Swiss Bank Sees U.S. Fine as Part of Deferred Prosecution Deal

Photo Credit: Urs Keller (ex-press.ch)

By Carolyn Bandel

Zuercher Kantonalbank, the biggest Swiss cantonal bank, expects to pay a fine to U.S. authorities as part of a deferred prosecution agreement for its alleged role in helping Americans evade taxes.

“The bank will have to negotiate a DPA separately with the American authorities, which will also contain a fine,” Urs Ackerman, a spokesman for Zurich-based ZKB, said today in an e-mailed response to questions.

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