Spot the rich American shuffling uneasily. The Swiss and US governments on Wednesday settled a legal assault on Switzerland’s banking secrecy, a concept enshrined in Swiss law.

What started as a heavy-handed court bid by the Internal Revenue Service to force UBS to disclose details of 52,000 accounts held by suspected American tax evaders became an international law dispute. Now, the US will put its case against UBS on hold and instead request information on only 4,450 accounts under an existing double taxation treaty.