Instruction No. 2016-I-09 of March 11, 2016, on the coverage ratio of land credit companies and housing finance companies (repealed)

PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY

Instruction No. 2016-I-09 regarding the coverage ratio of land credit companies and housing finance companies

The Prudential Control and Resolution Authority,

Having regard to the Monetary and Financial Code, in particular Articles L. 513-2 to L. 513-33 as well as L. 612-24 and R. 513-1 to R. 513-21;

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

Having regard to Instruction No. 2007-01 of January 18, 2007, regarding the electronic signature of certain documents transmitted electronically to the Prudential Control and Resolution Authority;

Having regard to Instruction No. 2009-01 of June 19, 2009, as amended by Instruction No. 2009-07, regarding the implementation of the unified financial reporting system;

Having regard to Instruction No. 2011-I-06, as amended by Instruction No. 2014-I-16, regarding the coverage ratio of land credit companies and housing finance companies;

Having regard to the opinion of the Consultative Commission on Prudential Affairs dated February 25, 2016;

Decides:

Article 1 The institutions subject to this instruction are credit institutions authorized as land credit companies, within the meaning of Article L. 513-2 of the Monetary and Financial Code, or housing finance companies, within the meaning of Article L. 513-28 of the same Code.

Article 2 Land credit companies and housing finance companies shall submit to the Prudential Control and Resolution Authority the statement "Elements for the calculation of the coverage ratio and control of limits" (Annex 1) containing information on:

• the calculation of the coverage ratio mentioned in Article L. 513-12 of the Monetary and Financial Code;

• compliance with limits relating to the composition of assets;

• the calculation of amounts eligible for refinancing through privileged resources.

This statement is prepared four times a year based on figures finalized on March 31, June 30, September 30, and December 31. It is transmitted to the General Secretariat of the Prudential Control and Resolution Authority, electronically signed by a responsible executive, within three months following the finalization date, in XML-XBRL format according to the technical specifications necessary for its processing by the Prudential Control and Resolution Authority.

The certification of the specific auditor, in application of Article L. 513-23 of the Monetary and Financial Code, is transmitted by mail or electronically.

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

Article 4 By way of exception to Article 2 of this instruction, institutions shall declare the information cited in the same article on authenticated paper support bearing an authorized signature, and in this case, complete this paper submission by the electronic transmission of data in the form of ".xls" files until the deadline of December 31, 2016, inclusive.

Article 5 Instruction No. 2011-I-06, as amended, regarding the coverage ratio of land credit companies and housing finance companies is repealed.

Article 6 This instruction enters into force immediately upon its publication.

Paris, March 11, 2016

The President of the Prudential Control Authority and Resolution, [François VILLEROY de GALHAU]