Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2020 | |
Entity Information [Line Items] | |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2020 |
Entity Registrant Name | Credit Suisse Group AG |
Entity Central Index Key | 0001159510 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q2 |
Bank | |
Entity Information [Line Items] | |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2020 |
Entity Registrant Name | Credit Suisse AG |
Entity Central Index Key | 0001053092 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q2 |
Consolidated statements of oper
Consolidated statements of operations - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Interest and dividend income | SFr 3,589 | SFr 4,295 | SFr 5,653 | SFr 7,884 | SFr 10,471 |
Interest expense | (2,019) | (2,761) | (3,652) | (4,780) | (6,938) |
Net interest income | 1,570 | 1,534 | 2,001 | 3,104 | 3,533 |
Commissions and fees | 2,880 | 2,927 | 2,927 | 5,807 | 5,539 |
Trading revenues | 1,254 | 927 | 182 | 2,181 | 1,022 |
Other revenues | 490 | 388 | 471 | 878 | 874 |
Net revenues | 6,194 | 5,776 | 5,581 | 11,970 | 10,968 |
Provision for credit losses | 296 | 568 | 25 | 864 | 106 |
Compensation and benefits | 2,594 | 2,316 | 2,545 | 4,910 | 5,063 |
General and administrative expenses | 1,440 | 1,346 | 1,395 | 2,786 | 2,808 |
Commission expenses | 313 | 345 | 314 | 658 | 627 |
Total other operating expenses | 1,753 | 1,691 | 1,709 | 3,444 | 3,435 |
Total operating expenses | 4,347 | 4,007 | 4,254 | 8,354 | 8,498 |
Income/(loss) before taxes | 1,551 | 1,201 | 1,302 | 2,752 | 2,364 |
Income tax expense/(benefit) | 391 | (110) | 365 | 281 | 678 |
Net income/(loss) | 1,160 | 1,311 | 937 | 2,471 | 1,686 |
Net income/(loss) attributable to noncontrolling interests | (2) | (3) | 0 | (5) | 0 |
Net income/(loss) attributable to shareholders | SFr 1,162 | SFr 1,314 | SFr 937 | SFr 2,476 | SFr 1,686 |
Basic earnings per share (CHF) | |||||
Basic earnings/(loss) per share (in CHF per share) | SFr 0.47 | SFr 0.53 | SFr 0.37 | SFr 1 | SFr 0.66 |
Diluted earnings per share (CHF) | |||||
Diluted earnings/(loss) per share (in CHF per share) | SFr 0.46 | SFr 0.52 | SFr 0.36 | SFr 0.98 | SFr 0.65 |
Bank | |||||
Interest and dividend income | SFr 3,585 | SFr 5,655 | SFr 7,867 | SFr 10,476 | |
Interest expense | (2,017) | (3,648) | (4,763) | (6,921) | |
Net interest income | 1,568 | 2,007 | 3,104 | 3,555 | |
Commissions and fees | 2,896 | 2,904 | 5,816 | 5,483 | |
Trading revenues | 1,227 | 231 | 2,105 | 1,087 | |
Other revenues | 539 | 534 | 990 | 986 | |
Net revenues | 6,230 | 5,676 | 12,015 | 11,111 | |
Provision for credit losses | 292 | 25 | 860 | 106 | |
Compensation and benefits | 2,363 | 2,305 | 4,420 | 4,609 | |
General and administrative expenses | 1,773 | 1,763 | 3,495 | 3,508 | |
Commission expenses | 313 | 313 | 658 | 627 | |
Total other operating expenses | 2,086 | 2,076 | 4,153 | 4,135 | |
Total operating expenses | 4,449 | 4,381 | 8,573 | 8,744 | |
Income/(loss) before taxes | 1,489 | 1,270 | 2,582 | 2,261 | |
Income tax expense/(benefit) | 370 | 339 | 244 | 701 | |
Net income/(loss) | 1,119 | 931 | 2,338 | 1,560 | |
Net income/(loss) attributable to noncontrolling interests | (2) | 4 | 4 | 7 | |
Net income/(loss) attributable to shareholders | SFr 1,121 | SFr 927 | SFr 2,334 | SFr 1,553 |
Consolidated statements of comp
Consolidated statements of comprehensive income - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Comprehensive income | |||||
Net income/(loss) | SFr 1,160 | SFr 1,311 | SFr 937 | SFr 2,471 | SFr 1,686 |
Gains/(losses) on cash flow hedges | 18 | 225 | 43 | 243 | 89 |
Foreign currency translation | (433) | (596) | (592) | (1,029) | (393) |
Unrealized gains/(losses) on securities | (18) | (2) | 12 | (20) | 26 |
Actuarial gains/(losses) | 73 | 73 | 386 | 146 | 446 |
Net prior service cost | (34) | (34) | 306 | (68) | 282 |
Gains/(losses) on liabilities related to credit risk | (2,658) | 4,350 | (231) | 1,692 | (1,352) |
Other comprehensive income/(loss), net of tax | (3,052) | 4,016 | (76) | 964 | (902) |
Comprehensive income/(loss) | (1,892) | 5,327 | 861 | 3,435 | 784 |
Comprehensive income/(loss) attributable to noncontrolling interests | (2) | (4) | (3) | (6) | (1) |
Comprehensive income/(loss) attributable to shareholders | (1,890) | SFr 5,331 | 864 | 3,441 | 785 |
Bank | |||||
Comprehensive income | |||||
Net income/(loss) | 1,119 | 931 | 2,338 | 1,560 | |
Gains/(losses) on cash flow hedges | 17 | 45 | 243 | 93 | |
Foreign currency translation | (423) | (578) | (1,011) | (391) | |
Unrealized gains/(losses) on securities | (18) | 12 | (20) | 27 | |
Actuarial gains/(losses) | 5 | 4 | 7 | 8 | |
Net prior service cost | (1) | 0 | 0 | 0 | |
Gains/(losses) on liabilities related to credit risk | (2,575) | (216) | 1,614 | (1,238) | |
Other comprehensive income/(loss), net of tax | (2,995) | (733) | 833 | (1,501) | |
Comprehensive income/(loss) | (1,876) | 198 | 3,171 | 59 | |
Comprehensive income/(loss) attributable to noncontrolling interests | (10) | (10) | (9) | 0 | |
Comprehensive income/(loss) attributable to shareholders | SFr (1,866) | SFr 208 | SFr 3,180 | SFr 59 |
Consolidated balance sheets
Consolidated balance sheets - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | ||||
Assets | |||||||
Cash and due from banks | SFr 132,070 | [1] | SFr 119,172 | SFr 101,879 | [1] | ||
of which reported at fair value | 368 | 367 | 356 | ||||
Interest-bearing deposits with banks | 1,185 | 912 | 741 | ||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,890 | 107,876 | 106,997 | ||||
of which reported at fair value | 78,448 | 88,511 | 85,556 | ||||
Securities received as collateral, at fair value | 42,479 | 28,655 | 40,219 | ||||
of which encumbered | 24,902 | 18,207 | 22,521 | ||||
Trading assets, at fair value | 156,730 | 150,798 | 153,797 | ||||
of which encumbered | 41,367 | 38,754 | 46,650 | ||||
Total investment securities | 584 | 1,164 | 1,006 | ||||
of which reported at fair value | 489 | 1,068 | 1,006 | ||||
of which encumbered | 95 | 96 | 0 | ||||
Other investments | 5,848 | 5,858 | 5,666 | ||||
of which reported at fair value | 3,733 | 3,791 | 3,550 | ||||
Net loans | 294,312 | 302,674 | 296,779 | ||||
of which reported at fair value | 13,231 | 14,273 | 12,662 | ||||
of which encumbered | 167 | 202 | 293 | ||||
Allowance for credit losses | (1,669) | (1,431) | (1,049) | ||||
Allowance for loan losses | (946) | ||||||
Goodwill | 4,676 | 4,604 | 4,663 | ||||
Other intangible assets | 273 | 279 | 291 | ||||
of which reported at fair value | 209 | 220 | 244 | ||||
Brokerage receivables | 44,287 | 62,893 | 35,648 | ||||
Other assets | 41,146 | 47,281 | 39,609 | ||||
of which reported at fair value | 9,321 | 11,955 | 10,402 | ||||
of which encumbered | 166 | 129 | 217 | ||||
of which loans held-for-sale reported at lower of cost and market value (amortized cost base) | 690 | 531 | |||||
allowance for loans held-for-sale | (8) | (7) | |||||
Total assets | 828,480 | 832,166 | 787,295 | ||||
Liabilities and equity | |||||||
Due to banks | 18,018 | 25,394 | 16,744 | ||||
of which reported at fair value | 484 | 430 | 322 | ||||
Customer deposits | 388,995 | 389,905 | 383,783 | ||||
of which reported at fair value | 3,603 | 3,572 | 3,339 | ||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 30,589 | 45,451 | 27,533 | ||||
of which reported at fair value | 17,379 | 24,271 | 10,715 | ||||
Obligation to return securities received as collateral, at fair value | 42,479 | 28,655 | 40,219 | ||||
Trading liabilities, at fair value | 44,040 | 44,877 | 38,186 | ||||
Short-term borrowings | 27,386 | 27,929 | 28,385 | ||||
of which reported at fair value | 12,079 | 10,084 | 11,333 | ||||
Long-term debt | 169,426 | 144,923 | 152,005 | ||||
of which reported at fair value | 68,798 | 60,360 | 70,331 | ||||
Brokerage payables | 31,909 | 44,171 | 25,683 | ||||
Other liabilities | 28,787 | 32,088 | 31,043 | ||||
of which reported at fair value | 7,384 | 7,547 | 7,891 | ||||
Total liabilities | 781,629 | 783,393 | 743,581 | ||||
Common shares | 102 | 102 | 102 | ||||
Additional paid-in capital | 34,320 | 34,891 | 34,661 | ||||
Retained earnings | 32,808 | 31,816 | 30,634 | ||||
Treasury shares, at cost | (1,391) | (1,882) | (1,484) | ||||
Accumulated other comprehensive income/(loss) | (19,304) | (16,252) | (20,269) | ||||
Total shareholders' equity | 46,535 | 48,675 | 43,644 | ||||
Noncontrolling interests | 316 | 98 | 70 | ||||
Total equity | 46,851 | 48,773 | 43,714 | ||||
Total liabilities and equity | SFr 828,480 | SFr 832,166 | SFr 787,295 | ||||
Additional share information | |||||||
Par value (in CHF per share) | SFr 0.04 | SFr 0.04 | SFr 0.04 | ||||
Authorized shares (in shares) | [2] | 3,209,011,720 | 3,209,011,720 | 3,209,011,720 | |||
Issued shares (in shares) | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | ||||
Treasury shares (in shares) | 114,411,959 | 156,996,084 | 119,761,811 | ||||
Common shares outstanding (in shares) | 2,441,599,761 | [3] | 2,399,015,636 | [3] | 2,436,249,909 | ||
Consolidated VIEs | |||||||
Assets | |||||||
Cash and due from banks | SFr 96 | SFr 205 | SFr 138 | ||||
Trading assets, at fair value | 2,423 | 2,777 | 2,788 | ||||
Other investments | 1,471 | 1,435 | 1,412 | ||||
Net loans | 843 | 720 | 649 | ||||
Other assets | 2,016 | 2,083 | 1,694 | ||||
Total assets | 6,849 | 6,681 | |||||
Liabilities and equity | |||||||
Trading liabilities, at fair value | 11 | 6 | 8 | ||||
Short-term borrowings | 4,515 | 5,630 | 4,885 | ||||
Long-term debt | 1,803 | 1,878 | 1,671 | ||||
Other liabilities | 251 | SFr 295 | 297 | ||||
Total liabilities | 6,580 | 6,861 | |||||
Bank | |||||||
Assets | |||||||
Cash and due from banks | [4] | 131,292 | 101,044 | ||||
of which reported at fair value | 368 | 356 | |||||
Interest-bearing deposits with banks | 1,176 | 673 | |||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,890 | 106,997 | |||||
of which reported at fair value | 78,448 | 85,556 | |||||
Securities received as collateral, at fair value | 42,479 | 40,219 | |||||
of which encumbered | 24,902 | 22,521 | |||||
Trading assets, at fair value | 156,877 | 153,895 | |||||
of which encumbered | 41,367 | 46,650 | |||||
Total investment securities | 582 | 1,004 | |||||
of which reported at fair value | 487 | 1,004 | |||||
of which encumbered | 95 | 0 | |||||
Other investments | 5,814 | 5,634 | |||||
of which reported at fair value | 3,731 | 3,548 | |||||
Net loans | 301,927 | 304,025 | |||||
of which reported at fair value | 13,231 | 12,661 | |||||
of which encumbered | 167 | 293 | |||||
Allowance for credit losses | (1,668) | (1,048) | |||||
Allowance for loan losses | (945) | ||||||
Goodwill | 3,979 | 3,960 | |||||
Other intangible assets | 273 | 291 | |||||
of which reported at fair value | 209 | 244 | |||||
Brokerage receivables | 44,289 | 35,648 | |||||
Other assets | 37,911 | 37,069 | |||||
of which reported at fair value | 9,321 | 10,402 | |||||
of which encumbered | 166 | 217 | |||||
of which loans held-for-sale reported at lower of cost and market value (amortized cost base) | 690 | ||||||
allowance for loans held-for-sale | (8) | ||||||
Total assets | 831,489 | 790,459 | |||||
Liabilities and equity | |||||||
Due to banks | 18,018 | 16,742 | |||||
of which reported at fair value | 484 | 322 | |||||
Customer deposits | 390,093 | 384,950 | |||||
of which reported at fair value | 3,603 | 3,339 | |||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 30,683 | 27,641 | |||||
of which reported at fair value | 17,473 | 10,823 | |||||
Obligation to return securities received as collateral, at fair value | 42,479 | 40,219 | |||||
Trading liabilities, at fair value | 44,040 | 38,186 | |||||
Short-term borrowings | 27,861 | 28,869 | |||||
of which reported at fair value | 12,079 | 11,333 | |||||
Long-term debt | 168,554 | 151,000 | |||||
of which reported at fair value | 67,959 | 69,406 | |||||
Brokerage payables | 31,911 | 25,683 | |||||
Other liabilities | 27,810 | 30,406 | |||||
of which reported at fair value | 7,365 | 7,869 | |||||
Total liabilities | 781,449 | 743,696 | |||||
Common shares | 4,400 | 4,400 | |||||
Additional paid-in capital | 45,760 | 45,774 | |||||
Retained earnings | 15,694 | 13,492 | |||||
Accumulated other comprehensive income/(loss) | (16,700) | (17,546) | |||||
Total shareholders' equity | 49,154 | 46,120 | |||||
Noncontrolling interests | 886 | 643 | |||||
Total equity | 50,040 | 46,763 | |||||
Total liabilities and equity | SFr 831,489 | SFr 790,459 | |||||
Additional share information | |||||||
Par value (in CHF per share) | [5] | SFr 1 | SFr 1 | ||||
Issued shares (in shares) | [5] | 4,399,680,200 | 4,399,680,200 | ||||
Common shares outstanding (in shares) | [5] | 4,399,680,200 | 4,399,680,200 | ||||
Bank | Consolidated VIEs | |||||||
Assets | |||||||
Cash and due from banks | SFr 96 | SFr 138 | |||||
Trading assets, at fair value | 2,423 | 2,788 | |||||
Other investments | 1,471 | 1,412 | |||||
Net loans | 843 | 649 | |||||
Other assets | 1,997 | 1,674 | |||||
Total assets | 6,830 | 6,661 | |||||
Liabilities and equity | |||||||
Trading liabilities, at fair value | 11 | 8 | |||||
Short-term borrowings | 4,515 | 4,885 | |||||
Long-term debt | 1,803 | 1,671 | |||||
Other liabilities | 251 | 296 | |||||
Total liabilities | SFr 6,580 | SFr 6,860 | |||||
[1] | Includes restricted cash. | ||||||
[2] | Includes issued shares and unissued shares (conditional, conversion and authorized capital). | ||||||
[3] | At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,193,477 of these shares were reserved for capital instruments. | ||||||
[4] | Includes restricted cash. | ||||||
[5] | The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2020. Each share is entitled to one vote. The Bank has no warrants on its own shares outstanding. |
Consolidated statements of chan
Consolidated statements of changes in equity - CHF (SFr) SFr in Millions | Total | Cumulative Effect, Period of Adoption, Adjustment [Member] | Total shareholders' equity | Total shareholders' equityCumulative Effect, Period of Adoption, Adjustment [Member] | Common shares | Additional paid-in capital | Retained earnings | Retained earningsCumulative Effect, Period of Adoption, Adjustment [Member] | Treasury shares, at cost | Accumulated other comprehensive income | Accumulated other comprehensive incomeCumulative Effect, Period of Adoption, Adjustment [Member] | Noncontrolling interests | Bank | BankCumulative Effect, Period of Adoption, Adjustment [Member] | BankTotal shareholders' equity | BankTotal shareholders' equityCumulative Effect, Period of Adoption, Adjustment [Member] | BankCommon shares | BankAdditional paid-in capital | BankRetained earnings | BankRetained earningsCumulative Effect, Period of Adoption, Adjustment [Member] | BankTreasury shares, at cost | BankAccumulated other comprehensive income | BankAccumulated other comprehensive incomeCumulative Effect, Period of Adoption, Adjustment [Member] | BankNoncontrolling interests | ||||||
Balance at Dec. 31, 2018 | SFr 44,019 | SFr 178 | SFr 43,922 | SFr 178 | SFr 102 | SFr 34,889 | SFr 26,973 | SFr 242 | SFr (61) | SFr (17,981) | SFr (64) | SFr 97 | SFr 45,994 | SFr 178 | SFr 45,296 | SFr 178 | SFr 4,400 | SFr 45,557 | SFr 10,179 | SFr 242 | SFr 0 | SFr (14,840) | SFr (64) | SFr 698 | ||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (18) | (18) | (18) | (18) | ||||||||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 18 | 18 | 12 | 12 | ||||||||||||||||||||||||||
Net income/(loss) | 1,686 | 1,686 | 1,686 | 1,560 | 1,553 | 1,553 | 7 | |||||||||||||||||||||||
Total other comprehensive income/(loss), net of tax | (902) | (901) | (901) | (1) | (1,501) | (1,494) | (1,494) | (7) | ||||||||||||||||||||||
Sale of treasury shares | 4,720 | 4,720 | 3 | 4,717 | ||||||||||||||||||||||||||
Repurchase of treasury shares | (5,718) | (5,718) | (5,718) | |||||||||||||||||||||||||||
Share-based compensation, net of tax | 360 | 360 | (99) | 459 | (167) | (167) | (167) | |||||||||||||||||||||||
Financial instruments indexed to own shares | 121 | 121 | 121 | |||||||||||||||||||||||||||
Dividends on share-based compensation, net of tax | (32) | (32) | (32) | |||||||||||||||||||||||||||
Dividends paid | (696) | (695) | (11) | (10) | (10) | |||||||||||||||||||||||||
Dividends paid out of reserves from capital contributions | (695) | |||||||||||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (1) | (1) | ||||||||||||||||||||||||||||
Change in scope of consolidation, net | 160 | 160 | 160 | 160 | ||||||||||||||||||||||||||
Other | (1) | (2) | (2) | 1 | ||||||||||||||||||||||||||
Balance at Jun. 30, 2019 | 43,928 | 43,673 | 102 | 34,219 | 28,901 | (603) | (18,946) | 255 | 46,174 | 45,322 | 4,400 | 45,356 | 11,964 | 0 | (16,398) | 852 | ||||||||||||||
Balance at Mar. 31, 2019 | 43,931 | 43,825 | 102 | 35,212 | 27,964 | (580) | (18,873) | 106 | ||||||||||||||||||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (15) | (15) | ||||||||||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 7 | 7 | ||||||||||||||||||||||||||||
Net income/(loss) | 937 | 937 | 937 | |||||||||||||||||||||||||||
Total other comprehensive income/(loss), net of tax | (76) | (73) | (73) | (3) | (733) | |||||||||||||||||||||||||
Sale of treasury shares | 1,886 | 1,886 | (4) | 1,890 | ||||||||||||||||||||||||||
Repurchase of treasury shares | (2,351) | (2,351) | (2,351) | |||||||||||||||||||||||||||
Share-based compensation, net of tax | 86 | 86 | (352) | 438 | ||||||||||||||||||||||||||
Financial instruments indexed to own shares | 58 | 58 | 58 | |||||||||||||||||||||||||||
Dividends paid | (695) | (695) | ||||||||||||||||||||||||||||
Dividends paid out of reserves from capital contributions | (695) | |||||||||||||||||||||||||||||
Change in scope of consolidation, net | 160 | 160 | ||||||||||||||||||||||||||||
Balance at Jun. 30, 2019 | 43,928 | 43,673 | 102 | 34,219 | 28,901 | (603) | (18,946) | 255 | 46,174 | 45,322 | 4,400 | 45,356 | 11,964 | 0 | (16,398) | 852 | ||||||||||||||
Balance at Dec. 31, 2019 | 43,714 | (132) | 43,644 | (132) | 102 | 34,661 | 30,634 | (132) | (1,484) | (20,269) | 70 | 46,763 | (132) | 46,120 | (132) | 4,400 | 45,774 | 13,492 | (132) | 0 | [1] | (17,546) | 643 | |||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (4) | (4) | ||||||||||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 2 | 2 | ||||||||||||||||||||||||||||
Net income/(loss) | 1,311 | 1,314 | 1,314 | (3) | ||||||||||||||||||||||||||
Total other comprehensive income/(loss), net of tax | 4,016 | 4,017 | 4,017 | (1) | ||||||||||||||||||||||||||
Sale of treasury shares | 2,491 | 2,491 | (36) | 2,527 | ||||||||||||||||||||||||||
Repurchase of treasury shares | (2,966) | (2,966) | (2,966) | |||||||||||||||||||||||||||
Share-based compensation, net of tax | 292 | 292 | 251 | 41 | ||||||||||||||||||||||||||
Change in scope of consolidation, net | 34 | 34 | ||||||||||||||||||||||||||||
Other | 15 | 15 | 15 | |||||||||||||||||||||||||||
Balance at Mar. 31, 2020 | 48,773 | 48,675 | 102 | 34,891 | 31,816 | (1,882) | (16,252) | 98 | ||||||||||||||||||||||
Balance at Dec. 31, 2019 | 43,714 | SFr (132) | 43,644 | SFr (132) | 102 | 34,661 | 30,634 | SFr (132) | (1,484) | (20,269) | 70 | 46,763 | SFr (132) | 46,120 | SFr (132) | 4,400 | 45,774 | 13,492 | SFr (132) | 0 | [1] | (17,546) | 643 | |||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (8) | [2],[3] | (8) | [2],[3] | (8) | [4],[5] | (8) | [4],[5] | ||||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 5 | [3] | 5 | [3] | 5 | [5] | 5 | [5] | ||||||||||||||||||||||
Net income/(loss) | 2,471 | 2,476 | 2,476 | (5) | 2,338 | 2,334 | 2,334 | 4 | ||||||||||||||||||||||
Total other comprehensive income/(loss), net of tax | 964 | 965 | 965 | (1) | 833 | 846 | 846 | (13) | ||||||||||||||||||||||
Sale of treasury shares | 4,003 | 4,003 | (33) | 4,036 | ||||||||||||||||||||||||||
Repurchase of treasury shares | (4,499) | (4,499) | (4,499) | |||||||||||||||||||||||||||
Share-based compensation, net of tax | 421 | 421 | (135) | 556 | (1) | (1) | (1) | |||||||||||||||||||||||
Dividends on share-based compensation, net of tax | (18) | (18) | (18) | |||||||||||||||||||||||||||
Dividends paid | (358) | (358) | (170) | (10) | (10) | (10) | ||||||||||||||||||||||||
Dividends paid out of reserves from capital contributions | [6] | (188) | ||||||||||||||||||||||||||||
Change in scope of consolidation, net | 249 | 249 | 249 | 249 | ||||||||||||||||||||||||||
Other | 21 | 15 | 15 | 6 | 21 | 15 | 15 | 6 | ||||||||||||||||||||||
Balance at Jun. 30, 2020 | 46,851 | 46,535 | 102 | 34,320 | 32,808 | (1,391) | (19,304) | 316 | 50,040 | 49,154 | 4,400 | 45,760 | 15,694 | 0 | [1] | (16,700) | 886 | |||||||||||||
Balance at Mar. 31, 2020 | 48,773 | 48,675 | 102 | 34,891 | 31,816 | (1,882) | (16,252) | 98 | ||||||||||||||||||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | [7],[8] | (4) | (4) | |||||||||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | [8] | 3 | 3 | |||||||||||||||||||||||||||
Net income/(loss) | 1,160 | 1,162 | 1,162 | (2) | ||||||||||||||||||||||||||
Total other comprehensive income/(loss), net of tax | (3,052) | (3,052) | (3,052) | (2,995) | ||||||||||||||||||||||||||
Sale of treasury shares | 1,512 | 1,512 | 3 | 1,509 | ||||||||||||||||||||||||||
Repurchase of treasury shares | (1,533) | (1,533) | (1,533) | |||||||||||||||||||||||||||
Share-based compensation, net of tax | 129 | 129 | (386) | 515 | ||||||||||||||||||||||||||
Dividends paid | (358) | (358) | (170) | |||||||||||||||||||||||||||
Dividends paid out of reserves from capital contributions | [9] | (188) | ||||||||||||||||||||||||||||
Change in scope of consolidation, net | 215 | 215 | ||||||||||||||||||||||||||||
Other | 6 | 6 | ||||||||||||||||||||||||||||
Balance at Jun. 30, 2020 | SFr 46,851 | SFr 46,535 | SFr 102 | SFr 34,320 | SFr 32,808 | SFr (1,391) | SFr (19,304) | SFr 316 | SFr 50,040 | SFr 49,154 | SFr 4,400 | SFr 45,760 | SFr 15,694 | SFr 0 | [1] | SFr (16,700) | SFr 886 | |||||||||||||
[1] | Reflects Credit Suisse Group shares which are reported as treasury shares. Those shares are held to economically hedge share award obligations. | |||||||||||||||||||||||||||||
[2] | Distributions to owners in funds include the return of original capital invested and any related dividends. | |||||||||||||||||||||||||||||
[3] | Transactions with and without ownership changes related to fund activity are all displayed under "not changing ownership". | |||||||||||||||||||||||||||||
[4] | Distributions to owners in funds include the return of original capital invested and any related dividends. | |||||||||||||||||||||||||||||
[5] | Transactions with and without ownership changes related to fund activity are all displayed under "not changing ownership". | |||||||||||||||||||||||||||||
[6] | Paid out of capital contribution reserves. | |||||||||||||||||||||||||||||
[7] | Distributions to owners in funds include the return of original capital invested and any related dividends. | |||||||||||||||||||||||||||||
[8] | Transactions with and without ownership changes related to fund activity are all displayed under "not changing ownership". | |||||||||||||||||||||||||||||
[9] | Paid out of reserves from capital contributions. |
Consolidated statements of cash
Consolidated statements of cash flows - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | ||
Operating activities of continuing operations | |||
Net income/(loss) | SFr 2,471 | SFr 1,686 | |
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities of continuing operations | |||
Impairment, depreciation and amortization | 660 | 646 | |
Provision for credit losses | 864 | 106 | |
Deferred tax provision/(benefit) | 134 | 212 | |
Valuation adjustments related to long-term debt | 266 | 7,595 | |
Share of net income/(loss) from equity method investments | (42) | (51) | |
Trading assets and liabilities, net | 458 | (11,784) | |
(Increase)/decrease in other assets | (12,759) | (2,535) | |
Increase/(decrease) in other liabilities | 5,355 | 1,411 | |
Other, net | 38 | (746) | |
Total adjustments | (5,026) | (5,146) | |
Net cash provided by/(used in) operating activities | (2,555) | (3,460) | |
Investing activities of continuing operations | |||
(Increase)/decrease in interest-bearing deposits with banks | (411) | 236 | |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (899) | 2,920 | |
Purchase of investment securities | (259) | (307) | |
Proceeds from sale of investment securities | 626 | 4 | |
Maturities of investment securities | 51 | 394 | |
Investments in subsidiaries and other investments | (71) | (147) | |
Proceeds from sale of other investments | 413 | 592 | |
(Increase)/decrease in loans | (2,623) | (9,867) | |
Proceeds from sale of loans | 2,319 | 2,460 | |
Capital expenditures for premises and equipment and other intangible assets | (553) | (554) | |
Proceeds from sale of premises and equipment and other intangible assets | 23 | 29 | |
Other, net | 88 | 222 | |
Net cash provided by/(used in) investing activities | (1,296) | (4,018) | |
Financing activities of continuing operations | |||
Increase/(decrease) in due to banks and customer deposits | 9,657 | 4,997 | |
Increase/(decrease) in short-term borrowings | (152) | 3,844 | |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 3,718 | (4,967) | |
Issuances of long-term debt | 41,339 | 14,637 | |
Repayments of long-term debt | (19,814) | (18,604) | |
Sale of treasury shares | 4,003 | 4,720 | |
Repurchase of treasury shares | (4,499) | (5,718) | |
Dividends paid/capital repayments | (358) | (696) | |
Other, net | 991 | 1,854 | |
Net cash provided by/(used in) financing activities | 34,885 | 67 | |
Effect of exchange rate changes on cash and due from banks | |||
Effect of exchange rate changes on cash and due from banks | (843) | (147) | |
Net increase/(decrease) in cash and due from banks | |||
Net increase/(decrease) in cash and due from banks | 30,191 | (7,558) | |
Cash and due from banks at beginning of period | [1] | 101,879 | 100,047 |
Cash and due from banks at end of period | [1] | 132,070 | 92,489 |
Cash paid for income taxes and interest | |||
Cash paid for income taxes | 464 | 418 | |
Cash paid for interest | 5,066 | 6,759 | |
Bank | |||
Operating activities of continuing operations | |||
Net income/(loss) | 2,338 | 1,560 | |
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities of continuing operations | |||
Impairment, depreciation and amortization | 580 | 574 | |
Provision for credit losses | 860 | 106 | |
Deferred tax provision/(benefit) | 110 | 241 | |
Valuation adjustments related to long-term debt | 441 | 7,593 | |
Share of net income/(loss) from equity method investments | (41) | (50) | |
Trading assets and liabilities, net | 377 | (11,946) | |
(Increase)/decrease in other assets | (12,052) | (1,688) | |
Increase/(decrease) in other liabilities | 5,053 | 1,685 | |
Other, net | (387) | (577) | |
Total adjustments | (5,059) | (4,062) | |
Net cash provided by/(used in) operating activities | (2,721) | (2,502) | |
Investing activities of continuing operations | |||
(Increase)/decrease in interest-bearing deposits with banks | (471) | 237 | |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (899) | 2,920 | |
Purchase of investment securities | (259) | (307) | |
Proceeds from sale of investment securities | 626 | 4 | |
Maturities of investment securities | 51 | 394 | |
Investments in subsidiaries and other investments | (71) | (147) | |
Proceeds from sale of other investments | 413 | 568 | |
(Increase)/decrease in loans | (3,002) | (11,065) | |
Proceeds from sale of loans | 2,319 | 2,460 | |
Capital expenditures for premises and equipment and other intangible assets | (484) | (471) | |
Proceeds from sale of premises and equipment and other intangible assets | 23 | 29 | |
Other, net | 88 | 222 | |
Net cash provided by/(used in) investing activities | (1,666) | (5,156) | |
Financing activities of continuing operations | |||
Increase/(decrease) in due to banks and customer deposits | 9,595 | 4,909 | |
Increase/(decrease) in short-term borrowings | 401 | 3,891 | |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 3,707 | (4,856) | |
Issuances of long-term debt | 41,092 | 14,659 | |
Repayments of long-term debt | (19,814) | (18,604) | |
Sale of treasury shares | 0 | 0 | |
Repurchase of treasury shares | 0 | 0 | |
Dividends paid/capital repayments | (10) | (11) | |
Other, net | 459 | 280 | |
Net cash provided by/(used in) financing activities | 35,430 | 268 | |
Effect of exchange rate changes on cash and due from banks | |||
Effect of exchange rate changes on cash and due from banks | (795) | (150) | |
Net increase/(decrease) in cash and due from banks | |||
Net increase/(decrease) in cash and due from banks | 30,248 | (7,540) | |
Cash and due from banks at beginning of period | [2] | 101,044 | 99,314 |
Cash and due from banks at end of period | [2] | 131,292 | 91,774 |
Cash paid for income taxes and interest | |||
Cash paid for income taxes | 443 | 400 | |
Cash paid for interest | SFr 4,954 | SFr 6,659 | |
[1] | Includes restricted cash. | ||
[2] | Includes restricted cash. |
Summary of significant accounti
Summary of significant accounting policies | 6 Months Ended |
Jun. 30, 2020 | |
Summary of significant accounting policies | 1 Summary of significant accounting policies Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse Group AG (the Group) are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2019 included in the Credit Suisse Annual Report 2019. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for a description of the Group’s significant accounting policies, except as outlined in “Note 15 – Investment securities” and “Note 18 – Financial instruments measured at amortized cost and credit losses”, which reflect changes in policies relating to the adoption of Accounting Standards Update (ASU) 2016-13, “Measurement of Credit Losses on Financial Instruments” (ASU 2016-13) and subsequent amendments, which were adopted as of January 1, 2020. Certain financial information, which is normally included in annual consolidated financial statements prepared in accordance with US GAAP, but not required for interim reporting purposes, has been condensed or omitted. Certain reclassifications have been made to the prior period’s consolidated financial statements to conform to the current period’s presentation. These condensed consolidated financial statements reflect, in the opinion of management, all adjustments that are necessary for a fair presentation of the condensed consolidated financial statements for the periods presented. The 1Q20 consolidated statements of operations and comprehensive income, the 1Q20 consolidated balance sheet and the 1Q20 consolidated statement of changes in equity have been added for the convenience of the reader and are not a required presentation under US GAAP. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Bank | |
Summary of significant accounting policies | 1 Summary of significant accounting policies Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse AG (the Bank), the direct bank subsidiary of Credit Suisse Group AG (the Group), are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2019, included in the Credit Suisse Group AG & Credit Suisse AG Annual Report 2019 (Credit Suisse Annual Report 2019). In addition, these condensed consolidated financial statements make references to the Group’s condensed consolidated financial statements in its 2Q20 and 1Q20 Financial Reports and the Group’s consolidated financial statements in the Credit Suisse Annual Report 2019. > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for a description of the Bank’s significant accounting policies. Certain financial information, which is normally included in annual consolidated financial statements prepared in accordance with US GAAP, but not required for interim reporting purposes, has been condensed or omitted. Certain reclassifications have been made to the prior period’s consolidated financial statements to conform to the current period’s presentation. These condensed consolidated financial statements reflect, in the opinion of management, all adjustments that are necessary for a fair presentation of the condensed consolidated financial statements for the periods presented. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Recently issued accounting stan
Recently issued accounting standards | 6 Months Ended |
Jun. 30, 2020 | |
Recently issued accounting standards | 2 Recently issued accounting standards Recently adopted accounting standards The following provides the most relevant recently adopted accounting standards. > Refer to “Note 2 – Recently issued accounting standards” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for a description of accounting standards adopted in 2019. ASC Topic 820 – Fair Value Measurement In August 2018, the Financial Accounting Standards Board (FASB) issued ASU 2018-13, “Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement” (ASU 2018-13), an update to Accounting Standards Codification (ASC) Topic 820 – Fair Value Measurement. The amendments in ASU 2018-13 removed, modified and added certain disclosure requirements in ASC Topic 820, Fair Value Measurement. ASU 2018-13 is effective for annual reporting periods beginning after December 15, 2019 and for the interim periods within those annual reporting periods. Early adoption was permitted, including in an interim period, for any eliminated or modified disclosure requirements. The Group early adopted the amendments for removing disclosures and the amendments for certain modifying disclosures upon the issuance of ASU 2018-13. The Group adopted the remaining amendments on January 1, 2020. As these amendments related only to disclosures, there was no impact from the adoption of ASU 2018-13 on the Group’s financial position, results of operations or cash flows. ASC Topic 326 – Financial Instruments – Credit Losses In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments” (ASU 2016-13), creating ASC Topic 326 – Financial Instruments – Credit Losses. ASU 2016-13 is intended to improve financial reporting by requiring timelier recording of credit losses on financial assets measured at amortized cost basis including, but not limited to loans, net investments in leases and off-balance sheet credit exposures. ASU 2016-13 eliminated the probable initial recognition threshold under the previous incurred loss methodology for recognizing credit losses. Instead, ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date over the remaining contractual life (considering the effect of prepayments) based on historical experience, current conditions and reasonable and supportable forecasts. The Group has incorporated forward-looking information and macroeconomic factors into its credit loss estimates. ASU 2016-13 requires enhanced disclosures to help investors and other financial statement users to better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In May 2019, the FASB issued ASU 2019-05, “Financial Instruments – Credit Losses” (ASU 2019-05), to provide targeted transition relief upon the adoption of ASU 2016-13. The amendment provided the option to irrevocably elect the fair value option on certain financial assets on transition. As the Group is an SEC filer, ASU 2016-13 and its subsequent amendments were effective for annual reporting periods beginning after December 15, 2019, including interim periods within those annual reporting periods. The Group adopted ASU 2016-13 and its subsequent amendments on January 1, 2020, applying the modified retrospective approach, which resulted in a decrease in retained earnings of CHF 132 million, net of tax, with no significant impact on regulatory capital. Standards to be adopted in future periods ASC Topic 740 – Income Taxes In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes” (ASU 2019-12), an update to ASC Topic 740 – Income Taxes. The amendments in ASU 2019-12 eliminate certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the accounting for basis differences when there are changes in foreign ownership. In addition, ASU 2019-12 includes clarification and simplification of other aspects of the accounting for income taxes. The amendments are effective for annual reporting periods beginning after December 15, 2020 and for the interim periods within those annual reporting periods. Early adoption is permitted, including in an interim period. The Group is currently evaluating the impact of the adoption of ASU 2019-12 on the Group’s financial position, results of operations and cash flows. ASC Topic 848 – Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (ASU 2020-04), creating ASC Topic 848 - Reference Rate Reform. The amendments in ASU 2020-04 provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments are elective and apply to contracts, hedging relationships and other transactions that reference the London Interbank Offered Rate (LIBOR) or another reference rate expected to be discontinued because of reference rate reform. The Group may elect to apply the amendments as of March 12, 2020 through December 31, 2022. The Group is currently evaluating the impact of the adoption of ASU 2020-04 on the Group’s financial position, results of operations and cash flows. |
