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Ecuador's Financial System - Coggle Diagram
Ecuador's Financial System
1. THE FINANCIAL SYSTEM IN ECUADOR
Expansion
Banks take over the money from the public in exchange for an interest.
Banks give money to the public in exchange for another interest.
Foreign currency exchange
Equity investments of companies
Payments for collections
Money transfers
Virtual transfers
2. CONSTITUTION OF THE FINANCIAL SYSTEM
PUBLIC BANKS
They manage state funds
MUTUALISTS
Financial institutions that offer mortgage loans for construction or home purchase.
PRIVATE BANKS
The strongest institutions and cover the entire national territory.
COOPERATIVES
They are smaller institutions that offer small amount loans
3. GEOGRAPHICAL LOCATION
Today, they are mostly in Quito
Cooperatives have grown a lot
Before the crisis of 1999, the financial centers were located in Guayaquil
4. LAST YEARS
2nd:
3rd: Cooperatives in both regions:
Coast and Highlands
1st:
The most powerful
4th: Mutualists
decreased because 1999 economic crisis
5. CONTROL OF THE FINANCIAL SYSTEM
Good
The Financial Liquidity Fund
Deposit Insurance Corporation
Bad
1999 CRISIS: The guarantee system was very incipient.
AGD: Deposit Guarantee Agency (AGD)
