Bloomberg is reporting that Rahn & Bodmer Co., the Swiss private bank established by silk traders in 1750, announced that it is cooperating with a U.S. Department of Justice probe into cross-border accounts of American clients.

Rahn & Bodmer is classified as a “Category 1” Swiss bank and is therefore ineligible for the Department of Justice’s historic non-prosecution program.  The private bank has about 12.4 billion Swiss francs ($13 billion) under management.  The bank asserts that it stopped accepting undeclared U.S. assets five years ago but declines to provide details on amount of U.S. client funds that it holds.