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Bank Industry Risk Analysis: Robust Swiss Banking System Set To Stand Comparatively Firm Against Economic Turbulence May 09
Standard & Poors, May 2009
Abstract
High prosperity of the country, with one of the highest GDPs per capita in the world Stable, diversified, and open economy with low inflation and low unemployment Long-standing political and regulatory stability Leading international wealth-management franchise Strong risk and financial profiles of locally focused institutions Relatively stable funding sources, thanks mainly to strong customer loyalty Moderate growth prospects of the Swiss economy Major banks' exposure to global financial markets, in our view, pose systemic risk, despite strong regulatory capital ratios Wealth-management business sensitive to reputation issues amid increasing competition from other off-shore financial centers Persistent margin pressure from intense domestic competition Standard & Poor's Ratings Services considers the banking system of the Swiss Confederation (AAA/Stable/A-1+) to be among the strongest...
Companies mentioned in this report are: Swiss Confederation (Unsolicited Ratings),Credit Suisse AG,Credit Suisse Group AG,Zuercher Kantonalbank,HSBC Private Bank (Suisse) S.A.,UBS AG,Aargauische Kantonalbank,Banque Cantonale Vaudoise,HSBC Private Banking Holdings (Suisse) S.A.,Schwyzer Kantonalbank,Migros Bank,Basler Kantonalbank,Basellandschaftliche Kantonalbank,Graubuendner Kantonalbank,Luzerner Kantonalbank,Banque Jacob Safra (Suisse) S.A.,Bank Vontobel AG
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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