Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080

Commodity Futures Trading Commission

Office of Public Affairs

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

www.cftc.gov

Examples of Misconduct from Written Communications

Examples of False Reports and Attempts to Manipulate U.S. Dollar LIBOR

March 22, 2005: (emphasis added)

U.S. Dollar LIBOR Submitter: if you need something in particular in the libors i.e. you 

have an interest in a high or a low fix let me know and 

there's a high chance i'll be able to go in a different level. 

just give me a shout the day before or send an email from 

your blackberry first thing.

New York U.S. Dollar Trader 1: Thanks - our CP guys have been looking for it a bit higher - not a 

big deal 

U.S. Dollar LIBOR Submitter: if anything the cash has actually cheapened up since yesterday too 

albeit by 1/2 tick - true could get some sub 75 days thru the next 

week

April 1, 2005: (emphasis added)

London U.S. Dollar Trader 1: COULD WE PLS HAVE A LOW 6MTH FIX TODAY 

OLD BEAN?

September 21, 2005: (emphasis added)

London MMD Manager: Subject: “$ LIBORS: 83, 89, 96 and 11

LOWER MATE LOWER !!

U.S. Dollar LIBOR Submitter: will see what i can do but it’ll be tough as the cash is pretty well 

bid

London MMD Manager: [Another U.S. Dollar Panel Bank] IS DOIN IT ON 

PURPOSE BECAUSE THEY HAVE THE EXACT 

OPPOSITE POSITION - ON WHICH THEY LOST 25MIO 

SO FAR - LETS TAKE THEM ON!!

U.S. Dollar LIBOR Submitter: ok, let's see if we can hurt them a little bit more then

February 28, 2007: (emphasis added)

New York U.S. Dollar Trader 2: LIBOR HIGHER TOMORROW?

U.S. Dollar LIBOR Submitter: shouldn't be

New York U.S. Dollar Trader 2: COME ON. WE ALWAYS NEED HIGHER LIBORS !!!

HAHA

U.S. Dollar LIBOR Submitter: haha, i'll do my best fkcer

New York U.S. Dollar Trader 2: NO WORRIES. JUST CURIOUS, U SURVE THE 

DEBACLE OF TH PAST 24 HRS>

August 13, 2008: (response to U.S. Dollar LIBOR Submitter’s email) (emphasis added)

New York U.S. Dollar Senior Trader: Subject: $ lsbors unch
Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080

Oh bullshit.....strap on a pair and jack up the 3M. 

Hahahahaha

November 28, 2006: (email to London Pool Trading Manager) (emphasis added)

New York U.S. Dollar Senior Trader: Altho I don't have a huge 1 mL fix tomw, I am paying 1 mL 

on about 40bn throughout December so I was hoping for a 

low 1 mL fix tomw to set the tone

August 12, 2007: (emphasis added) 

New York Regional Manager: If possible, we need in NY 1mo libor as low as possible next 

few days....tons of pays coming up overall....thanks!

U.S. Dollar LIBOR Submitter: Will do our best [New York Regional Manager]. I'll coordinate 

the overnight in the same way as we did last week with [New 

York U.S. Dollar Trader 1] tomorrow

December 13, 2007: (emphasis added)

Frankfurt Non-Euro Desk Manager: [London Pool Trading Manager], I NEED YOUR HELP...IF 

IT SUITS YOU CAN WE PUT IN A HIGH LIBOR TILL 

NEXT TUESDAY IN THE 3 MTS?

London Pool Trading Manager: ok

Examples of False Reports and Attempts to Manipulate Euribor

July 10, 2005: (emphasis added)

London MMD Manager: HI FRDS ANY CHANCE TO PUSH UP YOUR 

CONTRIBUTION TO THE 3MTH EURIBOR FIX?

Euribor Submitter: HI [Euribor Submitter] HERE USUALLY IT WOULD BE 11 

ON OUR SIDE SO DO U REALLY NEED A 12 FOR 

TODAY AS DB CONTRIBUTION?

London MMD Manager: EONIA AT 2.068 AND O/N TRADING 2.08 IT WUD 

MAKE SENSE TO HAVE A HIGHER 3MTH FIX. WE 

SHORT A LOT OF JUNES ABOUT 40000 LOTS

Euribor Submitter: OK WE WILL CONTRIBUTE A 12 FOR TODAY AND 

MONDAY HAVE A NICE WEEKEND

London MMD Manager: THX A LOT [. . .]

