Barclays chairman Marcus Agius is reportedly expected to resign on Monday over the fixing of inter-bank interest rates. Barclays declined to comment.
Last week, Barclays was hit with a record fine of $US450 million for attempted manipulation of the London interbank offered rate (Libor), which is the rate at which banks lend to each other.
Mr Agius has held the position for 5½ years.
Meanwhile, the Royal Bank of Scotland reportedly sacked four traders for their role in fixing inter-bank interest rates late last year.
RBS also confirmed it's under investigation for its role in the scandal.
The Government says it will hold a review into the setting of benchmark inter-bank interest rates and seek to criminalise rate-fixing.
The review aims to restore trust in the Libor, a reference rate that influences a swathe of other borrowing costs.
Business Minister Vince Cable urged shareholders in British banks to get a stronger grip on the boards and executives responsible for systemic abuse.
Financial Services Authority chairman Adair Turner says significant steps had already been taken to prevent a repeat of the Libor scandal and he did not think such behaviour was taking place now.
But he says the malpractice was not covered by criminal law.