To enable banknotes to circulate across France in all circumstances, the Banque de France ensures the continuity of its internal cash activity and develops, with other professionals in the cash industry, structures and tools to anticipate and manage a possible cash crisis at the national or European level.
Business continuity in the cash industry
The Banque de France has sole authority to issue banknotes that are legal tender in mainland France. This task is delegated to the IEDOM in the overseas departments and communities whose currency is the euro: Guadeloupe, French Guiana, Martinique, Mayotte, Reunion, Saint Barthélemy, Saint Martin, Saint Pierre and Miquelon, and the French Southern and Antarctic Territories (TAAF).
Responsibility for supplying the public with banknotes and coins, even in times of crisis, therefore falls entirely to the Banque de France, even though the latter does not have control of the entire cash supply chain. For this reason:
Banque de France branches are part of these arrangements. They implement continuity plans.
General crises are managed within the framework of a financial industry resilience system
The Paris Resilience Group was created in 2005 at the initiative of the Banque de France in order to strengthen the operational resilience of the Paris financial centre, by ensuring that the financial system can withstand shocks to its critical functions.
The overall resilience system is designed to prevent operational crises from causing lasting disruption to the financial system, and to coordinate the responses of the main market participants in the event of an incident affecting the functioning of the financial ecosystem.
The Paris Resilience Group is chaired by the Banque de France and comprises the following main stakeholders:
Specific crisis units may also be activated:
The Financial Centre Crisis Unit – Cash is run by the Banque de France and includes representatives of banks, cash-in-transit companies, the retail trade sector, the Ministry of the Economy and the Ministry of the Interior.
The fiduciary aspects of a crisis most often require local monitoring
Monitoring a crisis requires centralised management and a centralised decision-making mechanism. However, due to the specific characteristics of cash activities, which are decentralised and subject to physical constraints, local structures are necessary in order to:
Updated on: 04/09/2021 11:54