LONDON (Reuters) - Barclays Bank Chief Executive Officer of Mervyn King said, he told it, the regulatory body has lost the confidence that Bob Diamond, Chief Executive of days ago, he resigned over its manipulation of interest rates, scandals and other refuse.
King, since 2003, central bank governor on Tuesday dismissed the allegations, he fell asleep at the helm, while Barclays Bank of traders trying to skew a benchmark interest rate, worth one trillion U.S. dollars in 2005 and 2009, the world of the underlying transaction.
Diamonds "to resign on July 3 last weekend, before the fate of his meetings and phone calls, and sealed Flurry of insight, but rejected from the recommended Treasury Select Committee Chairman Andrew Tyrie's intervention is similar to others a revolver pistol shooting, CEO of Barclays.
"I do not like the analogy of these guns, they are false," King of the parliamentary committee.
Tyrie After the hearing, said he remains concerned that the Board of Education "any pressure" to force insufficient checks on the ability of the bank executives.
King said he had consulted the Minister, George Osborne, prior to notification Barclays Bank, the regulatory body has lost confidence in the bank's senior management, diamonds shorthand.
Barclays board of directors has rejected the relevant regulatory authorities, concerned about the state of things, "the king appeared in his testimony, and sometimes even said with a smile.
Barclays Bank was fined $ 453 million last month by the U.S. and British authorities to manipulate the London interbank offered rate (LIBOR), short-term interest rates should be shown in the price of the major banks are willing to lend money to each other.
To prove the seriousness of the scandal, legislators on a regular basis to discuss financial stability and financial regulatory agencies - including the king, his deputy, Paul Tucker and the Financial Services Authority (FSA) chairman Adair Turner - the original almost entirely to the London Interbank Offered Rate barbecue.
The greed of the times?
Diamond was born in the United States fighting to save a few days, his career, but rapidly changing, it was decided the most powerful men in the City of London, he must go to save the further destabilization of the viscosity of Barclays.
Once the darling of the City of London, the active leadership of the diamond and ? 170,000 of the profit crunch times at odds with Europe, as the charge of their bonuses for the villains of the world economy cast bankers.
"We are all involved in the establishment of a genuine concern, it is a sail near the wind sailing close to double or even triple," said the king.
"But, when it reaches four or five times, becoming a regular pattern of behavior (and you) ... to ask the captain sailing skills."
Osborne said the Bank of London interbank interest scandal in the City of London and Wall Street greed and irresponsibility on the culture.
The king dismissed the allegations, he did not pick to manipulate the London Interbank Offered Rate, said he discovered the drawbacks of about two weeks ago and shot implied criticism of the U.S. authorities, London has been moving too slowly.
"First, I know that the London Interbank Offered Rate wrongful act is the FSA's report came out two weeks ago," said the king.
The diamond has apologized, the actions of his traders, but failed to listen to the warning of the London Interbank Offered Rate criticizing the regulators and central banks.
Do BOE deny it?
More than 2008 e-mail, and then New York Federal Reserve Bank President Timothy Geithner, sent to the King of the proposal to improve the questioning of the credibility of the London Interbank Offered Rate, the King said, the Fed has not put forward any evidence of wrongdoing.
Geithner's proposal on May 27, 2008, published by the World Bank's e-mail, including how to eliminate the incentive part of the banks' lending rates of false positives.
Treasury Select Committee, Labour MP John Mann, bluntly told the King, it appears, he also denied the wrongful act of the London Interbank Offered Rate.
"If it is so obvious, it is in all the newspapers, everyone is talking about it, one might ask the question, why everyone did not say this is wrong?" The king answered.
"The reason is because it is not illegal acts; it is not normal in a market, rather than operate in any effective way," said the king.
Although the king has the confidence and the composition of three hours of questioning, his deputy, Paul Tucker is a defense when, why he did not suspect that after 2008, the U.S. Federal Reserve in New York to talk about the steps to prevent "willful misrepresentation" in London Interbank Offered Rate London Interbank Offered Rate manipulate the press.
"There is no set off the alarm of dishonesty," Tucker said.
Tucker's favorite, King's work, from the diamond that until 2008, Tucker had connived at the collusion rate Memorandum of next year. Sponsored earlier hearing there is no evidence of this successful King Tuck the prospect of still hurt.
Man at Tuesday's hearing revealed that the e-mail between Tucker and diamond shows the relationship between regulators and bank boss chumminess.
"Congratulations, Well done, man, I really really proud of," Diamond said in an e-mail, in December 2008, Tucker was promoted to vice governor. Tucker replied: "Thank so Duo Baobo, you have been through this absolute brick."
More than 10 banks are investigating setting the London Interbank Offered Rate, including Citigroup, JP Morgan Chase, Deutsche Bank, HSBC, UBS and the Royal Scottish bank's role.
Morgan Stanley analyst to calculate each of the participating 16 $ 60 $ one hundred million and $ 1.1 billion London Interbank Offered Bank litigation risk.
LIBOR compiled by Thomson Reuters, the parent company of Reuters, the British Bankers' Association on behalf of the banks to submit.


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