Del Missier describes Libor fixing as 'appropriate' action

Jerry Del Missier defends Barclays' actions over Libor Credit: Treasury Select Committee

Jerry Del Missier has told MPs that the decision to lower Libor submissions in the midst of the financial crisis seemed "appropriate".

The Canadian banker said he "fully expected" staff to take into account the views raised by the Bank that the bank's rates were too high.

However, he told the Treasury Select Committee that he only spoke to the head of the money market desk and did not follow up to check what effect his instruction had on Libor submissions.