• News Feeds
Page last updated at 09:15 GMT, Saturday, 18 August 2012 10:15 UK

Libor scandal: MPs demand changes over rate-rigging

MPs on the Treasury Select Committee have demanded wide-ranging changes in the wake of the Libor rate-fixing scandal. The committee says urgent improvements are needed to the way banks are run and regulated if public and market confidence is to be restored.

And they accuse ex-Barclays chief executive Bob Diamond of giving them "highly selective" evidence.

In a statement, Mr Diamond said he answered their every question truthfully.

Andrew Tyrie, the chairman of Treasury Select Committee said people could "make up their own minds", adding "...juxtapose what he (Bob Diamond) said, and then what others said about his evidence".

David Green, former head of international policy at the FSA and the former Bank of England official responsible for regulation said: "There does need to changes made but when you are dealing with the very top of the bank, it is not very straightforward... You are dealing with organisations in which public confidence needs to be maintained".

Get in touch with Today via email , Twitter or Facebook or text us on 84844.


Story Tools


Sign in

BBC navigation

Copyright © 2017 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific