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TOPIC 22 THE FINANCIAL SYSTEM IN ECUADOR, images (1), images, images (1) -…
TOPIC 22 THE FINANCIAL SYSTEM IN ECUADOR
1. THE FINANCIAL SYSTEM IN ECUADOR
Traditionally, banks have taken over the
money from the public in exchange for an
Is older banks, cooperatives and mutualist of the country
CONSTITUTION OF THE FINANCIAL SYSTEM
These are the main types of financial systems:
Public Banks
They manage state funds. Includes the Central Bank, State Bank, Development Bank,
Mutualists Financial institutions that offer mortgage loans for construction or home purchase.
Private Banks They are the strongest institutions and cover
the entire national territory.
Savings and Credit
Cooperatives Savings and Credit
Cooperatives
LOCATATION
The cooperatives ara located only in provinces The public banks remained unchanged. The ones that grew were the cooperatives.
CONTROL OF THE FINANCIAL SYSTEM
In 1999 ocurred in Ecuador a financial crisis for the dolarization the State had to pay a good part of the money that the citizens had deposited in the banks,
After the bad experience of the Deposit Guarantee Agency (AGD), the Financial Liquidity Fund has been created, whose objective is to provide extraordinary loans whwn financial institutions
At the end of the first decade of the
21st century, the Pichincha Bank is
the most powerful institution in the
country with the largest asset
deposits and assets. They are
followed by the Guayaquil Bank,
Produbanco and Pacific Bank.
