这项由英国上下两院联合展开的调查，将于今年年底前公布报告
伦敦银行间同业拆借利率(Libor)丑闻
LIBOR[LIBOR]
発音記号[líbər]
[名]ライボー：ロンドンのユーロ市場における銀行間の出し手金利.
［London Interbank Offered Rate］
3 July 2012
Last updated at 13:57 GMT
Bob Diamond's severance package is still under discussion, Barclays says
Mr Diamond said he was stepping down because the external pressure on the bank risked "damaging the franchise".
Chief operating officer Jerry del Missier has also resigned, the third top executive in two days to do so.
Barclays chairman Marcus Agius, who had announced his own resignation on Monday, will now take over the running of Barclays until a new chief executive is appointed.
'Cynical greed' BBC business editor Robert Peston said the heads of the City's two main regulators had been unable to force Mr Diamond out "because the recent FSA investigation into how Barclays attempted to rig the important Libor interest rates did not find him personally culpable".
"The cynical greed of traders asking their colleagues to falsify their Libor submissions so that they could make bigger profits - has justifiably shocked and angered people, in particular when we are facing hard economic times provoked by the financial crisis," he told the Financial Services Authority's annual meeting.
Committee appearance
He is expected to be questioned about a conversation he had with the deputy governor of the Bank of England, Paul Tucker, about Barclays' Libor submissions at the height of the credit crunch in 2008.
Barclays' managers came to believe, after the conversation between Mr Diamond and Mr Tucker, that the Bank of England had sanctioned them to lie about what they were paying to borrow when providing data to the committees that set the Libor rate.
Inquiry row Chancellor George Osborne welcomed Mr Diamond's departure and said he hoped it was the "first step towards a new culture of responsibility" in banking.
Continue reading the main story
"But this is about much more than one individual, it's about the culture and practices of the banking industry," he said.
"That's why we need a full, judge-led, independent inquiry, to get to the bottom of those practices and make recommendations for change in the future. We've had missed opportunities before, we've got to seize this moment."
Labour is critical of the government's decision to call a parliamentary inquiry, chaired by the head of the Treasury Committee, Andrew Tyrie MP, rather than a full Leveson-style inquiry, independent of politicians.
Big pay-off? Last week, regulators in the US and UK fined Barclays £290m ($450m) for attempting to rig Libor and Euribor, the interest rates at which banks lend to each other, which underpin trillions of pounds worth of financial transactions.
The details of any severance package are not yet known, but former City minister Lord Myners suggests it could add up to £20m-£30m.
"I think his resignation letter is drafted with an eye to that [pay-off], because he admits no guilt on his part at all," the Labour peer told BBC News.
"The shareholders of Barclays will be expecting the board to ensure that not a penny more is paid to Bob Diamond than that to which he is legally entitled," he said.
US-born Mr Diamond was head of Barclays Capital, its investment bank division, when its staff were trying to manipulate the key inter-bank rates.
"He maintains that he didn't know what was going on," says Robert Peston.
Investigations are continuing in the UK and the US into other banks over Libor fixing, including criminal investigations by the Department of Justice. The Serious Fraud Office in the UK is looking into possible criminal prosecutions.
Barclays boss Bob Diamond resigns amid Libor scandal
Bob Diamond's severance package is still under discussion, Barclays says
Barclays
chief executive Bob Diamond has resigned a week after the bank was
fined a record amount for trying to manipulate inter-bank lending rates.
BBC business editor Robert Peston said he was encouraged to go by the heads of the Bank of England and the FSA. Mr Diamond said he was stepping down because the external pressure on the bank risked "damaging the franchise".
Chief operating officer Jerry del Missier has also resigned, the third top executive in two days to do so.
Barclays chairman Marcus Agius, who had announced his own resignation on Monday, will now take over the running of Barclays until a new chief executive is appointed.
'Cynical greed' BBC business editor Robert Peston said the heads of the City's two main regulators had been unable to force Mr Diamond out "because the recent FSA investigation into how Barclays attempted to rig the important Libor interest rates did not find him personally culpable".
Continue reading the main story
“Start Quote
It is a soap opera like no other I can remember in my 30 years of reporting on the City”
"However, as a regulated
institution, it was impossible for Barclays' board to ignore the
revealed wishes of the two most powerful regulators in the City."
