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A New York-based bank has sued the group of 16 banks, which set the Libor interest rate, claiming that recent allegations of Libor manipulation has cost the lender money in its lending operations.
Former Barclays Plc Chief Operating Officer (COO) Jerry del Missier on Monday testified that his former boss, Bob Diamond, instructed him to low ball the bank’s Libor submissions.
Robert Diamond, British banking giant Barclays Plc’s chief executive officer, resigned Tuesday in the widening Libor rate-fixing scandal plaguing the bank.
Marcus Agius, the chairman of UK’s second biggest bank Barclays Plc, has resigned amid a firestorm of pressure from stakeholders arising from the bank’s involvement in fixing interest rates several years ago.
The Treasury has ordered Barclays Bank to pay half-a-billion pounds in tax, which it claims the bank has deliberately avoided paying.
UK’s second largest bank by assets, Barclays Plc, is setting some precedents in the banking industry for its “no jerks” policy in the company.
Royal Bank of Scotland (majority-owned by the U.K. government), Lloyds TSB, Barclays, and HSBC fund companies producing cluster bombs despite international treaties.
UK’s 4 major banks make profit in the same week for first time since credit crunch.
Royal Bank of Scotland has been fined 28.6 million pounds by U.K. authorities for sharing confidential securities pricing information with Barclays Plc,
Lehman Brothers is in the process of filing for bankruptcy, sources say.
