French Business Law - French Legislation

Article L613-35 of the French Monetary and Financial Code

November 7, 2023

I. – The following are subject to the obligation to draw up and maintain a preventive recovery plan: 1° Credit institutions subject to direct supervision by the European Central Bank pursuant to Article 6(4) of Council Regulation (EU) No 1024/2013 of 15 October 2013 and credit institutions or investment firms which constitute a significant part of the financial system within the meaning of Article 11(8) of Regulation (EU) No 806/2014…

Article L613-35-1 of the French Monetary and Financial Code

November 7, 2023

Persons required to draw up a preventive recovery plan pursuant to I and II of Article L. 613-35 shall set up a system for regular monitoring of the indicators mentioned in VI of the same article.

Article L613-36 of the French Monetary and Financial Code

November 7, 2023

I. – The supervisory board shall examine the individual preventive recovery plans after consulting, where appropriate, the competent authorities of the Member States where branches of significant importance are located. It shall ensure that they comply with the requirements of IV and VI of Article L. 613-35 and the regulatory provisions adopted for its application. In particular, it assesses their ability to maintain or restore the viability and financial situation…

Article L613-37 of the French Monetary and Financial Code

November 7, 2023

I. – Where it is responsible for the supervision of a group on a consolidated basis, the college of supervisors shall communicate the preventive group recovery plans referred to it pursuant to VII of Article L. 613-35: 1° To the competent authorities responsible for the supervision of subsidiaries established in another Member State of the European Union ; 2° To the competent authorities of the other Member States of the…

Article L613-37-1 of the French Monetary and Financial Code

November 7, 2023

I. – When a matter is referred to it by the authority of another Member State of the European Union responsible for the supervision of a group on a consolidated basis, for the purposes of examining and assessing a preventive group recovery plan, the college of supervisors shall provide all the cooperation required. The supervisory board shall ensure, insofar as it is concerned, compliance with the requirements referred to in…

Article L613-38 of the French Monetary and Financial Code

November 7, 2023

I. – The collège de résolution shall draw up individual preventive resolution plans for persons required to draw up an individual preventive recovery plan pursuant to the provisions of sub-section 2 of this section. These plans shall provide for the resolution measures that may be taken pursuant to Subsection 9 and Subsection 10 of this Section when the conditions for triggering a resolution procedure mentioned in II of Article L….

Article L613-39 of the French Monetary and Financial Code

November 7, 2023

I. – Where the collège de résolution is the competent resolution authority for a person referred to in the first paragraph of I of Article L. 613-38, it shall draw up an individual preventive resolution plan for that person, after obtaining the opinion of the collège de supervision and, where appropriate, after consulting the resolution authorities responsible for the person’s material branches. II. – When the collège de résolution is…

Article L613-40 of the French Monetary and Financial Code

November 7, 2023

I. – Where the College of Resolution is the resolution authority on a consolidated basis, it shall establish or update, after consultation with the relevant competent authorities of the Member States, including those responsible for significant branches, the group resolution contingency plans, where appropriate jointly with the resolution authorities of the subsidiaries concerned and after consultation, where appropriate, with the resolution authorities of significant branches established in a Member State….

Article L613-40-1 of the French Monetary and Financial Code

November 7, 2023

I. – When a matter is referred to it by the consolidated resolution authority of another Member State of the European Union as the resolution authority of a subsidiary belonging to a group for the purposes of drawing up or updating a preventive group resolution plan, the collège de résolution shall provide all the cooperation required. The resolution college shall give its opinion within four months of the transmission of…

Article L613-40-2 of the French Monetary and Financial Code

November 7, 2023

The resolution college shall notify the supervisory college and, where applicable, the competent authorities of the Member States concerned of the plans it has drawn up or updated pursuant to Articles L. 613-39, L. 613-40 and L. 613-40-1. The resolution college shall notify, as appropriate, the person mentioned in I of Article L. 613-39 or the parent undertaking concerned pursuant to Article L. 613-40 of a summary of the main…

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French Monetary and Financial Code

Article L613-35 of the French Monetary and Financial Code

Article L613-35-1 of the French Monetary and Financial Code

Article L613-36 of the French Monetary and Financial Code

Article L613-37 of the French Monetary and Financial Code

Article L613-37-1 of the French Monetary and Financial Code

Article L613-38 of the French Monetary and Financial Code

Article L613-39 of the French Monetary and Financial Code

Article L613-40 of the French Monetary and Financial Code

Article L613-40-1 of the French Monetary and Financial Code

Article L613-40-2 of the French Monetary and Financial Code

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French Monetary and Financial Code

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