Deposit insurance in Switzerland is a system designed to protect bank customers' deposits in the event of a bank's insolvency. Here are the key points regarding deposit insurance in Switzerland:
- Legal Basis: Deposit insurance is governed by the Banking Act (BankG) and the Banking Ordinance (BankV).
- Insured Deposits: Deposits are insured up to 100,000 Swiss francs per customer and per bank.
- Insurance System: Deposit insurance is provided by the "esisuisse" system, a self-regulatory organization of the banks.
- Funding: Banks in Switzerland are required to provide funds for deposit insurance. These funds are used in the event of a bank insolvency to pay out the insured deposits.
- Procedure in Case of Insolvency: If a bank becomes insolvent, esisuisse ensures that the insured deposits are paid out as soon as possible.
In summary:
- Deposit Insurance: Protection of deposits up to 100,000 CHF per customer and per bank
- System: esisuisse
- Objective: Protection of bank customers and enhancement of confidence in the banking system
Deposit insurance significantly contributes to the stability of the financial system and protects savers from losing their deposits in the event of a banking crisis. Further information can be found here.