Former Barclays director Jerry del Missier has taken his seat before the Treasury Select Committee.
Mr del Missier declines opportunity to discuss his resignation two weeks ago.
Mr del Missier denies being told by former Barclays Bob Diamond to "invent" a submission on the Libor rate.
He gives background info on larger banking crisis.
Says he expected Bank of England would take his views on Libor rate into account.
This would have resulted in "lower" Libor submissions.
He is challenged by chairman Andrew Tyrie that his submission was "fabricated".
Mr del Missier says he did not discuss his instruction with Bob Diamond again.
He says the instruction "did not seem significant" enough to warrant further discussion.
Committee says "implausible" that the instruction was not discussed again.
Del Missier : "Not the first time the subject of Libor had come up as an issue."
Asked whether he knew rate-fixing was illegal, del Missier says he knew it "didn't seem appropriate".
Challenged he "did not appear to know his job".
Asked repeatedly: "Is low-balling an illegal activity?"
David Ruffley says "witness is not answering".
Mr del Missier insists answer must be given in context.
Mr Ruffley asks whether Bob Diamond instructed him on low-balling and whether he knew it was illegal.
Mr del Missier said he was instructed but did not know it was illegal.
He says he gave instructions to the head of the Money Market desk, and had a follow-up conversation.
Says he did not check on the effect his instruction had had on Libor rates.
He also did not check whether his instruction was still being acted on.
Mr Ruffley asks when he found out he had a "problem on his hands".
Del Missier: "Early months of 2010."
Mr Tyrie asks whether Mr del Missier considers the behavour to be "proper".
"Did not strike me as improper in October of 2008."
Retrospectively, he agrees with the US Justice Department that the behaviour was improper.
Mr del Missier "regrets that Barclays has had its reputation sullied".
Stewart Hosie asks whether Mr del Missier would have given the instruction if it had only been an internal instruction.
Mr del Missier said no, he only followed believing it had come from the Bank of England.
Mr del Missier "hadn't thought of" Libor manipulation as a notion before.
Mr del Missier not aware of any disciplinary action over Libor manipulation previously.
He says Barclays "found itself in this position" due to a "breach of control".
Michael Fallon asks whether he regarded original instruction as one of Bank of England, or from general public bodies.
Mr del Missier says Bank of England.
Mr del Missier says Barclays faced political pressure to get Libor rates down.
He says he did not take legal advice on the passing on of the instruction.
Mr del Missier said he spoke to Bob Diamond "several times a week", with a similar amount of emails.
Mr del Missier says he would have followed up discussions with Mr Diamond on Libor instructions with hindsight.
Mr del Missier tells the Comittee he was not aware of pressure to rig rates at Barclays from 2007.
Says he did not know about illegal trading in 2005, became aware later.
John Mann asks whether the October 29 instruction discussed with head of Money Markets was discussed with anyone else.