Regulatory Alerts2025-01-01 | JPRFM-2025-003-AJPRFM-2025-003-A — Appoint Julio Fernando Moya Jarrín as Ad Hoc Secretary and Ratify Elections of Board President and Substitute President
The Financial and Monetary Policy and Regulation Board of Ecuador issued Resolution No. JPRFM-2025-003-A to appoint Julio Fernando Moya Jarrín as Ad Hoc Secretary for its October 15, 2025 session. The resolution formally ratifies the two-year terms of Magister Gustavo Estuardo Camacho Dávila as President and Magister María Isabel Camacho Cárdenas as Substitute President, aligning with the prior organizational mandate of Resolution No. JPRFM-2025-001-A. This administrative act solidifies the board’s leadership structure following the National Assembly’s September 2025 appointments and the subsequent legal framework established by the reformed Organic Monetary and Financial Code.
RESOLUTION No. JPRFM-2025-003-A THE FINANCIAL AND MONETARY POLICY AND REGULATION BOARD CONSIDERING: That, Article 226 of the Constitution of the Republic of Ecuador provides: “(...) 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. They shall have the duty to coordinate actions to fulfill their purposes (...)”; That, the first clause of Article 303 of the Constitution of the Republic of Ecuador determines that the formulation of monetary, credit, exchange, and financial policies is an exclusive power of the Executive Branch and shall be implemented through the Central Bank of Ecuador; That, on October 13, 2025, the Organic Law Reforming the Organic Monetary and Financial Code was published in the Sixth Supplement of Official Register No. 142; That, the reformed Article 13 of the Organic Monetary and Financial Code 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 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, the same Article 13 of the aforementioned Organic Monetary and Financial Code determines that the Financial and Monetary Policy and Regulation Board shall elect from among its members a President and a Substitute President, for a two-year term; That, the First Transitory Provision of the Organic Law Reforming the Organic Monetary and Financial Code determines that the members of the Financial and Monetary Policy and Regulation Board, sworn in on September 16, 2025 by the National Assembly, shall continue to exercise their functions for the periods for which they were appointed; That, through Office 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 appointment of the Members of the Financial and Monetary Policy and Regulation Board was sent, as well as the duration of their stay within the initial term; That, the Plenary of the National Assembly, on September 16, 2025, appointed 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, through Resolution No. JPRFM-2025-001-A, dated September 17, 2025, the Financial and Monetary Policy and Regulation Board elected Magister Gustavo Estuardo Camacho Dávila as President of the Financial and Monetary Policy and Regulation Board and Magister María Isabel Camacho Cárdenas as Substitute President of the Financial and Monetary Policy and Regulation Board; That, the Members of the Financial and Monetary Policy and Regulation Board in an extraordinary session convened for October 15, 2025, reviewed and approved the following Resolution; and, In exercise of their functions and in accordance with Article 24 of the Organic Monetary and Financial Code, the Financial and Monetary Policy and Regulation Board: RESOLVES: Article 1.- Appoint Julio Fernando Moya Jarrín as Ad Hoc Secretary to act in the present session. Article 2.- Ratify the election of Magister Gustavo Estuardo Camacho Dávila as President of the Financial and Monetary Policy and Regulation Board, for a two-year term, in accordance with Article 2 of Resolution No. JPRFM-2025-001-A, dated September 17, 2025. Article 3.- Ratify the election of Magister María Isabel Camacho Cárdenas as Substitute President of the Financial and Monetary Policy and Regulation Board, for a two-year term in accordance with Article 3 of Resolution No. JPRFM-2025-001-A, dated September 17, 2025. FINAL PROVISION. - This Resolution shall take effect as of the present date, without prejudice to its publication in the Official Register.
COMMUNICATE AND PUBLISH. - Given in the Metropolitan District of Quito, on October 15, 2025. Magister Gustavo Estuardo Camacho Dávila MEMBER OF THE FINANCIAL AND MONETARY POLICY AND REGULATION BOARD Magister María Isabel Camacho Cárdenas MEMBER OF THE FINANCIAL AND MONETARY POLICY AND REGULATION BOARD Specialist Silvia Daniela Moya Arteta MEMBER OF THE FINANCIAL AND MONETARY POLICY AND REGULATION BOARD Magister Roberto Javier Basantes Romero MEMBER OF THE FINANCIAL AND MONETARY POLICY AND REGULATION BOARD PhD. Jeniffer Nathaly Rubio Abril MEMBER OF THE FINANCIAL AND MONETARY POLICY AND REGULATION BOARD The Members of the Financial and Monetary Policy and Regulation Board issued and signed the preceding Resolution in the Metropolitan District of Quito, on October 15, 2025.- I CERTIFY.