Tag: Bob Diamond

• Monday, January 20th 2014 - 22:26 UTC

  New body to regulate Libor; several big league banks fined for rate-rigging

  

  A new body has been appointed to administer Libor - the London Interbank Offered Rate. A subsidiary of the Intercontinental Exchange Group (ICE), a global network of exchanges and clearing houses, has been appointed to ensure Libor cannot be rigged by banks again.

• Monday, July 9th 2012 - 18:13 UTC

  Euro zone to tighten financial regulation following the Libor rigging scandal

  

  Michel Barnier, the European commissioner in charge of financial regulation, is expected to bring forward changes to his market abuse directive and regulation within in the next weeks, the Financial Times said on Monday.

• Monday, July 9th 2012 - 18:04 UTC

  BoE Tucker denies making any suggestions to Barclays on the Libor (in 2008)

  

  The deputy governor of the Bank of England (BoE) has said he did not give Barclays instructions to lower its Libor submissions in 2008. Paul Tucker said no government minister had asked him to “lean on” Barclays over its inter-bank lending rates. But he also told MPs that the BoE and the government feared that Barclays may need a bailout.

• Wednesday, July 4th 2012 - 23:00 UTC

  Libor rate manipulation: Barclays’ former CEO does not convince PMs and points to Bank of England

  

  British banker Bob Diamond has revealed that one of his big fears during the 2008 global credit crisis was that his bank, Barclays, would be taken over by the British government.

• Wednesday, July 4th 2012 - 05:58 UTC

  Barclays CEO resigns as the Libor rate fixing scandal widens

  

  UK Barclays chief executive Bob Diamond suddenly quit on Tuesday over an interest rate-rigging scandal that threatens to drag in a dozen more major lenders but suggested the Bank of England had encouraged his bank to manipulate the figures