- 3 min
Within the framework of the agreement entered into between Switzerland and the United States of America in August 2013 that grants to the US authorities a right to investigate on the business behaviour of Swiss banks towards American taxpayers, Crédit Agricole Suisse, which accepted in December 2013 to participate in the US Tax Program, signed a Non-Prosecution Agreement with the US Department of Justice on 15 December 2015.
Pursuant to this Non-Prosecution Agreement, Crédit Agricole Suisse paid a penalty of USD 99,211,000.
The payment of this penalty is already covered by reserves and will not impact the 2015 financial results.
Crédit Agricole Suisse also committed itself to comply with various obligations as well as to fully cooperate with the American authorities.