Libor scandal: how the events have unfolded

Wednesday June 27

Barclays discloses it has been fined record £290m for rigging Libor between 2005 and 2009. Regulators warn other banks may have been involved.

Thursday June 28

Pressure builds on Bob Diamond and chairman Marcus Agius to quit. Barclays shares fall 15.5pc.

Sunday July 1

Bank of England dragged into the scandal as it emerges deputy governor Paul Tucker and Diamond spoke about Libor in 2008.

Monday July 2

Agius resigns. Emerges Sir Mervyn King called Agius to a meeting that evening and told him Diamond must go.

Tuesday July 3

Diamond resigns. Jerry del Missier, chief operating officer, also quits. Barclays releases memo suggesting Tucker told Diamond: “It did not always need to be the case that [Barclays] appeared as high as we have recently” on Libor.

Wednesday July 4

Diamond appears at TSC hearing. “I don’t feel personal culpability,” he says and accepts that del Missier “misinterpreted” Tucker’s words.

Monday July 9

Tucker appears at TSC, denies pressuring Barclays to lower Libor submissions.

Tuesday July 10

Diamond drops claims for bonuses of up to £20m. Agius fails to support parts of Diamond’s testimony at TSC. Diamond writes to TSC chairman Andrew Tyrie to say claims he lied to TSC are “unfounded” and “unfair”.

Friday July 13

E-mails released in New York show that then head of New York Fed Tim Geithner wrote to Sir Mervyn in 2008 warning him about the risk of “deliberate misreporting” of Libor.

Monday July 16

Jerry del Missier tells TSC that Diamond instructed him to “get our Libor rates down”.