Section 7: Prudential provisions

Credit institutions authorised in France are members of the guarantee fund provided for in articles L. 312-4 to L. 312-16.

The Autorité de contrôle prudentiel et de résolution shall draw up and keep up to date a list of external credit assessment bodies whose assessments may be used by Class 1a credit institutions, finance companies and investment firms for the purposes of implementing the regulations provided for in Article L. 511-41. It specifies for each undertaking the credit quality levels to which the assessments correspond. A body may only be…

I. – In accordance with the conditions laid down by order of the Minister for the Economy, credit institutions and finance companies shall publish in the notes to their annual financial statements information on their establishments and activities in non-cooperative States or territories within the meaning ofarticle 238-0 A of the General Tax Code. II. – With effect from financial years commencing on or after 1 January 2014, credit institutions,…

I. – In order to guarantee their financial stability, their solvency with regard to depositors, their absence of conflicts of interest with their customers and their ability to provide financing for the economy, credit institutions receiving repayable funds from the public, financial holding companies and mixed financial holding companies, whose trading activities in financial instruments exceed thresholds defined by decree of the Conseil d’Etat, are prohibited from carrying out the…

I. – The subsidiaries dedicated to carrying out the activities referred to in I of Article L. 511-47 are authorised by the Autorité de contrôle prudentiel et de résolution as investment firms or, where applicable and by way of derogation from the provisions of the same Article L. 511-47, as credit institutions. When authorised by the Autorité de contrôle prudentiel et de résolution as credit institutions, these subsidiaries may neither…

Investment firms, credit institutions, investment holding companies, financial holding companies and mixed financial holding companies, as well as their subsidiaries referred to in Article L. 511-48 that carry out transactions in financial instruments, shall assign organisational and operational rules to their internal units responsible for these transactions that ensure compliance with Articles L. 511-47 and L. 511-48. In particular, they shall ensure that compliance with these rules is adequately monitored…

The authorisation referred to in I of Article L. 532-1 may be refused by the Autorité de contrôle prudentiel et de résolution if the organisation and operation, as well as the internal control system, of a credit institution, a financial holding company or a mixed financial holding company and their subsidiaries referred to in Articles L. 511-47 and L. 511-48 do not adequately ensure compliance with those Articles.

I. – If the term of office of a member of the Board of Directors, the Supervisory Board or any other body exercising equivalent functions is terminated as a result of a decision by the Autorité de contrôle prudentiel et de résolution to oppose the appointment, pursuant to Article L. 612-23-1, the Board may, between two General Meetings, make provisional appointments. Where the opposition of the Autorité de contrôle prudentiel…