Regulatory Decision 2025-22 of July 11, 2025

BANQUE DE FRANCE
GOVERNOR'S DECISION
D-2025-22 of July 11, 2025
Ethics and Deontology Code
List of Functions
Sections: 0.2.2., 7.3.7.

THE GOVERNOR OF THE BANK OF FRANCE

Having regard to General Council Order No. A-2023-01 of February 3, 2023, on the Ethics and Deontology Code for Bank of France staff; Having regard to Article 9 of the Ethics and Deontology Code of June 1, 2023; Having regard to the deontology rules applicable to staff of the Prudential Supervision and Resolution Authority services of July 11, 2023;

DECIDES

Article 1: The functions referred to in Article 9 of the Ethics and Deontology Code as being likely to give agents occupying them access to non-public information on companies, rates, currencies, or gold are listed in the attached annexes.

Article 2: This decision enters into force on the date of its publication in the official publication register of the Bank of France.

Article 3: Regulatory Decision No. 2021-12 of December 16, 2021, is repealed on this date.

The Governor,
François VILLEROY de GALHAU

PUBLIC DOCUMENT

Annex 1 to D-2025-22
Bank Government
BANK GOVERNMENT
List of Sensitive Functions

LIST A

• Governor and Deputy Governors GOUV-A
• Head of the Governor's Office GOUV-A
• Advisors to the Governor / Mission Officers GOUV-A
• Deontologist GOUV-A
• Assistant(s) GOUV-A

LIST B
None

LIST B+
None

LIST C
None

Annex 2 to D-2025-22
Various Entities
VARIOUS ENTITIES
List of Sensitive Functions

LIST A

• General Councilor representing staff CGRP-A

LIST B
None

LIST B+
LIABILITY COMMITTEE
(Monitoring: General Secretariat/DEFI/SGF)

• Full and alternate members DIV-B+

RETIREMENT SCHEME STRATEGIC COMMITTEE (Monitoring: General Secretariat/DEFI/SGF)

• Full and alternate members DIV-B+

AUDIT COMMITTEE
(Monitoring: General Control)

• Full and alternate members DIV-B+

RISK COMMITTEE
(Monitoring: General Directorate of Financial Stability and Operations)

• Full and alternate members DIV-B+

LIST C
None

Annex 3 to D-2025-22
General Control
GENERAL CONTROL
List of Sensitive Functions

LIST A

• General Director and Deputy(s) CG-A

LIST B
OFFICE

• Head of Office and Deputy CG-B
• Risk Manager CG-B

RISK PREVENTION DIRECTORATE

• Director and Deputy(s) CG-B

LIST B+
NETWORK AUDIT

• Director and Deputy(s) CG-B+
• Inspectors and Auditors CG-B+

CENTRAL SERVICES AUDIT

• Director and Deputy(s) CG-B+
• Inspectors and Auditors CG-B+

DELEGATION FOR ON-SITE CONTROL OF CREDIT INSTITUTIONS AND INVESTMENT FIRMS

• All agents CG-B+

AGENTS WITH ACCESS TO THE DATALAKE OR PRUDENTIAL DATA OF ENTITIES SUBJECT TO ACPR CONTROL CG-B+

LIST C
None

Annex 4 to D-2025-22
General Directorate of Payment Means GENERAL DIRECTORATE OF PAYMENT MEANS List of Sensitive Functions

LIST A

• General Director and Deputy(s) DGMP-A

LIST B+
DIRECTORATE OF STUDIES AND PAYMENT SUPERVISION

• Director and Deputy(s) DGMP-B+
  Payment Means Surveillance Service (SMPS)
• All agents DGMP-B+

LISTS B AND C
None

Annex 5 to D-2025-22
General Directorate of Human Resources GENERAL DIRECTORATE OF HUMAN RESOURCES List of Sensitive Functions

LIST A

• General Director and Deputy(s) DGRH-A

LISTS B, B+, AND C
None

Annex 6 to D-2025-22
General Directorate of Services to the Economy and the Network GENERAL DIRECTORATE OF SERVICES TO THE ECONOMY AND THE NETWORK List of Sensitive Functions

