Regulatory Alerts2012-06-28
Instruction No. 2012-I-03 of June 28, 2012, amending the annex to Instruction No. 2011-I-06 regarding the coverage ratio of land credit companies and housing finance companies
The Prudential Control Authority issued Instruction No. 2012-I-03 to amend the annex of Instruction No. 2011-I-06 concerning the coverage ratio of land credit companies and housing finance companies. This directive replaces the 'Elements for calculating the coverage ratio and monitoring limits' statement in Annex 1 with a new version provided in the current instruction's annex. The instruction entered into force immediately upon its issuance on June 28, 2012.
PRUDENTIAL CONTROL AUTHORITY
Instruction No. 2012-I-03 amending the annex to Instruction No. 2011-I-06 regarding the coverage ratio of land credit companies and housing finance companies
The Prudential Control 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 Regulation No. 99-10 of the Banking and Financial Regulation Committee dated July 9, 1999, as amended, relating to land credit companies and housing finance companies;
Having regard to Instruction No. 2011-I-06 of June 15, 2011, regarding the coverage ratio of land credit companies and housing finance companies;
Having regard to the opinion of the Prudential Affairs Consultative Committee dated June 14, 2012,
Decides:
Article 1
The statement "Elements for calculating the coverage ratio and monitoring limits," presented in Annex 1 of Instruction No. 2011-I-06, is modified and replaced by that of the annex to this instruction.
Article 2
This instruction enters into force immediately.
Paris, June 28, 2012
The President of the Prudential Control Authority, [Christian NOYER]