LIBOR emails reveal Barclays and BoE in 'daily contact'

The BBC reports the Barclays was trying to manipulate LIBOR rates during the height of the financial crisis. Bank of England deputy governor Paul Tucker will be questioned on the issue by MPs later today. The BBC report said Barclays claims some of its staff were acting on the understanding that the Bank of England had "asked it to reduce its LIBOR submissions". It added former Barclays chief executive Bob Diamond, who resigned over the affair, said he spoke to Tucker about the LIBOR rate in late 2008. Barclays said Diamond's notes of the telephone conversation led chief operatin...