This supervision was introduced as a result of the 2008 crisis, which revealed the limitations of financial sector supervision that focused primarily on the stability of individual institutions.
In 2023, this European supervisory model demonstrated its efficiency when faced with a series of bank failures in the United States, as well as during the Crédit Suisse crisis. At a time when fears of a new banking crisis were mounting, European and French financial institutions proved to be sound and resilient.
The ACPR's work revolves around three main areas of focus:
The ACPR is tasked with analysing the functioning of the banking and insurance sectors and assessing their vulnerabilities. Its teams of experts, economists and actuaries conduct macroeconomic and sector-specific studies, as well as analyses of the risks that could affect banks and insurance organisations.
The ACPR assists the institutions under its remit in their identification, anticipation and monitoring of risks. For instance, for several years now, the Authority has been paying particular attention to cyber risks and to the other challenges brought on by the ongoing digital transformation, as well as to climate change concerns.
The ACPR contributes to the development of standards governing banking and insurance activities. These standards aim to secure a harmonised regulatory framework, strengthen financial stability and prevent future crises.
The ACPR is actively involved in the work of the Haut Conseil de Stabilité Financière (HCSF – the French High Council for Financial Stability), which is chaired by the Minister for the Economy. The HCSF coordinates macroprudential policies in France, including in collaboration with European institutions.
The ACPR also maintains close ties with the AMF (Autorité des marchés financiers – the French Financial Markets Authority) to better understand financial risks and protect consumers.
At the same time, the ACPR maintains a constant dialogue with the financial industry, through regular consultation and conferences, to improve the way prudential regulations are understood and implemented.
The ACPR is involved in international groups such as the Basel Committee on Banking Supervision, the International Association of Insurance Supervisors (IAIS) and the Financial Stability Board.
The ACPR is an administrative authority backed by the Banque de France. Their relationship generates synergies between the two authorities, where both benefit from a comprehensive view of the financial sector. The ACPR and the Banque de France created the Financial Stability Directorate to improve their preparedness and efficiency when it comes to financial regulation. They cooperate closely on macroprudential and monetary policies.
Updated on the 27th of March 2025