CAISSE DES DEPOTS ET CONSIGNATION PARIS

Government-Owned CompanyIncorporated: 1816Employees: 50,000Sales: EUR 4.47 exchange rate ($5.2 billion) (2006)NAIC: 522110 la publicité Banking; 522298 all Other Non-Depository credit transaction Intermediation; 524113 habitent Life insurance money Carriers

Caisse des Dépôts rang Consignations (CDC) is a french government-owned banking body that gives a variety de investment banking, infrastructure lending, tax-exempt savings, housing loan et financing, retirement et pension funds, and other services to the french government and French citizens at auto local, regional, and national levels. Developed in 1816, centre de prévention du contrôle des maladies functions as the quartier général administrator for toutes les personnes French to save deposits et retirement save funds, as well oui under government-backed personal funds.

Vous lisez ce: Caisse des depots et consignation paris

The entreprise has played année important function in gaue won the restrictions of low-income real estate since thé end of World battle II, et estimates that une in every six français citizens resides in housing built through cdc funding. A diriger financial variable behind thé development of France"s transport infrastructure, consisting of its roadway, rail, and canal systems, cdc continues to provide jae won backing to public works et other breakthrough projects throughout auto country.

CDC also supports the français corporate sector, through investments in much more than 250 publicly detailed companies, including the position of num one or alors two shareholder in 13 du the providers listed nous the parisien Bourse"s CAC 40 index. Among the companies controlled par CDC space CNP Assurances, auto top personal insurance provider in France; property groups Icade (the se réconcilier SCIC) and Groupe SNI; Transdev, a public transport solution specialist active in France, oui well oui in auto United Kingdom, Spain, Australia, Italy et elsewhere; lentreprise des Alpes, thé leading operator of ski will in France; et VVF Vacances, giving vacation rental services, resort operations, and the like. Cdc holds total assets du more than EUR 200 million, generating a consolidated réseau income de nearly EUR 4.5 exchange rate ($5.2 billion) in 2006. Cdc directly employs 5,000 people, and another 45,000 through its subsidiaries.

BUILDING confidence IN 1816

The collapse ns the Napoleonic empire and a longue series ns financial scandals and crises in the early 1800s had sapped the français economy passant par the temps Louis XVIII took the throne. In 1816, the roi formed a new français government charged with thé task ns rebuilding auto country"s economy, consisting of eliminating that longstanding profession deficit as well oui the blame incurred through war. In April of that year, auto government developed a nouveau body, called des boites des Dépots et Consignations, with thé express commander of serving ont a safeguard for public funds, including thé pension funds et retirement accounts de the country"s civil servants.

By 1822, CDC"s mandate had actually been expanded as it began issuing its tons loans in order to fund France"s framework development. CDC"s life loan, parce que le example, to be granted in order à fund the construction and development of a seaport at Dunkirk. Indigenous there, cdc quickly expanded to become the surtout financial partner pour many ns the development projects brought out passant par government agencies, as well oui local and regional governments. Cdc was especially repas in auto development of France"s transport linfrastructure The agency"s joining in this sector began in 1822, when cette became the surtout shareholder in the lentreprise des quatre Canaux. This investment later led cdc to get stakes in nearly tous of thé country"s transporte operations, including its railway and shipping services. Passant par 1830, cdc was auto largest financial coporation, groupe in France.

Another important extension of CDC"s commander came in 1837, once the corps became entrusted v the administration of thé country"s savings deposits. Oui such, the lentreprise became thé centralized depositary à la French passport save funds, beginning with those held passant par the des boites d"Epargne in 1837. Subsequently, toutes les personnes of thé tax-exempt to save accounts produced in the country, such as La Poste"s paroles de chanson A, launched in 1881, come under CDC"s auspices. Through these to save funds, cdc became année important source ns long-term lending, providing thé backing for auditeur development projects, consisting of housing et transportation facilities programs.

CDC increased its locaux fund en fonctionnement with auto launch ns the country"s tons retirement to save fund, the boîte des Retraites convoque la Vieillesse (CRV), in 1850. The CRV stood for one ns the country"s life personal insurance initiatives, helping à establish a personal danger insurance marché in France. The création of the CRV likewise came oui part du the growing transformation of français society. Ont France joined the Industrial Revolution of the 19th century, its populations increasingly shifted from a rural agrarian aménagements to a highly urbanized working-class society. Yet thé shift from the countryside à the city also brought an erosion ns traditional solidarity systems—in i m sorry the close proximity of année extended family members permitted care à la the elderly, pour example. In recognition ns this change, the french government et CDC began developing new insurance products à meet thé shifting needs of its population. This directif to the creation of the des boites nationale d"assurances en cas du décés, i beg your pardon provided sapin insurance, et the caisse nationale d"assurances en cas d"accidents, i m sorry supplied accident insurance. In 1959, centre de prévention du contrôle des maladies merged these deux bodies together, developing the boîte Nationale aux Prévoyance, which in 1998 became a public company under auto name CNP Assurance.

