Banque de France: Best Central Bank Governance Europe 2016

The French pillar that supports the Eurosystem, the Banque de France plays a crucial role in contributing to preparing, implementing, and explaining monetary policy as well as to assuring financial stability across the euro area.

Banque de France provides the staff of the French prudential supervision and resolution authority (Autorité de Contrôle Prudentiel et de Résolution) that oversights 779 institutions from the banking sector and 826 insurance undertakings. The central bank also ensures the smooth running of domestic and cross-border payment processes and monitors the financial system to identify stresses early-on.

Uniquely, the Banque de France also plays an intermediary role between banks and over-indebted households to reschedule their debts. The Banque de France also maintains a number of specialist services to enterprises, such as the provision of credit ratings and credit mediation notably geared towards small and medium-sized ones.

Additionally, the bank compiles and publishes a wealth of data on the French economy that allows investors and business leaders to set out their strategies.

Founded in 1800, Banque de France gained prominence after it intervened decisively to solve the financial crisis of 1848. Operating independent of political considerations, the bank has emerged as a powerful guarantor of the Eurozone’s monetary and financial stability. Its robust system of governance with an executive committee at the heart of day-to-day operations, assisted by assets-liabilities and risk committees, helps ensure that the bank is ready to provide the financial and economic conditions for continued stability and sustained growth.

The judging panel is pleased to offer Banque de France the 2016 Best Central Bank Governance Europe Award.

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