Swiss banks' foreign assets fall by about Rs 5 lakh cr
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The foreign assets kept with Swiss banks came down by about Rs 5,00,000 crore last year, amid a global outcry against the alleged practice of providing secret accounts for black money from different countries, including India.
The securities kept by foreign entities in Swiss banks were valued at 2.39 trillion Swiss francs at the end of 2010 (about Rs 12,600,000 crore at the current exchange rates), down from 2.49 trillion Swiss francs (about Rs 13,00,000 crore) a year ago.
These are the latest figures from the Swiss National Bank (SNB).
However, the influential Swiss Bankers Association (SBA) has said that one should be extremely careful before drawing conclusions about value of securities held by foreign entities.
"... the changes are due to not only client behaviour. (PTI)
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