The Swiss Bankers Association and the Swiss financial centre. Swiss Bankers Association (SBA)

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1 The Swiss Bankers Association and the Swiss financial centre Swiss Bankers Association (SBA)

2 Table of contents The Swiss Bankers Association Facts and figures about the Swiss financial centre

3 The Swiss Bankers Association

4 «The Swiss Bankers Association advocates for entrepreneurial freedom that enables banks to innovate and develop.» Herbert J. Scheidt, SBA President

5 The Swiss Bankers Association (SBA) Umbrella organisation for the Swiss banks Founded in 1912 Our main purpose: maintain and promote the best possible framework conditions for the Swiss financial centre both at home and abroad.

6 Priorities of the SBA 2019

7 Creating Scope Market access As an important export industry, the financial centre is to be given improved access to important target markets. This is achieved vis-àvis the EU by means of equivalence procedures and bilateral agreements, among other things. Stamp duty and withholding tax In the interest of an attractive capital market, the SBA advocates for the abolition of stamp duty and an implementation-friendly withholding tax reform. Securitisation market The SBA wants to achieve improved access for SMEs to the capital market. The securitisation market is to be strengthened.

8 Shaping the Future Digitalisation The SBA is committed to create forward-looking framework conditions that offer scope for the success of innovative business models. Sustainability The SBA actively supports regulatory developments in order to continue to ensure Switzerland s leading role in sustainable and impact investing, and to tap new segments (e.g. green bonds). Pension schemes Occupational pension plans are to be strengthened long-term by modernising the investment guidelines (Prudent Investor Rule).

9 Strengthening competitiveness Regulatory process The sector is to be involved in national and international regulations at an early stage and on an ongoing basis. New regulations are only to be introduced on the basis of a cost/benefit analysis. The regulations are to comply with the principles of commensurability and proportionality and ensure the international competitiveness of Swiss banks. Basel III finalized The SBA advocates for a commensurate implementation of the international standards for capital adequacy regulation. The competitiveness of the Swiss financial centre is to be taken into account in terms of the timing and content thereof. Mortgage lending market The SBA promotes a level competitive playing field. Regulation is not to be tightened nationwide. An accumulation of redundant or overlapping requirements is to be avoided. OASI-tax proposal We support the OASI-tax proposal. This is essential for the attractiveness of Switzerland as a location.

10 Stabilität und Integrität sicherstellen Deposit protection The SBA is committed to an effective and balanced revision of depositor protection. Particularly important is working towards a solution which ensures an adequate cost-benefit ratio. Anti-Money Laundering Act With the revision of the anti-money laundering provisions, the new international requirements are to be taken into account in a commensurate manner.

11 Members of the Swiss Bankers Association 8 bank groups Big banks (4) Cantonal banks (24) Foreign banks (99) Raiffeisen group (1) with 270 independent cooperative banks Other banks (14) Stock exchange banks (43) Regional- und savings banks (62) Private bankers (6) 285 member institutions The SBA has 285 member institutions, of which 234 are banks individual members The following members of member institutions can become individual members: chairmen, vice-chairmen, members of the executive board and senior management. They alone have a voting right at the general assembly.

12 Asset Management Private Banking Retail Banking Capital Markets Digitalisation Education Legal and Compliance Financial market regulation and accounting Tax Swiss Commission for Financial Standardisation Independent supervisory board of the agreement on the Swiss banks code of conduct with regard to the exercise of due diligence Structure of the Swiss Bankers Association 4 business-oriented steering committees Board of Directors (19 members) Commissions Almost 500 representatives of member banks work on an voluntary basis in the steering committees, commissions and working groups 5 transversal commissions Other Composition of the board of directors: President: H. J. Scheidt UBS (1) VAV*** (3) CS (1) Raiffeisen (1) AFBS* (3) Private banks(2) VSKB** (5) Regional banks (2) * Association of Foreign Banks in Switzerland ** Association of Swiss Cantonal Banks *** Association of Swiss Asset and Wealth Management Banks Private Banking & Asset Management Retail Banking & Capital Markets CEO Tax, Legal & Compliance and Regulatory Communication & Public Affairs Secretariat Main office in Basel, other offices in Zurich and Berne; around 55 full time equivalents Operations

13 «The Swiss Bankers Association works to ensure that all banks enjoy the best possible operating conditions in Switzerland, so that they are able to compete with each other effectively.» From the SBA s mission statement

