Instruction No. 2005-02 of May 31, 2005 on the transmission to the Banking Commission of consolidated summary documents by credit institutions, investment firms, and financial companies

COMMISSION BANCAIRE

Instruction No. 2005-02 of May 31, 2005 on the transmission to the Banking Commission by credit institutions, investment firms, and financial companies of consolidated summary documents established from international accounting standards IAS / IFRS

The Banking Commission, Having regard to Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards; Having regard to the Monetary and Financial Code; Having regard to the regulation of the Banking and Financial Regulation Committee No. 97-03 modified on February 21, 1997 relating to the establishment and publication of accounts of investment firms other than portfolio management companies; Having regard to the regulation of the Accounting Regulation Committee No. 99-07 of November 24, 1999 relating to the consolidation rules of companies under the Banking and Financial Regulation Committee, modified by regulation No. 2000-04 of July 4, 2000; Having regard to regulation No. 2002-05 of December 12, 2002 of the Accounting Regulation Committee, relating to the consolidated summary documents of investment firms; Having regard to Recommendation No. 2004-R.03 of the National Accounting Council of October 27, 2004 relating to the format of summary documents (balance sheet, income statement, statement of changes in equity, and cash flow statement) of companies under the Consultative Committee for Financial Legislation and Regulation under international accounting standards; Having regard to Instruction No. 93-01 modified on January 29, 1993 relating to the transmission to the Banking Commission by credit institutions and financial companies of their annual accounts, prudential documents, and various information; Having regard to Instruction No. 94-09 modified on October 17, 1994, relating to documents intended for the Banking Commission; Decides:

Chapter 1

Modifications related to the new IFRS standards

Article 1 - Article 1 of the aforementioned Instruction No. 93-01 is supplemented by the following paragraphs:

"The 'subject institutions and financial companies subject to IFRS' are the subject institutions and financial companies referred to in Article L. 517-1 of the Monetary and Financial Code, which are subject to prudential supervision on a consolidated basis in accordance with Regulation No. 2000-03 of September 6, 2000, and which publish consolidated accounts according to international accounting standards within the meaning of Regulation (EC) No 1606-2002, due to the mandatory or optional application of this Regulation.

The 'subject institutions and financial companies subject to IFRS' also include the subject institutions and financial companies referred to in Article L. 517-1 of the Monetary and Financial Code subject to prudential supervision on a sub-consolidated basis in the absence of any accounting obligation in this matter, when the consolidated accounts of their parent company are published in IFRS under the conditions of the preceding paragraph.

The IFRS standards referred to in this instruction correspond to international accounting standards IAS / IFRS and SIC / IFRIC interpretations, in their latest version adopted by the European Commission in application of European Regulation (EC) No 1606-2002."

Article 2 - In the first paragraph of Article 3 of the aforementioned Instruction No. 93-01, the words "other than those subject to IFRS" are added after the words "The subject institutions and financial companies referred to in Article L. 517-1 of the Monetary and Financial Code".

The following second paragraph is inserted:

"Subject institutions and financial companies subject to IFRS, with the exception of those subject to prudential supervision on a sub-consolidated basis in the absence of any accounting obligation in this matter, shall send to the General Secretariat of the Banking Commission, for the statements of June 30 and December 31, a publishable consolidated balance sheet - mod. 4990i - including off-balance sheet items, and a publishable consolidated income statement - mod. 4999i - by electronic transmission along with the accompanying listing. The notes to the consolidated balance sheet and the consolidated income statement, a statement of changes in equity, and a cash flow statement prepared in accordance with IFRS must be attached to these documents. These statements and documents must be sent no later than October 31 for the June 30 statement and no later than June 15 for the December 31 statement."

Article 3 - In the first paragraph of Article 5 of the aforementioned Instruction No. 93-01, the expression "-mod. 4990 or 4990i-" replaces the expression "-mod. 4990-" and the expression "- mod. 4999 or 4999i-" replaces the expression "-mod. 4999-".

Article 4 - In Article 7 and Article 7 bis of the aforementioned Instruction No. 93-01, the words "other than those subject to IFRS" are added before the word "send".

Article 5 - The new forms -mod. 4990i- and -mod. 4999i-, established in accordance, regarding the balance sheet and income statement, with Recommendation No. 2004-R.03 of the National Accounting Council of October 27, 2004 mentioned above, are attached as an annex to this instruction.

