ZURICH (Reuters) - U.S. authorities and Credit Suisse
Credit Suisse is now the largest bank in a long-running U.S. crackdown on undeclared funds held in hidden offshore accounts, including in Switzerland. Scores of Swiss banks have offered to cooperate with U.S. authorities in order to avoid prosecution.
A 2009 settlement for UBS
Credit Suisse has said it is cooperating with prosecutors and keen to reach a deal and, although no indications have been given on the size of any settlement, the bank took a 295 million Swiss franc ($324 million) provision three years ago to pay expected fines and legal fees.
The bank said in October it delivered "substantial, high-level" data on clients leaving, and is preparing to provide more specific information.
Sources told Reuters that since then, talks with U.S. officials have gone quiet because the U.S. authorities' focus had shifted to the wider Swiss banking industry.
Spokespeople for Credit Suisse and the U.S. justice department declined to comment on the report.
(Reporting by Katharina Bart and Oliver Hirt Additional reporting by Patrick Temple West in Washington; Editing by Louise Ireland)