July 6, 2006: (emphasis added)

Frankfurt Euro Desk Manager: HIHI [London MMD Manager], I JUST WANT TO CHECK 

WHETHER WE HAVE CONFLICTING INTERESTS IN 

THE JUNE 06 SETTLEMENT. IT DOESN'T MAKE 

SENSE IF WE TRY TO PUSH ONE WAY AND U WLD 

LIKE TO HAVE IT THE OTHER WAY AROUND. WE 

WLD PREFER A LOW 3ME FIXING TO PUSH JUNE06 

HIGH. IS THIS UR PREFERENCE AS WELL?

London MMD Manager: THX VM FOR CHECKING [Frankfurt Euro Desk Manager] -

YES WE WOULD PREFER A LOW FIXING AS WELL

Frankfurt Euro Desk Manager: THX [London MMD Manager], THAT WILL MAKE US 

MORE POWERFUL IN PUSHING THE FIX WE WANT 

IT.

March 23, 2007: (emphasis added)
Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080

Frankfurt Euro Desk Manager: FIXINGS AS USUAL MONSIEUR? LOW 1M HIGH 6M 

(SAME HERE)

London MMD Manager: yes please - thank you very much [Frankfurt Euro Desk 

Manager]

Frankfurt Euro Desk Manager: DE RIEN

April 13, 2007: (to Frankfurt Euro Desk Manager) (emphasis added)

Yen Desk Manager: HI MATE, JUST FOR UR GUIDE. WE TRY TO BID UP 

IN THE 3M TO PUSH THE FIX A BIT.

June 21, 2007: (to London MMD Manager) (emphasis added)

Frankfurt Euro Desk Manager: WE CONTINUE TO OFFER 1M CASH IN THE 

MARKTE TO KEEP 1ME FIX ON THE LOW SIDE.

July 03, 2008: (emphasis added)

London MMD Manager: [Frankfurt Regional Manager], I have a big favor to ask you.

Frankfurt Regional Manager: Tell me.

London MMD Manager: And, uh ... a big, big, big favor.

Frankfurt Regional Manager: Ok.

London MMD Manager: Bon. In March ...

Frankfurt Regional Manager: Yes.

London MMD Manager: We have, eh, we have 20 yards of a 6 month fixing. [ . . . ] A 

lot in in March. So, basically, um, basically, uh, we need 

high 6 month.

Frankfurt Regional Manager: You need high 6 month, ok.

London MMD Manager: High 6 month, yes.

Frankfurt Regional Manager: Sure, we will get high 6 month, no worries.

London MMD Manager: High.

Frankfurt Regional Manager: We will get high 6 month.

London MMD Manager: Es . . . especially on the IMM, on the 19th I have 7 yards.

September 26, 2008: (emphasis added)

London MMD Euro Trader 2: Just to let you know, it would suit me very much to have a 

high LIBOR tomorrow. So, I don't know if you can put it high 

or not or whatever it is, just to let you know, tomorrow it suits 

me to have high 3s.

Euribor Submitter: Umm. Yeh, there's one thing. We have to be careful. Usually 

we quote below Euribor, and right now we usually quote 

around 4 to 5 basis points below the expected Euribor just 

to show that we are on the better quality of the range of the 

contributors.

London MMD Euro Trader 2: I see ...

Euribor Submitter: So that's why, right now, if you look at our quote compared to 

the other contributors . . .

London MMD Euro Trader 2: I know, I've been noticing that, that's why I thought I would 

ask you if there is there any chance if you can put it up for 

me. I would really appreciate that. Just for tomorrow, ok?

Euribor Submitter: My coworker here says something, maybe 21 is possible.
Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080

Examples of Coordination with Derivatives Traders at Other Banks to Manipulate Euribor

June 9, 2005: (emphasis added)

Bank A Euro Swaps Trader: Amigo checked with my FFT their 3m euribor contribution 

which seems v low at 2.11 like ur FFT have u checked with 

yuoyr guys???

