Cantonal banks are public companies or banks organized in Switzerland, where the owners - either totally orpartially as majority carriers - the respective canton. The story begins in the 19th of the Cantonal Century. The individual cantonal banks are independent and operate primarily in the utility room of their home canton.Together they account for around 30% of the domestic banking business in Switzerland. The companies employ around 19,000 employees. The Federal Constitution gives the federal government the authority toestablish regulations on banks. The legislator is obliged to wear the special role and position of the cantonal banks. What distinguishes a Kantonalbank as such and which it is subject to special rules, is set to laws andordinances. The Federal Law on Banks and Savings Banks are two essential characteristics:
The legal basis of a cantonal bank must be held in cantonal law.
The participation of the Canton must lie in more than one third of capital and votes.
Cantonal banks differ in their legal and organizational design, its operation or size of their business policyfocuses partly strong. Because of the legal and organizational form, the ownership or sponsorship, and the Powers and scope of business of each of the respective canton decides Kantonalbank as their owners because of its specific objectives. Of the 24 cantonal banks 21 have the full government guarantee.
The legal basis of a cantonal bank must be held in cantonal law.
The participation of the Canton must lie in more than one third of capital and votes.
Cantonal banks differ in their legal and organizational design, its operation or size of their business policyfocuses partly strong. Because of the legal and organizational form, the ownership or sponsorship, and the Powers and scope of business of each of the respective canton decides Kantonalbank as their owners because of its specific objectives. Of the 24 cantonal banks 21 have the full government guarantee.
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