Switzerland, best-known for the secrecy of its banks, is fast becoming famous for public acts of contrition by its bankers. So far, former executives at UBS have returned 70 million Swiss francs, including CHF12 million from former chief executive Peter Wuffli and CHF22 million from former chairman Marcel Ospel. Given how much these executives earned in the boom years - Ospel collected CHF27 million in 2006 - the amounts are symbolic.

But Chairman Peter Kurer says he hopes even more current and former employees will feel inspired to follow their example. That is bound to fuel pressure on former bank executives in other countries to write checks to their old employers.