Barclays Libor Essay

2623 Words11 Pages
Investigative report on barclays Libor scandal Table of Contents Executive Summary 3 1. Purpose 4 1.1 Background 4 1.2 The Board of Directors 4 2. Libor Scandal and What happened at Barclays? 5 2.1 What is the culture and how can it go wrong? 5 2.2 Barclays’ Evolution and Early Years 5 2.3 Between 2005 and 2009 6 2.4 Financial Crisis 6 2.4 Inappropriate Behaviour 6 2.5 Why is Libor important? 7 2.6 Consequences 7 3 Barclays’ Growth 7 3.1 Barclays Revenue by Business 7 3.2 Barclays’ Profit before Tax by Business 9 4 Recommendations 10 4.1 Culture and Values 10 4.2 Governance, People and Pay 11 4.3 Reputational Risks and Financial Information 11 5 Conclusion 11 6 References 12 Executive Summary This report summarises my findings on Barclays Libor scandal spotlight, its culture and values, Governance arrangements, its business practices in place, and various risk involved and have a better understanding approaches to the management and variety of risks they face in the banking and financial sectors. Specifically, it aimed to * Identification and explanation of how the manipulation of Libor rates happened; * Describe how and what went wrong at Barclays; and * Set outs a number of recommendations. Barclays has a significant awareness of the need to identify measure, monitor and control major individual risks. This report concentrates on what went wrong, in order to find a better way forward. Two points are worth making here. First, the problems faced by Barclays are to some extent industry problems – though Barclays should take no comfort from this. To develop some recommendations that Barclays’ behaviours fell below the standards it expected. This report is not designed on behalf of Barclays but to act as a basis for an academic investigation written paper. 1. Purpose The objective of this report is to

More about Barclays Libor Essay

Open Document