France's banking monopoly cracks open

Author: | Published: 11 Dec 2017

The government has progressively opened its long-standing banking monopoly to new credit providers, but only in a limited fashion – for now

Under European regulations, the basis for a banking monopoly is solely to prohibit firms other than credit institutions to carry out the business of taking deposits or other repayable funds from the public. The objective is to protect the public against the risk of insolvency or illiquidity of entities that, while receiving deposits, may be tempted to engage in transformation or leverage without being subject to applicable regulations. This objective of the banking monopoly has generally been well received and remains unchallenged....


 

 

close Register today to read IFLR's global coverage

Get unlimited access to IFLR.com for 7 days*, including the latest regulatory developments in the global financial sector, updated daily.

  • Deal Analysis
  • Expert Opinion
  • Best Practice

register

*all IFLR's global coverage published in the last 3 months.

Read IFLR's global coverage whenever and wherever you want for 7 days with IFLR mobile app for iPad and iPhone

"The format of the Review has changed over the years; the high quality of its substantive content has not."
Lee C Buchheit, Cleary Gottlieb

register