Bank | |
Recently issued accounting standards | 2 Recently issued accounting standards > Refer to “Note 2 – Recently issued accounting standards” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for a description of accounting standards adopted in 2018. > Refer to “Note 2 – Recently issued accounting standards” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 for the most recently adopted accounting standards and standards to be adopted in future periods. ASC Topic 326 – Financial Instruments – Credit Losses As the Bank is an SEC filer, ASU 2016-13 and its subsequent amendments were effective for annual reporting periods beginning after December 15, 2019, including interim periods within those annual reporting periods. The Bank adopted ASU 2016-13 and its subsequent amendments on January 1, 2020, applying the modified retrospective approach, which resulted in a decrease in retained earnings of CHF 132 million, net of tax, with no significant impact on regulatory capital. The impact on the Bank’s and Group’s financial condition, results of operations or cash flows was or is expected to be identical. |
Business developments
Business developments | 6 Months Ended |
Jun. 30, 2020 | |
Business developments | 3 Business developments and subsequent events Business developments On July 30, 2020, the Group announced that its Board of Directors had resolved to introduce a series of measures designed to propel further growth while building on the Group’s performance in 2Q20. The Board of Directors has reaffirmed the existing Group strategy to be a leading wealth manager with strong global investment banking capabilities and approved a series of key strategic growth initiatives designed to build on the Group’s existing performance following the completed three-year restructuring program from 2015 through 2018. To support the execution of the strategy, effective August 1, 2020 the Group will create a single, globally-integrated Investment Bank division through the combination of its existing Global Markets, Investment Banking & Capital Markets and Asia Pacific – Markets businesses to achieve critical scale. The Group will launch a new Sustainability, Research & Investment Solutions function at the Executive Board level, underlining the sharpened focus on sustainability. The Group will combine its existing Risk Management and Compliance functions into a single integrated Chief Risk and Compliance Officer function to unlock potential global synergies. The Group will also introduce certain refinements and investments in growth measures in the Swiss Universal Bank, International Wealth Management and Asia Pacific divisions. Subsequent events There were no subsequent events since the balance sheet date of the condensed consolidated financial statements. |
Bank | |
Business developments | 3 Business developments and subsequent events > Refer to “Note 3 – Business developments and subsequent events” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 for further information on business developments. There were no subsequent events since the balance sheet date of the condensed consolidated financial statements. |
Segment information
Segment information | 6 Months Ended |
Jun. 30, 2020 | |
Segment information | 4 Segment information The Group is a global financial services company domiciled in Switzerland and serves its clients through three regionally focused divisions: Swiss Universal Bank, International Wealth Management and Asia Pacific. These regional businesses are supported by two other divisions specialized in investment banking capabilities: Global Markets and Investment Banking & Capital Markets. The segment information reflects the Group’s reportable segments and the Corporate Center, which are managed and reported on a pre-tax basis. > Refer to “Note 4 – Segment information” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information on segment information, revenue sharing and cost allocation and funding. Net revenues and income/(loss) before taxes in 2Q20 1Q20 2Q19 6M20 6M19 Net revenues (CHF million) Swiss Universal Bank 1,504 1,509 1,476 3,013 2,855 International Wealth Management 1,274 1,502 1,369 2,776 2,786 Asia Pacific 1,064 1,025 913 2,089 1,767 Global Markets 1,901 1,630 1,553 3,531 3,025 Investment Banking & Capital Markets 702 183 454 885 810 Corporate Center (251) (73) (184) (324) (275) Net revenues 6,194 5,776 5,581 11,970 10,968 Income/(loss) before taxes (CHF million) Swiss Universal Bank 687 589 654 1,276 1,204 International Wealth Management 348 537 444 885 967 Asia Pacific 298 252 237 550 420 Global Markets 591 330 357 921 639 Investment Banking & Capital Markets 202 (378) 6 (176) (87) Corporate Center (575) (129) (396) (704) (779) Income/(loss) before taxes 1,551 1,201 1,302 2,752 2,364 Total assets end of 2Q20 1Q20 4Q19 Total assets (CHF million) Swiss Universal Bank 239,966 237,733 232,729 International Wealth Management 97,067 93,262 93,059 Asia Pacific 101,719 102,109 107,660 Global Markets 213,114 241,242 214,019 Investment Banking & Capital Markets 26,728 24,466 17,819 Corporate Center 149,886 133,354 122,009 Total assets 828,480 832,166 787,295 |
Bank | |
Segment information | 4 Segment information > Refer to “Note 4 – Segment information” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 for further information. For the purpose of presentation of reportable segments, the Bank has included accounts of affiliate entities wholly owned by the same parent which are managed together with the operating segments of the Bank. Net revenues and income/(loss) before taxes in 6M20 6M19 Net revenues (CHF million) Swiss Universal Bank 3,013 2,855 International Wealth Management 2,776 2,786 Asia Pacific 2,089 1,767 Global Markets 3,531 3,025 Investment Banking & Capital Markets 885 810 Adjustments (279) (132) Net revenues 12,015 11,111 Income/(loss) before taxes (CHF million) Swiss Universal Bank 1,276 1,204 International Wealth Management 885 967 Asia Pacific 550 420 Global Markets 921 639 Investment Banking & Capital Markets (176) (87) Adjustments 1 (874) (882) Income/(loss) before taxes 2,582 2,261 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain revenues and expenses that were not allocated to the segments, including such items relating to the Asset Resolution Unit. Total assets end of 6M20 2019 Total assets (CHF million) Swiss Universal Bank 239,966 232,729 International Wealth Management 97,067 93,059 Asia Pacific 101,719 107,660 Global Markets 213,114 214,019 Investment Banking & Capital Markets 26,728 17,819 Adjustments 1 152,895 125,173 Total assets 831,489 790,459 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain revenues and expenses that were not allocated to the segments, including such items relating to the Asset Resolution Unit. |
Net interest income
Net interest income | 6 Months Ended |
Jun. 30, 2020 | |
Net interest income | 5 Net interest income in 2Q20 1Q20 2Q19 6M20 6M19 Net interest income (CHF million) Loans 1,488 1,642 1,855 3,130 3,642 Investment securities 2 1 3 3 6 Trading assets 1,566 1,665 2,246 3,231 3,746 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 391 545 779 936 1,560 Other 142 442 770 584 1,517 Interest and dividend income 3,589 4,295 5,653 7,884 10,471 Deposits (299) (561) (808) (860) (1,591) Short-term borrowings (76) (76) (114) (152) (211) Trading liabilities (717) (756) (1,069) (1,473) (1,783) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (211) (294) (456) (505) (938) Long-term debt (657) (884) (910) (1,541) (1,814) Other (59) (190) (295) (249) (601) Interest expense (2,019) (2,761) (3,652) (4,780) (6,938) Net interest income 1,570 1,534 2,001 3,104 3,533 |
Bank | |
Net interest income | 5 Net interest income in 6M20 6M19 Net interest income (CHF million) Loans 3,113 3,646 Investment securities 3 5 Trading assets 3,231 3,746 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 936 1,560 Other 584 1,519 Interest and dividend income 7,867 10,476 Deposits (857) (1,593) Short-term borrowings (155) (218) Trading liabilities (1,473) (1,783) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (505) (938) Long-term debt (1,522) (1,788) Other (251) (601) Interest expense (4,763) (6,921) Net interest income 3,104 3,555 |
Commissions and fees
Commissions and fees | 6 Months Ended |
Jun. 30, 2020 | |
Commissions and fees | 6 Commissions and fees in 2Q20 1Q20 2Q19 6M20 6M19 Commissions and fees (CHF million) Lending business 361 436 443 797 839 Investment and portfolio management 752 810 846 1,562 1,691 Other securities business 18 18 16 36 28 Fiduciary business 770 828 862 1,598 1,719 Underwriting 560 364 514 924 859 Brokerage 806 967 734 1,773 1,427 Underwriting and brokerage 1,366 1,331 1,248 2,697 2,286 Other services 383 332 374 715 695 Commissions and fees 2,880 2,927 2,927 5,807 5,539 |
Bank | |
Commissions and fees | 6 Commissions and fees in 6M20 6M19 Commissions and fees (CHF million) Lending business 786 827 Investment and portfolio management 1,508 1,612 Other securities business 40 46 Fiduciary business 1,548 1,658 Underwriting 981 861 Brokerage 1,774 1,435 Underwriting and brokerage 2,755 2,296 Other services 727 702 Commissions and fees 5,816 5,483 |
Trading revenues
Trading revenues | 6 Months Ended |
Jun. 30, 2020 | |
Trading revenues | 7 Trading revenues in 2Q20 1Q20 2Q19 6M20 6M19 Trading revenues (CHF million) Interest rate products 1,374 (2,248) (334) (874) 96 Foreign exchange products 539 571 (60) 1,110 (275) Equity/index-related products (375) 319 114 (56) 854 Credit products (682) 1,899 198 1,217 (130) Commodity and energy products 69 28 36 97 84 Other products 329 358 228 687 393 Trading revenues 1,254 927 182 2,181 1,022 Represents revenues on a product basis which are not representative of business results within segments, as segment results utilize financial instruments across various product types. > Refer to “Note 7 – Trading revenues” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information on trading revenues and managing trading risks. |
Bank | |
Trading revenues | 7 Trading revenues in 6M20 6M19 Trading revenues (CHF million) Interest rate products (921) 94 Foreign exchange products 1,113 (276) Equity/index-related products (88) 924 Credit products 1,217 (130) Commodity and energy products 97 84 Other products 687 391 Trading revenues 2,105 1,087 Represents revenues on a product basis which are not representative of business results within segments, as segment results utilize financial instruments across various product types. |
Other revenues
Other revenues | 6 Months Ended |
Jun. 30, 2020 | |
Other revenues | 8 Other revenues in 2Q20 1Q20 2Q19 6M20 6M19 Other revenues (CHF million) Loans held-for-sale 5 (21) (7) (16) (16) Long-lived assets held-for-sale 6 4 74 10 103 Equity method investments 23 36 54 59 110 Other investments 223 228 121 451 223 Other 233 141 229 374 454 Other revenues 490 388 471 878 874 |
Bank | |
Other revenues | 8 Other revenues in 6M20 6M19 Other revenues (CHF million) Loans held-for-sale (16) (16) Long-lived assets held-for-sale 10 103 Equity method investments 58 109 Other investments 451 222 Other 487 568 Other revenues 990 986 |
Provision for credit losses
Provision for credit losses | 6 Months Ended |
Jun. 30, 2020 | |
Provision for credit losses | 9 Provision for credit losses in 2Q20 1Q20 2Q19 6M20 6M19 Provision for credit losses (CHF million) Loans held at amortized cost 264 427 15 691 90 Other financial assets held at amortized cost 21 15 9 36 12 Off-balance sheet credit exposures 11 126 1 137 4 Provision for credit losses 296 568 25 864 106 |
Bank | |
Provision for credit losses | 9 Provision for credit losses in 6M20 6M19 Provision for credit losses (CHF million) Loans held at amortized cost 691 90 Other financial assets held at amortized cost 32 11 Off-balance sheet credit exposures 137 5 Provision for credit losses 860 106 |
Compensation and benefits
Compensation and benefits | 6 Months Ended |
Jun. 30, 2020 | |
Compensation and benefits | 10 Compensation and benefits in 2Q20 1Q20 2Q19 6M20 6M19 Compensation and benefits (CHF million) Salaries and variable compensation 2,234 1,909 2,161 4,143 4,331 Social security 172 168 187 340 346 Other 1 188 239 197 427 386 Compensation and benefits 2,594 2,316 2,545 4,910 5,063 1 Includes pension-related expenses of CHF 113 million, CHF 150 million, CHF 112 million, CHF 263 million and CHF 220 million in 2Q20 1Q20 2Q19 6M20 6M19 |
Bank | |
Compensation and benefits | 10 Compensation and benefits in 6M20 6M19 Compensation and benefits (CHF million) Salaries and variable compensation 3,711 3,900 Social security 293 301 Other 416 1 408 Compensation and benefits 4,420 4,609 1 Includes pension-related expenses of CHF 272 million and CHF 256 million in 6M20 and 6M19, respectively, relating to service costs for defined benefit pension plans and employer contributions for defined contribution pension plans. |
General and administrative expe
General and administrative expenses | 6 Months Ended |
Jun. 30, 2020 | |
General and administrative expenses | 11 General and administrative expenses in 2Q20 1Q20 2Q19 6M20 6M19 General and administrative expenses (CHF million) Occupancy expenses 237 228 247 465 529 IT, machinery and equipment 357 350 326 707 649 Provisions and losses 133 72 78 205 136 Travel and entertainment 28 68 88 96 166 Professional services 377 375 407 752 810 Amortization and impairment of other intangible assets 1 2 1 3 3 Other 1 307 251 248 558 515 General and administrative expenses 1,440 1,346 1,395 2,786 2,808 1 Includes pension-related expenses/(credits) of CHF (40) (40) (52) (80) (86) 2Q20 1Q20 2Q19 6M20 6M19 |
Bank | |
General and administrative expenses | 11 General and administrative expenses in 6M20 6M19 General and administrative expenses (CHF million) Occupancy expenses 415 478 IT, machinery and equipment 561 515 Provisions and losses 203 136 Travel and entertainment 85 151 Professional services 1,481 1,497 Amortization and impairment of other intangible assets 3 3 Other 1 747 728 General and administrative expenses 3,495 3,508 1 Includes pension-related expenses/(credits) of CHF 1 million and CHF 5 million in 6M20 and 6M19, respectively, relating to certain components of net periodic benefit costs for defined benefit plans. |
Restructuring expenses
Restructuring expenses | 6 Months Ended |
Jun. 30, 2020 | |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | 12 Earnings per share in 2Q20 1Q20 2Q19 6M20 6M19 Basic net income/(loss) attributable to shareholders (CHF million) Net income attributable to shareholders for basic earnings per share 1,162 1,314 937 2,476 1,686 Net income attributable to shareholders for diluted earnings per share 1,162 1,314 937 2,476 1,686 Weighted-average shares outstanding (million) For basic earnings per share available for common shares 2,473.6 2,465.9 2,546.1 2,469.7 2,559.6 Dilutive share options and warrants 2.6 1.6 4.0 2.1 3.6 Dilutive share awards 35.2 60.1 46.4 47.7 45.9 For diluted earnings per share available for common shares 1 2,511.4 2,527.6 2,596.5 2,519.5 2,609.1 Earnings/(loss) per share available for common shares (CHF) Basic earnings per share available for common shares 0.47 0.53 0.37 1.00 0.66 Diluted earnings per share available for common shares 0.46 0.52 0.36 0.98 0.65 1 Weighted-average potential common shares relating to instruments that were not dilutive for the respective periods (and therefore not included in the diluted earnings per share calculation above) but could potentially dilute earnings per share in the future were 5.3 million, 4.2 million, 6.2 million, 4.8 million and 6.5 million for 2Q20, 1Q20, 2Q19, 6M20 and 6M19, respectively. |
Revenue from contracts with cus
Revenue from contracts with customers | 6 Months Ended |
Jun. 30, 2020 | |
Revenue from Contract with Customer [Text Block] | 13 Revenue from contracts with customers The Group receives investment advisory and investment management fees for services provided in its wealth management businesses which are generally reflected in the line item ‘Investment and portfolio management’ in the table “Contracts with customers and disaggregation of revenues”. As a fund manager, the Group typically receives base management fees and may additionally receive performance-based management fees which are both recognized as ‘Investment and portfolio management’ revenues in the table “Contracts with customers and disaggregation of revenues”. The Group’s capital markets businesses underwrite and sell securities on behalf of customers and receives underwriting fees. The Group also offers brokerage services in its investment banking businesses, including global securities sales, trading and execution, prime brokerage and investment research. For the services provided, such as for example the execution of client trades in securities or derivatives, the Group typically earns a brokerage commission when the trade is executed. Credit Suisse’s investment banking businesses provide services that include advisory services to clients in connection with corporate finance activities. The term ‘advisory’ includes any type of service the Group provides in an advisory capacity. Revenues recognized from these services are reflected in the line item ‘Other Services’ in the table. Contracts with customers and disaggregation of revenues in 2Q20 1Q20 2Q19 6M20 6M19 Contracts with customers (CHF million) Investment and portfolio management 752 810 846 1,562 1,691 Other securities business 18 18 16 36 28 Underwriting 560 364 514 924 859 Brokerage 805 966 732 1,771 1,426 Other services 387 337 375 724 697 Total revenues from contracts with customers 2,522 2,495 2,483 5,017 4,701 The table above differs from “Note 6 – Commissions and fees” as it includes only those contracts with customers that are in scope of ASC Topic 606 – Revenue from Contracts with Customers. Contract balances end of 2Q20 1Q20 4Q19 Contract balances (CHF million) Contract receivables 952 841 880 Contract liabilities 53 58 53 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 12 11 14 The Group did not recognize any revenue in the reporting period from performance obligations satisfied in previous periods. There were no material net impairment losses on contract receivables in 2Q20, 1Q20 and 4Q19. The Group’s contract terms are generally such that they do not result in any contract assets. Remaining performance obligations ASC Topic 606’s practical expedient allows the Group to exclude from its remaining performance obligations disclosure any performance obligations which are part of a contract with an original expected duration of one year or less. Additionally any variable consideration, for which it is probable that a significant reversal in the amount of cumulative revenue recognized will occur when the uncertainty associated with the variable consideration is subsequently resolved, is not subject to the remaining performance obligations disclosure because such variable consideration is not included in the transaction price (e.g., investment management fees). Upon review, the Group determined that no material remaining performance obligations are in scope of the remaining performance obligations disclosure. > Refer to “Note 14 – Revenue from contracts with customers” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information. |
Bank | |
Revenue from Contract with Customer [Text Block] | 12 Revenue from contracts with customers > Refer to “Note 13 – Revenue from contracts with customers” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 for further information. Contracts with customers and disaggregation of revenues in 6M20 6M19 Contracts with customers (CHF million) Investment and portfolio management 1,508 1,612 Other securities business 40 46 Underwriting 981 861 Brokerage 1,772 1,433 Other services 774 745 Total revenues from contracts with customers 5,075 4,697 The table above differs from “Note 6 – Commissions and fees” as it includes only those contracts with customers that are in scope of ASC Topic 606 – Revenue from Contracts with Customers. Contract balances end of 2Q20 1Q20 4Q19 Contract balances (CHF million) Contract receivables 983 859 886 Contract liabilities 53 58 53 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 12 11 14 There were no material net impairment losses on contract receivables in 6M20 and 6M19. The Bank’s contract terms are generally such that they do not result in any contract assets. The Bank did not recognize any revenues in the reporting period from performance obligations satisfied in previous periods. Remaining performance obligations ASC Topic 606’s practical expedient allows the Bank to exclude from its remaining performance obligations disclosure any performance obligations which are part of a contract with an original expected duration of one year or less. Additionally any variable consideration, for which it is probable that a significant reversal in the amount of cumulative revenue recognized will occur when the uncertainty associated with the variable consideration is subsequently resolved, is not subject to the remaining performance obligations disclosure because such variable consideration is not included in the transaction price (e.g., investment management fees). The Bank determined that no material remaining performance obligations are in scope of the remaining performance obligations disclosure. > Refer to “Note 13 – Revenue from contracts with customers” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for further information. |
Trading assets and liabilities
Trading assets and liabilities | 6 Months Ended |
Jun. 30, 2020 | |
Trading assets and liabilities | 14 Trading assets and liabilities end of 2Q20 1Q20 4Q19 Trading assets (CHF million) Debt securities 70,962 68,618 66,994 Equity securities 55,232 47,574 64,542 Derivative instruments 1 25,834 29,458 17,731 Other 4,702 5,148 4,530 Trading assets 156,730 150,798 153,797 Trading liabilities (CHF million) Short positions 28,606 24,239 24,714 Derivative instruments 1 15,434 20,638 13,472 Trading liabilities 44,040 44,877 38,186 1 Amounts shown after counterparty and cash collateral netting. Cash collateral on derivative instruments end of 2Q20 1Q20 4Q19 Cash collateral on derivatives instruments – netted (CHF million) 1 Cash collateral paid 26,076 29,272 20,695 Cash collateral received 17,958 21,217 14,633 Cash collateral on derivatives instruments– not netted (CHF million) 2 Cash collateral paid 7,488 9,526 4,570 Cash collateral received 7,184 8,260 7,457 1 Recorded as cash collateral netting on derivative instruments in Note 23 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 20 – Other assets and other liabilities. |
Bank | |
Trading assets and liabilities | 13 Trading assets and liabilities end of 6M20 2019 Trading assets (CHF million) Debt securities 71,072 67,030 Equity securities 55,269 64,604 Derivative instruments 1 25,834 17,730 Other 4,702 4,531 Trading assets 156,877 153,895 Trading liabilities (CHF million) Short positions 28,606 24,714 Derivative instruments 1 15,434 13,472 Trading liabilities 44,040 38,186 1 Amounts shown after counterparty and cash collateral netting. Cash collateral on derivative instruments end of 6M20 2019 Cash collateral on derivative instruments – netted (CHF million) 1 Cash collateral paid 26,163 20,739 Cash collateral received 17,958 14,633 Cash collateral on derivative instruments – not netted (CHF million) 2 Cash collateral paid 7,488 4,570 Cash collateral received 7,184 7,457 1 Recorded as cash collateral netting on derivative instruments in Note 22 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 19 – Other assets and other liabilities. |
Investment securities
Investment securities | 6 Months Ended |
Jun. 30, 2020 | |
Investment securities | 15 Investment securities end of 2Q20 1Q20 4Q19 Investment securities (CHF million) Debt securities held-to-maturity 95 96 0 Debt securities available-for-sale 489 1,068 1,006 Total investment securities 584 1,164 1,006 Investment securities by type 2Q20 4Q19 Gross Gross Gross Gross Investment securities by type (CHF million) Corporate debt securities 95 0 0 95 0 0 0 0 Debt securities held-to-maturity 95 0 0 95 0 0 0 0 Swiss federal, cantonal or local government entities 2 0 0 2 2 0 0 2 Foreign governments 0 0 0 0 163 8 0 171 Corporate debt securities 481 6 0 487 807 28 2 833 Debt securities available-for-sale 483 6 0 489 972 36 2 1,006 Gross unrealized losses on debt securities and related fair value Less than 12 months 12 months or more Total Gross Gross Gross 4Q19 (CHF million) Corporate debt securities 204 2 0 0 204 2 Debt securities available-for-sale 204 2 0 0 204 2 Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M20 6M19 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 626 4 Realized gains 42 0 Amortized cost, fair value and average yield of debt securities Average (CHF million, except where indicated) Due within 1 year 95 95 0.51 Debt securities held-to-maturity 95 95 0.51 Due within 1 year 151 151 0.39 Due from 1 to 5 years 2 2 3.70 Due from 5 to 10 years 330 336 0.08 Debt securities available-for-sale 483 489 0.20 Allowance for credit losses on debt securities available-for-sale A credit loss exists if there is a decline in fair value of the security below the amortized cost as a result of the non-collectability of the amounts due in accordance with the contractual terms. An allowance for expected credit losses is recorded in the consolidated statement of operations in provision for credit losses and the noncredit-related losses are recorded in accumulated other comprehensive income (AOCI). Subsequent improvements in the estimated credit losses are immediately recorded in the consolidated statement of operations as a reduction in allowance and credit loss expense. A security is written-off if it is considered certain that there is no possibility of recovering the outstanding principal. As of the end of 2Q20, the Group had no allowance for credit losses on debt securities available-for-sale. |
Bank | |
Investment securities (old to delete) | 14 Investment securities end of 6M20 2019 Investment securities (CHF million) Debt securities held-to-maturity 95 0 Debt securities available-for-sale 487 1,004 Total investment securities 582 1,004 Investment securities by type 6M20 2019 Gross Gross Gross Gross Investment securities by type (CHF million) Corporate debt securities 95 0 0 95 0 0 0 0 Debt securities held-to-maturity 95 0 0 95 0 0 0 0 Foreign governments 0 0 0 0 163 8 0 171 Corporate debt securities 481 6 0 487 807 28 2 833 Debt securities available-for-sale 481 6 0 487 970 36 2 1,004 Gross unrealized losses on debt securities and related fair value Less than 12 months 12 months or more Total Gross Gross Gross 2019 (CHF million) Corporate debt securities 204 2 0 0 204 2 Debt securities available-for-sale 204 2 0 0 204 2 > Refer to “Note 15 – Investment securities” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 for further information on gross unrealized losses on debt securities and related fair value. Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M20 6M19 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 626 4 Realized gains 42 0 Amortized cost, fair value and average yield of debt securities Average CHF million, except where indicated Due within 1 year 95 95 0.51 Debt securities held-to-maturity 95 95 0.51 Due within 1 year 151 151 0.39 Due from 5 to 10 years 330 336 0.08 Debt securities available-for-sale 481 487 0.18 Allowance for credit losses on debt securities available-for-sale > Refer to “Note 15 – Investment securities” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 for further information on allowance for credit losses on debt securities available for sale. As of the end of 6M20, the Bank had no allowance for credit losses on debt securities available-for-sale. |
Other investments
Other investments | 6 Months Ended |
Jun. 30, 2020 | |
Other investments | 16 Other investments end of 2Q20 1Q20 4Q19 Other investments (CHF million) Equity method investments 2,874 2,994 2,367 Equity securities (without a readily determinable fair value) 1 1,823 1,689 2,148 of which at net asset value 357 344 409 of which at measurement alternative 387 243 274 of which at fair value 1,047 1,070 1,434 of which at cost less impairment 32 32 31 Real estate held-for-investment 2 84 89 99 Life finance instruments 3 1,067 1,086 1,052 Total other investments 5,848 5,858 5,666 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Group has neither significant influence nor control over the investee. 2 As of the end of 2Q20 1Q20 4Q19 3 Includes single premium immediate annuity contracts. Equity securities at measurement alternative in / end of 6M20 Cumulative 6M19 Impairments and adjustments (CHF million) Impairments and downward adjustments (3) (11) 0 Upward adjustments 137 148 11 > Refer to “Note 30 – Financial instruments” for further information on equity securities without a readily determinable fair value. In 2Q20, as a result of a corporate action by Pfandbriefbank, the Group has revalued the shares it holds in Pfandbriefbank under the measurement alternative principle in accordance with US GAAP in respect of this equity investment. This resulted in a gain before taxes of CHF 134 million. Following the completion of the first step of the combination of our open architecture investment fund platform InvestLab and Allfunds Group in September 2019, the Group successfully completed the second and final step of the combination in March 2020 with the transfer of related distribution agreements to Allfunds Group. Upon completion of this final step, the Group has become an 18% Accumulated depreciation related to real estate held-for-investment amounted to CHF 33 million, CHF 34 million and CHF 34 million for 2Q20, 1Q20 and 4Q19, respectively. An impairment of CHF 1 million was recorded on real estate held-for-investments in 2Q20 and 6M20. No impairments were recorded on real estate held-for-investments in 1Q20, 2Q19 and 6M19, respectively. |
Bank | |
Other investments | 15 Other investments end of 6M20 2019 Other investments (CHF million) Equity method investments 2,868 2,361 Equity securities (without a readily determinable fair value) 1 1,819 2,145 of which at net asset value 355 407 of which at measurement alternative 385 272 of which at fair value 1,047 1,434 of which at cost less impairment 32 32 Real estate held-for-investment 2 60 76 Life finance instruments 3 1,067 1,052 Total other investments 5,814 5,634 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Bank has neither significant influence nor control over the investee. 2 As of the end of 6M20 and 2019, real estate held for investment included foreclosed or repossessed real estate of CHF 16 million and CHF 24 million, respecitvely, of which CHF 11 million and CHF 10 million, respecively were related to residential real estate. 3 Includes single premium immediate annuity contracts. Equity securities at measurement alternative – impairments and adjustments in / end of 6M20 Cumulative 6M19 Impairments and adjustments (CHF million) Impairments and downward adjustments (3) (11) 0 Upward adjustments 137 148 11 > Refer to “Note 29 – Financial instruments” for further information on equity securities without a readily determinable fair value. In 2Q20, as a result of a corporate action by Pfandbriefbank, the Bank has revalued the shares it holds in Pfandbriefbank under the measurement alternative principle in accordance with US GAAP in respect of this equity investment. This resulted in a gain before taxes of CHF 134 million. Following the completion of the first step of the combination of our open architecture investment fund platform InvestLab and Allfunds Group in September 2019, the Group successfully completed the second and final step of the combination in March 2020 with the transfer of related distribution agreements to Allfunds Group. Upon completion of this final step, the Bank has become an 18% Accumulated depreciation related to real estate held-for-investment amounted to CHF 29 million for both 6M20 and 2019. An impairment of CHF 1 million was recorded on real estate held-for-investments in 6M20, while no impairment was recorded in 6M19. |
Loans, allowance for loan losse
Loans, allowance for loan losses and credit quality | 6 Months Ended |
Jun. 30, 2020 | |
Loans | 17 Loans The Group’s loan portfolio is classified into two portfolio segments, consumer loans and corporate & institutional loans. Consumer loans are disaggregated into the classes of mortgages, loans collateralized by securities and consumer finance. Corporate & institutional loans are disaggregated into the classes of real estate, commercial and industrial loans, financial institutions, and governments and public institutions. For financial reporting purposes, the carrying values of loans and related allowance for loan losses are presented in accordance with US GAAP and are not comparable with the regulatory credit risk exposures presented in our disclosures required under Pillar 3 of the Basel framework. Loans end of 2Q20 1Q20 4Q19 Loans (CHF million) Mortgages 1 110,022 109,566 109,671 Loans collateralized by securities 1 48,984 50,877 56,425 Consumer finance 4,977 5,286 4,401 Consumer 163,983 165,729 170,497 Real estate 29,095 29,706 29,220 Commercial and industrial loans 1 79,341 84,035 73,495 Financial institutions 20,046 20,948 20,367 Governments and public institutions 3,628 3,799 4,262 Corporate & institutional 132,110 138,488 127,344 Gross loans 296,093 304,217 297,841 of which held at amortized cost 282,862 289,944 285,179 of which held at fair value 13,231 14,273 12,662 Net (unearned income)/deferred expenses (112) (112) (116) Allowance for credit losses (1,669) (1,431) (946) Net loans 294,312 302,674 296,779 Gross loans by location (CHF million) Switzerland 166,707 165,944 163,133 Foreign 129,386 138,273 134,708 Gross loans 296,093 304,217 297,841 Impaired loan portfolio (CHF million) Non-performing loans 1,994 1,555 1,250 Non-interest-earning loans 280 248 260 Non-accrual loans 2,274 1,803 1,510 Restructured loans 226 196 350 Potential problem loans 791 519 266 Other impaired loans 1,017 715 616 Gross impaired loans 2 3,291 2,518 2,126 1 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. 2 As of the end of 2Q20, 1Q20 and 4Q19, CHF 213 million, CHF 209 million and CHF 208 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. In accordance with Group policies, impaired loans include nonaccrual loans, comprised of non-performing loans and non-interest-earning loans, as well as restructured loans and potential problem loans. > Refer to “Loans” in Note 1 – Summary of significant accounting policies in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information on loans and categories of impaired loans. > Refer to “Note 18 – Financial instruments measured at amortized cost and credit losses” for further information on loans held at amortized cost. |
Bank | |
Loans | 16 Loans > Refer to “Note 17 – Loans” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q20 for further information. Loans end of 6M20 2019 Loans (CHF million) Mortgages 1 110,022 109,671 Loans collateralized by securities 1 48,984 56,425 Consumer finance 4,977 4,401 Consumer 163,983 170,497 Real estate 29,095 29,220 Commercial and industrial loans 1 79,834 74,094 Financial institutions 27,167 27,013 Governments and public institutions 3,628 4,262 Corporate & institutional 139,724 134,589 Gross loans 303,707 305,086 of which held at amortized cost 290,476 292,425 of which held at fair value 13,231 12,661 Net (unearned income)/deferred expenses (112) (116) Allowance for credit losses (1,668) (945) Net loans 301,927 304,025 Gross loans by location Switzerland 173,727 169,671 Foreign 129,980 135,415 Gross loans 303,707 305,086 Impaired loans Non-performing loans 1,994 1,250 Non-interest-earning loans 268 248 Non-accrual loans 2,262 1,498 Restructured loans 226 350 Potential problem loans 791 266 Other impaired loans 1,017 616 Gross impaired loans 2 3,279 2,114 1 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. 2 As of the end of 6M20 and 2019, CHF 213 million and CHF 208 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. > Refer to “Loans” in Note 1 – Summary of significant accounting policies in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information on categories of impaired loans. > Refer to “Note 17– Financial instruments measured at amortized cost and credit losses” for further information on loans held at amortized cost. |
