Research Handbook on State Aid in the Banking Sector
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Research Handbook on State Aid in the Banking Sector

Edited by François-Charles Laprévote, Joanna Gray and Francesco De Cecco

The Research Handbook on State Aid in the Banking Sector brings together experts in state aid and in financial regulation, drawn from legal academia, legal practice, economics, and from the EU and EEA institutions to shed light on this relationship. The editors and expert contributors do this by elucidating key concepts that underpin the application of state aid law to banks, and by considering specific aspects of the interface between state aid and financial regulation. The Research Handbook's analysis is complemented by a number of key country-based case studies, and by a concluding section which takes stock of the Banking Union’s package of legislative/regulatory reforms and reflects on the possible future role of state aid in this sector.
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Chapter 11: State aid to banks in France

Claire Froitzheim


French banks proved relatively resilient to the crisis. Their diversified model made their losses generally manageable, with the exceptions of Dexia and Crédit Immobilier de France, which ultimately had to be placed in resolution. However, the crisis revealed some of their weaknesses and led to targeted intervention by the State, including financial support schemes – through the creation of the Société de Financement de l’Économie Française and the Société de prise de participation de l’Etat – and individual measures. France also strengthened its oversight framework with the creation of the Autorité de Contrôle prudentiel and of the Conseil de Régulation Financière du Risque Systémique. This set of measures contributed to avoiding any major bankruptcy and maintaining funding to the real economy.

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