CREDIT SUISSE has confirmed that it has informed some of its American clients with offshore private banking accounts that their names would be revealed to the US tax authorities.

The Swiss banking group did not disclose how many clients had been notified in the latest twist in a long-running tussle between Washington and a substantial number of Swiss banks after allegations by the US that some banks had actively helped wealthy Americans evade tax.

In 2009, UBS, Switzerland’s biggest bank and one of the world’s largest wealth managers, paid $780 million to settle criminal charges and the Swiss authorities instructed the bank to provide the names of almost 5,000 US clients.

Since then, US investigations have been extended to cover other private banks, including Credit Suisse. After indicting former Credit Suisse employees, the US authorities last July placed the bank itself under investigation.

The Swiss government has been trying to broker a settlement to cover Credit Suisse and the other banks, which include Julius Baer.

This month, Credit Suisse revealed it had set aside €238 million to cover part or all of its share of any deal. – Copyright The Financial Times Limited 2011