Regulatory Alerts1995-02-24
Instruction No. 95-02 of February 24, 1995 amending Instruction No. 93-01 regarding the transmission to the Banking Commission of annual accounts, prudential documents, and other information
The Banking Commission issued Instruction No. 95-02 to amend Instruction No. 93-01, thereby extending reporting obligations for annual accounts, prudential documents, and other information to financial companies in addition to credit institutions. The amendment requires financial companies to prepare and publish consolidated accounts in accordance with Regulation No. 85-12 and updates references to European Union and European Economic Area member states. Furthermore, the instruction modifies specific articles to remove outdated terminology and align procedural references with current regulatory frameworks.
BANKING COMMISSION Instruction No. 95-02 amending Instruction No. 93-01 regarding the transmission to the Banking Commission by credit institutions and financial companies of their annual accounts, prudential documents, and other information
The Banking Commission,
Having regard to Law No. 84-46 of January 24, 1984, as amended, relating to the activity and control of credit institutions, in particular its Articles 40 and 74;
Having regard to Regulation No. 94-03 of December 8, 1994 of the Banking Regulation Committee relating to financial companies and amending various regulations concerning the supervision of credit institutions on a consolidated basis;
Having regard to Instruction No. 93-01 of January 29, 1993 of the Banking Commission regarding the transmission to the Banking Commission by credit institutions of their annual accounts, periodic documents, and other information,
Decides:
Article 1.
Article 1 of the aforementioned Instruction No. 93-01 is supplemented by the following provisions:
"Consolidated accounts, prepared as of December 31, of financial companies shall be prepared and published under the conditions provided for in Article 18 of the aforementioned amended Regulation No. 85-12."
Article 2.
2.1. - In the first paragraph of Article 3 of the aforementioned Instruction No. 93-01, the words: "The institutions referred to in Article 1 of the aforementioned amended Regulation No. 85-12 of the Banking Regulation Committee" are supplemented by the words: "and the financial companies referred to in Article 18 of said Regulation".
2.2. - In the second paragraph of Article 3 and in Article 11 of the aforementioned Instruction No. 93-01, the words: "Credit institutions" are supplemented by the words: "and financial companies".
2.3. - In Article 7 of the aforementioned Instruction No. 93-01, the words: "The institutions referred to in Article 1 of the aforementioned amended Regulation No. 85-12" are supplemented by the words: "and financial companies".
Article 3.
In the third paragraph of Article 4 of the aforementioned Instruction No. 93-01, the words: "a State that is not a member of the European Communities" are replaced by the words: "a State that is not a party to the Agreement on the European Economic Area" and the words: "of the member countries of the European Communities" are replaced by the words: "of the member countries of the European Union or parties to the Agreement on the European Economic Area".
Article 4.
4.1. - Chapter 2 of the aforementioned Instruction No. 93-01 is entitled "PRUDENTIAL DOCUMENTS".
4.2. - In the first paragraph of Article 9 of the aforementioned Instruction No. 93-01, the word: "periodic" is removed as well as the first bullet point of the two paragraphs of the same article.
Article 5.
In the second paragraph of Article 10 of the aforementioned Instruction No. 93-01, the words: "Instructions No. 91-03 and No. 89-05" are replaced by the words: "Instructions No. 94-01 and No. 89-05".
Article 6.
In the second paragraph of Article 14 of the aforementioned Instruction No. 93-01, the words: "The institutions" are supplemented by the words: "and financial companies".
Paris, February 24, 1995
The President of the Banking Commission