Barclays

Seven leading global banks, including Barclays, RBS and HSBC, have been issued with subpoenas by the state of New York over the alleged rigging of LIBOR.

Standard Chartered has agreed to pay a $340m (£217m) fine to US regulators after it was accused of trying to hide up to $250bn of transactions with Iran.

Royal Bank of Scotland (RBS) chief executive Stephen Hester has emerged as the frontrunner to fill the vacant chief executive position at Barclays.

The Financial Services Authority (FSA) will today suggest scrapping LIBOR and replacing it with a borrowing rate based on actual trades, it has been reported.

Barclays Bank is considering a new remuneration process which would see bonuses for its top executives reduced and payment deferred until they have retired.

Stephen Hester, chief executive of the Royal Bank of Scotland, has admitted his bank will face a significant fine over the rate-rigging scandal which has thrown Barclays into the spotlight in recent weeks.

Barclays has reported pre-tax profits of £4.2bn for the six months to 30 June but has set aside £450m for swaps redress and revealed its finance director is involved in a fresh investigation by the FSA.

Alison Carnwath, the head of the Barclays remuneration committee that approved former CEO Bob Diamond's £17m pay package earlier this year, has left the bank.

The European Commission has cracked down on the fixing of interest rates in the latest twist to the LIBOR scandal, which has dominated headlines in recent weeks.

Barclays has hired an investment banker to lead an independent review of its culture, as the bank tries to clean up its image following the LIBOR scandal.