2166L.513-4 CMF

L.513-4 CMF

  • Posted 9 September, 2022 | Category : .

    I – Exposures on public sector entities mentioned in article L.515-13 are assets, such as loans or off-balance sheet commitments on the entities mentioned below, or benefiting from their full guarantee:

    1. central administrative entities, central banks, public sector entities, local governments and groups thereof of a State that is a member of the European Community;

    2. central administrative entities or central banks of States that are not members of the European Community or parties to the agreement on the European economic area, and that benefit from a step 1 credit rating by an external rating agency recognized by the Autorité de contrôle prudential pursuant to article L.511-44;

    3. International organisations referred to in Article 118 of Regulation (EU) No 575/2013 of 26 June 2013, multilateral development banks referred to in Article 117(2) of that Regulation and other international organizations and multilateral development banks that benefit from a step 1 credit rating by an external rating agency recognized by the Autorité de contrôle prudential pursuant to article L.511-44;

    4. public sector entities and local governments and groups thereof in States that are not members of the European Community or parties to the agreement on the European economic area, in order to determine capital adequacy, exposures to these entities are given the same risk weighting as commitments to central administrations, central banks and credit institutions, or totally guaranteed by the above-mentioned entities and that benefit from a step 1 credit rating by an external rating agency recognized by the Autorité de contrôle prudential pursuant to article L.511-44;

    5. Central governments and central banks of non-EU countries, public sector entities and local governments or groups mentioned in paragraphs 2,3 and 4 above that benefit from a step 2 credit rating by an external rating agency recognized by the Autorité de contrôle prudentiel pursuant to article L.511-44.

    II – Exposures to public sector entities include, in particular:

    1. debt securities issued or totally guaranteed by one of the public sector entities mentioned in paragraphs 1 to 5 of part I;

    2. receivables, including those resulting from a contract with successive fulfillments, on the public sector entities mentioned in paragraphs 1 to 5 of part I or totally guaranteed by one or several of these public sector entities;

    3. receivables generated by finance lease contracts or equivalent contracts to which French public sector entities mentioned in paragraphs 1 to 5 of part I are parties as lessees, or receivables generated by finance lease contracts or equivalent contracts totally guaranteed by one or more of those public sector entities. SCFs that acquire receivables resulting from a finance lease contract may also acquire all or part of the receivables that will result from the transfer of the leased asset.

    III – A decree of the Conseil d’Etat defines the modalities and, if required, the limits for booking the exposures referred to in part I and subject to a credit rating by an external rating agency recognized by the Autorité de contrôle prudential pursuant to article L.511-44.

     

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