Banking in Switzerland - Swiss Bank

Banks in Switzerland is characterized by stability, customer orientation, confidentiality and protection of customer assets and information. Country's tradition of bank secrecy, which is from the Middle Ages, has been codified into law in 1934. All banks in Switzerland is regulated Swiss Financial Market Supervisory Authority (FINMA), based on its authority in the amount of federal statutes.

Since 10/11/2008 (2008 -10 to 11) [] update the banking sector in Switzerland has an average leverage ratio (assets / networth) and 29-1, while the short-term liabilities are as industrial 260% and the Swiss gross domestic product, or 1.273% and the Swiss central government debt .

Switzerland is a prosperous country, where Gross Domestic Product (GDP) is higher than some of the large Western European countries. In addition, the Swiss franc (CHF) was relatively stable compared to other currencies. In 2009, the financial sector comprised 11.6% of Switzerland's GDP and employed about 195 000 people (of which 136 000 employed in the banking sector), this corresponds to about 5.6% of the total Swiss workforce. In addition, Swiss banks will use an estimated 103 000 people abroad.

Swiss neutrality and national sovereignty of foreign nations recognized, to promote a stable environment for the banking sector could develop and prosper. Switzerland maintained neutrality through both World Wars, is a member of the European Union, and there was even a member of the United Nations until 2002.

Currently it is estimated that one third of all outside the country of origin (sometimes called "offshore" funds) held in Switzerland. In 2001, Swiss banks managed U.S. billion dollars in 2600 The following year, the U.S. treatment of 400 billion U.S. dollars less, and has been declining markets and stricter rules on Swiss banking. By 2007 this figure increased to around 6.7 trillion Swiss francs ($ 5,700,000,000,000).

Bank for International Settlements, an organization that facilitates cooperation between central banks in the world, located in the city of Basel. Founded in 1930, BIS has decided to invest in Switzerland because of neutrality was an important organization founded to countries that were on both sides of the Second World War foreign banks operating in Switzerland manage 870000000000 Swiss franc value of the property (in May 2006 [update]).

Swiss Financial Market Supervisory Authority (FINMA) is a public agency that oversees most of the banking and securities markets and investment funds. Regulatory authority is derived from the Swiss financial market supervision Act (FINMASA) and Article 98 of the Swiss Federal Constitution.

Swiss Banking Ombudsman's Office was established in 1993, is sponsored by the Swiss Banking Ombudsman Foundation, established by the Swiss Bankers Association. The Ombudsman's services that are offered free of charge, include mediation and assistance to people looking for hidden assets. The Ombudsman deals with complaints each year about 1,500 banks.