Financial regulator Swiss Financial Market Supervisory Authority (FINMA) has advised banks to set aside funds for legal costs associated with an American deal.
In August 2013, the US and Switzerland signed a deal to allow some of the Swiss banks to pay fines to avoid prosecution.
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FINMA spokesman was quoted by Reuters as saying that the regulator generally recommended banks book provisions for the 2013 financial year.
However, it has not disclosed further details on costs to cover legal costs and expected fines.
Swiss banks have been allowed to sign up for a program which requires banks to submit certain client data and face penalties of up to 50% of assets they managed for wealthy Americans.
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By GlobalData
