the governor was of the opinion that he should also have a meeting with mr. agius and in fact mr. rake and i thought that was a sensible thing to do. the governor has regular meetings and always had regular meetings with the chairman and chief executive of major banks. this was also an issue, by the way, of our appropriate approach to this issue, which we had discussed, the governor, myself and andrew bailey on the thursday, actually when we were doing the rehearsal for the f pc press conference on the friday, we had decided the appropriate line that we should all take at that time and you'll see that reflected. >> for additional background. my question is quite direct which is why did you not handle this situation to its conclusion as the chairman? >> thought it was appropriate for the governor to see mr. agius and to put over a message as well and it was a message which -- >> why? >> -- the governor and i discussed. >> he has no regulatory authority? >> the role of the bank of england in terms of the need for banks to feel that they have the confidence of the bank of england i t

mr. diamond -- >> we're going get more from hearing with marcus agius. likely of course take a couple of hours and if it's anything like the ones we previously heard. i want to get reaction. your thoughts? >> this morning a bit disappointing. yesterday to my surprise and quite intelligent and coordinated questioning coming from the panel. today we're revisiting issues of the past, we're not talk about libor. i can't remember the last time i remember hearing libor mentioned. we're the hearing old vendetta about the culture at barclays being played out whereas to remind ourselves the libor specific issues were adressed and dealt with and internal controls were put in place in december of 2009. the issues surrounding aggressive techniques is being addressed, dealt with and barclays stepped back from some of those activities. that was all within the law. so this is not particularly relevant to the libor issue. >> barclay shares up almost 2%. they haven't moved around too much. do you think it has anything to do with what we're hearing this morning. >> day-to

mr big shot bob diamond just a few million pounds short is a. he is certainly this is all come out as a result of the questioning today of marcus agius who's the barclays chairman it's been reported that m.p.'s on the treasury select committee have given him a relatively tough time he says he deeply regrets what's happened at barclays and he's truly story and during the course of his evidence it came out that bob diamond is indeed going to give up his twenty million pounds bonus now he's only going to take his salary and his pension allowance and that amounts to a grand total of two million pounds i say that again two million pounds that's three point one million dollars that he gets despite the fact that he has had to resign because the bank's board lost confidence in him obviously that is a great deal of money by anybody's measure no this inquiry is all about finding out who knew what this lowballing of libel rates what barclays was doing was essentially submitting lower rates for lending money to other banks to make the bank appear stronger than it actually was during the banking crisis the inquiry is aimed out finding who knew what who was involved