Chapter I: Supervision of the financial system, cooperation and exchanges of information on national territory

When at least four of the members of the Haut Conseil de Stabilité Financière mentioned in 1° to 4° of Article L. 631-2 are of the same sex, each of the authorities mentioned in the sixth paragraph of the same Article shall appoint a qualified person of the other sex.

I. – In cases other than those mentioned in Article R. 631-1, the draw provided for in the penultimate paragraph of Article L. 631-2 is carried out by the Governor of the Banque de France, assisted by two persons whom he chooses from among his staff, in the presence of representatives of the Presidents of the National Assembly and the Senate and of the Minister for the Economy, appointed by…

If the term of office of a qualified person expires before its term, the competent authority referred to in 5° of Article L. 631-2 shall appoint a replacement for the remainder of the term of office. The appointment of the qualified person is made on the basis of the composition of the High Council for Financial Stability in such a way as to eliminate or, failing that, reduce or not…

The Governor of the Banque de France sends his proposals under 4°, 4° bis, 4° ter and 5° of Article L. 631-2-1 to the Chairman of the Financial Stability Board, who places them on the agenda for the next meeting of the Board.

The Haut Conseil de stabilité financière shall notify its draft decisions under 4°, 4° bis or 4° ter of Article L. 631-2-1: a) Under the conditions laid down, as the case may be, in Article 458 of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 or by order of the Minister in charge of the economy, to the European Parliament, the Council,…

The decisions of the Financial Stability Board taken pursuant to 4°, 4° bis, 4° ter and 5° of Article L. 631-2-1 are published in the Official Journal of the French Republic and on the Financial Stability Board’s website. They specify how they are to be applied over time.

The authorities responsible for ensuring the implementation of the decisions of the High Council for Financial Stability shall report to it at its request. In particular, the Haut Conseil de stabilité financière may, in the exercise of its mission, ask the Autorité de contrôle prudentiel et de résolution to keep it informed of the implementation of decisions taken pursuant to 4°, 4° bis and 4° ter of Article L. 631-2-1.

I. – A quorum is reached when at least half of the members making up the High Council are present, including members taking part in the debates by means of a telephone or audiovisual conference. If the quorum is not reached, the High Council shall deliberate validly without a quorum being required following a new notice of meeting on the same agenda and specifying that no quorum will be required….

The secretariat of the High Council for Financial Stability is provided jointly by the Directorate General of the Treasury and the Banque de France. The Financial Stability Board adopts its own rules of procedure, which are published on its website.