The Banque de France’s system of governance reflects its independence from the political authorities. It is managed by a Governor - currently Emmanuel Moulin since 2 June 2026 – who presides over the Bank’s General Council, the body responsible for deliberating on all matters relating to non-Eurosystem activities. The Governor is also a member of the ECB Governing Council, the body responsible for determining the Eurosystem’s monetary policy. Responsibility for the operational management of the Banque de France falls to the Executive Committee.
Executive bodies
The Banque de France is managed by its Governor and by two Deputy Governors. The Governor chairs the General Council and prepares and implements its decisions. Alongside the Deputy Governors, he is appointed by decree by the Council of Ministers for a six-year term, renewable once. The Governor is also Chair of the Autorité de Contrôle Prudentiel et de Résolution (ACPR – Prudential Supervision and Resolution Authority), the Observatoire de la Sécurité des Moyens de Paiement (Observatory for the Security of Payment Means), and the Observatoire de l’Inclusion Bancaire (Observatory for Banking Inclusion). He is a member of the Haut Conseil de Stabilité Financière (HCSF – High Council for Financial Stability) and, since 12 January 2022, has been Chair of the Bank for International Settlements (BIS).
Denis Beau was appointed Deputy Governor of the Banque de France on 1 August 2017, and was reappointed First Deputy Governor on 12 January 2024.
In this capacity, he was appointed by the Governor of the Banque de France to represent him as Chairman of the Autorité de contrôle prudentiel et de résolution (ACPR) and, with effect from 17 January 2024, he was appointed Chairman of the Observatory for the Security of Payment Means. He is also a member of the Board of the AMF and of the Supervisory Board of the European Central Bank (ECB). Since 1 January 2023, Denis Beau has been Chair of the ECB's Budget Committee (BUCOM). He has also been co-chair of the Committee on Payments and Market Infrastructures and International Organization of Securities Commissions Steering Group (CPMI-IOSCO SG) of the Bank for International Settlements since August 2025, and co-chair of the Working Group Modernisation (WGM) of the Financial Stability Board (FSB) since 20 March 2026.
His tasks as Deputy Governor include in particular the Banque de France's micro-prudential activities, the cash industry, innovation, the Bank’s branch network activities and the internal management of the institution.
After graduationg from the Institut d'Études Politiques de Paris and receiving an MBA from INSEAD, he joined the Banque de France in 1986 as a financial analyst in the Corporate Balance Sheet Department.
Between 1993 and 2007, he held management positions in the Financial Markets Directorate and the Payments and Market Infrastructures Directorate. He was also seconded for a year as Banque de France representative at the Federal Reserve Bank of New York.
He then served as Secretary of the Committee on Payment and Settlement Systems of the G10 central banks before returning to the Banque de France in mid-2008 as Deputy to take up the position of Deputy Director General of economics and International Relations.
In 2011, he was appointed Deputy Director General of Financial Stability and Operations (DGSO), which carries out activities that contribute in particular to the Bank's monetary strategy and financial stability missions.
Between 2012 and 2017, he was Director General of the DGSO. In this capacity, he chaired the National Cashless Payments Committee and represented the Banque de France on European and international fora dealing with prudential regulation of the banking sector, financial stability and monetary policy (Basel Committee on Banking Supervision, Committee on the Global Financial System, Euro Retail Payments Board).
Agnès Bénassy-Quéré is Second Deputy Governor at the Banque de France, on leave from the Université Paris 1 Panthéon-Sorbonne and the Paris School of Economics, where she is Professor of Economics.
Before joining the Banque de France, she was Chief Economist at the French Treasury (2020-2023). From 2012 to 2017, she was Deputy Chairman of the Conseil d'analyse économique. She was previously Director of CEPII (2006-2012), and has held academic positions at the universities of Paris-Nanterre, Lille and Cergy-Pontoise, as well as at the École Polytechnique.
