France - Banking Systems France - Banking Systems
The Bank of France (Banque de France) is a member of the European Central Bank (ECB) system and the Banque de France's governor sits on the executive board of the European Central Bank. The Banque de France introduced Euro-denominated banknotes and coins in January 2002, completing the transition to the Euro and eliminating the French franc.
The Banque de France participates in the regulation and supervision of the French banking and financial system. Its governor is also president of the Prudential Control Authority, which grants or withdraws banking licenses, ensures that banks adhere to banking regulations, and supervises insurance companies. In July 2013, France passed a reform of the banking law which separates customer services from the proprietary trading activities in order to reduce the risks incurred by the depositors. The Prudential Control Authority was renamed the Prudential Supervisory and Resolution Authority as it is supervising the preparation and implementation of measures to prevent and resolve bank crises.
The French government has sold the majority of its equity stakes in major banks and insurance companies. However, it retains ownership of the “Caisse des Dépôts et Consignations” and minority stakes in several major financial institutions. The French postal service, La Poste, an independent public entity, holds 10% of the French financial services market. La Poste has created its own bank, “La Banque Postale”, which acquired the status of a regular bank in 2006.
Alternatively, the Commerce Department’s Market Research Library is available under Country and Industry Market Reports: Market Intelligence
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.