Regulatory Alerts2004-10-11
Instruction No. 2004-05 of October 11, 2004 Amending Instruction No. 2000-08 of September 4, 2000 Regarding Risk Division for Deposit Guarantee Fund Contribution Allocation
The French Banking Commission issued Instruction No. 2004-05 to amend the risk division rules used for calculating contributions to the Deposit Guarantee Fund. This amendment specifically extends the scope of Instruction No. 2000-08 to include electronic money institutions as defined by Regulation No. 2002-13. The changes were adopted on October 11, 2004, and entered into force immediately.
BANKING COMMISSION
Instruction No. 2004-05 Amending Instruction No. 2000-08 of September 4, 2000 Regarding the division of risks for the calculation of the allocation of contributions to the deposit guarantee fund
The Banking Commission, Having regard to the Monetary and Financial Code, particularly Article L.613-8 thereof, Having regard to Regulation No. 93-05 of December 21, 1993, as amended, of the Committee for Banking and Financial Regulation concerning the monitoring of large exposures, Having regard to Regulation No. 99-05 of July 9, 1999, as amended, of the Committee for Banking and Financial Regulation concerning the guarantee of deposits and other refundable funds received by credit institutions having their registered office in France as well as in the Principality of Monaco, Having regard to Regulation No. 99-06 of July 9, 1999, as amended, of the Committee for Banking and Financial Regulation concerning the resources and operation of the deposit guarantee fund, Having regard to Regulation No. 2002-11 of November 21, 2002 of the Committee for Banking and Financial Regulation concerning the total amount of contributions to the deposit guarantee fund, Having regard to Regulation No. 2002-13 of the Committee for Banking and Financial Regulation of November 21, 2002 concerning electronic money and electronic money institutions, Having regard to Instruction No. 2000-08 of September 4, 2000 of the Banking Commission concerning the division of risks for the calculation of the allocation of contributions to the deposit guarantee fund, Decides: Article 1 – The words "electronic money institutions as defined by Article 2 of Regulation No. 2002-13," are inserted in Article 1 of Instruction No. 2000-08 after the words "aforementioned Regulation No. 93-05". Article 2 – This Instruction shall enter into force immediately. Paris, October 11, 2004 The President of the Banking Commission, Hervé HANNOUN