Tucker Says No Public Official Told Him to Lean on Barclays

Bank of England Deputy Governor Paul Tucker said no government minister or official pressured him to instruct Barclays Plc or any other U.K. commercial bank to lowball its Libor submissions during the financial crisis.

“Absolutely not,” Tucker told lawmakers in London today, when asked if anybody from the civil service or the then Labour government leaned on him to ask banks to lower their Libor submissions. He also said some of a memo written by former Barclays Chief Executive Officer Robert Diamond after an October 2008 phone call between the two gave “the wrong impression.”