Chapter III: Specialised credit institutions

I. – Guaranteed loans are loans with : 1. A first-ranking mortgage or a property security interest providing at least equivalent security ; 2. Or, within the limits and under the conditions determined by decree of the Conseil d’Etat, provided that the guaranteed loan is used exclusively to finance a property, a guarantee from a credit institution, finance company or insurance company, which has at least the second level of…

I. – Exposures to the public entities referred to in Article L. 513-2 are assets, such as loans, or off-balance sheet commitments to or fully guaranteed by the entities listed below: 1. Central governments, central banks, public institutions, local authorities or groups thereof of a Member State of the European Union; 2. Central governments or central banks of non-EU Member States with the highest credit quality rating established by an…

Promissory notes governed by articles L. 313-42 et seq. are treated in the same way as the loans referred to in article L. 513-3 , provided that the receivables secured by them comply with the conditions referred to in article L. 513-3, as well as loans guaranteed by the remittance, assignment or pledging of receivables and which the société de crédit foncier has granted by benefiting from the provisions of…

Under conditions set by decree in the Conseil d’Etat, assets other than those defined in articles L. 513-2 to L. 513-6 may be held by sociétés de crédit foncier and financed by preferential resources. This decree sets the maximum proportion that these other assets may represent.

The sociétés de crédit foncier ensure that their cash requirements are covered at all times in accordance with the terms and conditions laid down by decree in the Conseil d’Etat.

Each quarter, sociétés de crédit foncier publish information on their website relating to their issues of “obligations foncières” and other senior debt referred to in Article L. 513-2 (I)(2), enabling investors to assess the profile of the loans, securities, deposits and exposures to be financed as well as the associated risks. They shall provide the Autorité de contrôle prudentiel et de résolution, on a quarterly basis, with information on their…

In order to cover the management of loans and exposures referred to in articles L. 513-3 to L. 513-7, obligations foncières or other resources benefiting from the preferential right defined in article L. 513-11, sociétés de crédit foncier may use forward financial instruments, as defined in article L. 211-1. However, sums due in respect of forward financial instruments entered into by sociétés de crédit foncier to hedge their assets and…