Subsection 2: Central bodies

For the application of the provisions of this code relating to credit institutions and finance companies, the following are considered as central bodies: Crédit agricole S.A., the central body of savings banks and banques populaires, the Confédération nationale du crédit mutuel.

The central bodies represent the credit institutions and finance companies affiliated to them in their dealings with the Banque de France and the Autorité de contrôle prudentiel et de résolution. They are responsible for ensuring the cohesion of their network and the smooth operation of the institutions and companies affiliated to them. To this end, they take all necessary measures, in particular to guarantee the liquidity and solvency of each…

Without prejudice to the powers of documentary and on-the-spot control conferred on the Autorité de contrôle prudentiel et de résolution over the institutions and companies affiliated to them, the central bodies contribute, each insofar as it is concerned, to the application of directly applicable European legislative and regulatory provisions governing credit institutions and finance companies. To this end, they report any breaches of these provisions to the Autorité de contrôle…