Paul Tucker can rest easy tonight.
Those awaiting a bloodbath at today’s Treasury Committee hearing will have been sorely disappointed. Claims that Bob Diamond would bring a host of others down with him, among them the Bank of England’s deputy governor, proved incorrect.
Bank of England deputy governor Paul Tucker wants a chance to give his side of the story over claims he condoned Barclays’ decision to lower its Libor submissions during the financial crisis in a call with former chief executive Bob Diamond. This just out from the Bank:
Bank of England: Paul Tucker has made a request to attend a hearing with the Treasury Select Committee as soon as possible following the publication of settlement agreements by Barclays with the Financial Services Authority, the US Commodity Futures Trading Commission and The United States Department of Justice in relation to the attempted manipulation of LIBOR and EURIBOR. Mr Tucker is keen to give evidence to the Committee in order to clarify the position with regard to the events involving the Bank of England, including the telephone conversation with Bob Diamond on 29 October 2008.