She has been a member of the Haut Conseil de Stabilité Financière, the Conseil général de la Banque de France, the Conseil des prélèvements obligatoires, the Conseil national de productivité and the Conseil d'analyse économique franco-allemand.
She was also a non-resident researcher at Bruegel and head of the CEPR's research network on European economic architecture. Her research focuses mainly on the international monetary system and macroeconomic policy in Europe.
The General Secretariat is made up of the Resources and Support Functions Directorate, the Finance Directorate, the Procurement Directorate, the Property and General Services Directorate, the Security Directorate, the Legal Affairs Directorate, the Press and Communications Directorate, the Strategy Directorate and the CSR and SD Unit.
Claude Piot is Secretary General of the Banque de France.
He was born in 1965 and is a graduate of Sciences Po Paris. He joined the Banque de France in 1990 and has held various senior positions in the branch network (Evreux, Nanterre, Paris) and at the head office in Paris (banking supervisor, Companies Director, Deputy Director General Human Resources and Deputy Director General Services to the Economy and Branch Network Activities). He has also represented the Banque de France in several European working groups (Committee of Central Balance Sheet Data Offices, company analysis methodology).
Claude Piot has coordinated a number of transformations at the Banque de France (reform of staff regulations, integration of climate risks into company analyses and, currently, the modernisation of the branch network premises).
Deputy
Bertrand Peyret
Deputy Secretary General
Bertrand Peyret
Deputy Secretary General
The Directorate General Financial Stability and Operations consists of the Operations Risk and Compliance Directorate, the Markets Directorate, the Monetary Policy Implementation Directorate, the European Market Infrastructures Directorate, the Innovation and Financial Market Infrastructures Directorate, the Banking Services Directorate and the Financial Stability Directorate.
Director General
Ivan Odonnat
Director General Financial Stability and Operations
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Ivan Odonnat
Director General Financial Stability and Operations
Deputy Director General Financial Stability and Operations
Elie Lewi
Deputy Director General Financial Stability and Operations
Philippe Mongars
Deputy Director General Financial Stability and Operations
Philippe Mongars
Deputy Director General Financial Stability and Operations
The Directorate General Services to the Economy and Branch Network Activities is made up of the Branch Network Directorate, the Companies Directorate, the Consumer Affairs Directorate, the Services to the Economy – IT Development Directorate, and the Financial Education Directorate.
Director General
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Hervé Gonsard
Director General Services to the Economy and Branch Network Activities
Director General Services to the Economy and Branch Network Activities
Hervé Gonsard is a graduate of Sciences Po Paris and holds a DESS degree from Paris IX Dauphine University. He joined the Banque de France in 1991, working initially in the Nancy branch and then at the General Secretariat of the Banking Commission. In 1998 he was appointed Banque de France financial attaché and representative at the French Embassy in Japan.
On his return in 2001, he became Deputy Head of the Franc Zone Division, then career manager for senior staff in the Directorate General Human Resources.
He was subsequently appointed Chief of Staff in the Governor’s Private Office, a position that he held for Christian Noyer’s two terms of office, from 2003 to 2015.
In October 2015 he was appointed Director General of the Institut d'Émission des Départements d'Outre-mer and the Institut d'Émission d'Outre-mer (IEDOM-IEOM). On 1 January 2017 he became the first Chairman of the IEDOM after it was transformed into a wholly-owned subsidiary of the Banque de France.
In April 2017, he was appointed Director General Human Resources by the Governor, François Villeroy de Galhau.
Since September 2022, he has been Director General Services to the Economy and Branch Network Activities.
Hervé Gonsard has taught at Paris III Sorbonne-Nouvelle University, Paris IX Dauphine University and Sciences Po Strasbourg.
He is a Chevalier of the National Order of Merit and a Chevalier of the Legion of Honour.
