Because of its status as a société de crédit foncier, Caisse Française de Financement Local is subject to the oversight of several supervisory bodies.
- Autorité de contrôle prudentiel et de résolution
- Autorité des marchés financiers
- Statutory auditors
- Specific controller
Autorité de Contrôle Prudentiel et de Résolution
- ACPR conducts its control through the various documents submitted quarterly by Caisse Française de Financement Local,
- ACPR ensures compliance with banking regulations and specifically to Sociétés de Crédit Foncier,
- It is also authorized to inspect the company on site,
- SFIL group is supervised by the European Central Bank.
Autorité des marchés financiers
- The issuance program of Caisse Française de Financement Local is registered in Paris under the supervision of the Autorité des marchés financiers and is benefiting of a passporting in Luxembourg under the supervision of the Commission de surveillance du secteur financier.
- Terms of control: See article L.621-8-1 of the Monetary and Financial Code.
- Caisse Française de Financement Local has chosen the Autorité des marchés financiers as the competent authority for the control of the compliance with its obligations regarding regulated information.
- As a credit institution, Caisse Française de Financement Local is subject to audit by two statutory auditors, each of whom comes from an independent firm.
- Audits on financial statements are conducted biannually.
- A specific controller, who is appointed with the approval of the Autorité de contrôle prudentiel et de résolution, ensures compliance with current legislation, especially:
- the eligibility of assets, as defined in current legislation,
- a sufficient level of congruence in maturities and interest rates,
- respect of the over-collateralization ratio (more than 105%),
- its mission is permanent.
- The specific controller certifies that assets cover liabilities wheneverobligations foncières are issued. This certification makes it possible to mention the legal privilege in every issue contract.
- Terms of control: See articles L. 515-30 et L. 515-31 in the Monetary and Financial Code.
- Specific Controller’s Reports