Market practices in France

France
Name of National Central Bank Banque de France
Collateral management helpdesk bopm@banque-france.fr
Phone number of the CCBM unit + 33 1 42 92 27 16 / + 33 1 40 28 86 13
Fax number of the CCBM unit + 33 1 42 92 61 63 / +33 1 42 92 41 90
Foreign counterparties’ contact for credit claim related issues Eliane KLEIN (+ 33 1 42 92 41 18) / Colette KRUPP (+ 33 1 42 92 69 93)
Publications describing local legal and operational procedures Monetary policy operations

Legal and Procedural Aspects
Procedural aspects governing a repurchase agreement with the NCB and legal documentation used (if applicable) Banque de France as HCB (pledge)
Procedural aspects governing a pledge towards the NCB and legal documentation used (if applicable) Banque de France as CCB (repo) : n.a.
Specific procedures governing non-marketable assets Cross-border use of credit claims

Technical Aspects Euroclear France Banque de France
Type of eligible assets held All eligible assets (except credit claims) Non-marketable assets (credit claims)
Opening hours 8.00 a.m.–5.30 p.m. (for same day settlement) 8.30 a.m.–5.00 p.m.
Number of settlement cycles per day Real-time gross system (RTGS) No settlement cycle; transactions can be forwarded to Banque de France during CCBM opening hours
BIC of SSS(s) SICVFRPPXXX BDFEFRPPXXX
Account of NCB in the SSS 282 n.a.
HCB's sub accounts in the SSS (where applicable) n.a. n.a.
Matching requirements Yes n.a.
Matching/Settlement details Instructions are matched against the following elements :
  • Nature of operation (purchase or sale)
  • Correspondent account numbers
  • If the correspondent is an ICSD, the numbered account of the counterparty in the ICSD
  • Trade date
  • Settlement date
  • ISIN code of the asset
  • Amount of the asset
  • Type of the asset
  • Currency of the asset
  • Type of instruction (LG = fop)
 
Special Operating Procedures No special procedure for CCBM  
Homepage of SSS www.euroclearfrance.com