#2026-466Extension of Financial and Monetary Code Rules to French Overseas Collectivities and New Caledonia
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This ordinance updates how parts of France’s Monetary and Financial Code apply in several overseas territories, including Saint-Barthélemy, Saint-Pierre-et-Miquelon, French Polynesia, Wallis and Futuna, and New Caledonia. It adapts references so local institutions, currencies, and insolvency procedures fit the legal framework used in each territory. The practical impact is mainly technical. Banks, payment service providers, financial institutions, and enforcement bodies operating in these territories should check that compliance documents and procedures reflect the updated local wording, especially where rules refer to the Banque de France, the CFP franc, payment services, foreign investment controls, and local insolvency procedures.
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Key Changes
- Extends selected Monetary and Financial Code provisions to overseas collectivities and New Caledonia with local adaptations.
- Replaces some references to the Banque de France and euro amounts with references to overseas issuing institutes and CFP francs where relevant.
- Aligns financial rules with local equivalents for insolvency procedures, social and solidarity economy references, payment services enforcement, and foreign investment controls.
Obligations
What this law requires
When applying Article L. 112-14 IV of the Monetary and Financial Code in Saint-Pierre-et-Miquelon and French Polynesia-related Book VII provisions, entities must read references to “La Banque de France” as references to “L’Institut d’émission d’outre-mer” and references to amounts “in euros” as amounts “in CFP francs” where the ordinance so adapts the provision.
Entities applying Article L. 211-10 in the relevant overseas territories must treat references to judicial reorganisation or judicial liquidation procedures as references to the equivalent locally applicable insolvency procedures with the same purpose.
Entities applying Article L. 311-5 in the relevant overseas territories must replace references to Article 1 of Law No. 2014-856 on the social and solidarity economy with references to locally applicable provisions having the same purpose.
For New Caledonia-related application of Articles L. 151-6 and L. 151-7 on foreign investment controls, covered entities must apply the version resulting from Law No. 2024-850 of 25 July 2024 rather than the prior 2019 reference.