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 Roland DELAPLACE (+ 33 1 42 92 69 93) / Alice ALGOT-SAME (+ 33 1 42 92 65 72)
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 Euroclear France is a T2S CSD and respects the T2S business day schedule and calendar. 8.30 a.m.–5.00 p.m.
Number of settlement cycles per day Real-time gross system (RTGS).
CCBM transactions are settled in the T2S real-time settlement window.
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 SICVBDFEFR2T282000L10 (BDF SAC ACCOUNT -CCBM as CCB)
SICVBDFEFR2T121000L10 (BDF MONETARY POLICY -SAC IN EUROCLEAR FRANCE)
n.a.
HCB's sub accounts in the SSS (where applicable) n.a. n.a.
Matching requirements Yes n.a.
Matching/Settlement details T2S mandatory matching fields
  • :95P::BUYR or seller//BIC11
  • :95R::Delivering or Receiving agent :
  • Issuer code “EGSP” / affiliate number coded on 12 digits or BIC Code
  • :95P::PSET//SICVFRPPXXX
 
Special Operating Procedures (a) ESES domestic securities with a counterparty at CBL
ISO 15022
SELL or BUYR : BIC 11 of the CBL Customer
DEAG/REAG : CEDELULLXXX
PSET : DAKVDEFFXXX
ISO 20022
Party1:CEDELULLXXX
Party 2 : BIC 11 of the CBL Customer
Delivering/receiving CSD : DAKVDEFFXXX

(b) ESES domestic securities with a counterparty at Euroclear Bank
DEAG/REAG : MGTCBEBEECL
SELL or BUYR : BIC 11 of the Euroclear Bank Customer
PSET : SICVFRPPXXX
or
DEAG/REAG : EGSP/000000000611
SELL or BUYR : BIC 11 of the Euroclear Bank Customer
PSET : SICVFRPPXXX
For the second format, the account number of EB in Euroclear France (EF) should be mentioned in a field 95R: DEAG or REAG/EGSP/Account number of EB in EF on 12 digits. EGSP stands for Euroclear Group Single Plat-form, it replaces the former SICV tag. (00000000611 for EB).
 
Homepage of SSS www.euroclearfrance.com