A spike in U.S. Treasury yields may spur fears of another emerging markets rout, but analysts are divided on whether there's much correlation.» Read More
"Around about the time of the financial crisis a lot of the Libor rates were quite elevated and it was used by the MPC as an indicator of the stress in the financial system when banks were finding it harder to access capital the spread went higher," Andrew Sentance, former monetary policy committee member at the BoE, told CNBC.
"We started last year an investigation from the antitrust point of view, we had signals that some banks were developing illegal agreements according to competition rules and we started an investigation about a group of banks, not only British," Joaquin Almunia, EU commissioner for competition, told CNBC.
"We have to look at both what happened before the financial crisis where there was some manipulation and then of course what happened after the financial crisis was there some miscommunication for Barclays to keep the Libor rates down," Nancy Curtin, Chief Investment Officer, Close Brothers Asset Management, told CNBC.
"Yes what happened at Barclays was unfortunate and it shouldn't have happened, but the ability of the British political classes to ramp up what was a problem into a potential disaster, is absolutely staggering," Chris Roebuck, professor at Cass Business School, told CNBC.
"What worries me about the way that this has been approached is that there have been elements of the mob behind this and political opportunism behind this and that worries me because we saw nothing whatsoever from any of these politicians six or seven years ago," Simon Derrick, chief currency strategist at BNY Mellon, told CNBC.
Uwe Parpart, Managing Director, Head of Research, Reorient Financial Markets says the only way Barclays could manipulate Libor rates would be through collusion between other banks.
Marc Lopresti, Managing Partner at securities law firm Tagliaferro & LoPresti calls the probe into interbank offer rates an unprecedented co-operation of regulators in the developed world.
Alastair Newton, Senior Political Analyst at Nomura says that banks will be the targets of political pressure after the Barclays crisis and they will also face more intense regulation from governments.
Meredith Whitney, CEO of the Meredith Whitney Advisory Group, downgraded JPMorgan to “hold” on Tuesday and told CNBC that it had been a "long time coming."
Britain's growing interest rate-fixing scandal could claim yet another high-level victim: Paul Tucker, the man tipped to eventually become the next head of the Bank of England.
Stocks closed near session highs Tuesday on a holiday-shortened trading session, led by energy, as investors cheered a better-than-expected factory orders report.
CNBC's John Carney shares his opinions on Barclays CEO Bob Diamond's letter to employees regarding his resignation and the Libor scandal.
CNBC's Kelly Evans reports the latest details on the departure of Barclays CEO Bob Diamond, amid the developing Libor rate-fixing investigation.
"If Diamond had showed up in the company gym, someone would have clocked him," one trader said.
CNBC's Kelly Evans reports the latest details on the departure of Barclays CEO Bob Diamond, amid the developing Libor scandal. Anton Schutz, Mendon Capital Advisors president & CIO, offers insight.
Barclays COO del Missier, CEO Diamond, and chairman Agius all announced their departures from the company. Jeffrey Sonnenfeld, Yale senior associate dean, weighs in on where the company might be headed without its top leaders.
The "Squawk on the Street" news team reports Jerry Del Missier, Barclays chief operating officer has resigned, amid the growing Libor scandal.
U.S. stock index futures hovered around the flatline Tuesday ahead of a shortened pre-holiday trading day, as investors awaited the factory orders report.
Take a look at some of Tuesday’s morning movers:
CNBC's Kelly Evans reports on all the market moving events from Europe, including the departure of Bob Diamond, Barclays embattled chief executive, amid the growing Libor scandal.