Money and Banking: Banking System Overview

Central Bank

 The central bank of France is known as the Bank of France or Banque de France. It is responsible for implementing the monetary policy of the European Union and managing the country's currency reserves.

Regulated by: Banque de France

Services typically offered by the central bank include:

• Maintaining price and financial stability
• Managing foreign reserves
• Issuing currency
• Promoting payment system efficiency

Examples: Banque de France

Commercial Banks

 Commercial banks are the most common type of banks in France, offering a wide range of banking services to individuals, businesses, and government entities.

Regulated by: Banque de France

Services typically offered by commercial banks include:

• Deposit accounts
• Loans
• Mortgages
• Credit cards
• Financial advisory and investment services

Examples: BNP Paribas, Societe Generale, Credit Agricole

Investment Banks

Investment banks in France focus on providing financial services to corporations, governments, and other large institutions. They assist in mergers and acquisitions, underwriting securities, and advising on various financial transactions. 

Regulated by: Banque de France

Services typically offered by investment banks include:

• Underwriting
• Mergers and acquisitions
• Financial advisory services

Examples: BNP Paribas Corporate and Investment Banking, Societe Generale Corporate and Investment Banking, Natixis

Retail Banks

Retail banks in France focus on providing financial services to individuals, such as checking and savings accounts, personal loans, and credit cards.

Regulated by: Banque de France

Services typically offered by retail banks include:

• Checking accounts
• Savings accounts
• Loans

Examples: BNP Paribas, Societe Generale, Credit Agricole

Foreign Banks

Several foreign banks operate in France, including banks from other European Union countries and non-EU countries.

Regulated by: Banque de France

Services typically offered by foreign banks include:

• Cross-border banking services

Examples: HSBC France, Deutsche Bank France, Citibank France

Credit Unions

Credit unions in France are known as caisses de crédit municipal or "monts de piété." They primarily provide loans to individuals and small businesses using collateral such as jewelry or other valuables.

Regulated by: Banque de France

Services typically offered by credit unions include:

• Savings accounts
• Checking accounts
• Loans

Examples: Credit Mutuel, Banque Populaire, Caisse d'Epargne

Savings and Loan Associations

Savings and loan associations in France are known as caisses d'épargne. They focus on providing savings accounts, mortgages, and other financial services to individuals.

Regulated by: Banque de France

Services typically offered by savings and loan associations include:

• Savings accounts
• Mortgage loans

Examples: Credit Foncier de France, Societe de Financement de l'Economie Francaise

Online Banking

Online banking has become increasingly popular in France, with many traditional banks offering online banking services and several online-only banks operating in the country.

Regulated by: Banque de France

Services typically offered by online banking include:

• Account management
• Bill payments
• Money transfers
• Investment services

Examples: Offered by most commercial and retail banks in France

Other Financial Institutions

Other financial institutions in France include insurance companies, asset management firms, and pension funds.

Regulated by: Banque de France

Services typically offered by other financial institutions include:

• Deposit services
• Loan services
• Insurance

Examples: France Active, Adie, AXA, Groupama, Generali

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