World Bulletin/News Desk
Britain's government and main opposition have agreed on who will participate in a parliamentary inquiry into the professional and ethical standards of bankers, documents from parliament showed on Friday, although one lawmaker described the process as a "whitewash".
The government has come under pressure to scrutinise the bank sector, particularly since last month when Barclays was fined for trying to manipulate the London Interbank Offered Rate (Libor), used worldwide as a benchmark for prices on about $350 trillion of derivatives and other financial products.
The parliamentarians from the British assembly's lower house, the House of Commons, put forward for the inquiry are Andrew Tyrie, who chairs parliament's influential cross-party Treasury Select Committee, and fellow committee members Mark Garnier, Andy Love, John Thurso and Pat McFadden.
"The recent scandals demonstrate the need for higher standards in banking," said Tyrie, who was proposed as the chairman of the banking commission.
"It is the fact that so many appear to have got off scot-free that really sticks in the gullet of the electorate."
The House of Commons has yet to approve the membership list, said a spokesman for the house. It is likely to do so, however, as the nominations have been agreed between all three major parties.
The commission will also have members from the House of Lords, the upper house, the spokesman added, and its proposed powers include the ability to summon people and call for records, examine witnesses on oath and appoint specialist advisers.
A spokesman for British Prime Minister David Cameron said: "It will have powers and resources to do a thorough job."
But Treasury Select Committee member John Mann, who was not nominated for the banking commission, called the inquiry "a total whitewash".
"We need to get to the bottom of this scandal, and I'm therefore setting up my own inquiry into this dreadful mess," he said in a statement, without elaborating.
BIST 100 index rises 0.44 pct while US dollar/Turkish lira rate falls to 3.49
The day before, the dollar had rallied against both main rivals and the Dow reached a fresh record high after the US central bank kept alive the chance of a December increase in American borrowing costs.
Monthly index sees decline of 3.4 pct, according to Turkish Statistical Institute
BIST 100 index decreases 0.31 pct while US dollar/Turkish lira rate rose to 3.51
Frankfurt equities sagged despite a rally for shares in German heavy industry giant ThyssenKrupp, which announced a deal with Indian group Tata to merge their steel operations in Europe.
BIST 100 index drops 0.02 pct while US dollar/Turkish lira rate stands over 3.48
The move was seen as a bid to weather US-imposed sanctions on the embattled country.
Regulators decided in May to fine Banco Popolare di Vicenza a total of 11.2 million euros ($13.4 million), the ECB said in a press release.
BIST 100 index rises slightly 0.09 pct while US dollar/Turkish lira rate falls to 3.43
BIST 100 index rises 0.10 pct while US dollar/Turkish lira rate stands around 3.46
Borsa Istanbul's BIST 100 index goes down 0.89 pct at close, USD/TRY rate stands around at 3.44