CECL - Financial instruments me
CECL - Financial instruments measured at amortized cost and credit losses | 6 Months Ended |
Jun. 30, 2020 | |
Financial instruments measured at amortized cost and credit losses | 18 Financial instruments measured at amortized cost and credit losses This disclosure provides an overview of the Group’s balance sheet positions that include financial assets carried at amortized cost that are subject to the CECL accounting guidance, effective since January 1, 2020. It includes the following sections: ■ ■ ■ ■ ■ ■ ■ As of the end of 2Q20, the Group had no notable balances of purchased financial assets with credit deterioration since origination. Overview of financial instruments measured at amortized cost – by balance sheet position 1 Allowance Net 2Q20 (CHF million) Cash and due from banks 131,709 (7) 131,702 Interest-bearing deposits with banks 1,191 2 (6) 1,185 Securities purchased under resale agreements and securities borrowing transactions 26,442 0 26,442 Debt securities held-to-maturity 95 0 95 Loans 282,750 2,3 (1,669) 281,081 Brokerage receivables 44,287 2 0 44,287 Other assets 14,981 (57) 14,924 Total 501,455 (1,739) 499,716 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest in the total amount of CHF 490 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 2 million relates to interest-bearing deposits with banks, CHF 453 million to loans and CHF 35 million to brokerage receivables. These accrued interest balances are reported in other assets. 3 Includes endangered interest of CHF 92 million on non-accrual loans which are reported as part of the loans' amortized cost balance. Allowance for credit losses Accounting policies The credit loss requirements apply to financial assets measured at amortized cost including for example loans held-to-maturity and net investments in leases as a lessor as well as off-balance sheet credit exposures, such as irrevocable loan commitments, credit guarantees and similar instruments. The credit loss requirements are based on a forward-looking, lifetime CECL model by incorporating reasonable and supportable forecasts of future economic conditions available at the reporting date. The CECL amounts are estimated over the contractual term of the financial assets taking into account the effect of prepayments. This requires considerable judgment over how changes in macroeconomic factors (MEFs) as well as changes in forward-looking borrower-specific characteristics will affect the CECL amounts. The Group measures expected credit losses of financial assets on a collective (pool) basis when similar risk characteristics exist. For financial assets which do not share similar risk characteristics, expected credit losses are evaluated on an individual basis. CECL amounts are probability-weighted estimates of potential credit losses based on historical frequency, current trends and conditions as well as forecasted MEFs, such as gross domestic product (GDP), unemployment rates and interest rates. For financial assets that are performing at the reporting date, the allowance for credit losses is generally measured using a probability of default (PD)/loss given default (LGD) approach under which PD, LGD and exposure at default (EAD) are estimated. For financial assets that are credit-impaired at the reporting date, the Group generally applies a discounted cash flow approach to determine the difference between the gross carrying amount and the present value of estimated future cash flows. An allowance for credit losses is deducted from the amortized cost basis of the financial asset. Changes in the allowance for credit losses are recorded in the consolidated statement of operations in provision for credit losses or, if related to provisions on past due interest, in net interest income. Write-off of a financial asset occurs when it is considered certain that there is no possibility of recovering the outstanding principal. If the amount of loss on write-off is greater than the accumulated allowance for credit losses, the difference results in an additional credit loss. The additional credit loss is first recognized as an addition to the allowance; the allowance is then applied against the gross carrying amount. Any repossessed collateral is initially measured at fair value. The subsequent measurement depends on the nature of the collateral. Any uncollectible accrued interest receivable is written off by reversing the related interest income. Expected recoveries on financial assets previously written off or assessed/planned to be written off have to be reflected in the allowance for credit losses; for this purpose, the amount of expected recoveries cannot exceed the aggregate amounts previously written off or assessed/planned to be written off. Accordingly, expected recoveries from financial assets previously written off may result in an overall negative allowance for credit loss balance. Estimating expected credit losses – overview The following key elements and processes of estimating expected credit losses apply to the Group’s major classes of financial assets held at amortized cost. Expected credit losses on non-impaired credit exposures Expected credit loss models for non-impaired credit exposures have three main inputs: (i) PD, (ii) LGD and (iii) EAD. These parameters are derived from internally developed statistical models which are based on historical data and leverage regulatory models under the advanced internal rating-based approach. Expected credit loss models use forward-looking information to derive point-in-time estimates of forward-looking term structures. PD estimates are based on statistical rating models and tailored to various categories of counterparties and exposures. These statistical rating models are based on internally and externally compiled data comprising both quantitative and qualitative factors. A migration of a counterparty or exposure between rating classes leads to a change in the estimate of the associated PD. Lifetime PDs are estimated considering the expected macroeconomic environment, the contractual maturities of exposures and estimated prepayment rates where applicable. LGD estimates the size of the expected loss that may arise on a credit exposure in the event of a default. The Group estimates LGD based on the history of recovery rates of claims against defaulted counterparties, considering, as appropriate, factors such as differences in product structure, collateral type, seniority of the claim, counterparty industry and recovery costs of any collateral that is integral to the financial asset. Certain LGD values are also calibrated to reflect the expected macroeconomic environment. EAD represents the expected amount of credit exposure in the event of a default. It reflects the current drawn exposure with a counterparty and an expectation regarding the future evolution of the credit exposure under the contract or facility, including amortization and prepayments. The EAD of a financial asset is the gross carrying amount at default, which is modeled based on historical data considering portfolio-specific factors such as the drawn amount as of the reporting date, the facility limit, amortization schedules, financial collateral and product type. EAD models have a term structure and EADs are estimated based on historical observations. For certain financial assets, the Group determines EAD by modeling the range of possible exposure outcomes at various points in time using scenario and statistical techniques. Where a relationship to macroeconomic indicators is statistically sound and in line with economic expectations, the parameters are modeled accordingly, incorporating the Group’s forward looking forecasts and applying regional segmentations where appropriate. For periods beyond the reasonable and supportable forecast period, the Group reverts immediately to average economic environment variables as model input factors. Alternative qualitative estimation approaches are used for certain products. For lombard loans (including share-backed loans), the PD/LGD approach used does not consider the Group’s forward looking forecasts as these are not meaningful for the estimate of expected credit losses in light of the short time-frame considered for closing out positions under daily margining arrangements. For international private residential mortgages and securitizations, the Group applies qualitative approaches where credit specialists follow a structured process and use their expertise and judgment to determine the CECL amounts. The Group measures expected credit losses considering the risk of default over the maximum contractual period (including any borrower’s extension options) during which it is exposed to credit risk, even if the Group considers a longer period for risk management purposes. The maximum contractual period extends to the date at which the Group has the right to require repayment of an advance or terminate an irrevocable loan commitment or a credit guarantee. Expected credit losses on impaired credit exposures Expected credit losses for individually impaired credit exposures are measured by performing an in-depth review and analysis of impaired credit exposures, considering factors such as recovery and exit options as well as collateral and the risk profile of the borrower. If an individual credit exposure specifically identified for evaluation is considered impaired, the allowance is determined as a reasonable estimate of expected credit losses as of the end of the reporting period. Thereafter, the allowance is revalued by Credit Risk Management, at least annually or more frequently, depending on the risk profile of the borrower or credit relevant events. For impaired loans and certain other financial assets, the expected credit loss is measured using the present value of estimated future cash flows and the impaired credit exposure and related allowance are revalued to reflect the passage of time. For all classes of financial assets, the trigger to detect an impaired credit exposure is non-payment of interest, principal amounts or other contractual payment obligations, or when, for example, the Group may become aware of specific adverse information relating to a counterparty’s ability to meet their contractual obligations, despite the current repayment status of their particular credit facility. Additional procedures may apply to specific classes of financial assets as described further below. Troubled debt restructurings, also referred to as restructured loans, are considered impaired credit exposures in line with the Group’s policies and subject to individual assessment and provisioning for expected credit losses by the Group’s recovery functions. Restructured loans that defaulted again within 12 months from the last restructuring remain impaired or are impaired if they were considered non-impaired at the time of the subsequent default. Current-period estimate of expected credit losses The estimation and application of forward-looking information requires quantitative analysis and significant judgement. The Group’s estimation of expected credit losses is based on a discounted probability-weighted estimate that considers three future macroeconomic scenarios to capture the point of non-linearity of losses: a baseline scenario, an upside scenario and a downside scenario. The baseline scenario represents the most likely outcome in line with the Group’s global chief investment office view. The two other scenarios represent more optimistic and more pessimistic outcomes with the downside scenario being more severe than the upside scenario. Under a more usual economic environment with projected continued economic expansion, scenarios are probability-weighted according to the Group’s best estimate of their relative likelihood based on historical frequency, an assessment of the current business and credit cycles as well as MEFs, such as GDP, unemployment rates and property prices. For extreme and statistically rare events which cannot be adequately reflected in CECL models, such as the current effects of the COVID-19 pandemic on the global economy, the extreme event becomes the baseline scenario and overlays based on expert judgment are applied in response to such exceptional circumstances. The scenario design team within the Group’s Enterprise Strategic Risk (ESR) function determines the MEFs and market projections that are relevant for the Group’s three scenarios across the global credit portfolio. The scenario design team formulates the baseline scenario projections used for the CECL calculation from the Group’s global chief investment office in-house economic research forecasts and, where deemed appropriate, from external sources such as the Bloomberg consensus of economist forecasts, forecasts from major central banks, nonpartisan think tanks and multilateral institutions, such as the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD) and the World Bank. For factors where no in-house or credible external forecasts are available, an internal model is used to calibrate the baseline projections. The downside and upside scenarios are derived from these baseline projections. All three scenario projections are subject to a review and challenge process. Any feedback from the review and challenge process is incorporated into the scenario projections by the ESR scenario design team. The CECL scenario design working group is the governance forum. It performs an additional review and challenge and subsequently approves the MEFs and related market projections as well as the occurrence probability weights that are allocated to the baseline, downside and upside scenarios. MEFs and related market projections The key MEFs used in each of the economic scenarios for the calculation of the expected credit losses include, but are not limited to, regional GDP, unemployment rates, interest rates, housing prices and commodity prices. These MEFs have been selected based on the portfolios that are most material to the estimation of CECL or in terms of CECL contribution from a longer term perspective. The following changes to the MEF calibrations were driven by the impact of the COVID-19 crisis on the global economy and led to increased CECL provisions. 1Q20 GDP data from the US, the eurozone and Switzerland confirmed the severe impact of COVID-19 induced lockdowns on economic activity. As a result, the Group’s global chief investment office economic research department also revised its projections for GDP in the US, the eurozone and Switzerland to reflect a collapse in economic activity in 2Q20, which was unprecedented since the Great Depression in the 1930s. The Group’s projections for the US unemployment rate in 2Q20 increased significantly compared to 1Q20, while the projections for developed economies and world industrial production decreased sharply. In addition, low oil prices in April and May led to significantly higher levels of oil market volatility for 2Q20 and the rest of 2020. Interest income attributable to passage of time For financial assets held at amortized cost, for which the Group measures expected credit losses based on the discounted cash flow methodology, the entire change in present value is reported as credit loss expense or reversal of credit loss expense. Loans held at amortized cost The Group’s loan portfolio is classified into two portfolio segments, consumer loans and corporate & institutional loans. The main risk characteristics are described by individual class of financing receivable for each of these portfolio segments: Consumer loans: ■ ■ ■ Corporate & institutional loans: ■ ■ ■ ■ Expected credit losses on impaired loans In addition to the triggers described further above, loans managed on the Swiss platform are reviewed depending on event-driven developments. All corporate and institutional loans are reviewed at least annually based on the borrower’s financial statements and any indications of difficulties they may experience. Loans that are not impaired, but which are of special concern due to changes in covenants, downgrades, negative financial news and other adverse developments, are either transferred to recovery management or included on a watch list. All loans on the watch list are reviewed at least quarterly to determine whether they should be released, remain on the watch list or be moved to recovery management. For loans in recovery management from the Swiss platform, larger positions are reviewed on a quarterly basis for any event-driven changes. Otherwise, these loans are reviewed at least annually. All loans in recovery management on international platforms are reviewed on at least a quarterly basis. Allowance for credit losses – loans held at amortized cost 2Q20 1Q20 2Q19 1 Corporate & Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 349 1,082 1,431 241 808 1,049 2 181 785 966 Current-period provision for expected credit losses 62 218 280 121 3 315 3 436 10 5 15 of which provisions for interest 4 16 0 16 5 4 9 – – – Gross write-offs (12) (24) (36) (12) (35) (47) (25) (87) (112) Recoveries 2 1 3 3 1 4 2 10 12 Net write-offs (10) (23) (33) (9) (34) (43) (23) (77) (100) Provisions for interest – – – – – – 3 7 10 Foreign currency translation impact and other adjustments, net (2) (7) (9) (4) (7) (11) 0 (9) (9) Balance at end of period 399 1,270 1,669 349 1,082 1,431 171 711 882 of which individually evaluated for impairment 313 586 899 237 540 777 130 446 576 of which collectively evaluated for impairment 86 684 770 112 542 654 41 265 306 6M20 6M19 1 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 241 808 1,049 2 187 715 902 Current-period provision for expected credit losses 183 533 716 22 68 90 of which provisions for interest 3 21 4 25 – – – Gross write-offs (24) (59) (83) (48) (93) (141) Recoveries 5 2 7 3 12 15 Net write-offs (19) (57) (76) (45) (81) (126) Provisions for interest – – – 5 16 21 Foreign currency translation impact and other adjustments, net (6) (14) (20) 2 (7) (5) Balance at end of period 399 1,270 1,669 171 711 882 1 Measured under the previous accounting guidance (incurred loss model). 2 Includes a net impact of CHF 103 million from the adoption of the new CECL guidance and the related election of the fair value option for certain loans on January 1, 2020, of which CHF 55 million is reflected in consumer loans and CHF 48 million in corporate & institutional loans. 3 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. 4 Represents the current-period net provision for accrued interest on non-accrual loans and lease financing transactions which is recognized as a reversal of interest income. Gross write-offs of CHF 36 million in 2Q20 compared to gross write-offs of CHF 47 million in 1Q20 and were primarily related to corporate & institutional loans in both quarters. In 2Q20, gross write-offs mainly included two positions in commodity trade finance, a write-off related to the sale of an impaired position in the oil and gas sector and a write-off related to the liquidation of collateral on a ship finance position in corporate & institutional loans. In 1Q20, gross write-offs were mainly related to a partial write-off of several loans in connection with the restructuring of a US security service company and the partial sale of a real estate investment trust in the UK in corporate & institutional loans. Purchases, reclassifications and sales – loans held at amortized cost 2Q20 1Q20 2Q19 Corporate & Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 21 643 664 0 685 685 0 472 472 Reclassifications from loans held-for-sale 2 0 4 4 0 0 0 0 10 10 Reclassifications to loans held-for-sale 3 0 528 528 0 460 460 0 555 555 Sales 3 0 558 558 0 422 422 0 491 491 6M20 6M19 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 21 1,328 1,349 0 977 977 Reclassifications from loans held-for-sale 2 0 4 4 0 11 11 Reclassifications to loans held-for-sale 3 0 988 988 0 1,748 1,748 Sales 3 0 980 980 0 1,606 1,606 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Other financial assets The Group’s other financial assets include certain balance sheet positions held at amortized cost, each representing its own portfolio segment; they have the following risk characteristics: ■ ■ ■ ■ Allowance for credit losses – other financial assets held at amortized cost 2Q20 1Q20 6M20 CHF million Balance at beginning of period 52 45 45 Current-period provision for expected credit losses 21 15 36 Gross write-offs (1) (8) (9) Recoveries 1 0 1 Net write-offs 0 (8) (8) Foreign currency translation impact and other adjustments, net (3) 0 (3) Balance at end of period 70 52 70 of which individually evaluated for impairment 20 15 20 of which collectively evaluated for impairment 50 37 50 Credit quality information Monitoring of credit quality and internal ratings – Overview The Group monitors the credit quality of financial assets held at amortized cost through its credit risk management framework, which provides for the consistent evaluation, measurement and management of credit risk across the Group. Assessment of credit risk exposures for internal risk estimates and risk-weighted assets are calculated based on PD, LGD and EAD models. > Refer to “Expected credit losses on non-impaired credit exposures” for further information on PD, LGD and EAD. The credit risk management framework incorporates the following core elements: ■ ■ ■ ■ The Group evaluates and assesses counterparties and clients to whom it has credit exposures, primarily using internal rating models. The Group uses these models to determine internal credit ratings which are intended to reflect the PD of each counterparty. For a majority of counterparties and clients, internal ratings are based on internally developed statistical models that have been backtested against internal experience and validated by a function independent of model development. Findings from backtesting serve as a key input for any future rating model developments. The Group’s internally developed statistical rating models are based on a combination of quantitative factors (e.g., financial fundamentals, such as balance sheet information for corporates and loan-to-value (LTV) ratio and the borrower’s income level for mortgage lending, and market data) and qualitative factors (e.g., credit histories from credit reporting bureaus and economic trends). For the remaining counterparties where statistical rating models are not used, internal credit ratings are assigned on the basis of a structured expert approach using a variety of inputs, such as peer analyses, industry comparisons, external ratings and research as well as the judgment of senior credit officers. In addition to counterparty ratings, Credit Risk Management also assesses the risk profile of individual transactions and assigns transaction ratings which reflect specific contractual terms such as seniority, security and collateral. Internal credit ratings may differ from external credit ratings, where available, and are subject to periodic review depending on exposure type, client segment, collateral or event-driven developments. The Group’s internal ratings are mapped to a PD band associated with each rating which is calibrated to historical default experience using internal data and external data sources. The Group’s internal rating bands are reviewed on an annual basis with reference to extended historical default data and are therefore based on stable long-run averages. Adjustments to PD bands are only made where significant deviations to existing values are detected. The last update was made in 2012 and since then no significant changes to the robust long-run averages have been detected. For the purpose of the credit quality disclosures included in these financial statements, an equivalent rating based on the Standard & Poor’s rating scale is assigned to the Group’s internal ratings based on the PD band associated with each rating. These internal ratings are used consistently across all classes of financial assets and are aggregated to the credit quality indicators investment grade and non-investment grade. The Group uses internal rating methodologies consistently for the purposes of approval, establishment and monitoring of credit limits and credit portfolio management, credit policy, management reporting, risk-adjusted performance measurement, economic risk capital measurement and allocation and financial accounting. A rigorous credit quality monitoring process is performed to provide for early identification of possible changes in the creditworthiness of clients and includes regular asset and collateral quality reviews, business and financial statement analysis and relevant economic and industry studies. Credit Risk Management maintains regularly updated watch lists and holds review meetings to re-assess counterparties that could be subject to adverse changes in creditworthiness. The review of the credit quality of clients and counterparties does not depend on the accounting treatment of the asset or commitment. > Refer to “Expected credit losses on impaired loans” for further information on credit monitoring. Credit quality of loans held at amortized cost The following table presents the Group’s carrying value of loans held at amortized cost by aggregated internal counterparty credit ratings investment grade and non-investment grade that are used as credit quality indicators for the purpose of this disclosure, by year of origination. Consumer loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 2Q20 (CHF million) Mortgages 2020 7,090 774 3 7,867 2019 15,143 1,693 11 16,847 2018 11,348 1,080 40 12,468 2017 8,208 976 80 9,264 2016 11,849 955 46 12,850 Prior years 45,659 3,490 202 49,351 Total term loans 99,297 8,968 382 108,647 Revolving loans 831 530 14 1,375 Total 100,128 9,498 396 110,022 Loans collateralized by securities 2020 1,548 814 105 2,467 2019 1,284 440 69 1,793 2018 745 231 170 1,146 2017 107 48 51 206 2016 196 215 0 411 Prior years 621 395 0 1,016 Total term loans 4,501 2,143 395 7,039 Revolving loans 1 39,158 2,676 111 41,945 Total 43,659 4,819 506 48,984 Consumer finance 2020 480 610 1 1,091 2019 663 701 13 1,377 2018 311 324 20 655 2017 129 193 19 341 2016 35 90 12 137 Prior years 28 129 47 204 Total term loans 1,646 2,047 112 3,805 Revolving loans 873 153 89 1,115 Total 2,519 2,200 201 4,920 Consumer – total 2020 9,118 2,198 109 11,425 2019 17,090 2,834 93 20,017 2018 12,404 1,635 230 14,269 2017 8,444 1,217 150 9,811 2016 12,080 1,260 58 13,398 Prior years 46,308 4,014 249 50,571 Total term loans 105,444 13,158 889 119,491 Revolving loans 40,862 3,359 214 44,435 Total 146,306 16,517 1,103 163,926 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 2Q20 (CHF million) Real estate 2020 2,597 1,399 0 3,996 2019 3,554 2,173 1 5,728 2018 2,514 1,230 132 3,876 2017 1,225 533 96 1,854 2016 2,023 345 23 2,391 Prior years 7,444 1,446 26 8,916 Total term loans 19,357 7,126 278 26,761 Revolving loans 1,224 332 32 1,588 Total 20,581 7,458 310 28,349 Commercial and industrial loans 2020 5,408 8,192 79 13,679 2019 5,561 8,271 304 14,136 2018 2,422 5,350 226 7,998 2017 1,448 2,496 46 3,990 2016 1,285 1,554 29 2,868 Prior years 3,994 4,577 227 8,798 Total term loans 20,118 30,440 911 51,469 Revolving loans 11,187 11,029 558 22,774 Total 31,305 41,469 1,469 74,243 Financial institutions 2020 2,037 420 0 2,457 2019 2,478 326 41 2,845 2018 1,454 442 1 1,897 2017 105 110 0 215 2016 44 107 20 171 Prior years 336 22 3 361 Total term loans 6,454 1,427 65 7,946 Revolving loans 6,500 696 1 7,197 Total 12,954 2,123 66 15,143 Governments and public institutions 2020 44 12 0 56 2019 137 30 0 167 2018 81 0 0 81 2017 36 0 0 36 2016 271 1 0 272 Prior years 547 28 0 575 Total term loans 1,116 71 0 1,187 Revolving loans 14 0 0 14 Total 1,130 71 0 1,201 Corporate & institutional – total 2020 10,086 10,023 79 20,188 2019 11,730 10,800 346 22,876 2018 6,471 7,022 359 13,852 2017 2,814 3,139 142 6,095 2016 3,623 2,007 72 5,702 Prior years 12,321 6,073 256 18,650 Total term loans 47,045 39,064 1,254 87,363 Revolving loans 18,925 12,057 591 31,573 Total 65,970 51,121 1,845 118,936 Total loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 2Q20 (CHF million) Loans held at amortized cost – total 2020 19,204 12,221 188 31,613 2019 28,820 13,634 439 42,893 2018 18,875 8,657 589 28,121 2017 11,258 4,356 292 15,906 2016 15,703 3,267 130 19,100 Prior years 58,629 10,087 505 69,221 Total term loans 152,489 52,222 2,143 206,854 Revolving loans 59,787 15,416 805 76,008 Total 212,276 67,638 2,948 282,862 1 Value of collateral 2 192,133 54,266 2,258 248,657 1 Excludes accrued interest on loans held at amortized cost of CHF 453 million. 2 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Group's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. 4Q19 Gross loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 4Q19 (CHF million) Mortgages 1 99,677 9,629 365 109,671 Loans collateralized by securities 1 50,766 5,531 128 56,425 Consumer finance 1,527 2,677 167 4,371 Consumer 151,970 17,837 660 170,467 Real estate 20,524 7,674 125 28,323 Commercial and industrial loans 1 30,090 38,522 1,108 69,720 Financial institutions 13,267 2,122 47 15,436 Governments and public institutions 1,166 67 0 1,233 Corporate & institutional 65,047 48,385 1,280 114,712 Gross loans held at amortized cost 217,017 66,222 1,940 285,179 Value of collateral 2 200,521 54,543 1,378 256,442 1 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. 2 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Group's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. Value of collateral In the Group’s private banking, corporate and institutional businesses, all collateral values for loans are regularly reviewed according to the Group’s risk management policies and directives, with maximum review periods determined by collateral type, market liquidity and market transparency. For example, traded securities are revalued on a daily basis and property values are appraised over a period of more than one year considering the characteristics of the property, current developments in the relevant real estate market and the current level of credit exposure to the borrower. If the credit exposure to a borrower has changed significantly, in volatile markets or in times of increasing general market risk, collateral values may be appraised more frequently. Management judgment is applied in assessing whether markets are volatile or general market risk has increased to a degree that warrants a more frequent update of collateral values. Movements in monitored risk metrics that are statistically different compared to historical experience are considered in addition to analysis of externally-provided forecasts, scenario techniques and macro-economic research. For impaired loans, the fair value of collateral is determined within 90 days of the date the impairment was identified and thereafter regularly revalued by Group credit risk management within the impairment review process. In the Group’s investment banking businesses, collateral-dependent loans are appraised on at least an annual basis, or wh |
