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Application Texts

• 2003 Finance Act (No. 2002-1575 of December 30, 2002) (1)
• 2003 Finance Act (No. 2002-1575 of December 30, 2002) (1)

Summary

Application of Art. 8 of the amending finance law for 2000 (2000-1353 of 30 December 2000). The financial law for 2003 (2002-1275, 30 December 2002) allows, in its art. Balance (art. 57), the Minister of Economy, Finance and Industry to issue borrowings to cover the cash requirements of the State. This Article, which also specifies the scope of the financial operations to which the Minister is authorised to proceed, refers each year to a decree. This Order in respect of s. The purpose of the balance of the financial law of the year is to specify the operational arrangements for these different operations. The traditional main point of this Order in respect of the issuance of the Consolidated Revenue Fund is the description, in s. 3 of the decree, the characteristics of the monthly decree describing the operations carried out under this Decree in the previous month. The characteristics of this order are changed from the decrees of the previous years only to the substitution of the words "public debt fund" in the words "annuities fund" in accordance with art. 125 of the Finance Act for 2003. More generally, the words "public debt fund" are substituted for the words "annuities fund" also in s. 2 of the Order, in accordance with s. 125 of the Finance Act for 2003 and the order of presentation of the operations described in s. 2 of the decree was brought into line with that of art. 3.

Keywords

ECONOMY , PUBLIC DEBT , BORROWING , PRET , ETAT BORROWING , GOOD OF THE TRESOR , NORMAL RATE , EMISSION , VALUE OF THE TRESOR , OBLIGATION , TITLE , PUBLIC DEBT FUND , 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, 2003 Page 33
Text No. 29


DECRET
Decree No. 2002-1621 of 31 December 2002 on the issue of treasury values

NOR: ECOT0210467D ELI: http://www.legifrance.gouv.fr/eli/decret/2002/12/31/ECOT0210467D/jo/texte
Alias: http://www.legifrance.gouv.fr/eli/decret/2002/12/31/2002-1621/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 Articles 57 and 125 of the Finance Law for 2003 (n ° 2002-1575 of 30 December 2002),
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:
-to exchange or redeem, on the market, any title of the negotiable public debt. The interest owed by the State on the exchanged or redeemed securities shall be paid for the amount accrued on the date of exchange or redemption;
-to carry out exchange of currency or interest rates and to purchases or sales of options or Term contracts;
-to issue to the public debt fund public debt securities in current accounts and comparable obligations of the same characteristics as securities issued pursuant to section 1 of this Order or issued Previously;
-to carry out pension operations on state securities, loans and deposits of liquidity on the interbank market in euros, with euro area states and with the public debt fund.

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 in relation to 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 securities issued to the public debt fund pursuant to Article 2 of this Decree;
-the nature and the The aggregate amount of foreign exchange or interest rate transactions and purchases or sales of options or futures contracts on government securities;
-the amount of securities exchanged or redeemed, as well as the terms and conditions of such exchanges and These purchases;
-the stock of securities taken or repo, at the end of the month, as well as on average over the month;
-the amount of loans and deposits of liquidity in the euro interbank market to the euro area states and At the public debt fund 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 2002.

Jean-Pierre Raffarin

By the Prime Minister:

The Minister of Economy,

finance and industry,

Francis Mer

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