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PostFinance Top Scorer Ruethemann
PostFinance is the financial services unit of Swiss Post which was founded in 1906. It is the fifth largest retail financial institution in Switzerland. Its main area of activity is in the national and international payments and a smaller but growing part in the areas of savings, pensions and real estate. PostFinance is fully-owned by the Swiss government.Samuel GerberPostfinance: Why the End of the Ban Matters ''Finews.com'', 6 September 2018 History In 2013, the Swiss Financial Market Supervisory Authority (FINMA) awarded PostFinance a bank licence. In 2015, PostFinance was declared a "Systemically important financial institution" in Switzerland by the Swiss National Bank, which means the bank must follow special regulations with regards to liquidity and equity. In 2016, PostFinance started to levy a 1% annual fee on deposits of above 1 million francs. In 2020, PostFinance's profits fell to 131 million Swiss francs (from 246 million in 2019 and 229 million francs in 2018) and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal entities f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Banking
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking services which are regarded as retail include provision of savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers. In the U.S., the term commercial bank is used for a ''normal'' bank to distinguish it from an investment bank. After the Great Depression, the Glass–Steagall Act restricted normal banks to banking activities, and investment banks to capital market activities. That distinction was repealed in the 1990s. Commercial bank can also refer to a bank or a division of a bank that deals mostly with deposits and loans from co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Switzerland
Systemically Important Banks Globally Systemically Important Banks *UBS Group AG *Credit Suisse Group AG Domestically Systemically Important Banks * Zurich Cantonal Bank * Banque cantonale vaudoise * Raiffeisen * PostFinance Top-tier Swiss banks Other Swiss-based banks with a significant presence domestically and overseas with considerable assets under management. *Julius Baer Group *Vontobel *Pictet Group *Lombard Odier * J. Safra Sarasin * Union Bancaire Privee *EFG International Family-owned Swiss banks * Banque Heritage * Bank SYZ * Bordier & Cie * Compagnie Bancaire Helvétique *Edmond de Rothschild Group * Geneva Swiss Bank * Gonet & Cie * E. Gutzwiller & Cie, Banquiers *Habib Bank AG Zurich * Hyposwiss Private Bank Genève SA *Landolt & Cie *Lienhardt & Partner Privatbank Zürich *Reichmuth & Co * REYL Group *Union Bancaire Privée * Rahn+Bodmer Co. *Vontobel Swiss branches of international banks Belgium *AXA Bank Europe, Brüssel, Zweigniederlassung Winterthur * Fort ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard & Poor's
S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is considered the largest of the Big Three credit-rating agencies, which also include Moody's Investors Service and Fitch Ratings. Its head office is located on 55 Water Street in Lower Manhattan, New York City. History The company traces its history back to 1860, with the publication by Henry Varnum Poor of ''History of Railroads and Canals in the United States''. This book compiled comprehensive information about the financial and operational state of U.S. railroad companies. In 1868, Henry Varnum Poor established H.V. and H.W. Poor Co. with his son, Henry William Poor, and published two annually updated hardback guidebooks, ''Poor's Manual of the Railroads of the United States'' and ''Poor's Directory of Railway Officials''. In 1906, Lu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Viktor Vekselberg
Viktor Felixovich Vekselberg (russian: Виктор Феликсович Вексельберг, uk, Віктор Феліксович Вексельберг; born April 14, 1957) is a Ukrainian-born Russian–Israeli-Cyprus oligarch, billionaire, and businessman. He is the owner and president of Renova Group, a Russian conglomerate. According to ''Forbes'', as of November 2021, his fortune is estimated at $9.3 billion, making him the 262nd richest person in the world.''Forbes'': The World's Billionaires - Viktor Vekselberg October 2019 Vekselberg is close to the . In April 2018, the United States imposed sanctions on him and 23 other Russian nationals in rel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swiss National Bank
The Swiss National Bank (SNB; german: Schweizerische Nationalbank; french: Banque nationale suisse; it, Banca nazionale svizzera; rm, Banca naziunala svizra) is the central bank of Switzerland, responsible for the nation's monetary policy and the sole issuer of Swiss franc banknotes. The primary goal of its mandate is to ensure price stability, while taking economic developments into consideration. The SNB is an ''Aktiengesellschaft'' under special regulations and has two head offices, one in Bern and the other in Zurich. History The bank formed as a result of the need for a reduction in the number of commercial banks issuing banknotes, which numbered 53 sometime after 1826. In the 1874 revision of the Federal Constitution it was given the task to oversee laws concerning the issuing of banknotes. In 1891, the Federal Constitution was revised again to entrust the Confederation with sole rights to issue banknotes. The Swiss National Bank was founded under the law of 6 Octob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Systemically Important Financial Institution
