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Article L310-12-3 of the French Insurance Code

In periods of extreme instability in the financial markets, the Autorité de contrôle prudentiel et de résolution takes into account the possible pro-cyclical effects of its actions.

Original in French 🇫🇷
Article L310-12-3

Dans les périodes d’extrême instabilité des marchés financiers, l’Autorité de contrôle prudentiel et de résolution prend en compte les éventuels effets pro-cycliques de ses actions.

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