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Financial instruments measured at amortized cost and credit losses | 17 Financial instruments measured at amortized cost and credit losses > Refer to “Note 18 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q20 for further information. Overview of financial instruments measured at amortized cost – by balance sheet position 1 Allowance Net 6M20 (CHF million) Cash and due from banks 130,927 (3) 130,924 Interest-bearing deposits with banks 1,182 2 (6) 1,176 Securities purchased under resale agreements and securities borrowing transactions 26,442 0 26,442 Debt securities held-to-maturity 95 0 95 Loans 290,364 2,3 (1,668) 288,696 Brokerage receivables 44,289 2 0 44,289 Other assets 15,112 (54) 15,058 Total 508,411 (1,731) 506,680 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest for credit losses in the total amount of CHF 490 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 2 million relates to interest-bearing deposits with banks, CHF 453 million to loans and CHF 35 million to brokerage receivables. These accrued interest balances are reported in other assets. 3 Includes endangered interest of CHF 91 million on non-accrual loans which are reported as part of the loans' amortized cost balance. Allowance for credit losses > Refer to “Note 18 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q20 and 1Q20 for further information on estimating expected credit losses in 6M20. Loans held at amortized cost Allowance for credit losses – loans held at amortized cost 6M20 6M19 1 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 241 807 1,048 2 187 714 901 Current-period provision for expected credit losses 183 533 716 22 68 90 of which provisions for interest 3 21 4 25 – – – Gross write-offs (24) (59) (83) (48) (93) (141) Recoveries 5 2 7 3 12 15 Net write-offs (19) (57) (76) (45) (81) (126) Provisions for interest – – – 5 16 21 Foreign currency translation impact and other adjustments, net (6) (14) (20) 2 (7) (5) Balance at end of period 399 1,269 1,668 171 710 881 of which individually evaluated for impairment 313 585 898 130 445 575 of which collectively evaluated for impairment 86 684 770 41 265 306 1 Measured under the previous accounting guidance (incurred loss model). 2 Includes a net impact of CHF 103 million from the adoption of the new CECL guidance and the related election of the fair value option for certain loans on January 1, 2020, of which CHF 55 million is reflected in consumer loans and CHF 48 million in corporate & institutional loans. 3 Represents the current-period net provision for accrued interest on non-accrual loans and lease financing transactions which is recognized as a reversal of interest income. > Refer to “Note 18 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q20 and 1Q20 for further information on the Bank’s gross write-offs in 6M20. Purchases, reclassifications and sales – loans held at amortized cost 6M20 6M19 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 21 1,328 1,349 0 977 977 Reclassifications from loans held-for-sale 2 0 4 4 0 11 11 Reclassifications to loans held-for-sale 3 0 988 988 0 1,748 1,748 Sales 3 0 980 980 0 1,606 1,606 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Other financial assets Allowance for credit losses – other financial assets held at amortized cost 6M20 CHF million Balance at beginning of period 43 Current-period provision for expected credit losses 32 Gross write-offs (9) Recoveries 1 Net write-offs (8) Foreign currency translation impact and other adjustments, net (4) Balance at end of period 63 of which individually evaluated for impairment 19 of which collectively evaluated for impairment 44 Credit quality information Credit quality of loans held at amortized cost The following table presents the Bank’s carrying value of loans held at amortized cost by aggregated internal counterparty credit ratings investment grade and non-investment grade that are used as credit quality indicators for the purpose of this disclosure, by year of origination. Consumer loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 6M20 (CHF million) Mortgages 2020 7,090 774 3 7,867 2019 15,143 1,693 11 16,847 2018 11,348 1,080 40 12,468 2017 8,208 976 80 9,264 2016 11,849 955 46 12,850 Prior years 45,659 3,490 202 49,351 Total term loans 99,297 8,968 382 108,647 Revolving loans 831 530 14 1,375 Total 100,128 9,498 396 110,022 Loans collateralized by securities 2020 1,548 814 105 2,467 2019 1,284 440 69 1,793 2018 745 231 170 1,146 2017 107 48 51 206 2016 196 215 0 411 Prior years 621 395 0 1,016 Total term loans 4,501 2,143 395 7,039 Revolving loans 1 39,158 2,676 111 41,945 Total 43,659 4,819 506 48,984 Consumer finance 2020 480 610 1 1,091 2019 663 701 13 1,377 2018 311 324 20 655 2017 129 193 19 341 2016 35 90 12 137 Prior years 28 129 47 204 Total term loans 1,646 2,047 112 3,805 Revolving loans 873 153 89 1,115 Total 2,519 2,200 201 4,920 Consumer – total 2020 9,118 2,198 109 11,425 2019 17,090 2,834 93 20,017 2018 12,404 1,635 230 14,269 2017 8,444 1,217 150 9,811 2016 12,080 1,260 58 13,398 Prior years 46,308 4,014 249 50,571 Total term loans 105,444 13,158 889 119,491 Revolving loans 40,862 3,359 214 44,435 Total 146,306 16,517 1,103 163,926 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 6M20 (CHF million) Real estate 2020 2,597 1,399 0 3,996 2019 3,554 2,173 1 5,728 2018 2,514 1,230 132 3,876 2017 1,225 533 96 1,854 2016 2,023 345 23 2,391 Prior years 7,444 1,446 26 8,916 Total term loans 19,357 7,126 278 26,761 Revolving loans 1,224 332 32 1,588 Total 20,581 7,458 310 28,349 Commercial and industrial loans 2020 5,408 8,192 79 13,679 2019 5,561 8,271 304 14,136 2018 2,422 5,350 226 7,998 2017 1,448 2,496 46 3,990 2016 1,285 1,554 29 2,868 Prior years 3,994 4,577 215 8,786 Total term loans 20,118 30,440 899 51,457 Revolving loans 11,187 11,029 558 22,774 Total 31,305 41,469 1,457 74,231 Financial institutions 2020 2,037 420 0 2,457 2019 2,478 326 41 2,845 2018 1,454 442 1 1,897 2017 105 110 0 215 2016 44 107 20 171 Prior years 336 22 3 361 Total term loans 6,454 1,427 65 7,946 Revolving loans 6,500 696 1 7,197 Total 12,954 2,123 66 15,143 Governments and public institutions 2020 44 12 0 56 2019 137 30 0 167 2018 81 0 0 81 2017 36 0 0 36 2016 271 1 0 272 Prior years 547 28 0 575 Total term loans 1,116 71 0 1,187 Revolving loans 14 0 0 14 Total 1,130 71 0 1,201 Corporate & institutional – total 2020 10,086 10,023 79 20,188 2019 11,730 10,800 346 22,876 2018 6,471 7,022 359 13,852 2017 2,814 3,139 142 6,095 2016 3,623 2,007 72 5,702 Prior years 12,321 6,073 244 18,638 Total term loans 47,045 39,064 1,242 87,351 Revolving loans 18,925 12,057 591 31,573 Total 65,970 51,121 1,833 118,924 Total loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 6M20 (CHF million) Loans held at amortized cost – total 2020 19,204 12,221 188 31,613 2019 28,820 13,634 439 42,893 2018 18,875 8,657 589 28,121 2017 11,258 4,356 292 15,906 2016 15,703 3,267 130 19,100 Prior years 58,629 10,087 493 69,209 Total term loans 152,489 52,222 2,131 206,842 Revolving loans 59,787 15,416 805 76,008 Total loans to third parties 212,276 67,638 2,936 282,850 Total loans to entities under common control 7,626 0 0 7,626 Total 219,902 67,638 2,936 290,476 1 Value of collateral 2 192,167 54,266 2,247 248,680 1 Excludes accrued interest on loans held at amortized cost of CHF 453 million. 2 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Group's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. 2019 Gross loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 2019 (CHF million) Mortgages 1 99,677 9,629 365 109,671 Loans collateralized by securities 1 50,766 5,531 128 56,425 Consumer finance 1,527 2,677 167 4,371 Consumer 151,970 17,837 660 170,467 Real estate 20,524 7,674 125 28,323 Commercial and industrial loans 1 30,703 38,522 1,096 70,321 Financial institutions 19,912 2,122 47 22,081 Governments and public institutions 1,166 67 0 1,233 Corporate & institutional 72,305 48,385 1,268 121,958 Gross loans held at amortized cost 224,275 66,222 1,928 292,425 Value of collateral 2 200,556 54,543 1,366 256,465 1 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. 2 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Group's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. Credit quality of other financial assets held at amortized cost The following table presents the Bank’s carrying value of other financial assets held at amortized cost by aggregated internal counterparty credit ratings investment grade and non-investment grade, by year of origination. Other financial assets held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 6M20 (CHF million) Other financial assets held at amortized cost 2019 0 95 0 95 2018 0 70 0 70 Total term positions 0 165 0 165 Revolving positions 0 961 0 961 Total 0 1,126 0 1,126 Includes primarily mortgage servicing advances and failed purchases. Past due financial assets Loans held at amortized cost – past due Current Past due Up to 31–60 61–90 More than 6M20 (CHF million) Mortgages 109,519 128 24 14 337 503 110,022 Loans collateralized by securities 48,563 42 0 4 375 421 48,984 Consumer finance 4,293 405 20 48 154 627 4,920 Consumer 162,375 575 44 66 866 1,551 163,926 Real estate 28,213 40 5 0 91 136 28,349 Commercial and industrial loans 72,525 585 232 199 690 1,706 74,231 Financial institutions 14,470 609 1 1 62 673 15,143 Governments and public institutions 1,190 11 0 0 0 11 1,201 Corporate & institutional 116,398 1,245 238 200 843 2,526 118,924 Total loans to third parties 278,773 1,820 282 266 1,709 4,077 282,850 Total loans to entities under common control 7,626 0 0 0 0 0 7,626 Total loans held at amortized cost 286,399 1,820 282 266 1,709 4,077 290,476 1 2019 (CHF million) Mortgages 2 109,279 83 16 9 284 392 109,671 Loans collateralized by securities 2 56,287 79 0 2 57 138 56,425 Consumer finance 3,826 283 61 43 158 545 4,371 Consumer 169,392 445 77 54 499 1,075 170,467 Real estate 28,094 95 10 2 122 229 28,323 Commercial and industrial loans 2 69,075 528 62 71 585 1,246 70,321 Financial institutions 21,945 85 1 3 47 136 22,081 Governments and public institutions 1,207 26 0 0 0 26 1,233 Corporate & institutional 120,321 734 73 76 754 1,637 121,958 Total loans held at amortized cost 289,713 1,179 150 130 1,253 2,712 292,425 1 Excludes accrued interest on loans held at amortized cost of CHF 453 million. 2 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. As of the end of 6M20, the Bank did not have any loans that were past due more than 90 days and still accruing interest. Also, the Bank did not have any other financial assets held at amortized cost that were past due. Non-accrual financial assets Non-accrual loans held at amortized cost 6M20 Amortized CHF million Mortgages 337 380 1 20 Loans collateralized by securities 122 377 3 75 Consumer finance 168 204 0 4 Consumer 627 961 4 99 Real estate 155 270 3 37 Commercial and industrial loans 670 966 21 41 Financial institutions 46 65 0 8 Corporate & institutional 871 1,301 24 86 Total loans held at amortized cost 1,498 2,262 28 185 Collateral-dependent financial assets > Refer to “Note 18 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q20 and 1Q20 for further information on the Bank’s collateral-dependent financial assets. Troubled debt restructurings and modifications Restructured financing receivables held at amortized cost 6M20 6M19 Recorded Recorded Recorded Recorded CHF million, except where indicated Mortgages 0 0 0 1 7 7 Loans collateralized by securities 2 116 116 0 0 0 Commercial and industrial loans 7 32 15 6 14 14 Total loans 9 148 131 7 21 21 Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring 6M20 6M19 Number of Recorded Number of Recorded CHF million, except where indicated Mortgages 0 0 1 13 Commercial and industrial loans 3 12 0 0 Total loans 3 12 1 13 In 6M20, the loan modifications of the Bank included waiver of claims, extended loan repayment terms, including postponed loan amortization and extended pay-back period or maturity date. |
Goodwill
Goodwill | 6 Months Ended |
Jun. 30, 2020 | |
Goodwill | 19 Goodwill Investment 1 Gross amount of goodwill (CHF million) Balance at beginning of period 602 1,462 2,231 3,174 1,014 8,495 Goodwill acquired during the year 0 0 122 0 0 122 Foreign currency translation impact (4) (19) (15) (5) (7) (50) Balance at end of period 598 1,443 2,338 3,169 1,007 8,567 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 598 1,443 1,566 450 619 4,676 6M20 Gross amount of goodwill (CHF million) Balance at beginning of period 607 1,494 2,248 3,176 1,017 8,554 Goodwill acquired during the year 0 9 122 0 0 131 Foreign currency translation impact (7) (30) (21) (7) (10) (75) Other (2) (30) (11) 0 0 (43) Balance at end of period 598 1,443 2,338 3,169 1,007 8,567 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 598 1,443 1,566 450 619 4,676 1 Gross amount of goodwill and accumulated impairment include CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. In accordance with US GAAP, the Group continually assesses whether or not there has been a triggering event requiring a review of goodwill. On July 30, 2020, the Group announced an updated strategy and related organizational changes, which included the introduction of a new segment structure with an effective date of August 1, 2020. Under the prior structure, the reporting units were Swiss Universal Bank – Private Clients, Swiss Universal Bank – Corporate & Institutional Banking, International Wealth Management – Private Banking, International Wealth Management – Asset Management, Asia Pacific – Wealth Management & Connected, Asia Pacific – Markets, Global Markets and Investment Banking & Capital Markets. As a result of the organizational changes, the Asia Pacific – Markets, Global Markets and Investment Banking & Capital Markets reporting units will be combined into one new reporting unit named Investment Bank. The anticipated announcement of the strategy and organizational changes represented a triggering event for goodwill impairment testing purposes and under US GAAP goodwill has to be tested for impairment before and immediately after a reorganization of reporting units. The goodwill impairment test performed was to evaluate whether or not a subsequent event for 2Q20 disclosure purposes had occurred rather than a test to determine if an impairment was required for June 2020. Based on this goodwill impairment analysis, the Group concluded that there would be no impairment necessary for its Global Markets, Investment Banking & Capital Markets and Asia Pacific - Markets reporting units under the current reporting structure as the estimated fair value of these reporting units exceeded their related carrying values by 11% 13% 6% The Group additionally considered the potential of impairment of the new reporting unit named Investment Bank. The estimated fair value of the reporting unit, based on pro-forma financial plans, substantially exceeds its related carrying value. The five-year strategic business plan used to derive the fair value included management’s assumptions as to when normalized market conditions would return as well as subsequent continued revenue growth. The approach for determining the carrying value and estimating the fair values of the reporting units was applied consistently for both the current reporting structure and the new reporting structure. The carrying value of each reporting unit for the purpose of the goodwill impairment test is determined by considering the reporting units’ risk-weighted assets usage, leverage ratio exposure, deferred tax assets, goodwill and intangible assets. Any residual equity, after considering the total of these elements, is allocated to the reporting units on a pro-rata basis. In estimating the fair value of its reporting units, the Group applied a combination of the market approach and income approach. Under the market approach, consideration was given to price to projected earnings multiples or price to book value multiples for similarly traded companies and prices paid in recent transactions that have occurred in its industry or in related industries. Under the income approach, a discount rate was applied that reflects the risk and uncertainty related to the reporting unit’s projected cash flows, which were determined from the Group’s financial plan. In determining the estimated fair value, the Group relied upon its latest five-year strategic business plan which included significant management assumptions and estimates based on its view of current and future economic conditions and regulatory changes. The Group engaged the services of an independent valuation specialist to assist in the valuation of the Asia Pacific – Markets, Global Markets and Investment Banking & Capital Markets reporting units under the current structure and the Investment Bank reporting unit under the new reporting structure as of June 30, 2020. The valuations were performed using a combination of the market approach and income approach. The results of the impairment evaluation of each reporting unit’s goodwill under the new reporting structure, in particular for the Investment Bank reporting unit, would be significantly impacted by adverse changes in the underlying parameters used in the valuation process. If actual outcomes or the future outlook adversely differ from management’s best estimates of the key economic assumptions and associated cash flows applied in the valuation of the reporting unit, the Group could potentially incur material impairment charges in the future. |
Bank | |
Goodwill | 18 Goodwill Investment 1 Gross amount of goodwill (CHF million) Balance at beginning of period 589 1,481 2,025 2,836 908 7,851 Goodwill acquired during the year 0 9 122 0 0 131 Foreign currency translation impact (7) (30) (20) (3) (9) (69) Other (2) (30) (11) 0 0 (43) Balance at end of period 580 1,430 2,116 2,833 899 7,870 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 580 1,430 1,344 114 511 3,979 1 Gross amount of goodwill and accumulated impairment include goodwill of CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. > Refer to “Note 19 – Goodwill” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 for further information. |
Other assets and other liabilit
Other assets and other liabilities | 6 Months Ended |
Jun. 30, 2020 | |
Other assets and other liabilities | 20 Other assets and other liabilities end of 2Q20 1Q20 4Q19 Other assets (CHF million) Cash collateral on derivative instruments 7,488 9,526 4,570 Cash collateral on non-derivative transactions 556 1,075 428 Derivative instruments used for hedging 173 198 183 Assets held-for-sale 7,460 9,886 8,971 of which loans 1 7,406 9,821 8,886 allowance for loans held-for-sale (8) (7) – of which real estate 2 29 33 38 of which long-lived assets 25 32 47 Premises, equipment and right-of-use assets 7,650 7,730 7,832 Assets held for separate accounts 106 106 111 Interest and fees receivable 4,493 5,175 4,688 Deferred tax assets 4,020 4,157 4,399 Prepaid expenses 658 643 431 of which cloud computing arrangement implementation costs 33 30 27 Failed purchases 1,836 1,725 1,643 Defined benefit pension and post-retirement plan assets 3,011 2,928 2,878 Other 3,695 4,132 3,475 Other assets 41,146 47,281 39,609 Other liabilities (CHF million) Cash collateral on derivative instruments 7,184 8,260 7,457 Cash collateral on non-derivative transactions 244 1,797 516 Derivative instruments used for hedging 15 40 48 Operating leases liabilities 2,911 3,023 3,213 Provisions 1,329 1,256 1,179 of which expected credit losses on off-balance sheet credit exposures 262 253 172 Liabilities held for separate accounts 106 106 111 Interest and fees payable 4,993 5,537 5,101 Current tax liabilities 573 621 678 Deferred tax liabilities 646 977 523 Failed sales 920 1,145 936 Defined benefit pension and post-retirement plan liabilities 436 443 455 Other 9,430 8,883 10,826 Other liabilities 28,787 32,088 31,043 1 Included as of the end of 2Q20, 1Q20 and 4Q19 were CHF 278 million, CHF 679 million and CHF 800 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 2Q20, 1Q20 and 4Q19, real estate held-for-sale included foreclosed or repossessed real estate of CHF 8 million, CHF 8 million and CHF 9 million, respectively, of which CHF 8 million, CHF 8 million and CHF 9 million, respectively were related to residential real estate. |
Bank | |
Other assets and other liabilities | 19 Other assets and other liabilities end of 6M20 2019 Other assets (CHF million) Cash collateral on derivative instruments 7,488 4,570 Cash collateral on non-derivative transactions 556 428 Derivative instruments used for hedging 173 183 Assets held-for-sale 7,460 8,971 of which loans 1 7,406 8,886 allowance for loans held-for-sale (8) 0 of which real estate 2 29 38 of which long-lived assets 25 47 Premises, equipment and right-of-use assets 6,483 6,652 Assets held for separate accounts 106 111 Interest and fees receivable 4,589 5,301 Deferred tax assets 3,959 4,337 Prepaid expenses 572 343 of which cloud computing arrangement implementation costs 27 21 Failed purchases 1,836 1,643 Defined benefit pension and post-retirement plan assets 987 1,067 Other 3,702 3,463 Other assets 37,911 37,069 Other liabilities (CHF million) Cash collateral on derivative instruments 7,184 7,457 Cash collateral on non-derivative transactions 244 516 Derivative instruments used for hedging 15 48 Operating leases liabilities 2,111 2,388 Provisions 1,319 1,171 of which expected credit losses on off-balance sheet credit exposures 262 172 Liabilities held for separate accounts 106 111 Interest and fees payable 5,128 5,690 Current tax liabilities 562 658 Deferred tax liabilities 238 167 Failed sales 920 936 Defined benefit pension and post-retirement plan liabilities 436 455 Other 9,547 10,809 Other liabilities 27,810 30,406 1 Included as of the end of 6M20 and 2019 were CHF 278 million and CHF 800 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 6M20 and 2019, real estate held-for-sale included foreclosed or repossessed real estate of CHF 8 million and CHF 9 million, respectively, of which CHF 8 million and CHF 9 million, respectively, were related to residential real estate. |
Long-term debt
Long-term debt | 6 Months Ended |
Jun. 30, 2020 | |
Long-term debt | 21 Long-term debt Long-term debt end of 2Q20 1Q20 4Q19 Long-term debt (CHF million) Senior 128,417 104,958 108,667 Subordinated 39,206 38,087 41,667 Non-recourse liabilities from consolidated VIEs 1,803 1,878 1,671 Long-term debt 169,426 144,923 152,005 of which reported at fair value 68,798 60,360 70,331 of which structured notes 47,398 40,171 49,435 Structured notes by product end of 2Q20 1Q20 4Q19 Structured notes by product (CHF million) Equity 29,180 24,864 31,666 Fixed income 14,295 11,590 13,558 Credit 3,409 3,311 3,734 Other 514 406 477 Total structured notes 47,398 40,171 49,435 |
Bank | |
Long-term debt | 20 Long-term debt Long-term debt end of 6M20 2019 Long-term debt (CHF million) Senior 98,787 88,307 Subordinated 67,964 61,022 Non-recourse liabilities from consolidated VIEs 1,803 1,671 Long-term debt 168,554 151,000 of which reported at fair value 67,959 69,406 of which structured notes 47,398 49,435 Structured notes by product end of 6M20 2019 Structured notes by product (CHF million) Equity 29,180 31,666 Fixed income 14,295 13,558 Credit 3,409 3,734 Other 514 477 Total structured notes 47,398 49,435 |
Accumulated other comprehensive
Accumulated other comprehensive income | 6 Months Ended |
Jun. 30, 2020 | |
Accumulated other comprehensive income | 22 Accumulated other comprehensive income and additional share information Accumulated other comprehensive income/(loss) 1 Gains/ 2Q20 (CHF million) Balance at beginning of period 253 (15,064) 28 (3,617) 570 1,578 (16,252) Increase/(decrease) 13 (450) (47) 0 0 (2,680) (3,164) Reclassification adjustments, included in net income/(loss) 5 17 29 73 (34) 22 112 Total increase/(decrease) 18 (433) (18) 73 (34) (2,658) (3,052) Balance at end of period 271 (15,497) 10 (3,544) 536 (1,080) (19,304) 1Q20 (CHF million) Balance at beginning of period 28 (14,469) 30 (3,690) 604 (2,772) (20,269) Increase/(decrease) 155 (595) (5) 0 0 4,273 3,828 Reclassification adjustments, included in net income/(loss) 70 0 3 73 (34) 77 189 Total increase/(decrease) 225 (595) (2) 73 (34) 4,350 4,017 Balance at end of period 253 (15,064) 28 (3,617) 570 1,578 (16,252) 2Q19 (CHF million) Balance at beginning of period (26) (13,245) 24 (3,956) 363 (2,033) (18,873) Increase/(decrease) 45 (589) 12 323 338 (312) (183) Increase/(decrease) due to equity method investments (3) 0 0 0 0 0 (3) Reclassification adjustments, included in net income/(loss) 1 0 0 63 (32) 81 113 Total increase/(decrease) 43 (589) 12 386 306 (231) (73) Balance at end of period 17 (13,834) 36 (3,570) 669 (2,264) (18,946) 6M20 (CHF million) Balance at beginning of period 28 (14,469) 30 (3,690) 604 (2,772) (20,269) Increase/(decrease) 168 (1,045) (52) 0 0 1,593 664 Reclassification adjustments, included in net income/(loss) 75 17 32 146 (68) 99 301 Total increase/(decrease) 243 (1,028) (20) 146 (68) 1,692 965 Balance at end of period 271 (15,497) 10 (3,544) 536 (1,080) (19,304) 6M19 (CHF million) Balance at beginning of period (72) (13,442) 10 (3,974) 387 (890) (17,981) Increase/(decrease) 92 (394) 26 323 338 (1,463) (1,078) Increase/(decrease) due to equity method investments (7) 0 0 0 0 0 (7) Reclassification adjustments, included in net income/(loss) 4 2 0 123 (56) 111 184 Cumulative effect of accounting changes, net of tax 0 0 0 (42) 0 (22) (64) Total increase/(decrease) 89 (392) 26 404 282 (1,374) (965) Balance at end of period 17 (13,834) 36 (3,570) 669 (2,264) (18,946) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 2Q20, 1Q20, 2Q19, 6M20 and 6M19. Details of significant reclassification adjustments in 2Q20 1Q20 2Q19 6M20 6M19 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 17 0 0 17 2 Actuarial gains/(losses) Amortization of recognized actuarial losses 1 89 90 80 179 156 Tax expense/(benefit) (16) (17) (17) (33) (33) Net of tax 73 73 63 146 123 Net prior service credit/(cost) Amortization of recognized prior service credit/(cost) 1 (41) (42) (41) (83) (71) Tax expense 7 8 9 15 15 Net of tax (34) (34) (32) (68) (56) 1 These components are included in the computation of total benefit costs. Refer to "Note 26 – Pension and other post-retirement benefits" for further information. Additional share information 2Q20 1Q20 2Q19 6M20 6M19 Common shares issued Balance at beginning of period 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 Balance at end of period 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 Treasury shares Balance at beginning of period (156,996,084) (119,761,811) (48,217,358) (119,761,811) (5,427,691) Sale of treasury shares 170,488,741 239,476,586 153,739,570 409,965,327 392,245,695 Repurchase of treasury shares (172,555,047) (280,063,390) (190,464,698) (452,618,437) (473,434,435) Share-based compensation 44,650,431 3,352,531 36,705,356 48,002,962 38,379,301 Balance at end of period (114,411,959) (156,996,084) (48,237,130) (114,411,959) (48,237,130) Common shares outstanding Balance at end of period 2,441,599,761 1 2,399,015,636 1 2,507,774,590 1 2,441,599,761 1 2,507,774,590 1 1 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,193,477 of these shares were reserved for capital instruments. |
Bank | |
Accumulated other comprehensive income | 21 Accumulated other comprehensive income Accumulated other comprehensive income/(loss) Unrealized 1 Gains/ 6M20 (CHF million) Balance at beginning of period 28 (14,560) 30 (417) (7) (2,620) (17,546) Increase/(decrease) 168 (1,015) (52) 0 0 1,515 616 Reclassification adjustments, included in net income/(loss) 75 17 32 7 0 99 230 Total increase/(decrease) 243 (998) (20) 7 0 1,614 846 Balance at end of period 271 (15,558) 10 (410) (7) (1,006) (16,700) 6M19 (CHF million) Balance at beginning of period (58) (13,573) 9 (350) (8) (860) (14,840) Increase/(decrease) 93 (384) 27 0 0 (1,349) (1,613) Reclassification adjustments, included in net income/(loss) 0 0 0 8 0 111 119 Cumulative effect of accounting changes, net of tax 0 0 0 (42) 0 (22) (64) Total increase/(decrease) 93 (384) 27 (34) 0 (1,260) (1,558) Balance at end of period 35 (13,957) 36 (384) (8) (2,120) (16,398) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 6M20 and 6M19. Details on significant reclassification adjustments in 6M20 6M19 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 17 0 Actuarial gains/(losses) Amortization of recognized actuarial losses 1 7 10 Tax expense/(benefit) 0 (2) Net of tax 7 8 1 These components are included in the computation of total benefit costs. Refer to "Note 25 – Pension and other post-retirement benefits" for further information. |
Offsetting of financial assets
Offsetting of financial assets and financial liabilities | 6 Months Ended |
Jun. 30, 2020 | |
Offsetting of financial assets and financial liabilities | 23 Offsetting of financial assets and financial liabilities The disclosures set out in the tables below include derivatives, reverse repurchase and repurchase agreements, and securities lending and borrowing transactions that: ■ ■ Similar agreements include derivative clearing agreements, global master repurchase agreements and global master securities lending agreements. Derivatives The Group transacts bilateral over-the-counter (OTC) derivatives (OTC derivatives) mainly under International Swaps and Derivatives Association (ISDA) Master Agreements and Swiss Master Agreements for OTC derivative instruments. These agreements provide for the net settlement of all transactions under the agreement through a single payment in the event of default or termination under the agreement. They allow the Group to offset balances from derivative assets and liabilities as well as the receivables and payables to related cash collateral transacted with the same counterparty. Collateral for OTC derivatives is received and provided in the form of cash and marketable securities. Such collateral may be subject to the standard industry terms of an ISDA Credit Support Annex. The terms of an ISDA Credit Support Annex provide that securities received or provided as collateral may be pledged or sold during the term of the transactions and must be returned upon maturity of the transaction. These terms also give each counterparty the right to terminate the related transactions upon the other counterparty’s failure to post collateral. Financial collateral received or pledged for OTC derivatives may also be subject to collateral agreements which restrict the use of financial collateral. For derivatives transacted with exchanges (exchange-traded derivatives) and central clearing counterparties (OTC-cleared derivatives), positive and negative replacement values (PRV/NRV) and related cash collateral may be offset if the terms of the rules and regulations governing these exchanges and central clearing counterparties permit such netting and offset. Where no such agreements or terms exist, fair values are recorded on a gross basis. Exchange-traded derivatives or OTC-cleared derivatives, which are fully margined and for which the daily margin payments constitute settlement of the outstanding exposure, are not included in the offsetting disclosures because they are not subject to offsetting due to the daily settlement. The daily margin payments, which are not settled until the next settlement cycle is conducted, are presented in brokerage receivables or brokerage payables. The notional amount for these daily settled derivatives is included in the fair value of derivative instruments table in “Note 26 – Derivatives and hedging activities”. Under US GAAP, the Group elected to account for substantially all financial instruments with an embedded derivative that is not considered clearly and closely related to the host contract at fair value. There is an exception for certain bifurcatable hybrid debt instruments which the Group did not elect to account for at fair value. However, these bifurcated embedded derivatives are generally not subject to enforceable master netting agreements and are not recorded as derivative instruments under trading assets and liabilities or other assets and other liabilities. Information on bifurcated embedded derivatives has therefore not been included in the offsetting disclosures. The following table presents the gross amount of derivatives subject to enforceable master netting agreements by contract and transaction type, the amount of offsetting, the amount of derivatives not subject to enforceable master netting agreements and the net amount presented in the consolidated balance sheets. Offsetting of derivatives 2Q20 4Q19 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 6.6 5.4 3.8 3.0 OTC 80.0 78.2 63.7 61.9 Exchange-traded 0.5 0.5 0.3 0.2 Interest rate products 87.1 84.1 67.8 65.1 OTC-cleared 0.2 0.3 0.1 0.2 OTC 24.0 26.9 21.0 25.4 Exchange-traded 0.0 0.0 0.0 0.0 Foreign exchange products 24.2 27.2 21.1 25.6 OTC 11.0 11.9 10.1 10.4 Exchange-traded 9.0 9.7 5.3 5.0 Equity/index-related products 20.0 21.6 15.4 15.4 OTC-cleared 0.7 0.6 2.8 3.0 OTC 5.0 5.8 3.1 4.0 Credit derivatives 5.7 6.4 5.9 7.0 OTC 1.9 1.0 1.2 0.5 Exchange-traded 0.1 0.1 0.0 0.0 Other products 1 2.0 1.1 1.2 0.5 OTC-cleared 7.5 6.3 6.7 6.2 OTC 121.9 123.8 99.1 102.2 Exchange-traded 9.6 10.3 5.6 5.2 Total gross derivatives subject to enforceable master netting agreements 139.0 140.4 111.4 113.6 Offsetting (CHF billion) OTC-cleared (6.7) (5.8) (6.0) (5.3) OTC (106.5) (114.9) (87.0) (93.6) Exchange-traded (9.0) (9.0) (4.9) (4.9) Offsetting (122.2) (129.7) (97.9) (103.8) of which counterparty netting (103.7) (103.7) (83.2) (83.2) of which cash collateral netting (18.5) (26.0) (14.7) (20.6) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.8 0.5 0.7 0.9 OTC 15.4 8.9 12.1 8.6 Exchange-traded 0.6 1.3 0.7 0.3 Total net derivatives subject to enforceable master netting agreements 16.8 10.7 13.5 9.8 Total derivatives not subject to enforceable master netting agreements 2 9.2 4.7 4.4 3.7 Total net derivatives presented in the consolidated balance sheets 26.0 15.4 17.9 13.5 of which recorded in trading assets and trading liabilities 25.8 15.4 17.7 13.5 of which recorded in other assets and other liabilities 0.2 0.0 0.2 0.0 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. Reverse repurchase and repurchase agreements and securities lending and borrowing transactions Reverse repurchase and repurchase agreements are generally covered by global master repurchase agreements. In certain situations, for example, in the event of default, all contracts under the agreements are terminated and are settled net in one single payment. Global master repurchase agreements also include payment or settlement netting provisions in the normal course of business that state that all amounts in the same currency payable by each party to the other under any transaction or otherwise under the global master repurchase agreement on the same date shall be set off. Transactions under such agreements are netted in the consolidated balance sheets if they are with the same counterparty, have the same maturity date, settle through the same clearing institution and are subject to the same enforceable master netting agreement. The amounts offset are measured on the same basis as the underlying transaction (i.e., on an accrual basis or fair value basis). Securities lending and borrowing transactions are generally executed under global master securities lending agreements with netting terms similar to ISDA Master Agreements. In certain situations, for example in the event of default, all contracts under the agreement are terminated and are settled net in one single payment. Transactions under these agreements are netted in the consolidated balance sheets if they meet the same right of offset criteria as for reverse repurchase and repurchase agreements. In general, most securities lending and borrowing transactions do not meet the criterion of having the same settlement date specified at inception of the transaction, and therefore they are not eligible for netting in the consolidated balance sheets. However, securities lending and borrowing transactions with explicit maturity dates may be eligible for netting in the consolidated balance sheets. Reverse repurchase and repurchase agreements are collateralized principally by government securities, money market instruments and corporate bonds and have terms ranging from overnight to a longer or unspecified period of time. In the event of counterparty default, the reverse repurchase agreement or securities lending agreement provides the Group with the right to liquidate the collateral held. As is the case in the Group’s normal course of business, a significant portion of the collateral received that may be sold or repledged was sold or repledged as of the end of 2Q20 and 4Q19. In certain circumstances, financial collateral received may be restricted during the term of the agreement (e.g., in tri-party arrangements). The following table presents the gross amount of securities purchased under resale agreements and securities borrowing transactions subject to enforceable master netting agreements, the amount of offsetting, the amount of securities purchased under resale agreements and securities borrowing transactions not subject to enforceable master netting agreements and the net amount presented in the consolidated balance sheets. Offsetting of securities purchased under resale agreements and securities borrowing transactions 2Q20 4Q19 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 79.4 (11.9) 67.5 80.6 (10.9) 69.7 Securities borrowing transactions 14.9 (0.2) 14.7 12.3 (0.5) 11.8 Total subject to enforceable master netting agreements 94.3 (12.1) 82.2 92.9 (11.4) 81.5 Total not subject to enforceable master netting agreements 1 22.7 – 22.7 25.5 – 25.5 Total 117.0 (12.1) 104.9 2 118.4 (11.4) 107.0 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 78,448 million and CHF 85,556 million of the total net amount as of the end of 2Q20 and 4Q19, respectively, are reported at fair value. The following table presents the gross amount of securities sold under repurchase agreements and securities lending transactions subject to enforceable master netting agreements, the amount of offsetting, the amount of securities sold under repurchase agreements and securities lending transactions not subject to enforceable master netting agreements and the net amount presented in the consolidated balance sheets. Offsetting of securities sold under repurchase agreements and securities lending transactions 2Q20 4Q19 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 33.3 (12.1) 21.2 28.0 (11.4) 16.6 Securities lending transactions 4.9 0.0 4.9 5.5 0.0 5.5 Obligation to return securities received as collateral, at fair value 41.4 0.0 41.4 39.0 0.0 39.0 Total subject to enforceable master netting agreements 79.6 (12.1) 67.5 72.5 (11.4) 61.1 Total not subject to enforceable master netting agreements 1 5.6 – 5.6 2.0 – 2.0 Total 85.2 (12.1) 73.1 74.5 (11.4) 63.1 of which securities sold under repurchase agreements and securities lending transactions 42.7 (12.1) 30.6 2 34.3 (11.4) 22.9 2 of which obligation to return securities received as collateral, at fair value 42.5 0.0 42.5 40.2 0.0 40.2 1 Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 17,379 million and CHF 10,715 million of the total net amount as of the end of 2Q20 and 4Q19, respectively, are reported at fair value. The following table presents the net amount presented in the consolidated balance sheets of financial assets and liabilities subject to enforceable master netting agreements and the gross amount of financial instruments and cash collateral not offset in the consolidated balance sheets. The table excludes derivatives, reverse repurchase and repurchase agreements and securities lending and borrowing transactions not subject to enforceable master netting agreements where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. Net exposure reflects risk mitigation in the form of collateral. Amounts not offset in the consolidated balance sheets 2Q20 4Q19 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 16.8 5.6 0.1 11.1 13.5 4.4 0.0 9.1 Securities purchased under resale agreements 67.5 67.5 0.0 0.0 69.7 69.7 0.0 0.0 Securities borrowing transactions 14.7 14.3 0.0 0.4 11.8 11.2 0.0 0.6 Total financial assets subject to enforceable master netting agreements 99.0 87.4 0.1 11.5 95.0 85.3 0.0 9.7 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 10.7 2.1 0.0 8.6 9.8 1.7 0.0 8.1 Securities sold under repurchase agreements 21.2 21.2 0.0 0.0 16.6 16.6 0.0 0.0 Securities lending transactions 4.9 4.4 0.0 0.5 5.5 4.5 0.0 1.0 Obligation to return securities received as collateral, at fair value 41.4 35.3 0.0 6.1 39.0 33.0 0.0 6.0 Total financial liabilities subject to enforceable master netting agreements 78.2 63.0 0.0 15.2 70.9 55.8 0.0 15.1 1 The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included. Net exposure is subject to further credit mitigation through the transfer of the exposure to other market counterparties by the use of CDS and credit insurance contracts. Therefore, the net exposure presented in the table above is not representative of the Group’s counterparty exposure. |
Bank | |
