French Monetary and Financial Code
In forceA proportion of the total deposits collected in respect of the Livret A and the Livret de Développement Durable et Solidaire governed by article L. 221-27 by institutions distributing one or other of these passbooks is centralised by Caisse des Dépôts et Consignations in the fund provided for in article L. 221-7.
The centralisation rate for deposits collected under the Livret A and Livret de Développement Durable et Solidaire passbooks is set so that the resources centralised on these passbooks in the fund provided for in article L. 221-7 are at least equal to the amount of loans granted for social housing and urban policy by Caisse des Dépôts et Consignations under this same fund, multiplied by a coefficient equal to 1.25.
The resources collected by the institutions distributing the Livret A or the Livret de développement durable et solidaire and not centralised in application of the preceding paragraphs are used by these institutions to finance small and medium-sized enterprises, in particular for their creation and development, to finance projects contributing to the energy transition or the reduction of the climate footprint as well as to finance legal entities covered by article 1 of law no. 2014-856 of 31 July 2014 relating to the social and solidarity economy. In addition, each year, when the total amount of sums deposited in Livret A and Livret de développement durable et solidaire passbooks and not centralised by the Caisse des dépôts et consignations increases, the credit institution concerned must devote at least three-quarters of the increase recorded to the allocation of new loans to small and medium-sized enterprises.
Institutions distributing Livret A or Livret de Développement Durable et Solidaire passbook savings accounts must publish an annual report on the use of funds collected under these two accounts and not centralised.
In order to enable verification of compliance with the employment obligations referred to in the third paragraph, establishments distributing the Livret A or the Livret de Développement Durable et Solidaire provide the Minister for the Economy with written information once a quarter on the financial assistance granted using non-centralised resources.
The form and content of the information mentioned in the previous two paragraphs are set by order of the Minister for the Economy.
A Conseil d'Etat decree, issued after consultation with the Caisse des dépôts et consignations supervisory commission, shall specify the conditions for implementation of this article.
