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Request for change of status under French law

06/06/2017

AFD made a request to the banking supervisory authorities to change its status under French law from établissement de crédit spécialisé to société de financement. This request is currently pending before the European Central Bank (the "ECB").

Decree no. 2017-582 dated 20 April 2017 and published in the Official Journal on 22 April 2017 modifies, inter alia, the articles (statuts) of AFD by deleting all references to AFD's status as an établissement de crédit in the French Code monétaire et financier. It is expected that the ECB will publish its final decision on the future status of AFD during 2017.

Until any announcement by the ECB is made, AFD will remain an établissement de crédit. Any change in status from an établissement de crédit spécialisé to a société de financement will not affect AFD's status as an EPIC (établissement public industriel et commercial) under French law and its mission and objectives will remain unchanged.

If such a change occurs, the bonds issued by AFD will no longer be eligible as High Quality Liquid Assets under regulation (EU) no. 575/2013 dated 26 June 2013 from the European Parliament and Council, amended by commission delegated regulation (EU) no. 2015/61 dated 10 October 2014.

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