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Swiss money market strong in 2000

A report issued by the National Bank on Saturday shows that the Swiss money market was healthy last year, with Swiss banks recording nearly SFr 4 trillion ($2.42 trillion) in deposits and trusts.

Despite continuing controversy over Swiss banking secrecy, analysts say Swiss financial markets are still attractive to investors.

Year-end results for 2000 showed that deposits and trusts held by Swiss banks amounted to SFr 3.954 trillion ($2.4 trillion). That's an 8 per cent increase over the same period in 1999.

The report also revealed that foreign assets held by Swiss banks last year came in at SFr 1.926 trillion ($1.17 trillion), resulting in a 10.5 per cent increase over 1999.

Meanwhile, Swiss assets went up by 4.3 per cent to SFr 1.609 trillion ($98 billion).

swissinfo with agencies

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