Following the agreement reached with the US in the US tax dispute, Credit Suisse was put under the supervision of a US watchdog, Neil Barofsky. N. Barofsky along with 50 employees of the law firm Jenner & Block moved to Paradeplatz. the cost of this supervision is estimated at a total of c.a. $22m/month including the $7m legal fees.
According to the Tages Anzeiger ‘for the period from July to September, costs incurred by the bank were c.a. USD 68m ‘for the fulfillment of requirements relating to the agreement with US authorities in connection with the cross-border US business’ as mentioned by Credit Suisse in the Q3 result communication. If we sum up the costs from April to September 2015, there are totalling c.a. $134m. Moreover, it is estimated that Credit Suisse spent $293m mainly to settle the US tax dispute from July 2013 to March 2015. Hence the conflict costs is estimated at $427m on top of the penalty of $2.6bn.
Credit Suisse declined to comment on this.