London MMD Manager: will tell them from tomorrow to put a higher fix..its way too 

low

September 29, 2005:

London MMD Manager: DON'T FORGET TO SET A HIGH FIX TODAY!

Barclays Senior Euro Swaps Trader: I told them they're going to set it at 2.13

London MMD Manager: goodness! that's going to hurt

That same day: 

London MMD Manager: DONT FORGET THIS HIGH 3M FIX FOR THE 

FRA/EONIA SPREADS

Bank A Euro Swaps Trader: we go for 18

London MMD Manager: hoping to go as high as that as well

September 11, 2006:

London MMD Manager: in October, we'll set the fixings at the sky, or that's not good 

for you?

Barclays Senior Euro Swaps Trader: no, no, at the sky is good better for me

September 28, 2006: (emphasis added)

Bank B Euro Swaps Trader: mate how u positionned on 3mth fras at the moment? u have 

interest in a high or low libors?

London MMD Manager: wud still love high rates mate, but i have to say that i bought 

loads of them some six months ago and sold back at high levels 

to our mutual clients let s say on emonth ago . . . so, nothing 

huge in my book for now . . . i reckon u' re in the same position 

right?

Bank B Euro Swaps Trader: I need high libors in octobers and lower in november 

WOULD LOVE IT . . . do u speak to ur guys in frankfurter 

for the fixing? [. . .]

London MMD Manager: yes and to [Bank A Euro Swaps Trader] as well - my fft will 

put a high fix all along october. . can u speak to your cash 

guys if it suits u ?

Bank B Euro Swaps Trader: will try, certainly

December 29, 2006: (emphasis added)

Barclays Euro Swaps Trader: today we need a low 3 month fixing, could you tell your 

guys as well if it suits you

London MMD Euro Trader: oh yes!!

April 9, 2008: (emphasis added)

London MMD Manager: you're going to help me, promise me?????

Barclays Senior Euro Swaps Trader: ahaah of course, mate, it looks like it wants to move big time [ . . . 

]

London MMD Manager: seriously mate, are you really helping [London MMD Euro 

Trader]
Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080

Barclays Senior Euro Swaps Trader: I'm going to help her big time

May 28, 2008: (telephone call to Barclays Euro Swaps Trader) (emphasis added)

London MMD Manager: Every day, every day I speak to my cash desk, to the cash 

brokers. I say “You have to raise the six month, you have to 

raise the six month!”

Examples of False Reports and Attempts to Manipulate Yen LIBOR

June 27-28, 2006: (emphasis added)

Senior Yen LIBOR Submitter: i will need high 1m jpy tomorrow, and low on thursday if u 

can have a look. i think 18.5 and 17.5 should work. thanks.

Junior Yen LIBOR Submitter: going in 0.19 in 1mth today....ubs went in at 21 yday so should be 

fine.....

September 18, 2006: (email to Junior Yen LIBOR Submitter)

Senior Yen Trader-Submitter: Hello Mate, Could you put 6m jpy libor at 48.5 pls 1m at 36.5 

3m at 42 Thanks

September 29, 2006: (emphasis added)

Senior Yen Trader-Tokyo: Hi, [Senior Yen LIBOR Submitter]. I like to have a lower 3&6 

month Libor today. [Senior Yen Trader-Tokyo]. 

Senior Yen LIBOR Submitter: OK NO PB

Senior Yen Trader-Tokyo: Tks vm, I don't like the spread between Libor and the 

implied is too wide ... Good day.

December 21, 2006: (emphasis added)

Tokyo Regional Manager: are you doing libors today, esp JPY or is [Senior Yen 

LIBOR Submitter]?

Junior Yen LIBOR Submitter: shld be [Yen Desk Manager] setting, let him know yr 

axes...i'll be inputting next week if need anything then mate

. . .

Tokyo Regional Manager: [Senior Yen Trader-Tokyo] will BBG you next week if he 

needs anything.. cheers mate

Follow-up instant message to Yen Desk Manager the same day:

Tokyo Regional Manager: is [Senior Yen LIBOR Submitter] in or are you doing JPY libors 

today?

Yen Desk Manager: [Senior Yen LIBOR Submitter] is doing it

Tokyo Regional Manager: he is not picking [Senior Yen Trader-Tokyo] up ... could you ask 

him to go high in 1m and 6m?

