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Statement from the Swiss Bankers Association regarding the Federal Council decision on the US programme

  • The SBA welcomes the positive outcome of the Federal Council’s decision, as this means that the final step towards a solution has been taken and the US can now launch the programme.
  • The programme enables all banks in Switzerland to settle their US past quickly and conclusively and creates the necessary legal certainty.
  • As soon as the programme becomes public, each bank will analyse its situation and then make a decision.
  • A further positive factor is that the protection of employees can now be afforded to the best possible extent, as the agreement between the two social partners and the SBA will come into effect.