In order to secure a global civil settlement with the US authorities, Widmer-Schlumpf said that they were discussing the possible fine their banks will have to levy to the US authorities.

Additionally, Switzerland was also trying to get the US Department of Justice to drop criminal probes of 11 banks, including Credit Suisse and Julius Baer, Widmer-Schlumpf added.

Access deeper industry intelligence

Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.

Find out more