Barclays

Regulators have turned their attention to at least four of Europe's largest banks in a continued investigation of manipulation of the LIBOR benchmark interest rate.

The governor of the Bank of England, Sir Mervyn King, has insisted he did not call for Bob Diamond's scalp before Barclays' former chief executive stepped down.

Senior FSA executive Andrew Bailey has accused Barclays of operating with a "culture of gaming" which came from top of the bank.

The former chief operating officer of Barclays, Jerry del Missier, has told MPs Bob Diamond instructed him to lower the bank's LIBOR submissions, on the orders of the Bank of England's deputy governor Paul Tucker.

The former head of JPMorgan Cazenove, Naguib Kheraj, has emerged as one of the frontrunners to succeed Bob Diamond as chief executive of Barclays.

Bosses at Barclays, including outgoing chairman Marcus Agius, have written to staff to calm fears over the LIBOR scandal, telling them other banks face similar punishments.

Former boss of Barclays Bob Diamond could be called to Congress to face questions from US politicians, the Guardian reports.

Lloyds Banking Group could have to pay out as much as £1.5bn if found guilty of manipulating the LIBOR rate, analysts at Liberum Capital have warned.

Mervyn King, the governor of the Bank of England, told Barclays Marcus Agius on 2 July that Bob Diamond had lost the support of the regulator.

Barclays former chief executive Bob Diamond has opted to give up a deferred bonus owed to him from his former bank, worth up to £20m.