French Public Health Code
In forceI.-Public health institutions and their groupings may only take out loans with credit institutions within the following limits and subject to the following conditions:
1° The loan must be denominated in euros ;
2° The interest rate may be fixed or variable;
3° The indexation formula for variable rates must meet the criteria of simplicity or predictability of the financial expenses of public health institutions and their groupings.
II - A financial contract backed by a loan from a credit institution may not have the effect of derogating from I.
IIa.The maximum rate applicable to new loans granted as part of the securitisation of structured loans held by public health institutions is equal to the yield on the assimilable Treasury bond with the maturity closest to the initial average life of the structured loan being renegotiated, recorded on the date on which it was initially granted, plus one hundred and fifty basis points.
The categories of structured loans concerned are determined by the ministers responsible for health, the economy and the budget.
III - A decree sets out the conditions for application of this article, in particular :
1° The indices and index spreads authorised for the variable interest rate indexation clauses mentioned in 2° of I, as well as the maximum rate of change in the interest rate ;
2° The criteria set out in 3° of I;
3° The conditions for application of II.
