Bloomberg News

Swiss Bankers Want U.S. Treaty ‘as Soon as Possible,’ Odier Says

November 07, 2011

Nov. 7 (Bloomberg) -- Patrick Odier, chairman of the Swiss Bankers Association, said an agreement between Switzerland and the U.S. to resolve a dispute over tax evasion by Americans with Swiss banks should be reached “as soon as possible”.

“If it would be the case that an agreement is reached this month, I would be happy,” Odier said on the sidelines of a conference in Lucerne today. “It could become a deal that draws a final stroke.”

U.S. and Swiss officials are concluding talks on a civil settlement amid U.S. criminal probes of 11 companies, including Credit Suisse Group AG, suspected of helping American clients hide money from the Internal Revenue Service, five people with knowledge of the matter said last month.

Switzerland is aiming for an all-encompassing solution that will apply to all banks, Finance Minister Eveline Widmer- Schlumpf said in an interview last month.

--Editors: Jon Menon, Steve Bailey

To contact the reporter on this story: Carolyn Bandel in Zurich at cbandel@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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