All banks in Switzerland are regulated by Swiss Financial Market Supervisory Authority (FINMA), which derives its authority from a series of federal statutes. The countrys tradition of bank secrecy, which dates to the Middle Ages, was first codified in a 1934 law. As of 11 October 2008 (2008 -10-11)[update], the banking industry in Switzerland has an average leverage ratio (assets/networth) of 29 to 1, while the industrys short-term liabilities are equal to 260% of the Swiss GDP or 1,273% of the Swiss national debt. Source: Wikipedia
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