Major industries - banking and financial services, iron and steel, information technology, telecommunications, cargo transportation, food processing, chemicals, metal products, engineering, tires, glass, aluminium, tourism.
Banks (2010) - 147 banks; 226 branches; 26,255 employees; assets – EUR 769,26 billion; loans – EUR 191,17 billion; deposits – EUR 265,80
Banking regulations - The relevant regulators in the case of banks are the CSSF and, to a lesser degree, the Luxembourg Central Bank (‘the BCL’). The CSSF was created by law on 21 December 1998, which estabilishing it up a public establishment in charge of assuming the prudential supervision of banks and professionals of the financial sector (including investment firms) and also as supervisor of the financial markets in Luxembourg. The CSSF has over the past year somewhat tightened its supervision of professionals in the financial sector and is intent on increasing its focus on quality-oriented supervision, by application of the new CRD framework and in particular the Pillar II principles, while at the same time maintaining the practical and principle-based approach in supervision which has always been the trademark of the Luxembourg regulator.