Offsetting of financial assets and financial liabilities | 22 Offsetting of financial assets and financial liabilities > Refer to “Note 23 – Offsetting of financial assets and financial liabilities” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 for further information. Offsetting of derivatives 6M20 2019 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 6.6 5.4 3.9 3.0 OTC 80.0 78.3 63.6 61.9 Exchange-traded 0.5 0.5 0.3 0.2 Interest rate products 87.1 84.2 67.8 65.1 OTC-cleared 0.2 0.3 0.1 0.2 OTC 24.0 26.8 21.0 25.4 Foreign exchange products 24.2 27.1 21.1 25.6 OTC 11.0 11.9 10.1 10.4 Exchange-traded 9.0 9.7 5.3 5.0 Equity/index-related products 20.0 21.6 15.4 15.4 OTC-cleared 0.7 0.6 2.8 3.0 OTC 5.0 5.8 3.1 4.0 Credit derivatives 5.7 6.4 5.9 7.0 OTC 1.9 1.0 1.2 0.5 Exchange-traded 0.1 0.1 0.0 0.0 Other products 1 2.0 1.1 1.2 0.5 OTC-cleared 7.5 6.3 6.8 6.2 OTC 121.9 123.8 99.0 102.2 Exchange-traded 9.6 10.3 5.6 5.2 Total gross derivatives subject to enforceable master netting agreements 139.0 140.4 111.4 113.6 Offsetting (CHF billion) OTC-cleared (6.7) (5.8) (6.0) (5.3) OTC (106.5) (114.9) (87.0) (93.6) Exchange-traded (9.0) (9.0) (4.9) (4.9) Offsetting (122.2) (129.7) (97.9) (103.8) of which counterparty netting (103.6) (103.6) (83.2) (83.2) of which cash collateral netting (18.6) (26.1) (14.7) (20.6) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.8 0.5 0.8 0.9 OTC 15.4 8.9 12.0 8.6 Exchange-traded 0.6 1.3 0.7 0.3 Total net derivatives subject to enforceable master netting agreements 16.8 10.7 13.5 9.8 Total derivatives not subject to enforceable master netting agreements 2 9.2 4.7 4.4 3.7 Total net derivatives presented in the consolidated balance sheets 26.0 15.4 17.9 13.5 of which recorded in trading assets and trading liabilities 25.8 15.4 17.7 13.5 of which recorded in other assets and other liabilities 0.2 0.0 0.2 0.0 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. Offsetting of securities purchased under resale agreements and securities borrowing transactions 6M20 2019 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 79.4 (11.9) 67.5 80.6 (10.9) 69.7 Securities borrowing transactions 14.9 (0.2) 14.7 12.3 (0.5) 11.8 Total subject to enforceable master netting agreements 94.3 (12.1) 82.2 92.9 (11.4) 81.5 Total not subject to enforceable master netting agreements 1 22.7 – 22.7 25.5 – 25.5 Total 117.0 (12.1) 104.9 2 118.4 (11.4) 107.0 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 78,448 million and CHF 85,556 million of the total net amount as of the end of 6M20 and 2019, respectively, are reported at fair value. Offsetting of securities sold under repurchase agreements and securities lending transactions 6M20 2019 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 33.4 (12.1) 21.3 28.1 (11.4) 16.7 Securities lending transactions 4.9 0.0 4.9 5.5 0.0 5.5 Obligation to return securities received as collateral, at fair value 41.4 0.0 41.4 39.0 0.0 39.0 Total subject to enforceable master netting agreements 79.7 (12.1) 67.6 72.6 (11.4) 61.2 Total not subject to enforceable master netting agreements 1 5.6 – 5.6 2.0 – 2.0 Total 85.3 (12.1) 73.2 74.6 (11.4) 63.2 of which securities sold under repurchase agreements and securities lending transactions 42.8 (12.1) 30.7 2 34.4 (11.4) 23.0 2 of which obligation to return securities received as collateral, at fair value 42.5 0.0 42.5 40.2 0.0 40.2 1 Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 17,473 million and CHF 10,823 million of the total net amount as of the end of 6M20 and 2019, respectively, are reported at fair value. Amounts not offset in the consolidated balance sheets 6M20 2019 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 16.8 5.6 0.1 11.1 13.5 4.4 0.0 9.1 Securities purchased under resale agreements 67.5 67.5 0.0 0.0 69.7 69.7 0.0 0.0 Securities borrowing transactions 14.7 14.3 0.0 0.4 11.8 11.2 0.0 0.6 Total financial assets subject to enforceable master netting agreements 99.0 87.4 0.1 11.5 95.0 85.3 0.0 9.7 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 10.7 2.1 0.0 8.6 9.8 1.7 0.0 8.1 Securities sold under repurchase agreements 21.3 21.3 0.0 0.0 16.7 16.7 0.0 0.0 Securities lending transactions 4.9 4.4 0.0 0.5 5.5 4.5 0.0 1.0 Obligation to return securities received as collateral, at fair value 41.4 35.3 0.0 6.1 39.0 33.0 0.0 6.0 Total financial liabilities subject to enforceable master netting agreements 78.3 63.1 0.0 15.2 71.0 55.9 0.0 15.1 1 The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included. |
Tax
Tax | 6 Months Ended |
Jun. 30, 2020 | |
Tax | 24 Tax The 2Q20 income tax charge of CHF 391 million includes the impact of the continuous reassessment of the estimated annual effective tax rate as well as the impact of items that need to be recorded in the specific interim period in which they occur. Further details are outlined in the tax expense reconciliation below. Net deferred tax assets related to NOLs, net deferred tax assets on temporary differences and net deferred tax liabilities are presented in the following manner. Nettable gross deferred tax liabilities are allocated on a pro-rata basis to gross deferred tax assets on NOLs and gross deferred tax assets on temporary differences. This approach is aligned with the underlying treatment of netting gross deferred tax assets and liabilities under the Basel III framework. Valuation allowances have been allocated against such deferred tax assets on net operating losses first with any remainder allocated to such deferred tax assets on temporary differences. This presentation is considered the most appropriate disclosure given the underlying nature of the gross deferred tax balances. As of June 30, 2020, the Group had accumulated undistributed earnings from foreign subsidiaries of CHF 16.5 billion which are considered indefinitely reinvested. The Group would need to accrue and pay taxes on these undistributed earnings if such earnings were repatriated. No deferred tax liability was recorded in respect of those amounts, as these earnings are considered indefinitely reinvested. It is not practicable to estimate the amount of unrecognized deferred tax liabilities for these undistributed foreign earnings. The Group is currently subject to ongoing tax audits, inquiries and litigation with the tax authorities in a number of jurisdictions, including Brazil, the Netherlands, Germany, the US, the UK and Switzerland. Although the timing of completion is uncertain, it is reasonably possible that some of these will be resolved within 12 months of the reporting date. It is reasonably possible that there will be a decrease between zero and CHF 39 million in unrecognized tax benefits within 12 months of the reporting date. The Group remains open to examination from federal, state, provincial or similar local jurisdictions from the following years onward in these major countries: Brazil – 2014; the UK – 2012; Switzerland – 2013; the US – 2010; and the Netherlands – 2010. Effective tax rate in 2Q20 1Q20 2Q19 6M20 6M19 Effective tax rate (%) 25.2 (9.2) 28.0 10.2 28.7 Tax expense reconciliation in 2Q20 CHF million Income tax expense computed at the Swiss statutory tax rate of 20% 310 Increase/(decrease) in income taxes resulting from Foreign tax rate differential 7 Other non-deductible expenses 45 Changes in deferred tax valuation allowance (22) Lower taxed income (46) (Windfall tax benefits)/shortfall tax charges on share-based compensation 66 Other 31 Income tax expense/(benefit) 391 Foreign tax rate differential 2Q20 included a foreign tax charge of CHF 7 million, mainly driven by profits made in higher tax jurisdictions, such as the US, partially offset by profits made in lower tax jurisdictions, such as Singapore. Other non-deductible expenses 2Q20 included the impact of CHF 45 million relating to non-deductible interest expenses and non-deductible bank levy costs. Changes in deferred tax valuation allowance 2Q20 included the impact of the estimated current year earnings, resulting in a decrease in valuation allowances of CHF 22 million, mainly in respect of three of the Group’s operating entities in the UK. Lower taxed income 2Q20 primarily included a tax benefit of CHF 14 million related to the Pfandbriefbank equity investment revaluation gain in Switzerland, an impact of CHF 13 million of non-taxable dividend income and an impact of CHF 12 million related to non-taxable life insurance income. The remaining balance included various smaller items. Other 2Q20 included an income tax expense of CHF 31 million, which mainly reflected the tax impact of CHF 24 million relating to withholding taxes, CHF 21 million from non-deductible fines and penalties and CHF 18 million relating to transitional adjustments arising on the first adoption of IFRS 9 for own credit movements. This was partially offset by a tax benefit of CHF 25 million relating to the beneficial earnings mix of one of the Group’s operating entities in Switzerland and prior years adjustments of CHF 5 million. The remaining balance included various smaller items. Net deferred tax assets end of 2Q20 1Q20 Net deferred tax assets (CHF million) Deferred tax assets 4,020 4,157 of which net operating losses 1,445 1,505 of which deductible temporary differences 2,575 2,652 Deferred tax liabilities (646) (977) Net deferred tax assets 3,374 3,180 |
Bank | |
Tax | 23 Tax The 6M20 income tax expense of CHF 244 million includes the impact of the estimated annual effective tax rate as well as the impact of items that need to be recorded in the specific interim period in which they occur. Further details are outlined in the tax expense reconciliation below. Net deferred tax assets related to net operating losses, net deferred tax assets on temporary differences and net deferred tax liabilities are presented in the following manner. Nettable gross deferred tax liabilities are allocated on a pro-rata basis to gross deferred tax assets on net operating losses and gross deferred tax assets on temporary differences. This approach is aligned with the underlying treatment of netting gross deferred tax assets and liabilities under the Basel III framework. Valuation allowances have been allocated against such deferred tax assets on net operating losses first with any remainder allocated to such deferred tax assets on temporary differences. This presentation is considered the most appropriate disclosure given the underlying nature of the gross deferred tax balances. As of June 30, 2020, the Bank had accumulated undistributed earnings from foreign subsidiaries of CHF 15.9 billion which are considered indefinitely reinvested. The Bank would need to accrue and pay taxes on these undistributed earnings if such earnings were repatriated. No deferred tax liability was recorded in respect of those amounts, as these earnings are considered indefinitely reinvested. It is not practicable to estimate the amount of unrecognized deferred tax liabilities for these undistributed foreign earnings. The Bank is currently subject to ongoing tax audits, inquiries and litigation with the tax authorities in a number of jurisdictions, including Brazil, the Netherlands, Germany, the US, the UK and Switzerland. Although the timing of completion is uncertain, it is reasonably possible that some of these will be resolved within 12 months of the reporting date. It is reasonably possible that there will be a decrease between zero and CHF 39 million in unrecognized tax benefits within 12 months of the reporting date. The Bank remains open to examination from federal, state, provincial or similar local jurisdictions from the following years onward in these major countries: Brazil – 2014; the UK – 2012; Switzerland – 2013; the US – 2010; and the Netherlands – 2010. Effective tax rate in 6M20 6M19 Effective tax rate (%) 9.5 31.0 Tax expense reconciliation in 6M20 CHF million Income tax expense computed at the statutory tax rate of 20% 516 Increase/(decrease) in income taxes resulting from Foreign tax rate differential 4 Other non-deductible expenses 23 Changes in deferred tax valuation allowance (12) Lower taxed income (84) (Windfall tax benefits)/shortfall tax charges on share-based compensation 70 Other (273) Income tax expense 244 Foreign tax rate differential 6M20 included a foreign tax expense of CHF 4 million, mainly driven by profits made in higher tax jurisdictions, such as the UK, partially offset by profits in lower tax jurisdictions, such as Singapore. Other non-deductible expenses 6M20 primarily included CHF 33 million relating to non-deductible expenses, a net benefit of CHF 11 million due to non-deductible interest expenses (including the impact of previously unrecognized tax benefits of CHF 157 million relating to the resolution of interest cost deductibility with and between international tax authorities) and non-deductible bank levy costs. The remaining balance included various smaller items. Changes in deferred tax valuation allowance 6M20 included the impact of the estimated current year earnings, resulting in a decrease of valuation allowances of CHF 17 million mainly in respect of one of the Bank’s operating entities in the UK and Japan and an increase of valuation allowances of CHF 5 million mainly in respect of one of the Bank’s operating entities in Germany. Lower taxed income 6M20 primarily included the impacts of CHF 31 million related to non-taxable life insurance income, CHF 26 million related to the Pfandbriefbank equity investment revaluation gain in Switzerland and the completed transfer of the InvestLab fund platform to Allfunds Group, CHF 22 million related to non-taxable dividend income and non-taxable offshore results of CHF 5 million. Other 6M20 included a tax benefit of CHF 273 million, which mainly reflected the impact of the re-assessment of the US base erosion and anti-abuse tax (BEAT) provision for 2019 of CHF 180 million and the impact from a change in US tax rules relating to federal net operating losses (NOLs) where federal NOLs generated in tax years 2018, 2019 or 2020 can be carried back for five-years instead of no carry back before and also the deductible interest expense limitations for the years 2019 and 2020 have been increased from 30% to 50% of adjusted taxable income for the year, which in aggregate resulted in a benefit of CHF 141 million. It also included a tax benefit of CHF 68 million relating to the beneficial earnings mix of one of the Bank’s operating entities in Switzerland. This was partially offset by a tax charge of CHF 44 million relating to the tax impact of transitional adjustments arising on the first adoption of IFRS 9 for own credit movements, CHF 38 million relating to withholding taxes, CHF 21 million relating to uncertain tax positions, CHF 21 million relating to the impact of a prior year adjustment and CHF 9 million relating to the current year BEAT provision. The remaining balance included various smaller items. The US tax reform enacted in December 2017 introduced the BEAT tax regime, effective as of January 1, 2018, for which final regulations were issued by the US Department of Treasury on December 2, 2019. Following the publication of the 2019 financial results, Credit Suisse continued its analysis of the final regulations, resulting in a revision to the technical application of the prior BEAT estimate. This new information was not available or reasonably knowable at the time of the publication of the 2019 financial statements and resulted in a change of accounting estimate reflected in 6M20. Net deferred tax assets end of 6M20 2019 Net deferred tax assets (CHF million) Deferred tax assets 3,959 4,337 of which net operating losses 1,410 1,437 of which deductible temporary differences 2,549 2,900 Deferred tax liabilities (238) (167) Net deferred tax assets 3,721 4,170 |
Employee deferred compensation
Employee deferred compensation | 6 Months Ended |
Jun. 30, 2020 | |
Employee deferred compensation | 25 Employee deferred compensation The Group’s current and previous deferred compensation plans include share awards, performance share awards, Contingent Capital Awards (CCA), deferred cash awards and retention awards. > Refer to “Note 29 – Employee deferred compensation” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information. The following tables show the compensation expense for deferred compensation awards recognized in the consolidated statements of operations, the estimated unrecognized expense for deferred compensation awards granted in 2Q20 and prior periods and the remaining requisite service period over which the unrecognized expense will be recognized. The estimated unrecognized compensation expense was based on the fair value of each award on the grant date and included the current estimated outcome of relevant performance criteria and estimated future forfeitures, but no estimate for future mark-to-market adjustments. Deferred compensation expense in 2Q20 1Q20 2Q19 6M20 6M19 Deferred compensation expense (CHF million) Share awards 144 155 148 1 299 298 1 Performance share awards 120 113 122 233 230 Contingent Capital Awards 100 (14) 83 86 160 Deferred cash awards 138 10 96 1 148 186 1 Retention awards 10 9 3 1 19 8 1 Total deferred compensation expense 512 273 452 785 882 1 Prior period has been reclassified to conform to the current presentation. Estimated unrecognized deferred compensation end of 2Q20 Estimated unrecognized compensation expense (CHF million) Share awards 756 Performance share awards 443 Contingent Capital Awards 289 Deferred cash awards 398 Retention Awards 45 Total 1,931 Aggregate remaining weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.2 2Q20 activity In 2Q20, the Group granted deferred cash and stock retention awards of CHF 6 million. These awards are expensed over the applicable vesting period from the grant date. Amortization of retention awards granted in 2Q20 and prior periods totaled CHF 10 million in 2Q20. Share-based award activity 2Q20 6M20 Performance Performance Share-based award activities Balance at beginning of period 166.3 122.1 110.5 72.4 Granted 6.7 0.0 68.2 50.9 Settled (40.4) (25.6) (45.2) (26.8) Forfeited (1.0) (0.5) (1.9) (0.5) Balance at end of period 131.6 96.0 131.6 96.0 of which vested 10.4 8.7 10.4 8.7 of which unvested 121.2 87.3 121.2 87.3 |
Bank | |
Employee deferred compensation | 24 Employee deferred compensation > Refer to “Note 25 – Employee deferred compensation” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 and “Note 28 – Employee deferred compensation” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for further information. Deferred compensation expense in 6M20 6M19 Deferred compensation expense (CHF million) Share awards 289 291 1 Performance share awards 220 223 Contingent Capital Awards 83 156 Deferred cash awards 143 168 1 Retention awards 19 8 1 Total deferred compensation expense 754 846 1 Prior period has been reclassifed to conform to the current presentation. Estimated unrecognized deferred compensation end of 6M20 Estimated unrecognized compensation expense (CHF million) Share awards 734 Performance share awards 424 Contingent Capital Awards 277 Deferred cash awards 377 Retention awards 45 Total 1,857 Weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.2 6M20 activity In 6M20, the Bank granted share awards, performance share awards, Contingent Capital Awards (CCA) and upfront cash awards as part of the 2019 deferred variable compensation. Expense recognition for these awards began in 6M20 and will continue over the remaining service or vesting period of each respective award. Share awards In 6M20, the Bank granted 63.2 million share awards at a weighted-average share price of CHF 10.71. Each share award granted entitles the holder of the award to receive one Group share, subject to service conditions. Share awards vest over three years with one third of the share awards vesting on each of the three anniversaries of the grant date (ratable vesting), with the exception of awards granted to individuals classified as risk managers or senior managers under the UK Prudential Regulatory Authority (PRA) Remuneration Code or similar regulations in other jurisdictions. Share awards granted to risk managers vest over five years with one fifth of the award vesting on each of the five anniversaries of the grant date, while share awards granted to senior managers vest over five years commencing on the third anniversary of the grant date, with one fifth of the award vesting on each of the third to seventh anniversaries of the grant date. Share awards are expensed over the service period of the awards. Performance share awards In 6M20, the Bank granted 48.9 million performance share awards at a weighted-average share price of CHF 10.66. Performance share awards are similar to share awards, except that the full balance of outstanding performance share awards, including those awarded in prior years, are subject to performance-based malus provisions. Contingent Capital Awards In 6M20, the Bank awarded CHF 257 million of CCA. CCA are scheduled to vest on the third anniversary of the grant date, other than those granted to individuals classified as risk managers or senior managers under the UK PRA Remuneration Code or similar regulations in other jurisdictions, where CCA vest on the fifth and seventh anniversaries of the grant date, respectively, and will be expensed over the vesting period. Deferred cash awards In 6M20, the Bank granted deferred fixed cash compensation of CHF 121 million to certain employees in the Americas. This compensation will be expensed in Global Markets, Investment Banking & Capital Markets and International Wealth Management over a three-year vesting period from the grant date. Amortization of deferred fixed cash compensation granted in 6M20 and prior periods totaled CHF 57 million, of which CHF 33 million was related to awards granted in 6M20. In 6M20, the Bank granted upfront cash awards of CHF 146 million to certain managing directors and directors in Investment Banking & Capital Markets and Asia Pacific. Amortization of upfront cash awards granted in 6M20 and prior periods totaled CHF 38 million, of which CHF 29 million was related to awards granted in 6M20. Retention awards In 6M20, the Bank granted deferred cash and stock retention awards of CHF 17 million. These awards are expensed over the applicable vesting period from the grant date. Amortization of retention awards granted in 6M20 and prior periods totaled CHF 19 million, of which CHF 2 million was related to awards granted in 6M20. Share-based award activity 6M20 Performance Share-based award activities Balance at beginning of period 101.9 69.7 Granted 63.2 48.9 Settled (42.7) (26.1) Forfeited (2.0) (0.5) Balance at end of period 120.4 92.0 of which vested 9.1 7.9 of which unvested 111.3 84.1 |
Pension and other post-retireme
Pension and other post-retirement benefits | 6 Months Ended |
Jun. 30, 2020 | |
Pension and other post-retirement benefits | 26 Pension and other post-retirement benefits The Group sponsors defined contribution pension plans, defined benefit pension plans and other post-retirement defined benefit plans. The Group contributed and recognized expenses of CHF 58 million, CHF 96 million, CHF 44 million, CHF 154 million and CHF 85 million, related to its defined contribution pension plans in 2Q20, 1Q20, 2Q19, 6M20 and 6M19, respectively. This includes contributions of CHF 20 million and CHF 53 million in 2Q20 and 1Q20, respectively, to the new Swiss defined contribution plan, which took effect January 1, 2020. > Refer to “Note 31 – Pension and other post-retirement benefits” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information. The Group expects to contribute CHF 323 million to the Swiss and international defined benefit plans and other post-retirement defined benefit plans in 2020. As of the end of 2Q20, CHF 167 million of contributions have been made. Components of net periodic benefit costs in 2Q20 1Q20 2Q19 6M20 6M19 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 55 54 68 109 135 Interest costs on benefit obligation 23 24 34 47 80 Expected return on plan assets (109) (110) (126) (219) (251) Amortization of recognized prior service cost/(credit) (41) (42) (41) (83) (71) Amortization of recognized actuarial losses 87 87 80 174 156 Settlement losses/(gains) 2 3 0 5 0 Special termination benefits 0 3 2 3 10 Net periodic benefit costs 17 19 17 36 59 Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses. |
Bank | |
Pension and other post-retirement benefits | 25 Pension and other post-retirement benefits > Refer to “Note 26 – Pension and other post-retirement benefits” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 and “Note 30 – Pension and other post-retirement benefits” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for further information. The Bank contributed and recognized expenses of CHF 264 million and CHF 248 million related to its defined contribution pension plans in 6M20 and 6M19, respectively. The Bank expects to contribute CHF 17 million to the international single-employer defined benefit pension plans and CHF 11 million to other post-retirement defined benefit plans in 2020. As of the end of 6M20, CHF 9 million and CHF 6 million of contributions had been made to the international single-employer and other post-retirement defined benefit pension plans, respectively. Components of net periodic benefit costs in 6M20 6M19 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 8 8 Interest costs on benefit obligation 37 50 Expected return on plan assets (44) (55) Amortization of recognized prior service cost/(credit) 1 0 Amortization of recognized actuarial losses 7 10 Net periodic benefit costs 9 13 Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses. |
Derivatives and hedging activit
Derivatives and hedging activities | 6 Months Ended |
Jun. 30, 2020 | |
Derivatives and hedging activities | 27 Derivatives and hedging activities > Refer to “Note 32 – Derivatives and hedging activities” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information. Fair value of derivative instruments The tables below present gross derivative replacement values by type of contract and balance sheet location and whether the derivative is used for trading purposes or in a qualifying hedging relationship. Notional amounts have also been provided as an indication of the volume of derivative activity within the Group. Information on bifurcated embedded derivatives has not been included in these tables. Under US GAAP, the Group elected to account for substantially all financial instruments with an embedded derivative that is not considered clearly and closely related to the host contract at fair value. > Refer to “Note 30 – Financial instruments” for further information. Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 7,009.8 2.9 2.7 0.0 0.0 0.0 Swaps 9,378.4 60.1 58.0 135.0 1.0 0.1 Options bought and sold (OTC) 1,267.9 23.9 23.8 0.0 0.0 0.0 Futures 299.4 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 165.1 0.5 0.5 0.0 0.0 0.0 Interest rate products 18,120.6 87.4 85.0 135.0 1.0 0.1 Forwards 1,064.6 8.3 9.0 13.9 0.1 0.0 Swaps 362.1 13.3 14.9 0.0 0.0 0.0 Options bought and sold (OTC) 314.2 3.5 4.0 0.0 0.0 0.0 Futures 8.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.5 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,750.2 25.1 27.9 13.9 0.1 0.0 Forwards 1.1 0.0 0.1 0.0 0.0 0.0 Swaps 154.7 8.4 5.9 0.0 0.0 0.0 Options bought and sold (OTC) 231.8 8.8 8.0 0.0 0.0 0.0 Futures 32.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 498.0 9.3 10.0 0.0 0.0 0.0 Equity/index-related products 917.9 26.5 24.0 0.0 0.0 0.0 Credit derivatives 2 570.9 6.1 6.7 0.0 0.0 0.0 Forwards 16.6 0.4 0.4 0.0 0.0 0.0 Swaps 9.8 1.1 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 21.2 0.4 0.4 0.0 0.0 0.0 Futures 16.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 3.5 0.1 0.1 0.0 0.0 0.0 Other products 3 68.0 2.0 1.4 0.0 0.0 0.0 Total derivative instruments 21,427.6 147.1 145.0 148.9 1.1 0.1 The notional amount, PRV and NRV (trading and hedging) was CHF 21,576.5 billion, CHF 148.2 billion and CHF 145.1 billion, respectively, as of June 30, 2020. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 6,226.5 0.9 0.9 0.0 0.0 0.0 Swaps 9,183.5 50.8 48.4 113.2 0.5 0.1 Options bought and sold (OTC) 1,355.4 16.3 16.4 0.0 0.0 0.0 Futures 264.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 103.4 0.3 0.2 0.0 0.0 0.0 Interest rate products 17,133.0 68.3 65.9 113.2 0.5 0.1 Forwards 1,073.5 8.0 9.1 14.1 0.1 0.1 Swaps 389.5 10.9 13.7 0.0 0.0 0.0 Options bought and sold (OTC) 270.8 3.0 3.5 0.0 0.0 0.0 Futures 9.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.1 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,743.0 21.9 26.3 14.1 0.1 0.1 Forwards 1.0 0.0 0.0 0.0 0.0 0.0 Swaps 175.2 4.3 4.6 0.0 0.0 0.0 Options bought and sold (OTC) 213.6 7.7 7.3 0.0 0.0 0.0 Futures 41.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 427.2 5.4 5.1 0.0 0.0 0.0 Equity/index-related products 858.2 17.4 17.0 0.0 0.0 0.0 Credit derivatives 2 538.1 6.2 7.2 0.0 0.0 0.0 Forwards 13.2 0.2 0.1 0.0 0.0 0.0 Swaps 11.6 1.0 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 15.5 0.2 0.1 0.0 0.0 0.0 Futures 14.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.7 0.0 0.0 0.0 0.0 0.0 Other products 3 56.8 1.4 0.7 0.0 0.0 0.0 Total derivative instruments 20,329.1 115.2 117.1 127.3 0.6 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 20,456.4 billion, CHF 115.8 billion and CHF 117.3 billion, respectively, as of December 31, 2019. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Netting of derivative instruments > Refer to “Derivatives” in Note 23 – Offsetting of financial assets and financial liabilities for further information on the netting of derivative instruments. Gains or (losses) on fair value hedges in 2Q20 1Q20 2Q19 6M20 6M19 Interest rate products (CHF million) Hedged items 1 (205) (2,169) (991) (2,374) (1,698) Derivatives designated as hedging instruments 1 212 2,014 937 2,226 1,580 The accrued interest on fair value hedges is recorded in net interest income and is excluded from this table. 1 Included in net interest income. Hedged items in fair value hedges 2Q20 4Q19 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets and liabilities (CHF billion) Net loans 18.3 0.2 0.6 15.2 0.1 0.7 Long-term debt 78.8 2.7 1.1 65.8 1.2 0.3 1 Relates to the cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to the cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. Cash flow hedges in 2Q20 1Q20 2Q19 6M20 6M19 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives 21 267 71 288 120 Gains/(losses) reclassified from AOCI into interest and dividend income 0 (42) 1 (42) 2 Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (5) (79) (10) (84) (7) Trading revenues 0 (30) 5 (30) 4 Other revenues 0 0 (2) 0 (4) Total other operating expenses (5) (6) (5) (11) (6) Gains/(losses) reclassified from AOCI into income (5) (36) (2) (41) (6) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 1 0 1 (4) 1 (7) 1 Related to the forward points of a foreign currency forward. As of the end of 2Q20, the maximum length of time over which the Group hedged its exposure to the variability in future cash flows for forecasted transactions, excluding those forecasted transactions related to the payment of variable interest on existing financial instruments, was 12 months. The net gain associated with cash flow hedges expected to be reclassified from AOCI within the next 12 months is CHF 117 million. Net investment hedges in 2Q20 1Q20 2Q19 6M20 6M19 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI (38) 519 9 481 (121) Gains/(losses) reclassified from the cumulative translation adjustments section of AOCI into other revenues 9 0 0 9 0 The Group includes all derivative instruments not included in hedge accounting relationships in its trading activities. > Refer to “Note 7 – Trading revenues” for gains and losses on trading activities by product type. Disclosures relating to contingent credit risk Certain of the Group’s derivative instruments contain provisions that require it to maintain a specified credit rating from each of the major credit rating agencies. If the ratings fall below the level specified in the contract, the counterparties to the agreements could request payment of additional collateral on those derivative instruments that are in a net liability position. Certain of the derivative contracts also provide for termination of the contract, generally upon a downgrade of either the Group or the counterparty. Such derivative contracts are reflected at close-out costs. The following table provides the Group’s current net exposure from contingent credit risk relating to derivative contracts with bilateral counterparties and SPEs that include credit support agreements, the related collateral posted and the additional collateral required in a one-notch, two-notch and a three-notch downgrade event, respectively. The table also includes derivative contracts with contingent credit risk features without credit support agreements that have accelerated termination event conditions. The current net exposure for derivative contracts with bilateral counterparties and contracts with accelerated termination event conditions is the aggregate fair value of derivative instruments that were in a net liability position. For SPEs, the current net exposure is the contractual amount that is used to determine the collateral payable in the event of a downgrade. The contractual amount could include both the NRV and a percentage of the notional value of the derivative. Contingent credit risk 2Q20 4Q19 Special Special Contingent credit risk (CHF billion) Current net exposure 3.4 0.0 0.5 3.9 3.1 0.0 0.3 3.4 Collateral posted 3.0 0.1 – 3.1 2.7 0.1 – 2.8 Impact of a one-notch downgrade event 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.1 Impact of a two-notch downgrade event 0.0 0.0 0.0 0.0 0.2 0.0 0.0 0.2 Impact of a three-notch downgrade event 0.6 0.1 0.2 0.9 0.7 0.1 0.1 0.9 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. Credit derivatives > Refer to “Note 32 – Derivatives and hedging activities” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information on credit derivatives. Credit protection sold/purchased The following tables do not include all credit derivatives and differ from the credit derivatives in the “Fair value of derivative instruments” tables. This is due to the exclusion of certain credit derivative instruments under US GAAP, which defines a credit derivative as a derivative instrument (a) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (b) that exposes the seller to potential loss from credit risk-related events specified in the contract. Total return swaps (TRS) of CHF 15.8 billion and CHF 16.7 billion as of the end of 2Q20 and 4Q19 were also excluded because a TRS does not expose the seller to potential loss from credit risk-related events specified in the contract. A TRS only provides protection against a loss in asset value and not against additional amounts as a result of specific credit events. Credit protection sold/purchased 2Q20 4Q19 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (56.0) 49.6 (6.4) 14.2 0.2 (52.6) 47.9 (4.7) 11.5 0.5 Non-investment grade (31.0) 28.5 (2.5) 14.1 (0.4) (32.1) 29.5 (2.6) 16.1 0.9 Total single-name instruments (87.0) 78.1 (8.9) 28.3 (0.2) (84.7) 77.4 (7.3) 27.6 1.4 of which sovereign (14.5) 13.3 (1.2) 5.5 (0.1) (17.2) 15.4 (1.8) 4.1 0.0 of which non-sovereign (72.5) 64.8 (7.7) 22.8 (0.1) (67.5) 62.0 (5.5) 23.5 1.4 Multi-name instruments (CHF billion) Investment grade 2 (114.4) 111.2 (3.2) 37.4 (1.2) (109.5) 108.9 (0.6) 44.0 0.7 Non-investment grade (44.3) 39.7 (4.6) 14.7 3 (0.3) (27.7) 24.5 (3.2) 17.1 3 1.0 Total multi-name instruments (158.7) 150.9 (7.8) 52.1 (1.5) (137.2) 133.4 (3.8) 61.1 1.7 of which non-sovereign (158.7) 150.9 (7.8) 52.1 (1.5) (137.2) 133.4 (3.8) 61.1 1.7 Total instruments (CHF billion) Investment grade 2 (170.4) 160.8 (9.6) 51.6 (1.0) (162.1) 156.8 (5.3) 55.5 1.2 Non-investment grade (75.3) 68.2 (7.1) 28.8 (0.7) (59.8) 54.0 (5.8) 33.2 1.9 Total instruments (245.7) 229.0 (16.7) 80.4 (1.7) (221.9) 210.8 (11.1) 88.7 3.1 of which sovereign (14.5) 13.3 (1.2) 5.5 (0.1) (17.2) 15.4 (1.8) 4.1 0.0 of which non-sovereign (231.2) 215.7 (15.5) 74.9 (1.6) (204.7) 195.4 (9.3) 84.6 3.1 1 Represents credit protection purchased with identical underlyings and recoveries. 2 Based on internal ratings of BBB and above. 3 Includes synthetic securitized loan portfolios. Credit protection sold Credit protection sold is the maximum potential payout, which is based on the notional value of derivatives and represents the amount of future payments that the Group would be required to make as a result of credit risk-related events. Credit protection purchased Credit protection purchased represents those instruments where the underlying reference instrument is identical to the reference instrument of the credit protection sold. Other protection purchased In the normal course of business, the Group purchases protection to offset the risk of credit protection sold that may have similar, but not identical, reference instruments and may use similar, but not identical, products, which reduces the total credit derivative exposure. Other protection purchased is based on the notional value of the instruments. Fair value of credit protection sold The fair values of the credit protection sold give an indication of the amount of payment risk, as the negative fair values increase when the potential payment under the derivative contracts becomes more probable. The following table reconciles the notional amount of credit derivatives included in the table “Fair value of derivative instruments” to the table “Credit protection sold/purchased”. Credit derivatives end of 2Q20 4Q19 Credit derivatives (CHF billion) Credit protection sold 245.7 221.9 Credit protection purchased 229.0 210.8 Other protection purchased 80.4 88.7 Other instruments 1 15.8 16.7 Total credit derivatives 570.9 538.1 1 Consists of total return swaps and other derivative instruments. The segregation of the future payments by maturity range and underlying risk gives an indication of the current status of the potential for performance under the derivative contracts. Maturity of credit protection sold Maturity Maturity Maturity 2Q20 (CHF billion) Single-name instruments 18.7 63.2 5.1 87.0 Multi-name instruments 39.3 105.7 13.7 158.7 Total instruments 58.0 168.9 18.8 245.7 4Q19 (CHF billion) Single-name instruments 19.2 60.6 4.9 84.7 Multi-name instruments 41.9 79.8 15.5 137.2 Total instruments 61.1 140.4 20.4 221.9 |
