Question

What does “head above the parapet” mean in the Barclays and the LIBOR Scandal case?

Answer 1

Head above the parapet means taking the risk and it is applied with Barclays when it tried to manipulate the LIBOR rate. In reality, Barclays submitted high LIBOR rate, representing poor condition of the bank, but the management at Barclays manipulated with the U.S. Dollar LIBOR submitters and their people to reduce the LIBOR rates submitted by Barclays to the closer level of the rates submitted by the other banks that were much lower to the original Barclays rates. It helped the Barclays to prevent the negative media attention and projecting themselves to be at less risk, meaning putting Barclays away from Head above the parapet. It could increase the positive rating and reputation of the bank despite setting high LIBOR rates in original, though reducing it internally with the help of executives. It made the LIBOR manipulation or LIBOR scandal.