Introduction
Since the collapse of Credit Suisse, discussions about the Swiss financial centre have mainly taken place internally. Yet foreign banks employ around 16,000 people and, with CHF 4.3 billion, account for roughly one in every eight francs of value added in the financial sector. The first AFBS Foreign Banks Barometer provides an outside perspective for the first time: 61 foreign banks have assessed the location from the perspective of their international banking groups. 79 Swiss companies have evaluated the offering of foreign banks and their services. The verdict is more favourable than the debate since the demise of CS would suggest. The foreign banks also view the Swiss market positively, with the exception of access to the EU single market, which is viewed very negatively. The Association of Foreign Banks in Switzerland (AFBS) is presenting the study today in Zurich, together with BAK Economics, which carried out the research.