Credit Suisse has reached an agreement in principle with US authorities to pay around $5.28 billion to settle disputes over the sale of mortgage-backed securities, the Swiss bank said on Friday.

"Under the terms of the settlement, Credit Suisse would pay to the DoJ (US Department of Justice) a civil monetary penalty of $2.48 billion," it said in a statement. "In addition, Credit Suisse would provide consumer relief totaling $2.8 billion over the course of five years post settlement."