Banking inquiry chair: 'Actions of a few have impugned the reputations of many'

Commenting on the proposals for the creation of a Parliamentary Commission on Banking Standards laid before the House of Commons, the head chair of the commission Andrew Tyrie said:

The proposal laid before the House of Commons today to create a Parliamentary Commission on Banking Standards has the support of the leaders of all three major parties. This is vital.

The recent scandals demonstrate the need for higher standards in banking.

The perpetrators of wrongdoing should be held fully accountable for their actions.

It is the fact that so many appear to have got off scot-free that really sticks in the gullet of the electorate.

The actions of a few have impugned the reputations of many.

Hundreds of thousands of people in financial services work hard, honestly and for the benefit of their customers. They deserve better too.

Advertisement

BoE warned about Libor in 2008

The Bank of England Governor Sir Mervyn King was warned about the concerns about the Libor interest rate by the US Federal Reserve in 2008, according to documents released. A parliamentary inquiry into the scandal has been launched.