INFRASTRUCTURE appui INTO the 20TH CENTURY

The industrialization and modernization of la france also dirige the country à address its framework needs in the lundi half de the century. In auto early 1880s, the french government had passed new legislation, known oui the Jules traversier Laws, which developed a free et compulsory public school system in France. Centre de prévention du contrôle des maladies was put in charge of resources this effort, which associated the incarcération of thousands du schools throughout the country, v a nouveau entity, the caisse des Écoles. Cdc became an important source du funding for the creation of the country"s national railroad grid. At the same time, cdc was offered a mandate to faire un don the extension of thé country"s relatively undeveloped roadway system, specifically in its la campagne areas. à la this, cdc created the boîte des chemins Vicinaux in 1868.

COMPANY PERSPECTIVES

Caisse des Dépôts is a français State-owned financial agence with a single vocation: à serve the country. Ce insures in finish security the management of a taille portion of the personal savings de the français public and performs de nombreux public-interest missions. Ce is a vital partner ns local and regional governments, both directly et through its subsidiaries, and makes permanent investments in french companies—both large and small—and in économique development jobs throughout auto country. Caisse des Dépôts is evolving et on thé move. Its lordre are constantly gift enhanced and extended. Ont it becomes an ext modern, it remains faithful to its core values of trust et reliability.

The fast rise du France"s urban, working-class populations had created a substantial housing deficit by the turn of the 20th century. This instance led cdc to take conditions météorologiques one ns its most significativement roles, that du providing loans and other funding parce que le the creation of low-income housing. CDC"s sapin housing loans came from its very own funds, beginning in 1905. In 1908, however, the français government turned over oversight ns its own housing loan program to CDC. A significant moment in auto country"s social housing effort came in 1921, when centre de prévention du contrôle des maladies was granted auto right to use the portfolio de savings funds in order venir back its low-income real estate loans. This allowed centre de prévention du contrôle des maladies to broaden its real estate loan programs in thé years leading up à World war II. Centre de prévention du contrôle des maladies also played a duty in capital the développer of the national telephone network from the late 1930s.

The war years were a foncé period pour CDC oui the government corps humain became responsible parce que le serving thé policies du the occupational et Vichy governments. Among other roles played passant par CDC was ont the depositary parce que le the so-called Aryanization of the français economy, in which much of the french Jewish population were despoiled of their savings, businesses, and possessions. It was not until thé late 1990s the CDC, under international pressure, began making reparations à la its activities during auto war.

FUNDING thé POSTWAR RECONSTRUCTION

Rebuilding from thé destruction of World battle II, which saw more than 550,000 homes destroyed, became an important se concentrer of CDC"s funding essai in the postwar period. Cdc provided thé funding pour the français government"s five-year plan, launched in 1945, while also serving oui a central source ns lending à la the country"s local governments ont they sought à rebuild their infrastructure and public buildings and structures.

The postwar period also saw année increase in auto urbanization du the français population, particularly into auto Parisian region, which soon came à account à la roughly 25 percent of the arme à feu population. Increasingly, france faced a real estate shortage, especially a shortage de low-income housing. This instance was more exacerbated by the arrival conditions météorologiques the one hand ns the tide of français citizens return to france following thé declaration du independence par the north African nations formerly under French colonial control. At auto same time, auto rapid reconstruction of the country, et the economic boom of auto 1950s et 1960s had directif to a surging in nouveau immigrants in order venir fill auto country"s low-level positions. In réponse to the new demands conditions météorologiques the real estate market, cdc created a specialized real legacy subsidiary, the Société quartier général Immobilière du la des boites des Dépôts und Consignations (SCIC), created in 1954 specifically to build and administrate low-income housing. Deux years later, cdc founded CILoF, the entreprise Immobilière pour le hébergement des officiels et revendeur agréé de l"Etat, which began building almost 8,500 residential systems destined pour the country"s civil servants.

The complying with year, cdc added Société quartier général pour l"Équipement du Territoire (SCET), i beg your pardon was produced in order to provide faire un don for the reconstruction et extension of the country"s infrastructure nous a local et regional level. Par the early 1960s, cdc had join the essayer to build France"s high-speed Autoroute network, acquiring stakes in a number of thé companies charged through building et operating auto country"s toll road system. In 1963, centre de prévention du contrôle des maladies formed a specialized division, the boîte Nationale des Autoroutes, pour the funding de highway et roadway construction.

By 1970, the company had additionally extended Scet, including a specialized highway framework subsidiary, Scetautoroute. In auto meantime, cdc had likewise become affiliated in thé development ns the french vacation et tourism sector, through thé establishment ns VVF vacances in 1958. Autre unit, caisse d"Aide à l"Equipement des Collectivités locales (CAECL), was developed in 1966 in order to allow the country"s regional et municipal governments venir turn to private sector funding parce que le their auditeur works projects. Into auto 1970s, cdc extended its genuine estate en fonctionnement beyond the auditeur sector, launching a nouveau subsidiary, Scic avancement (later known oui Capri).

KEY DATES

1816:The boîte des Dépôts und Consignations (CDC) is created as a safeguard for auditeur funds.1837:The cdc begins the régner of savings funds.1868:Company launches its life insurance funds.1905:CDC becomes diriger source de funding for government"s low-income real estate objectives.

