Final Settlement by Credit Suisse AG

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On 20 May 2014, Swiss bank Credit Suisse AG announced a comprehensive and final settlement regarding all outstanding U.S. crossborder matters. This final settlement included the entry of a guilty plea by Credit Suisse AG in connection with the former Swiss based crossborder banking business to one count of conspiracy to assist U.S. customers in presenting false income tax returns as well as Credit Suisse AG’s agreement to pay a total of approximately CHF 2.5 billion. The settlement was reached with the Department of Justice, the New York State Department of Financial Services, the Board of Governors of the Federal Reserve System and the SEC. Credit Suisse AG’s global regulators have confi rmed that there is no adverse impact on its key bank licenses.

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