Regulatory Alerts1998-04-10
Instruction No. 98-05 of April 10, 1998, as amended, regarding the accounting treatment of prior assignments of private receivables and lease rental receivables eligible for refinancing by the Bank of France
The Banking Commission issued Instruction No. 98-05 to define the accounting treatment for credit institutions assigning private receivables and lease rental receivables as collateral to the Bank of France prior to refinancing. The instruction mandates that these assigned receivables be recorded in the 'Given Commitments' element of the SITUATION table and treated as repurchase operations, with specific rules for their removal from off-balance sheet items during mobilization and their reintegration upon refinancing maturity. The instruction entered into force upon the implementation of new Bank of France provisions regarding monetary market operations.
Share