As a result of international pressure, the Swiss federation has decided to abolish banking secrecy with effect from 2018. Currently, Switzerland does not provide other countries with information about assets of residents of those countries held by banks located in Switzerland. With effect from 2018, Switzerland will proceed to the automatic provision of banking information. This step is very special, because the Swiss have always adhered to "their" banking secrecy. However, international pressure from the European Union and the OECD has led the Swiss to abolish banking secrecy. Further information on this subject can be obtained from Mr Sjobbema.