Dear Reader
The Swiss Bankers Association coordinated the programme on behalf of the sector and clarified questions relating to its implementation with the authorities and politicians on an ongoing basis. This was an impressive demonstration of how we can work together to achieve results and introduce improvements.
In recent years, we have often succeeded in reaching compromises together with all banking groups and of thus speaking with one voice. Significant progress was achieved, especially in dossiers that are particularly important for banks with a domestic focus, such as the small banks regime, which has now been in force for a year.
The coming year will also be challenging, and a new course is being set in terms of the work of the SBA: Raiffeisen Switzerland has regrettably decided to leave the Swiss Bankers Association at the end of March 2021. I remain convinced that together, we can accomplish even more for our financial centre. Our doors therefore remain open to Raiffeisen. At the same time, we are looking to the future and will continue to be of service to our members.
The key mission that we pursue in our work is to serve the interests of the Swiss banking centre. Banks, together with insurers, are a key pillar of the Swiss economy. The latest study by BAK Economics shows that, including all direct and indirect effects, the Swiss financial sector generated gross value added of CHF 88.1 billion in 2019. This corresponds to 12.5% or one-eighth of the total economy. Read the article about the study to learn more.
An equally important but not uncontroversial topic is the question of market access. Following the clear rejection of the “termination initiative”, the right signals must be sent to Brussels to ensure that the talks regarding the framework agreement continue. However, the Swiss population also needs to be convinced of the merits of this approach. You can read more about this in the article on the subject of market access.
The data protection law adopted in September was also the subject of much political discussion. Overall, the law results in a closer alignment with the European standard. However, features particular to Switzerland have been preserved. Find out more here.