Monaco - Banking and securities

Foreign currency circulates within Monaco under the supervision of the French government. The most important local bank is Crédit Foncier de Monaco, founded in 1922. As of 1994, there were 45 banks operating in Monaco. In 1999, an Monaco's banking industry had approximately 310,000 accounts and employed 1,700 people. The vast majority of customers were nonresidents. Total assets in 1998 was estimated at a little over $44 billion.

There is no securities exchange.