Sources told the paper Diamond is likely to be called to Washington to answer questions about the LIBOR-fixing scandal.
It said two powerful committees, the Senate banking committee and the House of Representatives financial services committee, are both considering calling Diamond to testify.
Sources close to both said they were in the initial stages of gathering evidence and were ‘almost certain’ to call on Diamond after the summer recess.
The report added the banking committee would question Federal Reserve chairman Ben Bernanke and Treasury secretary Timothy Geithner on the scandal before the August break.
Meanwhile, The Times reports Barclays is likely to appoint Sir Michael Rake as its new chairman within weeks. He is currently deputy chairman.
It is thought the bank will approach the Financial Services Authority (FSA) for approval on his suitability shortly. The report said some of the bank’s largest shareholders had already give ‘tacit approval’ to the appointment.
