MPs' Libor report scathing

The influential Treasury Select Committee has concluded ex-Barclays boss Bob Diamond was "highly selective" when he gave evidence to MPs on the Libor fixing scandal, and criticised the Bank of England and the FSA for their "failings" on the matter.

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Ex-Barclays chief Diamond's Libor evidence deemed 'highly selective'

Former Barclays CEO Bob Diamond's evidence to MPs last month was "highly selective," according to a report released by an influential Parliamentary committee today.

The Treasury Select Committee concluded that the evidence given by Mr Diamond on the Libor fixing scandal had fallen well short of parliamentary standards.

The MPs' report reveals the initial findings of an investigation into the circumstances that surrounded the fixing of Libor - the London Interbank Offer Rate - which sets inter-bank lending prices.

The report also concluded that "it is high unlikely Barclays was the only bank attempting this".

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