Friday, February 14, 2014

Barclays Swiss Affiliates Join US Swiss Bank Initiative; Updated List of Banks Joining (2/14/14)

I picked up that Barclary's two Swiss branch/affiliates are joining the US Swiss Bank initiative. 
Barclays says its Swiss private bank is part of US tax deal (Reuters 2/12/14), here.  Key Excerpt:
"Barclays Bank (Suisse) SA and Barclays Bank plc Geneva Branch are participating in the programme, which requires a structured review of U.S. accounts," Barclays said in its annual report, disclosed on Tuesday along with 12,000 jobs cuts. 
"This review is ongoing and the outcome of the review will determine whether any agreement will be entered into or sanction applied to Barclays Bank (Suisse) SA and Barclays Bank plc Geneva Branch."
The article does not say which category, but I infer they joined as Category 2, perhaps with the notion that, after full review if the facts are right, it might elect to go into Category 3.

Below is the list as I currently have it.  I show 35 banks joining as Category 2.  A DOJ representative says that 106 had joined by the critical year end date.  I may have missed some public information as to banks not on my list, but I understand that perhaps the majority of the 106 banks are not required to issue public information about joining the program.  I am sure that other public disclosures will be made.  So, I will update the list when I get new information.  And, in this regard, encourage readers to send me information on banks joining the program.  If possible, please link to a public source for the additional banks, since I don't won't to pass on unverifiable rumors.

Here is my list as it currently exists.

Aargauische Kantonalbank 2
acrevis Bank AG 4
AEK Bank 1826 4
Appenzeller Kantonalbank 4
Baloise Bank SoBa 3
Bank am Bellevue 3
Bank Coop AG 2
Banque Cantonale de Fribourg 2
Banque Cantonale de Genève 2
Banque Cantonale du Jura 2
Banque cantonale du Valais 2
Banque Cantonale Neuchâteloise 2
Banque Cantonale Vaudois 2
Banque Privee Edmond de Rothschild 2
Barclays Bank plc Geneva Branch 2
Barclays Bank (Suisse) SA 2
Basellandschaftliche Kantonalbank 3
Berner Kantonalbank 2
Cembra Money Bank AG 3
Cornèr Banca SA 2
Edmond de Rothschild Group 2
EFG International AG 2
Glarus Bank 4
Graubündner Kantonalbank 2
Hyposwiss Privatbank Zurich AG 2
Hyposwiss Private Bank Geneve SA 2
Linth Bank 2
Lombard Odier & Cie. 2
Luzerner Kantonalbank 2
Migros Bank AG 2
Nidwaldner Kantonalbank 2
Notenstein Privatbank Ltd. 3
Obwaldner Kantonalbank 4
Piquet Galland & Cie SA 2
Post Finance 2
Raiffeisen 3
Rothschild Bank AG, Zurich 2
Saanen Bank 2
St. Galler Kantonalbank 2
Schaffhauser Kantonalbank 2
Schwyzer Kantonalbank 4
Ticino Cantonal Bank 2
Union Bancaire Privee 2
Valiant Holding AG 2
Vontobel Holding AG 3
Valartis Bank (Switzerland) 3
VP Bank (Switzerland) 2
Walliser Kantonalbank 2
Zuger Kantonalbank 2

No comments:

Post a Comment

Please make sure that your comment is relevant to the blog entry. For those regular commenters on the blog who otherwise do not want to identify by name, readers would find it helpful if you would choose a unique anonymous indentifier other than just Anonymous. This will help readers identify other comments from a trusted source, so to speak.