On March 18, 2010, the U.S. government passed new tax rules (the Foreign Account Tax Compliance Act or FATCA) that compel non-U.S. financial institutions and other entities to document and disclose information about their U.S. account holders to the U.S. Internal Revenue Service or face a potential 30 percent withholding tax on certain U.S. source income that they receive for their own account and the accounts of their clients.

As noted in the Credit Agricole Group’s 2011 Annual Report, the Credit Agricole Group S.A and Credit Agricole Luxembourg S.A. are conducting a transversal FATCA implementation project to ensure compliance with applicable FATCA obligations within allotted timeframes.