法國興業(yè)銀行(Société Générale)昨日披露，該行遭遇了銀行業(yè)歷的一宗欺詐案，成為一位流氓交易員的受害者，迫使該行緊急發(fā)起55億歐元（合80億美元）的融資行動(dòng)。法國興業(yè)銀行是法國金融業(yè)的一個(gè)支柱，也是歐洲盈利最豐厚的銀行之一。
Société Générale, a pillar of French finance and one Europe’s most profitable banks, yesterday revealed it had fallen victim to a rogue trader in the biggest fraud in banking history, forcing it to launch an emergency €5.5bn ($8bn) cash call.
這是一宗簡單而狡猾的欺詐案，31歲的巴黎交易員杰洛米?科維爾(Jér?me Kerviel)被指為始作俑者。他昨天不知去向。
The simple yet sophisticated fraud was being blamed on a Paris-based 31-year-old trader, Jér?me Kerviel. His whereabouts yesterday were unknown.
科維爾對(duì)歐洲股市未來的走向投下了巨額籌碼，并創(chuàng)設(shè)了虛假的對(duì)沖頭寸，以掩蓋自己的操作蹤跡。這宗欺詐案導(dǎo)致該行損失49億歐元。法國興業(yè)銀行迅速解除了他聚斂的股票衍生品頭寸，預(yù)計(jì)總金額在500億至700億歐元之間。
In effect, Mr Kerviel bet billions of euros on future movements in European stock markets and created fictitious hedging positions to cover his tracks in a fraud that has cost the bank €4.9bn. SocGen quickly unwound the equity derivative positions he had amassed, estimated to have totalled between €50bn and €70bn.
有關(guān)周一解除頭寸的細(xì)節(jié)引發(fā)人們猜測，法國興業(yè)銀行低價(jià)賤賣這些頭寸是導(dǎo)致全球股市周一大幅下跌的原因。此次下跌促使美聯(lián)儲(chǔ)(Fed)周二大幅降息。直至周三，美聯(lián)儲(chǔ)才從法國央行(Banque de France)和法國金融市場管理局(AMF)獲悉興業(yè)銀行的問題。
Details of their trades on Monday prompted speculation that reaction to SocGen’s firesale contributed to the heavy stock market falls on Monday which provoked the US Federal Reserve’s dramatic interest rate cut on Tuesday. The Fed was not told of the SocGen problem until Wednesday, when it was informed by the Banque de France and the French regulator, the AMF.
不過，興業(yè)銀行否認(rèn)其平倉行為導(dǎo)致市場下跌，因?yàn)樗鼘⑵絺}交易量控制在市場交易總量的10%左右。分析師也指出，在該行開始拋售之前，市場已經(jīng)開始下跌，主要是因?yàn)閾?dān)心美國債券保險(xiǎn)商的問題。
But SocGen denied that its covering operations precipitated the market fall because it kept them to about 10 per cent of trading volumes. Analysts also pointed out that markets were falling – not least because of fears over US bond insurers – before it could have begun selling.
這宗欺詐案使另一條消息相形見絀：興業(yè)銀行昨日宣布，美國抵押貸款危機(jī)導(dǎo)致其損失20億歐元，比幾周之前預(yù)期的損失高出數(shù)倍。該行執(zhí)行董事長溥敦(Daniel Bouton)和投資銀行主管讓-皮埃爾?馬斯蒂爾(Jean-Pierre Mustier)已經(jīng)提交了辭呈，但均被董事會(huì)否決。
The fraud also overshadowed SocGen’s announcement yesterday of a €2bn hit from the US mortgage crisis, several times higher than the impact it estimated only a few weeks ago. Both Daniel Bouton, the executive chairman, and Jean-Pierre Mustier, head of the investment bank, tendered their resignation but had their offer rejected by the board.
雖然該行在上周末就發(fā)現(xiàn)了問題，但它一直等到自己能夠解除頭寸，才對(duì)外公布相關(guān)問題的嚴(yán)重性。這一丑聞?wù)痼@了法國各界高層，但其成員迅速團(tuán)結(jié)起來支持該銀行。
Although it discovered the problem at the weekend, SocGen waited until it could unwind the trades before revealing their extent. The scandal has shocked the French establishment which quickly closed ranks to support the bank.
