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
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