Under a plan announced by Arthuis in 1996, the state-run bank Caisse des dépôts et consignations bought more than two-thirds of the shares of nearly bankrupt property lender Crédit Foncier de France and transfer its assets to another state-run entity, which was to liquidate them over 10 years; although Crédit Foncier was not state-owned, the government had to rescue it not only because of its large exposure to the bond market but also because many French people considered its shares to be among the most steady and risk-free.