Deputy
Hassiba Kaabeche
Deputy Director General Services to the Economy and Branch Network Activities
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Hassiba Kaabeche
Deputy Director General Services to the Economy and Branch Network Activities
The Directorate General Statistics, Economics and International comprises the Business IT and Resources Directorate, the Balance of Payments Directorate, the Monetary and Financial Statistics Directorate, the Macroeconomic Analysis and Forecasting Directorate, the Economic Affairs and International Cooperation Directorate, the Monetary and Financial Analysis Directorate, the European and Multilateral Policies Directorate, the Research Directorate and the Business Surveys, Microeconomic and Structural Analysis Directorate.
Director General
Xavier Debrun
Director General Statistics, Economics and International
ACPR, BUD-2770 DEAR, 4 Place de Budapest, 75009 Paris
Academic Publications
Articles
Managing climate change risks: The role of governance and scenario analysis, Journal of Risk Management in Financial Institutions Vol. 15, 1 38–50 · Mar 1, 2022.
Quel avenir pour l’assurance-vie en France ? with A.-L. Bontemps-Chanel and M. Ouriemchi, Revue d'économie financière 2021/2 (N° 142), pages 253 à 270, 2021.
Prise de conscience du risque climatique et de sa dimension systémique. Annales des Mines, Responsabilité & Environnement, N° 102 - Avril 2021
Évaluer les risques et les vulnérabilités et sensibiliser les acteurs financiers au risque de changement climatique: le rôle des stress tests , Revue d’économie financière, N°138, 2020/2.
Les néobanques vont-elles bouleverser leur secteur d’activité ?, with Arthur Moraglia & Sylvain Peyron Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 165-180, 2019.
Finance et Croissance, with J. Couppey-Soubeyran, introduction to Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 9-18, 2017.
Les monnaies digitales sont-elles « disruptives » pour les banques centrales ?, Annales des Mines - RÉALITÉS INDUSTRIELLES – NOVEMBRE, 2017.
Capital Regulation in a Macroeconomic Model with Three Layers of Default, with Derviz, A., Mendicino, C., Moyen, S., Nikolov, K., Stracca, L., Suarez, J. , Vardoulakis, International Journal of Central Banking, vol. 11(3), pages 9-63, June 2015.
Basel III: Long-term Impact on Economic Performance and Fluctuations, with Paolo Angelini, Vasco Cúrdia, Leonardo Gambacorta, Andrea Gerali, Alberto Locarno, Roberto Motto, Werner Roeger, Skander Van den Heuvel, Jan Vlček, Manchester School, University of Manchester, vol. 83(2), pages 217-251, 03, 2015
Penser les politiques macroprudentielles au niveau global, Revue d'économie financière n° 119, p. 141-156, 2015.
Reforming the structures of the EU banking sector. Risks and challenges, with Régis Breton, Banks, Markets and Investors, Volume 135, pp. 37-48, 2014.
(2014). Measuring aggregate risk: Can we robustly identify asset-price boom–bust cycles?, with V. Borgy and J.P. Renne, Journal of Banking & Finance., Elsevier, vol. 46(C), pages 132-150, 2014.
Les banques centrales et la stabilité financière : nouveau rôle, nouveau mandat, nouveau défis ? with René Raymond, Revue d’Économie Financière, n°113, p.193-214, 2014.
« Juste valeur » et « prix de modèle » : une comparaison internationale de la structure des portefeuilles de trading et du ratio « rentabilité», with D. Marteau, Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 305-322, 2014.
La BCE: quel(s) scénario(s) de sortie de crise?, avec Christian Bordes, Revue d'Économie Financière, «les politiques de sortie de crise», n°103, Octobre 2011.
A Two-Pillar DSGE Model for the Euro Area, avec Jean Barthélémy et Magali Marx, Economic Modelling, Elsevier, vol. 28(3), pp. 1303-1316, May 2011.
Financial Stability and Monetary Policy: Lessons from the euro area, avec Benoît Mojon, à paraître dans M. Beblavy, D. Cobham et L. Odor (eds), “The Euro Area and the Financial Crisis,” Chap.14, Cambridge University Press, 2011.
