Barclays released a document suggesting that an official from the Bank of England, under pressure from the U.K. government in 2008, may have encouraged the bank to lower its submission for calculating the London interbank offered rate, or Libor.
Barclays (NYSE: BCS), the U.K.'s second-largest bank by assets, had a miserable week. After settling with authorities for $435 million over manipulating Libor, the British interbank lending rate, chairman Marcus Agius resigned.
LONDON (Reuters) - Barclays Plc revealed a new regulatory probe and more U.S. lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks.
July 10 (Bloomberg) -- The Federal Reserve Bank of New York was aware of potential issues involving Barclays Plc and the London interbank offered rate after the financial crisis began in 2007, according to a statement from the district bank.
Britain's biggest bank allowed rogue states and drugs cartels to launder billions of pounds through its branches. HSBC stands accused of fostering such a 'polluted' culture it became a conduit for criminal enterprises.