Crédit Foncier de France: Difference between revisions
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Revision as of 22:37, 11 October 2007
Crédit Foncier de France is a national mortgage bank of France. Its headquarters are located in Charenton, on the outskirts of Paris, 100 meters outside the Paris city limits.
History
The Crédit Foncier initially made loans to communes. It was formed by Emperor Napoléon III in an attempt to modernize the medieval French banking system and expand French investment outside Europe. The Crédit Foncier had a monopoly on mortgages.
In modern banking terminology a "credit foncier" loan is a loan for a fixed period with regular repayments where each repayment includes components of both principal and interest, such that at the end of the period the principal will have been entirely repaid. This is to be contrasted with an "interest only" loan where the repayments are of interest only.
External link
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