Bank reveals key phone call details

A phone call between Barclays boss Bob Diamond and the Bank of England ultimately led to some of the rate-rigging actions at the heart of the ongoing banking scandal, the bank said today.

Jerry Del Missier, who was president of investment arm Barclays Capital at the time, told staff to lower the key interbank lending rate after misunderstanding Mr Diamond’s account of the conversation with the BoE deputy governor Paul Tucker.