Banking in Switzerland
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Banking in Switzerland dates to the early 18th century through Switzerland's merchant trade and over the centuries has grown into a complex and regulated international industry. Banking is seen as emb
The Mont Cervin Palace in Zermatt. A hub of tourism, the city is serviced by many private banks. Underground bunkers and storage facilities for gold are maintained at the foothills of the Swiss Alps.
Switzerland's mountainous terrain helps to store gold in underground bunkers.
International pressure to roll back banking secrecy is seen as an attack on Swiss culture and values. The Swiss parliament expressed an interest in adopting banking secrecy into their constitution in 2017.
Worldwide headquarters of the Bank for International Settlements in Basel
The Swiss Banking Act or Federal Act on Banks and Savings Banks is a Swiss federal law and act-of-parliament that operates as the supreme law governing banking in Switzerland. Although the federal law
The federal law officially codified hundreds of years of banking secrecy in Switzerland. Pictured: The law was announced in front of the Three Confederates statue to the Swiss public and international community in the Federal Palace of Switzerland during a 1934 special assembly.
The largest bank in Switzerland: UBS
Credit Suisse: Formerly the second largest bank in Switzerland, now a subsidiary of UBS