For the UFCQue choose the technical reason fails anyway

Consumers have more to be imposing value dates, this time by banks between a banking transaction date and the actual recording in the accounts.

Because these cash shifts, especially heavy for enterprises, have a cost: interest on an overdraft at a few more days, a savings account which loses a fortnight of pay... This is what led UFC - that choose to take justice against Société Générale, Crédit Agricole, BNP Paribas and Crédit Lyonnais. The first two because the value date applied to the cheques, the other two in addition to withdrawals and transfers.

The application of a date value for the withdrawals and transfers is not allowed because computerization allowed near-instant processing of these operations. However, institutions are accused to continue this practice. Thus, according to a "grid" compiled by the UFC - that choose end of 2002, BNP Paribas and the Lyonnais did had not transfer received the same day on behalf of their client but a day later (J 1), or two for the CIC Lyonnaise de Banque. Reverse practice is applied to samples: they are, on the contrary, deducted two days before the actual operation.

For cheques, the practice of value dates is permitted because of technical processing times. But, for the UFC - that select, this exception must disappear, the banks have put in place since the month of June 2002 a compensation system computer to replace the old system of physical compensation, where the banks exchanged packets of cheques, so virtually in real time once the seizure is conducted.

Additional liquidity

"Cheque image exchange has improved the processing of cheques, but he has not removed the obligation to audits and controls," responds one at BNP Paribas. Crédit Agricole and Crédit Lyonnais, they do not wish to speak. Société Générale, she argues that it "does a date value to discounts of cheques for the calculation of interest due to technical delays receipt and not on transfers, in contrast to the other banks".

For the UFC-Que choose, the technical reason fails anyway. "Value dates are an accounting entry." "They are not related to the technical processing of operations", said Isabelle Faujour, Assistant to the legal of the UFC - choose Director. An expert of the cheque also indicates that "value dates are billing tool." Crédit Lyonnais acknowledged even in the procedure that objects it to the UFC - choose: "value dates are a form of compensation for the services provided by Crédit Lyonnais to its customers."

This billing by value date that would not say his name rebattrait maps to the status quo of "neither - nor" which are both French banks as cheques are not charged, the banks do not pay accounts.

More same that billing hidden to cover the costs incurred, dates of values allow all banks to identify additional liquidity to place, the Association. According to calculations of the latter, juggling on these offsets for registration, banks earn 183 million euros of interest per year since 1999 by placing these funds become available. If technical justification, the UFC-Que choose request the deletion of the value dates. The judgment will be rendered on 4 May.