August 31, 2007: (emphasis added)

Senior Yen LIBOR Submitter: I don't have much in JPY fixings next week, just need to 

keep 3m and 6m on the high side I will try to send you 

levels will be on bbry if anything thanks very much

Junior Yen LIBOR Submitter: Cool, cheers and enjoy your holiday mate

October 4, 2007: (emphasis added)

Tokyo Regional Manager: Morning Monsieur, couple of questions... -Do you have a 

special axe re Libor settings at the moment? I've noticed 
Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080

you tend to be on the high side.. if you don't mind, lower 

fixings would suit us better in general [. . . .]

Yen Desk Manager: Hi mate , the libors are set by [Senior Yen LIBOR 

Submitter] as he got more exposure on the fixing than in 

the cash book , I ll fwd ur message to him

January 18, 2008: (emphasis added)

Tokyo Regional Manager: Hi [Senior Yen LIBOR Submitter], thanks very much for FRA 

trades you've done for us... another favour to ask: could we get 

low 1m and high 3m fixing today? thanks!

Senior Yen LIBOR Submitter: i will try

Follow-up message sent later that day:

Tokyo Regional Manager: why did you go in low 3m fixing? we had 17 trillion [yen] so 

it coming lower cost us a lot

Senior Yen LIBOR Submitter: sorry I messed up that one, i thought i had left 91

Tokyo Regional Manager: you owe me a drink!

Examples of Coordination with Derivatives Traders at Other Banks to Manipulate Yen LIBOR

August 28, 2008: (emphasis added)

UBS Senior Yen Trader: look i appreciate the business and the calls we should try to 

share info where possible also let me know if you need 

fixes one way or the other

Senior Yen Trader-Submitter: sure sorry mate have to go too busy on many things

UBS Senior Yen Trader: and i'll do the same if you have any joy with your setters

Senior Yen Trader-Submitter: no prob

September 1, 2008:

Senior Yen Trader-Submitter: [. . .] but going to put high libors today

UBS Senior Yen Trader: sure i think you guys are top in 1m anyways

Senior Yen Trader-Submitter: i am mate need it high!

September 18, 2008: (emphasis added)

UBS Senior Yen Trader: you got any ax on 6m fix tonight?

Senior Yen Trader-Submitter: absoluetly none but i can help

UBS Senior Yen Trader: can you set low as a favour for me?

Senior Yen Trader-Submitter: done

UBS Senior Yen Trader: i'll return favour when i can just ask have 75m m jpy a bp 

tonight

Senior Yen Trader-Submitter: np

UBS Senior Yen Trader: thanks so much

Senior Yen Trader-Submitter: [. . .] 73/90/99 am putting libors

UBS Senior Yen Trader: great thanks mate

In a follow-up message the next day, the UBS Senior Yen Trader offered the Senior Yen Trader-Submitter a 

deal, stating, “in fact cause you helped me on 6m yday.”

May 21, 2009: (emphasis added)

UBS Senior Yen Trader: cld you do me a favour would you mind moving you 6m 

libor up a bit today, i have a gigantic fix i am limit short 

can't sell anymore just watch
Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080

Senior Yen Trader-Submitter: i can do that

UBS Senior Yen Trader: thx

Follow-up message the next day:

Senior Yen Trader-Submitter: u happy with me yesterday?

UBS Senior Yen Trader: thx i don't see it going up again today

Senior Yen Trader-Submitter: me too

UBS Senior Yen Trader: only you and [Yen Panel Bank A] moved

June 15, 2009:

UBS Senior Yen Trader: is there any chance you cld set a high 6m tonight, just tonight, i 

have 1..5m usd bp fix no worries if you can't god knows where 

that all came from

Senior Yen Trader-Submitter: hum i think my libors will be unch for a while now....my led is 

quite high and i do not want 3m libor up

UBS Senior Yen Trader: me neither i need low 3m no prob ustnd you will help me out 

when 6m goes over the turn tho? i have 1m usd a bp that day 

too 

June 26, 2009: (emphasis added)

Senior Yen Trader-Submitter: Hello big boy

UBS Senior Yen Trader: hi

Senior Yen Trader-Submitter: is there a date u see we could have 6m libor ot is no point being 

stubborn in that direction an i do sthing else sorry 6m lower 

hopeviuosly no for teh next 3 weeks

[. . .]

