2008 Société Générale trading loss the bank. Kerviel joined the middle offices in the bank Société Générale in the summer of 2000, working in its compliance department. In 2005 he was promoted to the bank's Delta One products team in Paris where he was a junior trader. Société Générale’s Delta One business includes program trading, exchange-traded funds (ETFs), swaps, index and quantitative trading. Bank officials claim that throughout 2007, Kerviel had been trading profitably in anticipation of falling market prices; however, they have accused him of exceeding his authority to engage in unauthorized trades totaling as much as €49.9 billion, a figure far higher than
Livret A offered by La Banque Postale and the Groupe Caisse d'Épargne as of 2008. Since January 2009, it has been offered by all French banks. As of 2015, only one account may be held by an individual, with an amount from 10 Euros to 22,950 Euros. During the French presidential election, 2012, François Hollande, who was elected as the President of France, announced his intention to raise the individual amount to 30,600 Euros to build 150,000 new HLMs. In 2008, 46 million French citizens or residents owned a Livret A, for a total amount of 128,1 billion Euros in late 2007.