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The Banking Law stipulates that banks must have adequate capital resources and adequate
liquidity. Liquidity comprises both the minimum reserves and
other liquid assets, including securities that are easy to
sell. The Banking Law also lays down the licensing conditions and supervision provisions. In order for a bank to be entered in the Commercial Register and to be able to carry on its business, it must have received authorisation from the
Swiss Financial Market Supervisory Authority FINMA. This
institution is responsible for the supervision of the banking system. Lastly, the Banking Law contains the provisions on banking secrecy. Because in the course of their business banks gain insights into the commercial and financial circumstances of their customers, banking secrecy protects the customers' privacy.
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