Certificates of deposit issued by La Banque Postale got the STEP label.
It aims to foster the integration of the European markets for short-term paper through the convergence of market standards and practices.
Integration will enhance market depth and liquidity and increase the diversification opportunities for issuers (both financial and non-financial institutions) and investors. The Financial Markets Association (ACI) and the European Banking Federation (EBF) are the main promoters of the STEP initiative.