France has carried out more reforms than has been said, but less than many of our neighbors, on all political sides. The Banque de France also serves the country through the economic services that it provides. In 2016, we helped 212,000 families get out of excessive debt and, in line with what we had proposed, the legislator simplified the procedure by reforming the out-of-court phase and by limiting the role of the judge in the debt resolution procedure. These two advances, which will take effect on 1 January 2018, will accelerate the implementation of solutions, with an average gain of 3 months: more than 130,000 families would have benefited from these measures in 2016. In 2016, we also appointed, in each département, a VSE correspondent responsible for advising them in their requests for financing or financial assessments; I invite the banks present today to continue their efforts towards VSEs. Lastly, in 2016, the Banque de France was appointed as the operator of the national strategy for the economic and financial education of the public. In this capacity, we will orchestrate the actions of public services, associations and professionals, to provide French citizens with the maximum amount of resources for understanding the budgetary, economic and financial issues of everyday life. By the end of January, we will take a very concrete step with the opening of the new information portal “mes questions d’argent .fr". 1.
François Villeroy de Galhau: Prospects, challenges and promises New Year wishes to the Paris financial centre New Year wishes to the Paris financial centre by Mr François Villeroy de Galhau, Governor of the Bank of France, 12 January 2017. * * * I would like to welcome you all, our partners throughout the year – public officials, financial and economic players, journalists – to this magnificent Golden Gallery for this happy tradition of extending New Year wishes to the Paris financial centre. I would like to start by extending to you, on behalf of the whole of the Banque de France and the ACPR, our warmest wishes for 2017, for you and your loved ones, as well as for all of your staff. To these personal wishes, I would like to add several collective wishes this evening: first for Europe and its economy, then for our country, and finally for the smooth financing of our economy and for financial institutions. 1. For Europe and its economy A year ago, I had noted with you that 2016 had begun as the year of volatility, with the turbulences in the financial markets. In fact, 2016 was rather the year of uncertainty, with the Brexit victory in June, the American election in November and the Italian referendum in December.