Safe Mode: On
Barclays Implicates Libor Rivals

By Mark Kleinman

Barclays' Libor-rigging transgressions will be "put in perspective" by the fines handed out to other international banks, according to the first direct comments by the UK lender about the scandal's potential impact on the rest of the industry.

In a memo sent to staff yesterday evening and which has been leaked to me, the nine members of the bank's executive committee warned that the Libor crisis should not distract them from the core task of safeguarding Barclays' vast balance sheet.

"The macro-environment remains febrile, especially in Europe. We have to remain vigilant on balance sheet exposures and risk management. In short, our focus must remain on capital, funding and liquidity; improving returns; and driving income growth."

The memo, co-written by Marcus Agius, Barclays' outgoing chairman, apologised for the impact of the rate-fixing episode on the bank's st

-

Added: Jul-15-2012 Occurred On: Jul-15-2012
By: marc1921
In:
World News
Tags: Cat, out, of, the, bag
Location: England, United Kingdom (UK/GB) (load item map)
Views: 1958 | Comments: 15 | Votes: 0 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
You need to be registered in order to add comments! Register HERE
Sort by: Newest first | Oldest first | Highest score first
Liveleak opposes racial slurs - if you do spot comments that fall into this category, please report them for us to review.
  • Comment of user 'MR tommygun' has been deleted by author (after account deletion)!
  • Comment of user 'MrScabs' has been deleted by author (after account deletion)!
    • @MrScabs We had better get going on that "Black Market" pretty quick as the fiat money world is collapsing around us!

      Posted Jul-15-2012 By 

      (1) | Report

    • Comment of user 'MR tommygun' has been deleted by author (after account deletion)!
    • @MR tommygun Thats when you had better have REAL money!(gold and silver) or under their power you go.

      Posted Jul-15-2012 By 

      (0) | Report

    • Comment of user 'MR tommygun' has been deleted by author (after account deletion)!
    • @MR tommygun There will ALWAYS be vendors to take silver and gold as money. You might have to look hard but they will be there. Gold and silver have been money for two thousand years. I don't think that the behaivor of two thousand years is going to change any time soon.

      Posted Jul-15-2012 By 

      (1) | Report

  • Need to include alot of prison time ! ! !

    Posted Jul-16-2012 By 

    (0) | Report