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Banque de France Bulletin

The Banque de France Bulletin covers a range of subjects monitored, handled or studied by central banks. It serves as an information tool for a broad readership and offers educational insights so that all readers can form their own opinions.
As of the March-April 2018 edition, the articles will be published on a staggered basis and then translated into English.

Previously, the Quarterly Selection of Articles was published every three months and included a selection of articles that had already appeared in French.

As of the May-June 2019 issue, the Banque de France Bulletin includes an "Economic Research" section. In this section, Banque de France researchers present their views on a subject, condensed into a few non-technical pages, with charts and a bibliography for further reading.


Publication Banque de France Bulletin n°244 : article 2
Debt-for-nature swaps: a two-fold solution for environmental and debt sustainability in developing countries?

Environmental degradation (such as climate change and biodiversity loss) and the increasing difficulty of many low and middle income countries to repay their public debt are now widely recognised as two sources of risk to the stability of the...

By Paul Quentin, Weber Pierre-François, Svartzman Romain
Thematic: Economy and international financing
  • Published on 02/24/2023
  • 12 pages
  • EN
  • PDF (415.52 KB)


Publication Banque de France Bulletin n°243 : article 7
After two years of health crisis, French companies were still resilient at the end of 2021

After the shock of the health crisis in 2020, the performance of French companies clearly improved in 2021: activity picked up, cash balances strengthened, profitability increased, debt remained under control, and companies’ repayment capacity was...

Thematic: Companies
  • Published on 02/17/2023
  • 15 pages
  • EN
  • PDF (498.7 KB)


Publication Banque de France Bulletin n°243 : article 6
The financial situation of the major groups recovered in 2021, after the shock of the health crisis

After the public support measures introduced in France in 2020, the activity of the major groups was particularly strong in 2021, driven by a strong global recovery. Thanks to this recovery, the earnings of all their affiliates were very robust. On a...

By Gonzalez Olivier, Rieu Anne-Marie
Thematic: Companies
  • Published on 01/25/2023
  • 14 pages
  • EN
  • PDF (492.33 KB)


Publication Banque de France Bulletin n°243 : article 5
Access to cash remains first-rate in France

Structurally, access to cash in metropolitan France is very satisfactory. There has been a modest reduction in the number of bank managed automated teller machines (ATMs) since 2018 but this streamlining of cash facilities has not compromised...

By Devigne Lucas, Laplace Emmanuelle, Olivieri-Battestini Jean-Toussaint, De Pastor Raymond
Thematic: Means of payment and currency in circulation
  • Published on 01/23/2023
  • 9 pages
  • EN
  • PDF (377.74 KB)


Publication Banque de France Bulletin n°243 : article 2
Rise in interest rates: European companies will not be affected at the same pace

Corporate debt generates a cost linked to the payment of interest. This cost varies according to the level of market interest rates, all the more rapidly as the debt is at a variable rate or has a short maturity. Non-financial corporations based in...

By Maxime Gueuder, Sébastien Ray
Thematic: Credit and financing
  • Published on 01/06/2023
  • 12 pages
  • EN
  • PDF (399.8 KB)