French banks’ cash accounts to be audited, report says
French banks have been ordered to be inspected by French police to see if they have adequate reserves and are maintaining enough cash in their bank accounts, a report by French daily Le Figaro has said.
According to the report, which was first published on Tuesday, the Financial Intelligence Unit of France’s central bank will have access to a database of financial information of all French banks by March 31.
It also said that if banks fail to meet the conditions of the order, they will be obliged to publish the results of their investigations.
According the Le Figardo report, the bank inspections will start on Wednesday, and will take place over the next few months, including a meeting on Thursday with the French Finance Ministry.
The Financial Intelligence Units is a division of the National Bureau of Investigation (BNI), which is responsible for investigating terrorist acts.
The NBI is also responsible for the National Security Bureau (BND), the Federal Bureau of Investigations (BKA), and the French National Police.