UK discussed potential criminal aspect of Libor fixing

Britain's Treasury and financial market regulator have discussed the potential criminal implication of an investigation into the manipulation of Libor rates, a spokeswoman to British Prime Minister David Cameron said on Thursday.

Barclays will pay 290 million pounds ($453 million) to U.S. and British authorities to settle allegations that it manipulated interest rates.

When asked if there had been any consideration about whether the manipulation of Libor could have criminal implications, Cameron's spokeswoman told reporters: "The issue is something that has been under discussion - the liabilities and criminal aspects."

Cameron, on a trip to northern England, said the management of Barclays will have to answer some "serious questions" over the investigation.

[Source: Reuters, London, 28Jun12]

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