UK to hold banking inquiry
06:50 Tue Jul 03, 2012
Taken from/By: BBC News
Report by: BBC News
Prime Minister David Cameron has announced a full parliamentary inquiry of the banking sector following the Barclays rate-rigging furore.
He told the House of Commons the manipulation of the Libor interest rates had been a “scandal”.
The review will run alongside a narrower inquiry specifically into the Libor market, also announced on Monday.
The comments follow news the Serious Fraud Office is considering whether to bring criminal charges.
In addition, Barclays will conduct its own “root and branch review” after receiving a fine of £290m ($450m) over the Libor affair.
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