French Monetary and Financial Code
In forceThe Banque de France is managed by the Governor of the Banque de France.
The Governor chairs the General Council of the Banque de France.
He prepares and implements the decisions of the General Council.
He represents the Bank in dealings with third parties; he alone signs all agreements on behalf of the Bank.
It appoints to all posts in the Bank, subject to the provisions of Article L. 142-3. He shall adopt the measures necessary to transpose and implement the guidelines, decisions and any other legal act of the European Central Bank taken within the framework of the tasks of the European System of Central Banks.
The Governor is assisted by a first and a second Deputy Governor. The Deputy Governors shall perform the functions delegated to them by the Governor. If the Governor is absent or unable to attend, the General Council shall be chaired by one of the Deputy Governors, specially appointed for this purpose by the Governor.
The Governor and the two Deputy Governors are appointed by decree in the Council of Ministers for a term of six years, renewable once. The age limit applicable to the exercise of these functions is set at sixty-five years. When they reach this age limit, the Governor and the two Deputy Governors shall remain in office until the end of their current term.
Their term of office may be terminated before that date only if they become incapable of performing their duties or are guilty of serious misconduct, by removal from office at the reasoned request of the General Council acting by a majority of its members other than the Governor or Deputy Governors concerned.
The duties of the Governor and Deputy Governors shall be exclusive of any other public or private professional activity, whether remunerated or not, with the exception, where applicable and with the agreement of the General Council, of teaching activities or duties carried out within international organisations. They may not hold elected office. If they are civil servants, they are seconded and may not be promoted by choice.
Governors and Deputy Governors who leave office for reasons other than dismissal for serious misconduct shall continue to receive their salary for three years. During this period, they may not, except with the agreement of the General Council, engage in any professional activity, with the exception of elective public office or the office of member of the Government. In the event that the General Council has authorised the exercise of professional activities, or if they exercise elective public functions other than national, the Council determines the conditions under which all or part of their salary may continue to be paid to them.
