Organic Monetary and Financial Code


This code determines the deposit insurance levels which different financial entities must maintain. The minimum deposit insurance awarded to each legal or natural person shall be equal to twice the amount of revenue exempt from income tax, but must be no less than USD 32,000. For the Solidary and Popular Financial Sector, this insurance will equal the basic fraction of earnings exempt from income tax, but must be no less that USD 11,000.

All savings and credit cooperatives, as well as all savings and credit societies, must maintain a deposit coverage of at least USD 1,000. This value may increase upon the request of the Deposit Insurance Liquidity Fund. 

Document Details

Title (Non-English): 
Código Orgánico Monetario y Financiero
Document Type: 
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Date of Document: 
Wednesday, January 1, 2014
Document Authors: 
National Assembly of Ecuador
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