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1.Market Observations

14 July 2012 (AFR) – Barclays backlash

(14 July 2012, AFR, p15, Harry Wilson, London, The Telegraph)

Leicester to pull millions from Barclays over Libor scandal

‘Barclays is facing growing protests over its attempts to rig Libor with some customers withdrawing money in response to the bank’s admission that it tried to manipulate the world’s key borrowing rate.’

‘Leicester City Council has said it will withdraw the £6m it holds on deposit with Barclays, warning it had been “appalled” by the bank’s behaviour.’

‘The latest blow for Barclays came as analysts at Morgan Stanley estimated the costs of Libor-related litigation for Britain’s biggest banks.’

Read more at Telegraph.co.uk

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