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Summary

1. The Finance Act allows the Minister of Economy, Finance and Industry to issue borrowings to cover the cash needs of the state in its equilibrium article. This section, which also specifies the scope of the financial transactions to which the Minister is authorized to proceed, refers each year to an Order in Council. The purpose of this Order in Council for the balancing act of the Finance Act of the year is to clarify the operational arrangements for these different operations.2. The traditional main point of this Order in respect of the issue of treasury values is the description of the characteristics of the monthly order describing the transactions carried out under this Order in the previous month. The characteristics are not affected by the decrees of the previous year.3. More generally and in the interests of transparency and clarification, the terms of the decree have been subject to slight grooming on a number of points. The elements of last year's decree have no legal scope. Have been removed from the level of the decree or in other texts. This is, for example, a passage on the advertising of bond issues, a paragraph before the conditions for the conduct of operations delivered in a framework that has become obsolete or a line relating to the obligation for the State To cancel the securities that it has repurchased or exchanged. Application of Articles 8 of the amending Finance Law for 2000 (2000-1353 of 30 December 2000) and 53 of the Finance Law for 2002 (2001-1276 of 28 December 2001).

Keywords

ECONOMY , PUBLIC DEBT , BORROWING , PRET , ETAT BORROWING , GOOD OF THE TRESOR , NORMAL RATE , EMISSION , VALUE OF THE TRESOR , OBLIGATION , TITLE , PENSION SUPPORT FUNDS , ASSIMILABLE OBLIGATION OF THE TRESOR , OAT , FIXED RATE , VARIABLE RATE , PREALABLE ADVERTISING , EURO , ECHANGE , REPURCHASE , ETAT TITLE , PENSION ON TITLE , QUOTE , FINANCIAL WALKING , OPTION , OPA , OPV , CONTRACT TERM

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JORF No. 1 of January 1, 2002 Page 25
Text #8


DECRET
Decree No. 2001-1371 of 31 December 2001 on the issue of treasury values

NOR: ECOT0110445D ELI: http://www.legifrance.gouv.fr/eli/decret/2001/12/31/ECOT0110445D/jo/texte
Alias: http://www.legifrance.gouv.fr/eli/decret/2001/12/31/2001-1371/jo/texte

The Prime Minister,
On the report of the Minister of Economy, Finance and Industry,
In view of Article 8 of the Financial Amendment Act 2000 (No. 30 December 2000);
In view of Article 53 of the Finance Law for 2002 (No. 2001-1276 of 28 December 2001),
Clipping:

Item 1 More about this Item ...

The Minister of Economy, Finance and Industry is authorized to issue negotiable, fixed rate or variable rate public debt securities by auction or syndication. The characteristics of these securities are defined by decree of the Minister of Economy, Finance and Industry. The order specifies in particular the due dates and the payment of coupons.

Item 2 More about this Item ...

The Minister of Economy, Finance and Industry is authorized to exchange or redeem, on the market, any title of the negotiable public debt. These exchanges and repurchases are optional for holders of securities. The interest owed by the State on the exchanged or redeemed securities shall be paid for the amount accrued on the date of the exchange or redemption.
The Minister of Economy, Finance and Industry is authorized to conduct pension operations on State titles. The Minister of Economy, Finance and Industry is authorized to conduct foreign exchange or interest rate trading and to purchase or sell options or futures contracts.
The Minister of Economy, Finance and The industry is authorized to issue, to the benefit of the Pension Support Fund, current accounts and comparable obligations of the same characteristics as the securities issued pursuant to section 1 of this Order or issued Earlier. The annuities support fund is authorized to lend these securities.
The Minister of Economy, Finance and Industry is authorised to carry out borrowing and liquidity operations in the euro interbank market. Of euro area states.

Item 3 More about this Item ...

An Order of the Minister of Economy, Finance and Industry, published monthly in the Official Journal, describes the operations carried out under this Order in the previous month; In particular:
-the nominal amounts, the dates of maturity and payment of coupons, interest rates, technical characteristics and, where applicable, the emission price as a percentage of the nominal capital of each issue Application of Article 1 of this Decree, as well as any conditions of assimilation;
-the amounts of the securities issued to the annuities support fund pursuant to Article 2 of this Decree;
-the amount of Traded or redeemed securities, as well as the terms and conditions of such exchanges and purchases;
-the nature and aggregate amount of foreign exchange or interest rate transactions and purchases or sales of options or futures contracts on State securities;
-the stock of securities taken or reformer, at the end of the month, as well as on average over the month;
-the amount of loans and deposits of liquidity on the interbank market in euro and with the euro area states, at At the end of the month, and on average over the month.

Item 4 More about this Item ...

The Minister of Economy, Finance and Industry is responsible for the execution of this Decree, which will be published in the Official Journal of the French Republic.

Done at Paris, 31 December 2001.

Lionel Jospin

By the Prime Minister:

The Minister of Economy,

Finance and Industry,

Laurent Fabius

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