UBS Senior Yen Trader: basically i will help you in 2 weeks time i am the saem way

Senior Yen Trader-Submitter: perfect

UBS Senior Yen Trader: but for the next 2weeks i really really need you to put 6m 

higfher

[. . .]

UBS Senior Yen Trader: after that i need 6m to crash off like you

Senior Yen Trader-Submitter: that is no problem for me, i do nothing with the cash guys 

until then

UBS Senior Yen Trader: i need you to move 6m up for 2 weeks mate 

[. . .]

UBS Senior Yen Trader: but please move 6m up on Monday

Senior Yen Trader-Submitter: understood

UBS Senior Yen Trader: thx i need you in the panel on Monday

Senior Yen Trader-Submitter: ok enough cheers

UBS Senior Yen Trader: i will then get our 6m way down after july 18th it is . . . and will 

try to get everyone else down too 

[. . .]

UBS Senior Yen Trader: only reason i on bid is i have huge huge position that way so am 

happy for to come lower after the 17th

Senior Yen Trader-Submitter: ok enough enough on my fra switch it is your best?

UBS Senior Yen Trader: tell me what you need to see i have a vested interest in 

making sure our fixings match just don't rip me off too much 

i had those round mid i got to go soon

Senior Yen Trader-Submitter: ok -1.5 and -1 am i asking too much?

UBS Senior Yen Trader: thats fine

[. . .]
Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080

UBS Senior Yen Trader: pls make sure you put the 6m up for me thx

Senior Yen Trader-Submitter: oof enough enough

UBS Senior Yen Trader: ok i'll shut up now

Senior Yen Trader-Submitter: of course

June 29, 2009: (emphasis added)

UBS Senior Yen Trader: pls remember 6m today...

Senior Yen Trader-Submitter: yah no worries...6m libor today good contrib?

UBS Senior Yen Trader: high pls as high as you can manage we are going 75 

anyway whatever you can do thx

Senior Yen Trader-Submitter: sure np...

July 21, 2009: (emphasis added)

UBS Senior Yen Trader: i been asked to reduce risk a bit

Senior Yen Trader-Submitter: ok

UBS Senior Yen Trader: i still going for lower 6m next month but position is huge 

if you want to do some 1y I/t 1 wld help me on risk limits 

obviously i am still very much paid and need a low 6m from 

next week [. . .]

Senior Yen Trader-Submitter: does not suit me taht much today need high 6m libor 

today.....

UBS Senior Yen Trader: same how about we do Ov6 spot as well ? so no fix today i 

just need to keep the risk guys at bay 200b 1y will bring me in 

limit i will pay you .665 for Ov6 today in same amount to 

knock the fix out if you need i think it does nothing today 

the fix that is wld be a massive favour

[. . .]

Senior Yen Trader-Submitter: can i do 200 and lower my 6m quote? oor we cross fra up to 

you mate

UBS Senior Yen Trader: rahter just cross the fra pls

Senior Yen Trader-Submitter: that is fair ok we done

UBS Senior Yen Trader: thanks

July 23, 2009: (emphasis added)

UBS Senior Yen Trader: ok we need to cordinarte the 6m drop when do you need it 

falling?

Senior Yen Trader-Submitter: whenever

UBS Senior Yen Trader: ok we need aug 11th you are back by then? if you need 

earlier let me know i am going to be away the whole of august 

almost if you need anything i am in london and zurich offices 

oon blackberry __________@ubs.com will be pushinh lower 

6m from aug 11th

Senior Yen Trader-Submitter: back on the 10th in ldn

UBS Senior Yen Trader: ok well lets sort 6m out from 11th will make a massive push

Examples of False Reports and Attempts to Manipulate Sterling

December 5, 2006: (to Sterling Desk Manager) (emphasis added)

Senior MMD Sterling Trader: HI MATE IF WE COULD GO FOR A 28 ON 3S LIBOR 

TODAY THAT WOULD BE GREAT

August 8, 2007: (email to Sterling Desk Manager)
Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080

Senior MMD Sterling Trader: LET US KNOW WHEN YOU DO LIBORS. NEED LOW 1S 

LOW3

August 1, 2008: (emphasis added)

Sterling LIBOR Submitter: [ . . . ] Um, we’ve got the two fixings up today, we we need a 

high LIBOR in the ones. Got a yard...

