BOE Was Naive on Libor and King Overstepped Power, Lawmakers Say

The Bank of England’s handling of questions about the rigging of the London interbank offered rate was naive and lacked urgency, a U.K. panel of lawmakers said.

The House of Commons Treasury Committee also criticized Governor Mervyn King for his part in the effective ousting of Barclays Plc Chief Executive Officer Robert Diamond last month, saying it was “difficult to justify” and that greater checks on his power were needed.