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CIF Euromortgage
Crédit Immobilier de France

Its sole purpose

  • Incorporated as Société de Crédit Foncier (covered bonds issuer) under Article L.513.2 and seq. of France's Monetary and Financial Code, CIF Euromortgage was from 2001 to 2012 the main long term and medium term financing instrument of Crédit Immobilier de France (CIF). Since the CIF's Orderly Resolution Plan, 3CIF remains the sole long term to short term refunding instrument of CIF. Unless exception, CIF Euromortgage will not raise funds anymore through new covered bonds issues.

News

Pursuant to CMF § R.513-3 IV, as of 31 December 2017, SCFs will no longer be permitted to hold securities issued by securitization vehicles in amounts exceeding 10% of the face value of their covered bonds issued and other secured debt.

France's Parliament has passed a law concerning transparency, the fight against corruption, and the modernization of the economy (Sapin II Act). Section 154 of that Act, published on 10 December 2016, offers SCFs recourse to CMF § L.211-38, which allows SCFs to grant loans secured by financial assets transferred as absolute property. In order to comply with the new regulations, CIF Euromortgage is utilizing this possibility. On 15 February 2017 it reorganized its assets, which until recently consisted to a very large extent of senior bonds issued by its captive securitization vehicle ("FCT") CIF Assets.

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News

12 June 2018

Credit Immobilier Group's results

The restructuring of Credit Immobilier de France continues in full compliance with the declared objectives.

22 November 2017

Press release

Fitch plans to withdraw CIF Euromortgage's rating

06 June 2017

2016 Results Show that Crédit Immobilier de France has Taken Up the Challenges

The Group's common equity Tier one ratio at year end 2016 increased and reached 13,8% exceeding the minimum mentioned in the Protocol signed by the Republic of France. Furthermore, at their Meeting held on 31 May, the shareholders voted to renew for another six year period the terms of the Board members (nine out of eleven) that had expired. At the close of the Meeting, the board of the Directors voted to reappoint Yannick Borde as its Chairman, and to reappoint for six year terms Jérôme Lacaille and Thierry Gillouin respectively as Chief Executive Officer and Deputy Chief Executive Officer.

15 February 2017

Press release

On 15 February 2017 the Group dissolved CIF Assets and, accordingly, changed its financing procedure. It now raises funding by having CIF Euromortgage grant secured loans to the Group backed by contractually eligible receivables that have been transferred to it as absolute property, pursuant to CMF § L.211-38.

04 July 2016

Eligibility of covered bonds issued by CIF EUROMORTGAGE

Eligibility of covered bonds issued by CIF EUROMORTGAGE for refinancing from the European central bank system.

General DISCLAIMER

The information published on this website, has been prepared by CIF Euromortgage, for information purpose only and shall not constitute an offer to buy, sell, subscribe, or provide financial services. It should also not be considered as a recommendation or a solicitation for the purchase or sale of Notes or any other financial instrument.

The information contained herein has been obtained from sources believed to be reliable. The views reflected herein are those of CIF Euromortgage and are subject to change without notice. CIF Euromortgage is not however in a position to guarantee that such information is complete or that an outside party, by means of a virus or system intrusion, has not modified it.

Neither CIF Euromortgage, nor any of its directors, officers or employees thereof accepts any responsibility in relation to the use that could be made of it and any direct or consequential loss arising from any use of this publication or its contents.

In this respect, you shall remain solely responsible for the information and results based on this information. You hereby acknowledge the use and interpretation of this information requires specific and in-depth knowledge of financial markets.

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The information published on this website is not directed at individuals or companies, who, due to their nationality, place of registered office, domicile, or others reasons, are governed by laws of a country that forbids them from accessing the websites of foreign financial services providers, or limits their access thereto.

You are requested to ensure that you are legally authorized to access this site in the country from which you are making the Internet connection.

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