Key Benefits:
Publics concerned: financing companies.
Subject: issue of negotiable debt securities.
Entry into force: the text comes into force on the day after its publication.
Notice: pursuant to Order No. 2013-544 of 27 June 2013 relating to credit institutions and financing companies and Decree No. 2013-1149 of 12 December 2013 on the issuance of debt securities assimilable to the collection of publicly repayable funds, financing companies may issue negotiable debt securities without such securities being assimilated to repayable funds from the public, provided that they are booked This Order provides for the necessary modifications to the regulatory part of the monetary and financial code to allow the opening of the market of negotiable debt securities to the financing companies and thus authorizes the financing companies to issue cash and negotiable medium-term vouchers.
References: the provisions of the monetary and financial code amended by this decree may be consulted, in their drafting, on the website Légifrance (http://www.legifrance.gouv.fr).
The Prime Minister,
On the report of the Minister of Finance and Public Accounts,
Considering the monetary and financial code, including articles L. 213-1 A to L. 213-4-1, L. 742-3, L. 752-3 and L. 762-3;
Based on the advice of the Financial Legislation and Regulatory Advisory Committee dated March 19, 2014,
Decrete:
Sub-section 1 of Chapter III, Chapter III, Title I of Book II of the Monetary and Financial Code (regulatory part) is amended as follows:
1° At 2° of Article D. 213-1, the reference: "2" is replaced by the reference: "1 bis";
2° Section D. 213-7 is amended as follows:
(a) The first paragraph is replaced by the following:
"The conditions for the issuance of the negotiable debt securities set out in sections L. 213-1 A to L. 213-4-1 and this subsection are specified for investment companies, credit institutions, financing companies and the Caisse des dépôts et consignations and for the issuers mentioned in 2 to 11 of section L. 213-3, by order of the Minister responsible for the economy. » ;
(b) In the second paragraph, after the words: “credit institutions”, the words “financing companies”.
The provisions of Article 1 are applicable in New Caledonia, French Polynesia and the Wallis and Futuna Islands.
The Minister of Finance and Public Accounts and the Minister of Overseas are responsible, each with respect to him, for the execution of this Order, which will be published in the Official Journal of the French Republic.
Done on 20 May 2014.
Manuel Valls
By the Prime Minister:
Minister of Finance
and public accounts,
Michel Sapin
Minister of Overseas,
George Pau-Langevin
