Banque de France

Banque de France
Logo
Headquarters	Paris, France
Established	18 January 1800
Governor	Christian Noyer
Central bank of	France
Preceded by	Banque Royale
Succeeded by	European Central Bank (1999)¹
Website	www.banque-france.fr
¹ The Bank of France (Banque de France) still exists but many functions have been taken over by the ECB.

The Banque de France, headquartered in Paris, is the central bank of France; it is linked to the European Central Bank (ECB). Founded in 1800, it helped resolve the financial crisis of 1848 and emerged as a powerful central bank. Its main charge is to implement the interest rate policy of the European System of Central Banks (ESCB).

History 1
Linkage with the ESCB 2
Timeline 3
Controversy 4
See also 5
References 6
Further reading 7
External links 8

History

In 1800, financial power in France was in the hands of about ten to fifteen banking houses whose founders, in most cases, came from Switzerland in the second half of the eighteenth century. These bankers, mostly Protestant, were deeply involved in the agitations leading up to the French Revolution. When the revolutionary violence got out of hand, they orchestrated the rise of Napoleon, whom they regarded as the restorer of order. As a reward for their support, Napoleon, in 1800, gave the bankers a monopoly over French finance by giving them control of the new Bank of France.^[1] For the first fifteen years it was the sole issuer of bank notes in Paris, and this privilege was extended to other financially important towns and the rest of the country by 1848.^[2]

Linkage with the ESCB

ATM of the Banque de France in Paris.

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".

Headquarters : Hôtel de Toulouse in Paris

Timeline

1716 John Law opens the Banque Générale
1718 The Banque Générale is acquired by the government and renamed Banque Royale
1721 The bubble crashes and its chief executive flees for his life^[3]
1800 Creation of the Banque de France by Napoleon Bonaparte^[1]
14 April 1803, the new Bank received its first official charter granting it the exclusive right to issue paper money in Paris for fifteen years.^[4]
22 April 1806, a new law replaced the Central Committee with a Governor and two Deputy Governors. All three were appointed by the Emperor.^[4]
Decree dated 16 January 1808 set out the "Basic Statutes", which were to govern the Bank's operations until 1936.^[4]
Decree on 6 March 1808 authorized the Bank to purchase the former mansion of the Count of Toulouse in the rue de la Vrillière in Paris for its headquarters.^[4]
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 into the European System of Central Banks

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.^[5]^[6]

References

^ ^a ^b Quigley, Carroll (1966). Tragedy And Hope. New York: Macmillan. p. 515.
^ Banque de France, Encyclopaedia Britannica
^ Graeber, David (2011). Debt: The First 5000 Years. Brooklyn, NY: Melville House. p. 342.
^ ^a ^b ^c ^d http://www.banque-france.fr/en/banque-de-france/history/the-milestones/1800-creation-of-the-banque-de-france.html
^ 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

France topics

History

Periods	Timeline Prehistory Celtic Gaul Roman Gaul Francia West Francia Middle Ages Early modern era Long nineteenth century French Revolution Napoleonic era Twentieth century

Regimes	Ancien Régime Kingdom of France Kingdom of the French First Republic First Empire Bourbon Restoration July Monarchy Second Republic Second Empire Third Republic France during the Second World War Free France Vichy France Provisional Republic Fourth Republic Fifth Republic

Geography

Politics

Economy

Society

Crime Demographics Education Health care People Poverty Religion Social class Welfare

Culture	Architecture Art Cinema ( comedy ) Cuisine Fashion Gardens Language Literature Media Music Philosophy Public holidays Sport Symbols Theatre

Outline

Central banks

Global

Global	Bank for International Settlements Basel Committee on Banking Supervision Financial Stability Board

By continent

Africa	Bank of Central African States Central Bank of West African States Bank of Algeria National Bank of Angola Bank of Botswana Bank of the Republic of Burundi Bank of Cape Verde Central Bank of the Comoros Central Bank of the Congo Central Bank of Djibouti Central Bank of Egypt Bank of Eritrea National Bank of Ethiopia Central Bank of The Gambia Bank of Ghana Central Bank of the Republic of Guinea Central Bank of Kenya Central Bank of Lesotho Central Bank of Liberia Central Bank of Libya Central Bank of Madagascar Reserve Bank of Malawi Central Bank of Mauritania Bank of Mauritius Bank Al-Maghrib Bank of Mozambique Bank of Namibia Central Bank of Nigeria National Bank of Rwanda Central Bank of São Tomé and Príncipe Central Bank of Seychelles Bank of Sierra Leone Central Bank of Somalia Bank of Somaliland South African Reserve Bank Bank of South Sudan Central Bank of Sudan Central Bank of Swaziland Bank of Tanzania Central Bank of Tunisia Bank of Uganda Bank of Zambia Reserve Bank of Zimbabwe

