Instruction No. 2024-I-06 of April 19, 2024, on new prudential reporting by credit managers, credit institutions, branches of third-country credit institutions, financing companies, and credit purchasers

PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY

Instruction No. 2024-I-06 on the new prudential reporting by credit managers, credit institutions, branches of credit institutions from third countries, financing companies and credit purchasers

The Prudential Control and Resolution Authority (ACPR),

Having regard to the Monetary and Financial Code, in particular Articles L. 54-11-6, L. 54-11-26,
L. 54-11-31, L. 612-2, L. 612-24, R. 54-11-1, R. 54-11-5 to R. 54-11-7;

Having regard to Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions;

Having regard to Ordinance No. 2005-1516 of 8 December 2005 on electronic exchanges between users and administrative authorities and between administrative authorities;

Having regard to the Accounting Standards Authority Regulation No. 2014-07 of 26 November 2014 relating to the accounts of companies in the banking sector;

Having regard to the Order of 3 November 2014 relating to prudential supervision on a consolidated basis; Having regard to Directive (EU) 2021/2167 of the European Parliament and of the Council of 24 November 2021 on credit managers and credit purchasers, and amending Directives 2008/48/EC and 2014/17/EU;

Having regard to the opinion of the Prudential Affairs Consultative Committee of 27 March 2024, DECIDES

Article 1:
This instruction applies to the following establishments and companies, hereinafter referred to as "subject establishments":

1° Credit institutions referred to in I of Article L. 511-1 of the Monetary and Financial Code; 2° Branches of credit institutions from third countries defined in Article
L. 511-10 of the Monetary and Financial Code;
3° Financing companies referred to in II of Article L. 511-1 of the Monetary and Financial Code;

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4° Credit managers defined in point 4 of Article L. 54-11-1 of the Monetary and Financial Code; 5° Credit purchasers defined in point 3 of Article L. 54-11-1 of the Monetary and Financial Code; 6° Representatives in France of credit purchasers, where the latter are not domiciled in the Union or do not have their statutory seat or, if they have no statutory seat under their national law, their central administration in the Union, designated pursuant to Article L. 54-11-30 of the Monetary and Financial Code.

Article 2:

Credit institutions, branches of credit institutions from third countries, financing companies and credit purchasers established in France, or, where they are not domiciled in the Union or do not have their statutory seat or, if they have no statutory seat under their national law, their central administration in the Union, their representative in France designated pursuant to Article
L. 54-11-30 of the Monetary and Financial Code, concerning the assignment of rights of a
creditor under a non-performing credit contract or the non-performing credit contract itself, shall communicate to the ACPR on a semi-annual basis a specific statement called CESSION. The ACPR may require credit institutions, branches of credit institutions from third countries, financing companies and credit purchasers (or their representatives in France) mentioned above to communicate the CESSION statement to it on a quarterly basis whenever it deems necessary, in particular to monitor transfers that may take place in crisis periods. The CESSION statement is set out in Annex I to this instruction. Credit managers shall submit to the ACPR on a semi-annual basis the accounting statement SITUATION and the specific statement CANTONNEMENT GC when they are authorized to receive funds. The CANTONNEMENT GC statement is set out in Annex II and the SITUATION statement in Annex III to this instruction.

These statements are prepared in accordance with national accounting standards.

Article 3:
Establishments shall submit the CESSION statement using an Excel spreadsheet format (xls) transmitted by email to remises-cession-credit@acpr.banque-france.fr for collections ending on 30 June 2024 and 31 December 2024. Establishments shall submit the SITUATION and CANTONNEMENT GC statements using an Excel spreadsheet format (xls) transmitted by email to remises-cession-credit@acpr.banque-france.fr for collections ending on 30 June 2024. They will subsequently be included in the taxonomy and RUBA reporting as regards credit institutions, branches of credit institutions from third countries and financing companies assigning their credits and credit managers.

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Credit purchasers (or their representatives in France) will maintain their submission using an Excel spreadsheet format (xls). The submission deadline applicable for collections of the CESSION statement ending on 30 June 2024 and 31 December 2024 as well as for SITUATION and CANTONNEMENT GC collections ending on 30 June 2024 is 55 calendar days. The submission deadline applicable from collections of the CESSION statement ending on 30 June 2025 and SITUATION and CANTONNEMENT GC statements ending on 31 December 2024 will be 25 calendar days. In the event that the ACPR requires credit institutions, branches of credit institutions from third countries, financing companies and credit purchasers (or their representatives in France) mentioned above to communicate the CESSION statement to it on a quarterly basis, the applicable quarterly submission deadline is 25 calendar days.

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, 19 April 2024
The Designated President,
Denis BEAU