Bank | |
Derivatives and hedging activities | 26 Derivatives and hedging activities > Refer to “Note 31 – Derivatives and hedging activities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for further information. Fair value of derivative instruments The tables below present gross derivative replacement values by type of contract and balance sheet location and whether the derivative is used for trading purposes or in a qualifying hedging relationship. Notional amounts have also been provided as an indication of the volume of derivative activity within the Bank. Information on bifurcated embedded derivatives has not been included in these tables. Under US GAAP, the Bank elected to account for substantially all financial instruments with an embedded derivative that is not considered clearly and closely related to the host contract at fair value. > Refer to “Note 29 – Financial instruments” for further information. Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 7,009.8 2.9 2.7 0.0 0.0 0.0 Swaps 9,379.3 60.1 58.1 135.0 1.0 0.1 Options bought and sold (OTC) 1,267.9 23.9 23.8 0.0 0.0 0.0 Futures 299.4 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 165.1 0.5 0.5 0.0 0.0 0.0 Interest rate products 18,121.5 87.4 85.1 135.0 1.0 0.1 Forwards 1,064.6 8.3 9.0 13.9 0.1 0.0 Swaps 362.1 13.3 14.9 0.0 0.0 0.0 Options bought and sold (OTC) 314.2 3.5 4.0 0.0 0.0 0.0 Futures 8.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.5 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,750.2 25.1 27.9 13.9 0.1 0.0 Forwards 1.1 0.0 0.1 0.0 0.0 0.0 Swaps 154.7 8.4 5.9 0.0 0.0 0.0 Options bought and sold (OTC) 231.8 8.8 8.0 0.0 0.0 0.0 Futures 32.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 498.0 9.3 10.0 0.0 0.0 0.0 Equity/index-related products 917.9 26.5 24.0 0.0 0.0 0.0 Credit derivatives 2 570.9 6.1 6.7 0.0 0.0 0.0 Forwards 16.6 0.4 0.4 0.0 0.0 0.0 Swaps 9.8 1.1 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 21.2 0.4 0.3 0.0 0.0 0.0 Futures 16.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 3.5 0.1 0.1 0.0 0.0 0.0 Other products 3 68.0 2.0 1.3 0.0 0.0 0.0 Total derivative instruments 21,428.5 147.1 145.0 148.9 1.1 0.1 The notional amount, PRV and NRV (trading and hedging) was CHF 21,577.4 billion, CHF 148.2 billion and CHF 145.1 billion, respectively, as of June 30, 2020. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 6,226.5 0.9 0.9 0.0 0.0 0.0 Swaps 9,184.5 50.8 48.4 113.2 0.5 0.1 Options bought and sold (OTC) 1,355.4 16.3 16.4 0.0 0.0 0.0 Futures 264.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 103.4 0.3 0.2 0.0 0.0 0.0 Interest rate products 17,134.0 68.3 65.9 113.2 0.5 0.1 Forwards 1,073.5 8.0 9.1 14.1 0.1 0.1 Swaps 389.5 10.9 13.7 0.0 0.0 0.0 Options bought and sold (OTC) 270.8 3.0 3.5 0.0 0.0 0.0 Futures 9.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.1 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,743.0 21.9 26.3 14.1 0.1 0.1 Forwards 1.0 0.0 0.0 0.0 0.0 0.0 Swaps 175.2 4.3 4.6 0.0 0.0 0.0 Options bought and sold (OTC) 213.6 7.7 7.3 0.0 0.0 0.0 Futures 41.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 427.2 5.4 5.1 0.0 0.0 0.0 Equity/index-related products 858.2 17.4 17.0 0.0 0.0 0.0 Credit derivatives 2 538.1 6.2 7.2 0.0 0.0 0.0 Forwards 13.2 0.2 0.1 0.0 0.0 0.0 Swaps 11.6 1.0 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 15.5 0.2 0.1 0.0 0.0 0.0 Futures 14.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.7 0.0 0.0 0.0 0.0 0.0 Other products 3 56.8 1.4 0.7 0.0 0.0 0.0 Total derivative instruments 20,330.1 115.2 117.1 127.3 0.6 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 20,457.4 billion, CHF 115.8 billion and CHF 117.3 billion, respectively, as of December 31, 2019. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Netting of derivative instruments > Refer to “Note 22 – Offsetting of financial assets and financial liabilities” for further information on the offsetting of derivative instruments. Gains or losses on fair value hedges in 6M20 6M19 Interest rate products (CHF million) Hedged items 1 (2,374) (1,698) Derivatives designated as hedging instruments 1 2,226 1,580 The accrued interest on fair value hedges is recorded in net interest income and is excluded from this table. 1 Included in net interest income. Hedged items in fair value hedges 6M20 2019 Hedged items Hedged items Carrying Hedging 1 Disconti- 2 Carrying Hedging 1 Disconti- 2 Assets and liabilities (CHF billion) Net loans 18.3 0.2 0.6 15.2 0.1 0.7 Long-term debt 78.8 2.7 1.1 65.8 1.2 0.3 1 Relates to the cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to the cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. Cash flow hedges in 6M20 6M19 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives 288 120 Gains/(losses) reclassified from AOCI into interest and dividend income (42) 2 Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (84) (1) Trading revenues (30) 4 Total other operating expenses (11) (6) Gains/(losses) reclassified from AOCI into income (41) (2) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 1 1 (7) As of the end of 6M20, the maximum length of time over which the Bank hedged its exposure to the variability in future cash flows for forecasted transactions, excluding those forecasted transactions related to the payment of variable interest on existing financial instruments, was 12 months. The net gain associated with cash flow hedges expected to be reclassified from accumulated other comprehensive income (AOCI) within the next 12 months was CHF 117 million. Net investment hedges in 6M20 6M19 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI 476 (119) Gains/(losses) reclassified from the cumulative translation adjustments section of AOCI into other revenues 9 0 The Bank includes all derivative instruments not included in hedge accounting relationships in its trading activities. > Refer to “Note 7 – Trading revenues” for gains and losses on trading activities by product type. Disclosures relating to contingent credit risk The following table provides the Bank’s current net exposure from contingent credit risk relating to derivative contracts with bilateral counterparties and special purpose entities (SPEs) that include credit support agreements, the related collateral posted and the additional collateral required in a one-notch, two-notch and a three-notch downgrade event, respectively. The table also includes derivative contracts with contingent credit risk features without credit support agreements that have accelerated termination event conditions. The current net exposure for derivative contracts with bilateral counterparties and contracts with accelerated termination event conditions is the aggregate fair value of derivative instruments that were in a net liability position. For SPEs, the current net exposure is the contractual amount that is used to determine the collateral payable in the event of a downgrade. The contractual amount could include both the NRV and a percentage of the notional value of the derivative. Contingent credit risk 6M20 2019 Special Special Contingent credit risk (CHF billion) Current net exposure 3.4 0.0 0.5 3.9 3.1 0.0 0.3 3.4 Collateral posted 3.0 0.1 – 3.1 2.7 0.1 – 2.8 Impact of a one-notch downgrade event 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.1 Impact of a two-notch downgrade event 0.0 0.0 0.0 0.0 0.2 0.0 0.0 0.2 Impact of a three-notch downgrade event 0.6 0.1 0.2 0.9 0.7 0.1 0.1 0.9 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. Credit derivatives > Refer to “Note 31 – Derivatives and hedging activities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for further information on credit derivatives. Credit protection sold/purchased The following tables do not include all credit derivatives and differ from the credit derivatives in the “Fair value of derivative instruments” tables. This is due to the exclusion of certain credit derivative instruments under US GAAP, which defines a credit derivative as a derivative instrument (a) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (b) that exposes the seller to potential loss from credit risk-related events specified in the contract. Total return swaps (TRS) of CHF 15.8 billion and CHF 16.7 billion as of the end of 6M20 and 2019, respectively, were also excluded because a TRS does not expose the seller to potential loss from credit risk-related events specified in the contract. A TRS only provides protection against a loss in asset value and not against additional amounts as a result of specific credit events. Credit protection sold/purchased 6M20 2019 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (56.0) 49.6 (6.4) 14.2 0.2 (52.6) 47.9 (4.7) 11.5 0.5 Non-investment grade (31.0) 28.5 (2.5) 14.1 (0.4) (32.1) 29.5 (2.6) 16.1 0.9 Total single-name instruments (87.0) 78.1 (8.9) 28.3 (0.2) (84.7) 77.4 (7.3) 27.6 1.4 of which sovereign (14.5) 13.3 (1.2) 5.5 (0.1) (17.2) 15.4 (1.8) 4.1 0.0 of which non-sovereign (72.5) 64.8 (7.7) 22.8 (0.1) (67.5) 62.0 (5.5) 23.5 1.4 Multi-name instruments (CHF billion) Investment grade 2 (114.4) 111.2 (3.2) 37.4 (1.2) (109.5) 108.9 (0.6) 44.0 0.7 Non-investment grade (44.3) 39.7 (4.6) 14.7 3 (0.3) (27.7) 24.5 (3.2) 17.1 3 1.0 Total multi-name instruments (158.7) 150.9 (7.8) 52.1 (1.5) (137.2) 133.4 (3.8) 61.1 1.7 of which non-sovereign (158.7) 150.9 (7.8) 52.1 (1.5) (137.2) 133.4 (3.8) 61.1 1.7 Total instruments (CHF billion) Investment grade 2 (170.4) 160.8 (9.6) 51.6 (1.0) (162.1) 156.8 (5.3) 55.5 1.2 Non-investment grade (75.3) 68.2 (7.1) 28.8 (0.7) (59.8) 54.0 (5.8) 33.2 1.9 Total instruments (245.7) 229.0 (16.7) 80.4 (1.7) (221.9) 210.8 (11.1) 88.7 3.1 of which sovereign (14.5) 13.3 (1.2) 5.5 (0.1) (17.2) 15.4 (1.8) 4.1 0.0 of which non-sovereign (231.2) 215.7 (15.5) 74.9 (1.6) (204.7) 195.4 (9.3) 84.6 3.1 1 Represents credit protection purchased with identical underlyings and recoveries. 2 Based on internal ratings of BBB and above. 3 Includes synthetic securitized loan portfolios. The following table reconciles the notional amount of credit derivatives included in the table “Fair value of derivative instruments” to the table “Credit protection sold/purchased”. Credit derivatives end of 6M20 2019 Credit derivatives (CHF billion) Credit protection sold 245.7 221.9 Credit protection purchased 229.0 210.8 Other protection purchased 80.4 88.7 Other instruments 1 15.8 16.7 Total credit derivatives 570.9 538.1 1 Consists of total return swaps and other derivative instruments. Maturity of credit protection sold Maturity Maturity Maturity 6M20 (CHF billion) Single-name instruments 18.7 63.2 5.1 87.0 Multi-name instruments 39.3 105.7 13.7 158.7 Total instruments 58.0 168.9 18.8 245.7 2019 (CHF billion) Single-name instruments 19.2 60.6 4.9 84.7 Multi-name instruments 41.9 79.8 15.5 137.2 Total instruments 61.1 140.4 20.4 221.9 |
Guarantees and commitments
Guarantees and commitments | 6 Months Ended |
Jun. 30, 2020 | |
Guarantees and commitments | 28 Guarantees and commitments Guarantees In the ordinary course of business, guarantees are provided that contingently obligate the Group to make payments to third parties if the counterparty fails to fulfill its obligation under a borrowing or other contractual arrangement. The total gross amount disclosed within the Guarantees table reflects the maximum potential payment under the guarantees. The carrying value represents the higher of the initial fair value (generally the related fee received or receivable) less cumulative amortization and the Group’s current best estimate of payments that will be required under existing guarantee arrangements. Guarantees provided by the Group are classified as follows: credit guarantees and similar instruments, performance guarantees and similar instruments, derivatives and other guarantees. > Refer to “Guarantees” in VI – Consolidated financial statements – Credit Suisse Group – Note 33 – Guarantees and commitments in the Credit Suisse Annual Report 2019 for a detailed description of guarantees. Guarantees Maturity Maturity Total Total 1 2Q20 (CHF million) Credit guarantees and similar instruments 1,974 1,206 3,180 3,116 51 1,573 Performance guarantees and similar instruments 4,625 2,324 6,949 5,962 72 2,551 Securities lending indemnifications 1,449 0 1,449 1,449 0 1,449 Derivatives 2 8,848 4,981 13,829 13,829 561 – 3 Other guarantees 4,918 1,394 6,312 6,276 94 3,720 Total guarantees 21,814 9,905 31,719 30,632 778 9,293 4Q19 (CHF million) Credit guarantees and similar instruments 2,206 908 3,114 3,061 10 1,655 Performance guarantees and similar instruments 4,942 3,915 8,857 7,833 31 2,793 Derivatives 2 13,194 4,050 17,244 17,244 295 – 3 Other guarantees 4,257 2,246 6,503 6,457 64 4,003 Total guarantees 24,599 11,119 35,718 34,595 400 8,451 1 Total net amount is computed as the gross amount less any participations. 2 Excludes derivative contracts with certain active commercial and investment banks and certain other counterparties, as such contracts can be cash settled and the Group had no basis to conclude it was probable that the counterparties held, at inception, the underlying instruments. 3 Collateral for derivatives accounted for as guarantees is not significant. Deposit-taking banks and securities dealers in Switzerland and certain other European countries are required to ensure the payout of privileged deposits in case of specified restrictions or compulsory liquidation of a deposit-taking bank. In Switzerland, deposit-taking banks and securities dealers jointly guarantee an amount of up to CHF 6 billion. Upon occurrence of a payout event triggered by a specified restriction of business imposed by FINMA or by the compulsory liquidation of another deposit-taking bank, the Group’s contribution will be calculated based on its share of privileged deposits in proportion to total privileged deposits. Based on FINMA’s estimate for the Group’s banking subsidiaries in Switzerland, the Group’s share in the deposit insurance guarantee program for the period July 1, 2019 to June 30, 2020 was CHF 0.5 billion. These deposit insurance guarantees were reflected in other guarantees. For the period July 1, 2020 to June 30, 2021, the Group’s share in the deposit insurance guarantee program based on FINMA’s estimate will be CHF 0.5 billion. Representations and warranties on residential mortgage loans sold In connection with the Global Markets division’s sale of US residential mortgage loans, the Group has provided certain representations and warranties relating to the loans sold. The Group has provided these representations and warranties relating to sales of loans to institutional investors, primarily banks, and non-agency, or private label, securitizations. The loans sold are primarily loans that the Group has purchased from other parties. The scope of representations and warranties, if any, depends on the transaction, but can include: ownership of the mortgage loans and legal capacity to sell the loans; LTV ratios and other characteristics of the property, the borrower and the loan; validity of the liens securing the loans and absence of delinquent taxes or related liens; conformity to underwriting standards and completeness of documentation; and origination in compliance with law. If it is determined that representations and warranties were breached, the Group may be required to repurchase the related loans or indemnify the investors to make them whole for losses. Whether the Group will incur a loss in connection with repurchases and make whole payments depends on: the extent to which claims are made; the validity of such claims made within the statute of limitations (including the likelihood and ability to enforce claims); whether the Group can successfully claim against parties that sold loans to the Group and made representations and warranties to the Group; the residential real estate market, including the number of defaults; and whether the obligations of the securitization vehicles were guaranteed or insured by third parties. Repurchase claims on residential mortgage loans sold that are subject to arbitration or litigation proceedings, or become so during the reporting period, are not included in this Guarantees and commitments disclosure but are addressed in litigation and related loss contingencies and provisions. The Group is involved in litigation relating to representations and warranties on residential mortgages sold. > Refer to “Note 32 – Litigation” for further information. Disposal-related contingencies and other indemnifications The Group has certain guarantees for which its maximum contingent liability cannot be quantified. These guarantees include disposal-related contingencies in connection with the sale of assets or businesses, and other indemnifications. These guarantees are not reflected in the “Guarantees” table. > Refer to “Disposal-related contingencies and other indemnifications” in VI – Consolidated financial statements – Credit Suisse Group – Note 33 – Guarantees and commitments in the Credit Suisse Annual Report 2019 for a description of these guarantees. Other commitments Other commitments of the Group are classified as follows: irrevocable commitments under documentary credits, irrevocable loan commitments, forward reverse repurchase agreements and other commitments. > Refer to “Other commitments” in VI – Consolidated financial statements – Credit Suisse Group – Note 33 – Guarantees and commitments in the Credit Suisse Annual Report 2019 for a description of these commitments. Other commitments 2Q20 4Q19 Maturity Maturity Total Total 1 Maturity Maturity Total Total 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 3,285 53 3,338 3,248 2,073 4,434 163 4,597 4,518 3,077 Irrevocable loan commitments 2 19,662 89,255 108,917 104,992 48,456 27,145 97,982 125,127 120,436 60,118 Forward reverse repurchase agreements 127 0 127 127 127 41 0 41 41 41 Other commitments 299 182 481 481 49 630 300 930 930 127 Total other commitments 23,373 89,490 112,863 108,848 50,705 32,250 98,445 130,695 125,925 63,363 1 Total net amount is computed as the gross amount less any participations. 2 Irrevocable loan commitments do not include a total gross amount of CHF 125,564 million and CHF 128,294 million of unused credit limits as of the end of 2Q20 and 4Q19 respectively, which were revocable at the Group's sole discretion upon notice to the client. |
Bank | |
Guarantees and commitments | 27 Guarantees and commitments > Refer to “Note 28 – Guarantees and commitments” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 and to “Note 32 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for further information. Guarantees Maturity Maturity 1 6M20 (CHF million) Credit guarantees and similar instruments 1,974 1,210 3,184 3,120 51 1,573 Performance guarantees and similar instruments 4,625 2,324 6,949 5,962 72 2,551 Securities lending indemnifications 1,449 0 1,449 1,449 0 1,449 Derivatives 2 8,848 4,981 13,829 13,829 561 – 3 Other guarantees 4,918 1,394 6,312 6,276 94 3,720 Total guarantees 21,814 9,909 31,723 30,636 778 9,293 2019 (CHF million) Credit guarantees and similar instruments 2,206 912 3,118 3,065 10 1,655 Performance guarantees and similar instruments 4,942 3,915 8,857 7,833 31 2,793 Derivatives 2 13,194 4,050 17,244 17,244 295 – 3 Other guarantees 4,257 2,246 6,503 6,457 64 4,003 Total guarantees 24,599 11,123 35,722 34,599 400 8,451 1 Total net amount is computed as the gross amount less any participations. 2 Excludes derivative contracts with certain active commercial and investment banks and certain other counterparties, as such contracts can be cash settled and the Bank had no basis to conclude it was probable that the counterparties held, at inception, the underlying instruments. 3 Collateral for derivatives accounted for as guarantees is not considered significant. Deposit-taking banks and securities dealers in Switzerland and certain other European countries are required to ensure the payout of privileged deposits in case of specified restrictions or compulsory liquidation of a deposit-taking bank. In Switzerland, deposit-taking banks and securities dealers jointly guarantee an amount of up to CHF 6 billion. Upon occurrence of a payout event triggered by a specified restriction of business imposed by the Swiss Financial Market Supervisory Authority FINMA (FINMA) or by the compulsory liquidation of another deposit taking bank, the Bank’s contribution will be calculated based on its share of privileged deposits in proportion to total privileged deposits. Based on FINMA’s estimate for the Bank’s banking subsidiaries in Switzerland, the Bank’s share in the deposit insurance guarantee program for the period July 1, 2019 to June 30, 2020 was CHF 0.5 billion. These deposit insurance guarantees were reflected in other guarantees. For the period July 1, 2020 to June 30, 2021, the Bank’s share in this deposit insurance guarantee program based on FINMA’s estimate will be CHF 0.5 billion. Representations and warranties on residential mortgage loans sold In connection with the Global Markets division’s sale of US residential mortgage loans, the Bank has provided certain representations and warranties relating to the loans sold. > Refer to “Note 28 – Guarantees and commitments” in III – Consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 and to “Note 32 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for further information. Other commitments 6M20 2019 Maturity Maturity 1 Maturity Maturity 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 3,285 53 3,338 3,248 2,073 4,434 163 4,597 4,518 3,077 Irrevocable loan commitments 19,662 89,255 108,917 2 104,992 48,456 27,145 97,982 125,127 2 120,436 60,118 Forward reverse repurchase agreements 127 0 127 127 127 41 0 41 41 41 Other commitments 299 182 481 481 49 630 300 930 930 127 Total other commitments 23,373 89,490 112,863 108,848 50,705 32,250 98,445 130,695 125,925 63,363 1 Total net amount is computed as the gross amount less any participations. 2 Irrevocable loan commitments do not include a total gross amount of CHF 125,565 million and CHF 128,295 million of unused credit limits as of the end of 6M20 and 2019, respectively, which were revocable at the Bank's sole discretion upon notice to the client. The prior period has been adjusted to the current presentation. |
Transfers of financial assets a
Transfers of financial assets and variable interest entities | 6 Months Ended |
Jun. 30, 2020 | |
Transfers of financial assets and variable interest entities | 29 Transfers of financial assets and variable interest entities In the normal course of business, the Group enters into transactions with, and makes use of, SPEs. An SPE is an entity in the form of a trust or other legal structure designed to fulfill a specific limited need of the company that organized it and is generally structured to isolate the SPE’s assets from creditors of other entities, including the Group. The principal uses of SPEs are to assist the Group and its clients in securitizing financial assets and creating investment products. The Group also uses SPEs for other client-driven activity, such as to facilitate financings, and for Group tax or regulatory purposes. Transfers of financial assets Securitizations The majority of the Group’s securitization activities involve mortgages and mortgage-related securities and are predominantly transacted using SPEs. In a typical securitization, the SPE purchases assets financed by proceeds received from the SPE’s issuance of debt and equity instruments, certificates, commercial papers (CP) and other notes of indebtedness. These assets and liabilities are recorded on the balance sheet of the SPE and not reflected on the Group’s consolidated balance sheet, unless either the Group sold the assets to the entity and the accounting requirements for sale were not met or the Group consolidates the SPE. The Group purchases commercial and residential mortgages for the purpose of securitization and sells these mortgage loans to SPEs. These SPEs issue commercial mortgage-backed securities (CMBS), RMBS and asset-backed securities (ABS) that are collateralized by the assets transferred to the SPE and that pay a return based on the returns on those assets. Investors in these mortgage-backed securities or ABS typically have recourse to the assets in the SPEs. Third-party guarantees may further enhance the creditworthiness of the assets. The investors and the SPEs have no recourse to the Group’s assets. The Group is typically an underwriter of, and makes a market in, these securities. The Group also transacts in re-securitizations of previously issued RMBS. Typically, certificates issued out of an existing securitization vehicle are sold into a newly created and separate securitization vehicle. Often, these re-securitizations are initiated in order to re-securitize an existing security to give the investor an investment with different risk ratings or characteristics. The Group also uses SPEs for other asset-backed financings relating to client-driven activity and for Group tax or regulatory purposes. Types of structures included in this category include managed collateralized loan obligations (CLOs), CLOs, leveraged finance, repack and other types of transactions, including life insurance structures, emerging market structures set up for financing, loan participation or loan origination purposes, and other alternative structures created for the purpose of investing in venture capital-like investments. CLOs are collateralized by loans transferred to the CLO vehicle and pay a return based on the returns on the loans. Leveraged finance structures are used to assist in the syndication of certain loans held by the Group, while repack structures are designed to give a client collateralized exposure to specific cash flows or credit risk backed by collateral purchased from the Group. In these asset-backed financing structures, investors typically only have recourse to the collateral of the SPE and do not have recourse to the Group’s assets. When the Group transfers assets into an SPE, it must assess whether that transfer is accounted for as a sale of the assets. Transfers of assets may not meet sale requirements if the assets have not been legally isolated from the Group and/or if the Group’s continuing involvement is deemed to give it effective control over the assets. If the transfer is not deemed a sale, it is instead accounted for as a secured borrowing, with the transferred assets as collateral. Gains and losses on securitization transactions depend, in part, on the carrying values of mortgages and loans involved in the transfer and are allocated between the assets sold and any beneficial interests retained according to the relative fair values at the date of sale. The Group does not retain material servicing responsibilities from securitization activities. The following table provides the gains or losses and proceeds from the transfer of assets relating to 6M20 and 6M19 securitizations of financial assets that qualify for sale accounting and subsequent derecognition, along with the cash flows between the Group and the SPEs used in any securitizations in which the Group still has continuing involvement, regardless of when the securitization occurred. Securitizations in 6M20 6M19 Gains/(losses) and cash flows (CHF million) CMBS Net gain/(loss) 1 30 (1) Proceeds from transfer of assets 4,862 3,632 Cash received on interests that continue to be held 21 19 RMBS Net gain/(loss) 1 22 (4) Proceeds from transfer of assets 11,373 8,045 Purchases of previously transferred financial assets or its underlying collateral 0 (1) Servicing fees 1 1 Cash received on interests that continue to be held 457 116 Other asset-backed financings Net gain 1 61 48 Proceeds from transfer of assets 4,766 4,801 Purchases of previously transferred financial assets or its underlying collateral (638) (389) Fees 2 72 74 Cash received on interests that continue to be held 11 3 1 Includes underwriting revenues, deferred origination fees, gains or losses on the sale of collateral to the SPE and gains or losses on the sale of newly issued securities to third parties, but excludes net interest income on assets prior to the securitization. The gains or losses on the sale of the collateral is the difference between the fair value on the day prior to the securitization pricing date and the sale price of the loans. 2 Represents management fees and performance fees earned for investment management services provided to managed CLOs. Continuing involvement in transferred financial assets The Group may have continuing involvement in the financial assets that are transferred to an SPE which may take several forms, including, but not limited to, servicing, recourse and guarantee arrangements, agreements to purchase or redeem transferred assets, derivative instruments, pledges of collateral and beneficial interests in the transferred assets. > Refer to “Transfer of financial assets” in VI – Consolidated financial statements – Credit Suisse Group – Note 34 – Transfer of financial assets and variable interest entities in the Credit Suisse Annual Report 2019 for a detailed description of continuing involvement in transferred financial assets. The following table provides the outstanding principal balance of assets to which the Group continued to be exposed after the transfer of the financial assets to any SPE and the total assets of the SPE as of the end of 2Q20 and 4Q19, regardless of when the transfer of assets occurred. Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 2Q20 4Q19 CHF million CMBS Principal amount outstanding 20,184 21,079 Total assets of SPE 26,731 28,748 RMBS Principal amount outstanding 55,801 54,001 Total assets of SPE 57,228 55,595 Other asset-backed financings Principal amount outstanding 25,905 27,982 Total assets of SPE 50,594 54,974 Principal amount outstanding relates to assets transferred from the Group and does not include principal amounts for assets transferred from third parties. Fair value of beneficial interests The fair value measurement of the beneficial interests held at the time of transfer and as of the reporting date that result from any continuing involvement is determined using fair value estimation techniques, such as the present value of estimated future cash flows that incorporate assumptions that market participants customarily use in these valuation techniques. The fair value of the assets or liabilities that result from any continuing involvement does not include any benefits from financial instruments that the Group may utilize to hedge the inherent risks. Key economic assumptions at the time of transfer > Refer to “Note 30 – Financial instruments” for further information on the fair value hierarchy. Key economic assumptions used in measuring fair value of beneficial interests at time of transfer 6M20 6M19 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 172 1,646 281 885 of which level 2 158 1,465 264 826 of which level 3 14 181 17 59 Weighted-average life, in years 8.1 3.6 4.1 4.7 Prepayment speed assumption (rate per annum), in % 1 – 2 1.0 – 38.2 – 2 2.0 – 37.3 Cash flow discount rate (rate per annum), in % 3 1.4 – 9.2 0.7 – 24.7 2.5 – 8.3 2.3 – 11.6 Expected credit losses (rate per annum), in % 4 4.0 – 8.6 3.3 – 22.9 1.3 – 5.8 1.7 – 3.4 Transfers of assets in which the Group does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate is based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. Key economic assumptions as of the reporting date The following table provides the sensitivity analysis of key economic assumptions used in measuring the fair value of beneficial interests held in SPEs as of the end of 2Q20 and 4Q19. Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 2Q20 4Q19 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 330 2,494 662 399 2,282 751 of which non-investment grade 40 860 19 46 711 15 Weighted-average life, in years 6.5 3.6 2.2 6.4 5.7 1.6 Prepayment speed assumption (rate per annum), in % 3 – 1.0 – 46.4 – – 3.0 – 35.7 – Impact on fair value from 10% adverse change – (52.7) – – (38.1) – Impact on fair value from 20% adverse change – (99.9) – – (72.6) – Cash flow discount rate (rate per annum), in % 4 1.3 – 22.4 0.6 – 42.0 1.1 – 25.4 2.2 – 15.2 1.5 – 36.2 0.7 – 13.1 Impact on fair value from 10% adverse change (4.7) (32.5) (3.2) (6.8) (38.3) (2.1) Impact on fair value from 20% adverse change (9.3) (62.3) (6.3) (13.4) (74.7) (4.2) Expected credit losses (rate per annum), in % 5 1.4 – 10.9 0.2 – 29.7 1.1 – 25.4 0.5 – 8.5 1.1 – 34.5 0.7 – 12.8 Impact on fair value from 10% adverse change (4.1) (30.2) (3.2) (4.1) (24.1) (2.0) Impact on fair value from 20% adverse change (8.0) (58.0) (6.3) (8.1) (47.3) (4.0) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs and CLOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate is based on the weighted-average yield on the beneficial interests. 5 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. These sensitivities are hypothetical and do not reflect economic hedging activities. Changes in fair value based on a 10% or 20% variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, the effect of a variation in a particular assumption on the fair value of the beneficial interests is calculated without changing any other assumption. In practice, changes in one assumption may result in changes in other assumptions (for example, increases in market interest rates may result in lower prepayments and increased credit losses), which might magnify or counteract the sensitivities. Transfers of financial assets where sale treatment was not achieved The following table provides the carrying amounts of transferred financial assets and the related liabilities where sale treatment was not achieved as of the end of 2Q20 and 4Q19. > Refer to “Note 31 – Assets pledged and collateral” for further information. Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 2Q20 4Q19 CHF million Other asset-backed financings Trading assets 562 279 Other assets 184 0 Liability to SPE, included in other liabilities (746) (279) Securities sold under repurchase agreements and securities lending transactions accounted for as secured borrowings For securities sold under repurchase agreements and securities lending transactions accounted for as secured borrowings, US GAAP requires the disclosure of the collateral pledged and the associated risks to which a transferor continues to be exposed after the transfer. This provides an understanding of the nature and risks of short-term collateralized financing obtained through these types of transactions. Securities sold under repurchase agreements and securities lending transactions represent collateralized financing transactions used to earn net interest income, increase liquidity or facilitate trading activities. These transactions are collateralized principally by government debt securities, corporate debt securities, asset-backed securities, equity securities and other collateral and have terms ranging from on demand to a longer period of time. In the event of the Group’s default or a decline in fair value of collateral pledged, the repurchase agreement provides the counterparty with the right to liquidate the collateral held or request additional collateral. Similarly, in the event of the Group’s default, the securities lending transaction provides the counterparty the right to liquidate the securities borrowed. The following tables provide the gross obligation relating to securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral by the class of collateral pledged and by remaining contractual maturity as of the end of 2Q20 and 4Q19. