Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/259703 
Year of Publication: 
2018
Citation: 
[Journal:] Swiss Journal of Economics and Statistics [ISSN:] 2235-6282 [Volume:] 154 [Issue:] 1 [Publisher:] Springer [Place:] Heidelberg [Year:] 2018 [Pages:] 1-12
Publisher: 
Springer, Heidelberg
Abstract: 
The U.S. Tax Program for Swiss banks is a very significant part of the recent history of the Swiss financial industry. It has accelerated the transformation of the Swiss banking industry from a system that relied on bank secrecy to a much more compliant one. It was also rather costly for the banks involved. This short paper tries to identify the determinants of the individual penalties that were levied by the DoJ. We find that U.S. assets under management is the most important determinant. However, the average size of the accounts, the behavior of the bank vis-à-vis its American clients, the solvency of the bank, and the point in time when the bank settled with the DoJ also matter.
Subjects: 
Tax evasion
Bank secrecy
JEL: 
G21
H26
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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