Credit Agricole resigns as Category 2 member of LME

LONDON Tue Feb 19, 2013 12:06pm EST

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LONDON Feb 19 (Reuters) - Credit Agricole, France's No.3 bank, has resigned as a Category 2 member of the London Metal Exchange, the LME said on Tuesday.

The bank announced 3.8 billion euros ($5.2 billion) in charges this month as banks struggle to move on from ill-timed deals before the 2008 financial crisis.

Category 2 members are entitled to trade on the electronic LMESelect and the telephone market, but may not trade in the open outcry ring. (Reporting by Susan Thomas; editing by James Jukwey)

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