General information - France

24.06.2019

CBF, CBL and LuxCSD-eligible security types

  • Bons du Trésor Négociables (BTN) consisting of:
    • Bons à taux fixe et intérêts annuels (BTAN);
    • Bons à taux fixe et intérêts précomptés (BTF);
  • Corporate bonds;
  • Parts de fonds communs de Créances (PFCC);
  • Titres de Créances Négociables (TCN) consisting of:
    • Billets de Trésorerie (BT);
    • Bons à Moyen Terme Négociables (BMTN);
    • Bons des Institutions Financières Spécialisées (BIFS);
    • Certificats de Dépôts (CD);
  • Semi-government bonds;
  • Investment funds in dematerialised bearer form and foreign investment funds eligible in Euroclear France (EF), that is, OPCVMs - Organismes de Placement Collectif en Valeurs Mobilières (except for LuxCSD);
  • Equities in bearer and registered form, and equity products;
  • Loyalty bonus shares (CBF and CBL only);
  • Warrants.
  • Multi-listed securities (Home CSD outside T2S)

French registered securities

French registered securities are divided into two different types:

  • “Valeurs Essentiellement Nominatives” (VEN) or essentially registered securities: These securities exist / can be traded under the registered form only.
  • “Valeurs Occasionnellement Nominatives” (VON) or securities registered occasionally: These securities are commonly issued in bearer form but can be converted to registered form. Trading only takes place for the securities in bearer form. VON once registered can not be settled
  • Some VON are subject to LBS program 

Loyalty bonus shares ("Primes de fidélité")

Loyalty bonus shares ("Primes de fidélité") provide their holders with an entitlement to a Loyalty bonus provided that the relevant shares have been held in registered form, in the name of the final beneficiary for at least two entire calendar years.

Loyalty bonus shares registered in the name of the final beneficiary will be settled via BP2S.

The following table summarises which type of securities are eligible via which link:


Form

Eligibility CBL

Eligibility CBF

Eligibility LuxCSD

VEN

Registered

Direct link to CBFa for holding Euroclear France/T2S eligible securities

Direct link to Euroclear France a

Not eligible

VON

Bearer and Registered

Direct link to CBF for holding Euroclear France/T2S eligible securities

Direct link to Euroclear France

Direct link to CBF for holding Euroclear France/T2S eligible securities (Bearer only)

Loyalty bonus shares

Bearer and Registered

Direct link to CBF for holding Euroclear France/T2S eligible securitiesDirect link to Euroclear France

Not eligible

a. CBF will access Euroclear France as investor CSD via LuxCSD.

Depository

Depository

CSD/Local custodian/Agent

CBF

All T2S-eligible assets

EUROCLEAR FRANCE
66 rue de la Victoire
F-75009 Paris
France

Asset servicing local agent:

BNP PARIBAS SECURITIES SERVICES, PARIS (BP2S)
Les Grands Moulins de Pantin
9 rue du Débarcadère
93500 Pantin
France

CBL

All T2S-eligible assets

CLEARSTREAM BANKING AG
Mergenthalerallee 61
D-65760 Eschborn
Germany

Custodian/Depository for all non-T2S eligible assets (1F)

BNP PARIBAS SECURITIES SERVICES, PARIS (BP2S)
Les Grands Moulins de Pantin
9 rue du Débarcadère
93500 Pantin
France

Account operator/Depository

BNP PARIBAS SECURITIES SERVICES, PARIS (BP2S)
Les Grands Moulins de Pantin
9 rue du Débarcadère
93500 Pantin
France

LuxCSD

All T2S eligible assets:

CLEARSTREAM BANKING AG
Mergenthalerallee 61
D-65760 Eschborn
Germany

CBF Cash correspondent details

Currency:

Euro (EUR) via TARGET2

CCB name:

Bundesbank

CBF account:

RTGS account of a direct TARGET2 participant

CBL Cash correspondent details

Currency:

Euro (EUR) via TARGET2

CCB name:

Banque centrale du Luxembourg

CBL account:

See TARGET2 payment instructions

SWIFT address:

TRGTXEPMXXX

LuxCSD Cash correspondent details

Currency:

Euro (EUR) via TARGET2

CCB name:

Banque centrale du Luxembourg

LuxCSD account:

RTGS account of a direct TARGET2 participant