trending Market Intelligence /marketintelligence/en/news-insights/trending/jBrJ-NpCUnWqCO7ZUCoGzQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

SocGen in 'more active' US talks over interbank offered rates, Libya

Key Credit Risk Factors When Assessing Banks In The Context Of COVID-19

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

Street Talk Episode 60 - You Down With PPP? Consider The Risks

SocGen in 'more active' US talks over interbank offered rates, Libya

Société Générale SA said it has entered into a phase of "more active" discussions with the U.S. Department of Justice and Commodity Futures Trading Commission regarding their investigations into interbank offered rate submissions and transactions involving Libyan counterparties, with a view to resolving the probes within weeks.

The French banking group said it has booked a provision for disputes of €2.3 billion as of 2017-end under International Financial Reporting Standards, of which approximately €1 billion will be allocated to the IBOR and Libyan matters.

SocGen Deputy CEO Didier Valet earlier resigned due to a "divergence of approaches regarding the management of a specific legal matter," which is reportedly linked to a case with U.S. authorities over the alleged rigging of the Euro and London Interbank Offered Rates.

The bank is involved in two other legal cases with U.S. authorities: one related to transactions with the Libyan Investment Authority, and the other over U.S. sanction busting.