Book VII: Overseas provisions

The Institut d’émission d’outre-mer is a public institution. Its articles of association are laid down by decree in the Conseil d’Etat.The Institut d’émission d’outre-mer implements the State’s monetary policy in the CFP franc zone, comprising the territories of New Caledonia, French Polynesia and the Wallis and Futuna Islands, whose currency is the CFP franc.The State’s monetary policy in the CFP franc zone pursues the following objectives:1° To promote economic development…

The Institute may grant credit institutions and other market participants advances or loans guaranteed by appropriate collateral. The Institute may carry out documentary and on-site inspections of credit institutions as part of its task of implementing the State’s monetary policy. Lastly, it defines the penalties applicable in the event of failure to comply with the rules it has established. Decisions relating to the implementation of monetary policy become enforceable within…

In liaison with the Banque de France, the Institut d’émission d’outre-mer shall ensure the security and smooth operation of payment systems and systems for the clearing, settlement and delivery of financial instruments within the CFP franc zone.The Institut d’émission d’outre-mer shall carry out documentary and on-site inspections in order to perform the tasks mentioned in the first paragraph. The Institute shall carry out expert appraisals and shall obtain from clearing…

The Institut d’émission d’outre-mer draws up the balance of payments for the territories in the CFP franc zone. It is empowered to obtain any information it requires to perform this task from establishments and companies operating in the zone. The Institute and the statistical institutes or services of New Caledonia, French Polynesia and the Wallis and Futuna Islands may send each other the data they need to carry out their…

Any person who participates or has participated in the performance of the tasks of the Institut d’émission d’outre-mer is bound by professional secrecy. Any person who participates or has participated in the performance of the duties of the Institut d’émission d’outre-mer shall be liable to the penalties provided for inArticle 226-13 of the French Criminal Code for violating the professional secrecy referred to in the first paragraph of this Article,…

Within the Institut d’émission d’outre-mer, an observatory of bank charges is responsible for studying issues relating to bank charges in the local authorities referred to in Article L. 721-4. It periodically publishes statements on changes in charges and differences between institutions. Each year, it draws up an activity report, which is published on its website.