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, faced a grilling by British lawmakers on Monday as part of a probe into the Libor interest rate rigging scandal atFollowing are comments from Tucker from the hearing in parliament's Treasury Select Committee:board that as the institution that was in the spotlight and found responsible for the terrible practice that they needed to take decisive action to start the process of cleaning it up."The events...
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rose against most major currencies last week as central banks took synchronized moves to cut interest rates in a bid to prop up weakening economies.The...
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deputy governor Paul Tucker has spent his entire career at the central bank, almost all of it liaising with financial markets - but now the rate-fixing scandal engulfing British banks risks thwarting his ambition to get the top job.Beneath a slightly rumpled exterior that led one columnist to describe him as a "cerebral Winnie the Pooh", there is a confident, almost patrician manner twinned with a...
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British politicians and officials knew about interest rate rigging will intensify on Monday as the man tipped to be the nextand other banks suspected of manipulating Libor, the interbank lending rate that underpins trillions of dollars of contracts around the globe. He appears at 1530 GMT.Earlier this month, Barclays was fined a record $450 million by U.S. and UK regulators for conspiring to rig Libor...
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