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The CFP franc (French: Franc pacifique, called the franc in everyday use) is the currency used in the French overseas collectivities (French: collectivités d'outre-mer, or COM) of French Polynesia, New Caledonia, and Wallis and Futuna. The initials CFP originally stood for colonies françaises du Pacifique ('French colonies of the Pacific'). This was later changed to Communauté financière du Pacifique ('Pacific Financial Community') and then to its present term, Change franc Pacifique ('Pacific Franc Exchange'). Its ISO 4217 currency code is XPF. The CFP franc is subdivided into 100 centimes. The currency is issued by Institut d'émission d'outre-mer.