The French bank said in a statement that dealings with the U.S. Department of Justice and the Commodity Futures Trading Commission were approaching a conclusion.
“Societe Generale has entered into a phase of more active discussions with these US authorities with a view to reaching a resolution of these two matters within the coming weeks,” the bank said as reported by Reuters.
On Thursday, a source close to the bank told Reuters the sudden departure of deputy chief executive Didier Valet was agreed as part of the negotiations with U.S. authorities on a financial settlement over the Libor submissions.
Societe Generale said that it could not determine the financial impact of disputes and that as of Dec 31, 2017, it had booked in a 2.3 billion euro (US$2.8 billion) provision for all disputes into its financial statements.
Within this provision is approximately 1 billion euros that is allocated to the Libor and Libyan investigations, the bank said.