LIST A

• General Director and Deputy(s) DGSER-A

LIST B

• Mission Officer DGSER-B
• Assistant(s) to the General Director DGSER-B

OFFICE

• Head of Office and Deputy(s) DGSER-B
• National Temporary Agency Brigade for Tertiary Sector of the Network DGSER-B
  Temporary agents in the network whose missions are listed as sensitive (cf. Network Section)

RISK MANAGEMENT SERVICE

• Head of Service and Deputy(s) DGSER-B

ENTERPRISE DIRECTORATE

• Director and Deputy(s) DGSER-B
• Mission Officers: cross-cutting projects, Corporate Support Correspondent (Start-ups, SMEs, ACSEL) DGSER-B

Enterprise Analysis Methodology Service (SMAE)

• All agents DGSER-B

Central Risk Service (SCR)

• All agents DGSER-B

Organization and Support for Economy Service Offerings (OSMOSE)

• Head of Service and Deputy(s) DGSER-B
• Division Heads DGSER-B

Annex 6 to D-2025-22
General Directorate of Services to the Economy and the Network Enterprise Observatory

• All agents DGSER-B

I-CLIMAT PROGRAM DIRECTORATE

• Director and Deputy(s) DGSER-B
• Climate Coordinator DGSER-B

Corporate Climate Service (SCE)

• All agents DGSER-B
• Seconded from network – Climate Specialist DGSER-B

Climate User Steering and Support Service

• All agents DGSER-B
• Seconded from network – Climate Reference Analyst DGSER-B
• Seconded from network – Climate Specialist DGSER-B
• Secondment of DGSI agents DGSER-B

Information System Generation

• All agents DGSER-B
• Secondment of DGSI agents DGSER-B

NETWORK DIRECTORATE

• Director and Deputy(s) DGSER-B

CONSUMER DIRECTORATE

• Director and Deputy(s) DGSER-B

IT FOR THE NETWORK DIRECTORATE

• Director and Deputy(s) DGSER-B
• Enterprise Information System Administration Service (SASIE)
  All agents DGSER-B

FINANCIAL EDUCATION DIRECTORATE (DEF)

• Director and Deputy(s) DGSER-B

NATIONAL CREDIT MEDIATION

• All agents DGSER-B

LISTS B+ AND C
None

Annex 7 to D-2025-22
General Directorate of Services to the Economy and the Network - Network BRANCH NETWORK AND AFFILIATED UNITS List of Sensitive Functions

LIST A

• Regional Director RES-A

LIST B

• Deputy to Regional Director RES-1
• Departmental Director and Deputy RES-1
• Economic Branch Delegated Director and Deputy RES-1
• Executive Assistant(s) to Regional Director RES-1
• Head of Regional Affairs Service and Deputy(s) RES-2
• Head of Enterprise Service, Deputy(s), and Managers (or Supervisors) exercising their main activity in these services RES-2
• Territorial Delegate RES-2
• SRCMR Manager and Deputy(s) RES-2
• Group Division Analysts RES-2
• Analysts in charge of files for listed companies on regulated markets even if the headquarters is outside the area of action, including climate RES-2
• Climate Reference Analysts RES-2
• Climate Specialists RES-2
• Agents in charge of conjuncture tests concerning listed companies on regulated markets even if the headquarters is outside the area of action, including on subsidiaries of listed groups RES-2

LIST B+

• Researchers conducting studies for the SGACPR or missions for the SGACPR and/or the AMF RES-3

LIST C
None

Annex 8 to D-2025-22
General Directorate of Financial Stability and Operations GENERAL DIRECTORATE OF FINANCIAL STABILITY AND OPERATIONS List of Sensitive Functions

LIST A

• General Director and Deputy(s) DGSO-A

LIST B
OFFICE

• Head of Office and Deputy(s) DGSO-B

DIRECTORATE OF RISKS AND OPERATIONS COMPLIANCE (DRCO)

• Mission Officer(s) to the Director DGSO-B
  Internal Control Unit
• All agents DGSO-B
  Operational Risk Management Service (SRO)
• All agents except Head of Service and Deputy(s) DGSO-B
  Financial Security and Compliance Advice Service (SFCC)
• All agents except Head of Service and Deputy(s) DGSO-B

