The Institut d’émission d’outre-mer has a capital endowment which is set by joint order of the Minister for the Economy and the Minister for Overseas France.The incorporation of reserves into the capital endowment must be approved by order of these ministers.
The Institut d’émission d’outre-mer’s operating account balances are deposited with the Treasury.
The Institut d’émission d’outre-mer has the exclusive right to issue banknotes and coins in New Caledonia, French Polynesia and the Wallis and Futuna Islands. These banknotes and coins are legal tender.The Institut d’émission d’outre-mer is responsible for the maintenance of these banknotes and coins and for ensuring the quality of their circulation throughout its area of operation.
Decisions concerning the creation, characteristics, withdrawal or cancellation of banknotes and coins issued by the Institut d’émission d’outre-mer are taken by the Supervisory Board.The Institut d’émission d’outre-mer pays the State the balance of banknotes and coins it has withdrawn from circulation and stripped of their legal tender status.
The Institut d’émission d’outre-mer carries out fund transfers between mainland France, New Caledonia, French Polynesia and the Wallis and Futuna Islands.
The Institut d’émission d’outre-mer may grant credit institutions and other market participants advances secured by appropriate collateral.
The Institut d’émission d’outre-mer opens current accounts with the French Treasury, credit institutions and post and telecommunications offices.The Supervisory Board may authorise any other body or person to open an account with the Institut.Accounts opened with credit institutions, post and telecommunications offices and the bodies and persons mentioned in the previous paragraphs may not be in debit.
The Institut d’émission d’outre-mer shall centralise the declarations relating to cheque accounts and the declarations relating to safes provided for in Article R. 721-22 for the sole purpose of carrying out the duties assigned to it by Article L. 721-24 and Articles R. 721-26 and R. 721-28.
In New Caledonia, French Polynesia and the Wallis and Futuna Islands, credit institutions, the Office des postes et télécommunications de Nouvelle-Calédonie and the Office des postes et télécommunications de Polynésie française shall declare the opening, closure or modification of accounts on which cheques may be drawn, as well as the opening, closure or modification of safe deposit box rentals.The declarations referred to in the first paragraph shall be made no…
The Institut d’émission d’outre-mer is responsible for the automated processing of declarations centralised in the overseas accounts file.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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