MPs to question Bank of England's Tucker

08/07/2012

By Daniel Hunter

The ongoing Barclays banking scandal will today (Monday) see Paul Tucker, the deputy governor of the Bank of England, appear before the Treasury Committee to be questioned about a key conversation he had with the former boss of Barclays.

Barclays' traders are alleged to have fixed a key bank lending rate, and Mr Tucker will answer committee questions after former Barclays chief executive, Bob Diamond, said he spoke to Mr Tucker about the Libor rate back in 2008.

Notes released by Barclays claim that, in a conversation on the phone, Mr Tucker had told Mr Diamond that "senior figures within Whitehall" were concerned that Barclays was setting its Libor rate higher than some of the other main banks.

This was not believed to have been an order to lower the rates, although there are those on the committee who see this as a nod and wink to the bank.

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