Handbook of banking information pdf free download

In 2015, banks represented 53. Banking began in the eighteenth century by way handbook of banking information pdf free download the riches of merchants. 1805 as a merchant bank. Swiss National bank during 1852.

In 2009, the financial sector comprised 11. Furthermore, Swiss banks employ an estimated 103,000 people abroad. The Foreign Banks in Switzerland Association reported that from the start of 2012 to the end of May 2013, the number of foreign-owned private banks operating in Switzerland declined from 145 to 129 due to the roll-back of bank secrecy regulations. Foreign banks in Switzerland saw their pretax margin decline from 38 basis points in 2007 to 20 basis points in 2012. Article 98 of the Swiss Federal Constitution. The ombudsman handles about 1,500 complaints raised against banks yearly.

On the 27th of May 2015, Switzerland signed an agreement with the EU that will align Swiss bank practices with those of EU countries, and in effect will end the special secrecy that EU-resident clients of Swiss banks had enjoyed in the past. Under the agreement, both Switzerland and EU countries will automatically exchange information on the financial accounts of each other’s residents from 2018. This is not, however, the case. Swiss ruling circles performed the 1934 reinforcement without humanitarian motives in mind.