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Article R613-40 of the French Monetary and Financial Code

Measures taken by the collège de résolution pursuant to Articles L. 613-48 to L. 613-62-2 may be relied on against third parties without further formality as soon as they are published on the website of the Autorité de contrôle prudentiel et de résolution. The date and time of publication are mentioned. The AMF guarantees effective public access to the website and continuity of online publication of the above information throughout…

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Article R613-42 of the French Monetary and Financial Code

I. – Where they are required to keep detailed records of financial contracts defined in 12° of Article L. 613-34-1 to which they are a party pursuant to Article L. 613-34-5, the persons mentioned in I or II of Article L. 613-34 shall certify the existence of the records mentioning these contracts and shall ensure that the Supervisory Board and the Resolution Board have permanent access to these records. II….

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Article R613-43 of the French Monetary and Financial Code

For the application of I of Article L. 613-36, the supervisory board shall notify the persons required to draw up a preventive recovery plan pursuant to I of Article L. 613-35 of the results of its examination within six months of receipt of the plan. This notification is made after receiving the opinion of the collège de résolution. If no response is received from the supervisory board after this period,…

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Article R613-45 of the French Monetary and Financial Code

The persons required to draw up a preventive recovery plan referred to in Article R. 613-43 shall inform the supervisory board as soon as possible and in all cases when they adopt a recovery measure provided for in the plan. They shall also inform the college, where applicable, of their decision to refrain from taking such a decision when they could be led to do so in view of the…

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Article R613-46 of the French Monetary and Financial Code

I.-Pursuant to IX of Article L. 613-44, a subsidiary that is not a resolution entity may be exempted from compliance with the requirement set out in IV of the same article if the following conditions are met: 1° The subsidiary and the resolution entity are established in France and are part of the same resolution group; 2° The resolution entity complies with the minimum requirement set out in I of…

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Article R613-46-1 of the French Monetary and Financial Code

I.-For the application of I of Article L. 613-44, eligible commitments are included in the amount of own funds and eligible commitments mentioned in that Article only if they meet the conditions set out in Articles 72a, 72b with the exception of point d of its paragraph 2 and 72c of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013. II – For…

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Article R613-46-2 of the French Monetary and Financial Code

I.-The minimum requirement referred to in IV of Article L. 613-44 shall be met by means of one or more of the following commitments or own funds: 1° Commitments: a) which are issued to the resolution entity and purchased by it directly or indirectly through other entities within the same resolution group, or which are issued to and purchased by an existing shareholder that is not part of the same…

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Article R613-46-3 of the French Monetary and Financial Code

I.-Pursuant to VI of Article L. 613-44, when the resolution plan provides that a resolution measure must be taken, or that the power mentioned in Article L. 613-48 must be exercised according to the relevant scenario mentioned in II of Article L. 613-38, the minimum requirement mentioned in this VI corresponds to an amount sufficient to ensure that: 1° The losses that the resolution entity would incur are fully absorbed;…

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