Barclays: Cameron says bank faces 'serious questions'

Prime Minister David Cameron has said that Barclays Bank management has "serious questions" to answer over how it manipulated banking lending rates.

Barclays was fined £290m ($450m) after an investigation into claims that several banks manipulated the Libor rate at which they lend to each other.

The Chancellor George Osborne confirmed that HSBC, RBS, Citigroup and UBS are also under investigation.

The scandal hit Barclays shares, which ended Thursday trading down 15.5%.

Other banks shares fell as well, with RBS losing 11.5%, Lloyds down 3.9%, and HSBC giving up 2.6%.

Barclays had acknowledged on Wednesday that its actions between 2005 and 2009 had fallen "well short of standards".

Investigators say that Barclays' traders lied to make the bank look more secure during the financial crisis and, sometimes - working with traders at other banks - to make a profit.

'Who was responsible?'

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