Central institution
At the service of Groupe BPCE’s ambition
BPCE, the central institution responsible for both the Caisses d'Epargne and the Banques Populaires, officially come into existence on July 31, 2009. Acting as a veritable governing nucleus, it is responsible for the corporate strategy, control, coordination and management of the Group, and guarantees the solvency of the whole.
Replacing Caisse Nationale des Caisses d'Epargne and Banque Fédérale des Banques Populaires, the new central institution of the Group will take the form of a French joint stock company governed by a Management Board and a Supervisory Board. Its status is that of a credit institution.
At the service of the strategic objectives of the 2nd largest French banking group, BPCE is equally owned by the 17 Caisses d'Epargne and the 19 Banques Populaires.
Missions: continuity and reinforcement
The missions of the Group’s central institution are defined by the French law dated June 18, 2009. They embody the continuity of the cooperative principles underlying the Banques Populaires and the Caisses d'Epargne and place it at the service of the Group with a view to meeting its current and future challenges. The act assigns the following responsibilities to the central institution in its form as a joint stock company:
- Define the policy and strategic objectives of the Group and its networks,
- Coordinate its sales policies
- Represent the Group and its networks in dealings with the regulatory authorities and negotiate, on their behalf, national or international agreements,
- Represent the Group and its networks as an employer,
- Take all measures enabling it to manage the Group in terms of liquidity, solvency, risk management and internal control.
A simplified form of corporate governance
The central institution holds a direct interest of more than 70% in the capital of Natixis.The principal subsidiaries of the local banking institutions and their production centers all belong to the central institution.
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