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June 2018 - Assessment of Risks to the French Financial System

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Banque de France Annual Report 2017

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Financial Stability Review no. 22

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Macroeconomic projections – September 2018

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Banque de France Bulletin No. 219 – September-October 2018 Article 1

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Rue de la Banque No. 70

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Latest publications

Economic and financial publications Working Paper Series

Monetary Rules, Determinacy and Limited Enforcement

  • Published on 11/21/2018
  • 48 pages
  • en
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Economic and financial publications Working Paper Series

Taxation of Savings and Portfolio Choices of French Households

  • Published on 11/20/2018
  • 16 pages
  • fr
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Economic and financial publications The Fiduciary Letter

May 2018

  • Published on 11/19/2018
  • 6 pages
  • en
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Highlighted publications

Financial Stability Review

Financial Stability Review N°22, April 2018

The 22nd edition of the Banque de France’s Financial Stability Review is entitled “Non-bank finance: trends and challenges”.

Rue de la Banque

Rue de la Banque No. 70, October 2018

As intermediate inputs account for two-thirds of world trade, understanding the mechanisms driving this specific component of global trade and their implications in terms of welfare is crucial. The authors show that micro-data for foreign input spending patterns at the firm-level is key to quantifying the welfare consequence of input trade, as trade in intermediates allows firms to reduce their costs of production thereby benefiting the aggregate economy. In an application of this methodology to the French economy, it appears that the gains from input trade at the firm level are highly skewed: while the median French importer would see its unit costs increase by 11.2% if it lost access to international input markets, the 10% most affected firms would experience unit cost increases larger than 85%. Overall, input trade reduces the prices of manufacturing products by 27% and the aggregate price index by 9%.

By Joaquin BLAUM, Claire LELARGE, Michael PETERS

Rapport annuel
Banque de France Annual Report

Banque de France Annual Report 2017

François Villeroy de Galhau presented the Banque de France’s Annual Report to the press on 12 March 2018

 

Banque de France Bulletin

Banque de France Bulletin No. 219 – September-October 2018 Article 1

Non-resident holdings of French CAC 40 shares at end-2017

évaluation des risques du système financier français
Assessment of Risks to the French Financial System

June 2018 - Assessment of risks to the French financial system

The following report seeks to identify the risks and vulnerabilities present in the French financial system along with the system’s strengths and sources of resilience. This analysis is used in particular to inform the deliberations of the Banque de France’s governing authorities and of the HCSF. It seeks to provide support for proposals on macroprudential policy made by the governor of the Banque de France to the HCSF and, where appplicable, to assess the impact of these prudential proposals or measures on financial stability.