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France: lending & credit regulation

Regulated

France lending: ACPR prudential oversight under Code monétaire et financier; no specific consumer credit license

Lead regulator:
Autorité de Contrôle Prudentiel et de Résolution (ACPR)
Key law:
Code monétaire et financier (CMF)
Last updated:
2026-07-12

Consumer credit and lending activities in France are primarily regulated under the Code monétaire et financier (CMF), which implements EU directives such as the Consumer Credit Directive. The Autorité de Contrôle Prudentiel et de Résolution (ACPR) serves as the primary prudential supervisor for credit institutions, financing companies, and credit managers.

The regulatory framework focuses heavily on prudential reporting, risk monitoring, and capital adequacy rather than a standalone consumer credit license. The ACPR mandates detailed statistical reporting on mortgage risks, profitability, and large exposures through specific instructions (e.g., Instruction No. 2024-I-06, Instruction No. 2022-I-02).

Non-bank entities, such as insurance companies, require prior approval from the ACPR to grant unsecured loans under the Insurance Code. The regime is characterized by strict data submission requirements and alignment with European Banking Authority (EBA) guidelines on credit risk and non-performing exposures.

Who regulates

  • Autorité de Contrôle Prudentiel et de Résolution (ACPR)

    Primary prudential supervisor for credit institutions, financing companies, and credit managers; oversees risk monitoring and reporting.

    [1][2][3]

  • Autorité des Marchés Financiers (AMF)

    Supervises financial markets and specific investment activities; noted in context of credit risk in management company investments.

    [4]

Core laws & rules

  • Code monétaire et financier (CMF) (N/A (Ongoing))

    The core legislative framework governing banking and financial activities, including consumer credit, implementing EU directives.

  • Insurance Code (N/A (Ongoing))

    Governs insurance companies' ability to grant unsecured loans, requiring ACPR approval.

    [5]

Licensing & registration

  • Credit Institution / Financing Company

    Entities engaging in lending must be authorized credit institutions or financing companies subject to ACPR supervision and prudential reporting.

    [1]

  • Insurance Company Unsecured Lending

    Insurance companies require prior ACPR approval to grant unsecured loans.

    [5]

Restrictions & warnings

  • Mandatory monthly reporting of housing loan risks and profitability via specific tables (e.g., CREDITHAB, RENT_IMMO) for institutions exceeding certain thresholds.

    [3][6]

  • Strict adherence to EBA guidelines on credit risk mitigation, non-performing exposures, and expected credit losses.

    [7][8][9]

Direction of travel

  • Continued emphasis on enhanced prudential reporting and risk monitoring, as evidenced by recent updates to reporting instructions in 2024 and 2022.

    [1][2]

Sources

  1. 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 · 2024-04-19
  2. Instruction No. 2022-I-02 of 8 February 2022 on the surveillance of risks on residential mortgages in France · 2022-02-08
  3. Instruction No. 2021-I-02 of January 29, 2021, on the Supervision of Risks on Mortgage Loans in France · 2021-01-29
  4. DOC-2011-10 Registration at the OPC Level of Loss or Gain Resulting from Settlement Failure After Issuance of a Subscription Order · 2011-01-01
  5. Instruction No. 2013-I-18 of December 12, 2013, regarding approval requests for unsecured loan programs granted by insurance companies · 2013-12-12
  6. Instruction No. 2020-I-04 of April 3, 2020 on Monitoring the Profitability of Mortgages in France · 2020-04-03
  7. Implementation of EBA guidelines on credit risk mitigation techniques for institutions applying the IRB approach with their own LGD estimates (EBA/GL/2020/05) · 2020-10-14
  8. Implementation of EBA guidelines on the management of non-performing exposures and restructured exposures (EBA/GL/2018/06) · 2019-06-03
  9. Compliance with EBA Guidelines on credit risk management and expected credit losses accounting by credit institutions (EBA/GL/2017/06) · 2017-11-17

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This guide is compiled automatically from 9 primary-source documents published by France's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.