A systemically important financial institution (SIFI) is a bank, insurance company, or other financial institution whose failure might trigger a financial crisis. They are colloquially referred to as "too big to fail". As the financial crisis of 2007–2008 unfolded, the international community moved to protect the global financial system through preventing the failure of SIFIs, or, if one does fail, limiting the adverse effects of its failure. In November 2011, the Financial Stability Board (FSB) published a list of global systemically important financial institutions (G-SIFIs). Also in November 2010, the Basel Committee on Banking Supervision (BCBS) introduced new guidance (known as Basel III) that also specifically target SIFIs. The main focus of the Basel III guidance is to increase bank capital requirements and to introduce capital surcharges for G-SIFIs. However, some economists warned in 2012 that the tighter Basel III capital regulation, which is primarily based on risk ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swiss Financial Market Supervisory Authority
The Swiss Financial Market Supervisory Authority (FINMA) is the Swiss government body responsible for financial regulation. This includes the supervision of banks, insurance companies, stock exchanges and securities dealers, as well as other financial intermediaries in Switzerland. The FINMA is an independent institution with its own legal personality based in Bern. It is institutionally, functionally and financially independent from the central federal administration and the Federal Department of Finance and reports directly to the Swiss parliament. The FINMA is called german: Eidgenössische Finanzmarktaufsicht, french: Autorité fédérale de surveillance des marchés financiers, it, Autorità federale di vigilanza sui mercati finanziari. Its main name and its acronym are expressed in English so as to avoid the semblance of favouring any one of Switzerland's linguistic regions. Anne Héritier Lachat was Chairwoman of the Board of Directors from 2011 until 1 January 201 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general."Real estate": Oxford English Dictionary online: Retrieved September 18, 2011 In terms of law, ''real'' is in relation to land property and is different from personal property while ''estate'' means the "interest" a person has in that land property. Real estate is different from personal property, which is not permanently attached to the land, such as vehicles, boats, jewelry, furniture, tools and the rolling stock of a farm. In the United States, the transfer, owning, or acquisition of real estate can be through business corporations, individuals, nonprofit corporations, fiduciaries, or any legal entity as seen within the law of each U.S. state. History of real estate The natural right of a person t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension
A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "retirement plan" and "superannuation" tend to refer to a pension granted upon retirement of the individual. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or trade unions. Called ''retirement plans' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saving
Saving is income not spent, or deferred consumption. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash. Saving also involves reducing expenditures, such as recurring costs. In terms of personal finance, saving generally specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is a lot higher; in economics more broadly, it refers to any income not used for immediate consumption. Saving does not automatically include interest. ''Saving'' differs from ''savings''. The former refers to the act of not consuming one's assets, whereas the latter refers to either multiple opportunities to reduce costs; or one's assets in the form of cash. Saving refers to an activity occurring over time, a flow variable, whereas savings refers to something that exists at any one time, a stock variable. This distinction is often misunderstood, and even professional economists an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment System
A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, instruments, people, rules, procedures, standards, and technologies that make its exchange possible.Biago Bossone and Massimo Cirasino, "The Oversight of the Payment Systems: A Framework for the Development and Governance of Payment Systems in Emerging Economies"The World Bank, July 2001, p.7 A common type of payment system, called an operational network, links bank accounts and provides for monetary exchange using bank deposits. Some payment systems also include credit mechanisms, which are essentially a different aspect of payment. Payment systems are used in lieu of tendering cash in domestic and international transactions. This consists of a major service provided by banks and other financial institutions. Traditional payment systems include negotiable instruments such as drafts (e.g., cheques) and documentary credits such as letters of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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