Barclays Libor scandal: Bob Diamond issued instructions

A former Barclays executive has told MPs he was instructed by his then boss, Bob Diamond, to cut the bank's Libor interest rate submissions.

Jerry del Missier, who quit as Barclays chief operating officer, has appeared before the Treasury select committee.

Asked if a 2008 phone call from his boss was an instruction to cut the rates Mr del Missier said "yes it was".

Last month, Barclays was fined £290m after admitting trying to manipulate Libor from 2005 to 2009.

Robert Peston reports.