UBS Libor emails: 'I'll pay you $50,000, $100,000 ... whatever you want' to rig rate, trader told broker Trader A requested low three- and six-month Libor submissions from Manager A in an electronic chat. Trader A asked what Japanese Libor submission UBS was going to set. Manager A replied: "too early to say yet ... prob[ably] .69 would be our unbiased contribution." Trader A repeated the request for a low three month Japanese Libor submission. Manager A responded: "as i said before - i dun mind helping on your fixings, but i'm not setting libor 7bp away from the truth i'll get ubs banned if i do that, no interest in that." Trader A replied that he had no interest in that happening either, and that he was "not asking for it to be 7bp from reality" and concluded "anyway, any help appreciated." Consistent with Trader A's requirements, UBS's submission was two basis points less than the "unbiased" figure of 0.69pc. Broker B contacted a submitter at a Panel Bank 1 asking about Japanese Libor submissions that the bank was going to contribute, saying that the request had come from a trader - Trader A - at UBS. Panel Bank 1 submitter: "Alright, well make sure he [Trader A] knows" Broker B: "Yeah, he will know mate. Definitely, definitely, definitely"; Panel Bank 1 submitter: "You know, scratch my back yeah an all" Broker B: "Yeah oh definitely, yeah, play the rules." 18 September 2008: Trader A and another trader entered into "wash trades," which cancel each other out, in order to facilitate corrupt brokerage payments to brokers. For example, in a telephone conversation, Trader A explained to Broker A of Broker Firm A: "if you keep 6s [i.e. the six-month Japanese Libor rate] unchanged today... I will fucking do one humongous deal with you ... Like a 50, 000 buck deal, whatever. I need you to keep it as low as possible ... if you do that ... I'll pay you, you know, 50,000 dollars, 100,000 dollars ... whatever you want ... 27 January 2009: Trader A asked certain brokers to make false bids and offers, referred to as 'spoofs', on cash trades in the market to skew market perceptions of the rates at which cash could be borrowed or lent in the interbank market. False offers were discussed on the telephone between this trader and Broker A on at least 12 occasions. In one such conversation, Broker A explained that he had been: ..." offering...some cheap 3s all morning and 1 shouted them- down at [Panel Bank 3] as well...we were offering them at 50 mate... that wasn't even true." Between 1 and 31 July 2009, Trader A made 39 requests of Broker F. For example, in an electronic chat on 14 July 2009, Trader A requested a "HIGH 6M SUPERMAN ... Broker F said: "ill try mate ... as always." Trader A instructed Broker F that the submission should remain high and then he would need it a lot lower. At that time, Trader A's plan was to maintain high six-month Libor rates until the end of the month. Trader A also requested: "3m and 1m unch [i.e. unchanged]." Trader A also inserted an extract of another electronic chat with Broker A of Broker Firm A in which the broker said: "putting the captain caos [sic] outfit on as we speak." Broker E advised Trader A about the tactic of effecting a number of small changes in submissions rather than one dramatic change. He said: "if you drop your 6M dramatically on the 11th mate, it will look v fishy, especially if [Panel Bank 5] and [Panel Bank 2] go with you. I'd be v careful how you play it, there might be cause for a drop as you cross into a new month but a couple of weeks in might get people questioning you. Trader A replied: "don't worry will stagger the drops ..." Trader A and Broker E discussed recent small reductions in UBS' Japanese Libor submissions. The broker referred to an external trader at a panel bank, who was building positions in the expectation that the six-month rate would increase. The broker said that the external trader " ... could be in for a shock going into august ... the three muscateers [sic] could do him a fair bit of damage."