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.
Non-believers significantly underrepresented in Swiss parliament
This content was published on
While non-believers make up the largest group in the Swiss population at around 34%, they rank only third in Parliament with just 23%.
Swiss NGO offices in Ukraine hit by Russian strike
This content was published on
On Wednesday morning, the offices of the Swiss Foundation for Demining (FSD) were struck by a Russian missile in Kharkiv, eastern Ukraine.
This content was published on
A group of climate protesters blocked the road to Zurich Airport on Wednesday morning. The police quickly cleared the demonstration.
Surge in PhDs in Switzerland driven by international students
This content was published on
The number of PhD students in French-speaking Switzerland has doubled over the past 30 years, largely due to the influx of international students.
Switzerland to host US-mediated peace talks on Sudan
This content was published on
The United States announced that Sudan’s army and the Rapid Support Forces are set to hold peace talks in Switzerland in mid-August.
Stress research: voting campaigns can trigger stress among minorities
This content was published on
Researchers at the University of Zurich showed in a study that they released more stress hormones during the referendum campaign.
Swiss justice minister advocates for greater sovereignty through bilateral agreements
This content was published on
In a networked world, sovereignty can be enhanced by regulating relations with important partners, Jans wrote in a NZZ commentary on Tuesday.
No heat records in sight (yet) despite the ‘dog days’
This content was published on
The dog days—traditionally the hottest days of the year—began on Tuesday. However, the weather service Meteonews predicts that Switzerland is unlikely to see new temperature records in the near future.
Swiss employees to work slightly more in 2023 than in previous year
This content was published on
The long-term trend is different with the weekly working hours per full-time employee decreased significantly, says a report by the Federal Statistical Office.
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.