Introduction

The over-collateralization ratio of sociétés de crédit foncier is calculated as the relation between the total amount of assets and privileged debt. This ratio must be at least 102%. See articles L.515-20 et R.515-7-2

Dexia Municipal Agency has committed to maintain this ratio at a level equal to or higher than 105%. This ratio is calculated on the basis of instruction 2011-I-06 and CRBF standard 99-10.

Relevant legislation

Legislative texts

• Article L.515-20: Over-collateralization ratio

Regulatory texts

• Article R.515-7-2: Legal minimum ratio.

See instruction 2011-I-06: Calculation of the coverage ratio.

CRBF standard 99-10