LONDON (Reuters) - Bank of England Governor Mervyn King Bank is expected to Members asked him to resign the role of Barclays CEO Bob Diamond interest scandal rocking the reputation of London as a financial center.
Thing of the London Interbank Offered Rate is not official Tuesday 10 our country will be hearing agenda Treasury Select Committee is expected to question the king, his deputy, Paul Tucker, the top regulator Adair Turner and other officials on the bank's financial stability report and plan to get the flow of credit.
Marathon meetings with the senior management of the former Barclays Bank and other regulatory bodies, members of Congress will not miss the opportunity, according to when he first suspected the London Interbank Offered Rate may be rigged, why did he intervene to relieve the king of slow diamond.
Monday, Turner told the Commission that he had conveyed to the Barclays chairman Marcus Agius, Diamond should leave be surprised, then Agius decided to step down.
The legend of the London Interbank Offered Rate may mask a predetermined theme, hearing the need for additional significance from Tucker and Turner are considered to be a strong competitor, and success in charge of the Bank of England in next year's king.
Ministry of Public Security will also be taken in the recent measures to ease the liquidity constraint of slow bank, in order to get more credit flowing through the economic recession hit Donald Cohen, a member of the Economic and Fiscal Policy Committee and the directors of the bank, Paul Fisher views.
"Grafting"
Barclays admitted that the scandal of the contribution of traders to manipulate the London interbank bank interest rates, or the London Interbank Offered Rate, in the bank to lend to each other, as many other interest rates and contract benchmark interest rate.
Happened only a few days after, the king launched an angry attack of the British banking culture, said things have been laughing at him to take the "grafting" the industry to make money very wrong.
Diamond stepped down four days later, Agius, Barclays chairman, confirmed in his committee appearance of King intervention, said Governor "very plain, diamonds are no longer enjoy the support of his supervision.
But then the ECB itself when the drag from the memorandum of diamonds in 2008, seems to imply that the central bank Deputy Governor Tucker condone collusion rate.
The Treasury Committee has found no evidence grilled Tucker, Andrew Tyrie, chairman of the committee, but leave no doubt that he has not questioned the handling by the central bank about the quality of the London Interbank Offered impressed.
(Monday), Jerry Del Missier, Barclays' chief operating officer to resign, told the Commission that he ordered the operation rate of staff instructions, he was the boss of diamonds, diamonds and Tucker talk.
King - who has worked with many Tyrie in the past temper exchange - is the key interest rate worries whether the central bank full ball in 2008 by the Bank and the United States regulatory agencies may face more problems.
Revelation, the New York Federal Reserve Bank President Tim Geithner had advised the King to overhaul the London Interbank Offered Rate has been raised over the supervision of the benchmark interest rate is already too loose.
London Interbank Offered Rate from the budget estimates, they believe that they have to pay to borrow each other's big banks. It is used for the $ 550 trillion interest rate derivatives contracts and mortgages, student loans and credit card interest rates.



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