Banking in Switzerland
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"Swiss Bank" redirects here. For the former bank, see
Swiss Bank Corporation.
A cantonal bank near Bern
All
banks in
Switzerland are regulated by
Swiss Financial Market Supervisory Authority (FINMA), which derives its authority from a series of federal statutes. The country's tradition of
bank secrecy, which dates to the
Middle Ages, was first codified in a 1934 law.
[1]
As of 11 October 2008 (2008 -10-11)
[update], the banking industry in Switzerland has an average leverage ratio (assets/networth) of 29 to 1, while the industry's short-term liabilities are equal to 260% of the Swiss
GDP or 1,273% of the Swiss national debt.
[2]