Liechtenstein has a GDP of US$5.2 billion, of which 40 percent comes from industry and 30 percent from financial services. Currently, 15 banks operate in Liechtenstein (one additional bank is in the process of being wound down without loss to the depositors). The market is highly concentrated with the three largest banks accounting for 90 percent of the total banking balance sheet size; 86 percent of assets under management; 89 percent of operating profits before tax, and 63 percent of employment in the banking sector.
This report summarizes the assessment of Liechtenstein's compliance with internationally accepted standards for the regulatory and supervisory arrangements of the financial sector. It provides detailed assessments of Liechtenstein’s implementation of international supervisory and regulatory standards relative to the Basel Core Principles (BCP) for effective banking supervision, International Association of Insurance Supervisors (IAIS) core principles for insurance Supervision, the International Organization of Securities Commissions (IOSCO) Objectives and Principles of Securities Regulation, and Financial Action Task Force Recommendations for antimoney laundering and combating the financing of terrorism.