Municipal credit of Paris

The Municipal credit of Paris is an financial institution created in 1918 to succeed the Mont of Piety, called “My aunt” to Paris. Like its predecessor, it accommodates the deposits of valuable articles (jewels, silverware, works of art, etc) against 50% to 70% of their estimate on the market of the public biddings in the form of a Loan against security . The Municipal credit acts also of Banque and room of Auction. One can mortgage also there his goods real.

Presentation

The Municipal credit of Paris is currently located 55, Rue of Francs-Bourgeois to Paris IV {{E}}. It has branches in several districts. The buildings have of a sale-room and a room of deposit. One still finds there a drying oven uses which was used to disinfect the mattresses pawned with 18th and 19th centuries.

January 24th, 1984, the Municipal credit of Paris becomes a bank with whole share. In 1992, it passes under the responsibility of the Town of Paris, its single shareholder.

Value of the objects

The goods which are deposited there are sometimes very great value. In 1998, a Samovar offered by the Tsar Nicolas II of Russia to President Felix Faure into 1896 is allocated there to more than 2 franc million.

In 2005, tables of Modigliani were sold there. In October 2006, the Mairie of Paris put on sale wine bottles like Pétrus, castles Latour or White Cheval castles of the years 1980 to 1990, and well of others still.

Public integrity

In 1945, the Court of Auditors transmits to the Minister for Finance an overpowering ratio for the Municipal credit of Paris. Its activity then knows a Net retreat before beginning again timidly after 1946. In the Years 1950, the loans against security continue to fall.

In 2002, the regional court of the accounts of Ile-de-France publishes a report blaming the management of the Municipal credit of Paris between 1995 and 2000.

In 2005, Banque de France engaged a disciplinary proceedings against the Municipal credit of Paris, following distorsions with the banking regulations. The mayor of Paris then decided to separate from his principal leader.

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