Banque de France

Banque de France


Logo	One of the Banque de France's offices in Paris

Headquarters

Paris, France

Established

18 January 1800

Governor

Christian Noyer

Central bank of

France

Website

banque-france.fr

Preceded by

Banque Royale

Succeeded by

European Central Bank (1999)¹

¹ The Bank of France (Banque de France) still exists but many functions have been taken over by the ECB.

The Banque de France is the central bank of France; it is linked to the European Central Bank (ECB). Its main charge is to implement the interest rate policy of the European System of Central Banks (ESCB). It is headquartered in Paris.

1 Linkage with the ESCB
2 History
3 Controversy
4 See also
5 References
6 External links

Linkage with the ESCB

On 1 June 1998, a new institution was created, the European Central Bank (ECB), charged with steering the single monetary policy for the euro. The body formed by the ECB, and the national central banks (NCB) of all the member states of the European Union, constitute the European System of Central Banks (ESCB).

The ESCB is an institutional framework of a single monetary policy for the euro. According to the Banque de France's website, the "sharing of responsibilities between the ECB and the NCBs is based upon significant decentralization of the conduct of the ESCB's single monetary policy".

History

1716 John Law opens Banque Générale
1718 Banque Générale is acquired by the government and renamed Banque Royale
1800 Creation of the Banque de France by Napoleon Bonaparte
1808–1936 The Bank's notes became legal tender; expansion of the branch network
1936–1945 Nationalisation
1973 Rewriting of the Bank's statutes
1993 A landmark reform granted the Bank independence, in order to ensure price stability, regardless of domestic politics. This reform cleared the path for the European monetary union.
1998 Entered the European System of Central Bank

Controversy

In 2010, the French government's Autorité de la concurrence (the department in charge of regulating competition) fined eleven banks, including Banque de France, the sum of €384,900,000 for colluding to charge unjustified fees on check processing, especially for extra fees charged during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer.^[1]^[2]

References

^ Collusion in the banking sector, Press Release of Autorité de la concurrence, République Française, 20 September 2010, retrv 20 September 2010
^ 3rd UPDATE: French Watchdog Fines 11 Banks For Fee Cartel , Elena Bertson, Dow Jones News Wires / Wall Street Journal online, retr 20 September 2010

External links

(French) (English) Official site of Banque de France
(French) Beginnings of Banque de France The directors of Banque de France between 1800 and 1815.

(French) Banque de France, Minitel Connection
(French) Banque de France

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Central banks

Global

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By continent

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Policies and implementation

Policies	Capital requirement · Contractionary monetary policy · Expansionary monetary policy

Implementation	Capital control · Discount rate · Interest rates · Money creation · Open market operations · Sovereign wealth fund

Bretton Woods system

International Monetary Fund · World Bank Group (International Bank for Reconstruction and Development · International Centre for Settlement of Investment Disputes · International Development Association · International Finance Corporation · Multilateral Investment Guarantee Agency)

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Names in italics indicate non-sovereign (dependent) territories, former countries, or states with limited recognition

Central banks of the European Union

Within Eurozone	National Bank of Austria · National Bank of Belgium · Central Bank of Cyprus · Bank of Estonia · Bank of Finland · Banque de France · Deutsche Bundesbank · Bank of Greece · Central Bank and Financial Services Authority of Ireland · Banca d'Italia · Central Bank of Luxembourg · Central Bank of Malta · De Nederlandsche Bank · Bank of Portugal · National Bank of Slovakia · Bank of Slovenia · Bank of Spain

Outside Eurozone	Bulgarian National Bank · Czech National Bank · Danmarks Nationalbank · Hungarian National Bank · National Bank of Latvia · Bank of Lithuania · Polish National Bank · National Bank of Romania · Sveriges Riksbank · Bank of England

Banking-related EU institutions	European Central Bank · European System of Central Banks · European Investment Bank

Central banks · European Union