ZURICH, SWITZERLAND – US-based private clients of Swiss bank Credit Suisse will no longer be able to do offshore banking with the company, in a move that may signal one of the first steps by an international bank to deal with Fatca (Foreign Account Tax Compliance Act), new US financial regulations that are expected go into effect in 2014, although the bank emphasizes that the decision was taken as part of broader measures to streamline the bank’s operations.

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