Update 2, 23:15  Zurich, Switzerland and Miami, Florida, USA (GenevaLunch) – News agency AWP mistakenly published a report Sunday, which was then widely circulated by world media, saying that UBS has been informed by US district court judge Alan Gold in Miami that he will delay hearings scheduled to start tomorrow morning in Miami. The judge is presiding over the case brought by the IRS against the Swiss bank to obtain the names of 52,000 bank clients.

The bank has clarified that a letter written to the judge jointly by the bank and the US government, asking for a delay, will be presented to the judge Monday when the hearing is scheduled to open. The two parties in the case have agreed to ask for the delay to allow the US Justice Department and UBS more time to try to negotiate an out-of-court settlement. Late Sunday night Swiss time the Swiss Foreign Affairs Department confirmed that it supports the request to delay but notes that the negotiations are confidential and no other information will be forthcoming.

Media reports initially noted that the request was filed today, Sunday, which is not correct. AWP/TSR.

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