Regulatory Alerts2023-10-23
Instruction No. 2023-I-19 of October 23, 2023, on Applications for Approval of Third-Country Credit Institution Branches
The Prudential Control and Resolution Authority (ACPR) issued Instruction No. 2023-I-19 to establish the procedural requirements for third-country credit institutions seeking approval to open branches in France. The instruction mandates that applicants submit a complete application dossier using the specific electronic form provided in the annex via the ACPR portal. This regulatory framework implements relevant provisions of the Capital Requirements Regulation and the French Monetary and Financial Code to ensure prudent oversight of incoming branches.
PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY
Instruction No. 2023-I-19 on applications for approval of third-country credit institution branches modified by Instruction No. 2024-I-13 of October 24, 2024
The Prudential Control and Resolution Authority (ACPR), Having regard to Article 4(1)(17) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012; Having regard to the Monetary and Financial Code, particularly Articles L. 511-10 and R. 511-2-1 thereof; Having regard to the Order of December 4, 2017, relating to the approval, modification of status, and withdrawal of approval of credit institutions; Having regard to the opinion of the Prudential Affairs Consultative Committee of October 10, 2023,
DECIDES
Article 1: Hereinafter referred to as "third-country credit institution branches" are the branches mentioned in I of Article L. 511-10 of the Monetary and Financial Code.
Article 2: Persons requesting approval from the competent authority for a branch of a third-country credit institution must submit a complete application dossier to said authority using the form set out in the annex to this instruction.
Article 3: This form, along with any requested supplementary documents, must be completed electronically and submitted via the portal accessible at the following address: https://acpr-portail.banque-france.fr
Article 4: This instruction shall enter into force on the day following its publication in the Official Register of the Prudential Control and Resolution Authority.
Paris, October 23, 2023 The Designated President, Denis BEAU