MARKETS DIRECTORATE (DMA)
Legal Division

• All agents DGSO-B
  Internal Control Unit
• All agents DGSO-B
  Trading Room IT Unit (CISM)
• All agents DGSO-B

MONETARY POLICY IMPLEMENTATION DIRECTORATE (DMPM) Internal Control Unit

• All agents DGSO-B
  Negotiable Credit Instruments Service (STCN)

Annex 8 to D-2025-22
General Directorate of Financial Stability and Operations

• All agents DGSO-B

BANKING SERVICES DIRECTORATE (DSB)

• Director and Deputy(s) DGSO-B
• Mission Officer(s) to the Director DGSO-B
  Account Keeping and Eurozone and Abroad Payment Operations Service (TOPAZE)
• Head of Service and Deputy(s) DGSO-B
  Customer Relations Service (SRC)
• Head of Service and Deputy(s) DGSO-B

LIST B+
GENERAL DIRECTORATE

• Mission Officer(s) to the General Director DGSO-B+

ANALYTICAL MODELING CENTER

• All agents DGSO-B+

DIRECTORATE OF RISKS AND OPERATIONS COMPLIANCE (DRCO)

• Director and Deputy(s) DGSO-B+
  Market and Credit Risk Management Service (SRMC)
• All agents DGSO-B+
  Operational Risk Management Service (SRO)
• Head of Service and Deputy(s) DGSO-B+
  Financial Security and Compliance Advice Service (SFCC)
• Head of Service and Deputy(s) DGSO-B+
  Eurosystem Risk Analysis and Valuation Service (SARV)
• All agents DGSO-B+

MARKETS DIRECTORATE (DMA)
Markets Back-Office Service (SBOM)

• All agents DGSO-B+
  Securities Management Service (SGT)
• All agents DGSO-B+

MONETARY POLICY IMPLEMENTATION DIRECTORATE (DMPM)

• Director and Deputy(s) DGSO-B+
• Mission Officer(s) to the Director DGSO-B+

Annex 8 to D-2025-22
General Directorate of Financial Stability and Operations Monetary Policy Implementation Service (MOPM)

• All agents DGSO-B+
  Refinancing and Collateral Adjudications Service (ARC)
• All agents DGSO-B+
  Markets Monitoring and Animation Service (SAM)
• Market Analysis Division – all agents DGSO-B+

DIRECTORATE OF INNOVATION AND FINANCIAL MARKET INFRASTRUCTURES (DIIF)

• Director and Deputy(s) DGSO-B+
• Mission Officer(s) to the Director DGSO-B+
  Internal Control and Compliance Unit (CCIC)
• All agents DGSO-B+
  Payment Systems and Market Infrastructures Surveillance Service (SEPI)
• All agents DGSO-B+
  Interbank Settlements Service (SERI)
• Head of Service and Deputy(s) DGSO-B+
• ST2BF: All agents DGSO-B+
  New Technologies and Innovation for Market Infrastructures Service (STIM)
• All agents DGSO-B+
  Resilience and Market Infrastructure Studies Service (SRIM)
• All agents DGSO-B+

FINANCIAL STABILITY DIRECTORATE (DSF)

• Director and Deputy(s) DGSO-B+
• Mission Officer(s) to the Director DGSO-B+
• Advisor(s) to the Director DGSO-B+
  Data Division
• All agents DGSO-B+
  Financial Regulation Studies and Coordination Service (COREFI)
• All agents DGSO-B+
  Climate and Nature Center (CCN)
• All agents DGSO-B+
  Financial Risks and Vulnerabilities Assessment Service (SRV)
• All agents DGSO-B+
  Macroprudential Policy Service (SMP)
• All agents DGSO-B+

AGENTS WITH ACCESS TO THE DATALAKE OR PRUDENTIAL DATA OF ENTITIES SUBJECT TO ACPR CONTROL DGSO-B+

Annex 8 to D-2025-22
General Directorate of Financial Stability and Operations LIST C MARKETS DIRECTORATE (DMA)

• Director and Deputy(s) DGSO-C
• Mission Officer(s) to the Director DGSO-C
• Manager of the Singapore Trading Room DGSO-C
  Asset Management Service (SEGA)
• All agents DGSO-C
  International Institutional Clientèle Service (SCII)
• All agents DGSO-C

