LONDON — The Bank of England’s reputation is at stake as its independent directors conduct a review into whether bank officials knew of or condoned potential manipulation of the currency markets, Mark J. Carney, the bank’s governor, told lawmakers Tuesday.

Last week, the central bank suspended one of its employees after a series of investigations by regulators into whether currency traders colluded to manipulate the $5-trillion-a-day foreign exchange markets. The suspension was made pending the outcome of an investigation into whether the employee had complied with its internal control processes, the Bank of England said.

The central bank has to be “beyond reproach,” Carney said in testimony before the Treasury Select Committee.