Barclays exec blamed for order to misreport rates

Published November 20, 2014

Documents released by Barclays bank say that its departed chief operating officer, Jerry del Missier, was responsible for ordering others to report lower than actual borrowing rates.

Del Missier resigned Tuesday, hours after Bob Diamond quit as chief executive.

The bank released a memo by Diamond recounting a conversation with a Bank of England official. Barclays said Diamond discussed the call with del Missier, who wrongly concluded that the Bank of England had instructed Barclays to keep its submissions lower.

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