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1954:Creation ns Scic genuine estate arm (later renamed oui Icade).1983:C3D is created ont a holding lentreprise for various public interest-related subsidiaries, consisting of VVF, Egis, Transdev et others.1998:The caisse Nationale du Prévoyance (CNP) assurait arm goes public.2004:Majority stake de Eulia financial service subsidiary is revolutionized to boîte d"Epargne.

FRENCH FINANCIAL moyeu IN THE nouveau CENTURY

CDC began venir restructure its various operations et divisions in the early 1980s. Ont part du this process, the société moved à separate its subsidiary operations from the government capital activities. Towards this end, cdc created a nouveau holding company, C3D, à la its subsidiary operations. These had VVF, Scet, Scic, année engineering arm, Egis, oui well ont the entreprise des Alpes, created in 1989 à acquire français ski resorts, et Transdev, a professional in mass transport systems created in 1990. Another phase of cdc restructuring process took place in 1986, when cdc spun éteindre CAECL right into a nouveau dedicated jae won subsidiary, Crédit Local ns France.

In thé early 1990s, cdc took on a nouveau role as a capitale investment provider, launching a small entreprise program à provide personal equity capital to auto small- et mid-sized companies market. While these opération took carré primarily through thé acquisition du stakes in investment funds, cdc also began a program of habitent equity investments starting from 1994. In 1998, CDC"s investment opération were transferred venir a nouveau subsidiary, cdc Enterprises. By the middle du the suivant decade, cdc held crest in an ext than 250 publicly hosted companies, and had listed equity financing venir more than 2,500 companies throughout France. Many du these group"s investments represented highly strategic, permanent investments. By the middle du the life decade du the 2000s, centre de prévention du contrôle des maladies held surtout shareholder status, including auto top une or deux position, in part 13 de the parisien Bourse"s CAC 40 index.

In the late 1990s et into the 2000s, cdc increasingly sought to compete within the private sector, while keeping its role as a main financial hub for the français government. In 1998, the société listed that CNP assurait subsidiary on the paris exchange. The auditeur offering, which developed CNP ont the leading sapin insurance provider in france with a market share of 20 percent, enabled the entreprise to carry in strategic partners, including la Poste et Caisse d"Epargne.

Next, centre de prévention du contrôle des maladies merged toutes les personnes of the financial opération into a simple unit, called cdc Ixis, which came to be the se concentrer of its invest banking and assets administration operations. Thé following year, centre de prévention du contrôle des maladies Ixis an unified its opération with those du the regional Savings bank to form Eulia, organized jointly v the des boites Nationale des boîte d"Epargne. In 2004, cdc agreed to allow the boîte d"Epargne venir take majority control of Eulia, permitting the creation of a major french banking institution qui peut être of competing on a european scale. Nonetheless, centre de prévention du contrôle des maladies maintained a strategic position in the newly enlarged boîte d"Epargne, with a 35 percent share.

CDC continued venir adapt et expand its functions venir reflect the changing political and social situation into the middle ns the tons decade de the 2000s. In 2005, for example, cdc was given auto responsibility à la maintaining France"s registry de greenhouse gas allowances as part of the country"s adherence to the agreements under the Kyoto Protocol. Cdc quickly expanded this role, emerging its very own registry software application package referred to as Seringas, which it then marketed to its counterparts in auto European Union. De 2007, Seringas had actually been put into carré to oversee auto carbon emissions registry de 13 countries. After 190 years, cdc remained an important component in auto enactment du the french government"s financial et social policies.

M. L. Cohen

PRINCIPAL SUBSIDIARIES

CDC Entreprises; CNP Assurances; société des Alpes; Egis; Icade; Société Nationale Immobilière (SNI); Transdev; VVF Vacances.

PRINCIPAL COMPETITORS

Natixis S.A.; IXIS Corporate and Investment bank S.A.; HSBC la france S.A.; credit transaction Foncier du France; boîte Interfederale du Credit Mutuel; grouper Credit Mutuel Arkea; société Financiere aux Credit Mutuel S.A.; Credit aux Nord S.A.; Dagris S.A.; SOFINCO; CIC Banque CIO-BRO.

FURTHER READING

"Caisse des Depots et Consignations (CDC) and Caisse d"Epargne, the Savings Bank, oui Signed an Agreement for caisse d"Epargne à Absorb Eulia," Euroweek, July 25, 2003, p. 10.

"CDC nation Its share to auto State," les Echos, pouvez 30, 2002.

"CDC Reinvents itself with us Purchase et Rebranding," globale Investor, February 2001, p. 10.

"French banks Join renforcer to Take nous European Rivals," Banker, July 2001, p. 26.

Krause, James R., "France"s Launching US office of dunicité French Company," American Banker, December 26, 1991, p. 2.

190 year Caisse de Depots: Continuity et Evolution, Paris: CDC, 2006.

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Schwartzman, Sharon, "Bonjour, wall Street," Wall street Computer Review, august 1991, p. 16.