French Monetary and Financial Code
In forceI.-Pursuant to X of Article L. 613-44, the persons referred to in Article L. 613-34 shall communicate:
1° The amounts of own funds which, where applicable, satisfy the conditions referred to in 2° of I of Article R. 613-46-2 and the amounts of eligible commitments, as well as the expression of these amounts as a percentage in accordance with I of Article L. 613-44, after application, where applicable, of the deductions provided for in Articles 72e to 72j of the aforementioned Regulation (EU) No 575/2013;
2° The amounts of other commitments that may be used for internal bail-in;
3° For the own funds and commitments mentioned in 1° and 2° respectively:
a) Their composition, including their maturity structure;
b) Their ranking in liquidation proceedings under Book VI of the French Commercial Code;
c) If they are governed by the law of a third country, the name of the third country in question, and if they contain the contractual clauses referred to in Article L. 613-55-13, Article 52(1)(p) and (q) and Article 63(n) and (o) of the aforementioned Regulation (EU) No 575/2013.
The obligation to disclose the amounts of other commitments usable for internal bail-in referred to in 2° shall not apply to entities which, on the date of notification of the said information, hold amounts of own funds and eligible commitments equal to at least 150% of the minimum requirement expressed in accordance with I of Article L. 613-44.
II - The persons mentioned in I communicate the information mentioned in 1° of I at least once every six months and the information mentioned in 2° and 3° of I at least once a year. The frequency of this communication may be increased at the request of the Supervisory Board or the Resolution Board.
III.The same persons shall make public, at least once a year, the following information:
1° The amounts of own funds which, where applicable, meet the conditions set out in 2° of I of Article R. 613-46-2, and eligible commitments;
2° The composition of the own funds and commitments referred to in 1°, including their maturity structure and their ranking in the context of liquidation proceedings pursuant to Book VI of the Commercial Code;
3° The applicable minimum requirement for own funds and eligible commitments, expressed in accordance with I of Article L. 613-44.
IV - The provisions of II and III do not apply to entities whose resolution plan provides that they will be subject to winding-up proceedings pursuant to Book VI of the Commercial Code.
Where resolution measures have been implemented or the power referred to in Article L. 613-48 has been applied, the publication obligations shall apply as from the deadline set pursuant to 3° of II of Article 15 of Order 2020-1636 of 21 December 2020 on the resolution regime in the banking sector for compliance with the minimum capital requirement and eligible commitments.