To be or not to be in a monetary union: a synthesis, avec Harris Dellas et Olivier Loisel, Journal of International Economics, 83, pp. 154-167, 2011.
House price boom-bust cycles, avec Vladimir Borgy et Jean-Paul Renne, dans Housing Markets in Europe. A macroeconomic perspective. De Bandt, Knetch, Penalosa et Zollino, éditeurs, Springer, pp. 359-404, 2010.
Le principe de séparation et l’art du central banking de la BCE, avec Christian Bordes, Revue d’Économie Politique, No 120 (2), Mars-Avril, pp. 269-302, 2010.
Les événements extrêmes : nouveaux défis entre sciences et choix collectifs (2008), avec Christian Gollier, Risques, n°76, décembre.
Price Stability and the ECB's Monetary Policy Strategy (2007), avec Christian Bordes, Journal of Economic Surveys, vol. 21, Issue 2, pp. 268-326, Avril.
Monetary Policy in a Changing Environment: a Case for the Signalling Function of Central Banks' Operating Framework (2007), avec Maud Thuaudet, dans Open Market Operations and Financial Markets, D.G. Mayes etd J. Toporowski (Ed.), Routledge, Londres et New York, pp. 86-116.
La BCE, 5 ans de politique monétaire unique (2004), avec Christian Bordes, Les Cahiers Français, n° 319, Mars-Avril, pp. 29-36.
The influence of structural changes on market functioning and it's implications for monetary policy: a focus on the euro area (2002), avec Françoise Drumetz et François Haas, BIS papers N°12, Market Functioning and Central Bank Policy, août.
Others
Financial Stability Board (2022), Supervisory and Regulatory Approaches to Climate-related Risks: Final report, 13 October. Coordination: Laurent Clerc (ACPR) and James Hubb (OSFI)
Une première évaluation de l’impact du Changement Climatique sur les institutions financières : caractéristiques et enseignements de l’exercice pilote de l’ACPR sur le risque physique, dans La prospective au service de l’adaptation au changement climatique, Rapport au Premier ministre et au Parlement de l’Observatoire National sur les Effets du Réchauffement Climatique, La documentation française, February 2022.
Climate-related financial risks – measurement methodologies, Coordination: Laurent Clerc (ACPR) and Paul Hiebert (ECB), Basel Committee on Banking Supervision, April 2021
Les acteurs numériques de la finance : un pas vers la rentabilité ?, with Dufour, T., Harguindeguy, P. and Ungaro, S., Autorité de contrôle prudentiel et de résolution · July 18, 2022.
Interactions of bank capital and liquidity standards within the Basel 3 framework: A literature review, with, Catherine Lubochinsky, Cyril Pouvelle and Amine Tarazi, Documents économiques et financiers - Autorité de Contrôle Prudentiel et de Résolution · Mar 31, 2022
L’exercice pilote climatique de l’ACPR. Revue Banque, N° 850, Novembre 2021
Comment réguler demain la banque-finance ? Problèmes économiques, September 2019.
Towards a Global Real Estate Market? Trends and Evidence in Rob Nijskens, Melanie Lohuis, Paul Hilbers,Willem Heeringa (ed.), Hot Property – The Housing Market in Major Cities, , Chap. 6, Springer, June 2019
Euro Area Financial Market Conditions, in Policy Research Meeting on Financial Markets and Institutions, proceedings, Banca d’Italia, May, 2019.
Politique macroprudentielle: Prévenir le risque systémique et assurer la stabilité financière, préface de Jean Tirole, with Bennani, T., V. Coudert, M. Dujardin and Julien Idier Ed. Pearson ,2017.
