The latest proposal deals mainly with a settlement for the roughly 100 Swiss banks that had US clients, but are not yet being investigated by US justice authorities. According to Swiss daily Tages-Anzeiger, these banks may face fines of 20% to 50% of the assets they are suspected of helping US citizens to hide from tax authorities.
Tages-Anzeiger said it had seen a copy of the proposal presented to SBA. The board of directors fully supports the programme as the best among tough alternatives, the spokeswoman said on Wednesday.
SBA directors include Boris Collardi, CEO of Julius Baer which is one of the banks being investigated by the US.
Current talks between Swiss and US officials centre on roughly a dozen banks under investigation, which include Credit Suisse.
The Swiss government has said it will grant these banks permission to hand over client data to the US, which will allow them to avoid charges as they cut individual deals.