Banque de France
BDF
Paper
French SME repayment capacity weakens as turnover growth stalls
French small and intermediate enterprises faced deteriorating credit repayment capacity in 2025 despite solid profit shares and stable cash reserves, according to Banque de France tax data.
Focus
BDF
Data
Operational emissions drop 35 percent, beating 2025 target
Greenhouse gas emissions at the Banque de France fell 35 percent between 2019 and 2025, beating the 25 percent reduction target.
BDF
Paper
Transmission protection drives 80 percent of ECB policy events
A Banque de France study identifies transmission protection as an active policy dimension in over 80 percent of ECB meetings since 2010.
Latest
BDF
Paper
Nature lawsuits reduce corporate market values by 1.8 percent
Nature-related lawsuits reduce corporate valuations by an average of 1.76 percent around court rulings, according to a Banque de France working paper.
BDF
Paper
Climate stress tests raise spreads for new high emitters by 10bp
Participating in the ECB climate stress test led euro area banks to reallocate credit away from carbon-intensive clients and charge 10 basis points higher spreads on new high-emitting borrowers, according to a Banque de France study of over two million loan records.
BDF
Data
French Q3 GDP growth projected at 0.2 percent
The Banque de France estimates French GDP will grow by 0.2 percent in the third quarter of 2026, matching Q2 expansion.
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BDF
Press
France maintains 99.8 percent cash access as private points expand
Metropolitan France maintained near-universal access to cash at the end of 2025, with 99.8 percent of the population living within 15 minutes of a withdrawal point.
BDF
Decoder
Input shortages trigger longer inflation than shipping delays
Banque de France researchers have developed the Global Supply Chain Tension Index to separate input-production shortages from transportation disruptions.
BDF
Paper
Real estate pledgeability drives sectoral credit misallocation
A new Banque de France working paper by Aurélien Espic shows that differences in asset pledgeability cause sectoral credit misallocation.
BDF
Paper
Red Sea closure costs Egypt 3 percent as global trade adapts
A Banque de France study reveals that a permanent Red Sea closure lowers real income for major economies by less than 0.02 percent.
BDF
Data
Second-quarter French GDP growth estimated at 0.2 percent
The Banque de France estimates second-quarter GDP growth at 0.2 percent following a June rebound across manufacturing, services, and construction.
BDF
Paper
Hybrid regimes prove more vulnerable to sanctions than autocracies
A new Banque de France working paper analyzes 309 sanctions episodes from 1990 to 2018 and finds that hybrid regimes are significantly more vulnerable to external pressure than closed autocracies.