Swiss Banks to List Names on Accounts From Holocaust Era

Swiss banks will publish the names on unclaimed Holocaust-era accounts around the world next month, they said Wednesday. For the first time, they also agreed to let an outside body decide the claims.

Swiss banks have been under international pressure to release what Jewish groups claim are billions of dollars in unclaimed deposits from Holocaust victims. The steps announced Wednesday were proposed to make it easier for victims and their survivors to reclaim their money.

The procedures, which also set deadlines for claims to be made, were agreed to by Switzerland’s banking commission, the Swiss Bankers Assn., and an international panel led by former U.S. Federal Reserve Chairman Paul Volcker.

An independent, international panel using “liberal rules of evidence” is to be set up to decide promptly on the claims, a joint statement said.

The banking commission said it is sending a letter to all Swiss banks requiring them to report by July 7 the details of all foreign-owned accounts that have been dormant since 1945. The banks will have to give the names, addresses and other identifying data on each account.

On July 23, Swiss banks will start publishing the names on the unclaimed accounts in a number of countries, including Israel and the United States, and post the lists on the Internet.