Key Benefits:
The Prime Minister,
On the report of the Minister of Economy, Finance and Industry,
Considering Article 22 of Organic Law No. 2001-692 of 1 August 2001 on Financial Laws;
Having regard to the Corrigendum Financial Act No. 2004-1485 of 30 December 2004;
Considering the Financial Law for 2006 (No. 2005-1719 of 30 December 2005),
Decrete:
The Minister of Economy, Finance and Industry is authorized to issue negotiable public 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 title of negotiable public 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 carry out foreign exchange transactions or interest rates and purchases or sales of options, term contracts on State securities or other financial instruments in the future;
- to issue Treasury bills for the benefit of the Public Debt Fund in current accounts and similar obligations of the same characteristics as the securities issued under section 1 of this Order or issued previously;
- to carry out operations of state-owned pensions, loans and liquidity deposits on the interbank market in euros, to the euro zone states and to 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 the possible 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 foreign exchange transactions or interest rates and purchases or sales of options, term contracts on State securities or other financial instruments in the term referred to on the trade account provided for in Article II of Organic Law No. 2001-692 of 1 August 2001 on the financial laws;
- 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, as well as 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 on 30 December 2005.
Dominique de Villepin
By the Prime Minister:
Minister of Economy,
finance and industry,
Thierry Breton
