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532-18 of the Monetary and Financial Code and authorised to hold cash accounts; e) the Caisse des Dépôts et Consignations; f) a legal entity established in France whose principal or sole purpose is the custody or administration of financial instruments referred to in point 5° of Article L. Before agreeing to domicile the securities, the institutions acting as issuing and paying agents must ensure that the issuer complies with the terms and conditions of issue as set forth in Articles L. 213-4-1 of the Monetary and Financial Code and the texts implementing said articles. Such bodies are included in a list laid down by order of the Minister of the Economy and approved by the Banque de France.
213-3 of the Monetary and Financial Code are required to domicile the securities issued within the framework of their programme, in accordance with the terms and conditions laid down in the General Regulations of the Autorité des Marchés Financiers (French financial markets authority), with one of the following entities: a) a credit institution approved in France;b) a branch referred to in Article L. For this, it must be informed when new issuers enter this market under the conditions set forth in Article D. These securities must be fully backed by debt instruments that are eligible, on a non-temporary basis, for refinancing schemes set up by the Eurosystem within the framework of its monetary policy, excluding all minimum nominal amount criteria.
511-22 of the Monetary and Financial Code;c) an investment firm accredited in France and authorised to hold cash accounts; d) a branch referred to in Article L. 213-2 and must receive from the issuers, without delay, all documents that have been prepared, in accordance with the notification obligations set forth in Article L. When a securitisation body has several compartments, all the compartments shall be subject to the aforementioned criteria and each one will be examined to verify that there are no subordinated securities.
Definition: Commercial Paper or CP is defined as a short-term, unsecured money market instrument, issued as a promissory note by big corporations having excellent credit ratings.
As the instrument is not backed by collateral, only large firms with considerable financial strength are authorised to issue the instrument.
EUR 150,000 or the equivalent amount in another currency.
Commercial Paper Short Term Financing Pharmacy Essay
If the financial documentation is written in a language other than French that is customary in the financial sphere, the minimum amount is set at EUR 200,000 or the equivalent in another currency.
Public sector companies if they fulfil the conditions set out in 2;4.
Public sector companies without equity capital but which are authorised to launch a public offer;5.
Each year, the issuer must provide the Banque de France with an updated version of its financial documentation within forty-five days of the general shareholders’ meeting or the meeting of the body acting in such a capacity, held to approve the financial statements for the previous financial year.
As an exception, as part of the first application of the reform relating to negotiable debt securities, this deadline is extended to three months after the general shareholders’ meeting (held to approve the financial statements for the previous financial year) following the entry into force of said reform.