The Regulation of Foreign Banks in Switzerland (1956-1972)

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Etat: Public
Version: Final published version
ID Serval
serval:BIB_B8890D6F0E6B
Type
Actes de conférence (partie): contribution originale à la littérature scientifique, publiée à l'occasion de conférences scientifiques, dans un ouvrage de compte-rendu (proceedings), ou dans l'édition spéciale d'un journal reconnu (conference proceedings).
Collection
Publications
Institution
Titre
The Regulation of Foreign Banks in Switzerland (1956-1972)
Titre de la conférence
Foreign Financial Institutions & National Financial Systems
Auteur(s)
Giddey T.
Editeur
The European Association for Banking and Financial History
ISBN
9783980805049
2303-9450
Statut éditorial
Publié
Date de publication
2013
Editeur scientifique
Aspey M., Hertner P., Kaczmar K., Skiba J., Stiefel D., Valerio N.
Série
Studies in Banking and Financial History
Pages
449-485
Langue
anglais
Résumé
The Swiss financial centre witnessed an important shift during the 1960s: the number of foreign banks and their importance in relation to the domestic banking sector significantly increased. Faced with this rapid development, Swiss bank representatives and political and monetary authorities reacted strongly. This paper investigates the evolution of the regulatory response by Swiss banking policy actors to the proliferation of foreign financial in- stitutions. In 1969, those reactions led to the adoption of a discriminatory regime, setting higher entry barriers for foreign banks than for domestic institutions. After examining possible reasons for the attractiveness of Switzerland to foreign banks, this paper will analyse the concerns and fears of the domestic banking sector and its regulators. In this regard, it appears that issues such as mere competition, preservation of the international reputation of the Swiss banks and anti-inflationary monetary policy were central to the chosen regulatory regime. Moreover, this paper shows that foreign banks were used as scapegoats in the evolution of the Swiss system of banking supervision. They were more tightly regulated, yet the general framework remained very lax.
Création de la notice
01/07/2013 10:33
Dernière modification de la notice
20/08/2019 15:26
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