Resolution No. JPRFM-2025-010-G Approves the Reform Project to the Organic Statute of Process-Based Organizational Management of the Central Bank of Ecuador

RESOLUTION No. JPRFM-2025-010-G
FINANCIAL AND MONETARY POLICY AND REGULATION BOARD

CONSIDERING:

That, Article 226 of the Constitution of the Republic of Ecuador prescribes that public servants and persons acting by virtue of a state power shall exercise only the competencies and faculties attributed to them in the Constitution and the Law;

That, Article 227 of the same instrument states that Public Administration constitutes a service to the community governed by the principles of efficiency, quality, hierarchy, coordination, planning, among others;

That, the first paragraph of Article 303 of the constitutional norm determines that the formulation of monetary, credit, exchange, and financial policies is an exclusive faculty of the Executive Branch and will 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 the Official Register No. 142;

That, 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, and institutional autonomy, and in its decisions, 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, Article 17 of the aforementioned Code, in its pertinent part, determines that: "(...) For the fulfillment of these functions, the Board shall issue regulations in matters within its competence, without altering legal provisions. The Financial and Monetary Policy and Regulation Board may issue regulations by segments, economic activities, and other criteria. It may even reform or repeal regulations from the former Monetary Policy and Regulation Board, the Financial Policy and Regulation Board, or the Monetary and Financial Policy and Regulation Board. All norms and policies issued by the Financial and Monetary Policy and Regulation Board in the exercise of its functions, duties, and faculties must be

RESOLUTION No. JPRFM-2025-010-G backed by technical and legal reports duly substantiated (...)";

That, numeral 15 of Article 19 of the same Code, regarding the specific functions of the Board in the monetary sphere, among others, establishes: "15. Approve the Statute of the Central Bank of Ecuador, and define the regulatory framework for hiring, promotions, and the exercise of disciplinary control over the employees of the Central Bank of Ecuador (...)";

That, Article 25.2 of the same instrument states: "The Technical Secretariat of the Financial and Monetary Policy and Regulation Board shall be exercised by the Central Bank of Ecuador (...)";

That, Article 25.3 of the same legal body determines the functions of the Technical Secretariat of the Financial and Monetary Policy and Regulation Board;

That, Article 26 supra provides that: "The Central Bank of Ecuador is a public law legal entity, part of the Executive Branch, of indefinite duration, with institutional, administrative, budgetary, and technical autonomy. The Central Bank of Ecuador does not perform public banking functions.
The Central Bank of Ecuador, in the exercise of its functions and attributes, shall be governed by the Constitution of the Republic, this Code, its statute, the regulations issued by the governing body, internal regulations, and other applicable laws regarding the matter (...)";

That, Article 27.1 of the Organic Monetary and Financial Code states: "In achieving its objectives and performing its functions, the Central Bank of Ecuador shall be an autonomous and responsible entity as provided in this Code and the Constitution of the Republic, without prejudice to its duty to coordinate necessary actions with other State bodies to fulfill its purposes. At all times, the institutional autonomy of the Central Bank of Ecuador shall be respected, and its decisions shall respond to exclusively technical motivations that lead to the fulfillment of its functions and attributes";

That, Article 47 of the same instrument indicates that: "The administrative structure of the Central Bank of Ecuador shall be established in the statute approved by the Monetary Policy and Regulation Board. The statute must be processed in accordance with the provisions of the competent regulatory body's regulations";

That, General Provision Twenty-Ninth of the same instrument states: "In the current legislation where mention is made, indiscriminately, of the Monetary and Financial Policy and Regulation Board, the Monetary Policy and Regulation Board; or the Financial Policy and Regulation Board, replace and understand as 'Financial and Monetary Policy and Regulation Board'";

That, through Resolution No. JPRM-2025-007-G, dated July 16, 2025, the former Monetary Policy and Regulation Board issued the "Codification of Governance Resolutions of the Monetary Policy and Regulation Board and the Central Bank of Ecuador", which includes Section 1 "Organic Statute of Process-Based Organizational Management of the Central Bank of Ecuador", of Chapter I "Government of the Central Bank of Ecuador", of Title II "Government Policies of the Central Bank of Ecuador";

That, First Transitional 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, will continue to exercise their functions for the periods for which they were designated and will maintain their labor continuity and acquired rights;

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 designation of the Members of the Financial and Monetary Policy Regulation Board was sent; as well as the temporality of their stay within the initial period;

That, the Plenary of the National Assembly, on September 16, 2025, designated 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, the Financial and Monetary Policy and Regulation Board, through ordinary session No. 006-2025, under mixed modalities, on November 27, 2025, reviewed the proposal sent via Memorandum No. BCE-BCE-2025-0277-M, dated November 24, 2025, by the General Manager of the Central Bank of Ecuador to the President of the Financial and Monetary Policy and Regulation Board; as well as Technical Report No. BCE-SATH-535-2025, dated November 23, 2025, and Legal Report No. BCE-GJ-063-2025, dated November 23, 2025; and,

In exercise of its functions and in attention to Article 24 of the Organic Monetary and Financial Code, the Financial and Monetary Policy and Regulation Board,

RESOLUTION No. JPRFM-2025-010-G
RESOLVES:

Article 1.- Approve the reform project to the Organic Statute of Process-Based Organizational Management of the Central Bank of Ecuador, contained in Section 1, of Chapter I "Government of the Central Bank of Ecuador", of Title II "Government Policies of the Central Bank of Ecuador" of Resolution No. JPRM-2025-007-G, dated July 16, 2025, which contains the Codification of Governance Resolutions of the Monetary Policy and Regulation Board and the Central Bank of Ecuador, whose text is attached as an annex to this resolution.

Article 2.- Order the General Manager of the Central Bank of Ecuador to send the reform project to the Organic Statute of Process-Based Organizational Management of the Central Bank of Ecuador, attached to this resolution, to the Ministry of Labor for validation and approval.

SINGLE GENERAL PROVISION. - Once the Ministry of Labor validates and approves the modifications incorporated in the Organic Statute of Process-Based Organizational Management of the Central Bank of Ecuador and other institutional management instruments of the Central Bank of Ecuador, the General Manager of the Central Bank of Ecuador will send to this Board the draft resolution for its approval and issuance.

SINGLE REPEALING PROVISION.- Resolution No. JPRFM-2025-002-G, dated September 22, 2025, is repealed.

FINAL PROVISION. - This resolution shall enter into force from its issuance, without prejudice to its publication in the Official Register.

The publication on the institutional website is entrusted to the General Secretariat of the Central Bank of Ecuador.

NOTIFY AND PUBLISH. - Given in the city of Quito D.M., on November 27, 2025.

THE PRESIDENT
Master Gustavo Estuardo Camacho Dávila

The resolution above was processed and signed by Master Gustavo Estuardo Camacho Dávila - President of the Financial and Monetary Policy and Regulation Board, in the city of Quito D.M., on November 27, 2025.- I CERTIFY.

TECHNICAL SECRETARIAT
Licentiate Julio Fernando Moya Jarrín