SocGen Said Ready to Pay Up to $1 Billion to End U.S. Probes

Societe Generale SA is nearing an agreement to pay as much as $1 billion to resolve two U.S. probes — into the rigging of benchmark interest rates and allegations of bribery in Libya — according to people familiar with the matter.

The settlement deals with the U.S. Justice Department, which the people said could be announced as soon as the week of April 30, would end years of scrutiny that led to rate-rigging charges against Societe Generale traders and the departure of deputy CEO Didier Valet in March.

The Paris-based lender has agreed to pay about $800 million in penalties ...