NATIXIS_PILLAR_III_2017_EN

2 GOVERNANCE AND RISK MANAGEMENT ORGANIZATION Risk factors

As a member of BPCE Group, a resolution proceeding with respect to Natixis would in all likelihood be linked to a resolution proceeding in respect of BPCE Group. The relevant resolution authority would manage the resolution proceeding at the level of BPCE, which would be the “single point of entry” of BPCE Group. Even if the resolution proceeding results from a difficulty encountered in a BPCE Group entity other than Natixis, it is possible that bail-in or other powers could be exercised in respect of Natixis, or that a controlling stake in Natixis could be sold to a third party or a bridge institution, in connection with a resolution proceeding initiated in respect of BPCE Group.

If the financial condition of Natixis or of BPCE Group deteriorates, or is perceived to deteriorate, the existence of the bail-in powers and other resolution powers could cause the market value of the shares and other securities of Natixis to decline more rapidly than would be the case in the absence of such powers. Public financial support would not be available except as a last resort, after resolution tools, including the bail-in power, have been fully exhausted.

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NATIXIS Risk report Pillar III 2017

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