Chapter III: Savings bonds

Bons de caisse are non-negotiable registered securities with an undertaking by a trader to pay on a specific date, issued in return for a loan. The conditions under which they are issued and offered for sale or circulation, by means of a public offer other than one aimed exclusively at qualified investors referred to in 1° of article L. 411-2 or one relating to a loan equal to or greater…

Only the following may issue savings bonds 1° Credit institutions ; 2° Natural persons and companies that operate as traders and have drawn up the balance sheet for their first financial year. Savings bonds are subscribed directly with these persons. Finance companies are prohibited from issuing savings bonds.

Savings bonds may not be issued with more than seven years to maturity.

Savings certificates are entered in the name of their owner in a register kept by the issuer. The issuer provides the owner of the savings bond with a certificate of registration in the register and, where the owner is one of the persons referred to in 2° of article L. 223-2, provides the owner with its most recent annual financial statements, the accuracy of which it certifies. A decree shall…

Bons de caisse may be transferred in accordance with the provisions of Section 1 of Chapter II of Title IV of Book III of the Civil Code.

The contractual interest rate applicable to the loans for which the savings bonds are issued is fixed. It may not exceed the rate referred to in article L. 313-5-1. The conditions for amortising the face value of savings bonds and for paying the interest due are set by decree.