Barclays had a "culture of gaming" and its problems came from "the tone at the top", a leading banking regulator has claimed.
Andrew Bailey, head of the Prudential Business Unit at the Financial Services Authority (FSA), described the bank's former chief executive Bob Diamond's account of his and Barclays relationship with regulators as "highly selective".
Mr Bailey told MPs on the House of Commons Treasury Select Committee yesterday there "was a problem with the institution and that came from the tone at the top", meaning Mr Diamond.
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