Share this article

print logo

SWISS BANK OKS $68.5 MILLION FOR HOLOCAUST FUND

The Swiss National Bank said Friday it had reached a preliminary decision to contribute $68.5 million to a Swiss Holocaust Fund, expected now to total roughly $192 million.

The payment "is a gesture of humanity in the context of the renewed debate on Switzerland's economic and financial relations during World War II," the bank said in a statement.

Swiss banks currently are facing scrutiny and some punitive bans in the U.S. following criticism that they acted inadequately to restore money left in Swiss accounts to Nazi victims.

The Holocaust Fund is separate from a $4.3 billion Solidarity Fund that the Swiss government has proposed. The Solidarity Fund would be set up with money gained by revaluing Swiss gold reserves at the central bank.

There are no comments - be the first to comment