Swiss banks Migros Bank, Bank Coop and Linth Bank have also agreed to participate in US tax probe brokered by the Swiss and US governments.

They join Valiant Holding and Berner Kantonalbank which have also confirmed their participation last week.

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On 29 August 2013, Switzerland signed deal with the US Department of Justice to end banking secrecy on undeclared American clients.

According to Reuters, eleven listed Swiss including, private banks EFG International and VP Bank, have yet to tell shareholders what they intend to do.

Banks had until Monday to inform the Swiss regulator of their intentions.

Under the programme, Swiss banks which are not yet under investigation have been given time until the end of the year to decide whether they will join the voluntary US tax disclosure program or risk costly prosecution.

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Post deadline, Swiss banks face risk of potential fines as high as 50% of assets managed by them on behalf of their American clients.