Regulatory Alerts2022-02-08
Instruction No. 2022-I-02 of 8 February 2022 on the surveillance of risks on residential mortgages in France
The Prudential Control and Resolution Authority issued Instruction No. 2022-I-02 to update the regulatory framework for monitoring residential mortgage risks in France. The directive replaces the previous CREDITHAB table established by Instruction No. 2021-I-02 with a new annexed table to enhance data collection and risk assessment. This instruction entered into force on 1 July 2022 following consultation with the Prudential Affairs Consultative Commission.
PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY
Instruction No. 2022-I-02 on the surveillance of risks on residential mortgages in France
The Prudential Control and Resolution Authority,
Having regard to the Monetary and Financial Code, in particular Articles L. 515-13 to L. 515-39 as well as L. 612-24 and R. 515-2 to R. 515-17;
Having regard to Recommendation No. CERS/2016/14 of the European Systemic Risk Board of 31 October 2016 aimed at filling gaps in real estate data, as amended by Recommendation No. CERS/2019/3;
Having regard to Decision No. D-HCSF-2021-7 of the High Council for Financial Stability of 29 September 2021 on developments in the French residential real estate market in terms of credit granting;
Having regard to the opinion of the Prudential Affairs Consultative Commission of 28 January 2022,
DECIDES
Article 1: The CREDITHAB table established by Instruction No. 2021-I-02 is replaced by the table in the annex to this Instruction.
Article 2: This Instruction shall enter into force on 1 July 2022.
Paris, 8 February 2022
The Designated President, Denis BEAU