Société Générale was at the centre of a financial scandal in 2009. The bank denied those accusations. January 2008: Trading loss incident (Kerviel Fraud) On January 24, 2008, the bank announced that a single futures trader at the bank had fraudulently lost the bank €4.9 billion (an equivalent of US$7.2 billion), the largest such loss in history. The company did not name the trader, but other sources identified him as Jérôme Kerviel, a relatively junior futures trader who allegedly orchestrated a series of bogus transactions that spiraled out of control amid turbulent markets in 2007 and early 2008. Partly due to the
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.