Chapter 2

Various provisions not related to the new IFRS standards

Article 6 - In Article 8 of the aforementioned Instruction No. 93-01, the words "and the financial companies referred to in Article L. 517-1 of the Monetary and Financial Code" are added after the words "the subject institutions".

Article 7 - In Article 9 of the aforementioned Instruction No. 93-01, the expression "4007" is added after the expression "4006" and the expression "No. 2004-02, No. 2004-03" is added after the expression "No. 96-01".

Article 8 - In Article 10 of the aforementioned Instruction No. 93-01, the expression "Commission des opérations de bourse" is replaced by the expression "Autorité des marchés financiers".

Article 9 - The form -mod. 4033- relating to the list of affiliates and the elements for calculating the deposit base of networks for the deposit guarantee contribution, annexed to the aforementioned Instruction No. 94-09, is sent to the Banking Commission within three months following the statement dates of June 30 and December 31, instead of 30 days.

Article 10 - This instruction enters into force as of the statement of June 30, 2005.

Paris, May 31, 2005 The President of the Banking Commission Hervé HANNOUN

ANNEX

PUBLISHABLE CONSOLIDATED IFRS BALANCE SHEET — mod. 4990i —

PRESENTATION The publishable IFRS consolidated balance sheet — mod. 4990i — is a summary document common to all subject institutions that publish consolidated accounts according to international accounting standards, due to the mandatory or optional application of Regulation (EC) No 1606/2002.

The elements constituting the non-banking activity consolidated by full or proportional integration are included in the same nature items already present in the balance sheet or the consolidated off-balance sheet.

CONTENT Lines 095, 100, and 105 of the liabilities may be served with a negative sign.

Lines The asset and liability items of the publishable IFRS consolidated balance sheet — mod. 4990i — are established by observing the specific comments found in the recommendation of the CNC No. 2004-R.03 of October 27, 2004 relating to the format of summary documents of companies under the CCLRF under international accounting standards.

For the Assets Item 010 – Cash, Central Banks, CCP This item mainly includes cash and balances with central banks, the issuing institute, and the postal check office.

Item 015 – Financial assets at fair value through profit or loss This item records all financial assets at fair value through profit or loss as defined in paragraph 9 of IAS 39. The positive fair value of derivative instruments as defined in paragraph 9 of IAS 39 that are not qualified as hedging instruments is also included in this item.

Item 020 – Hedging derivative instruments This item includes the positive fair value of instruments qualified as hedging instruments in accordance with the provisions of IAS 39.

Item 025 – Financial assets available for sale This item groups all financial assets available for sale as defined in paragraph 9 of IAS 39.

Item 030 – Loans and advances to credit institutions This item covers: • All loans and advances as defined in paragraph 9 of IAS 39 held for banking operations with credit institutions, • Subordinated claims on credit institutions, • Claims on credit institutions arising from finance lease operations as defined in paragraphs 4 to 6 of IAS 17.

Item 035 – Loans and advances to customers This item includes: • All loans and advances as defined in paragraph 9 of IAS 39 held on economic agents other than credit institutions, • Subordinated claims held on economic agents other than credit institutions, • Claims arising from factoring operations held on economic agents other than credit institutions, • Claims held on economic agents other than credit institutions arising from finance lease operations as defined in paragraph 4 of IAS 17, • Claims relating to reinsurance operations and advances made to insured parties.

Item 040 – Fair value adjustment of interest rate hedged portfolios This item records the fair value variations of asset or liability amounts subject to a global interest rate hedge in accordance with the provisions of IAS 39.

Item 045 – Financial assets held to maturity This item includes financial assets held to maturity as defined in paragraph 9 of IAS 39.

Item 050 – Current tax assets This item includes current tax assets as defined in paragraph 12 of IAS 12.

Item 055 – Deferred tax assets This item includes deferred tax assets as defined in paragraphs 5 and 12 of IAS 12.

Item 060 – Accruals and other assets This item records accrual accounts such as settlement and receipt accounts for securities.

Other assets may include gold and precious metal stocks, stocks related to real estate development activities, and security deposits.

Uncalled or unpaid subscribed capital, although called, of subscribed capital is recorded in this item.

This item also lists stocks and claims on third parties that do not appear in other asset items, such as reinsurers' shares in technical provisions.

Finally, this item also includes biological assets as defined in paragraph 5 of IAS 41, if they are not significant.

Item 065 - Non-current assets held for sale This item includes non-current assets held for sale in accordance with the provisions of IFRS 5.

