Bank of France

Also found in: Financial, Wikipedia.

Bank of France


(Banque de France), the central bank of issue of France.

The Bank of France was founded in 1800 by Napoleon Bonaparte as a private shareholders’ society. In 1803 it received the monopoly right to issue bank notes in Paris, and after 1848, following the absorption of nine provincial banks of issue, for the whole country. The Bank of France was always a reactionary stronghold. Its resources were used to suppress the Revolution of 1848 and the Paris Commune; it collaborated with the German fascists during the occupation in World War II. Until 1936, the bank was ruled by the Conseil de Régence (15 governors representing the 200 most important shareholders); later the bank was directed by the Conseil General (20 councillors, 18 of whom were appointed by the government). In December 1945, the Bank of France was nationalized. The shareholders received substantial compensation, but control of the bank remained in the hands of the financial oligarchy.

The Bank of France grants loans to the government and is a bankers’ bank. It takes short-term and medium-term bills of exchange from commercial banks and gives them short-term credit, and it gives credit directly to industrial and commercial enterprises. The Bank of France and the governmental Conseil National de Credit regulate the volume of credit.

In 1968 the Bank of France had 258 branches in the country and maintained correspondent ties with the central banks of issue in most of the countries of the world. At the beginning of 1969 the shareholders’ capital of the bank was 250 million francs, and the bank’s balance was 91.2 billion francs. The bank issued 72.2 billion francs. Deposits totaled 12.1 billion francs (including 7.1 billion francs deposited by French banks); advances and loans to the government were 8.8 billion francs; discounts and rediscounts of commercial bills of exchange came to 36.5 billion francs (including 4.7 billion francs in medium-term bills of exchange connected with the construction of housing). Gold and foreign assets stood at 20.7 billion francs, as compared to more than 34 billion francs at the beginning of 1968.


References in periodicals archive ?
The Bank of France reminds those investing in bitcoin that they do so entirely at their own risk," he added.
contract to supply and distribution of natural gas and related services of the sites of the Bank of France located in France
The meagre growth forecast from the Bank of France was in line with its last forecast.
The Bank of France does not make predictions of annual growth.
The French state will return to Greece the interest earned by the Bank of France on Greek debt it holds to the amount of 754 million euros," the French budget document said.
The CBB is always keen to expand the areas of co-operation with international financial and banking institutions to include those which have the expertise and capabilities of advanced training such as the IBFI of the Bank of France," said CBB executive director of corporate services Dr Huda Maskati.
Attempts to reassure the market by the bank's boss and the governor of the Bank of France had little effect.
A fellow of Association of Chartered Certified Accountants (FACCA), Ashraf is the former Deputy Managing Director/Director of Pak China Investment Company and also served as Managing Director and Chief Executive Officer of Bank of Khyber in addition to serving as Country Investment Banking Head and Head of Financial Institutions for Societe Generale (SG): The French International Bank of France from 1996 to 2002.
Damascus, (SANA)-Prime Minister Mohammad Naji Otri reviewed on Wednesday with Governor of the Central Bank of France Christian Noyer cooperation prospects and means of developing them in the economic, development, transport and service sectors.
The Bank of France also said the economy will contract by 0.
The head of the Bank of France told it that Societe Generale failed to spot and deal with "malfunctions" leading up to the announcement of the losses.
Noyer, of course, is the Governor of the Bank of France and a long-time European strategist who was key in helping in the formation of monetary union.