Americas	Central Bank of Argentina Central Bank of Aruba Central Bank of The Bahamas Central Bank of Barbados Bermuda Monetary Authority Central Bank of Brazil Bank of Canada Central Bank of Chile Bank of the Republic (Colombia) Central Bank of Cuba Central Bank of Curaçao and Sint Maarten Eastern Caribbean Central Bank Cayman Islands Monetary Authority Central Bank of Ecuador Bank of Guatemala Bank of the Republic of Haiti Central Bank of Honduras Bank of Jamaica Bank of Mexico Central Bank of Nicaragua Central Reserve Bank of Peru Central Bank of Suriname Central Bank of Trinidad and Tobago Federal Reserve System (United States) Central Bank of Uruguay Central Bank of Venezuela

Asia	Da Afghanistan Bank Central Bank of Bahrain Bangladesh Bank Royal Monetary Authority of Bhutan Brunei Currency and Monetary Board Autoriti Monetari Brunei Darussalam National Bank of Cambodia People's Bank of China Hong Kong Monetary Authority Reserve Bank of India Bank Indonesia Central Bank of the Islamic Republic of Iran Central Bank of Iraq Bank of Israel Bank of Japan Central Bank of Jordan National Bank of Kazakhstan National Bank of the Kyrgyz Republic Bank of Korea Central Bank of the Democratic People's Republic of Korea Central Bank of Kuwait Banque du Liban Monetary Authority of Macao Bank Negara Malaysia Maldives Monetary Authority Bank of Mongolia Central Bank of Myanmar Nepal Rastra Bank Central Bank of Oman State Bank of Pakistan Palestine Monetary Authority Bangko Sentral ng Pilipinas Qatar Central Bank Saudi Arabian Monetary Agency Monetary Authority of Singapore Central Bank of Sri Lanka Central Bank of Syria Central Bank of the Republic of China (Taiwan) Bank of Thailand Central Bank of Turkmenistan Central Bank of the United Arab Emirates Central Bank of Uzbekistan State Bank of Vietnam Central Bank of Yemen

Europe	European Central Bank (Eurosystem) National Bank of the Republic of Abkhazia Bank of Albania Central Bank of Armenia National Bank of Austria Central Bank of Azerbaijan National Bank of the Republic of Belarus National Bank of Belgium Central Bank of Bosnia and Herzegovina Bulgarian National Bank Croatian National Bank Central Bank of Cyprus Czech National Bank Danmarks Nationalbank Deutsche Bundesbank Bank of England Bank of Estonia Bank of Finland Banque de France National Bank of Georgia Bank of Greece Hungarian National Bank Central Bank of Iceland Central Bank of Ireland Banca d'Italia Central Bank of Kosovo National Bank of Latvia Bank of Lithuania Central Bank of Luxembourg National Bank of the Republic of Macedonia Central Bank of Malta National Bank of Moldova Central Bank of Montenegro De Nederlandsche Bank Norges Bank Central Bank of the Turkish Republic of Northern Cyprus National Bank of Poland Banco de Portugal National Bank of Romania Central Bank of Russia Banka Slovenije (Slovenia) National Bank of Serbia Bank of Spain Národná banka Slovenska (Slovakia) Sveriges Riksbank Swiss National Bank Central Bank of the Republic of Turkey National Bank of Ukraine

Oceania	Reserve Bank of Australia Reserve Bank of Fiji Reserve Bank of New Zealand Bank of Papua New Guinea Central Bank of Samoa Central Bank of Solomon Islands National Reserve Bank of Tonga

Policies and implementation

Policies	Capital requirement Contractionary monetary policy Expansionary monetary policy Basel II Basel III Basel 4

Implementation	Capital control Discount rate Interest rates Money creation Open market operation 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

Lists

List of central banks Central banks and currencies of Africa Central banks and currencies of the Caribbean Central banks and currencies of Central America and South America

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 of Ireland Banca d'Italia National Bank of Latvia Bank of Lithuania Central Bank of Luxembourg Central Bank of Malta De Nederlandsche Bank Banco de Portugal National Bank of Slovakia Bank of Slovenia Bank of Spain

Outside Eurozone	Bulgarian National Bank Croatian National Bank Czech National Bank Danmarks Nationalbank Hungarian National Bank National Bank of Poland National Bank of Romania Sveriges Riksbank Bank of England

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

European Union

Banque de France

Banque de France

Contents

History

Linkage with the ESCB

Timeline

Controversy

See also

References

Further reading

External links

Categories

Paris

Encyclopedia Article

France

Encyclopedia Article

European Union

Encyclopedia Article

European Central Bank

Encyclopedia Article

French Revolution

Encyclopedia Article

Suggestions

Cité de l'économie et de la monnaie

Encyclopedia Article

European Central Bank

Encyclopedia Article

French franc

Encyclopedia Article

European System of Central Banks

Encyclopedia Article

Comorian franc

Encyclopedia Article