How are banks supervised in Liechtenstein?

The Liechtenstein Financial Market Authority (FMA) is not only the competent micro-
and macroprudential supervisory authority for banks and other financial service providers, but also
plays a central role in the Liechtenstein economy in the context of regulation
and as a resolution authority. Since the clients and markets of Liechtenstein banks are mainly
located abroad, international networking is of great importance. Given its very
small domestic market, Liechtenstein’s financial service providers are strongly oriented towards
cross-border business models. 

The FMA is integrated into the European System of Financial Supervisory Authorities (EBA, ESMA, EIOPA) and the European Systemic Risk Board (ESRB). However, as Liechtenstein does not participate in the EURO, the banking centre is not integrated into the European Banking Union.