Swissbank fund defuses boycott

NEW YORK - Jewish leaders have scrapped plans to call for a world-wide boycott of Swiss banks because of the establishment of…

NEW YORK - Jewish leaders have scrapped plans to call for a world-wide boycott of Swiss banks because of the establishment of a Holocaust memorial fund by Switzerland's three biggest banks, a World Jewish Congress official said yesterday.

Switzerland's three biggest banks, Union Bank of Switzerland (UBS), Credit Suisse Group and Swiss Bank Corp (SBC), announced on Wednesday that they would set up a $70 million memorial fund to aid Holocaust victims.

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