Libor

The resignation of Barclays CEO Bob Diamond does not lessen the possibility of criminal proceedings against those involved, Chancellor George Osborne has warned.

Chancellor George Osborne is to announce an inquiry into UK banking standards, with the Serious Fraud Office (SFO) also considering launching criminal prosecutions over the LIBOR rate-fixing scandal.

Analysts have suggested the fallout from the LIBOR price-fixing scandal may ultimately lead to significant asset disposals or even a break-up of the bank.

The reputation of the UK banking sector hit a new low last week after the FSA hit Barclays with its largest ever fine of £59.5m for breaching LIBOR regulations.

FIXED INCOME

BARCLAYS MESSAGES

UK regulators and global banks are discussing an overhaul of interbank lending rates amid a probe into alleged manipulation of the benchmark.

The Royal Bank of Scotland, the UK's largest government-owned lender, has dismissed at least four employees in connection with a probe of potential interest-rate manipulation, sources told Bloomberg News.

Henderson is testing the water for a C-share issue to raise additional capital for John Pattullo's Diversified Income trust.

"If I can buy four yachts from my investments, why should I care if my manager can buy one for himself?"