Del Missier: BoE's Tucker instructed Barclays to 'lowball' LIBOR

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.

Addressing the Treasury Select Committee on the LIBOR manipulation scandal, del Missier gave evidence which contradicted that of his former boss, ex-chief executive Diamond. Del Missier (pictured) admitted he gave the instruction to the head of the money market desk to lower Barclays’ LIBOR submissions, following a request from Diamond. “Mr Diamond told me Mr Tucker had given the instruction,” he told MPs. Asked by Andrew Tyrie whether he knew his actions were illegal, the former COO said: “It did not seem inappropriate given that it [the instruction] had come from the Bank of England...