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Article L613-61-1 of the French Monetary and Financial Code

I. – When it decides that a person referred to in I of Article L. 613-34 which is a subsidiary of a group within the meaning of I of Article L. 511-20 meets the conditions for initiating resolution proceedings referred to in II of Article L. 613-49 or, where applicable, those referred to in I and II of Article L. 613-49-1, the resolution college shall send, without delay, to the…

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Article L613-61-2 of the French Monetary and Financial Code

I. – When consulted by the consolidated resolution authority with a view to reaching a joint decision on a group resolution scheme referred to in Article L. 613-60-2, the resolution college shall provide all the cooperation required. II. – Where the resolution college disagrees with the group resolution scheme proposed by the resolution authority on a consolidated basis and considers, for reasons relating to financial stability, that it must take…

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Article L613-62 of the French Monetary and Financial Code

I. – The provisions of this article shall apply where there is no agreement between the European Union and a State which is not a member of the Union and where an existing agreement does not deal with the recognition and enforcement of resolution procedures in force in that State. II. – Without prejudice to VIII, where the resolution college participates in a college of European resolution authorities referred to…

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Article L613-62-1 of the French Monetary and Financial Code

I. – A branch of a credit institution referred to in I of Article L. 511-10 or a branch of a third-country undertaking referred to in Article L. 532-48 may be subject to one or more of the measures referred to in paragraph 2 of sub-section 10 of this section where: 1° It is not subject to a resolution procedure of a State that is not a member of the…

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Article L613-62-2 of the French Monetary and Financial Code

I. – For the application of this section and notwithstanding the provisions of Act 68-678 of 26 July 1968 relating to the communication of economic, commercial, industrial, financial or technical documents and information to foreign natural or legal persons, the supervisory board, the resolution board and the Minister responsible for the economy may exchange information covered by professional secrecy, in particular on preventive recovery plans, with the authorities of a…

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Article L613-64 of the French Monetary and Financial Code

The collège de résolution may, with the agreement of the fonds de garantie des dépôts et de résolution, transfer to this fund all or part of the equity securities mentioned in Chapter II of Title I of Book II or other ownership securities issued by a person mentioned in I of Article L. 613-34 subject to a resolution procedure.

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Article L613-64-1 of the French Monetary and Financial Code

The Autorité de contrôle prudentiel et de résolution shall hear the chairman of the management board of the fonds de garantie des dépôts et de résolution on any matter concerning an institution for which it intends to call on the guarantee fund or for which it intends to propose that the fund intervene on a preventive basis. The Chairman of the Management Board may also be heard, at his request,…

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Article L613-64-2 of the French Monetary and Financial Code

When part of the deposits eligible for the guarantee mentioned in Article L. 312-4-1 of an institution subject to a resolution procedure is transferred to another entity, depositors may not claim any compensation under this guarantee for the part of their deposits which exceeds the compensation ceiling set pursuant to 2° of Article L. 312-16 and which is left on account with this entity or institution subject to the resolution…

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Article L613-70 of the French Monetary and Financial Code

The authorisation provided for in Article 18(3) of Commission Regulation (EU) No 1031/2010 of 12 November 2010 on the timing, management and other aspects of the auctioning of greenhouse gas emission allowances shall be issued to credit institutions and investment firms by the Autorité de contrôle prudentiel et de résolution, after obtaining the opinion of the Autorité des marchés financiers. The opinion of the Autorité des marchés financiers relates to…

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