Implementing finance LAW for 2003 (No. 2002) - 1575 on December 30, 2002 (1) finance ACT 2003 (No. 2002 - 1575 on December 30, 2002) (1) summary Application of art. 8 the amending finance law for 2000 (December 30, 2000 2000-1353). The finance law for 2003 (December 30, 2002 2002-1275) allowed, in his art. balance (art. 57), the Minister of economy, finance and industry to issue debt to cover the needs of the State Treasury. This article, which also specifies the scope of the transactions to which the Minister is allowed to proceed, returns each year to a decree. This decree aimed at art. balance of the budget of the year Bill was intended to clarify the operational modalities for these various operations. The traditional main point of this Decree on the issuance of the Treasury securities is in the description, to the art. 3 of the Decree, characteristics of the monthly order describing the operations carried out in application of this Decree in the previous month. The characteristics of this order are changed from the decrees of the previous years by the substitution of the words "public debt Fund" to the words "pension support fund", in accordance with art. 125 of the finance law for 2003. More generally, the words "public debt Fund" are substituted for the words "pension support fund" also in art. 2 of the Decree, in accordance with art. 125 of the 2003 Finance Act and the order of the operations described in art. 2 of the Decree has been in line with that of art. 3 keywords ECONOMY, PUBLIC DEBT, LOAN, LOAN GOVERNMENT LOAN, GOOD TREASURY, RATE NORMAL, SHOW, TREASURY VALUE, OBLIGATION, TITLE, FUND OF THE PUBLIC DEBT, OBLIGATION ASSIMILABLE TREASURY, OAT, FIXED RATE, VARIABLE RATE, ADVERTISING PRIOR, EURO, EXCHANGE, REDEMPTION, STATE TITLE, REPO, QUOTE, FINANCIAL MARKET, OPTION, OPA, OPV, CONTRACT A TERM JORF n ° 1 of January 1, 2003, page 33 text no. 29 DECREE Decree No. 2002-1621 to December 31, 2002 relative to the issuance of the Treasury securities
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 Prime Minister, on the report of the Minister of economy, finance and industry, see article 8 of the amending finance law for 2000 (No. 2000) - 1353 of 30 December 2000;
See sections 57 and 125 of the finance law for 2003 (No. 2002) - 1575 on December 30, 2002, decrees: Article 1 more on this article...
The Minister of economy, finance and industry is authorized to issue the negotiable public debt to fixed rate or variable rate, by tender or by syndication. The characteristics of these securities are defined by order of the Minister of economy, finance and industry. The Decree States including dates of maturity and payment of coupons.
Article 2 more on this article...
The Minister of economy, finance and industry is authorized:-to Exchange or buy back, in the market, all negotiable public debt. The interest owed by the State securities exchanged or redeemed is paid for the accrued amount at the date of the Exchange or redemption;
-to perform operations of exchange of currencies or interest rates and purchases or sales of options or futures contracts;
-to issue for the benefit of the Fund of the public debt of the Treasury in current accounts bills and similar bonds of characteristics of the securities issued in accordance with article 1 of this decree or issued previously;
-to perform operations of pensions on titles of State loans and deposits of liquidity on the interbank market in euros, with the States of the euro area and with the public debt Fund.
Article 3 more on this article...
An order of the Minister of economy, finance and industry, published monthly in the Official Journal, described the operations carried out in application of this order during the previous month; It specifies notably:-the nominal amounts, due and dates of payment of coupons, rates, specifications and, if it is necessary, the issue price as a percentage of the nominal capital of each issue in application of article 1 of this Decree, as well as any terms of assimilation;
-the amounts of securities issued for the benefit of the Fund of the public debt in application of article 2 of this order;
-the nature and the total amount of operations for Exchange of currency or rate of interest and purchases or sales of Government Securities Futures or options;
-the amount of securities exchanged or redeemed, as well as the conditions of these exchanges with these purchases;
-the debt stock taken or made in pension, at the end of the month, as well as an average for the month;
-the amount of loans and deposits of liquidity on the interbank market in euros, with the States of the euro area and to the office of public debt, at the end of the month, as well as averaged over the month.
Article 4 more on this article...
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, on 31 December 2002.
Jean-Pierre Raffarin by the Prime Minister: the Minister of economy, finances and industry Francis Mer