The entire cash cycle is changing: its participants - the Banque de France, banks, cash-in-transit firms, retailers – are collectively implementing ambitious plans to modernise and streamline the cash supply chain, under the guidance of the Banque de France.
As part of its task to guarantee the quality of currency in circulation, the Banque de France steers and oversees all activities relating to the maintenance and recycling of coins and banknotes
The Banque de France organises ad-hoc working groups with representatives of commercial banks and cash-in-transit firms in order to deal with specific issues relating to cash activities. As part of the industry modernisation, the Bank has also organised workshops to allow its partners to express their needs and ensure that their time and budget constraints are taken into account.
Changes to the structure and regulation of the cash industry are regularly discussed within the French Committee on the Standardisation and Organisation of the Banking Industry (CFONB), by a working group run jointly by the Banque de France and a representative of the banking industry.
Lastly, a high-level group – the Cash Industry Steering Committee (CP2F) – was set up in 2014, chaired by the Banque de France’s Directorate General Services to the Economy and Branch Network Activities, and with the participation of the French Banking Federation, Fedesfi, USP Valeurs, the French Treasury, the heads of means of payment activities from the main banking networks, and managers of cash-in-transit firms. The committee meets twice a year, alongside a Cash Industry Monitoring Committee (CS2F), to examine projects underway and build a shared vision of the future.
Created in September 2018 under the aegis of the Ministry of the Economy and Finance and the Banque de France, a working Group comprising representatives of the French cash industry established an overview of access to cash in metropolitan France at end-2018.
The report published on 23 July 2019 confirms overall an easy access to cash, thanks to a network of almost 53,000 ATMs and over 23,000 cash dispensers, for example in stores or tobacconists.
The Banque de France is responsible for monitoring all cash sorting and recycling activities carried out by private operators
Updated on: 10/21/2019 09:35