Key Benefits:
The Minister of Economy, Finance and Industry,
Given the monetary and financial code, and in particular Articles L. 213-1 to L. 213-4, L. 511-22, L. 532-18 and L. 542-1;
Given the code of construction and housing, and in particular Article L. 312-2;
Given the financial security law n ° 2003-706 of 1 August 2003, and in particular Article 47 thereof;
In the light of Decree No. 92-137 of 13 February 1992 amended relating to marketable debt instruments, and in particular Article 1 thereof;
Having regard to Regulation No 86-13 of 14 May 1986 as amended by the Committee on Banking and Financial Regulation concerning the remuneration of funds received by the Credit institutions;
In light of the amended Regulation n ° 88-01 of 22 February 1988 of the Banking and Financial Regulation Committee on Liquidity;
In the light of Regulation No 90-02 of 23 February 1990 as amended by the Committee on Regulation Financial and banking relating to own funds;
Having regard to Regulation No 92-13 of 23 December 1992 as amended by the Committee on Banking and Financial Regulation concerning the supply of banking services in France by establishments with their Head Office in the other Member States of the European Communities;
In view of the opinion of the Advisory Committee on Legislation and Financial Regulation of 28 January 2005,
Stop:
The certificates of deposit issued by credit institutions as well as the Caisse des depots et consignations and the cash notes issued by the investment companies must have a deadline Fixed, an initial period of at least one day and a unit amount at least equal to the equivalent value of EUR 150 000. The initial duration must not exceed one year.
Issuers of negotiable debt securities referred to in Article 1 of this Order shall report to the Banque de France on the redemption of their own securities. The Bank of France determines the frequency of the provision of this information.
Securities of marketable debt issued by entities referred to in Article 1 of this Order may be secured by a credit institution authorized by its statute to issue such security.
They may also be guaranteed by an investment firm, itself empowered to issue cash notes, where that undertaking holds, directly or indirectly, 20 % at least of the capital of the issuer or when its Capital shall be held, directly or indirectly, by the issuer, up to at least 20 %.
Marketable medium-term coupons (BMTN) issued by entities mentioned in Article 1 of this Order must have a fixed maturity, an initial maturity of more than one year and at least one unit amount Equal to the counter value of 150 000 euros.
The issuers of negotiable medium-term coupons referred to in Article 1 of this Order shall make known to the Banque de France the name of the credit institution (s) established in France that they have designated for Provide it with information on market developments in their securities.
Issuers of marketable debt securities referred to in Article 1 of this Order shall be domiciled in the conditions laid down in the General Regulation of the Autorité des marchés financiers, With:
(a) A credit institution approved in France;
(b) of a branch referred to in Article L. 511-22 of the Monetary and Financial Code;
(c) of an investment firm approved in France and authorised to hold cash accounts ;
d) A branch referred to in Article L. 532-18 of the monetary and financial code and entitled to hold cash accounts;
e) De la Caisse des depot et consignations;
f) D' une personne morale Assessed en France ayant pour object Principal or sole activity for the conservation or administration of financial instruments referred to in Article L. 542-1 of the Monetary and Financial
. After ensuring that the issuer has complied with the conditions of issue provided for in Articles L. 213-1 to L. 213-4 of the Monetary and Financial Code and the texts taken for their application.
Issuers of negotiable debt securities referred to in Article 1 of this Order shall communicate to the Banque de France the characteristics of each programme and provide it with information on The daily stock of securities issued. The Bank of France determines the frequency of the provision of this information.
Issuers fulfil the obligation set out in the preceding paragraph through their homebuyer.
Regulation No. 98-08 of 7 December 1998, as amended by the Committee on Banking and Financial Regulation, is repealed.
As a result, in all statutory instruments, The reference to Regulation No 98-08 is replaced by a reference to this Order:
-in the third indent of Article 4 of Regulation No 86-13 of 14 May 1986 on the remuneration of funds received by credit institutions;
-at 1 ° (c) of Article 5 of Regulation No 88-01 of 22 February 1988 relating to liquidity;
-the twenty-second indent of the second subparagraph of Article 5 of Regulation No 92-13 of 23 December 1992 on the provision of banking services In France by establishments having their registered office in the other Member States of the European Communities.
Done at Paris, February 16, 2005.
For the Minister and by delegation:
The Director General of the
Treasury and the Economic Policy,
X.
Musca
