Banking StandardsLetter on behalf of Jerker Johansson from the Dontzin Law Firm LLP

Letter relating to Question 2241

We represent Jerker Johansson. Mr. Johansson would like to make two additional corrections to the transcript of his testimony before the Parliamentary Commission on Banking Standards on 10 January 2013. The first relates to a comment by Baroness Kramer on page 12 of the transcript. Ms. Kramer stated: “Well, the LIBOR fixing continued, so when you came on board in March 2008, a systemic daily low balling of the LIBOR rate was still standard operating procedure.” Mr. Johansson responded: “Right. I was not aware of that at the time, as I said earlier ....” Mr. Johansson would like to clarify that he did not mean to suggest, when acknowledging Ms. Kramer’s comment with the word, “[r]ight,” that he agreed that a “systemic daily low balling of the LIBOR rate” was “standard operating procedure” in March 2008.

Second, the transcript reflects on page 38 that all of the witnesses “indicated assented” to the Chair’s closing remarks. Mr. Johansson did not indicate his assent to the Chair’s closing remarks and does not believe any of the other witnesses did either.

We respectfully request that these corrections be appended to the published transcript or included therein as a footnote to the exchanges highlighted above. Thank you.

1 February 2013