The British Bankers Association reminds us all once again what seems to be the hardest word.

Here's the statement put out by the BBA on the Libor scandal. Can you spot anything missing?

BBA statement on FSA LIBOR investigation

27 Jun 2012

The BBA said:

"This is an announcement with extremely serious implications which need to be carefully considered and the investigation findings will be fully included in the current review of Libor. This review was announced earlier this year and the authorities are fully engaged with it. Today's statement by the Financial Services Authority is the strongest possible confirmation that the LIBOR contributions and processes followed by the contributor banks must meet the necessary regulatory obligations and observe the highest standards in ensuring the accuracy of the rate."

Oh. That's right. It's 'sorry'.

h/t to Dr Eoin Clarke (twitter @Dreoinclarke)

Update

I should have said that the Chairman of the BBA Libor, who were responsible for the statement,  is also...the Chairman of Barclays. You couldn't make it up!!