The Baltic states break away from the Soviet Union. Reunification of Germany.
Iraqi troops invade Kuwait.
In Switzerland's Penal Code the new paragraph on money laundering enters into force. In December the US Dollar hits a low of 1.255 Swiss Francs . The strong Swiss Franc hurts the Swiss export industry. The SBC organization in New York moves to the newly constructed Swiss Bank Tower . SBC acquires the Bank in Burgdorf , Burgdorf, in which it had a minority holding since 1969.