Official Texts of the Banking Commission

Instructions published by the Banking Commission during the month of June 2008

Instruction No. 2008-05

Regarding the coverage ratio of credit institutions

The Banking Commission,

Having regard to the Monetary and Financial Code, particularly Articles L. 515-13 to L. 515-33 as well as L. 613-8 and R. 515-2 to R. 515-14;

Having regard to Regulation No. 99-10 of July 9, 1999, as amended, of the Banking and Financial Regulation Committee regarding credit institutions;

Having regard to Instruction No. 94-09 of the Banking Commission of October 17, 1994, regarding documents intended for the Banking Commission;

Having regard to Instruction No. 99-09 of the Banking Commission of August 30, 1999, regarding the calculation of the coverage ratio of privileged resources by asset elements applicable to credit institutions;

Having regard to Instruction No. 99-10 of the Banking Commission of August 30, 1999, as amended by Instruction No. 2000-05 of April 19, 2000, regarding the coverage of excesses in the financing quota by non-privileged resources applicable to credit institutions;

Decides:

Article 1 – The establishments subject to this instruction are credit institutions authorized as credit institutions within the meaning of Article L. 515-13 of the Monetary and Financial Code.

Article 2 – Credit institutions shall send a report to the Banking Commission containing information on:

i) the calculation of the coverage ratio mentioned in Article L. 515-20 of the Monetary and Financial Code;

ii) compliance with limits relating to asset composition;

iii) the calculation of amounts eligible for refinancing through privileged resources;

This report is submitted twice a year based on figures finalized on June 30 and December 31. It is transmitted to the General Secretariat of the Banking Commission within three months following the finalization date, in paper form, signed by a responsible executive, and completed by the certification visa of the specific auditor, in application of Article L. 515-30 of the Monetary and Financial Code.

Article 3 – The report referred to in Article 2 must include the information listed and described in Annexes 1 and 2 to this instruction. The numerical information is extracted from the accounting and information systems of the establishments subject to this instruction.

Article 4 – Instructions No. 99-09 and 99-10 of the Banking Commission of August 30, 1999, are repealed.

Official Bulletin of the CECEI and the Banking Commission • No. 4 • June 2008 | 15

OFFICIAL TEXTS OF THE BANKING COMMISSION
Instructions published by the Banking Commission during the month of June 2008

Article 5: The third paragraph of Article 2 of Instruction No. 2007-01, as amended, is replaced by "the report established in application of Instruction No. 2008-05 does not fall under this instruction."

Article 6: This instruction enters into force immediately.

Paris, June 20, 2008

The President of the Banking Commission,

Jean-Paul REDOUIN

Official Bulletin of the CECEI and the Banking Commission • No. 4 • June 2008 | 16