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French Monetary and Financial Code

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Article L712-8 of the French Monetary and Financial Code

November 7, 2023

The Minister responsible for the economy shall determine the conditions under which regulations or decisions relating to technical regulatory or implementation standards adopted by the European Commission on the basis of the following regulations shall be made applicable to Saint-Pierre-et-Miquelon, New Caledonia, French Polynesia and the Wallis and Futuna Islands:1° Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory…

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Article L712-9 of the French Monetary and Financial Code

November 7, 2023

For the application of the regulations mentioned in articles L. 712-7 and L. 712-8 in Saint-Pierre-et-Miquelon, New Caledonia, French Polynesia and the Wallis and Futuna Islands: 1° References to the European Union and the Member States are replaced by references to France; 2° References to the territory of the Union are replaced by references to the territory of the Republic; 3° References to States that are parties to the Agreement…

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Article L712-10 of the French Monetary and Financial Code

November 7, 2023

The Minister for Economic Affairs shall draw up a list of EU regulations on restrictive measures taken pursuant to Articles 75 or 215 of the Treaty on the Functioning of the European Union which are applicable to Saint-Pierre-et-Miquelon, New Caledonia, French Polynesia and the Wallis and Futuna Islands. Measures to freeze assets and prohibit making them available taken on the basis of these regulations or the European implementing regulations adopted…

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Article L721-1 of the French Monetary and Financial Code

November 7, 2023

In Guadeloupe, French Guiana, Martinique, Mayotte, Reunion Island, and the collectivities of Saint-Barthélemy, Saint-Martin and Saint-Pierre-et-Miquelon, the monetary signs that are legal tender and in full discharge of their liabilities are those that are legal tender and in full discharge of their liabilities in mainland France. Banknotes are issued by the Banque de France under the conditions set out in Articles L. 122-1 and L. 141-5. Metallic coins are put…

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Article L721-2 of the French Monetary and Financial Code

November 7, 2023

The introduction of the euro in Saint-Barthélemy and Saint-Pierre-et-Miquelon shall not have the effect of modifying the terms of a legal instrument or of releasing or dispensing with its performance, nor shall it give a Party the right to modify or terminate such an instrument unilaterally. This provision shall apply without prejudice to what the parties have agreed.The replacement of the currency of each participating Member State by the euro…

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Article L721-3 of the French Monetary and Financial Code

November 7, 2023

The Governor of the Banque de France shall make applicable in Saint-Pierre-et-Miquelon the measures necessary for the performance of the tasks mentioned in Section 1 of Chapter I of Title IV of Book I of this Code, in particular those necessary for the functioning of Economic and Monetary Union, in such a way that these measures have the same effects in Saint-Pierre-et-Miquelon as in mainland France.The Governor’s decisions shall be…

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Article L721-4 of the French Monetary and Financial Code

November 7, 2023

In New Caledonia, French Polynesia and the Wallis and Futuna Islands, France has the privilege of issuing currency.The currency which is legal tender and has the power of discharge in these territories is the French Pacific Collectivities franc or CFP franc.The parity of the CFP franc is set by decree.

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Article L721-6 of the French Monetary and Financial Code

November 7, 2023

I. – Cash payments denominated in CFP francs are rounded to the nearest multiple of 5 CFP francs and are made according to the following rounding rules:1° Amounts ending in 1, 2, 6 and 7 are rounded down to the nearest multiple of 5;2° Amounts ending in 3, 4, 8 and 9 are rounded up to the nearest multiple of 5.II. – Coins denominated in CFP francs may not be…

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Article L721-7 of the French Monetary and Financial Code

November 7, 2023

In the collectivities referred to in Article 73 of the Constitution and in the collectivities of Saint-Barthélemy, Saint-Martin and Saint-Pierre-et-Miquelon, the Banque de France carries out the tasks entrusted to it by Articles L. 122-1, L. 141-1 to L. 141-5-1 and L. 141-6-1 as part of its participation in the European System of Central Banks. Operations relating to these tasks in the local authorities referred to in the first paragraph…

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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396

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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396

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