Item 070 - Investments in equity-accounted companies This item covers shares and other variable-income securities held in equity-accounted companies and associated companies as defined in paragraph 2 of IAS 28, as well as in joint ventures accounted for using the equity method in accordance with the provisions of IAS 31.

Item 075 - Investment property This item includes investment property as defined in paragraph 5 of IAS 40, and notably real estate acquired for simple leasing as defined in paragraphs 4 to 6 of IAS 17. It also includes vacant buildings held for leasing under a simple lease contract.

Item 080 - Tangible fixed assets This item includes operating tangible fixed assets as defined in paragraph 6 of IAS 16 and movable assets acquired for simple leasing as defined in paragraph 4 of IAS 17. It also includes movable assets previously leased under a finance lease contract.

Item 085 - Intangible fixed assets This item includes intangible fixed assets as defined in paragraph 8 of IAS 38.

Item 090 - Goodwill This item lists, for its initial amount upon entry into the consolidation scope and, if applicable, for its net amount of sums subsequently charged to the income statement, positive goodwill.

Subsequent to the transition date to IFRS, this goodwill is determined in accordance with the provisions of IFRS 3.

For the Liabilities Item 010 - Central Banks, CCP This item mainly lists sight liabilities towards central banks, the issuing institute, and the postal check office.

Item 015 - Financial liabilities at fair value through profit or loss This item records all financial liabilities at fair value through profit or loss as defined in paragraph 9 of IAS 39. The negative fair value of derivative instruments as defined in paragraph 9 of IAS 39 that are not qualified as hedging instruments is also included in this item.

Item 020 - Hedging derivative instruments This item includes the negative fair value of derivative instruments qualified as hedging instruments in accordance with the provisions of IAS 39.

Item 025 - Liabilities to credit institutions This item covers financial liabilities, as defined in paragraph 8 of IAS 39, for banking operations towards credit institutions, with the exception of debt represented by securities defined in item 035 and subordinated debts listed in item 075 of the liabilities.

Item 030 - Liabilities to customers This item covers financial liabilities, as defined in paragraph 8 of IAS 39, towards economic agents other than credit institutions, with the exception of debt represented by securities defined in item 035 and subordinated debts listed in item 075 of the liabilities.

Liabilities arising from reinsurance operations and liabilities towards insured parties, notably those relating to premiums paid on investment contracts as defined in paragraph B 19 of IFRS 4, are also included in this item.

Item 035 - Debt represented by securities This item includes debt represented by securities, with the exception of subordinated securities which are listed in item 075 of the liabilities.

Item 040 - Fair value adjustment of interest rate hedged portfolios This item records the fair value variations of asset or liability amounts subject to a global interest rate hedge in accordance with the provisions of IAS 39.

Item 045 - Current tax liabilities This item includes current tax liabilities as defined in paragraph 12 of IAS 12.

Item 050 - Deferred tax liabilities This item includes deferred tax liabilities as defined in paragraphs 5 and 12 of IAS 12.

Item 055 - Accruals and other liabilities This item records liabilities towards third parties, including employees, that do not appear in other liability items.

Item 060 - Liabilities related to non-current assets held for sale This item includes liabilities related to non-current assets held for sale in accordance with the provisions of IFRS 5.

Item 065 - Technical provisions of insurance contracts This item includes all technical provisions of insurance contracts as defined in Annex A of IFRS 4.

Item 070 - Provisions for risks and charges This item covers provisions meeting the provisions of IAS 37 and IAS 19 regarding employee benefits.

Item 075 - Subordinated debts This item includes: • Funds from the issuance of subordinated securities or loans, with fixed or indefinite terms; • Mutual security deposits.

Item 080 - Equity This item is the total of items 085, group equity, and 110, minority interests.

Item 085 - Group equity This item is a subtotal of items 090 to 105.

Item 090 - Capital and related reserves This item corresponds to the value of shares, partnership interests, and other securities making up the share capital, as well as sums that represent them or are assimilated to them, such as the equity components of hybrid instruments issued by the parent company in accordance with IAS 32 and transactions where payment is based on the parent company's shares in accordance with IFRS 2.

It also includes premiums related to subscribed capital, notably issuance, contribution, merger, demerger, or conversion of bonds into shares premiums.

Treasury shares deducted from equity are included in this item.

Item 095 - Consolidated reserves This item notably includes consolidated reserves, including the impact of changes in accounting methods.

