French bank loses $800 million in 'trading incident'

PARIS: The French bank Caisse d'Epargne lost around USD 800 million in a derivatives trading "incident" during last week's market turmoil, the company said today in a statement.

"Because of the extreme volatility in the markets and the stock market crash of the week of October 6, the Caisse d'Epargne group underwent a major incident in the derivatives market," the statement said.