14 The mission of the Swiss Bankers Association Representing the interests of the banks Promoting the image of the Swiss financial centre Facilitate the exchange between banks and bank employees Foster an open dialogue with the public Training of junior staff and executives Developing self regulation

15 Our strategy for the banking sector Objective: A competitive, diversified and high-performance banking sector that benefits clients, the economy and Switzerland. Improve framework conditions for the banking sector Improve the regulatory process and limit overregulation Ensure and improve access to important export markets Promotion of high standards in relation to quality of service and products, a good reputation, and a strong capacity for innovation in the banking sector

16 The SBA s overarching areas of focus Clear positioning Acting with foresight Close collaboration between the members of the SBA and other associations

17 Facts and figures about the Swiss financial centre

18 The Swiss financial centre s core values Stability Universality Responsibility Excellence

19 The banks in Switzerland 4 Big banks 24 Cantonal banks 99 Foreign banks 1 Raiffeisen-group with 270 independent cooperative banks 43 Stock exchange banks 62 Regional- & savings banks 6 Private bankers 14 Other banks Source: SNB

20 The financial sector: above average productive and a good tax payer Employment In FTE* Added value in CHF Tax In CHF Banks 136, % Banks 31 bn 4.8% Banks 12 bn 8.4% Insurers 71, % Insurers 29 bn 4.5% Insurers 4.5 bn 3.2% Total 3,849,500 Rest of the economy Total 652 bn Rest of the economy Total bn Rest of the economy *Full time equivalent Source: Polynomics study 2018 «Banks and insurers in Switzerland»

21 Employment in the Swiss financial sector Total 3,849,500 Banks 136, % Insurers 71, % Rest of the economy Source: Polynomics study 2018 «Banks and insurers in Switzerland»

22 Jobs in the Swiss banking sector The banks in Switzerland offer 136,400 Jobs (full time equivalents). This represents 3.5% of all jobs in Switzerland. Source: Polynomics study 2018 «Banks and insurers in Switzerland»

23 Vocational training at Swiss banks Swiss banks offer 3,300 training positions for commercial apprentices. This represents almost 8% of all commercial training positions in Switzerland. Source: Federal Office of Statistics

24 Value creation by the Swiss financial sector Total 652 bn Banks 31 bn 4.8% Insurers 29 bn 4.5% Rest of the economy Source: Polynomics study 2018 «Banks and insurers in Switzerland»

25 Value creation by the Swiss banking sector The Swiss banks value creation amounts to CHF 31 bn a year. This corresponds to 4.8 % of the total value created by the Swiss economy. Source: Polynomics study 2018 «Banks and insurers in Switzerland»

26 Taxes paid by the Swiss financial sector Total bn Banks 12 bn 8.4% Insurers 4.5 bn 3.2% Rest of the economy Source: Polynomics study 2018 «Banks and insurers in Switzerland»

27 Taxes (direct and indirect) emanating from the Swiss financial sector Total bn Direct taxes banks 4.6 bn 3.2% Indirect taxes banks 7.4 bn 5.2% Direct taxes insurers 2.8 bn 2.0% Indirect taxes insurers 1.7 bn 1.2% Rest of the economy Source: Polynomics study 2018 «Banks and insurers in Switzerland»

28 Taxes (direct and indirect) emanating from the Swiss banking sector 8.4% of all taxes paid in Switzerland come from the banking sector. This amounts to more than CHF 12 bn. Source: Polynomics study 2018 «Banks and insurers in Switzerland»

29 What clients think about the banks in Switzerland 85% Satisfaction 95% Trust Quelle: Meinungsumfrage der SBVg 2017

30 Significance of the banks for the Swiss economy Credits to companies in Switzerland (09/2018): CHF 353 bn 87% of the credits go to SMEs, in total CHF 307 bn. 13% of the credits go to big companies. Source: SNB

31 Assets under management The banks in Switzerland manage CHF7,291.8 bn. 48.3% come from foreign clients. Quelle: Bankenbarometer 2018 der SBVg

32 Cross-border wealth management Swiss banks manage around 27.5 % of all assets that are invested cross-border worldwide. That makes Switzerland by far the No. 1 in international wealth management. Quelle: Bankenbarometer 2018 der SBVg

33 The most important cross-boarder financial centres Offshore AUM 2017 (bn USD) Switzerland UAE UK Singapore Channel Islands USA Hong Kong Luxemburg Source: BCG

34 Financial centre s share of GDP Share in in %, , ,5 10 9,0 7,1 7,5 5 3,8 0 Switzerland Germany UK Singapore USA Luxemburg Quelle: SIF

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