It Think it's very important that people don't expect too much from regulation," said Sir Mervyn King, governor of the Bank of England, a few days after Barclays bank had paid £29om ($45Om) in fines for attempting to rig libor, a benchmark interest rate, between 2005 and 2009. But as Barclays' chastened chairman, Marcus Agius, was questioned by a parliamentary committee on July 10th, it became clear that regulators are increasingly minded to discipline banks they judge to be poorly managed.
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