Their witness was a government investigator called to lay out details of an inquiry into the alleged rigging of a key interest rate by a group of brokers, who faced up to 20 years in prison.
Memos and correspondence published by the Treasury select committee on Wednesday in the wake of Diamond's resignation over the Libor scandal also reveal that the FSA was aware of an investigation into the rigging of the key interest rate when it authorised his promotion.
The regulatory reports into Barclays exposed for the first time the rigging of the key interest rate in the run-up to the 2008 financial crisis and highlighted concerns that during the crisis banks were inserting submissions into Libor that were deliberately too low in an effort to avoid any suggestion they were experiencing financial difficulty.
Two senior executives at the Royal Bank of Scotland may be asked to step down following the rigging of a key lending rate.
The rigging of Libor, the key interest rate which is used to value contracts worth trillions and affects everything from home loans to credit card charges, has shocked those who thought they were beyond being shocked.
(PDF 868 kb) Additional file 3: Functional analysis of key (A ) RIG-I and (B ) MDA5 protein mutants performed in 293T cells.
Most recently, several the traders accused of being involved in rigging the key Libor interest rate, affecting the cost of trillions of dollars of loans, mortgages and other financial deals, and who were known by names like "Lord Libor" and "Big Nose", were acquitted in trials.
LONDON, July 2 (Reuters) - Barclays was not an isolated case in the authorities' probe of banks rigging a key interbank interest rate, Britain's Financial Services Authority said on Monday.
"Better management of decision-making processes within BP and other companies, better communication within and between BP and its contractors and effective training of key engineering and rig personnel would have prevented the Macondo incident".
In order to express the inherent complex dynamic characteristics of mast mechanism of rotary drilling rig synthetically and improve the smooth-going property of key parts and related hydraulic system in the lifting process.