Sterling Desk Manager: Yeah

Sterling LIBOR Submitter: ...going out so we need a high uh high LIBOR in the ones 

and we’d need a low screen on the threes. I’ve got it at forty 

base points the LIBOR’s coming in at like seventy-eight and I’ve 

I’ve moved our screen to like thirty-eight so I’ve got to modify 

that ticket at eleven yeah?

January 28, 2009: (emphasis added)

Sterling LIBOR Submitter: Tomorrow we got the 1.3 billion that will be going out so 

you' ll want to leave that one month at one sixty, which you 

put the LIBOR is.

Sterling Desk Manager: Yeah

Sterling LIBOR Submitter: Umm, other than that, you want, you want the three months 

low again didn't you? Oh that, that spread is eighty... ah, 

probably eighty eight and a half, eighty five at the moment. 

Sterling Desk Manager: Oh is it?

Sterling LIBOR Submitter: Yeah, that's what the last I heard.

Sterling Desk Manager: Fine

Sterling LIBOR Submitter: Yeah, um, ni, ninety eight, six five, eighty eight and a half 

[unintelligible]...

Sterling Desk Manager: Yeah

Sterling LIBOR Submitter: ...eighty, eighty-five bids [unintelligible]...

Sterling Desk Manager: I'm a, I'm a, I'm happy with that.

August 31, 2010: (emphasis added)

Sterling LIBOR Submitter: [Senior MMD Sterling Trader’s] come over, he wants 3s 

[unintelligible] libor down a tick [unintelligible]

Sterling Desk Manager: No, no, no, no, no.

Sterling LIBOR Submitter: No, he’s got a fixing, he said. I said we’ve got stuff about 

the 15th of September. We need higher libors, don’t we.

Sterling Desk Manager: Yeah

Sterling LIBOR Submitter: [. . .] But you need it, we need 3s to go to 76 and 77.

Sterling Desk Manager: Yeah, I want it higher libor.

Examples of False Reports and Attempts to Manipulate Swiss Franc

March 26, 2007:

London MMD Swiss Franc Trader 1: hello sir, welcome back, you missed nothing, not sure if matches 

with you but my int is for a lower fixing, thanks

Swiss Franc Submitter 1: HI [London MMD Swiss Franc Trader 1], NOTED N LET U 

KNOW.....NO PROBL CIAOOO 

September 17, 2007: (emphasis added)

Swiss Franc Submitter 1: LET ME KNOW ON THE FIXINGS IN CASE U NEED 

SOMETHG SPECIAL
Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080

London MMD Swiss Franc Trader 1: i have been trying to run as little as possible in the tn (as it was just 

costing me money),.. another nice low 3m tom would be nice

September 25, 2008: (emphasis added)

Senior Yen Trader-Submitter: can you put a high 3m please?

Swiss Franc Submitter 1: sure 83?

Senior Yen Trader-Submitter: many thanks really need low 1 month today . . . . just for 

tpday . . . 

Swiss Franc Submitter 1: wud do 61 if u agree . . . . problem is not to quote too low to 

be deleted in the calculation process

November 28, 2008: (emphasis added)

Senior Yen Trader-Submitter: can we leave 1m unchanged tuesday? sorry until tuesday 

also will check dbqf sorry about that...

Swiss Franc Submitter 1: sure no probl will quote unchgd 1.00 for 1,2 and 3 mths if ok

Senior Yen Trader-Submitter: many Thanks

July 2, 2009: (emphasis added)

Non-Euro Desk Manager: Hi morning mate! Do you have any special requests for the 

libor?

Senior Yen Trader-Submitter: keep 1m, 3m and 6m where they are please

Non-Euro Desk Manager: ok will be done mate

March 10, 2010: (emphasis added)

Senior Yen Trader-Submitter: what ahppened withyour 6m libor

Swiss Franc Submitter 1: sh........did u have a refix?

Senior Yen Trader-Submitter: no not today back to 1 please

Swiss Franc Submitter 1: sure will take care tom