Bern, Switzerland (GenevaLunch) – A flurry of news came out of Bern Wednesday afternoon, as the Swiss government (Federal Council) held a desk-clearing session. Bank deposits and bank supervision changes were part of the package. Deposits insured to CHF100,000 One decision is to extend by a year the temporary measures taken during the financial crisis, [...]
Bern, Switzerland (GenevaLunch) – Bank deposits in Switzerland up to CHF100,000 will be covered in case the bank gets into trouble, and depositors should be paid within 20 days. The Swiss government proposal foresees a two-tier system: a public guarantee fund with CHF9.75 billion to be funded by the banks in the first tier. Then, [...]
The guarantee for a couple sharing a Swiss bank account is CHF30,000, not CHF60,000.