At Zuercher Kantonalbank (ZKB), project ‘BANNER’ refers to the exit of the US undeclared assets from the books of the bank. The project was initiated by the bank council in 2008 under the direct responsibility of the current CEO Martin Scholl. However, it seems that accounts were still opened in 2009 without tax declaration reports Inside Paradeplatz.
ZKB is a Category 1 bank, i.e. banks that were already under investigation by the DoJ at the time of the publication of the US Program on August 29, 2013. They are excluded from the US Program. Fines are defined on an individual basis and the institutions generally enter into a Deferred Prosecution Agreement (DPA). Informal statements from within the bank mention that the fine could reach $300m.