Reuters: Regulatory News: SocGen says no wrongdoing yet found in Euribor probe

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SocGen says no wrongdoing yet found in Euribor probe Jul 18th 2012, 22:10 PARIS, July 18 | Wed Jul 18, 2012 6:10pm EDT PARIS, July 18 (Reuters) - Societe Generale has been contacted as part of a broad probe into the alleged manipulation of interbank lending rates but there has so far been no allegation of wrongdoing against the French bank, a spokeswoman said on Wednesday. Earlier on Wednesday, the Financial Times reported that traders from Societe Generale, HSBC, Deutsche Bank and Credit Agricole had been linked with a Barclays trader under scrutiny for the attempted manipulation of the region's benchmark interest rate. Societe Generale, France's No. 2 bank, first disclosed in March that it had received requests for information from U.S. and European regulators as part of an investigation into Euribor, the euro interbank rate which is similar to Libor. "We are completely and fully cooperating," the spokeswoman said. "The investigation continues but at this point there has been no allegation against us." Bank of France head Christian Noyer has said he was unaware of any complaint against French banks alleging fixing global benchmark interbank lending rates. The French banks were questioned in the probe and "apparently the answers were satisfying because there was not any follow-up," he said earlier on Wednesday. Credit Agricole and HSBC could not immediately be reached for comment on the Financial Times story. Barclays, which two weeks ago agreed to pay about $451.6 million to U.S. and British regulators to resolve rate manipulation allegations, declined comment as did Deutsche Bank. Link this Share this Digg this Email Reprints

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