People

Geography

New Caledonia is located in the South Pacific, close to the Tropic of Capricorn, at the southern end of Melanesia.

Economy

Government

Exchange control

There are no exchange control regulations in New Caledonia, however financial institutions have obligations under French law to report suspicious or unusual transactions to both the New Caledonian and French authorities.

Banking regulations

Many state responsibilities are slowly being transferred from France to New Caledonia, however banking and finance is governed by the French State through the Banque de France and its various committees.

One of these committees, the Comité des Etablissements de Crédit et des Entreprises d’Investissement (CECEI), is responsible for issuing banking licences in all French territories, including New Caledonia.

The Commission Bancaire is responsible for protecting depositors. It also acts as a watchdog over the French banking and financial system to ensure its profitability and stability. All banks operating in New Caledonia must report to the Commission Bancaire.

In New Caledonia the Banque de France (the national bank of France) is represented by the Institut d’Emission d’Outre-mer (IEOM), which has responsibility for: