Key Benefits:
The Prime Minister,
On the report of the Minister of Economy, Finance and Industry,
Considering Article 8 of the Corrigendum Financial Act for 2000 (No. 2000-1353 of 30 December 2000);
Considering the Financial Law for 2005 (No. 2004-1484 of 30 December 2004),
Decrete:
The Minister of Economy, Finance and Industry is authorized to issue publicly tradeable debt securities, at fixed or variable rates, by auction or by trade union. The characteristics of these securities are defined by order of the Minister of Economy, Finance and Industry. The order specifies the dates of maturity and payment of coupons.
The Minister of Economy, Finance and Industry is authorized:
To exchange or redeem, on the market, any publicly tradeable debt. The interest due by the State on the securities exchanged or redeemed shall be paid for the amount accrued on the date of exchange or redemption;
To conduct currency exchange or interest rate transactions and purchases or sales of options or futures contracts;
To issue Treasury bills to the Public Debt Fund in current accounts and similar obligations as the securities issued pursuant to section 1 of this Order or issued previously;
To carry out state-owned pensions, loans and liquidity deposits on the interbank market in euros, with the euro zone states and with the Public Debt Fund.
The debt agency makes public every month the transactions carried out under this Order in Council during the previous month. These include:
The nominal amounts, the dates of maturity and payment of coupons, interest rates, technical characteristics and, if applicable, the emission price as a percentage of the nominal capital of each program that has occurred pursuant to Article 1 of this Order, as well as any conditions of assimilation;
The amounts of securities issued to the Public Debt Fund pursuant to Article 2 of this Decree;
The nature and overall amount of currency exchanges or interest rates and purchases or sales of options or futures contracts on state securities;
The amount of securities exchanged or redeemed, as well as the conditions of such exchanges and redemptions;
The stock of the securities taken or placed on board at the end of the month, and on average over the month;
The amount of loans and liquidity deposits on the interbank market in euros, to the euro zone states and to the Public Debt Fund at the end of the month, as well as on average over the month.
The Minister of Economy, Finance and Industry is responsible for the execution of this Order, which will be published in the Official Journal of the French Republic.
Done in Paris, December 30, 2004.
Jean-Pierre Raffarin
By the Prime Minister:
Minister of Economy,
finance and industry,
Hervé Gaymard
