Resolution No. JPRF-G-2022-056 — Approves the Budget of the National Corporation of Popular and Solidarity Finance for the 2023 Fiscal Year

Resolution No. JPRF-G-2022-056
THE FINANCIAL POLICY AND REGULATION BOARD
CONSIDERING:
That, Article 226 of the Constitution of the Republic of Ecuador provides: "State institutions, their agencies, dependencies, 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 for the fulfillment of their purposes and to make effective the enjoyment and exercise of the rights recognized in the Constitution."; That, Article 309 of the Constitution of the Republic stipulates that entities regulating the national financial system shall be responsible for "preserving its security, stability, transparency, and solidity."; That, Article 310 of the Magna Carta mandates that: "The public financial sector shall have as its purpose the sustainable, efficient, accessible, and equitable provision of financial services. The credit it grants shall be oriented preferentially to increase the productivity and competitiveness of productive sectors that allow achieving the objectives of the Development Plan and of the less favored groups, in order to promote their active inclusion in the economy"; That, Article 13 of the Organic Code of Monetary and Financial Affairs, Book I, created the Financial Policy and Regulation Board as part of the Executive Function, responsible for the formulation of credit, financial, securities, insurance, and prepaid health service regulation policy; That, Article 14.1, letter a, number 14 ibid., states that it is a faculty of the Financial Policy and Regulation Board: "To annually approve the budget of the entities of the public financial sector, its reforms, as well as to regulate its execution; (...)"; That, with Resolution No. JPRF-G-2022-011 of January 6, 2022, the Financial Policy and Regulation Board approved the budget for the 2022 fiscal year of the National Corporation of Popular and Solidarity Finance; That, the Financial Policy and Regulation Board, on September 29, 2022, issued Resolution No. JPRF-F-2022-037 which prescribes the regulation applicable for the stage of the budget cycle regarding the approval of the budget draft; That, through Letter No. CONAFIPS-CONAFIPS-2022-1409-OFI of November 29, 2022, addressed to the Financial Policy and Regulation Board, the Acting General Manager of the National Corporation of Popular and Solidarity Finance, Eng. Ismael Leonidas Espinosa Gallardo, requested that the budget draft of the National Corporation of Popular and Solidarity Finance for the 2023 fiscal year be "submitted for knowledge and approval to the members of the Financial Policy and Regulation Board";

Resolution No. JPRF-G-2022-056

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That, the Technical Secretary of the Financial Policy and Regulation Board, through Memorandum No. JPRF-SETEC-2022-0093-M of December 28, 2022, submits to the President of the Board the following reports:
i. Technical Report No. JPRF-CT-2022-0046 of December 27, 2022, considering the favorable pronouncement of the members of the Board of Directors of the National Corporation of Popular and Solidarity Finance in Extraordinary Board Session No. 109, held on November 28, 2022, and the review of the figures presented through Letter No. CONAFIPS-CONAFIPS-2022-1409-OFI and its annexes by the National Corporation of Popular and Solidarity Finance to the Financial Policy and Regulation Board, it is recommended to approve the budget draft for the 2023 fiscal year.
ii. Legal Report No. JPRF-CJ-2022-0057 of December 28, 2022 concludes that it corresponds to the Financial Policy and Regulation Board to approve the budget of the National Corporation of Popular and Solidarity Finance for the 2023 fiscal year, which was sent by its General Manager through Letter No. CONAFIPS-CONAFIPS-2022-1409-OFI of November 29, 2022, in accordance with Article 14.1, numeral 14, literal a. of the Organic Code of Monetary and Financial Affairs, Book I.
That, the Financial Policy and Regulation Board, in an extraordinary session convened by technological means on December 28, 2022, and carried out via video conference on December 29, 2022, reviewed Memorandum No. JPRF-SETEC-2022-0093-M of December 28, 2022, issued by the Technical Secretary of the Board; as well as Technical Report No. JPRF-CT-2022-0047 and Legal Report No. JPRF-CJ-2022-0056 of December 27 and 28, 2022, issued by the Legal Coordination and Technical Coordination of the aforementioned Board, and the corresponding draft Resolution; That, the Financial Policy and Regulation Board, in an extraordinary session convened by technological means on December 28, 2022, and carried out via video conference on December 29, 2022, reviewed and approved the following Resolution; and, In exercise of its functions, RESOLVES:
SINGLE ARTICLE.- Approve the budget of the National Corporation of Popular and Solidarity Finance for the fiscal year 2023, under the terms indicated by the General Manager in Letter No. CONAFIPS-CONAFIPS-2022-1409-OFI of November 29, 2022, which are derived from the Annex that forms part of this Resolution.
GENERAL PROVISIONS
FIRST.- The legal representative of the National Corporation of Popular and Solidarity Finance shall be responsible, within the framework of the Law, for the execution of the budget.

Resolution No. JPRF-G-2022-056

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SECOND.- It is ordered that the National Corporation of Popular and Solidarity Finance submit the approved budget for the 2023 fiscal year to the Ministry of Economy and Finance and to the National Assembly within a term of 30 days, counted from the issuance of this resolution, in compliance with what is established in Articles 112 of the Organic Code of Public Planning and Public Finance and 94 of its General Regulation. FINAL PROVISION.- This Resolution shall enter into force from the present date, without prejudice to its publication in the Official Register, and shall be published on the institutional website of the Financial Policy and Regulation Board within a maximum term of two days from its issuance. NOTIFY.- Given in the Metropolitan District of Quito, on December 29, 2022. THE PRESIDENT, Mgs. María Paulina Vela Zambrano The preceding Resolution was processed and signed by Master María Paulina Vela Zambrano, President of the Financial Policy and Regulation Board, in the Metropolitan District of Quito, on December 29, 2022.- I CERTIFY. TECHNICAL SECRETARY Dr. Nelly Arias Zavala

Resolution No. JPRF-G-2022-056

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ANNEX
Source: Letter No. CONAFIPS-CONAFIPS-2022-1409-OFI of November 29, 2022