Paris - A trader believed to have been responsible for a loss of 751 million euros (954 million dollars) to the French bank Caisse d'Epargne has been taken into police custody, France Info radio reported on Wednesday.

No details were available regarding the trader's identity or the charges he may face.

The loss was reported by in mid-October and incurred the wrath of President Nicolas Sarkozy, who demanded that the bank's senior managers "take responsibility." As a result, Caisse d'Epargne head Charles Milhaud and two other highly placed executives resigned.

The bank said that the bulk of the loss occurred in the trading of derivatives during the week of October 6, when the Paris Bourse's CAC 40 blue-chip index lost more than 22 per cent of its value.

In January of this year, the bank Societe Generale reported that it had suffered a loss of 4.9 billion euros, which it blamed on unauthorized trades carried out by a single trader, Jerome Kerviel.

Kerviel is currently awaiting trial on several charges, including abuse of trust. (dpa)