New Barclays boss Antony Jenkins has insisted the bank remains "strong and well-positioned" despite a torrent of reputation-scarring scandals and a £47 million quarterly loss.
Delivering his first set of results today since taking over from Bob Diamond in the wake of the Libor-fixing affair, Mr Jenkins accepted the lender had "much to do to restore trust among stakeholders."
The former chief operating officer at Barclays, Jerry del Missier, will give evidence to the Treasury Select Committee today as part of its probe into the Libor rate rigging scandal.
Mr Del Missier is likely to be asked whether he was under the impression that there were instructions to lower the bank's Libor rate coming from the Bank of England or Whitehall.
The chairman of the Financial Services Authority (FSA) Lord Turner will also give evidence on whether he issued such instructions and why the rate rigging wasn't noticed sooner.
The Chairman of the Financial Services Authority (FSA), Lord Turner, has said he is reviewing how wholesale markets are supervised following the Libor rate-fixing scandal. The forthcoming FSA probe into rate-fixing is one of two investigations in the wake of the Barclays scandal.
The FSA was criticised for not bringing criminal charges against Barclays or its traders who rigged the Libor interest rate. Lord Turner said:
At the FSA's last annual meeting Lord Turner said: "shoddy wholesale practice is not a victimless act, even in those cases where it is not defined as a crime."
The chairman of Barclays Bank Marcus Agius was tonight reported to be on the brink of stepping down as the row intensified over the Libor rate-fixing scandal, according to reports. The bank declined to comment on the suggestions.
The development came as Business Secretary Vince Cable backed calls for a criminal investigation into bankers involved in the affair.
It is understood the sacked men are traders Paul White and Neil Danziger, investment adviser Andrew Hamilton and Tan Chi Min, who used to work for RBS in Singapore.
Former Royal Bank of Scotland chairman Sir George Matthewson told the BBC today that the sacking of four RBS traders was the "correct response" but that it also raised many questions. Mr Matthewson said:
Today's Observer newspaper said that in a 28-page statement of facts relating to the case, the US Department of Justice disclosed how a network of trader working on both sides of the Atlantic conspired to influence the interbank lending rate.
The document reportedly states that the collusion between traders across a range of banks, including Barclays, took place from at least August 2005 through to at least May 2008.
It said that the interbank communications included ones in which certain Barclays swaps traders communicated with former Barclays swap traders who had left the bank and joined other financial institutions.
Royal Bank of Scotland sacked four of its traders at the end of last year over their alleged role in the Libor-fixing scandal, sources said. Two of the traders were removed from their posts in October and a third the following month. RBS has not commented on the sackings.
The revelation comes after the bank confirmed it is being investigated for manipulating the rates at which banks lend to each other.