Central banking missions in the Pacific

IEOM issues its own monetary signs, which are denominated in Pacific francs (CFP francs) and are the legal tender in the French overseas collectivities of the Pacific. IEOM defines and implements the State’s monetary policy in New Caledonia, French Polynesia and Wallis and Futuna.

Conduct of monetary policy

The State’s monetary policy in the Pacific franc zone, as defined and implemented by IEOM, pursues the following objectives : to support economic development and the financing of the real economy in the territories, to contribute to price stability and moderate credit costs, to ensure monetary liquidity and financial stability in the zone.

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Issuance of banknotes and coins

IEOM issues its own monetary units, denominated in Pacific francs (CFP francs), which are legal tender in the French Pacific overseas collectivities. IEOM branches are responsible for distributing banknotes and coins within their respective territories.

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Maintenance of banknotes and coins

IEOM branches also verify the authenticity and quality of CFP franc banknotes and coins in circulation. They carry out sorting operations and oversee recycling to maintain optimal quality and security of the currency in use.

IEOM promotes financial stability within the Pacific franc zone by producing financial information, monitoring non-cash payment systems and instruments, and relaying information from national and European supervisory authorities at a local level.

Monitoring of non-cash payment systems

IEOM ensures the smooth operation and security of these systems and instruments. It also contributes to the oversight and development of automated interbank clearing systems.

Collection of information on the banking sector

IEOM compiles monetary and financial statistics for the French Pacific overseas collectivities, taking part in banking system oversight in close collaboration with national regulatory and supervisory authorities. It collects and shares with credit institutions data on non-performing loans, social contribution arrears, market shares and lending conditions for businesses and individuals.
It is also responsible for centralising bank balance sheets within its jurisdiction.

Relay for national and European supervisory authorities

Within its scope of intervention, the IEOM acts as a relay for the national financial regulatory and supervisory bodies, including the Banque de France, the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF).
Particular attention is given to cooperation with the ACPR in the areas of anti-money laundering and counter-terrorist financing (AML/CFT), as well as the supervision of commercial practices.

IEOM provides support to businesses and individuals who are experiencing financial difficulties. The Institute also runs economic, budgetary and financial education initiatives targeting a wide range of audiences.

Support for businesses:

• Company ratings : IEOM assigns ratings to companies based on information collected from banks, businesses and commercial registries. This rating reflects a company’s ability to meet its financial commitments over a three-year period. It is also used for monetary policy purposes to determine whether some or all of a company’s loans are eligible for IEOM refinancing. Learn more
• Credit mediation : The credit mediation mechanism facilitates – and sometimes unlocks – negotiations between banking partners and companies to help them obtain or renew credit. Learn more

Services for the general public and financial inclusion

• Prevention and management of over-indebtedness : In New Caledonia and French Polynesia, IEOM acts as the secretariat of the over-indebtedness commissions, on behalf of the local governments. As part of this role, IEOM handles individual cases of over-indebtedness. Learn more
• Right to a Bank Account : IEOM assists individuals and legal entities in exercising their right to a bank account. By law, the Institute may open an account with a bank when access to banking services is denied. Learn more
• Management of payment incident files : IEOM provides individuals with access to their personal data recorded in payment incident registers and the Overseas Accounts Register (Fichier des Comptes en outre-mer — FICOM) upon request. Learn more

Management of Public Treasury Accounts

IEOM manages the accounts of the Public Treasury and its accredited agents in each French Pacific collectivity.

L’Éducation économique, budgétaire et financière (EDUCFI)

IEOM is strongly committed to promoting economic, budgetary and financial education across the Pacific territories. In partnership with the Banque de France, this mission aims to ensure that every citizen acquires the knowledge needed to manage their finances independently and responsibly. IEOM fulfils this commitment through various initiatives.

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IEOM observes, studies and analyses the economies of the French Pacific collectivities, disseminating this information through various publications and outreach activities.

Economic studies

IEOM is responsible for monitoring the economy within its jurisdiction. It produces financial indicators, monetary statistics, economic studies and business climate surveys to inform monetary authorities and economic stakeholders. These analytical outputs are also shared with a wide range of stakeholders, including businesses, chambers of commerce, and public authorities.

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Balance of payments

IEOM compiles the balance of payments for New Caledonia and French Polynesia, including data collection, analysis and publication of annual reports.

Expertise for public decision-makers

IEOM provides public and private decision-makers with advice and in-depth analysis to support economic development in the overseas territories.

Local financial sector activities

IEOM organises and participates in events aimed at promoting and strengthening the financial sector within its area of responsibility.