Presentation of the latest ACPR activity report

On the occasion of the presentation of the activity report of the Authority for Prudential Control and Resolution (ACPR) for 2021, Mr. Villeroy de Galhau, Governor of the Banque de France, gave an overview of the difficulties of the companies, more than 2 years after the onset of the health crisis.

The wave of bankruptcies that some fear does not take place. At the end of April 2022, the number of year-over-year defaults remained almost 43% lower than in April 2019. Good news for the repayment of state-guaranteed loans (PGE), which requires more than 95% in time and time. Half of the PGEs granted in 2020 will begin to be repaid in 2021, with repayments of the other half beginning in April 2022. The mediation of the loan, according to the Banque de France, is very small. requests for restructuring requests relating to EMPs (less than 200 files out of 700,000 PGE in total …).

According to the BDF governor, France has the strongest banking and insurance sector in the eurozone. In particular, he estimates that interest rates, which have been exceptionally accommodating for borrowers since 2015, will remain favorable and highly bearable for the economy as a whole, given historical norms. This favorable economic context seems to be confirmed by the latest statistics presented by the National Council of Judicial Administrators and Judicial Officers (CNAJMJ).

149 billion PGE

It is now possible to take a step back on the PGE device. According to the latest figures published by the Minister of Economy, as of March 31, 2022, PGE 791,717 have been agreed, of which 95% of SMEs. Now, in the second quarter of 2022, only 500,600 PGEs are agreements per week. It can be estimated that by June 15, the PGE 800,000 mark could be crossed, for a total of about 149 billion, with a default rate of less than 3.1%.

More collective proceedings, but still below their historical level

Anne

2021

2022

Backup

775

319

Crisis exit procedure

15

17

Judicial redress

6586

3251

Judicial liquidation

20162

9607

Total

27526

13237

The women of the CNAJMJ indicate that the opening of class actions is up 51% for the month of April 2022 compared to April 2021. 2022 compared to 2021.

However, these opening figures remain much lower than their historical level: thus, the opening of class actions was 4,002 in April 2018 and 4,127 in April 2019, compared to 2,969 in April 2022, a decrease, respectively. , 25.8% compared to 2018 and 28.1% compared to 2019. Finally, we note that in 2021, almost 90% of direct judicial liquidations were without assets, without activity and without salary …

Anne

2021

2022

Ad hoc mandate

3730

1395

Conciliation

1840

651

Total

5570

2046

In contrast, the opening of mandate and conciliation procedures is down in April 2022 compared to April 2021 (-5.7%).

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