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.
Have you heard something about Swiss diplomacy that you’d like us to fact check?
Not all information circulating about Switzerland’s foreign relations is accurate or well understood. Tell us what you'd like us to fact check or clarify.
Researchers find high microbial diversity in glacial streams
This content was published on
Swiss researchers have discovered a surprising diversity of microorganisms in glacial streams around the world. However, this diversity is under threat as soon as it is discovered.
This content was published on
Fewer electric cars were sold in Switzerland in 2024 compared to the previous year. The electric mobility association Swiss eMobility says this is only a temporary dip.
This content was published on
Sunshine and fresh snow attracted winter sports fans to Swiss ski resorts over the holiday period. Many ski stations reported record figures.
New Year’s speech: President Keller-Sutter praises Swiss modesty
This content was published on
The Swiss president for 2025, Karin Keller-Sutter, has underlined the importance of compromise and modesty in Swiss politics in her New Year’s address to the nation.
Lindt wins ‘chocolate ball’ legal case against Aldi
This content was published on
Chocolate manufacturer Lindt & Sprüngli has won a legal case against the retailer Aldi Suisse for infringing the trademark rights of its Lindor chocolate balls.
Campaigners want Swiss central bank to hold bitcoin in reserves
This content was published on
Campaigners have launched a people's initiative to oblige the Swiss National Bank (SNB) to hold part of its reserves in bitcoin.
Switzerland welcomes 2025 with fireworks and ice plunges
This content was published on
Fireworks lit up the skies in Switzerland to celebrate New Year's Eve. Some people welcomed the new year by plunging into lakes in freezing temperatures.
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.