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Barclays chairman resigns after rates scandal

The chairman of UK-based Barclays, Marcus Agius has stepped down after accepting responsibility for a price-fixing scandal that saw the bank slapped with trans-Atlantic fines of $453m, the Associated Press has reported. "As chairman, I am the ultimate guardian of the bank's reputation," said Agius, who had led the board since 2007. "Accordingly, the buck stops with me and I must acknowledge responsibility by standing aside." Last week, US and British agencies imposed the fines on Barclays for submitting false data on interbank borrowing rates between 2005 and 2009. The bank's executives have been under fire since then and the calls are growing for chief executive Bob Diamond to quit, too.