Statement from the SBA regarding the settlement of Credit Suisse with US authorities

  • The SBA takes note of the settlement between the Credit Suisse and the US authorities and acknowledges that the solution respects the Swiss legal framework.
  • It is positive that Credit Suisse can hereby rule off the negotiations with the US and can again concentrate fully on its business activities.
  • Now, the SBA expects that the other Swiss banks subject to an investigation by the US Department of Justice reach settlements soon as well, which should also be consistent with the principles of fairness and proportionality.