Ecuador's Cordoba on central bank activities

In the speech 'Overview of activities undertaken by the Central Bank of Ecuador' given on 17 February, Polibio Cordoba of the Central Bank of Ecuador said the BCE is somewhat restricted when it comes to using collateral, since, with the official dollarisation of the economy, its role as lender of last resort is very limited.

"Without prejudice to this, it should be highlighted that commercial trustee accounts were and still are the most important collateral for the BCE, having been used

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