Barclays chairman says other banks face LIBOR fines

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.

In an internal memo, leaked to the BBC, the bank's senior executives told employees other banks would soon be forced to settle with regulators, putting their own woes into perspective. The memo said: "As other banks settle with authorities, and their details become public, and various governments' inquiries shed more light, our situation will eventually be put in perspective." The note, from Agius (pictured) and other senior executives, admitted customers, shareholders and regulators "all have a right to feel let down" by the bank after it admitted to manipulating the rate at which ba...