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Credit Suisse deal with US authorities could top $2B: Report

Adam Jeffery | CNBC

New York state's banking regulator is seeking hundreds of millions of dollars from Credit Suisse in a probe into potential tax evasion that could push a settlement with U.S. authorities over $2 billion, sources close to the matter told Reuters.

The New York regulator made an opening bid of $1 billion, one of the sources said, though negotiations are expected to push down the amount of the final penalty.

The settlement with the New York State Department of Financial Services would come on top of a fine the Swiss bank is discussing with the U.S. Justice Department. Reuters reported last week that the Justice Department is seeking as much as $1.6 billion from the bank.

According to the sources, a deal between Credit Suisse and New York and the federal authorities could be reached in the coming days.

New York authorities opened an investigation into Credit Suisse earlier this year following a U.S. Senate report that accused the bank's staff of secretly traveling to the U.S. to recruit clients.

The Senate report said Credit Suisse's practices facilitated tax evasion against the U. S.

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