Liechtenstein: Assessment of the Supervision and Regulation of the Financial Sector Technical Note on the Basel Core Principles and IOSCO Securities

Volume/Issue: Volume 2008 Issue 196
Publication date: June 2008
ISBN: 9781451823349
$20.00
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Topics covered in this book

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Banks and Banking , Finance , Public Finance , ISCR , CR , asset manager , investment undertaking , financial market , FMA staff , rule-making authority , asset management , FMA website , budget consist , FMA lists , customer asset , Asset management , Auditing , External audit , Basel Core Principles , Bank supervision

Summary

Liechtenstein has a GDP of US$5.2 billion, of which 40 percent comes from industry and 30 percent from financial services. Currently, 15 banks operate in Liechtenstein (one additional bank is in the process of being wound down without loss to the depositors). The market is highly concentrated with the three largest banks accounting for 90 percent of the total banking balance sheet size; 86 percent of assets under management; 89 percent of operating profits before tax, and 63 percent of employment in the banking sector.