Switzerland's second largest bank, Credit Suisse, has agreed to pay $207 million to German authorities to end an investigation into hidden assets held by German clients.

The settlement announced Monday settles an inquiry by prosecutors in Dusseldorf into whether the bank helped German nationals avoid taxes when they sent their money to Credit Suisse.

The bank made no admission of responsibility in the case, one of several instances in which foreign governments have accused it of assisting investors to use Swiss bank-secrecy laws to hide their holdings. Switzerland has signed a number of treaties with other countries to make it easier for foreign tax authorities to pursue their citizens who are suspected of tax fraud.

In July, the U.S. Justice Department notified the bank that it is a target in a criminal tax evasion investigation.