Switzerland, Austria, and Luxembourg have become the latest countries to agree concessions on bank secrecy.
Switzerland, Austria, and Luxembourg have become the latest countries to agree concessions on bank secrecy.
Their agreements come after talks with the Organisation for Economic Cooperation and Development (OECD), which sets rules on bank data sharing.
Their agreements come after talks with the Organisation for Economic Co-operation and Development (OECD), which sets rules on bank data sharing.
Liechtenstein and Andorra agreed similar OECD deals on Thursday. All had come under increasing pressure to reform their banking sectors.
Liechtenstein and Andorra agreed similar OECD deals on Thursday. All had come under increasing pressure to reform their banking sectors.
Last month Swiss bank UBS gave the US details of 300 of its American clients.
Last month Swiss bank UBS gave the US details of 300 of its American clients.
The agreements were announced ahead of a meeting of finance ministers and central bank governors from the G20 group of industrialised nations, which begins near London later.
Key global meeting
The meeting is likely to focus on the need for tougher regulation of banks and discuss increasing funding to tackle the crisis.
The agreements were announced ahead of a meeting of finance ministers and central bank governors from the G20 group of industrialised nations, which is due to start at a venue near London later.
The meeting is likely to focus on the need for tougher regulation of banks, and discuss increasing funding to tackle the crisis.
The Swiss government said it would now co-operate with the OECD on cases of international tax evasion.
This is the first time Switzerland has agreed to sign up to the OECD rules, having previously stated that it would compromise its long-standing banking secrecy rules.
It remains to be seen what impact the Swiss government's change of position will have on UBS and its continuing talks with US authorities.
While UBS has given the US details of 300 American account holders, it has so far rejected a request to hand over details of 52,000 people in total.
US officials are investigating whether the 52,000 have been avoiding paying tax illegally.
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