Bloomberg News

Diamond Didn’t Believe Barclays Asked to ‘Fiddle’ Submissions

July 04, 2012

Former Barclays Plc (BARC) Chief Executive Officer Robert Diamond said he doesn’t believe officials in government wanted his bank to “fiddle” its Libor submissions and that he had several conversations with Bank of England official Paul Tucker about funding costs.

“I did not believe that,” Diamond told the Treasury Committee of the House of Commons in London today when asked whether he though the government had asked him to artificially lower its reported Libor rates.

“It was not the first conversation with Paul about the level of funding,” Diamond said.

To contact the reporter on this story: Gonzalo Vina in London at gvina@bloomberg.net

To contact the editor responsible for this story: Eddie Buckle at ebuckle@bloomberg.net


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