The Group’s parent company, Dexia SA, is a public limited company and a financial holding governed by Belgian law. As a significant bank for the Eurozone financial system, it is placed since 04 November 2014 under the direct supervision of the European Central Bank, with the support of the National Bank of Belgium.Dexia Crédit Local is the Group’s main operational entity and issuer. Disposing of a banking license, this entity based in France, falls under the direct supervision of the European Central Bank, with the support of the French banking supervisory authority (ACPR). Historically a leader in public finance providing banking and other financial services to governments and local authorities in nearly 30 countries around the world, the acute liquidity crisis forced Dexia to launch a restructuring process at the end of 2008. This restructuring plan, implemented with State aid, aimed at refocusing the Group on its core activities, reducing its risk profile and enhancing its balance sheet structure.Despite significant progress made in reducing the financial imbalances, the European sovereign debt crisis in 2011 had a major impact on Dexia SA. To avoid the systemic risk of a disorderly liquidation of the Group, an “orderly resolution plan” was implemented with State support in October 2011.The orderly resolution plan, approved by the European Commission on 28 December 2012, calls for the disposal of the saleable commercial franchises and the management in run-off of the residual assets.To allow for the orderly resolution of Dexia SA, State support has been provided to the Group via a capital increase of Dexia SA of EUR 5.5 billion subscribed by the Belgian and French States who hold resp. 52.78% and 46.81%) States and via a liquidity State guarantee of EUR 85 billion granted by the States of Belgium, France and Luxembourg.
|Bank Name||Dexia Public finance company|
|Chairman||Robert de Metz|