Ecuador's Financial System
Banks take over the money from the public in exchange for an interest.
Banks give money to the public in exchange for another interest.
Private Banks
The strongest institutions and cover the entire national territory.
Public Banks
They manage state funds
Mutualists
They offer mortgage loans for the construction or purchase of housing.
Cooperatives
They are smaller institutions that offer small amount loans.
Control of the Financial System
AGD
Deposit Guarantee Agency
In 1999 crisis the guarantee system was very incipient.
Deposit Insurance Corporation
The Financial Liquidity Fund
State's control system over the financial system has been strengthened.
Geographic Location
Before the crisis of 1999, the financial centers were located in Guayaquil
Today, they are mostly in Quito
Cooperatives have grown a lot
