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Article R214-226 of the French Monetary and Financial Code

I.-The cases mentioned in the second paragraph of article L. 214-177 and the second paragraph of I of article L. 214-183, in which approval of a specific programme of operations is not required, are as follows: 1° When the undertaking is being wound up in the interests of the holders of units and debt securities previously issued; 2° When the outstanding capital of the undertaking’s unmatured debt is less than…

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Article D214-227 of the French Monetary and Financial Code

The statement provided for in the first paragraph of V of Article L. 214-169 shall include the following information: 1° The name “deed of assignment of receivables” ; 2° A statement that the assignment is subject to the provisions of articles L. 214-169 to L. 214-175; 3° The name of the assignee; 4° The designation or individualisation of the assigned receivables or the elements likely to provide this, for example…

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Article D214-227-1 of the French Monetary and Financial Code

The instrument of acceptance provided for in the fourth paragraph of 3° of V of Article L. 214-169 shall include the following information: 1° The title “instrument of acceptance of the assignment or pledge of a business claim”; 2° A reference to the fact that the instrument of acceptance is issued pursuant to the fourth paragraph of 3° of V of Article L. 214-169 and that it has the effects…

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Article D214-228 of the French Monetary and Financial Code

I. – The account specially allocated to the fund, as provided for in article L. 214-173, is a bank account held by a credit institution whose registered office is located in a State party to the Agreement on the European Economic Area or a member of the Organisation for Economic Co-operation and Development, including an existing account opened in the name of any entity responsible for collecting sums due to…

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Article D214-232 of the French Monetary and Financial Code

The securitisation undertakings referred to in II of Article L. 214-167 are those whose purpose is to be exposed, in a proportion exceeding 50% of the undertaking’s assets under the conditions defined in Article D. 214-232-2, to risks in the form of either financial securities or any other asset which does not constitute exposure to an insurance or credit risk, in particular the receivables referred to in Article D. 214-219,…

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Article D214-232-1 of the French Monetary and Financial Code

Notwithstanding the provisions of article D. 214-232, the following securitisation undertakings are excluded from the scope of II of article L. 214-167 : 1° Economic loan funds referred to in I ofarticle R. 332-14-2 of the Insurance Code; 2° Undertakings constituting one or more securitisation transactions within the meaning of Article 4(1)(61) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013; 3°…

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Article D214-232-2 of the French Monetary and Financial Code

For the purposes of calculating the 50% proportion referred to in Article D. 214-232, account is taken of exposures held directly or indirectly by the securitisation undertaking, including through any third party entity. The following assets and transactions are excluded from the calculation of the 50% proportion referred to in Article D. 214-232: 1° The purchase and holding on a temporary and ancillary basis of the liquid assets referred to…

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