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SWISS BANKERS ASSOCIATION COMMENT ON JOINT STATEMENT (ENGLISH)

     (The following press release from the Swiss Bankers Association was 
received by e-mail. The sender verified the statement.) 
Statement from the Swiss Bankers Association regarding the publication of the 
US programme 
Dear Sir or Madam 
Basel, 30 August  2013 
Please find attached the statement from the SBA regarding the publication of 
the US programme. The statement is published on our website 
www.swissbanking.org. 
Statement from the Swiss Bankers Association regarding the publication of the 
US programme 
The SBA takes note of the publication of the US programme. 
The programme brings with it painful consequences for the banks in Switzerland. 
The fines in particular are at the upper end of legally acceptable and 
economically bearable levels. It is, however, the sole remaining solution for 
enabling the banks to resolve the legal problems with the US conclusively, and 
for creating legal certainty. 
Each bank is now requested to analyse its situation unconditionally within the 
very tight deadline, and then to take an according decision. The SBA will 
support the banks in this process as far as possible and will fulfil important 
coordination tasks.  
With regards to certain ambiguities in the programme, the SBA expects the DoJ 
to enter into a constructive dialogue with the participating banks, in order to 
enable the banks to implement the programme. 
A positive factor is that the protection of employees can now be afforded to 
the best possible extent, as the agreement between the two social partners and 
the SBA will come into effect.
Important: Should you have any problems with opening or reading the 
pdf-attachement, please send your message to celine.freivogel@sba.ch. Thank 
you. 
Contact address 
Thomas Sutter, Head of Communication, T +41 61 295 92 06
Rebeca Garcia, Head of Communications Europe, T +41 61 295 92 55
Sindy Schmiegel Werner, Head of Communications UK, T +41 61 295 92 15
Internet www.swissbanking.org
http://twitter.com/SwissBankingSBA 
 Kind regards 
Swiss Bankers Association (SBA)
Aeschenplatz 7, P.O. Box 4182, 4002 Basel, Schweiz
Tel. +41 61 295 93 93
Fax +41 61 272 53 82
 
 
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