An expenditure budget and an estimate of income are prepared for each financial year. They are sent to the members of the General Council, the Censor and his alternate at least two weeks before the date of the meeting at which the General Council is to deliberate. If necessary, estimates and amending budgets may be drawn up and discussed under the same conditions during the financial year.
Capital expenditure may only be charged against reserves that have been set aside in advance.
The financial year begins on 1 January and ends on 31 December. At the end of the financial year, the Governor draws up the annual accounts, together with a written report on the situation of the Banque de France and its activities during the past financial year. This report shall be sent to the members of the General Council, the Censor, his alternate and the Statutory Auditors fifteen days before…
Where applicable, the deductions provided for in the agreement referred to in the first paragraph of Article L. 141-2 are made in priority from the net profit for the year. A 5% deduction from the net profit for the year is then allocated to a specific reserve, which ceases to be funded when it reaches an amount equal to twice the capital of the Banque de France. Finally, the General…
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75001, Paris France
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