FINMA sees increased risks for Swiss financial sector
The Swiss financial sector is facing mounting risks due to uncertainty over lending and interest rates, according to the Swiss financial watchdog (FINMA).
This content was published on
2 minutes
Reuters/Keystone-SDA/sb
Português
pt
Agência reguladora vê riscos crescentes para o setor financeiro suíço
The “FINMA Risk Monitoring 2022″ report publishedExternal link on Thursday identified seven principal risks for the financial sector, including interest rates, credit linked to mortgages and other loans, cyberattacks, combating money laundering, and increased impediments to cross-border market access.
Apart from the risk of cyberattacks, which remains high, the level of risk in all other categories has increased compared to last year, FINMA notes.
“Global economic growth has slowed down considerably in recent months due to the war in Ukraine. In view of the high inflationary pressures, central banks have altered their monetary policy and raised interest rates considerably in some cases,” the watchdog said.
More
More
Swiss economy slows but stays in the black
This content was published on
Switzerland’s economic output grew 0.3% between April and the end of June but the economy faces uncertainties for the rest of the year.
In August, the Swiss Bankers Association (SBA) said banks are facing uncertain conditions this year, following strong growth in 2021. Assets under management fell 4.4% between January and the end of June.
Business groups have also expressed concern about rising energy costs and shortages of some important materials.
The rate of inflation slowed to 3% in October from 3.3% in September. Wages in Switzerland are not keeping pace with inflation, and in 2022 the purchasing power of employees has dropped significantly. This has led to the highest loss in real wages for Swiss workers in 80 years.
In September UBS bank predicted GDP growth of 2.4% this year, but reduced its 2023 forecast from 0.9% growth to 0.6%.
More
More
Swiss face biggest loss of purchasing power since 1942
This content was published on
Wages in Switzerland are not keeping pace with inflation, and in 2022 the purchasing power of employees has dropped significantly.
Young undocumented migrants gain easier access to vocational training
This content was published on
Rejected asylum-seekers and young undocumented migrants in Switzerland will have easier access to basic vocational training from June 1.
Migration: Swiss government wants to shorten reunification period for families
This content was published on
Family members of people temporarily admitted to Switzerland should in future be able to join them after two years instead of three.
This content was published on
2023 was a record year for the Rhaetian Railway in several respects. Never before has the narrow-gauge railway in Graubünden, eastern Switzerland, transported so many passengers and cars.
Swiss CFOs much more optimistic despite global uncertainty
This content was published on
The main concerns of business leaders in Switzerland are geopolitical uncertainty and the important trading partners Germany and China.
Record organ donation in Switzerland despite high rejection rates
This content was published on
More organ donations were recorded in Switzerland in 2023 than ever before. This was despite a high rejection rate of 58% by surviving relatives.
This content was published on
Seven years after the death of record-breaking Swiss mountain climber Ueli Steck, his estate is going to the Alpine Museum of Switzerland in Bern.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss face biggest loss of purchasing power since 1942
This content was published on
Wages in Switzerland are not keeping pace with inflation, and in 2022 the purchasing power of employees has dropped significantly.
This content was published on
Switzerland’s economic output grew 0.3% between April and the end of June but the economy faces uncertainties for the rest of the year.
Experts pessimistic about 2023 outlook for Swiss economy
This content was published on
The BAK Economics market research institute has confirmed its forecast for the Swiss economy this year, but it is more pessimistic about 2023.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.