Regulatory Alerts2009-06-19
Instruction No. 2009-02 of June 19, 2009 Repealing or Modifying Several Instructions of the Banking Commission
The French Banking Commission issued Instruction No. 2009-02 to repeal 28 outdated regulatory directives and amend 13 existing instructions governing prudential reporting, accounting standards, and risk management for credit institutions and financial companies. The amendments primarily modernize reporting formats by replacing legacy model numbers with standardized electronic table codes, align submission deadlines with IFRS requirements, and update terminology to reflect euro adoption and European Economic Area regulations. This directive takes effect on June 30, 2010, ensuring that supervised entities comply with updated prudential consolidation, derivative accounting, and foreign exchange transaction reporting frameworks.
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