Since 1972, foreign-owned banks and other financial institutions domiciled in Switzerland have been organised in the Association of Foreign Banks in Switzerland AFBS. The Association represents its members vis-à-vis the Federal Administration, the Swiss Bankers' Association and other stakeholders of the financial centre. It informs its members on regulatory developments in financial market matters and fosters discussion among members. The Association currently has 104 members and is thus the largest association in the banking sector, after the Swiss Bankers' Association. In 2022, the Association will be celebrating its 50th anniversary.