Title I: Financial instruments

Credit institutions, finance companies and investment firms must deposit Treasury bills belonging to them with the Banque de France if the total nominal amount of these bills exceeds €750.

The Banque de France opens in its books, in the name of each institution or custodian, a current account of bills held by maturity.

Subscriptions made by current account holders give rise to a credit to their account equal to the amount of the bonds subscribed, without the physical issue of forms.

The Treasury opens in its books, in the name of the Banque de France, a current account for vouchers, in which are recorded all voucher deposits and withdrawals, as well as all voucher subscriptions and redemptions carried out through the current accounts held by the Banque de France.

The same transactions may be carried out in respect of entries in current account warrants as in respect of warrants. Registrations may be freely transferred by bank transfer.

Transfer orders are exempt from stamp duty.

No objection may be lodged in respect of bond current accounts.

The list of institutions or persons referred to in Article L. 213-23 may be supplemented by a decree issued on the basis of a report from the Minister for the Economy. The Banque de France may grant institutions or persons not mentioned in Article L. 213-23 the right to open a current account with the Banque de France. These accounts are automatically subject to the provisions of Articles L. 213-23…