“I’m pleased

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that the New York Fed responded to my request in a timely and transparent fashion. We’re reviewing the documents now, and once

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we’ve thoroughly examined them, we’ll decide how to proceed,” said Congressman Randy Neugebauer, the chairman of the House

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Financial Services Subcommittee on Oversight and Investigations.Mr. Neugebauer added: “As much as $800 trillion in financial

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products are pegged to Libor, so any manipulation of this rate is of serious concern. We’ll continue looking into this matter to determine who was involved in this practice and whether it could have been prevented

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by regulators.”The documents released Friday indicate that Barclays had been notifying regulators about its concerns regarding the accuracy of the interest rate since 2007. In August of that year, a Barclays

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employee e-mailed a New York Fed official, saying “Draw your own conclusions about why people are going for unrealistically low” rates.Barclays wrote in a September report, “Our feeling is that Libors are again becoming rather unrealistic

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and do not reflect the true cost of borrowing.”