August 25, 2017 / 6:39 AM / a year ago

France's SocGen says it is co-operating over U.S. Libor probe

PARIS (Reuters) - French bank Societe Generale (SOGN.PA) said on Friday it was co-operating with authorities after U.S. authorities charged two managers with taking part in a scheme to manipulate the global U.S. dollar Libor benchmark interest rate.

The logo of the French bank Societe Generale is seen in front of the bank's headquarters building at La Defense business and financial district in Courbevoie near Paris, France, April 21, 2016. REUTERS/Gonzalo Fuentes/File Photo

“Societe Generale has received formal requests for information from several authorities, including the U.S. Department of Justice, in connection with investigations regarding submissions to the British Bankers Association for setting certain benchmark rates, including the London Interbank Offered Rates (LIBOR),” it said in a statement.

“Societe Generale is cooperating with the investigating authorities,” it added.

Danielle Sindzingre, 54, the bank’s former global head of treasury, and her subordinate Muriel Bescond, 49, its former head of treasury in Paris, were accused in an indictment filed in a New York federal court of submitting false information about the rates at which the bank was able to borrow money.

Reporting by Sudip Kar-Gupta; editing by Richard Lough

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