|Financial Market Development|
|5.3 (max 7.0), 8th out of 138 countries|
|6.0 (max 7.0), 13th out of 138 countries|
According to World Economic Forum's Global Competitiveness Report 2017-2018, financial market development in Switzerland is scored 5.3 out of maximum 7.0 and ranked 8th out of 138 analysed economies, trustworthiness and confidence of financial market is scored 5.3 (17th place).
Chart 1. Financial Market Development in Switzerland. Source: WEF.
Soundness of banks is scored 6.0 bringing Switzerland into the 13th place.
Chart 2. Soundness of Banks in Switzerland. Source: WEF.
|Maximum Protected Amount|
|100 000 CHF|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Switzerland are summarised in Table 1.
|Scheme Participants||all credit institutions operating in Switzerland (including branches of foreign banks), branches of Swiss banks abroad|
|Eligible Depositors||private individuals, commercial enterprises and public-sector offices|
|Covered Accounts||credit balances (e.g. personal accounts, savings accounts, investment accounts, salary accounts, numbered accounts, deposit accounts and current accounts)|
|Maximum Protected Amount||100 000 CHF|
|Paid In Currency||CHF|
Table 1. Deposit guarantee scheme in Switzerland.
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
|Local Currency (Swiss franc)|
Local currency (Swiss franc) deposit ceiling for Switzerland is set to Aaa (prime), foreign currency deposit ceiling is Aaa (prime).
|Number of Banks|
|Consolidated Assets (2016)|
|3 100.83 bln CHF (+2.47%)|
|Recent Changes (2016)|
|new banks: 2, closed banks: 7|
Currently there are 261 credit institutions operating in Switzerland.
In 2016 consolidated banking assets in Switzerland were 3 100.83 bln CHF. The consolidated banking assets' evolution is shown at Chart 3 below.
Chart 3. Consolidated banking assets in Switzerland.
Recent structural changes (2011 - 2016) of the banking sector of Switzerland are summarised in Table 2.
|Number of Opened Banks||2||2||2||2||5||2|
|Number of Closed Banks||0||17||16||8||15||7|
Table 2. Recent structural changes in the banking sector of Switzerland.
The list of the most recently opened banks in Switzerland is provided in Table 3.
|Bank of America Merrill Lynch International Limited, London, Zurich Branch (new)||January 2016|
|Credit Suisse (Schweiz) AG (new)||January 2016|
|Bank of America, National Association, Charlotte, Zurich Branch (closed)||January 2015|
|UBS Switzerland AG (new)||January 2015|
|CACEIS Bank, Paris, succursale de Nyon / Suisse (new)||January 2015|
|Banque Internationale de Commerce - BRED (Suisse) SA (new)||January 2015|
|China Construction Bank Corporation, Beijing, Swiss Branch Zurich (new)||January 2015|
|IG Bank S.A. (new)||January 2014|
|Zähringer Privatbank AG (new)||January 2014|
|PostFinance AG||January 2013|
Table 3. The most recently opened banks in Switzerland.
All the credit institutions operating in Switzerland can be classified into several categories. Table 4 summarises the number of banks in each category.
|Category||Number of Banks|
|Branches of foreign banks||23|
|Institutions with a special field of business||6|
|Private bankers who do not actively seek deposits from the public||6|
|Regional banks and savings banks||62|
|Stock exchange banks||44|