So Barclays so-called "submitters", the managers who gave borrowingdata to the British Bankers Association's Libor-setting committees, consistently told these committees that Barclays was paying a lower interest rate to borrow than was actually the case.
Also supporting sentiment were comments from the president of the New York Federal Reserve on Thursday that helped spur hopes of more stimulus and investors also welcomed lower borrowing costs in Europe and strong lending data from China.
"Expectations for tapering off of the Fed's outcome-based purchases have been pushed back due to recent softening in the economic data, " according to a statement from the private sector Treasury Borrowing Advisory Committee released on Wednesday.