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Bank charges: Barclays staff identified in Libor probe

Barclays executives have been denied anonymity in an upcoming trial relating to the London interbank lending rate (Libor).

Customers of Barclays, Guardian Care Homes, have brought forward a claim of mis-sold interest rate hedging products based on Libor.

Libor is a benchmark rate, worth around $300 trillion, which decides how much banks can lend both to each other and in their products such as mortgages, credit cards and saving accounts.

As this rate is an estimate, the scandal arose when it was uncovered that banks were manipulating Libor.

For consumers, this has meant that those who have saved and invested have often lost out on interest they could have made.

Among the list of 104 names released were 25 directly mentioned in court papers on Libor manipulation. These include former chief executive Bob Diamond and former chief operating Officer Jerry Del Missier. However, the names mentioned may not have been implicated in wrongdoing.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801529060-ADNFCR



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