Section 9: Central body for savings banks and banques populaires

The central body of the caisses d’épargne et des banques populaires is the central body of the cooperative banking group made up of the banques populaires and caisses d’épargne networks and other affiliated credit institutions and finance companies. It is set up as a limited company in which the banques populaires and the caisses d’épargne et de prévoyance together hold an absolute majority of the share capital and voting rights….

The central body for savings banks and banques populaires exercises the powers set out in Articles L. 511-31 and L. 511-32 of this Code. To this end, it is responsible for 1° Defining the policy and strategic orientations of the group and of each of its constituent networks; 2° coordinating the commercial policies of each of these networks and taking all measures necessary for the development of the group, in…

In the event that an affiliated institution or company takes decisions that do not comply with directly applicable laws, regulations or European provisions relating to banking and financial activities or with the instructions laid down by the central body of the caisses d’épargne et des banques populaires, the central body may dismiss one or more persons who effectively manage the business of this institution or company, as well as collectively…