Key Benefits:
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);
Due to the financial law for 2004 (n ° 2003-1311 of 30 December 2003),
Describes:
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.
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 the Public Debt of Treasury Bills 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.
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 Public Debt Fund pursuant to Article 2 of this Decree;
-nature and 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 Takeovers;
-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 to the euro area The Public Debt Fund at the end of the month, and on average over the month.
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 2003.
Jean-Pierre Raffarin
By the Prime Minister:
The Minister of Economy,
finance and industry,
Francis Mer
