Libor

The Bank of England's deputy governor Paul Tucker has asked to be allowed to address the Treasury Select Committee following the revelation he contacted Bob Diamond to discuss Barclays' LIBOR submissions.

Banks should be subject to the same level of scrutiny as the trustees of pension funds, a consultancy says.

Barclays' submission of a memo to the Treasury Select Committee has revealed how Bank of England (BoE) officials advised the bank on LIBOR.

The resignation of Barclays CEO Bob Diamond does not lessen the possibility of criminal proceedings against those involved, Chancellor George Osborne has warned.

Barclays boss Bob Diamond has resigned from the bank with immediate effect, just one day ahead of a parliamentary hearing into his conduct following the LIBOR scandal.

The government has ordered a parliamentary inquiry into professional and cultural standards in British banking less than a week after Barclays was fined for attempting to fix Libor and its European equivalent, Euribor.

Barclays' record FSA penalty for LIBOR manipulation will be superseded by other banks' fines as the investigation deepens, according to Schroders' Richard Buxton.

HBOS is understood to be at the centre of Lloyds's admission it is one of several banks being investigated by US authorities for Libor manipulation.

Three European asset management firms have accused banks including Bank of America Corp., JPMorgan Chase & Co., HSBC Holdings Plc, Barclays Bank Plc and Credit Suisse Group AG of conspiring to manipulate Libor.

Citigroup Inc., Deutsche Bank AG, Bank of America Corp. and JPMorgan Chase & Co. have been asked by the SEC to make employees available as witnesses in a probe of potential interest-rate manipulation.