Earlier, Lord Turner, the chairman of the Financial Services
Authority, described the outrage that has built up over the bank's
actions."The cynical greed of traders asking their colleagues to falsify their Libor submissions so that they could make bigger profits - has justifiably shocked and angered people, in particular when we are facing hard economic times provoked by the financial crisis," he told the Financial Services Authority's annual meeting.
Committee appearance
Continue reading the main story
•28 June: Barclays shares plunge 15%
•29 June: Bank of England governor calls for change in banking culture
•1 July: It emerges that RBS has sacked four traders over Libor and there are calls for changes in the law to cover Libor-rigging
•2 July: Barclays chairman Marcus Agius resigns and the government launches two inquiries into Libor and banking standards
•3 July: Barclays chief executive Bob Diamond resigns
How Libor scandal developed
•27 June: Barclays fined £290m by US and UK regulators for attempting to manipulate Libor rates•28 June: Barclays shares plunge 15%
•29 June: Bank of England governor calls for change in banking culture
•1 July: It emerges that RBS has sacked four traders over Libor and there are calls for changes in the law to cover Libor-rigging
•2 July: Barclays chairman Marcus Agius resigns and the government launches two inquiries into Libor and banking standards
•3 July: Barclays chief executive Bob Diamond resigns
Mr Diamond will still appear before MPs on the Treasury Committee on Wednesday to answer questions about the Libor affair.
"I look forward to fulfilling my obligation to contribute to
the Treasury Committee's enquiries related to the settlements that
Barclays announced last week without my leadership in question," Mr Diamond said in a statement.He is expected to be questioned about a conversation he had with the deputy governor of the Bank of England, Paul Tucker, about Barclays' Libor submissions at the height of the credit crunch in 2008.
Barclays' managers came to believe, after the conversation between Mr Diamond and Mr Tucker, that the Bank of England had sanctioned them to lie about what they were paying to borrow when providing data to the committees that set the Libor rate.
Inquiry row Chancellor George Osborne welcomed Mr Diamond's departure and said he hoped it was the "first step towards a new culture of responsibility" in banking.
Continue reading the main story
Crisis jargon buster
Use the dropdown for easy-to-understand explanations of key financial terms:
Libor
London Inter Bank Offered Rate. The rate
at which banks in London lend money to each other for the short-term in
a particular currency. A new Libor rate is calculated every morning by
financial data firm Thomson Reuters based on interest rates provided by
members of the British Bankers Association.
"It is the right decision for the
country," Mr Osborne said, saying the UK needed a strong Barclays
concentrating on lending and contributing to economic recovery.
Labour leader Ed Miliband said it was "necessary and right" that Bob Diamond stepped down. "But this is about much more than one individual, it's about the culture and practices of the banking industry," he said.
"That's why we need a full, judge-led, independent inquiry, to get to the bottom of those practices and make recommendations for change in the future. We've had missed opportunities before, we've got to seize this moment."
Labour is critical of the government's decision to call a parliamentary inquiry, chaired by the head of the Treasury Committee, Andrew Tyrie MP, rather than a full Leveson-style inquiry, independent of politicians.
Big pay-off? Last week, regulators in the US and UK fined Barclays £290m ($450m) for attempting to rig Libor and Euribor, the interest rates at which banks lend to each other, which underpin trillions of pounds worth of financial transactions.
Continue reading the main story
“Start Quote
Libor is to banking what the Millie Dowler case was to phone hacking”
Staff did this over a number of
years, trying to raise them for profit and then, during the financial
crisis, lowering them to hide the level to which Barclays was under
financial stress.
Mr Diamond is one of the UK's highest paid chief executives,
earning £20m last year, and was described as "the unacceptable face" of
banking by the then business secretary Lord Mandelson in 2010. The details of any severance package are not yet known, but former City minister Lord Myners suggests it could add up to £20m-£30m.
"I think his resignation letter is drafted with an eye to that [pay-off], because he admits no guilt on his part at all," the Labour peer told BBC News.
"The shareholders of Barclays will be expecting the board to ensure that not a penny more is paid to Bob Diamond than that to which he is legally entitled," he said.
US-born Mr Diamond was head of Barclays Capital, its investment bank division, when its staff were trying to manipulate the key inter-bank rates.
"He maintains that he didn't know what was going on," says Robert Peston.
Investigations are continuing in the UK and the US into other banks over Libor fixing, including criminal investigations by the Department of Justice. The Serious Fraud Office in the UK is looking into possible criminal prosecutions.
沒有留言:
張貼留言