The Bank of England has been implicated in the Libor rigging scandal after a secret recording was uncovered by the BBC.
The recording, which took place in 2008, further adds to evidence the central bank pressured commercial banks to push their Libor rates down during the global financial crisis.
The London Interbank Offered Rate (Libor) is the rate at which banks lend to each other while also tracking how much it costs banks to borrow money from other banks.
According to the BBC, in the recording Mark Dearlove, a senior manager at Barclays, tells Libor submitter Peter Johnson to lower his rates.
He said: "The bottom line is you are going to absolutely hate this... but we have had some very serious pressure from the UK government and the Bank of England about pushing our Libors lower."
Johnson objected claiming this would break the rules: "So I will push them below a realistic level of where I think I can get money?"
Dearlove replied: "The fact of the matter is we have got the Bank of England, all sorts of people involved in the whole thing... I am as reluctant as you are... these guys have just turned around and said just do it."
According to Bloomberg, a BOE spokesman said Libor and other global benchmarks "were not regulated in the UK or elsewhere during the period in question".
The BBC said the phone call between Johnson and Dearlove took place on 29 October 2008, the same day as a call between former Barclays boss Bob Diamond and executive director of the BoE Paul Tucker in which they discussed Libor rates.
'Contempt of parliament'
Chris Philp MP told the BBC: "It sounds to me like those people giving evidence, particularly Bob Diamond and Paul Tucker were misleading parliament, that is a contempt of parliament, it is a very serious matter and I think we need to urgently summon those individuals back before parliament to explain why it is they appear to have misled MPs. It is extremely serious."
Banks have already been fined over £6bn for allowing traders or bosses to request changes in Libor rates for commercial interests such as trading positions.
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