According to the SonntagsZeitung Credit Suisse is about to sign a guilty plea stating that they were unwillingly “running a criminal enterprise”. Lawyers familiar with the matter were informed beforehand.

The guilt of criminal activities will fall upon the American desk employees. The leadership was said to be lied to and did not know anything about the wrongdoing at that time.

With such a deal, access to the dollar market for Credit Suisse is not impacted according to various sources.

Not covered in the deal is how the transmission of the client data will be handled as per the comment of a Credit Suisse Manager.

Insiders mention that aggravated the situation by delivering unsorted documentation where key documents were mixed together with non relevant information.

The fine speculations remain in the USD 1 – 3 billion range.

Signing this deal should have consequences for the top management, especially the CEO, Brady Dougan, and the President, Urs Rohner, who might have to step down and take the responsibility.
Pressure on the remaining banks seeking an agreement with the Department of Justice is increased.