It comes at a time when the integrity of the big banking sector in general is being questioned, most recently because of allegations major banks manipulated a key interest rate in previous years.
The former CEO of the U.K. lender gave his testimony under questioning today from British MPs, who were trying get to the bottom of how and why traders at Barclays had manipulated Libor, a key lending rate between banks that underpins a multi-trillion dollar market for financial products, from late 2008 onwards.