In an interview to the Schweiz am Sonntag, Patrick Gisel, the new Raiffeisen CEO as per October 2015, confirms that the bank is in intensive talks with the US authorities to settle the tax dispute. However, this will still take time and might not be resolved this year. He also confirms that the bank chose to enter the US Tax Program in Category 3.

As a reminder Category 3 banks are those that believe they have not engaged in activities that could have breached US law. An Independent Examiner (e.g. U.S. or Swiss law firm or accountant) will need to verify this.Information about the total managed US assets need to be provided by these banks as well as a confirmation that effective compliance programs are in place. They do not need to pay a penalty but the handling costs endured by fulfilling the requirements of the Program is born by these banks. They will be able to seek Non-Target Letters (NTL).

P. Gisel also comments on the future of banking and digitization of services.