Sunday, 1 July 2012
Barclays bank chairman Marcus Agius to resign
Marcus Agius is to resign as the chairman of Barclays in the wake of the Libor lending rate scandal.
BBC business editor Robert Peston says Mr Agius will admit to an "unacceptable standard of behaviour" at Barclays when he makes the announcement on Monday.
It comes after Barclays was fined £290m ($450m) for attempting to manipulate the Libor inter-bank lending rate.
Earlier, it emerged RBS had sacked four traders over their alleged involvement in the Libor-fixing scandal.
The dismissals happened at the end of last year.
Our correspondent says Mr Agius made his decision to quit on Saturday night.
In his resignation statement he is expected to say the scandal had been a "devastating blow to the bank's reputation" and apologise to staff, customers and shareholders.
MPs' questions
Barclays was fined after the Financial Services Authority (FSA) found its traders had lied about the interest rate other banks were charging it for loans. Investigations are also under way at RBS, HSBC, Citigroup and UBS.
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