In this article from L’Agefi touches on the possibility for small banks to not take part in the US Program that was announced on August 29, 2013.

Douglas Hornung, a Geneva-based lawyer, points out that for the non-participation in the US Program, the banks should have had not more than a few US clients and none after August 2008. The clients should not have participated in a Voluntary Disclosure Program (VDP) by the IRS.

The participation of most banks in Category 3, banks that believe they have not engaged in activities that could have breached US law, seem unrealistic. Hence most banks are expected to sign up for Category 2.

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