Between the year 1999 and 2000, the guarantee system for public deposits in
financial institutions was very incipient. For this reason, when the financial crisis occurred in Ecuador and the credit was given to private banks, through public
institutions, the State had to pay a good part of the money that the citizens had deposited in the banks, whose directors did not take responsibility for it. For this
reason, the State's control system over the financial system has been strengthened.
After the bad experience of the Deposit Guarantee Agency (AGD), the Financial Liquidity Fund has been created, whose objective is to provide extraordinary
loans when financial institutions need it. On the other hand, the Deposit nsurance Corporation has the mission of protecting the deposits of the public in
private financial institutions. With these new institutions we seek to create a safety net for the financial system and depositors or clients.
