- LLB represented is quote as having said that LLB "is confident that a solution can be found for Liechtensteinische Landesbank AG, Vaduz, in the coming weeks.” This could be the third bank, after UBS and Wegelin, to make its peace with the U.S.
- The U.S. information request was for "[a]ccounts that contained at least $500,000 at any time since the beginning of 2004."
- Responding to the request was "facilitated by Liechtenstein amending a tax law in March 2012."
Saturday, July 20, 2013
Liechtenstein Bank In U.S. Cross-Hairs (7/20/13)
It is reported that Liechtenstein Landesbank AG (LLB) has increased to $50 million its reserve for settlement with U.S. tax authorities. See Giles Broom, Liechtenstein Bank Triples U.S. Probe Provision to $50 Million (Bloomberg 7/18/13), here. Other key points from the article: