The activities of credit institutions generate risks which could jeopardise the stability of the economic and financial system. Most countries have therefore imposed specific regulations on institutions dealing in money. These regulations supplement ordinary law provisions and their application is subject to appropriate controls. All countries with sophisticated banking systems pursue similar objectives in the field of banking supervision. Nevertheless differences do exist in the institutional framework, both in the structure of banking systems and the organisation of controls. Notwithstanding these differences, the prudential rules and supervisory methods used are increasingly analogous, due to the growing trend towards international harmonisation within the framework of the European Union and of the Basel Committee.

In France, the first Banking Act dates back to 13 June 1941. Among other things, it set up a Banking Supervision Commission (Commission de contrôle des banques) "charged with ensuring observance of the rules of the banking profession". The Act of 13 June 1941 was repealed by Act 84-46 of 24 January 1984 relating to the activity and control of credit institutions. The latter Act brought about a profound overhaul of the legal framework of the banking system. The Act set up notably a banking commission, the Commission Bancaire, which replaced the Banking Supervision Commission. The Act of 24 January 1984 has been extensively amended. The Financial Activity Modernisation Act of 2 July 1996, in particular, extended the remit of the Commission Bancaire to investment firms. More recently, the Act of 25 June 1999 relating to savings and financial security, has increased the Commission's powers.

Since January the 1st 2001, the texts concerning the Commission Bancaire are included in the Monetary and Financial Code (articles L. 613-1 and following), as amended by the Financial Security Bill of 1 August 2003.

Notice n° 132
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