U.S. and Swiss banks Société Générale, Berner Kantonalbank reach resolution

WASHINGTON/ZURICH, June 9 (Reuters) - Swiss banks Société Générale Private Banking SA and Berner Kantonalbank AH have agreed to pay the United States multimillion-dollar penalties under a resolution announced on Tuesday by the U.S. Justice Department. Under the department's Swiss Bank Program, Société Générale will to pay a nearly $17.81 million penalty and Berner Kantonalbank will pay a nearly $4.62 million penalty, U.S. Justice Department officials said in a statement. Berner Kantonalbank said in a statement the penalty will have no impact on its results for the current year and that it had already made appropriate provisions in 2013.

U.S. and Swiss banks Société Générale, Berner Kantonalbank reach resolution source: http://finance.yahoo.com/news/u-swiss-banks-soci-t-160244614.html