Let’s talk about banks and let’s get serious.
2010 was a pivotal year for the reform of the international financial system (Basel III, European supervision, etc.). France’s regulatory framework was also changed, with the Consumer Lending Act, the Banking and Financial Regulation Act, and payment instruments.
All of these changes had a very structuring impact on banking activities and organisation.
Through the resilience of their business model, based on disciplined, responsible management and business diversity, French banks carried on financing the economy at much better-than-average volumes and conditions compared to the European Union as a whole. In 2010, outstanding loans to the economy rose by 4% on 2009.
French banks continued their efforts to improve information and the accessibility of banking services for their clients following the publication of the Pauget/Constans report. These new measures complement the many initiatives already underway and will be implemented in the first half of 2011.
Management report FBF 2010