Local governments

Local governments

  • Local governments

SFIL, a wholly publicly-owned bank to:

  • provide a sustainable solution to the reduction in long-term financing offered to local governments and public hospitals
  • secure access to long-term financing for the sector
  • develop, for the French market, a simple, transparent and accessible commercial offering at the market price
  • provide an active sensitivity reduction policy for “sensitive” loans
Download the Half-Year Financial report 2018

Download the Half-Year Financial report 2018

Caisse Française de Financement Local

Caisse
Française de
Financement
Local

Background and Origin of SFIL

1983 2007

DECENTRALIZATION PROCESS
Financial autonomy of the local governments which now finance themselves independently of the French government

DEVELOPMENT OF A LOAN BUSINESS

undertaken by the commercial banks

2008 2010

DEXIA CRÉDIT LOCAL EXITS THE MARKET

Historical financer of the local public sector, with a market share of 40%,

 

The commercial banks take over this market share to only a small extent, due to:
– the impact of Basel III
– the increase in the cost of liquidity
– the absence of side business

2011 2012

THE BANKS’ INSUFFICIENT OFFERING

BOND FINANCING VERY LIMITED

– CDC fills this gap
EUR 5 billion in emergency aid provided per year

-Discussions between the French government and the European Commission with a view to creating a new public bank in charge of this activity

 

2013

CREATION OF SFIL

– 75% owned by the French government, 20% by Caisse des Dépôts and 5% by LBP

– SFIL takes over the balance sheet of DEXMA, renamed CAFFIL

– Scheme fully operational and creation of the financing program by CAFFIL