Decision No. 2026-03 Amending Decision No. 2020-02 on Temporary Additional Measures Concerning Refinancing Operations of the Banque de France and Eligibility of Collateral

Decision No. 2026-03 of March 25, 2026, amending Decision No. 2020-02 of April 20, 2020, concerning additional temporary measures regarding the refinancing operations of the Banque de France and the eligibility of collateral

THE GOVERNOR OF THE BANQUE DE FRANCE

Having regard to:

• the Treaty on the Functioning of the European Union, and in particular Article 127(1) and Article 127(2), first indent,
• the Statute of the European System of Central Banks and of the European Central Bank (ECB), and in particular Articles 3.1, first indent, 12.1, 14.3, and 18.2,
• ECB Guideline (EU) 2014/528 of July 9, 2014, on additional temporary measures concerning the refinancing operations of the Eurosystem and the eligibility of collateral amending Guideline ECB/2007/9 (ECB/2014/31), as amended,
• ECB Guideline (EU) 2015/510 of December 19, 2014, on the implementation of the Eurosystem monetary policy framework (ECB/2014/60), as amended,
• ECB Guideline (EU) 2022/989 of May 2, 2022, amending Guideline ECB/2014/31 on additional temporary measures concerning the refinancing operations of the Eurosystem and the eligibility of collateral (ECB/2022/19),
• ECB Guideline (EU) 2023/833 of December 16, 2022, amending Guideline ECB/2014/31 on additional temporary measures concerning the refinancing operations of the Eurosystem and the eligibility of collateral (ECB/2022/50),
• ECB Guideline (EU) 2026/691 of January 22, 2026, amending Guideline ECB/2014/31 on additional temporary measures concerning the refinancing operations of the Eurosystem and the eligibility of collateral (ECB/2026/3),
• the Monetary Agreement between the European Union and the Principality of Monaco of November 29, 2011,
• the Monetary and Financial Code, and in particular Article L. 142-8,
• Decision D-HCSF-2021-7 of September 29, 2021, on the conditions for granting mortgage loans,
• the Governor of the Banque de France Decision No. 2015-01 of April 22, 2015, on the implementation of the monetary policy and intraday credit policy of the Banque de France, as amended,
• the Governor of the Banque de France Decision No. 2020-02 of April 20, 2020, on additional temporary measures concerning the refinancing operations of the Banque de France and the eligibility of collateral, as amended.

HEREBY DECIDES

Article 1 Amendments

Decision No. 2020-02 of April 20, 2020, of the Governor of the Banque de France concerning additional temporary measures regarding the refinancing operations of the Banque de France and the eligibility of collateral (hereinafter "the Decision") is amended as follows:

1. Article 3 is repealed.
2. Article 4 is repealed.
3. Article 7 is repealed.
4. Article 8 is repealed.
5. Annex II bis is repealed.

Article 2 Entry into Force and Implementation

1. This Decision shall be published in the Official Publication Register of the Banque de France.
2. It shall enter into force on March 30, 2026.
3. This Decision shall apply in the overseas departments and regions, in Saint-Barthélemy, in Saint-Martin, in Saint-Pierre-and-Miquelon, as well as in the Principality of Monaco.

Done in Paris, March 25, 2026

The Governor of the Banque de France François VILLEROY de GALHAU

ANNEX

Annex II bis is repealed.