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Swiss property boom hasn’t led to imprudent lending - Finma

Posted on 27 March 2013

Switzerland’s market supervisory authority Finma said Tuesday it had found no evidence of “any large-scale imprudent” mortgage lending by banks despite the Alpine country’s buoyant property market. The recent price gains in the Swiss real estate market–driven largely by historically low interest rates and the influx of cash-rich migrants–has shored up the country’s economy, but at the same time has spurred demand for residential property, Finma Chief Executive Patrick Raaflaub said at a briefing Tuesday.
“The Swiss mortgage market was, and still is, one of the main issues we have addressed in the recent past, and our stress tests analyze on an on-going basis whether mortgage loans are backed by enough equity,” Mr. Raaflaub said………………………………………..Full Article: Source


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