Macro-Prudential Policy and the Conduct of Monetary Policy. in Macroeconomic and Financial Stability: challenges for Monetary Policy, with D. Beau, C. Cahn, L. Clerc and B. Mojon, Central Banking, Analysis, and Economic Policies Book Series, in: Sofía Bauducco & Lawrence Christiano & Claudio Raddatz (ed.), edition 1, volume 19, chapter 9, pages 273-314 Central Bank of Chile, 2014
The 3D Model: a Framework to Assess Capital Regulation, with ., Nikolov, K., Derviz, A., Stracca, L., Mendicino, C., Suarez, J., Moyen, S. and Vardoulakis, A Economic Bulletin and Financial Stability Report Articles, Banco de Portugal, Economics and Research Department, 2014.
Assessing contagion risk from the CDS market, ESRB Occasional Paper No. 4– avec Brunnermeier, M., El Omari, Y., Gabrieli, S., Kern, S., Memmel, C., Peltonen, T., Podlich, N., Scheicher, M. et Vuillemey, G., September 2013.
The Directorate General Currency and Retail Payments comprises the Banknote Manufacturing Directorate, the Finance and Management Control Directorate, the Institutional Client Relations Directorate, the Cash and Retail Payments Policy and Oversight Directorate and the Cash Management Directorate.
Erick Lacourrège was born in Bordeaux, France, in 1967.
He holds Master’s degrees in economics and in political science from the University of Bordeaux, and an Executive MBA from ESSEC Business School in Paris.
He joined the Banque de France in 1991 and has held a number of positions: deputy project manager for the Bank’s critical IT recovery plan, head of the branch network projects department, project manager for the adaptation of customer management to the changeover to the euro.
In 2000, he joined the Banque de France’s Directorate General Banknote Manufacturing where he held several positions before being appointed Deputy Director General and Director General in 2014.
On 1 January 2018, he was appointed Director General Services to the Economy and Branch Network Activities.
In 2023, he became Director General Currency and Retail Payments following the merger of the Bank’s banknote manufacturing activities with the management of currency in circulation and supervision of retail and digital payments. He is also responsible for managing the Bank’s gold reserves. The new Directorate General Currency and Retail Payments was created to unify the management and supervision of all payment-related issues. In parallel, Erick Lacourrège was appointed Chair of the National Payments Committee, which brings together all participants in the French payments ecosystem. He is also Chair of Europafi, a subsidiary of the Banque de France and several other Eurosystem central banks that specialises in the manufacture of banknote paper.
Erick Lacourrège is a member of the Banque de France’s Executive Committee.
He is also a member of the European Central Bank’s High-Level Task Force on the digital euro and of its Banknote Committee (BANCO). He is Chair of the Executive Committee of the Central Bank Counterfeit Deterrence Group (CBCDG), a G10 organisation that protects its 35 member countries against banknote counterfeiting.
Deputies
Stéphanie Lange
Deputy Director General Currency and Retail Payments
Stéphanie Lange
Deputy Director General Currency and Retail Payments
Pierre-Yves Boissinot
Deputy Director General Currency and Retail Payments
Pierre-Yves Boissinot
Deputy Director General Currency and Retail Payments
The ACPR or Prudential Supervision and Resolution Authority is made up of the 1st Insurance Supervision Directorate, the 2nd Insurance Supervision Directorate, the Cross-Functional and Specialised Supervision Directorate, the 1st Banking Supervision Directorate, the 2nd Banking Supervision Directorate, the Delegation Charged with the On-site Supervision of Credit Institutions and Investment Firms, the Authorisation Directorate, the Legal Affairs Directorate, the Supervision of Businesss Practices Directorate, the International Affairs Directorate, the Research and Risk Analysis Directorate, the Quality and Management Directorare, the Human Resources and Support Functions Directorate, and the Resolution Directorate.
Emmanuelle Assouan has been Secretary General at the Prudential Supervision and Resolution Authority (ACPR) since January 2026. She also chairs the Banque de France Climate Change Centre.
She has previously held several positions relating to financial stability, payments and market infrastructures, the management of the Banque de France’s foreign exchange reserves, monetary policy implementation and banking supervision.
Born in 1973, she is a graduate of Sciences Po Paris and joined the Banque de France in 1997.
