Instruction No. 2006-04 of June 28, 2006 on the transmission to the Banking Commission by credit institutions, investment firms, and financial companies of consolidated financial documents established under IAS/IFRS standards

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COMMISSION BANCAIRE

Instruction No. 2006-04 regarding the transmission to the Banking Commission by credit institutions, investment firms and financial companies of consolidated financial documents established based on 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 Council Directive No 2006/48/EC of the European Parliament and of the Council of 14 June 2006 concerning the taking up and pursuit of the business of credit institutions; Having regard to Council Directive No 2006/49/EC of the European Parliament and of the Council of 14 June 2006 concerning the capital adequacy of credit institutions and investment firms; Having regard to the Monetary and Financial Code, particularly Article L. 613-8; Having regard to Ordinance No 2005-1516 of 8 December 2005 regarding electronic exchanges between users and administrative authorities and between administrative authorities; Having regard to the Regulation of the Banking and Financial Regulation Committee No 2000-03 of 6 September 2000, as amended, regarding prudential supervision on a consolidated basis; Having regard to Instruction No 93-01 of 29 January 1993, as amended, regarding the transmission to the Banking Commission by credit institutions and financial companies of their annual accounts, prudential documents as well as various information; Having regard to Instruction No 94-09 of 17 October 1994, as amended, regarding documents intended for the Banking Commission; Having regard to Instruction No 2005-01 of 31 May 2005 regarding the application of modifications to prudential regulation following the entry into application of international accounting standards IAS / IFRS; Having regard to Instruction No 2005-02 of 31 May 2005 regarding the transmission to the Banking Commission by credit institutions, investment firms and financial companies of consolidated summary documents established based on international accounting standards IAS / IFRS;

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Having regard to Recommendation No 2004-R.03 of the National Accounting Board of 27 October 2004 regarding the format of summary documents (balance sheet, income statement, statement of changes in equity and statement of cash flows) of companies under the jurisdiction of the Consultative Committee for Financial Legislation and Regulation under international accounting reference; Decides:
Article 1 - An Article 7bis is inserted into the aforementioned Instruction No 93-01:

« Article 7bis - The "establishments subject to and financial companies subject to IFRS standards" send the FINREP statements to the General Secretariat of the Banking Commission for the period ending 30 June, no later than 30 September, and for the period ending 31 December, no later than 28 February. The FINREP statements, with the exception of tables FIN 9, FIN 10, FIN 11, FIN 17, FIN 25, FIN 30D, FIN 30E, FIN 32, FIN 33 and FIN 34, are submitted twice a year, based on figures established in accordance with the provisions of Regulation No 2000- 03 aforementioned and finalized at the deadlines of 30 June and 31 December. Tables FIN 9, FIN 10, FIN 11, FIN 17, FIN 25, FIN 30D, FIN 30E, FIN 32, FIN 33 and FIN 34 are submitted annually, based on figures established in accordance with the provisions of the Regulation No 2000-03 aforementioned and finalized at the deadline of 31 December. These statements are sent to the General Secretariat of the Banking Commission by electronic transmission in XML – XBRL format according to the technical specifications necessary for their processing by the General Secretariat of the Banking Commission. They bear an electronic signature.

Article 2 - In the second paragraph of Article 3 of the aforementioned Instruction No 93-01, the following modifications are made:

• the terms "for the periods ending 30 June and 31 December" are
  replaced by the terms "for the period ending 31 December";
• the terms "no later than 31 October for the period ending 30 June and
  no later than 15 June for the period ending 31 December." are replaced by the terms "no later than 15 June following the date of the period end.".

Article 3 - Article 7 of the aforementioned Instruction No 93-01 is replaced
by the following provisions:

« Article 7 - The "establishments subject to" (Instruction No 2002-02 of 28 March 2002) "other than those subject to IFRS standards" (Instruction No 2005–01 of 31 May 2005), whether subject to prudential supervision on a consolidated or sub-consolidated basis under the provisions of Articles 2 and 5 respectively of Regulation No 2000-03 of the Banking and Financial Regulation Committee, and the financial companies referred to in Article 3 of Regulation No 2000-03 aforementioned " other than those subject to IFRS standards" (Instruction No 2005-02 of 31 May 2005), send to the General Secretariat of the Banking Commission, "a consolidated balance sheet

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– mod. 4900- and a "consolidated" income statement - mod. 4980- twice a year on the basis of figures finalized on 30 June before 30 September and on 31 December before 31 March" (Instruction No 2005–01 of 31 May 2005), established in accordance with the provisions of Regulation No 2000-03 aforementioned and whose models appear in
Annex 3 to this instruction. They attach to this "electronic transmission"
(Instruction No 99-03 of 22 June 1999) the accompanying listing of these statements and also communicate on paper support, the table relating to the variation of equity and minority interests which appears in Annex 4 of this instruction.". (Instruction No 2000–11 of 4 December 2000) »

Article 4 – The FINREP statements are annexed to this instruction.
Article 5 – Article 29 of the aforementioned Instruction No 2005-01 is
abolished.
Article 6 - The deadline for submitting the statements referred to in Article 7bis of
the aforementioned Instruction No 93-01 is four months for the deadline of 30 June 2007, then three months until the period ending 31 December 2008 inclusive. The tables FIN 7, FIN 8, FIN 14, FIN 15A, FIN 16, FIN 19, FIN 20, FIN 30C, FIN 31, FIN 36 and FIN 50 are submitted for the first time as of the period ending 31 December 2007.
Article 7 - The establishments subject to and financial companies
subject to IFRS standards, defined in Article 1 of the aforementioned Instruction No 93-01 and subject to prudential supervision on a sub-consolidated basis under the provisions of Article 5 of Regulation No 2000-03 of the Banking and Financial Regulation Committee, submit the statements referred to in Article 7bis of the aforementioned Instruction No 93-01 for the first time as of the period ending 31 December 2007.
Article 8 - This instruction enters into force as of
29 June 2007.
Paris, 28 June 2006
The President of the Banking Commission
Jean-Paul REDOUIN