Caisse des dépôts et consignations

Management

Jean -Pierre Jouyet

The Caisse des Dépôts et Consignations (CDC ), which now occurs with their short form of the name Caisse des Dépôts, is a state-owned financial institution in France. The CDC was established by a special law on 28 April 1816 in the post- Napoleonic restoration and has been subject since its inception the direct supervision and protection of the French Parliament ( " sous la Surveillance et la garantie de l' autorité legislature "). Headquarters of the CDC is Paris.

Functions

Today, the Caisse des Dépôts:

• The leading management company for French savings, pension funds and private investment funds, which are protected by law in France,
• Leader in the financing of social housing in France as well as in the field of urban development and transport infrastructure,
• Long-term financing partner for local and regional authorities,
• Investor in the French economy.

The CDC administers therefore primarily pension and government funds, which are then invested in the public and private sectors. The strategic basis for this is the "Elan 2020" program. Thereafter, the funds in the areas

• SMEs ( funding more than one billion euros for the development of the French SME sector ),
• Housing (mainly in social housing to 90,000 homes per year occur )
• Universities (modernization of French universities) and
• Sustainable development (renewable energies, biodiversity protection, socially responsible investment)

Invested.

Investments

CDC holds a 40 percent stake in the life insurer CNP Assurances, 43.7 percent of the financial companies OSEO, to the real estate companies Icade 61 percent and 100 percent of SNI. The infrastructure company Egis is wholly owned by the CDC. In addition, the CDC holds 42 percent shares in the Compagnie des Alpes tourism enterprises and Belhambra 40 percent. Other company with holdings CDC on transport company Transdev ( 60 percent) and on environmental services, Veolia Environnement (9.5 percent) (April 2011).

History

The Caisse des Dépôts was established by the Law of 28 April 1816. This company was established at the suggestion of Louis -Emmanuel Corvetto (1756-1821) the former French finance minister in the cabinet of Armand -Emmanuel du Plessis de Richelieu to Louis XVIII. The proposal was in response to a high national debt, which had been exacerbated by Napoleon's rule of the Hundred Days. So it was in 1814 forced to borrow money to 8 percent interest. Since the Banque de France, was the first shareholder Napoleon Bonaparte, was still closely associated in the memories of people with this, to Louis XVIII decided. for the creation of this new financial institution with which the deposits and deposits were used for the notaries to buy up government bonds, ie to fall into debt. The Act of 1816 provided the funds in " very special way under the supervision and guarantee of the legislature ". This formulation can still be found in § 518-2 of the French Monetary and Financial Code. Corvetto said at the time, before the Chamber of Deputies: "We have laid the first stone of a building, and its benefits will grow with the times."

In 1818, the producer, scientist and banker Benjamin Delessert recommended ( 1773-1847 ) Minister of Finance Corvetto, the financing of the Caisse des Dépôts (and thus the national debt ) to improve by creating savings banks and savings accounts to obtain the savings of the emerging middle class. The first savings bank opened in Paris in May 1818 and the same was the Livret A, the French passbook introduced. The law of 31 March 1837 collected by the savings banks on the passbooks funds controlled by the Caisse des Dépôts was assumed.

As in 1822, the State was able to offset its budget again, the finance minister Jean -Baptiste de Villèle began ( 1773-1854 ), the soon to be appointed Prime Minister, with funds from the Caisse des Dépôts to finance industrial development of France. At the beginning it was a first loan for the rehabilitation of the port of Dunkirk. The fund took over 1823 shares in the joint stock company Compagnie des quatre canaux (German society of the four channels). The company was established to contribute to the realization of an ambitious plan, France to coat with a channel system, the Louis Becquey, the director of the Corps had worked Ingénieurs des ponts et chaussées and 1820 the King proposed.

This function takes the Caisse des Dépôts according to the present day. So they financed around 2012 the construction of the geothermal heating plant Rittershoffen in Alsace.