Daily Telegraph: Paul Tucker told MPs that Barclays’ abuse of the Libor system may be only one part of the banks’ dishonesty over crucial financial information, suggesting that other markets should now be investigated.
An official inquiry into Libor – which helps determine interest rates for householders and businesses – should be broadened to include several over markets where banks are trusted to report their own data, he said.
Mr Tucker’s evidence to the Treasury Select Committee also reignited the political row over the Libor scandal as he insisted that members of the last Labour government had not “absolutely not” put pressure on him to reduce Libor.
George Osborne, the Chancellor, has said that that the last government was “clearly involved” in the banks’ dishonest under-stating of the interest rates they were paying to borrow on money markets.