Société Générale, a pillar of French finance and one Europe’s most profitable banks, yesterday revealed it had fallen victim to a rogue trader in the biggest fraud in banking history, forcing it to launch an emergency €5.5bn ($8bn) cash call.
這是一宗簡單而狡猾的欺詐案，31歲的巴黎交易員杰洛米?科維爾(Jér?me Kerviel)被指為始作俑者。他昨天不知去向。
The simple yet sophisticated fraud was being blamed on a Paris-based 31-year-old trader, Jér?me Kerviel. His whereabouts yesterday were unknown.
科維爾對(duì)歐洲股市未來的走向投下了巨額籌碼，并創(chuàng)設(shè)了虛假的對(duì)沖頭寸，以掩蓋自己的操作蹤跡。這宗欺詐案導(dǎo)致該行損失49億歐元。法國興業(yè)銀行迅速解除了他聚斂的股票衍生品頭寸，預(yù)計(jì)總金額在500億至700億歐元之間。
In effect, Mr Kerviel bet billions of euros on future movements in European stock markets and created fictitious hedging positions to cover his tracks in a fraud that has cost the bank €4.9bn. SocGen quickly unwound the equity derivative positions he had amassed, estimated to have totalled between €50bn and €70bn.
有關(guān)周一解除頭寸的細(xì)節(jié)引發(fā)人們猜測，法國興業(yè)銀行低價(jià)賤賣這些頭寸是導(dǎo)致全球股市周一大幅下跌的原因。此次下跌促使美聯(lián)儲(chǔ)(Fed)周二大幅降息。直至周三，美聯(lián)儲(chǔ)才從法國央行(Banque de France)和法國金融市場管理局(AMF)獲悉興業(yè)銀行的問題。
Details of their trades on Monday prompted speculation that reaction to SocGen’s firesale contributed to the heavy stock market falls on Monday which provoked the US Federal Reserve’s dramatic interest rate cut on Tuesday. The Fed was not told of the SocGen problem until Wednesday, when it was informed by the Banque de France and the French regulator, the AMF.
不過，興業(yè)銀行否認(rèn)其平倉行為導(dǎo)致市場下跌，因?yàn)樗鼘⑵絺}交易量控制在市場交易總量的10%左右。分析師也指出，在該行開始拋售之前，市場已經(jīng)開始下跌，主要是因?yàn)閾?dān)心美國債券保險(xiǎn)商的問題。
But SocGen denied that its covering operations precipitated the market fall because it kept them to about 10 per cent of trading volumes. Analysts also pointed out that markets were falling – not least because of fears over US bond insurers – before it could have begun selling.
這宗欺詐案使另一條消息相形見絀：興業(yè)銀行昨日宣布，美國抵押貸款危機(jī)導(dǎo)致其損失20億歐元，比幾周之前預(yù)期的損失高出數(shù)倍。該行執(zhí)行董事長溥敦(Daniel Bouton)和投資銀行主管讓-皮埃爾?馬斯蒂爾(Jean-Pierre Mustier)已經(jīng)提交了辭呈，但均被董事會(huì)否決。
The fraud also overshadowed SocGen’s announcement yesterday of a €2bn hit from the US mortgage crisis, several times higher than the impact it estimated only a few weeks ago. Both Daniel Bouton, the executive chairman, and Jean-Pierre Mustier, head of the investment bank, tendered their resignation but had their offer rejected by the board.
雖然該行在上周末就發(fā)現(xiàn)了問題，但它一直等到自己能夠解除頭寸，才對(duì)外公布相關(guān)問題的嚴(yán)重性。這一丑聞?wù)痼@了法國各界高層，但其成員迅速團(tuán)結(jié)起來支持該銀行。
Although it discovered the problem at the weekend, SocGen waited until it could unwind the trades before revealing their extent. The scandal has shocked the French establishment which quickly closed ranks to support the bank.