Barclays's settlement with regulators stemmed from the bank's attempt to disguise the high cost of its own funding and to pad the profits of certain traders. The probe has been under way for several years and involves a handful of other global banks. Libor is used to set interest rates on an estimated $800 trillion of borrowings and derivatives.
巴克莱之所以要和监管机构达成和解是因为,该行曾试图掩盖其自有资金带来的高成本以及虚增某些交易员创造的利润的行为。这项调查已经进行了多年,其中涉及少数几家其它全球性银行。Libor是估计达800万亿美元的借款和衍生品确定利率的基矗
Included in one of the documents released by Barclays in advance of Wednesday's hearing are Mr. Diamond's Oct. 29, 2010, notes of a call between himself and Paul Tucker, at the time the Bank of England's executive director for markets. The notes say the men discussed Barclays's relatively high submissions of the bank's borrowing rate, one figure used to calculate Libor.
巴克莱在周三听证会前公布的这批文件包括博达文保存的2010年10月29日本人和时任英国央行主管市场的执行董事塔克(Paul Tucker)之间的通话记录。记录显示,两人曾谈及巴克莱对借款利率的报价相对较高一事。这一报价会被用来计算Libor。
At the height of the financial crisis, Libor was closely watched as a barometer of U.K. banks' health. It is calculated by an average of banks' own borrowing rates. The higher a bank's rate, the riskier it is considered to be, so an overall high Libor would have suggested the sector was having trouble accessing cash.
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