Instruction No. 2024-I-07 of May 31, 2024, on prudential requirements for financing companies repealing and replacing Instruction No. 2014-I-10

Instruction No. 2024-I-07 on prudential requirements applicable to financing companies repealing and replacing Instruction No. 2014-I-10 of August 22, 2014, with a view to extending to financing companies the reporting requirements regarding interest rate risk supervision in the banking book

The Prudential Control and Resolution Authority, Having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of June 26, 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012; Having regard to Commission Implementing Regulation (EU) 2024/855 of March 15, 2024 amending the implementing technical standards provided for by Implementing Regulation (EU) 2021/451 as regards the rules on prudential information to be communicated on interest rate risk in the banking book; Having regard to Regulation (EC) No 1606/2002 of the European Parliament and of the Council of July 19, 2002 on the application of international accounting standards; Having regard to the Monetary and Financial Code, in particular Articles L. 612-24, L. 511-41, L. 611-1 and L. 612-2; Having regard to Ordinance No. 2005-1516 of December 8, 2005 on electronic exchanges between users and administrative authorities and between administrative authorities; Having regard to the Order of December 23, 2013 on the prudential regime for financing companies, in particular Article 10; Having regard to the Regulation of the Banking and Financial Regulation Committee No. 2000-03 of September 6, 2000, as amended, on prudential supervision on a consolidated basis; Having regard to the Regulation of the Accounting Regulation Committee No. 99-07 of November 27, 1999, as amended, on consolidation rules; Having regard to the Regulation of the Banking Regulation Committee No. 91-01 of January 16, 1991 on the preparation and publication of individual accounts of credit institutions; Having regard to Instruction No. 2008-02 amending Instruction No. 2006-04 on the transmission to the Banking Commission by credit institutions, investment firms and financial companies of consolidated financial statements prepared from IAS/IFRS international accounting standards; Having regard to Instruction No. 2009-01 of June 19, 2009, as amended by Instruction No. 2009-07 of November 30, 2009 on the establishment of the unified financial reporting system; Having regard to Instruction No. 2009-05 of June 29, 2009 on the standard approach to liquidity risk; Having regard to Decision No. 2013-C-110 of the Prudential Control and Resolution Authority of November 12, 2013 taken for the implementation of Regulation (EU) No 575/2013 of the European Parliament and of the Council of June 26, 2013 mentioned above; Having regard to the opinion of the Prudential Affairs Consultative Commission of March 27, 2024, DECIDES

Article 1:
The following are hereinafter referred to as "subject institutions":

1. Financing companies, within the meaning of Section II of Article L. 511-1 of the Monetary and Financial Code;
2. Parent companies of financing companies, within the meaning of Article L. 517-1 of the same Code.

Article 2:
The subject institutions mentioned in Article 1 of this instruction shall transmit to the Prudential Control and Resolution Authority:
a) The FINREP tables defined in Annexes III and V of Commission Implementing Regulation (EU) 2021/451 of December 17, 2020, in the formats and frequencies defined in Article 11 of that same standard; b) The COREP tables defined in Annexes I and II of the aforementioned Implementing Regulation (EU) No 2021/451, in the formats and frequencies defined in Articles 9 and 10 of that same standard:
o Eligible mutual guarantee funds as Tier 1 common equity instruments mentioned in Article 3 of the Order of December 23, 2013 on the prudential regime for financing companies are reported on line 529 of statement CA1. o Equity elements mentioned in Articles 4 and 5 of the Order of December 23, 2013 on the prudential regime for financing companies are reported on line 978 of statement CA1. c) The CR IP Losses table defined in Annexes VI and VII of the aforementioned Implementing Regulation (EU) No 2021/451, in the formats and frequencies defined in Article 13 of that same standard. d) The Large Exposures tables defined in Annexes VIII and IX of the aforementioned Implementing Regulation (EU) No 2021/451, in the formats and frequencies defined in Article 14(3) of that same Implementing Regulation concerning exposures with a risk-weighted exposure value greater than or equal to EUR 300 million but less than 10% of the institution's eligible own funds, and in Article 14 of that same Implementing Regulation concerning large exposures. e) Tables relating to charges on assets defined in Annexes XVI and XVII of the aforementioned Implementing Regulation (EU) No 2021/451, in the formats and frequencies defined in Article 19 of that same Implementing Regulation. f) Tables relating to information on interest rate risk in the banking book, defined in Annexes XXVIII and XXIX of the aforementioned Implementing Regulation (EU) No 2021/451, in the formats and frequencies defined in Article 20-bis of that same Implementing Regulation. The closing dates for the tables mentioned in paragraphs a, b, c, d, e and f are indicated in Article 2 of the aforementioned Implementing Regulation (EU) No 2021/451 as regards the prudential information to be provided by institutions. The deadlines for submitting the tables mentioned in paragraphs a, b, c, d, e and f are set at 45 business days. The entry and exit criteria applicable to the submission thresholds for the tables mentioned in paragraphs a, b, c, d, e and f are indicated in Article 4 of the aforementioned Implementing Regulation (EU) No 2021/451. The IT solutions for data transmission between institutions and competent authorities defined in Article 21 of the aforementioned Implementing Regulation (EU) No 2021/451 as regards the prudential information to be provided by institutions apply to the tables mentioned in paragraphs a, b, c, d and e and f.

Article 3:
The statements are transmitted in XML-XBRL format according to the technical specifications necessary for their processing by the Prudential Control and Resolution Authority. They are electronically signed. This instruction enters into force upon its publication in the official register of the Prudential Control and Resolution Authority. The provisions specified in Article 2, paragraph f, take effect as of the collections closed on December 31, 2024.

Article 4:
This instruction repeals and replaces Instruction No. 2014-I-10 of August 22, 2014 on prudential requirements applicable to financing companies, as amended by Instructions No. 2015-I-23 of October 12, 2015 and No. 2021-I-22 of December 6, 2021. References to Instruction No. 2014-I-10 shall be understood as references to this instruction. This instruction enters into force the day following its publication.

Article 5:
This instruction is published in the official register of the Prudential Control and Resolution Authority.
Paris, May 31, 2024
The Designated President,
Denis BEAU