Deputies
Évelyne Massé
First Deputy Secretary General
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Évelyne Massé
First Deputy Secretary General
François Haas
Deputy Secretary General
François Haas
Deputy Secretary General
Frédéric Hervo
ACPR Deputy Secretary General
Frédéric Hervo
ACPR Deputy Secretary General
Grégoire Vuarlot
ACPR Deputy Secretary General
Grégoire Vuarlot
ACPR Deputy Secretary General
The Directorate General Information System is made up of the Data and Analytical Services Directorate, the Services to the Economy and General Resources Information System Directorate, the Common Services Directorate, the Statistics, Supervision, Payments and Operations Information System Directorate, and the IT Operations and Cyber Resilience Directorate.
The Directorate General Human Resources comprises the Industrial Relations Directorate, the Recruitment and Careers Directorate, the Personnel Administration Directorate and the Training and University Directorate.
Anne-Sophie Martenot joined the Banque de France via the management entrance exam in 1998. She went on to hold various positions, notably in corporate financial analysis, banking supervision and market back office operations, reflecting the broad range of functions carried out by the Bank.
She subsequently joined the Directorate General Operations, before being appointed Director of Human Resources at the Autorité de contrôle prudential et de résolution (ACPR – Prudential Supervision and Resolution Authority). She then spent two years as Deputy Director General Statistics, Economics and International.
Thanks to these operational roles, she has built up strong managerial skills, combined with a keen interest in guiding staff in their career progression and developing their skills.
In 2022, Anne-Sophie Martenot was appointed Director General Human Resources at the Banque de France. She oversees a broad range of activities, including recruitment, career management, training, labour relations and staff administration. She is committed to helping the directorates carry out their missions, in an environment of trust and mutual exchange.
Anne-Sophie Martenot has been closely involved in developing and implementing the Banque de France’s Wellbeing in the Workplace programme, which aims to improve the quality of life at work. She is also continuing collective efforts to transform the institution, with the help of all managers and staff.
Anne-Sophie Martenot is a member of the Association for Progress in Management (APM).
Deputy
Isabelle Thouzery
Deputy Director General Human Resources
Isabelle Thouzery
Deputy Director General Human Resources
Carine Jupin
Deputy Director General Human Resources
Carine Jupin
Deputy Director General Human Resources
The General Control is made up of the General Inspectorate, the Head Office Audit, the Branch Network Audit, the Delegation Charged with the On-site Inspection of Credit Institutions and Investment Firms at the ACPR, and the Risk Prevention Directorate.
(1) The Governor chairs the Observatory for the Security of Payment Means, the Observatory for Regulated Savings and the Observatory for Banking Inclusion.
(1) The Governor chairs the Observatory for the Security of Payment Means, the Observatory for Regulated Savings and the Observatory for Banking Inclusion.
(1) The Governor chairs the Observatory for the Security of Payment Means, the Observatory for Regulated Savings and the Observatory for Banking Inclusion.
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The Executive Committee is in charge of the Banque de France's operational governance. It is chaired by the Governor and composed of the Deputy Governors and the Directors General. The Chair of the Institut d’Émission des Départements d’Outremer (IEDOM – Delegated central bank for the French overseas departments and territories) and of the Institut d’Émission d’Outremer (IEOM – the French overseas note-issuing bank) is also a member. The Executive Committee’s secretarial functions are carried out by the Strategy Directorate.
The General Council
The General Council performs the main functions of a board of directors. It deliberates on issues relating to the management of activities that are not within the remit of the ESCB.
Members
Emmanuel Moulin, Governor, chairman of the General Council
Denis Beau, deputy governor
Agnès Bénassy-Quéré, second deputy governor
Anne-Laure Delatte
Catherine Barthélemy
Gilles Savary
Élizabeth Ducottet
Jean-Roger Davin
Benoît Besson, staff-elected representative
Jean-Paul Faugère, vice-chairman of the ACPR
Elisabeth de Longevialle
Censor
Christophe Bories
Censor
Pierre Allegret
The Audit Committee
The Audit Committee reports to the General Council on issues related to financial reporting, external and internal auditing, internal control and risk management.
