French Monetary and Financial Code
In forceIn an emergency, the Autorité de contrôle prudentiel et de résolution may, before initiating the procedure provided for in Article R. 613-34 or pending the measures to be taken by the home Member State, take any protective measure provided for in Article L. 612-33 to protect against instability in the financial system that could seriously threaten the collective interests of depositors, investors and customers in France. Any measure taken in this respect shall be communicated without delay to the European Commission, the European Banking Authority and the competent authorities of the home Member State.
The Autorité de contrôle prudentiel et de résolution shall terminate the precautionary measures that it has adopted in accordance with the previous paragraph when it considers that they are no longer justified, taking into account the provisions adopted pursuant to Article R. 613-34. No precautionary measure may be adopted or maintained after the competent administrative or judicial authorities of the home Member State have taken reorganisation measures within the meaning of Article L. 613-31-2.
