LONDON (MNI) – Bank of England Deputy Governor Paul Tucker will
appear before the House of Commons Treasury Select Committee on Monday
in order to answer questions about the Barclay’s LIBOR affair.
Tucker, widely regarded as the BOE’s leading candidate for the
Governorship when Mervyn King’s term comes to an end in June 2013, had
himself requested an appearance before the TSC in order to clarify
details of a conversation he had with former Barclays CEO Bob Diamond
about the bank’s LIBOR submissions.
Diamond lifted some of the pressure on Tucker when he appeared
before the TSC on Wednesday. Diamond denied that Tucker had either
instructed him, or given him a “nod and a wink”, to go ahead and reduce
Libor rates back in 2008. A note by Diamond of a conversation between
him and Tucker has made headline news here and was interpreted by some
as Tucker encouraging Barclays to reduce its LIBOR quotes.
But Diamond refuted this interpretation.
The Treasury Select Committee will also take evidence from
Barclays’ Executive Chairman Marcus Agius on Tuesday 10 July at 0900GMT.
–London newsroom: tel: +4420 7862 7492 email:ukeditorial@marketnews.com
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