Communication of Compagnie de Financement Foncier
On November 28, 2012, the Eurosystem has changed the eligibility rules of certain assets for ECB refinancing operations. As such, as from March 31, 2013, new issuances of covered bonds – with the exception of taps on existing lines at November 28, 2012 – which asset cover pool contains securitizations other than those originated by the Group to which the issuer belongs cannot be used as collateral for operations with the ECB. On November 28, 2014, this ineligibility will run for all covered bonds concerned.
Compagnie de Financement Foncier, which no longer holds securitizations in its balance sheet, is no longer subject to this ineligibility for ECB refinancing operations.
In addition, Compagnie de Financement Foncier achieved compliance with CRD IV. Therefore, from January 1st, 2014, investors who hold its obligations foncières will benefit from the favorable regime established by this Directive.