'There has been much speculation in the media about potential changes in our strategy', the email said.
'This is inevitable in a situation such as this – but it is simply speculation. In the face of that, it is important that you hear from us, on behalf of the Board, an unequivocal statement: our strategy and business model were right for Barclays before recent events, and they remain right for Barclays now'.
Reuters says that the memo also said: 'As other banks settle with authorities, and their details become public, and various governments' inquiries shed more light, our situation will eventually be put in perspective'.
In the meantime, The New York Times reports that as regulators ramp up their global investigation into the manipulation of interest rates, the Justice Department has identified potential criminal wrongdoing by big banks and individuals at the center of the scandal.
The department’s criminal division is building cases against several financial institutions and their employees, including traders at Barclays, the British bank, according to government officials close to the case who spoke on the condition of anonymity because the investigation is continuing. The authorities expect to file charges against at least one bank later this year, one of the officials said.
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