Eleven listed banks, such as private banks EFG International and VP Bank and a host of small, largely retail players including local government-backed cantonal banks, have yet to tell shareholders what they intend to do.
Too Risky
The U.S. scheme, which lapses at the year-end, requires banks to hand over some previously hidden information and face penalties of up to 50 percent of assets they managed on behalf of wealthy Americans. If the banks shun the offer, individual firms and senior staff risk criminal prosecution.
Coop, majority-owned by Basler Kantonalbank which is among the banks in the crosshairs of U.S. prosecutors, said staying out of the program was too risky.
Coop took a 9 million Swiss franc ($10.14 million) provision and said it had only a few customers who were based in the United States, whose assets amounted to less than 0.3 percent of its total.
Migros said it was coming forward following comments from the Swiss regulator, which told banks they should err on the side of caution in judging their dealings with American clients.
Linth said it is entering the program in an effort to bring the matter to a swift conclusion.