Diamond 'dismayed' over claims

The former Barclays boss Bob Diamond has written to the Treasury Committee chairman saying he is "dismayed" over suggestions by members that he was "less than candid" when he gave evidence last week.

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PM: Bob Diamond's pay is a sign Barclays 'understands public concerns'

Responding to Mr Diamond's pay-off settlement, Prime Minister David Cameron's official spokesman has said:

This is a decision for Bob Diamond and for the board of Barclays. I think the decision to forgo the bonus is a sign that they understand public concerns and that they understand that there is a need for a change in the culture of banks.

– Prime Minister's spokesman

Barclay's chairman: I was not aware of rate-rigging until 2010

Marcus Agius was pressed about when he first realised that there may be an issue with the bank's Libor submissions. He said he was not aware until the FSA investigation started in 2010.

Asked how the rigging of such an important rate was not known to him, he has repeatedly blamed the "extraordinary circumstances" of the time when the financial crisis was in full swing:

Bob Diamond 'no longer enjoyed the support' of regulators

Marcus Agius has told MPs that the day before Bob Diamond's resignation he was summoned to the Bank of England to meet the governor Mervyn King. He said he was informed that Mr Diamond "no longer enjoyed the support of his regulators".

Mr Agius said the news came as a "shock" because the issue of Mr Diamond's position had not been mentioned earlier. He held a meeting by telephone with the Barclays board and he said the members of the board which "concluded that we had no choice but to call for his resignation".

He said he then broke the news to Mr Diamond, finishing the conversation "confident that if he hadn't already made the decision [to resign] that he would make the right decision".

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Marcus Agius resigned in part to save Bob Diamond

Marcus Agius has said that he resigned partly because he felt the alternative would be Bob Diamond's resignation, which was something that the board of Barclays did not want.

He also said: "I resigned because I felt responsible as the ultimate keeper of the bank's reputation".

Mr Agius has since been reinstated on a temporary basis to select Bob Diamond's successor.

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