Trader held over £600m loss at French bank

Authorities want to know if a crime had been committed during the incident, which involved derivatives trading. The bank's top three executives have all resigned since the loss, which was initially put at €600m, came to light earlier this month. It echoes an incident in which €4.9bn was lost at France's Societe Generale as a result of the actions of trader Jerome Kerviel. The Caisse d’Epargne loss was made public soon after the bank had set out plans to merge with French rival, Banque Populaire. Caisse d’Epargne bet that stock markets would rise just as the financial uncertainty t...