7 without a sufficient demand they explain

Finally, it will be 96 billion. Almost a month after committed to make available the TPE and SMEs a budget of 38 billion euros of medium and long-term credits, the five major French banks have agreed to give 58 billion in cash (including renewals of existing lines) credits. In total, are therefore 96 billion that will be specifically devoted to the financing of the TPE - SMEs in 2010, non-agricultural sector, five banks (BNP Paribas, Société Générale, Crédit Agricole, BPCE, Credit Mutuel), an increase of slightly more than 3 from last year.

French banks have taken this commitment Friday, at a meeting in the Elysee Palace with Nicolas Sarkozy, who was recalled to the order in February, accusing them of "tightening screw" on business credit. Services of the mediator of the credit, Gérard Rameix, had then pointed to the "excessive caution" banks credit for SMEs and criticized the processing times for small files.

The President of the French Banking Federation (FBF) Baudouin Prot said Friday that "c five networks veryone knows its share in these figures and the implementation of these envelopes will be tracked in the year".

Unlike the end of 2008 commitments by the banks, it is this time an envelope provision and not a goal of the outstanding growth, to which Bercy was attached initially. 96 Billion were not necessarily intended to be used by companies to 100. "The envelope made available is greater than 2009, but this does not mean that companies will use it entirely, says Ariane Obolensky, Executive Director of the FBF." We have not taken on the request of companies, which is very dependent on the evolution of the situation. This is why we do not commit on a rise in the stock. We are in a logic of offer. "And remember that"we are more in the context of support to the financing of the economy plan", as at the end of 2008. In January, according to figures from the Bank of France, the SME credit outstanding rose 1, to EUR 268,6 billion a year, but cash SME credits outstanding decreased by 8.1.

Banks took no commitment pricing of these credits, including credits for cash. For the FBF, the cost of credit is less a problem for SMEs access to credit.

Fifteen days response time

Institutions however promised a response time of 15 days for applications for funding of the common needs of TPE and SMEs, as the received record is complete. An initiative welcomed by the General Confederation of small and medium-sized enterprises Friday. "Beyond the announced amounts, it is this last measure that seems to me the most important, said Jean-François Roubaud, President of the CGPME.". So far, some companies sometimes expected responses for a month, a month and a half.

Bankers had continually defend their record on access to credit last year. "The French economy has benefited from support plan, continuity of funding is remarkable and quite exceptional in Europe", recalled Baudouin Prot. While they were committed to advancing the credit in 2009 outstanding 3-4, French banks could display only up 2.7, without a sufficient demand, they explain. They nevertheless better argued the credit growth in the rest of the euro area.