Regulatory Alerts2021-01-01 | JPRF-F-2021-004JPRF-F-2021-004 — Methodology for Calculating Maximum Effective Active Interest Rates
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2021-004 to establish a new methodology for calculating maximum effective active interest rates for the national financial system. The resolution sets specific maximum rates for various credit segments, including productive, microcredit, real estate, and social housing loans, with these caps taking effect on January 1, 2022. Additionally, the Board modified the regulatory framework to change the review frequency of these rates to a semi-annual basis and repealed several previous transitional provisions.
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