{"id":113407,"date":"2025-02-13T16:11:07","date_gmt":"2025-02-13T15:11:07","guid":{"rendered":"https:\/\/www.afg.asso.fr\/?p=113407"},"modified":"2025-02-14T12:20:53","modified_gmt":"2025-02-14T11:20:53","slug":"lafg-repond-aux-consultations-iosco-sur-la-gestion-du-risque-de-liquidite","status":"publish","type":"post","link":"https:\/\/www.afg.asso.fr\/fr\/lafg-repond-aux-consultations-iosco-sur-la-gestion-du-risque-de-liquidite\/","title":{"rendered":"L&rsquo;AFG r\u00e9pond aux consultations de l&rsquo;OICV sur la gestion du risque de liquidit\u00e9"},"content":{"rendered":"\n<p>A l\u2019occasion de la mise \u00e0 jour de ses recommandations sur la gestion du risque de liquidit\u00e9, l&rsquo;OICV (<em>IOSCO &#8211; International Organization of Securities Commissions<\/em>) a lanc\u00e9 deux consultations conjointes autour de ce th\u00e8me. La recommandation 3 insiste sur la n\u00e9cessite de maintenir une coh\u00e9rence entre la liquidit\u00e9 propos\u00e9e par un fonds ouvert et la liquidit\u00e9 de son portefeuille d\u2019investissement. A ce titre, elle impose un regroupement des fonds en trois cat\u00e9gories en fonction de la liquidit\u00e9 des instruments \u00e0 leurs actifs. La fr\u00e9quence de valeur liquidative d\u00e9pendra de la cat\u00e9gorie dans laquelle le fonds sera class\u00e9.<\/p>\n\n\n\n<p>L\u2019AFG insiste dans sa r\u00e9ponse sur plusieurs points\u00a0:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>La liquidit\u00e9 d\u2019un titre varie au cours du temps&nbsp;;<\/li>\n\n\n\n<li>La liquidit\u00e9 d\u2019un portefeuille ne s\u2019appr\u00e9cie pas titre par titre mais \u00e0 l\u2019\u00e9chelle du fonds&nbsp;;<\/li>\n\n\n\n<li>La liquidit\u00e9 du portefeuille (qui est variable) n\u2019est pas le seul param\u00e8tre \u00e0 prendre en compte pour d\u00e9terminer la fr\u00e9quence de VL (qui est fig\u00e9e dans le prospectus)<\/li>\n\n\n\n<li>En termes de gestion du risque de liquidit\u00e9, les fonds europ\u00e9ens b\u00e9n\u00e9ficient d\u2019un cadre r\u00e9glementaire europ\u00e9en complet, robuste et efficace. Et ce cadre est actuellement compl\u00e9t\u00e9 par le d\u00e9ploiement obligatoire de deux outils de gestion de liquidit\u00e9.<\/li>\n<\/ul>\n\n\n\n<p>En conclusion l\u2019AFG estime que, en Europe, cette classification n\u2019apportera aucune valeur ajout\u00e9e.<\/p>\n\n\n\n<div class=\"wp-block-columns alignwide are-vertically-aligned-center is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons alignwide is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-75 is-style-cyan\"><a class=\"wp-block-button__link has-white-color has-blue-background-color has-text-color has-background has-link-color has-text-align-center wp-element-button\" href=\"https:\/\/www.afg.asso.fr\/fr\/publication\/reponse-de-lafg-sur-les-orientations-de-loicv-pour-une-mise-en-oeuvre-efficace-des-recommandations-en-matiere-de-gestion-du-risque-de-liquidite\/\" style=\"border-style:none;border-width:0px;border-radius:46px;padding-top:var(--wp--preset--spacing--40);padding-right:var(--wp--preset--spacing--60);padding-bottom:var(--wp--preset--spacing--40);padding-left:var(--wp--preset--spacing--60)\" target=\"_blank\" rel=\"noreferrer noopener\">La r\u00e9ponse de l\u2019AFG sur les orientations de l\u2019OICV pour une mise en \u0153uvre efficace des recommandations en mati\u00e8re de gestion du risque de liquidit\u00e9<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons alignwide is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-75 is-style-cyan\"><a class=\"wp-block-button__link has-white-color has-blue-background-color has-text-color has-background has-link-color has-text-align-center wp-element-button\" href=\"https:\/\/www.afg.asso.fr\/fr\/publication\/reponse-de-lafg-aux-consultations-oicv-sur-la-gestion-du-risque-de-liquidite\/\" style=\"border-style:none;border-width:0px;border-radius:46px;padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30)\" target=\"_blank\" rel=\"noreferrer noopener\">La r\u00e9ponse de l\u2019AFG aux consultations OICV sur la gestion du risque de liquidit\u00e9<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A l\u2019occasion de la mise \u00e0 jour de ses recommandations sur la gestion du risque de liquidit\u00e9, l&rsquo;OICV (IOSCO &#8211;&hellip;<\/p>\n","protected":false},"author":6,"featured_media":111130,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_gspb_post_css":"","wds_primary_category":5,"footnotes":""},"categories":[5],"tags":[],"thematics":[134,100],"top_contenu":[44,45],"class_list":["post-113407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-classifiee","thematics-gestion_financiere_et_management_du_risque","thematics-risque_de_liquidite","top_contenu-top-contenu-espace-membre","top_contenu-top-contenu-home-page"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/posts\/113407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/comments?post=113407"}],"version-history":[{"count":0,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/posts\/113407\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/media\/111130"}],"wp:attachment":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/media?parent=113407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/categories?post=113407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/tags?post=113407"},{"taxonomy":"thematics","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/thematics?post=113407"},{"taxonomy":"top_contenu","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/top_contenu?post=113407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}