The Impact of the OECD Standard on the Swiss Banking Industry Dissertation

The Impact of the OECD Standard on the Swiss Banking Industry - Dissertation Example The developments were of strong influence in the actual economy and as the year 2008 came to an end the whole economy had gone through the ensuing crisis (Gugler & Siebert, 2007). Despite the fact that, the Banking industry was one of the most regulated industries within the country, the ongoing financial crisis could not be curbed. More often than not, the financial crisis uncovered different imperfections in international regulation. Before this crisis, the whole banking system had been assumed to be secured for as long as each unique bank satisfied the requirements in terms of capital reserves (Brissimis & Papanikolaou, 2008). This enabled it to absorb the upcoming negative economical developments. In many cases, one theory explains that it is sufficient in supervising the banks at a micro-level, and this supervision would prevent a crisis within the entire banking system namely at the macro level. This theory holds in a non-globalized or less globalized world (Brissimis & Papanikolaou, 2008).