Banking systems in France
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| Banking systems in France |
Included are unique characteristics of this country's banking system, as well as rules and laws that may have an impact on OS business.
In 1984, the French banking industry underwent a major structural change that eliminated most distinctions between commercial and merchant banks and consolidated most financial institutions under a single supervisory structure.
Crédit Agricole - LCL, BPCE (Banque Populaire Caisse d'Épargne), Société Générale, BNP Paribas, Natixis, Crédit Mutuel - CIC group, and HSBC France are some of the world's major commercial banks.Short, medium, and long-term loans, short- and medium-term credit facilities, and secured and unsecured overdrafts are all available through these commercial banks.
Commercial banks also help with public stock and debt offerings, as well as mergers, acquisitions, and takeovers. Hedging against interest rate and currency volatility is available from banks. There are 132 foreign banks in France, several of which have large branch networks.
The Bank of France (Banque de France) is a member of the European Central Bank (ECB), and its governor is a member of the European Central Bank's executive board. In January 2002, the Banque de France introduced Euro-denominated banknotes and coins, effectively ending the French franc's existence.
The Banque de France is involved in the oversight and regulation of the French banking and financial system.Its governor also serves as the head of the Prudential Control Authority, which issues or revokes banking licenses, monitors bank compliance with banking regulations, and oversees insurance businesses.
In July 2013, France implemented a banking legislation reform that separates client services from proprietary trading activities in order to protect depositors from danger.Because it oversees the design and implementation of measures to avoid and manage bank crises, the Prudential Control Authority was renamed the Prudential Supervisory and Resolution Authority.
The majority of the French government's stock investments in major banks and insurance businesses have been sold. It does, however, own the "Caisse des Dépôts et Consignations" and holds minority shares in a number of large financial institutions.
The independent public company La Poste, the French postal service, controls 10% of the French financial services sector.La Poste established its own bank, "La Banque Postale," which was granted ordinary banking status in 2006. Alternatively, you can access the Commerce Department's Market Research Library by going to Country and Industry Market Reports: .
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