Resolution No. JPRFM-2026-040-F: Review of the Semi-Annual Report on Activities and Results of the Deposit Insurance System Management as of June 30, 2026

RESOLUTION No. JPRFM-2026-040-F
THE 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 under 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 states that Public Administration constitutes a service to the community governed by the principles of effectiveness, 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 the exclusive faculty of the Executive Function and will be implemented through the Central Bank of Ecuador;

That, on October 13, 2025, the Organic Law Reforming the Organic Code of Monetary and Financial Law was published in the Sixth Supplement of the Official Register No. 142;

That, Article 13 of the Organic Code of Monetary and Financial Law creates the Financial and Monetary Policy and Regulation Board, part of the Executive Function, 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. The Financial and Monetary Policy and Regulation Board will be the highest governing body of the Central Bank of Ecuador;

That, Article 17 of the aforementioned Code, in its relevant part, determines that:

"(...) 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 supported by duly substantiated technical and legal reports (...)";

That, Article 18 of the same establishes the specific functions of the Financial and Monetary Policy and Regulation Board, in the financial sphere, especially in its number 11, which authorizes this Institution to review reports that, within the scope of its competencies, are presented by the Corporation of Deposit Insurance, Liquidity Fund, and Private Insurance Funds;

That, Article 24 of the same Code provides that the acts of the Financial and Monetary Policy and Regulation Board enjoy the presumption of legality and will be expressed through resolutions that will have binding force, which will govern from their publication in the Official Register, or from the date of their issuance when so determined by the Board, in accordance with the subject matter;

RESOLUTION No. JPRFM-2026-040-F

That, Article 25.3 establishes as its functions to provide technical and administrative support to the Financial and Monetary Policy and Regulation Board and any others assigned to it by said Board;

That, General Provision Twenty-Ninth of the Organic Code of Monetary and Financial Law states: "In current legislation where mention is made, indistinctly, 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, Article 8 of Subsection II "Corporate Governance", Section I "General Norms for the Operation of the Deposit Insurance System of the Private Financial Sector and the Popular and Solidarity Financial Sector", Chapter XXVIII "On Deposit Insurance", Title II "National Financial System", Book I "Monetary and Financial System" of the Codification of Monetary, Financial, Securities, and Insurance Resolutions provides that the administration of the Corporation of Deposit Insurance, Liquidity Fund, and Private Insurance Funds, with the approval of the institutional Board, will submit for the knowledge of the Financial and Monetary Policy and Regulation Board the activities and results of the management of the deposit insurance system on a semi-annual basis;

That, First Transitional Provision of the Organic Law Reforming the Organic Code of Monetary and Financial Law 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 and 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;

That, through Office No. COSEDE-COSEDE-2026-0305-OFFICE, dated August 6, 2026, the General Manager of the Corporation of Deposit Insurance, Liquidity Fund, and Private Insurance Funds (COSEDE), in the capacity of Secretary of the COSEDE Board, submitted Report No. COSEDE-CMSF-ITV-2026-042, dated July 27, 2026, regarding the activities and results of the management of the deposit insurance system, as of June 30, 2026;

That, the aforementioned Report No. COSEDE-CMSF-ITV-2026-042 was reviewed and approved by the Board of Directors of the Corporation of Deposit Insurance, Liquidity Fund, and Private Insurance Funds, in Ordinary Session No. 007-2026-O, on July 30, 2026, through Resolution No. COSEDE-DIR-2026-030;

That, the Financial and Monetary Policy and Regulation Board, in Ordinary Session No. 019-2026, under electronic (asynchronous) modality, on September 11, 2026, reviewed the proposal submitted through Memorandum No. BCE-BCE-2026-0387-M, dated September 8, 2026, 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, Legal Report No. BCE-GJ-091-2026, dated September 8, 2026; and,

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

RESOLVES:

Sole Article. – Review Report No. COSEDE-CMSF-ITV-2026-042, which contains the semi-annual report on the activities and results of the management of the Deposit Insurance System, as of June 30, 2026, issued by the Board of Directors of the Corporation of Deposit Insurance, Liquidity Fund, and Private Insurance Funds, in accordance with its specific functions in the financial sphere.

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

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

COMMUNICATE AND PUBLISH. - Given in the city of Quito D.M., on September 11, 2026.

THE PRESIDENT
Mgs. Gustavo Estuardo Camacho Dávila

The resolution preceding 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 September 11, 2026.- I CERTIFY.

TECHNICAL SECRETARIAT
Abg. Ninoska Geovanna Ceballos Pin