UBS Had Libor-Rigging Guide, Says Hayes

Former UBS trader Thomas Hayes who is now on trial for his part in the Libor rigging scandal told prosecutors that UBS distributed an instruction manual on how to fix the Libor, showing just how much the practice had become standard procedure at the bank. “This is where what UBS is doing in terms of throwing individuals under the bus is really wrong,” Hayes told the Serious Fraud Office in 2013, reports Liam Vaughan for Bloomberg. Libor-rigging guide speaks volumes about UBS culture at the time After years of scandals, and finding out that essentially every rate that could be…