Key figures 2019 IN 2019, THE BANQUE DE FRANCE COMPRISED ... 95 BRANCHES 9,857 FULL-TIME EQUIVALENT EMPLOYEES M Y O IT N IL E T B A A R T Y S S L T A R I A C T E N G A Y N I M F I S Y S S T E E R I I V O C I C N3 O E S S S D T O A N T H Y E E C O N O M €6.5BN €13 4 M OF PROFIT BEFORE TAX REDUCTION IN OPERATING EXPENSES COMPARED WITH 2015 2 Key figures - Banque de France 2019 4,638 ENTREPRENEURS ASSISTED BY OUR VSE CORRESPONDENTS AS WELL AS... 205,121 HOUSEHOLDS HELPED WITH THEIR FINANCIAL DIFFICULTIES (RIGHT TO AN ACCOUNT, OVERINDEBTEDNESS) 18,165 3.8% SECONDARY SCHOOL PUPILS REDUCTION IN ENERGY-RELATED INSTRUCTED IN ECONOMIC, GREENHOUSE GAS EMISSIONS BUDGETARY AND FINANCIAL ISSUES COMPARED WITH 2018 Key figures - Banque de France 2019 3 THE BANK’S MONETARY STRATEGY IN 2019 MISSIONS The Banque de France’s At the heart of the The Banque de France cutting-edge expertise Eurosystem, the Banque maintains confidence in the consolidates its position as the de France designs and currency in all its forms: central bank for markets and implements monetary • printing of the Europa ensures the Paris financial policy with the aim of banknotes’ series with centre is efficient and secure: safeguarding a major public innovative security features good: monetary stability • secure financing environment • putting banknotes into • participation in Governing • increased capital market liquidity circulation and maintaining Council monetary the currency • management of foreign policy decisions exchange reserves • security and innovation • implementation of in all payment instruments exceptional measures to keep inflation and growth on track • production of economic statistics and forecasts to provide valuable insight 4 Key figures - Banque de France 2019 €6 11. 5 BN 949M of securities purchased by the Banque de France items of data accessible since the implementation of the CBPP3, ABSPP, via the Open Data Room PSPP and CSPP programmes (cumulated flows at end-2019) 1BN 5.4 BN euro banknotes banknotes distributed manufactured at Banque de France and distributed counters 2,43 6 ton nes : w ei gh t o €1 f 06 F , ra 1 n B c s N e e ’s rv : se g g o o re l ld d e r g r e e n s a s e e r h r v c v e x e s e s ( 4 n t h g l i a e r g r BN e o f € s 161.1 t : total value of France’s net gold h o N l and foreign exchange reserves d B i n g 5 i 5 n € t h e w o r l d ) Key figures - Banque de France 2019 5 2019 HIGHLIGHTS MAY JULY 28 May: The new €100 and €200 banknotes of 16 July: “Bretton Woods: 75 years later the Europa series are put into circulation in the – Thinking about the next 75”, conference at euro area. the Banque de France in the framework of the 2019 French Presidency of the G7. https://www.banque-france.fr/en/ french-g7-presidency-2019 ↑ The new €100 and €200 banknotes put into circulation on 28 May 2019 SEPTEMBER First of a new series of quarterly targeted longer-term refinancing operations (TLTRO III.1 to 7 between September 2019 and March 2021) for Eurosystem banks. https://www.ecb.europa.eu/press/ The Observatory for the Security of Payment Means publishes the migration plan for the ↑ Interactive presentation on the ECB’s website: generalisation of strong authentication for https://www.ecb.europa.eu/euro/banknotes/ online purchases. https://www.banque-france.fr/ plan-de-migration-pour-lauthentification-forte 6 Key figures - Banque de France 2019 OCTOBER 30 October: The Eurosystem introduces a two-tier reserve remuneration system, whereby part of the excess liquidity holdings are exempt from the negative rate applicable on the deposit facility. https://www.ecb.europa.eu/press/ 12 November: The Banque de France 31 October: Presentation of the new FR-BDF announces the opening of an office macroeconomic model used for forecasts and in Singapore. analysis on France. Press release: https://www.banque-france.fr/ https://publications.banque-france.fr/en/ en/communique-de-presse/ DECEMBER 4 December: The Banque de France announces its participation in experiments with digital central bank money (DCBM). Governor’s speech: https://acpr.banque-france. fr/publications/ 27 December: Eco Notepad, the Banque de France’s economic blog, celebrates its third anniversary, with 145 posts published. ↑ The quarterly Macroeconomic Projections France publication https://blocnotesdeleco. https://publications.banque-france.fr/en/liste-chronologique/ banque-france.fr/en/blog-entry/ macroeconomic-projections blog-discerning-and-demanding-readers NOVEMBER 1 November: The Eurosystem relaunches the asset purchase programme at a rate of EUR 20 billion per month. https://www.ecb.europa.eu/press/ Key figures - Banque de France 2019 7 FINANCIAL STABILITY IN 2019 MISSIONS As well as securing confidence The Banque de France The Banque de France in the currency, the Banque anticipates ensures the sound de France guarantees another and prevents risks: functioning and security essential public good: of payment instruments: • evaluation of new risks a sound financial sector • prevention of systemic risks • contributions to changes • inspections at the European in regulations • sound functioning level to maintain of payment systems and an international standard • support for banks in their market infrastructures for bank resilience digital transformation • protection of customer interests 8 Key figures - Banque de France 2019 671 695 banks supervised insurance firms and mutual insurers supervised 192 47 on-site inspections of insurance inspections on behalf firms and banks of the ECB as part of the Single (excl. SSM inspections) Supervisory Mechanism (SSM) and their business practices 14.4% the core tier one capital ratio of the six main French banking groups 1, 0 4 2 ACPR employees (full-time equivalent) €24.8BN €301BN average daily flows processed by retail average daily settlement flows processed payment systems in France in December 2019 by Target2 (large value payments) in France in December 2019 (the equivalent of 1/8th of annual GDP) Key figures - Banque de France 2019 9 HIGHLIGHTS 2019 APRIL JUNE 2 April: The Haut Conseil de stabilité financière 4‑6 June: An exercise to simulate a cyberattack (HCSF – High Council for Financial Stability) on the G7 financial system was carried out raised the countercyclical capital buffer rate with the aim of assessing the communication from 0.25% to 0.5%. protocol between the financial authorities. The three-day long exercise was coordinated 17 April: The Central Banks and Supervisors by the Banque de France and involved Network for Greening the Financial System 24 financial authorities from 7 countries. (NGFS) held its first annual conference. Network for Greening the Financial System First comprehensive report A call for action Climate change as a source of financial risk April 2019 https://www.ngfs.net/en/ 10 Key figures - Banque de France 2019 JULY DECEMBER 4 July: Publication of the analysis of responses 20 December: The HCSF published a to the ACPR’s public consultation on artificial recommendation addressed to credit intelligence. The feedback supported and institutions regarding lending standards for enhanced the work currently underway residential housing loans. alongside financial industry representatives. ACPR (Fintech Innovation), Artificial https://www.economie.gouv.fr/hcsf/ intelligence: challenges for the financial sector les-recommandations-du-hcsf – responses to the public consultation on the ACPR’s discussion paper, December 2018, analysis of responses, June 2019. https://acpr.banque-france.fr/en/ artificial-intelligence Key figures - Banque de France 2019 11 SERVICES TO THE ECONOMY AND SOCIETY IN 2019 MISSIONS The Banque de France The Banque de France listens The Banque de France provides the general public to consumers, especially acts as banker to the with keys to understanding those that are vulnerable: French government: the economy: • help for the overindebted, • holding of the French • national steering body right to a basic Treasury’s bank account for France’s financial bank account • management of education strategy • maintenance of payment government debt auctions • large-scale initiatives incident registers, and partnerships monitoring of bank fees The Banque de France provides help and guidance to businesses, especially small businesses: • guidance for VSEs and SMEs • credit mediation 12 Key figures - Banque de France 2019 51,668 153,453 basic bank accounts cases of overindebtedness handled opened at the Banque de France’s behest by the Household Debt Commissions (under the right to a bank account procedure) 199,662 calls handled by the Assurance Banque Épargne Info Service (ABE IS) telephone platform and by the AMF and ACPR 13,000 271,215 businesses surveyed each month ratings assigned to non-financial corporations for the Banque de France’s economic surveys (mainly SMEs) 4,638 7, 4 87 VSE managers towards professional jobs saved or secured thanks organisations and networks to credit mediation Key figures - Banque de France 2019 13 2019 HIGHLIGHTS MARCH SEPTEMBER 27 March: Signature of a framework 4 September: Launch of the first version of agreement by the Governor of the Banque de the Mes questions d’entrepreneur (MQDE) France and the Chairman of the Assemblée des website, a national economic and financial communautés de France (AdCF – Association education portal for entrepreneurs. of French Communities) under which the Banque de France will compile cartographic www.mesquestionsdentrepreneur.fr representations of data on businesses. OCTOBER APRIL 8 October: Expansion of the VSE 3 April: Signature of a partnership agreement correspondent scheme to SMEs: between the Banque de France Companies 102 correspondents at the Banque Directorate (DGE), the National Delegation de France branches offer advice and guidance for Employment and Professional Training, to VSEs and SMEs.