Which senior Whitehall figure told the Bank of England to tell Barclays that they should get their LIBOR - or inter bank lending interest rate - down?
Barclays chief executive Bob Diamond has resigned a week after the bank was fined a record amount for trying to manipulate inter-bank lending rates.
This view came despite the Bank of England's efforts in April to free up inter-bank lending through its special liquidity scheme.
US-born Mr Diamond was head of Barclays Capital, its investment bank division, when its staff were trying to manipulate the key inter-bank rates.
Mr Coogan warned that the bank's efforts had yet to have much effect on the London Inter-Bank Offered Rate (Libor), the main interest rate governing the cost of lending between banks.
Deutsche Bank has suspended more traders as part of an inquiry into whether staff attempted to manipulate inter-bank interest rates.
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But though the central bank has had to spend nearly 10% of Colombia's reserves, and lift inter-bank rates to 80%, to prop up the peso, the big issue seems to be corruption.
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Intially, seven banks, including HSBC and Royal Bank of Scotland, were questioned in the U.S. for alleged manipulation of the Libor inter-bank lending rate.
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Inter-bank lending is drying up and some investors are withdrawing funds particularly from southern European banks.
The Commission said some of the firm's "inter-bank fees and related practices may be anti-competitive".
We have yet to see prosecutions for manipulation of the Libor inter-bank lending rates.
On Tuesday, the three-month inter-bank lending rate declined to 4.63% from 4.83% late last week.
The Fed has already replaced the entire inter-bank money market and other markets with itself.
This involved day-to-day rigging of Barclays' submission to the mechanism that sets this key inter-bank interest rate.
He also said no government minister had asked him to "lean on" Barclays over its inter-bank lending rates.
In the meantime, the bonds will be traded on an inter-bank bond market.
"It is therefore a priority for the European Commission to prevent competition distortions in inter-bank arrangements on fees, " it said.
It recently launched a criminal investigation, in the wake of the Libor scandal, into the rigging of inter-bank lending rates.
Mr Wheatley is also conducting a review of Libor, the inter-bank lending rate that has been discredited following manipulation by traders.
Banks would start questioning each other and inter-bank lending would seize up.
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The shadow home secretary said it was a scandal no-one has been arrested for the "multi-billion pound" Libor inter-bank lending rate fraud.
Mortgage rates are based off Libor, or the London Inter-Bank Offer Rate.
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There is still an inter-bank credit crunch across Europe and all three sectors - consumer, banks and governments - are still overwhelmed by bad debt.
The Commission said it would submit proposed regulation by the middle of the year on inter-bank fees aimed at ensuring a level playing field for all card providers.
The central bank also said it would peg its plunging currency at a level of 131 kroner to the euro, or a trade-weighted index of 175, in the inter-bank market.
David Cameron has, so far, only called for accountability at Barclays to go the very top and for a narrow inquiry into the management of LIBOR - the inter-bank lending rate.
There has been a furore over the fixing of the London inter-bank lending rate, known as Libor, which is considered to be one of the most crucial interest rates in finance.
The FSA found evidence that Barclays, sometimes working with staff at other banks, had tried to manipulate Libor (the London Inter-Bank Offered Rate) and its European equivalent Euribor between 2005 and 2009.
Mr Miliband says he wants to make it easier to prosecute bankers who misbehave -- such as the employees at Barclays, who colluded with others in fixing the inter-bank lending rates, or Libor.
The package - which also includes guarantees of inter-bank lending - is designed to restore financial stability and to encourage the resumption of more lending to business and to people who want mortgages.
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