LIBOR scandal: FSA warned Barclays its reputation was under fire

The FSA's chairman Lord Adair Turner warned Barclays earlier this year its reputation in the wider market was being damaged by its own submissions to banking bodies and its handling of trading books.

In a letter sent by Turner (pictured) to Barclays' chairman Marcus Agius in April, Turner said Barclays had confused and potentially misled the European Banking Authority over its financial strength. It was also accused of not being fully transparent with regards to how Barclays Capital operated. Turner said: "I wished to bring to your attention our concerns about the cumulative impression created by a pattern of behaviour over the last few years, in which Barclays often seems to be seeking to gain advantage through the use of complex structures, or through arguing for regulatory appr...