The three months term granted by the Policy Board of Monetary and Financial Regulation finishes on July 1, so the eight largest banks in the country: Pichincha Pacifico, Guayaquil, Produbanco (Promerica), Bolivariano, Internacional, Loja and Rumiñahui comply with the enactment of the credit for social housing ($ 40,000) and of priority interest ($ 70,000).
Cesar Robalino, president of the Association of Private Banks of Ecuador, explained that the main question has to do with the creation of the trust of the Central Bank, which has had a delay. The trust aims that banks do not record losses with the granting of loans at 4.99% when the cost of deposits administration is more than 5%. Robalino said that in case of not meeting the deadline, each bank could ask for an extension term.
EcuadorTimes “The first ecuadorian digital newspaper with bilingual news on the web”