Key Benefits:
The Prime Minister,
On the report of the Minister of Economy, Finance and Employment,
Having regard to 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;
Vu la Act No. 2007-1822 of 24 December 2007 Finance for 2008,
Decrete:
The Minister of Economy, Finance and Employment 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 decree of the Minister of Economy, Finance and Employment. The order specifies the dates of maturity and payment of coupons.
The Minister of Economy, Finance and Employment 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 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 to the Public Debt Fund in current accounts and similar obligations as those issued pursuant to section 1 of this Order or issued previously;
- to carry out state-owned pensions, loans and liquidity deposits in the euro zone's interbank market, with the euro zone states and with the Public Debt Fund;
- to make subscriptions of negotiable receivables issued by public administrative institutions.
The France Trésor agency makes public every month the operations carried out under this Order in Council during the previous month. These include:
- the nominal amounts, the dates of maturity and payment of coupons, the interest rates, the technical characteristics and, if applicable, the emission price as a percentage of the nominal capital of each program that has occurred under section 1 of this Order and 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 or interest exchange transactions and purchases or sales of options, term contracts on State securities or other long-term financial instruments traced to the trade account set out in II of theArticle 22 of Organic Law No. 2001-692 of 1 August 2001 on Financial Laws ;
- the amount of securities exchanged or redeemed and the conditions of these exchanges and redemptions;
― the stock of the securities taken or placed in boarding, at the end of the month, and on average over the month;
- the amount of subscriptions of negotiable debts issued by administrative public institutions, loans and deposits of liquidity in the Eurozone interbank market, to the eurozone 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 Employment is responsible for the execution of this Order, which will be published in the Official Journal of the French Republic.
Done in Paris, December 26, 2007.
François Fillon
By the Prime Minister:
Minister of Economy,
finance and employment,
Christine Lagarde
