CLARIFICATION BY JEAN-PAUL CHIFFLET, CEO OF CREDIT AGRICOLE S.A.

On 25 January, a German newspaper, and subsequently a blog hosted on the lemonde.fr website, mentioned an alarmist report on the solidity of the European banking system, the French banking system and Crédit Agricole in particular. 

This report, based on incorrect assumptions, mainly demonstrates the total ignorance of its authors about the organisation and financial structure of the Crédit Agricole Group and their vague grasp of prudential matters. However, the report was incorrectly attributed to the OECD, and this may have misled various media outlets and commentators, even though the OECD immediately distanced itself from the report.

On behalf of the Group, I reserve the right to take action in the relevant courts against any person, organisation or media outlet that damages the reputation and interests of the Group by helping to spread doubts about the Group's solidity.

Crédit Agricole will continue to demonstrate its solidity and solvency in its day-to-day activities.