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Legislative developments in securitisation in France: a detailed history of reforms
By Raphaël MORENON11 August 2025Few financial mechanisms are as markedly dual as securitisation. A powerful financing tool for companies, securitisation has also become synonymous with the 2008 financial crisis. This complex reputation masks a rich legal reality and a constant evolution in French law, which has taken several decades to tame and regulate this technique. Understanding the history of this framework means deciphering how France has gradually built a legal environment for what is now a key instrument in its economy. To navigate through this dense subject, it is often essential to be assisted by a lawyer with expertise in banking and financial law. This article sets out to retrace the major stages in the development of this legislation, a journey that perfectly illustrates the way in which the law adapts to innovations in finance. For an overview of the mechanism, please consult our main page on...
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> The practice of seizing propertyA practical, chronological and exhaustive study of the implementation of a property seizure procedure.
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Dispensing with formal notice: when and how to dispense with it legally
A reminder seems necessary. A formal notice is the act by which a creditor asks his debtor to fulfil his obligation. It marks the starting point for default interest and crystallises the recipient's default. This unilateral legal act challenges and informs the addressee of the creditor's demands....The fundamental tasks of the Banque de France within the ESCB
The Banque de France is no ordinary banking institution. As part of the European System of Central Banks (ESCB), it performs essential functions in our economy. It contributes to price stability and the smooth functioning of financial systems. Let's take a look at its four main tasks. 1. implementing the...Banking ethics rules: between soft law and legal obligations
Today's banks are juggling with different standards. On the one hand, strict laws and regulations. On the other, ethical rules that are sometimes blurred. This grey area between obligation and recommendation is worth exploring to understand how these requirements fit together and what the implications are for customers. IntroductionThe components of the TEG: what is included and excluded
Understanding the components of the Total Effective Rate (TEG) is essential for any borrower. This rate, which is used to compare the real cost of borrowing, includes much more than just interest. Certain costs are systematically included, while others are excluded. These distinctions can have significant financial and legal consequences....Informing borrowers of the TEG: legal obligations and issues
Credit mechanisms are based on a natural imbalance between lender and borrower. The law attempts to correct this asymmetry by imposing strict obligations to provide information, particularly on the Total Effective Rate (TEG). Understanding these obligations protects your rights as a borrower and may, in certain situations, enable you to dispute charges...Penalties for errors or omissions in the TEG: developments in case law
The Total Effective Rate (TEG) is often at the heart of disputes between borrowers and banks. Case law has changed considerably in recent years, altering the balance between protecting borrowers and ensuring the legal certainty of loan contracts. Developments in civil penalties Historically, the courts declared the nullity of the clause...Usury in credit law: understanding and protecting yourself
Any financial transaction can quickly fall into the trap of excessive interest rates. Alongside the TEG (Taux Effectif Global), usury constitutes a legal bulwark against abuse by lenders. But what exactly does this concept mean under French law? When does a rate become usurious? Who can claim usury? Legal definition...Penalties for loansharking: criminal and civil consequences
French legislation strictly regulates the cost of credit. It protects borrowers against excessive rates by means of a comprehensive repressive system, particularly in terms of usury. A loan becomes usurious when its total effective rate (TEG) is more than one-third higher than the average rate charged by credit institutions...The Total Effective Rate (TEG): definition and calculation methods
Credit always costs more than the banks say it will. The nominal interest rate only reflects part of the reality. Hence the existence of the Taux Effectif Global (TEG), the cornerstone of banking transparency. This indicator, often unknown to borrowers, nevertheless plays a decisive role in comparing...Understanding the legal framework for home loans
A house, a flat. For most people in France, buying a property is often the project of a lifetime. It is almost always financed by taking out a bank loan. Given the financial stakes involved and the length of the commitment, the legislator has gradually put in place a series of conditions...
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