The Financial Services Authority (FSA) has fined Barclays Bank £59.5m for misconduct relating to the London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor).
Barclays chief executive Bob Diamond will forgo his bonus for this year.
In addition to the record FSA fine, Barclays agreed to pay penalties of £290 million to settle investigations into the manipulation.
The FSA said: "Barclays' misconduct was serious, widespread."
"The integrity of benchmark reference rates such as Libor is of fundamental importance to... financial markets."
Source & Image : BBC
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