Barclays 'was in state of denial'

Sir Mervyn King
Sir Mervyn King

Barclays was in a "state of denial" over regulatory concerns with the bank following its rate-rigging scandal, Bank of England governor Sir Mervyn King has told MPs.

In a Treasury Select Committee hearing, Sir Mervyn said there were "genuine and deep" concerns among regulators over governance and a loss of confidence in the bank's bosses.