioned Audit Committee Regulations establishes that the public servant designated by the Financial and Monetary Policy and Regulation Board shall act as Secretary of the Committee; and, Article 41 determines the functions of the Committee Secretary;

That, through Resolution No. JPRFM-2025-007-A, dated October 31, 2025, the Financial and Monetary Policy and Regulation Board designated Master Roberto Javier Basantes Romero as a member of the Audit Committee of the Central Bank of Ecuador, who exercises its presidency;

That, the First Transitory Provision of the Organic Reformatory Law of the Organic Code of Monetary and Financial Law determines that the members of the Financial and Monetary Policy and Regulation Board, sworn in on September 16, 2025, by the National Assembly, will continue to exercise their functions for the periods for which they were designated and will maintain their labor continuity and acquired rights;

That, through Letter No. T.233-SGJ-25-098, dated 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 and 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;

That, the Financial and Monetary Policy and Regulation Board, through ordinary session No. 008-2025, under in-person modalities, on December 23, 2025, designates the Secretary of the Audit Committee of the Central Bank of Ecuador; and,

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

RESOLVES:

Sole Article. - To designate as Secretary of the Audit Committee of the Central Bank of Ecuador Master Javier Andrés Borja Ortiz, a public servant of the Central Bank of Ecuador, who will fulfill the functions and provisions determined in the Regulations of the Audit Committee of the Central Bank of Ecuador and those derived from the assigned function.

SINGLE GENERAL PROVISION. - The General Secretariat of the Central Bank of Ecuador shall formally notify Master Javier Andrés Borja Ortiz and the Talent Administration Sub-Management regarding this designation.

SINGLE REPEALING PROVISION. - Resolution No. JPRM-2024-028-A, dated December 12, 2024, is repealed.

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

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The General Secretariat of the Central Bank of Ecuador is entrusted with its publication on the institutional website.

NOTIFY AND PUBLISH. - Given in the Metropolitan District of Quito, on December 23, 2025.

THE PRESIDENT Master Gustavo Estuardo Camacho Dávila

The resolution above was processed and signed by Master Gustavo Estuardo Camacho Dávila - President of the Financial and Monetary Policy and Regulation Board, in the Metropolitan District of Quito, on December 23, 2025.- I CERTIFY.

TECHNICAL SECRETARIAT Master Jennifer Mishel Carrillo Rosales