The French Debt Market Securities (Titres de Créances Négociables) represented mostly by CD’s and CP’s, amounts to € 450bn at the end of October 2008.
The TCN market offers good quality issuance from Financial Institutions reporting to Banque de France, as to satisfy demand from the institutional investor base in Europe which includes € 1 trillion of Short Term Monetary Funds (as of end June 08, +10% vs June 07) of which 46% (€ 463bn) are French domiciled.

Remuneration can be Fixed, Variable or Structured and maturities ranging from one day to one year.