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Barclays Website Discloses Phone Conversation Regarding Libor Rate Setting

in International Business

Barclays Website Discloses Phone Conversation Regarding Libor Rate Setting

Barclays reveals a phone conversation between then CEO Bob Diamond and the Deputy governor of the Bank of England.

In the conversation, Mr. Tucker is heard telling the bank its setting of the Libor inter-bank rate need not be as high.

Barclays said Mr. Diamond did not view his comments as instruction. However, the phone conversation serves as a new evident to the Treasury Committee, where Mr. Diamond is expected to expand on conversations with the Bank of England over the Libor issue.

According to Barclays, Mr. Diamond relayed the conversation to Chief Operating Officer Jerry del Missier.

Although Mr Diamond did not believe Mr Tucker was instructing Barclays to manipulate its Libor rate, it is possible that Mr del Messier concluded it was, the bank said.


Tags assigned to this article:
Barclays Libor scandalJerry del Missier

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