Regulatory Alerts2024-01-01 | JPRF-F-2024-0120Resolution JPRF-F-2024-0120: Financial Relief Measures for Public, Private, and Popular and Solidarity Economy Sectors until May 31, 2025
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-F-2024-0120 to establish an extraordinary and temporary financial relief mechanism for public, private, and popular and solidarity economy financial sectors, valid until May 31, 2025. The resolution mandates the refinancing or restructuring of credit operations with overdue balances between August 10, 2023, and the resolution's issuance date, allowing for grace periods, fee waivers, and new productive loans. Additionally, it permits financial entities to constitute new generic provisions representing up to 5% of gross portfolio for the 2024-2025 fiscal years to support technical equity.
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