MONETARY POLICY IMPLEMENTATION DIRECTORATE (DMPM) Markets Monitoring and Animation Service (SAM)

• Head of Service and Deputy(s) DGSO-C
• Market Strategy Division – all agents DGSO-C

Annex 9 to D-2025-22
General Directorate of Statistics, Studies, and International Affairs GENERAL DIRECTORATE OF STATISTICS, STUDIES, AND INTERNATIONAL AFFAIRS List of Sensitive Functions

LIST A

• General Director and Deputy(s) DGSEI-A

LIST B

• Advisor to the General Director DGSEI-B
• Research Director DGSEI-B

MONETARY AND FINANCIAL STATISTICS DIRECTORATE (DSMF)

• Mission Officer(s) DGSEI-B
• Advisor DGSEI-B
  European Statistics Service (SSE)
• Head of Service and Deputy(s) DGSEI-B
• Division Heads and Section Heads DGSEI-B
  National Financing Analysis Service (SAFIN)
• Head of Service and Deputy(s) DGSEI-B
• Division Heads and Section Heads DGSEI-B
  Financial Savings and Securitization Service (SEFT)
• Division Heads and Section Heads - UCITS and Securitization DGSEI-B
  Financial Operations Studies and Statistics Service (SESOF)
• Head of Service and Deputy(s) DGSEI-B
• Division Heads and Section Heads DGSEI-B

CONJUNCTURE SURVEYS AND MICROECONOMIC AND STRUCTURAL ANALYSES DIRECTORATE (DECAMS)

• Director and Deputy(s) DGSEI-B
• Advisor DGSEI-B
  Economic Conjecture Surveys Service (SEEC)
• All agents DGSEI-B
  Structural Policies Studies Service (SEPS)
• All agents DGSEI-B
  Microeconomic Analyses Service (SAMIC)
• All agents DGSEI-B

Annex 9 to D-2025-22
General Directorate of Statistics, Studies, and International Affairs BALANCE OF PAYMENTS DIRECTORATE (DBDP) General Direct Declarants Service (SDDG)

• All agents DGSEI-B
  Corporate Cross-Border Investments and Exchanges Service (SIETE)
• All agents DGSEI-B

MONETARY AND FINANCIAL STUDIES DIRECTORATE (DEMFI)

• Director and Deputy(s) DGSEI-B
• Heads of Service, Deputy(s) DGSEI-B
• Economists and Researchers DGSEI-B

EUROPEAN AND MULTILATERAL POLICIES DIRECTORATE (DPEM)

• Advisors DGSEI-B
• SERMI - Heads of Service, Deputy(s) DGSEI-B

INTERNATIONAL ECONOMY AND COOPERATION DIRECTORATE (DECI)

• Directors and Deputy(s) DGSEI-B
• Advisors DGSEI-B
• Heads of Service, Deputy(s) DGSEI-B
• Economists and Researchers DGSEI-B

CONJUNCTURE AND MACROECONOMIC FORECASTS DIRECTORATE (DCPM)

• Directors and Deputy(s) DGSEI-B
• Advisors DGSEI-B
• Head of Service and Deputy(s) DGSEI-B

LIST B+
MONETARY AND FINANCIAL STATISTICS DIRECTORATE (DSMF)

• Director and Deputy(s) DGSEI-B+
  Financial Savings and Securitization Service (SEFT)
• Head of Service and Deputy(s) DGSEI-B+
• Division Heads and Section Heads - Insurance DGSEI-B+
• Insurance Division – all agents DGSEI-B+

BALANCE OF PAYMENTS DIRECTORATE (DBDP)

• Director and Deputy(s) DGSEI-B+
• Advisors DGSEI-B+
  Securities Service (SDT)

Annex 9 to D-2025-22
General Directorate of Statistics, Studies, and International Affairs

• All agents DGSEI-B+
  Financial Intermediaries Service (SIF)
• All agents DGSEI-B+

EUROPEAN AND MULTILATERAL POLICIES DIRECTORATE (DPEM)

• Director and Deputy(s) DGSEI-B+
• SRE - All agents DGSEI-B+

BUSINESS IT AND RESOURCES DIRECTORATE (DIM)