This item contains only the group share, the minority interest share being recorded in item 080.

Item 100 - Latent or deferred gains or losses This item includes differences arising from the fair value revaluation of balance sheet items recyclable into profit, and notably: • The positive or negative conversion difference arising from the conversion of foreign company balance sheet equity expressed in currencies, • The effects of the revaluation of derivative instruments assigned to cash flow hedges and net investments in foreign currencies in accordance with IAS 39, • The effects of the revaluation of financial assets available for sale in accordance with IAS 39, • The possible revaluation of tangible fixed assets in accordance with IAS 16.

Item 105 - Result of the fiscal year This item records the consolidated profit or loss of the fiscal year. It contains only the group share, the minority share being recorded in item 110.

Item 110 - Minority interests This item includes the interests of minority associates in the equity of consolidated entities.

For the Off-Balance Sheet

To the extent that a credit derivative instrument can be recorded either as a guarantee if the intention is to protect against the default of an identified debtor, or as a financial derivative instrument within the meaning of IAS 39, these instruments are therefore listed either among guarantee commitments or among commitments on financial derivative instruments.

Regarding commitments on financial derivative instruments, amounts are recorded:

• for the nominal value of firm contracts,
• for the nominal value of the exercise price of the underlying instrument for conditional operations.

Doubtful commitments are commitments of any nature whose triggering appears probable.

Columns The columns indicate the figures for fiscal year N and fiscal year N - 1

SUBMISSION RULES

Submitting Institutions Subject institutions and financial companies subject to IFRS, with the exception of those subject to prudential supervision on a sub-consolidated basis in the absence of any accounting obligation regarding publication.

Territoriality Institutions submit a document relating to all activity zones.

Currency Institutions submit a document established in euros that traces their operations in euros or in foreign currencies (evaluated in euro counter-value).

Periodicity Semi-annual submission.

PUBLISHABLE CONSOLIDATED IFRS BALANCE SHEET — mod. 4990i — IN THOUSANDS OF EUROS

NAME: ..............................................................................................................

Statement Date 1 K F 0 0 1 9 Activity all zones 3 TM A M M CIB LC Fiscal Year N Fiscal Year N –1* ASSET Item Code 1 2 CASH, CENTRAL BANKS, CCP........................................................................ 010 ….. ….. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS..................................... 015 ….. ….. HEDGING DERIVATIVE INSTRUMENTS .............................................................. 020 ….. ….. FINANCIAL ASSETS AVAILABLE FOR SALE....................................................... 025 ….. ….. LOANS AND ADVANCES TO CREDIT INSTITUTIONS .......................... 030 ….. ….. LOANS AND ADVANCES TO CUSTOMERS................................................................ 035 ….. ….. FAIR VALUE ADJUSTMENT OF INTEREST RATE HEDGED PORTFOLIOS .............. 040 ….. ….. FINANCIAL ASSETS HELD TO MATURITY ........................................... 045 ….. ….. CURRENT TAX ASSETS..................................................................................... 050 ….. ….. DEFERRED TAX ASSETS ....................................................................................... 055 ….. ….. ACCRAULS AND OTHER ASSETS............................................... 060 ….. ….. NON-CURRENT ASSETS HELD FOR SALE................................................ 065 ….. ….. INVESTMENTS IN EQUITY-ACCOUNTED COMPANIES.................. 070 ….. ….. INVESTMENT PROPERTY....................................................................................... 075 ….. ….. TANGIBLE FIXED ASSETS............................................................................. 080 ….. ….. INTANGIBLE FIXED ASSETS ......................................................................... 085 ….. ….. GOODWILL................................................................................................. 090 ….. ….. TOTAL ASSETS...................................................................... L98 ….. …..

• This column should not appear on the transmitted document.

PUBLISHABLE CONSOLIDATED IFRS BALANCE SHEET — mod. 4990i — IN THOUSANDS OF EUROS

NAME: ..............................................................................................................

Statement Date 1 K F 0 0 2 9 Activity all zones 3 TM A M M CIB LC Fiscal Year N Fiscal Year N –1* LIABILITIES Item Code 1 2 CENTRAL BANKS, CCP ....................................................................................... 010 ….. ….. FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS................................... 015 ….. ….. HEDGING DERIVATIVE INSTRUMENTS .............................................................. 020 ….. ….. LIABILITIES TO CREDIT INSTITUTIONS ....