Section 2: Valuation of assets

The depreciable securities listed in 1°, 2°, 2° bis and 2° ter of Article R. 332-2, other than bonds and index-linked units, units in debt securitisation funds and profit participation certificates, are recorded at their purchase price excluding accrued interest at the date of acquisition. The procedures for determining this purchase price, for amortising the difference between the purchase price and the redemption price over the residual life of the…

With the exception of securities recorded in accordance with article R. 343-9, investments are recorded in the balance sheet on the basis of their purchase or cost price, excluding accrued interest where applicable. The procedures for determining this purchase price or cost price, as well as those for determining depreciation, which is recognised only when it is permanent, are defined in a regulation issued by the French Accounting Standards Authority…

The securities listed in article R. 332-2 and other financial and property investments are valued on the basis of their realisable value, in particular for the purposes of the calculation provided for in the first paragraph of article R. 344-1, under the following conditions: a) Listed transferable securities and listed securities of any kind are valued at their last quoted price on the day of the valuation; b) Unlisted securities…

The realisable value of forward financial instruments is: a) For forward financial instruments traded on recognised markets within the meaning of the last paragraph of A of article R. 332-2, the value of the last quotation; b) For instruments traded over-the-counter, the replacement cost, valued by at least two undertakings not included in the same scope of consolidation or preparation of combined financial statements, referred to in Articles L. 345-2…

Notwithstanding the provisions of Articles R. 343-9 and R. 343-10, investments accepted in respect of variable capital life assurance or capitalisation contracts, in which the sum insured is determined by reference to a reference value, are estimated separately and entered in the balance sheet at their value on the day of the valuation. As an exception to the provisions of articles R. 343-9 and R. 343-10, at the time of…