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What kind of banking supervision does Liechtenstein have?
Liechtenstein banks are prudentially supervised by the Liechtenstein Financial Market Authority (FMA), which is integrated in European and international supervisory frameworks. Supervision is risk-based and carried out directly by the Financial Market Authority itself and indirectly by auditors.
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.