The Compensation Committee
The Compensation Committee examines whether the remuneration of the Governor and Deputy Governors complies with the relevant provisions of the Monetary and Financial Code.
The Banque de France branch network is organised into 13 regional directorates. It currently comprises 95 departmental branches, which include the 13 regional directorates and ten economic centres. Services related to currency management are carried out at 20 of these establishments and at three specialised centres.
The Network Executive Committee is made up of the regional branch managers, the directors of the network business lines (consumer affairs, companies and financial education), the Director of the Branch Network, the Director of IT Development and the Head of the Governor’s Office. The Committee reports directly to the Director General of Services to the Economy and Branch Network Activities, and is responsible for the network’s strategic management.
Operational management bodies
Three bodies play a central role in the conduct of investment policies and market operations: the Assets-Liabilities Committee, the Risk Committee and the Pension Plan Strategic Committee or CS2R.
The Assets-Liabilities Committee, which is chaired by the Governor, examines the Bank’s investment strategy for all its portfolios (both euro and foreign currency denominated), with the exception of the Employee Reserve Fund investment portfolios. The latter are monitored by the CS2R, which was set up in April 2018 and is chaired by the First Deputy Governor. The Risk Committee, which is chaired by the Second Deputy Governor, defines the risk framework applicable to all market operations conducted for the Bank’s portfolios.
Operational risk management and the Internal Audit
Risk management
In line with the model proposed by the Committee of Sponsoring Organizations of the Treadway Commission, the Banque de France has implemented a three-pronged internal control system, comprised of operational staff and their managers, professional risk management and permanent control officers, and the Internal Audit. The system assesses all operational risks as well as the methods and action plans in place to mitigate them, and checks that existing controls are relevant and efficient, using industry best practices as a benchmark.
The Internal Audit
The Internal Audit is managed by the Comptroller General and is the Banque de France’s third line of control. It has responsibility over all the Bank’s units, processes and activities, including over its subsidiaries.
The Internal Audit conducts its inspections using mainly a risk-based approach, and reports its findings to the Audit Committee, the Bank’s governance bodies and the Directors General. In doing so, it provides independent and objective assurance of:
the achievement of the Bank's strategic objectives;
the integrity and reliability of all financial and operational information;
the effectiveness and efficiency of all operations;
the protection of the Bank’s assets, image and reputation;
compliance with all laws, regulations, procedures, contracts and compliance rules (see Focus on Ethics and compliance).
The Internal Audit also operates within the framework of the ESCB. The Comptroller General and the Head Office Audit are permanent members of the ESCB Internal Auditors Committee (IAC). Together with their counterparts at the other national central banks and the ECB, they draw up the Eurosystem’s audit programme and oversee audits conducted under the aegis of the IAC.
With regard to both the organisation and the conduct of audit missions, the Banque de France's Internal Audit complies with the “international standards for the professional practice of internal auditing” as defined by the Institute of Internal Auditors (IIA).
In 2022, the Internal Audit carried out nearly 80 inspections and investigations, focusing primarily on the steering of the Bank’s activities, its organisational efficiency, the security of its information systems and the management of projects.
Bank locations
Map - Bank locations
The Banque de France’s representative office in New York:
Chief Representative for the Americas: Florence Screve-Szeles
Contact: nyoffice@banque-france.fr
The Banque de France’s representative office in Singapore:
Chief Representative for the ASEAN and Pacific region: Stéphane Latouche
Contact: singapore@banque-france.fr
Both offices have trading rooms that work closely with the main trading floor located in Paris.
The Banque de France also has representatives working in the Economic Service of France’s embassies.
At mid of 2022, these representatives were posted in :
Athens
Beijing
Brasilia
Mexico
Nairobi
New Delhi
Rabat
Tokyo
Warsaw
Updated on the 5th of June 2026
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