Regulatory Alerts2022-09-29 | JPRF-F-2022-038Added · Updated
Resolution No. JPRF-F-2022-038 — Reforming the Target Level and Contribution Percentage to the Deposit Insurance Fund of the Private Financial System
The Financial Policy and Regulation Board of Ecuador issued Resolution No. JPRF-F-2022-038 to amend the regulatory framework governing the Deposit Insurance Fund for the private financial sector. The resolution increases the fund's target coverage level to 17.23% of covered deposits and reinstates a 0.6% annual fixed premium when the fund's equity falls below 13% of covered deposits. Additionally, it establishes specific contribution obligations for new private financial entities entering the market based on reports from the Deposit Insurance Corporation.
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