[ by Howard Haykin ] Barclays's chief executive and 3 other executives will waive their bonuses this year after the British bank agreed to settle U.S. and U.K. accusations that the bank had participated with other banks in manipulating Libor, a key interbank lending rate.  All told, Barclays will pay the U.S. Commodity Futures Trading Commission and U.K. Financial Service Authority a total of £290 million, or $452 million, in penalties. Barclays said it had reached settlements with FSA, the CFTC and the Department of Justice over a long-running probe into the setting of so-called Libor rates.

[C-I Note: See our related WWW posting, "Barclays Settles U.S., U.K. Charges ..."]

"I am sorry that some people acted in a manner not consistent with our culture and values," CEO Bob Diamond said in a statement, and added that he, Finance Director Chris Lucas, Chief Operating Officer Jerry del Missier and Investment Banking boss Rich Ricci have agreed to forgo any bonus this year.

[C-I Note: If we understand correctly, this act of largesse by Barclays executives likely serves as self-imposed personal penalties - to take effect in early 2013, because they are giving up any bonuses for this year - presumably 2012.  It certainly could not be construed as clawbacks, because the alleged violations would have taken place at various points in time - as early as 2006 - when we presume these executives may not have been in the current positions of authority.]

For further details, go to:  [Reuters, 6/27/12].