• Director and Deputy(s) DGSEI-B+
• SACRE:
  • Head of Service and Deputy(s) DGSEI-B+
  • International Meetings Preparation Division - All agents DGSEI-B+

AGENTS WITH ACCESS TO DATA PLATFORM OR PRUDENTIAL DATA OF ENTITIES SUBJECT TO ACPR CONTROL DGSEI-B+

LIST C
None

Annex 10 to D-2025-22
General Secretariat
GENERAL SECRETARIAT
List of Sensitive Functions

LIST A

• General Secretary and Deputy(s) SG-A
  COMMUNICATION DIRECTORATE
• Communication Director and Deputy(s) SG-A
  External Communication Service
• Head of Service SG-A

LIST B
STRATEGY DIRECTORATE

• Director and Deputy(s) SG-B
  COMMUNICATION DIRECTORATE
  External Communication Service
• Deputy(s) SG-B
• Press Division Manager SG-B

FINANCIAL DIRECTORATE

• Director and Deputy(s) SG-B
  Financial Management Service (SGF)
• All agents SG-B

LEGAL SERVICES DIRECTORATE

• Director and Deputy(s) SG-B
• Mission Officer(s) SG-B
  Institutional and Social Law Service (DIS)
• Head of Service and Deputy(s) SG-B
  Financial and European Law Service (DFE)
• Head of Service and Deputy(s) SG-B
  Banking and General Interest Mission Law Service (DBMIG)
• Head of Service and Deputy(s) SG-B
  General Business Law Service (DAGEN)
• Head of Service and Deputy(s) SG-B

LISTS B+ AND C
None

Annex 11 to D-2025-22
General Secretariat of the Prudential Supervision and Resolution Authority GENERAL SECRETARIAT OF THE PRUDENTIAL SUPERVISION AND RESOLUTION AUTHORITY List of Sensitive Functions

LIST A

• General Secretary and Deputy(s) SGACPR-A

LIST B
None

LIST B+

• All agents (except List A agents) SGACPR-B+

LIST C
None

Annex 12 to D-2025-22
General Directorate of Information Systems GENERAL DIRECTORATE OF INFORMATION SYSTEMS List of Sensitive Functions

LIST A

• General Director and Deputy(s) DGSI-A

LIST B
OFFICE

• Head of Service and Deputies DGSI-B
• SAM Division - All agents DGSI-B
• VMO Division - All agents DGSI-B

RISK AND COMPLIANCE MANAGEMENT

• Head of Service and Deputies DGSI-B

STATISTICS, PRUDENTIAL, AND OPERATIONS DIRECTORATE (DISPO) Monetary Policy Service for Market Operations and Payment Systems (POP)

• All agents DGSI-B
  Operations Exchange Payments Service (SISPEO)
• All agents DGSI-B

PAYMENT AND SUPPORT BUSINESS DIVISION DIRECTORATE (DIEM)

• Director and Deputy(s) DGSI-B

IT FOR THE NETWORK DIRECTORATE (DIRES)

• Director DGSI-B
  Network-Related Projects and Applications Service (SPARE)
• All agents DGSI-B

DATA AND ANALYTICAL SERVICES DIRECTORATE (DDSA) ANALYTIC Service

• All agents DGSI-B

Annex 12 to D-2025-22
General Directorate of Information Systems DATA OFFICE Service

• All agents DGSI-B

COMMON SERVICES DIRECTORATE (DISCO)

• Director and Deputy(s) DGSI-B

IT AND TELECOMMUNICATIONS DIRECTORATE (DIT)

• Director and Deputy(s) DGSI-B

LIST B+
STATISTICS, PRUDENTIAL, AND OPERATIONS DIRECTORATE (DISPO)

• Director and Deputy(s) DGSI-B+
  Development Service for Studies, Statistics, and Prudential Supervision (SDESS)
• All agents DGSI-B+

DATA AND ANALYTICAL SERVICES DIRECTORATE (DDSA)

• Director, Deputy(s), and Mission Officer DGSI-B+
  AI Unit
• All agents DGSI-B+
  SONATA Service
• All agents DGSI-B+

AGENTS WITH ACCESS TO THE DATALAKE OR PRUDENTIAL DATA OF ENTITIES SUBJECT TO ACPR CONTROL DGSI-B+

LIST C
None