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 2Q20 4Q19 CHF billion Government debt securities 20.9 16.4 Corporate debt securities 8.1 8.6 Asset-backed securities 5.5 2.5 Equity securities 0.8 0.7 Other 1.2 0.2 Securities sold under repurchase agreements 36.5 28.4 Government debt securities 0.9 0.1 Corporate debt securities 0.1 0.1 Equity securities 5.2 5.4 Other 0.1 0.1 Securities lending transactions 6.3 5.7 Government debt securities 5.4 5.3 Corporate debt securities 4.1 1.8 Asset-backed securities 0.1 0.1 Equity securities 32.9 33.0 Obligation to return securities received as collateral, at fair value 42.5 40.2 Total 85.3 74.3 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities 1 Up to 2 31–90 More than 2Q20 (CHF billion) Securities sold under repurchase agreements 5.6 20.1 4.3 6.5 36.5 Securities lending transactions 5.5 0.5 0.2 0.1 6.3 Obligation to return securities received as collateral, at fair value 41.9 0.3 0.2 0.1 42.5 Total 53.0 20.9 4.7 6.7 85.3 4Q19 (CHF billion) Securities sold under repurchase agreements 5.2 15.1 5.9 2.2 28.4 Securities lending transactions 5.7 0.0 0.0 0.0 5.7 Obligation to return securities received as collateral, at fair value 40.0 0.1 0.1 0.0 40.2 Total 50.9 15.2 6.0 2.2 74.3 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. > Refer to “Note 23 – Offsetting of financial assets and financial liabilities” for further information on the gross amount of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral and the net amounts disclosed in the consolidated balance sheets. Variable interest entities As a normal part of its business, the Group engages in various transactions that include entities that are considered variable interest entities (VIEs) and are grouped into three primary categories: collateralized debt obligations (CDOs)/CLOs, CP conduits and financial intermediation. > Refer to “Variable interest entities” in VI – Consolidated financial statements – Credit Suisse Group – Note 34 – Transfer of financial assets and variable interest entities in the Credit Suisse Annual Report 2019 for a detailed description of VIEs, CDO/CLOs, CP conduit or financial intermediation. Collateralized debt and loan obligations The Group engages in CDO/CLO transactions to meet client and investor needs, earn fees and sell financial assets and, in the case of CLOs, loans. The Group may act as underwriter, placement agent or asset manager and may warehouse assets prior to the closing of a transaction. Commercial paper conduit The Group acts as the administrator and provider of liquidity and credit enhancement facilities for Alpine Securitization Ltd (Alpine), a multi-seller asset-backed CP conduit used for client and Group financing purposes. Alpine discloses to CP investors certain portfolio and asset data and submits its portfolio to rating agencies for public ratings on its CP. This CP conduit purchases assets such as loans and receivables or enters into reverse repurchase agreements and finances such activities through the issuance of CP backed by these assets. In addition to CP, Alpine may also issue term notes with maturities up to 30 months. The Group (including Alpine) can enter into liquidity facilities with third-party entities pursuant to which it may be required to purchase assets from these entities to provide them with liquidity and credit support. The financing transactions are structured to provide credit support in the form of over-collateralization and other asset-specific enhancements. Alpine is a separate legal entity that is wholly owned by the Group. However, its assets are available to satisfy only the claims of its creditors. In addition, the Group, as administrator and liquidity facility provider, has significant exposure to and power over the activities of Alpine. Alpine is considered a VIE for accounting purposes and the Group is deemed the primary beneficiary and consolidates this entity. The overall average maturity of Alpine’s outstanding CP was approximately 161 days as of the end of 2Q20. Alpine’s CP was rated A-1(sf) by Standard & Poor’s and P-1(sf) by Moody’s and had exposures mainly in reverse repurchase agreements with a Group entity, consumer loans, solar loans and leases, aircraft loans and leases and car loans and leases. The Group’s financial commitment to this CP conduit consists of obligations under liquidity agreements. The liquidity agreements are asset-specific arrangements, which require the Group to provide short-term financing to the CP conduit or to purchase assets from the CP conduit in certain circumstances, including but not limited to, a lack of liquidity in the CP market such that the CP conduit cannot refinance its obligations or a default of an underlying asset. The asset-specific credit enhancements provided by the client seller of the assets remain unchanged as a result of such a purchase. In entering into such agreements, the Group reviews the credit risk associated with these transactions on the same basis that would apply to other extensions of credit. The Group enters into liquidity facilities with CP conduits administrated and sponsored by third parties. These third-party CP conduits are considered to be VIEs for accounting purposes. The Group is not the primary beneficiary and does not consolidate these third-party CP conduits. The Group’s financial commitment to these third-party CP conduits consists of obligations under liquidity agreements. The liquidity agreements are asset-specific arrangements, which require the Group to provide short-term financing to the third-party CP conduits or to purchase assets from these CP conduits in certain circumstances, including but not limited to, a lack of liquidity in the CP market such that the CP conduits cannot refinance their obligations or a default of an underlying asset. The asset-specific credit enhancements, if any, provided by the client seller of the assets remain unchanged as a result of such a purchase. In entering into such agreements, the Group reviews the credit risk associated with these transactions on the same basis that would apply to other extensions of credit. In some situations, the Group can enter into liquidity facilities with these third-party CP conduits through Alpine. As of the end of 2Q20 and 4Q19, the Group’s outstanding facilities provided to these third-party conduits through Alpine are not included in the tabular disclosure of non-consolidated VIEs and represent a maximum exposure to loss of CHF 6,157 million and CHF 6,159 million, respectively, and total assets of these non-consolidated VIEs of CHF 13,103 million and CHF 13,488 million, respectively. The Group’s economic risks associated with the Alpine CP conduit and the third-party CP conduits are included in the Group’s risk management framework including counterparty, economic risk capital and scenario analysis. Financial intermediation The Group has significant involvement with VIEs in its role as a financial intermediary on behalf of clients. Financial intermediation consists of securitizations, funds, loans and other vehicles. Consolidated VIEs The Group has significant involvement with VIEs in its role as a financial intermediary on behalf of clients. The Group consolidates all VIEs related to financial intermediation for which it was the primary beneficiary. The consolidated VIEs table provides the carrying amounts and classifications of the assets and liabilities of consolidated VIEs as of the end of 2Q20 and 4Q19. Consolidated VIEs in which the Group was the primary beneficiary Financial intermediation CDO/ CP Securi- 2Q20 (CHF million) Cash and due from banks 0 4 35 10 37 10 96 Trading assets 0 0 1,397 48 962 16 2,423 Other investments 0 0 0 163 1,066 242 1,471 Net loans 0 505 54 45 33 206 843 Other assets 0 21 1,011 4 117 863 2,016 of which loans held-for-sale 0 0 429 0 0 0 429 of which premises and equipment 0 0 0 0 32 11 43 Total assets of consolidated VIEs 0 530 2,497 270 2,215 1,337 6,849 Trading liabilities 0 0 0 0 11 0 11 Short-term borrowings 0 4,515 0 0 0 0 4,515 Long-term debt 0 0 1,759 0 11 33 1,803 Other liabilities 0 57 2 4 86 102 251 Total liabilities of consolidated VIEs 0 4,572 1,761 4 108 135 6,580 4Q19 (CHF million) Cash and due from banks 6 1 71 11 39 10 138 Trading assets 75 0 1,554 82 1,063 14 2,788 Other investments 0 0 0 113 1,052 247 1,412 Net loans 0 325 53 1 29 241 649 Other assets 1 21 638 4 87 943 1,694 of which loans held-for-sale 0 0 93 0 0 0 93 of which premises and equipment 0 0 0 0 36 8 44 Total assets of consolidated VIEs 82 347 2,316 211 2,270 1,455 6,681 Trading liabilities 0 0 0 0 8 0 8 Short-term borrowings 0 4,885 0 0 0 0 4,885 Long-term debt 7 0 1,614 1 13 36 1,671 Other liabilities 0 54 1 4 92 146 297 Total liabilities of consolidated VIEs 7 4,939 1,615 5 113 182 6,861 Non-consolidated VIEs The non-consolidated VIEs table provides the carrying amounts and classification of the assets of variable interests recorded in the Group’s consolidated balance sheets, maximum exposure to loss and total assets of the non-consolidated VIEs. Certain VIEs have not been included in the following table, including VIEs structured by third parties in which the Group’s interest is in the form of securities held in the Group’s inventory, certain repurchase financings to funds and single-asset financing vehicles not sponsored by the Group to which the Group provides financing but has very little risk of loss due to over-collateralization and/or guarantees, failed sales where the Group does not have any other holdings and other entities out of scope. > Refer to “Variable interest entities” in VI – Consolidated financial statements – Credit Suisse Group – Note 34 – Transfer of financial assets and variable interest entities in the Credit Suisse Annual Report 2019 for further information on non-consolidated VIEs. Non-consolidated VIEs Financial intermediation CDO/ Securi- 2Q20 (CHF million) Trading assets 198 5,176 934 81 7,513 13,902 Net loans 485 797 2,029 7,712 1,031 12,054 Other assets 14 79 124 0 543 760 Total variable interest assets 697 6,052 3,087 7,793 9,087 26,716 Maximum exposure to loss 764 7,636 3,087 11,675 9,559 32,721 Total assets of non-consolidated VIEs 7,498 165,338 120,087 28,657 45,925 367,505 4Q19 (CHF million) Trading assets 230 4,897 962 109 4,311 10,509 Net loans 456 904 1,945 7,930 709 11,944 Other assets 3 26 518 0 380 927 Total variable interest assets 689 5,827 3,425 8,039 5,400 23,380 Maximum exposure to loss 785 7,664 3,430 12,239 5,937 30,055 Total assets of non-consolidated VIEs 8,057 141,608 128,984 25,590 35,998 340,237 |
Bank | |
Transfers of financial assets and variable interest entities | 28 Transfers of financial assets and variable interest entities > Refer to “Note 29 – Transfers of financial assets and variable interest entities“ in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 and “Note 33 – Transfers of financial assets and variable interest entities“ in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for further information. Transfers of financial assets Securitizations The following table provides the gains or losses and proceeds from the transfer of assets relating to 6M20 and 6M19 securitizations of financial assets that qualify for sale accounting and subsequent derecognition, along with cash flows between the Bank and the SPEs used in any securitizations in which the Bank maintained continuing involvement from the time of the transaction, regardless of when the securitization occurred. Securitizations in 6M20 6M19 Gains/(losses) and cash flows (CHF million) CMBS Net gain/(loss) 1 30 (1) Proceeds from transfer of assets 4,862 3,632 Cash received on interests that continue to be held 21 19 RMBS Net gain/(loss) 1 22 (4) Proceeds from transfer of assets 11,373 8,045 Purchases of previously transferred financial assets or its underlying collateral 0 (1) Servicing fees 1 1 Cash received on interests that continue to be held 457 116 Other asset-backed financings Net gain 1 61 48 Proceeds from transfer of assets 4,766 4,801 Purchases of previously transferred financial assets or its underlying collateral (638) (389) Fees 2 72 74 Cash received on interests that continue to be held 11 3 1 Includes underwriting revenues, deferred origination fees, gains or losses on the sale of collateral to the SPE and gains or losses on the sale of newly issued securities to third parties, but excludes net interest income on assets prior to the securitization. The gains or losses on the sale of the collateral is the difference between the fair value on the day prior to the securitization pricing date and the sale price of the loans. 2 Represents management fees and performance fees earned for investment management services provided to managed CLOs. Continuing involvement in transferred financial assets The following table provides the outstanding principal balance of assets to which the Bank continued to be exposed after the transfer of the financial assets to any SPE and the total assets of the SPE as of the end of 6M20 and 2019, regardless of when the transfer of assets occurred. Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 6M20 2019 CHF million CMBS Principal amount outstanding 20,184 21,079 Total assets of SPE 26,731 28,748 RMBS Principal amount outstanding 55,801 54,001 Total assets of SPE 57,228 55,595 Other asset-backed financings Principal amount outstanding 25,905 27,982 Total assets of SPE 50,594 54,974 Principal amount outstanding relates to assets transferred from the Bank and does not include principle amounts for assets transferred from third parties. Fair value of beneficial interests The fair value measurement of the beneficial interests held at the time of transfer and as of the reporting date that result from any continuing involvement is determined using fair value estimation techniques, such as the present value of estimated future cash flows that incorporate assumptions that market participants customarily use in these valuation techniques. The fair value of the assets or liabilities that result from any continuing involvement does not include any benefits from financial instruments that the Bank may utilize to hedge the inherent risks. Key economic assumptions at the time of transfer > Refer to “Note 29 – Financial instruments” for information on fair value hierarchy levels. Key economic assumptions used in measuring fair value of beneficial interests at time of transfer 6M20 6M19 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 172 1,646 281 885 of which level 2 158 1,465 264 826 of which level 3 14 181 17 59 Weighted-average life, in years 8.1 3.6 4.1 4.7 Prepayment speed assumption (rate per annum), in % 1 – 2 1.0 – 38.2 – 2 2.0 – 37.3 Cash flow discount rate (rate per annum), in % 3 1.4 – 9.2 0.7 – 24.7 2.5 – 8.3 2.3 – 11.6 Expected credit losses (rate per annum), in % 4 4.0 – 8.6 3.3 – 22.9 1.3 – 5.8 1.7 – 3.4 Transfers of assets in which the Bank does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate was based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. Key economic assumptions as of the reporting date The following table provides the sensitivity analysis of key economic assumptions used in measuring the fair value of beneficial interests held in SPEs as of the end of 6M20 and 2019. Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 6M20 2019 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 330 2,494 662 399 2,282 751 of which non-investment grade 40 860 19 46 711 15 Weighted-average life, in years 6.5 3.6 2.2 6.4 5.7 1.6 Prepayment speed assumption (rate per annum), in % 3 – 1.0 – 46.4 – – 3.0 – 35.7 – Impact on fair value from 10% adverse change – (52.7) – – (38.1) – Impact on fair value from 20% adverse change – (99.9) – – (72.6) – Cash flow discount rate (rate per annum), in % 4 1.3 – 22.4 0.6 – 42.0 1.1 – 25.4 2.2 – 15.2 1.5 – 36.2 0.7 – 13.1 Impact on fair value from 10% adverse change (4.7) (32.5) (3.2) (6.8) (38.3) (2.1) Impact on fair value from 20% adverse change (9.3) (62.3) (6.3) (13.4) (74.7) (4.2) Expected credit losses (rate per annum), in % 5 1.4 – 10.9 0.2 – 29.7 1.1 – 25.4 0.5 – 8.5 1.1 – 34.5 0.7 – 12.8 Impact on fair value from 10% adverse change (4.1) (30.2) (3.2) (4.1) (24.1) (2.0) Impact on fair value from 20% adverse change (8.0) (58.0) (6.3) (8.1) (47.3) (4.0) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate was based on the weighted-average yield on the beneficial interests. 5 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. Transfers of financial assets where sale treatment was not achieved The following table provides the carrying amounts of transferred financial assets and the related liabilities where sale treatment was not achieved as of the end of 6M20 and 2019. > Refer to “Note 30 – Assets pledged and collateral” for information on assets pledged or assigned. Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 6M20 2019 CHF million Other asset-backed financings Trading assets 562 279 Other assets 184 0 Liability to SPE, included in other liabilities (746) (279) Securities sold under repurchase agreements and securities lending transactions accounted for as secured borrowings The following tables provide the gross obligation relating to securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral by the class of collateral pledged and by remaining contractual maturity as of the end of 6M20 and 2019. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 6M20 2019 CHF billion Government debt securities 1 21.0 16.5 Corporate debt securities 1 8.1 8.6 Asset-backed securities 5.5 2.5 Equity securities 0.8 0.7 Other 1.2 0.2 Securities sold under repurchase agreements 36.6 28.5 Government debt securities 0.9 0.1 Corporate debt securities 0.1 0.1 Equity securities 5.2 5.4 Other 0.1 0.1 Securities lending transactions 6.3 5.7 Government debt securities 5.4 5.3 Corporate debt securities 4.1 1.8 Asset-backed securities 0.1 0.1 Equity securities 32.9 33.0 Obligation to return securities received as collateral, at fair value 42.5 40.2 Total 85.4 74.4 1 Prior period has been corrected. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities 1 Up to 2 31-90 More than 6M20 (CHF billion) Securities sold under repurchase agreements 5.6 20.2 4.3 6.5 36.6 Securities lending transactions 5.5 0.5 0.2 0.1 6.3 Obligation to return securities received as collateral, at fair value 41.9 0.3 0.2 0.1 42.5 Total 53.0 21.0 4.7 6.7 85.4 2019 (CHF billion) Securities sold under repurchase agreements 5.2 15.2 5.9 2.2 28.5 Securities lending transactions 5.7 0.0 0.0 0.0 5.7 Obligation to return securities received as collateral, at fair value 40.0 0.1 0.1 0.0 40.2 Total 50.9 15.3 6.0 2.2 74.4 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. > Refer to “Note 22 – Offsetting of financial assets and financial liabilities” for further information on the gross amount of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral and the net amounts disclosed in the consolidated balance sheets. Variable interest entities Commercial paper conduit The Bank acts as the administrator and provider of liquidity and credit enhancement facilities for Alpine Securitization Ltd (Alpine), a multi-seller asset-backed CP conduit used for client and Bank financing purposes. Alpine discloses to CP investors certain portfolio and asset data and submits its portfolio to rating agencies for public ratings on its CP. This CP conduit purchases assets such as loans and receivables or enters into reverse repurchase agreements and finances such activities through the issuance of CP backed by these assets. In addition to CP, Alpine may also issue term notes with maturities up to 30 months. The Bank (including Alpine) can enter into liquidity facilities with third-party entities pursuant to which it may be required to purchase assets from these entities to provide them with liquidity and credit support. The financing transactions are structured to provide credit support in the form of over-collateralization and other asset-specific enhancements. Alpine is a separate legal entity that is wholly owned by the Bank. However, its assets are available to satisfy only the claims of its creditors. In addition, the Bank, as administrator and liquidity facility provider, has significant exposure to and power over the activities of Alpine. Alpine is considered a VIE for accounting purposes and the Bank is deemed the primary beneficiary and consolidates this entity. The overall average maturity of Alpine’s outstanding CP was approximately 161 days as of the end of 6M20. Alpine’s CP was rated A-1(sf) by Standard & Poor’s and P-1(sf) by Moody’s. Alpine had exposures mainly in reverse repurchase agreements with a Group entity, consumer loans, solar loans and leases, aircraft loans and leases and car loans and leases. The Bank’s financial commitment to this CP conduit consists of obligations under liquidity agreements. The liquidity agreements are asset-specific arrangements, which require the Bank to provide short-term financing to the CP conduit or to purchase assets from the CP conduit in certain circumstances, including but not limited to, a lack of liquidity in the CP market such that the CP conduit cannot refinance its obligations or a default of an underlying asset. The asset-specific credit enhancements provided by the client seller of the assets remain unchanged as a result of such a purchase. In entering into such agreements, the Bank reviews the credit risk associated with these transactions on the same basis that would apply to other extensions of credit. The Bank enters into liquidity facilities with CP conduits administrated and sponsored by third parties. These third-party CP conduits are considered to be VIEs for accounting purposes. The Bank is not the primary beneficiary and does not consolidate these third-party CP conduits. The Bank’s financial commitment to these third-party CP conduits consists of obligations under liquidity agreements. The liquidity agreements are asset-specific arrangements, which require the Bank to provide short-term financing to the third-party CP conduits or to purchase assets from these CP conduits in certain circumstances, including but not limited to, a lack of liquidity in the CP market such that the CP conduits cannot refinance their obligations or a default of an underlying asset. The asset-specific credit enhancements, if any, provided by the client seller of the assets remain unchanged as a result of such a purchase. In entering into such agreements, the Bank reviews the credit risk associated with these transactions on the same basis that would apply to other extensions of credit. In some situations, the Bank can enter into liquidity facilities with these third-party CP conduits through Alpine. As of the end of 6M20 and 2019, the Bank’s outstanding facilities provided to these third-party conduits through Alpine are not included in the tabular disclosure of non-consolidated VIEs and represent a maximum exposure to loss of CHF 6,157 million and CHF 6,159 million, respectively, and total assets of these non-consolidated VIEs of CHF 13,103 million and CHF 13,488 million, respectively. The Bank’s economic risks associated with the Alpine CP conduit and the third-party CP conduits are included in the Bank’s risk management framework including counterparty, economic risk capital and scenario analysis. Consolidated VIEs The consolidated variable interest entities (VIEs) tables provide the carrying amounts and classifications of the assets and liabilities of consolidated VIEs as of the end of 6M20 and 2019. Consolidated VIEs in which the Bank was the primary beneficiary Financial intermediation CDO/ CP Securi- 6M20 (CHF million) Cash and due from banks 0 4 35 10 37 10 96 Trading assets 0 0 1,397 48 962 16 2,423 Other investments 0 0 0 163 1,066 242 1,471 Net loans 0 505 54 45 33 206 843 Other assets 0 21 1,011 4 98 863 1,997 of which loans held-for-sale 0 0 429 0 0 0 429 of which premises and equipment 0 0 0 0 14 11 25 Total assets of consolidated VIEs 0 530 2,497 270 2,196 1,337 6,830 Trading liabilities 0 0 0 0 11 0 11 Short-term borrowings 0 4,515 0 0 0 0 4,515 Long-term debt 0 0 1,759 0 11 33 1,803 Other liabilities 0 57 2 4 86 102 251 Total liabilities of consolidated VIEs 0 4,572 1,761 4 108 135 6,580 2019 (CHF million) Cash and due from banks 6 1 71 11 39 10 138 Trading assets 75 0 1,554 82 1,063 14 2,788 Other investments 0 0 0 113 1,052 247 1,412 Net loans 0 325 53 1 29 241 649 Other assets 1 21 638 4 67 943 1,674 of which loans held-for-sale 0 0 93 0 0 0 93 of which premises and equipment 0 0 0 0 17 8 25 Total assets of consolidated VIEs 82 347 2,316 211 2,250 1,455 6,661 Trading liabilities 0 0 0 0 8 0 8 Short-term borrowings 0 4,885 0 0 0 0 4,885 Long-term debt 7 0 1,614 1 13 36 1,671 Other liabilities 0 54 1 4 91 146 296 Total liabilities of consolidated VIEs 7 4,939 1,615 5 112 182 6,860 Non-consolidated VIEs Non-consolidated VIE assets are related to the non-consolidated VIEs with which the Bank has variable interests. These amounts represent the assets of the entities themselves and are typically unrelated to the exposures the Bank has with the entity and thus are not amounts that are considered for risk management purposes. Non-consolidated VIEs Financial intermediation CDO/ Securi- 6M20 (CHF million) Trading assets 198 5,176 934 81 7,513 13,902 Net loans 485 797 2,022 7,712 1,031 12,047 Other assets 14 79 121 0 543 757 Total variable interest assets 697 6,052 3,077 7,793 9,087 26,706 Maximum exposure to loss 764 7,636 3,077 11,675 9,559 32,711 Total assets of non-consolidated VIEs 7,498 165,338 119,389 28,657 26,137 347,019 2019 (CHF million) Trading assets 230 4,897 962 109 4,311 10,509 Net loans 456 904 1,945 7,930 709 11,944 Other assets 3 26 513 0 380 922 Total variable interest assets 689 5,827 3,420 8,039 5,400 23,375 Maximum exposure to loss 785 7,664 3,425 12,239 5,937 30,050 Total assets of non-consolidated VIEs 8,057 141,608 127,558 25,590 14,274 317,087 |
Financial instruments
Financial instruments | 6 Months Ended |
Jun. 30, 2020 | |
Financial instruments | 30 Financial instruments The disclosure of the Group’s financial instruments below includes the following sections: ■ ■ ■ ■ Concentrations of credit risk Credit risk concentrations arise when a number of counterparties are engaged in similar business activities, are located in the same geographic region or when there are similar economic features that would cause their ability to meet contractual obligations to be similarly impacted by changes in economic conditions. > Refer to “Note 35 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information on the Group’s concentrations of credit risk. Fair value measurement A significant portion of the Group’s financial instruments is carried at fair value. Deterioration of financial markets could significantly impact the fair value of these financial instruments and the results of operations. > Refer to “Note 35 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information on fair value measurement of financial instruments and the definition of the levels of the fair value hierarchy. Qualitative disclosures of valuation techniques Information on the valuation techniques and significant unobservable inputs of the various financial instruments and the sensitivity of fair value measurements to changes in significant unobservable inputs, should be read in conjunction with the tables “Quantitative information about level 3 assets at fair value” and “Quantitative information about level 3 liabilities at fair value”. > Refer to “Note 35 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for further information on the Group’s valuation techniques. Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 368 0 – – 368 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 78,448 0 – – 78,448 Securities received as collateral 36,103 6,206 170 – – 42,479 Trading assets 78,170 190,495 8,797 (121,242) 510 156,730 of which debt securities 16,139 51,625 3,198 – – 70,962 of which foreign governments 15,775 11,180 163 – – 27,118 of which corporates 41 9,431 1,642 – – 11,114 of which RMBS 0 28,377 1,102 – – 29,479 of which equity securities 52,379 2,201 142 – 510 55,232 of which derivatives 7,353 135,622 4,101 (121,242) – 25,834 of which interest rate products 2,940 83,790 639 – – – of which foreign exchange products 180 24,676 138 – – – of which equity/index-related products 4,220 21,252 1,067 – – – of which credit derivatives 0 4,928 1,172 – – – of which other derivatives 5 142 1,085 – – – of which other trading assets 2,299 1,047 1,356 – – 4,702 Investment securities 2 487 0 – – 489 Other investments 16 7 2,839 – 871 3,733 of which other equity investments 16 6 1,765 – 514 2,301 of which life finance instruments 0 1 1,066 – – 1,067 Loans 0 9,718 3,513 – – 13,231 of which commercial and industrial loans 0 3,624 1,473 – – 5,097 of which financial institutions 0 3,803 1,100 – – 4,903 of which government and public institutions 0 1,980 447 – – 2,427 Other intangible assets (mortgage servicing rights) 0 0 209 – – 209 Other assets 127 7,575 2,581 (962) – 9,321 of which loans held-for-sale 0 4,421 2,304 – – 6,725 Total assets at fair value 114,418 293,304 18,109 (122,204) 1,381 305,008 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 484 0 – – 484 Customer deposits 0 3,170 433 – – 3,603 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 17,379 0 – – 17,379 Obligation to return securities received as collateral 36,103 6,206 170 – – 42,479 Trading liabilities 31,233 138,714 3,727 (129,640) 6 44,040 of which debt securities 2,906 4,700 0 – – 7,606 of which foreign governments 3,395 415 0 – – 3,810 of which equity securities 20,717 207 70 – 6 21,000 of which derivatives 7,610 133,807 3,657 (129,640) – 15,434 of which interest rate products 2,886 81,916 211 – – – of which foreign exchange products 175 27,592 92 – – – of which equity/index-related products 4,531 18,117 1,401 – – – of which credit derivatives 0 5,191 1,558 – – – Short-term borrowings 0 11,599 480 – – 12,079 Long-term debt 0 60,307 8,491 – – 68,798 of which structured notes over one year and up to two years 0 11,783 756 – – 12,539 of which structured notes over two years 0 28,148 6,546 – – 34,694 of which high-trigger instruments 0 7,914 0 – – 7,914 of which non-recourse liabilities 0 1,148 655 – – 1,803 Other liabilities 3 6,301 1,201 (121) – 7,384 Total liabilities at fair value 67,339 244,160 14,502 (129,761) 6 196,246 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 356 0 – – 356 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 85,556 0 – – 85,556 Securities received as collateral 36,438 3,780 1 – – 40,219 Trading assets 85,559 157,151 7,885 (97,606) 808 153,797 of which debt securities 19,430 45,641 1,923 – – 66,994 of which foreign governments 19,281 7,484 198 – – 26,963 of which corporates 16 10,905 1,128 – – 12,049 of which RMBS 0 23,199 317 – – 23,516 of which equity securities 60,675 2,862 197 – 808 64,542 of which derivatives 3,539 108,264 3,534 (97,606) – 17,731 of which interest rate products 1,091 66,764 554 – – – of which foreign exchange products 23 21,754 152 – – – of which equity/index-related products 2,417 13,918 1,040 – – – of which credit derivatives 0 5,336 879 – – – of which other derivatives 5 66 909 – – – of which other trading assets 1,915 384 2,231 – – 4,530 Investment securities 2 1,004 0 – – 1,006 Other investments 24 5 2,523 – 998 3,550 of which other equity investments 24 5 1,463 – 589 2,081 of which life finance instruments 0 0 1,052 – – 1,052 Loans 0 8,945 3,717 – – 12,662 of which commercial and industrial loans 0 2,491 1,283 – – 3,774 of which financial institutions 0 3,730 1,201 – – 4,931 of which government and public institutions 0 2,200 831 – 3,031 Other intangible assets (mortgage servicing rights) 0 0 244 – – 244 Other assets 101 8,902 1,846 (447) – 10,402 of which loans held-for-sale 0 6,594 1,619 – – 8,213 Total assets at fair value 122,124 265,699 16,216 (98,053) 1,806 307,792 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 322 0 – – 322 Customer deposits 0 2,865 474 – – 3,339 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 10,715 0 – – 10,715 Obligation to return securities received as collateral 36,438 3,780 1 – – 40,219 Trading liabilities 23,010 115,062 3,854 (103,742) 2 38,186 of which debt securities 3,636 5,286 0 – – 8,922 of which foreign governments 3,544 345 0 – – 3,889 of which equity securities 15,628 109 53 – 2 15,792 of which derivatives 3,746 109,667 3,801 (103,742) – 13,472 of which interest rate products 1,101 64,643 167 – – – of which foreign exchange products 31 26,156 98 – – – of which equity/index-related products 2,603 12,518 1,921 – – – of which credit derivatives 0 5,963 1,211 – – – Short-term borrowings 0 10,336 997 – – 11,333 Long-term debt 0 57,721 12,610 – – 70,331 of which structured notes over one year and up to two years 0 9,291 891 – – 10,182 of which structured notes over two years 0 27,626 11,458 – – 39,084 of which high-trigger instruments 0 7,589 5 7,594 of which other subordinated bonds 0 5,502 0 – – 5,502 Other liabilities 0 6,654 1,385 (148) – 7,891 Total liabilities at fair value 59,448 207,455 19,321 (103,890) 2 182,336 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 1 0 0 173 (1) 0 0 0 0 0 0 0 0 (3) 170 0 Trading assets 7,885 2,489 (1,502) 4,272 (4,657) 1,290 (1,625) 169 796 (1) 0 0 0 (319) 8,797 1,076 of which debt securities 1,923 1,654 (708) 2,527 (2,000) 0 0 59 (122) 0 0 0 0 (135) 3,198 (19) of which foreign governments 198 32 (2) 33 (49) 0 0 1 (5) 0 0 0 0 (45) 163 (5) of which corporates 1,128 559 (564) 1,718 (1,230) 0 0 67 42 0 0 0 0 (78) 1,642 96 of which RMBS 317 902 (70) 557 (525) 0 0 (4) (70) 0 0 0 0 (5) 1,102 (55) of which equity securities 197 16 (21) 38 (18) 0 0 0 (67) 0 0 0 0 (3) 142 85 of which derivatives 3,534 719 (629) 0 0 1,290 (1,606) 111 834 (1) 0 0 0 (151) 4,101 999 of which interest rate products 554 99 (69) 0 0 81 (49) (22) 71 (1) 0 0 0 (25) 639 108 of which foreign exchange derivatives 152 21 (15) 0 0 9 (24) (2) 0 0 0 0 0 (3) 138 (5) of which equity/index-related products 1,040 220 (240) 0 0 345 (597) 35 345 0 0 0 0 (81) 1,067 361 of which credit derivatives 879 379 (305) 0 0 700 (771) 100 211 0 0 0 0 (21) 1,172 325 of which other derivatives 909 0 0 0 0 155 (165) 0 207 0 0 0 0 (21) 1,085 210 of which other trading assets 2,231 100 (144) 1,707 (2,639) 0 (19) (1) 151 0 0 0 0 (30) 1,356 11 Other investments 2,523 2 0 371 (107) 0 0 0 95 0 (19) 0 0 (26) 2,839 38 of which other equity investments 1,463 1 0 354 (19) 0 0 0 (11) 0 (18) 0 0 (5) 1,765 (35) of which life finance instruments 1,052 0 0 17 (88) 0 0 0 106 0 0 0 0 (21) 1,066 74 Loans 2 3,835 641 (375) 90 (479) 742 (569) 38 (336) 0 0 0 0 (74) 3,513 (296) of which commercial and industrial loans 2 1,401 390 (137) 45 (282) 447 (173) 3 (194) 0 0 0 0 (27) 1,473 (205) of which financial institutions 1,201 44 (94) 0 (32) 275 (211) 13 (70) 0 0 0 0 (26) 1,100 (77) of which government and public institutions 831 15 (144) 0 (163) 3 (56) 22 (47) 0 0 0 0 (14) 447 (8) Other intangible assets (mortgage servicing rights) 244 0 0 0 0 0 0 0 0 0 (31) 0 0 (4) 209 (31) Other assets 1,846 1,432 (383) 2,400 (2,260) 282 (543) 16 (60) 0 0 0 0 (149) 2,581 (6) of which loans held-for-sale 1,619 1,409 (339) 2,373 (2,259) 282 (543) (8) (87) 0 0 0 0 (143) 2,304 (87) Total assets at fair value 16,334 4,564 (2,260) 7,306 (7,504) 2,314 (2,737) 223 495 (1) (50) 0 0 (575) 18,109 781 Liabilities (CHF million) Customer deposits 474 0 0 0 0 0 (27) 0 35 0 0 0 (22) (27) 433 9 Obligation to return securities received as collateral 1 0 0 173 (1) 0 0 0 0 0 0 0 0 (3) 170 0 Trading liabilities 3,854 513 (904) 210 (195) 1,602 (1,276) 184 (151) (5) 0 0 0 (105) 3,727 577 of which equity securities 53 16 0 207 (189) 0 0 0 (15) 0 0 0 0 (2) 70 0 of which derivatives 3,801 497 (904) 0 (3) 1,602 (1,276) 184 (136) (5) 0 0 0 (103) 3,657 575 of which interest rate derivatives 167 37 (37) 0 0 16 (25) (1) 64 (5) 0 0 0 (5) 211 84 of which foreign exchange derivatives 98 2 (1) 0 0 10 (56) 0 42 0 0 0 0 (3) 92 47 of which equity/index-related derivatives 1,921 126 (493) 0 0 585 (486) 69 (262) 0 0 0 0 (59) 1,401 274 of which credit derivatives 1,211 333 (373) 0 0 896 (574) 117 (21) 0 0 0 0 (31) 1,558 135 Short-term borrowings 997 52 (200) 0 0 470 (706) (2) (118) 0 0 0 0 (13) 480 (40) Long-term debt 12,610 1,843 (5,514) 0 0 4,294 (3,614) 461 (1,241) 0 0 87 (166) (269) 8,491 (110) of which structured notes over one year and up to two years 891 186 (423) 0 0 632 (435) 28 (111) 0 0 1 5 (18) 756 (30) of which structured notes over two years 11,458 707 (5,077) 0 0 3,631 (3,140) 433 (1,138) 0 0 87 (170) (245) 6,546 (89) of which high-trigger instruments 5 0 0 0 0 0 (5) 0 0 0 0 0 0 0 0 0 Other liabilities 1,385 168 (112) 195 (227) 64 (289) (27) (15) 0 86 0 0 (27) 1,201 43 Total liabilities at fair value 19,321 2,576 (6,730) 578 (423) 6,430 (5,912) 616 (1,490) (5) 86 87 (188) (444) 14,502 479 Net assets/(liabilities) at fair value (2,987) 1,988 4,470 6,728 (7,081) (4,116) 3,175 (393) 1,985 4 (136) (87) 188 (131) 3,607 302 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M20, changes in net unrealized gains/(losses) of CHF 289 million and CHF (36) (49) 2 Includes an adjustment of CHF 118 million reflecting the impact of applying the fair value option on certain loans (previously held at amortized cost) at the adoption of the ASU 2019-05. Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 0 Trading assets 8,980 705 (1,697) 8,831 (9,435) 556 (838) (75) 721 0 0 0 0 (96) 7,652 710 of which debt securities 2,242 484 (874) 1,597 (1,777) 0 0 16 50 0 0 0 0 (27) 1,711 163 of which foreign governments 232 0 (43) 68 (56) 0 0 3 3 0 0 0 0 (1) 206 1 of which corporates 1,260 384 (568) 1,055 (1,234) 0 0 16 6 0 0 0 0 (18) 901 158 of which RMBS 432 52 (216) 421 (379) 0 0 (1) 41 0 0 0 0 (5) 345 0 of which equity securities 132 39 (37) 57 (38) 0 0 0 4 0 0 0 0 (2) 155 (1) of which derivatives 3,298 140 (417) 0 0 556 (818) (88) 405 0 0 0 0 (42) 3,034 507 of which interest rate products 507 23 (9) 0 0 52 (42) 2 (6) 0 0 0 0 (15) 512 (31) of which foreign exchange derivatives 258 11 (10) 0 0 8 (9) 0 (30) 0 0 0 0 (3) 225 (17) of which equity/index-related products 1,054 48 (333) 0 0 199 (259) (84) 133 0 0 0 0 (6) 752 289 of which credit derivatives 673 58 (65) 0 0 150 (360) (7) 211 0 0 0 0 (7) 653 140 of which other derivatives 806 0 0 0 0 147 (148) 1 97 0 0 0 0 (11) 892 126 of which other trading assets 3,308 42 (369) 7,177 (7,620) 0 (20) (3) 262 0 0 0 0 (25) 2,752 41 Other investments 1,309 48 (5) 33 (110) 0 0 0 100 0 6 0 0 (12) 1,369 207 of which life finance instruments 1,067 0 0 20 (88) 0 0 0 96 0 0 0 0 (10) 1,085 98 Loans 4,324 296 (320) 19 (190) 769 (726) 8 20 0 0 0 0 (37) 4,163 30 of which commercial and industrial loans 1,949 81 (184) 19 (118) 76 (198) 5 1 0 0 0 0 (13) 1,618 21 of which financial institutions 1,391 215 0 0 (71) 185 (503) (1) 15 0 0 0 0 (4) 1,227 14 of which government and public institutions 446 0 (58) 0 (1) 248 (14) 3 (9) 0 0 0 0 (10) 605 (15) of which real estate 515 0 (78) 0 0 260 (11) 1 10 0 0 0 0 (10) 687 10 Other intangible assets (mortgage servicing rights) 163 0 0 9 0 0 0 0 0 0 (7) 0 0 (3) 162 (7) Other assets 1,543 102 (178) 938 (808) 290 (178) 0 24 0 0 0 0 (15) 1,718 0 of which loans held-for-sale 1,235 96 (125) 903 (805) 290 (178) 1 45 0 0 0 0 (13) 1,449 10 Total assets at fair value 16,349 1,151 (2,200) 9,830 (10,569) 1,615 (1,742) (67) 865 0 (1) 0 0 (163) 15,068 940 Liabilities (CHF million) Customer deposits 453 0 0 0 0 0 0 0 31 0 0 0 32 (21) 495 31 Obligation to return securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 0 Trading liabilities 3,589 195 (405) 388 (402) 1,091 (1,483) 81 400 0 0 0 0 (35) 3,419 594 of which debt securities 25 9 (8) 12 (32) 0 0 0 0 0 0 0 0 0 6 0 of which equity securities 37 9 0 376 (368) 0 0 0 (1) 0 0 0 0 0 53 0 of which derivatives 3,527 177 (397) 0 (2) 1,091 (1,483) 81 401 0 0 0 0 (35) 3,360 594 of which interest rate derivatives 189 5 (2) 0 0 21 (17) 0 23 0 0 0 0 (3) 216 28 of which foreign exchange derivatives 160 14 (10) 0 0 2 (24) (1) (9) 0 0 0 0 1 133 (12) of which equity/index-related derivatives 1,500 77 (303) 0 0 380 (504) 78 239 0 0 0 0 (18) 1,449 539 of which credit derivatives 1,140 81 (81) 0 0 551 (782) 4 195 0 0 0 0 (11) 1,097 54 Short-term borrowings 784 122 (178) 0 0 789 (686) 6 175 0 0 0 0 (15) 997 44 Long-term debt 12,665 2,104 2 (2,607) 0 0 2,730 2 (2,387) 2 101 1,082 2 0 0 4 164 2 (167) 13,689 1,085 of which structured notes over one year and up to two years 528 315 (228) 0 0 544 (345) 11 58 0 0 0 9 (12) 880 37 of which structured notes over two years 11,800 1,774 (2,123) 0 0 1,974 (2,007) 77 1,006 0 0 4 156 (150) 12,511 1,050 of which high-trigger instruments 6 0 0 0 0 (2) 0 0 0 0 0 0 0 0 4 0 Other liabilities 1,341 37 (77) 35 (57) 75 (285) (6) 32 0 163 0 0 (11) 1,247 2 Total liabilities at fair value 2 18,862 2,458 (3,267) 423 (485) 4,685 (4,841) 182 1,720 0 163 4 196 (249) 19,851 1,756 Net assets/(liabilities) at fair value 2 (2,513) (1,307) 1,067 9,407 (10,084) (3,070) 3,099 (249) (855) 0 (164) (4) (196) 2 86 (4,783) (816) 2 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues. As of 6M19, changes in net unrealized gains/(losses) of CHF (925) 2 Prior period has been corrected. Both observable and unobservable inputs may be used to determine the fair value of positions that have been classified within level 3. As a result, the unrealized gains and losses for assets and liabilities within level 3 presented in the table above may include changes in fair value that were attributable to both observable and unobservable inputs. The Group employs various economic hedging techniques in order to manage risks, including risks in level 3 positions. Such techniques may include the purchase or sale of financial instruments that are classified in levels 1 and/or 2. The realized and unrealized gains and losses for assets and liabilities in level 3 presented in the table above do not reflect the related realized or unrealized gains and losses arising on economic hedging instruments classified in levels 1 and/or 2. The Group typically uses nonfinancial assets measured at fair value on a recurring or nonrecurring basis in a manner that reflects their highest and best use. Transfers in and out of level 3 Transfers into level 3 assets during 6M20 were CHF 4,564 million, primarily from trading assets, loans held-for-sale and loans. These transfers were primarily in the securitized products, credit and financing businesses due to limited observability of pricing data. Transfers out of level 3 assets during 6M20 were CHF 2,260 million, primarily in trading assets, loans and loans held-for-sale. These transfers were primarily in the credit, financing and equity derivatives businesses due to increased observability of pricing data and increased availability of pricing information from external providers. Transfers into level 3 assets during 2Q20 were CHF 1,611 million, primarily from trading assets, loans held-for-sale and loans. These transfers were primarily in the securitized products, credit and equity derivatives businesses due to limited observability of pricing data. Transfers out of level 3 assets during 2Q20 were CHF 1,466 million, primarily in trading assets, loans and loans held-for-sale. These transfers were primarily in the credit, financing and equity derivatives businesses due to increased observability of pricing data and increased availability of pricing information from external providers. Transfers out of level 3 liabilities of CHF 6,730 million in 6M20 and CHF 5,698 million in 2Q20 primarily reflected transfers of structured notes over two years arising from an enhancement to the assessment of the valuation significance of unobservable input parameters on equity linked issuances. Uncertainty of fair value measurements at the reporting date from the use of significant unobservable inputs For level 3 assets with significant unobservable inputs of buyback probability, correlation, credit curve volatility, funding spread, mortality rate, price, recovery rate, volatility or volatility skew, in general, an increase in the significant unobservable input would increase the fair value. For level 3 assets with significant unobservable inputs of credit spread, default rate, discount rate, gap risk, market implied life expectancy (for life settlement and premium finance instruments) or prepayment rate, in general, an increase in the significant unobservable input would decrease the fair value. For level 3 liabilities, in general, an increase in the related significant unobservable inputs would have an inverse impact on fair value. An increase in the significant unobservable inputs correlation, contingent probability, credit curve volatility, credit spread, gap risk, market implied life expectancy, price, recovery rate or volatility would increase the fair value. An increase in the significant unobservable inputs buyback probability, correlation, discount rate, fund gap risk, funding spread, mean reversion, mortality rate or prepayment rate would decrease the fair value. Interrelationships between significant unobservable inputs Except as noted above, there are no material interrelationships between the significant unobservable inputs for the financial instruments. As the significant unobservable inputs move independently, generally an increase or decrease in one significant unobservable input will have no impact on the other significant unobservable inputs. Quantitative disclosures of valuation techniques The following tables provide the representative range of minimum and maximum values and the associated weighted averages of each significant unobservable input for level 3 assets and liabilities by the related valuation technique most significant to the related financial instrument. Quantitative information about level 3 assets at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 170 – – – – – Trading assets 8,797 of which debt securities 3,198 of which foreign governments 163 Discounted cash flow Credit spread, in bp 76 76 76 of which corporates 1,642 of which 509 Discounted cash flow Credit spread, in bp (7) 1,558 606 of which 302 Market comparable Price, in % 0 207 104 of which 622 Option model Correlation, in % (50) 93 42 Gap risk, in % 0 2 0 Recovery rate, in % 40 40 40 Volatility, in % 0 213 27 of which 54 Vendor price Price, in actuals 0 1,373 1 of which RMBS 1,102 Discounted cash flow Default rate, in % 0 14 2 Discount rate, in % 1 40 7 Loss severity, in % 0 100 32 Prepayment rate, in % 0 35 9 of which equity securities 142 Vendor price Price, in actuals 0 35,399 327 of which derivatives 4,101 of which interest rate products 639 Option model Correlation, in % (1) 100 73 Prepayment rate, in % 1 27 9 Volatility, in % (30) 25 (2) Volatility skew, in % (3) 0 (2) of which foreign exchange products 138 Option model Correlation, in % 5 70 29 Prepayment rate, in % 23 27 25 of which equity/index-related products 1,067 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 93 55 Gap risk, in % 2 0 2 0 Volatility, in % (85) 213 16 of which credit derivatives 1,172 of which 1,026 Discounted cash flow Correlation, in % 97 97 97 Credit curve volatity, in % 60 103 89 Credit spread, in bp 0 3,286 994 Default rate, in % 1 5 3 Discount rate, in % 3 30 20 Funding spread, in bp 100 156 147 Loss severity, in % 10 95 58 Prepayment rate, in % 2 20 5 Recovery rate, in % 0 40 19 of which 95 Market comparable Price, in % 91 113 107 of which other derivatives 1,085 Discounted cash flow Market implied life expectancy, in years 2 15 6 Mortality rate, in % 71 134 97 of which other trading assets 1,356 of which 881 Discounted cash flow Market implied life expectancy, in years 3 14 8 of which 253 Market comparable Price, in % 0 106 24 of which 204 Option model Mortality rate, in % 0 70 6 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 2,839 of which other equity investments 1,765 of which 702 Discounted cash flow Discount rate, in % 9 9 9 Terminal growth rate, in % 3 3 3 of which 146 Market comparable Price, in % 100 100 100 of which 857 Vendor price Price, in actuals 1 912 282 of which life finance instruments 1,066 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 3,513 of which commercial and industrial loans 1,473 of which 912 Discounted cash flow Credit spread, in bp 99 2,243 944 Recovery rate, in % 25 40 29 of which 437 Market comparable Price, in % 10 100 66 of which financial institutions 1,100 of which 923 Discounted cash flow Credit spread, in bp 151 2,011 692 Recovery rate, in % 25 40 26 of which 167 Market comparable Price, in % 12 100 41 of which government and public institutions 447 of which 277 Discounted cash flow Credit spread, in bp 625 866 712 Recovery rate, in % 25 25 25 of which 157 Market comparable Price, in % 62 62 62 Other intangible assets (mortgage servicing rights) 209 – – – – – Other assets 2,581 of which loans held-for-sale 2,304 of which 323 Discounted cash flow Credit spread, in bp 117 651 385 Recovery rate, in % 0 40 24 of which 1,945 Market comparable Price, in % 0 130 88 Total level 3 assets at fair value 18,109 1 Weighted average is calculated based on the fair value of the instruments. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 1 – – – – – Trading assets 7,885 of which debt securities 1,923 of which foreign governments 198 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 1,128 of which 503 Market comparable Price, in % 0 129 97 of which 913 Option model Correlation, in % (60) 100 63 Gap risk, in % 0 2 0 Volatility, in % 0 275 27 of which RMBS 317 Discounted cash flow Default rate, in % 0 12 2 Discount rate, in % 1 36 13 Loss severity, in % 0 100 45 Prepayment rate, in % 2 45 10 of which equity securities 197 Vendor price Price, in actuals 0 36,760 383 of which derivatives 3,534 of which interest rate products 554 Option model Correlation, in % 0 100 69 Prepayment rate, in % 1 28 10 Volatility skew, in % (4) 6 (1) of which foreign exchange products 152 Option model Correlation, in % 5 70 30 Prepayment rate, in % 23 28 25 of which equity/index-related products 1,040 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 100 64 Gap risk, in % 2 0 2 0 Volatility, in % 0 275 30 of which credit derivatives 879 of which 691 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 2 1,033 150 Default rate, in % 1 20 4 Discount rate, in % 8 27 16 Funding spread, in bp 100 115 102 Loss severity, in % 29 85 69 Prepayment rate, in % 0 7 4 Recovery rate, in % 0 40 26 of which 142 Market comparable Price, in % 86 110 98 of which other derivatives 909 Discounted cash flow Market implied life expectancy, in years 2 15 6 Mortality rate, in % 71 134 97 of which other trading assets 2,231 of which 856 Discounted cash flow Market implied life expectancy, in years 2 15 7 of which 1,118 Market comparable Price, in % 0 112 27 of which 233 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 2,523 of which other equity investments 1,463 of which 398 Discounted cash flow Discount rate, in % 9 9 9 Terminal growth rate, in % 3 3 3 of which 147 Market comparable Price, in % 100 100 100 of which 857 Vendor price Price, in actuals 1 869 231 of which life finance instruments 1,052 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 3,717 of which commercial and industrial loans 1,283 of which 996 Discounted cash flow Credit spread, in bp 96 1,484 654 Recovery rate, in % 25 25 25 of which 273 Market comparable Price, in % 0 99 64 of which financial institutions 1,201 of which 984 Discounted cash flow Credit spread, in bp 111 1,261 412 Recovery rate, in % 25 25 25 of which 135 Market comparable Price, in % 16 100 36 of which government and public institutions 831 of which 468 Discounted cash flow Credit spread, in bp 457 526 500 Recovery rate, in % 25 40 30 of which 166 Market comparable Price, in % 62 62 62 Other intangible assets (mortgage servicing rights) 244 – – – – – Other assets 1,846 of which loans held-for-sale 1,619 of which 501 Discounted cash flow Credit spread, in bp 117 381 243 Recovery rate, in % 0 1 1 of which 1,026 Market comparable Price, in % 0 180 91 Total level 3 assets at fair value 16,216 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 liabilities at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 433 Option model Correlation, in % (6) 100 78 Credit spread, in bp 81 145 140 Mean reversion, in % 2 10 10 10 Obligation to return securities received as collateral 170 – – – – – Trading liabilities 3,727 of which equity securities 70 Vendor price Price, in actuals 0 323 1 of which derivatives 3,657 of which interest rate derivatives 211 Option model Correlation, in % (1) 100 65 Prepayment rate, in % 1 27 6 of which foreign exchange derivatives 92 of which 9 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 190 190 190 of which 54 Option model Correlation, in % 35 70 53 Prepayment rate, in % 23 27 25 of which equity/index-related derivatives 1,401 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 93 49 Volatility, in % (85) 213 24 of which credit derivatives 1,558 of which 922 Discounted cash flow Correlation, in % 38 45 41 Credit curve volatility, in % 62 102 78 Credit spread, in bp 1 5,394 475 Default rate, in % 0 5 2 Discount rate, in % 8 30 20 Funding spread, in bp 100 174 132 Loss severity, in % 0 95 59 Prepayment rate, in % 0 7 5 Recovery rate, in % 2 40 24 of which 586 Market comparable Price, in % 89 113 99 of which 16 Option model Correlation, in % 49 57 53 Credit spread, in bp 29 3,232 430 1 Weighted average is calculated based on the fair value of the instruments. 2 Management's best estimate of the speed at which interest rates will revert to the long-term average. 3 Estimate of probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Short-term borrowings 480 of which 68 Discounted cash flow Credit spread, in bp (28) 1,317 1,160 Recovery rate, in % 35 40 40 of which 304 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 93 51 Fund gap risk, in % 2 0 2 0 Volatility, in % 0 213 27 Long-term debt 8,491 of which structured notes over one year and up to two years 756 of which 42 Discounted cash flow Credit spread, in bp 0 141 61 Recovery rate, in % 25 25 25 of w |
Bank | |
Financial instruments | 29 Financial instruments > Refer to “Note 30 – Financial instruments” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 and to “Note 34 – Financial instruments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for further information. Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 368 0 – – 368 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 78,448 0 – – 78,448 Securities received as collateral 36,103 6,206 170 – – 42,479 Trading assets 78,208 190,604 8,797 (121,242) 510 156,877 of which debt securities 16,139 51,735 3,198 – – 71,072 of which foreign government 15,775 11,180 163 – – 27,118 of which corporates 41 9,541 1,642 – – 11,224 of which RMBS 0 28,377 1,102 – – 29,479 of which equity securities 52,416 2,201 142 – 510 55,269 of which derivatives 7,353 135,622 4,101 (121,242) – 25,834 of which interest rate products 2,940 83,790 639 – – – of which foreign exchange products 180 24,676 138 – – – of which equity/index-related products 4,220 21,252 1,067 – – – of which credit derivatives 0 4,928 1,172 – – – of which other derivatives 5 142 1,085 – – – of which other trading assets 2,300 1,046 1,356 – – 4,702 Investment securities 0 487 0 – – 487 Other investments 16 7 2,839 – 869 3,731 of which other equity investments 16 6 1,765 – 514 2,301 of which life finance instruments 0 1 1,066 – – 1,067 Loans 0 9,718 3,513 – – 13,231 of which commercial and industrial loans 0 3,624 1,473 – – 5,097 of which financial institutions 0 3,803 1,100 – – 4,903 of which government and public institutions 0 1,980 447 – – 2,427 Other intangible assets (mortgage servicing rights) 0 0 209 – – 209 Other assets 127 7,575 2,581 (962) – 9,321 of which loans held-for-sale 0 4,421 2,304 – – 6,725 Total assets at fair value 114,454 293,413 18,109 (122,204) 1,379 305,151 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 484 0 – – 484 Customer deposits 0 3,170 433 – – 3,603 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 17,473 0 – – 17,473 Obligation to return securities received as collateral 36,103 6,206 170 – – 42,479 Trading liabilities 31,233 138,801 3,727 (129,727) 6 44,040 of which debt securities 2,906 4,700 0 – – 7,606 of which foreign government 3,395 415 0 – – 3,810 of which equity securities 20,717 207 70 – 6 21,000 of which derivatives 7,610 133,894 3,657 (129,727) – 15,434 of which interest rate products 2,886 82,003 211 – – – of which foreign exchange products 175 27,592 92 – – – of which equity/index-related products 4,531 18,117 1,401 – – – of which credit derivatives 0 5,191 1,558 – – – Short-term borrowings 0 11,599 480 – – 12,079 Long-term debt 0 59,454 8,505 – – 67,959 of which structured notes over one year and up to two years 0 11,783 756 – – 12,539 of which structured notes over two years 0 28,148 6,546 – – 34,694 of which high-trigger instruments 0 7,917 0 – – 7,917 of which other subordinated bonds 0 7,205 345 – – 7,550 of which non-recourse liabilities 0 1,148 655 – – 1,803 Other liabilities 3 6,298 1,185 (121) – 7,365 Total liabilities at fair value 67,339 243,485 14,500 (129,848) 6 195,482 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 356 0 – – 356 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 85,556 0 – – 85,556 Securities received as collateral 36,438 3,780 1 – – 40,219 Trading assets 85,622 157,186 7,885 (97,606) 808 153,895 of which debt securities 19,430 45,677 1,923 – – 67,030 of which foreign government 19,281 7,484 198 – – 26,963 of which corporates 16 10,941 1,128 – – 12,085 of which RMBS 0 23,199 317 – – 23,516 of which equity securities 60,737 2,862 197 – 808 64,604 of which derivatives 3,539 108,263 3,534 (97,606) – 17,730 of which interest rate products 1,091 66,763 554 – – – of which foreign exchange products 23 21,754 152 – – – of which equity/index-related products 2,417 13,918 1,040 – – – of which credit derivatives 0 5,336 879 – – – of which other derivatives 5 66 909 – – – of which other trading assets 1,916 384 2,231 – – 4,531 Investment securities 0 1,004 0 – – 1,004 Other investments 24 5 2,523 – 996 3,548 of which other equity investments 24 5 1,463 – 589 2,081 of which life finance instruments 0 0 1,052 – – 1,052 Loans 0 8,945 3,716 – – 12,661 of which commercial and industrial loans 0 2,491 1,283 – – 3,774 of which financial institutions 0 3,730 1,201 – – 4,931 of which government and public institutions 0 2,200 830 3,030 Other intangible assets (mortgage servicing rights) 0 0 244 – – 244 Other assets 101 8,902 1,846 (447) – 10,402 of which loans held-for-sale 0 6,594 1,619 – – 8,213 Total assets at fair value 122,185 265,734 16,215 (98,053) 1,804 307,885 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 322 0 – – 322 Customer deposits 0 2,865 474 – – 3,339 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 10,823 0 – – 10,823 Obligation to return securities received as collateral 36,438 3,780 1 – – 40,219 Trading liabilities 23,009 115,107 3,854 (103,786) 2 38,186 of which debt securities 3,636 5,286 0 – – 8,922 of which foreign government 3,544 345 0 – – 3,889 of which equity securities 15,628 109 53 – 2 15,792 of which derivatives 3,745 109,712 3,801 (103,786) – 13,472 of which interest rate products 1,101 64,687 167 – – – of which foreign exchange products 31 26,156 98 – – – of which equity/index-related products 2,603 12,518 1,921 – – – of which credit derivatives 0 5,963 1,211 – – – Short-term borrowings 0 10,336 997 – – 11,333 Long-term debt 0 56,657 12,749 – – 69,406 of which structured notes over one year and up to two years 0 9,291 891 – – 10,182 of which structured notes over two years 0 27,626 11,458 – – 39,084 of which high-trigger instruments 0 7,621 5 7,626 of which other subordinated bonds 0 7,438 140 – – 7,578 Other liabilities 0 6,650 1,367 (148) – 7,869 Total liabilities at fair value 59,447 206,540 19,442 (103,934) 2 181,497 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 1 0 0 173 (1) 0 0 0 0 0 0 0 0 (3) 170 0 Trading assets 7,885 2,489 (1,502) 4,272 (4,657) 1,290 (1,625) 169 796 (1) 0 0 0 (319) 8,797 1,076 of which debt securities 1,923 1,654 (708) 2,527 (2,000) 0 0 59 (122) 0 0 0 0 (135) 3,198 (19) of which foreign governments 198 32 (2) 33 (49) 0 0 1 (5) 0 0 0 0 (45) 163 (5) of which corporates 1,128 559 (564) 1,718 (1,230) 0 0 67 42 0 0 0 0 (78) 1,642 96 of which RMBS 317 902 (70) 557 (525) 0 0 (4) (70) 0 0 0 0 (5) 1,102 (55) of which equity securities 197 16 (21) 38 (18) 0 0 0 (67) 0 0 0 0 (3) 142 85 of which derivatives 3,534 719 (629) 0 0 1,290 (1,606) 111 834 (1) 0 0 0 (151) 4,101 999 of which interest rate products 554 99 (69) 0 0 81 (49) (22) 71 (1) 0 0 0 (25) 639 108 of which foreign exchange derivatives 152 21 (15) 0 0 9 (24) (2) 0 0 0 0 0 (3) 138 (5) of which equity/index-related products 1,040 220 (240) 0 0 345 (597) 35 345 0 0 0 0 (81) 1,067 361 of which credit derivatives 879 379 (305) 0 0 700 (771) 100 211 0 0 0 0 (21) 1,172 325 of which other derivatives 909 0 0 0 0 155 (165) 0 207 0 0 0 0 (21) 1,085 210 of which other trading assets 2,231 100 (144) 1,707 (2,639) 0 (19) (1) 151 0 0 0 0 (30) 1,356 11 Other investments 2,523 2 0 371 (107) 0 0 0 95 0 (19) 0 0 (26) 2,839 38 of which other equity investments 1,463 1 0 354 (19) 0 0 0 (11) 0 (18) 0 0 (5) 1,765 (35) of which life finance instruments 1,052 0 0 17 (88) 0 0 0 106 0 0 0 0 (21) 1,066 74 Loans 2 3,835 641 (375) 90 (479) 742 (569) 38 (336) 0 0 0 0 (74) 3,513 (296) of which commercial and industrial loans 2 1,402 390 (137) 45 (282) 447 (173) 3 (194) 0 0 0 0 (28) 1,473 (205) of which financial institutions 1,201 44 (94) 0 (32) 275 (211) 13 (70) 0 0 0 0 (26) 1,100 (77) of which government and public institutions 830 15 (144) 0 (163) 3 (56) 22 (47) 0 0 0 0 (13) 447 (8) Other intangible assets (mortgage servicing rights) 244 0 0 0 0 0 0 0 0 0 (31) 0 0 (4) 209 (31) Other assets 1,846 1,432 (383) 2,400 (2,260) 282 (543) 16 (60) 0 0 0 0 (149) 2,581 (6) of which loans held-for-sale 1,619 1,409 (339) 2,373 (2,259) 282 (543) (8) (87) 0 0 0 0 (143) 2,304 (87) Total assets at fair value 16,334 4,564 (2,260) 7,306 (7,504) 2,314 (2,737) 223 495 (1) (50) 0 0 (575) 18,109 781 Liabilities (CHF million) Customer deposits 474 0 0 0 0 0 (27) 0 35 0 0 0 (22) (27) 433 9 Obligation to return securities received as collateral 1 0 0 173 (1) 0 0 0 0 0 0 0 0 (3) 170 0 Trading liabilities 3,854 513 (904) 210 (195) 1,602 (1,276) 184 (151) (5) 0 0 0 (105) 3,727 577 of which equity securities 53 16 0 207 (189) 0 0 0 (15) 0 0 0 0 (2) 70 0 of which derivatives 3,801 497 (904) 0 (3) 1,602 (1,276) 184 (136) (5) 0 0 0 (103) 3,657 575 of which interest rate derivatives 167 37 (37) 0 0 16 (25) (1) 64 (5) 0 0 0 (5) 211 84 of which foreign exchange derivatives 98 2 (1) 0 0 10 (56) 0 42 0 0 0 0 (3) 92 47 of which equity/index-related derivatives 1,921 126 (493) 0 0 585 (486) 69 (262) 0 0 0 0 (59) 1,401 274 of which credit derivatives 1,211 333 (373) 0 0 896 (574) 117 (21) 0 0 0 0 (31) 1,558 135 Short-term borrowings 997 52 (200) 0 0 470 (706) (2) (118) 0 0 0 0 (13) 480 (40) Long-term debt 12,749 1,720 (5,514) 0 0 4,294 (3,614) 461 (1,241) 0 0 87 (165) (272) 8,505 (107) of which structured notes over one year and up to two years 891 186 (423) 0 0 632 (435) 28 (111) 0 0 1 5 (18) 756 (30) of which structured notes over two years 11,458 707 (5,077) 0 0 3,631 (3,140) 433 (1,138) 0 0 87 (170) (245) 6,546 (89) of which high-trigger instruments 5 0 0 0 0 0 (5) 0 0 0 0 0 0 0 0 0 of which other subordinated bonds 140 210 0 0 0 0 0 0 0 0 0 (1) 0 (4) 345 3 of which non-recourse liabilities 34 617 (11) 0 0 31 (21) 0 5 0 0 0 0 0 655 5 Other liabilities 1,367 168 (112) 195 (227) 64 (283) (27) (17) 0 84 0 0 (27) 1,185 44 Total liabilities at fair value 19,442 2,453 (6,730) 578 (423) 6,430 (5,906) 616 (1,492) (5) 84 87 (187) (447) 14,500 483 Net assets/(liabilities) at fair value (3,108) 2,111 4,470 6,728 (7,081) (4,116) 3,169 (393) 1,987 4 (134) (87) 187 (128) 3,609 298 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M20, changes in net unrealized gains/(losses) of CHF 284 million and CHF (36) (50) 2 Includes an adjustment of CHF 119 million reflecting the impact of applying the fair value option on certain loans (previously held at amortized cost) at the adoption of the ASU 2019-05. Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 0 Trading assets 8,980 705 (1,697) 8,831 (9,435) 556 (838) (75) 721 0 0 0 0 (96) 7,652 710 of which debt securities 2,242 484 (874) 1,597 (1,777) 0 0 16 50 0 0 0 0 (27) 1,711 163 of which foreign governments 232 0 (43) 68 (56) 0 0 3 3 0 0 0 0 (1) 206 1 of which corporates 1,260 384 (568) 1,055 (1,234) 0 0 16 6 0 0 0 0 (18) 901 158 of which RMBS 432 52 (216) 421 (379) 0 0 (1) 41 0 0 0 0 (5) 345 0 of which equity securities 132 39 (37) 57 (38) 0 0 0 4 0 0 0 0 (2) 155 (1) of which derivatives 3,298 140 (417) 0 0 556 (818) (88) 405 0 0 0 0 (42) 3,034 507 of which interest rate products 507 23 (9) 0 0 52 (42) 2 (6) 0 0 0 0 (15) 512 (31) of which foreign exchange derivatives 258 11 (10) 0 0 8 (9) 0 (30) 0 0 0 0 (3) 225 (17) of which equity/index-related products 1,054 48 (333) 0 0 199 (259) (84) 133 0 0 0 0 (6) 752 289 of which credit derivatives 673 58 (65) 0 0 150 (360) (7) 211 0 0 0 0 (7) 653 140 of which other derivatives 806 0 0 0 0 147 (148) 1 97 0 0 0 0 (11) 892 126 of which other trading assets 3,308 42 (369) 7,177 (7,620) 0 (20) (3) 262 0 0 0 0 (25) 2,752 41 Other investments 1,309 48 (5) 33 (110) 0 0 0 100 0 6 0 0 (12) 1,369 207 of which life finance instruments 1,067 0 0 20 (88) 0 0 0 96 0 0 0 0 (10) 1,085 98 Loans 4,324 296 (320) 19 (190) 769 (726) 8 20 0 0 0 0 (37) 4,163 30 of which commercial and industrial loans 1,949 81 (184) 19 (118) 76 (198) 5 1 0 0 0 0 (13) 1,618 21 of which financial institutions 1,391 215 0 0 (71) 185 (503) (1) 15 0 0 0 0 (4) 1,227 14 of which real estate 515 0 (78) 0 0 260 (11) 1 10 0 0 0 0 (10) 687 10 Other intangible assets (mortgage servicing rights) 163 0 0 9 0 0 0 0 0 0 (7) 0 0 (3) 162 (7) Other assets 1,543 102 (178) 938 (808) 290 (178) 0 24 0 0 0 0 (15) 1,718 0 of which loans held-for-sale 1,235 96 (125) 903 (805) 290 (178) 1 45 0 0 0 0 (13) 1,449 10 Total assets at fair value 16,349 1,151 (2,200) 9,830 (10,569) 1,615 (1,742) (67) 865 0 (1) 0 0 (163) 15,068 940 Liabilities (CHF million) Customer deposits 453 0 0 0 0 0 0 0 31 0 0 0 32 (21) 495 31 Obligation to return securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 0 Trading liabilities 3,589 195 (405) 388 (402) 1,091 (1,483) 81 400 0 0 0 0 (35) 3,419 594 of which debt securities 25 9 (8) 12 (32) 0 0 0 0 0 0 0 0 0 6 0 of which equity securities 37 9 0 376 (368) 0 0 0 (1) 0 0 0 0 0 53 0 of which derivatives 3,527 177 (397) 0 (2) 1,091 (1,483) 81 401 0 0 0 0 (35) 3,360 594 of which interest rate derivatives 189 5 (2) 0 0 21 (17) 0 23 0 0 0 0 (3) 216 28 of which foreign exchange derivatives 160 14 (10) 0 0 2 (24) (1) (9) 0 0 0 0 1 133 (12) of which equity/index-related derivatives 1,500 77 (303) 0 0 380 (504) 78 239 0 0 0 0 (18) 1,449 539 of which credit derivatives 1,140 81 (81) 0 0 551 (782) 4 195 0 0 0 0 (11) 1,097 54 Short-term borrowings 784 122 (178) 0 0 789 (686) 6 175 0 0 0 0 (15) 997 44 Long-term debt 12,671 2,104 2 (2,483) 0 0 2,754 2 (2,387) 2 101 1,067 2 0 0 4 164 2 (169) 13,826 1,085 of which structured notes over one year and up to two years 528 315 (228) 0 0 544 (345) 11 58 0 0 0 9 (12) 880 37 of which structured notes over two years 11,800 1,774 (2,123) 0 0 1,974 (2,007) 77 1,006 0 0 4 156 (150) 12,511 1,050 of which high-trigger instruments 6 0 0 0 0 (1) 0 0 0 0 0 0 0 0 5 0 Other liabilities 1,327 37 (77) 35 (57) 75 (280) (6) 30 0 161 0 0 (11) 1,234 1 Total liabilities at fair value 18,854 2,458 (3,143) 423 (485) 4,709 (4,836) 182 1,703 0 161 4 196 (251) 19,975 1,755 Net assets/(liabilities) at fair value (2,505) (1,307) 943 9,407 (10,084) (3,094) 3,094 (249) (838) 0 (162) (4) (196) 88 (4,907) (815) 2 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues. As of 6M19, changes in net unrealized gains/(losses) of CHF (924) 2 Prior period has been corrected. Quantitative information about level 3 assets at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 170 – – – – – Trading assets 8,797 of which debt securities 3,198 of which foreign governments 163 Discounted cash flow Credit spread, in bp 76 76 76 of which corporates 1,642 of which 509 Discounted cash flow Credit spread, in bp (7) 1,558 606 of which 302 Market comparable Price, in % 0 207 104 of which 622 Option model Correlation, in % (50) 93 42 Gap risk, in % 2 0 2 0 Recovery rate, in % 40 40 40 Volatility, in % 0 213 27 of which 54 Vendor price Price, in actuals 0 1,373 1 of which RMBS 1,102 Discounted cash flow Default rate, in % 0 14 2 Discount rate, in % 1 40 7 Loss severity, in % 0 100 32 Prepayment rate, in % 0 35 9 of which equity securities 142 Vendor price Price, in actuals 0 35,399 327 of which derivatives 4,101 of which interest rate products 639 Option model Correlation, in % (1) 100 73 Prepayment rate, in % 1 27 9 Volatility, in % (30) 25 (2) Volatility skew, in % (3) 0 (2) of which foreign exchange products 138 Option model Correlation, in % 5 70 29 Prepayment rate, in % 23 27 25 of which equity/index-related products 1,067 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 93 55 Gap risk, in % 2 0 2 0 Volatility, in % (85) 213 16 of which credit derivatives 1,172 of which 1,026 Discounted cash flow Correlation, in % 97 97 97 Credit curve volatility, in % 60 103 89 Credit spread, in bp 0 3,286 994 Default rate, in % 1 5 3 Discount rate, in % 3 30 20 Funding spread, in bp 100 156 147 Loss severity, in % 10 95 58 Prepayment rate, in % 2 20 5 Recovery rate, in % 0 40 19 of which 95 Market comparable Price, in % 91 113 107 of which other derivatives 1,085 Discounted cash flow Market implied life expectancy, in years 2 15 6 Mortality rate, in % 71 134 97 of which other trading assets 1,356 of which 881 Discounted cash flow Market implied life expectancy, in years 3 14 8 of which 253 Market comparable Price, in % 0 106 24 of which 204 Option model Mortality rate, in % 0 70 6 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 2,839 of which other equity investments 1,765 of which 702 Discounted cash flow Discount rate, in % 9 9 9 Terminal growth rate, in % 3 3 3 of which 146 Market comparable Price, in % 100 100 100 of which 857 Vendor price Price, in actuals 1 912 282 of which life finance instruments 1,066 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 3,513 of which commercial and industrial loans 1,473 of which 912 Discounted cash flow Credit spread, in bp 99 2,243 944 Recovery rate, in % 25 40 29 of which 437 Market comparable Price, in % 10 100 66 of which financial institutions 1,100 of which 923 Discounted cash flow Credit spread, in bp 151 2,011 692 Recovery rate, in % 25 40 26 of which 167 Market comparable Price, in % 12 100 41 of which government and public institutions 447 of which 277 Discounted cash flow Credit spread, in bp 625 866 712 Recovery rate, in % 25 25 25 of which 157 Market comparable Price, in % 62 62 62 Other intangible assets (mortgage servicing rights) 209 – – – – – Other assets 2,581 of which loans held-for-sale 2,304 of which 323 Discounted cash flow Credit spread, in bp 117 651 385 Recovery rate, in % 0 40 24 of which 1,945 Market comparable Price, in % 0 130 68 Total level 3 assets at fair value 18,109 1 Weighted average is calculated based on the fair value of the instruments. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 1 – – – – – Trading assets 7,885 of which debt securities 1,923 of which foreign governments 198 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 1,128 of which 503 Market comparable Price, in % 0 129 97 of which 913 Option model Correlation, in % (60) 100 63 Gap risk, in % 2 0 2 0 Volatility, in % 0 275 27 of which RMBS 317 Discounted cash flow Default rate, in % 0 12 2 Discount rate, in % 1 36 13 Loss severity, in % 0 100 46 Prepayment rate, in % 2 45 10 of which equity securities 197 Vendor price Price, in actuals 0 36,760 383 of which derivatives 3,534 of which interest rate products 554 Option model Correlation, in % 0 100 69 Prepayment rate, in % 1 28 10 Volatility skew, in % (4) 6 (1) of which foreign exchange products 152 Option model Correlation, in % 5 70 30 Prepayment rate, in % 23 28 25 of which equity/index-related products 1,040 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 100 64 Gap risk, in % 2 0 2 0 Volatility, in % 0 275 30 of which credit derivatives 879 of which 691 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 2 1,033 150 Default rate, in % 1 20 4 Discount rate, in % 8 27 16 Funding spread, in bp 100 115 102 Loss severity, in % 29 85 69 Prepayment rate, in % 0 7 4 Recovery rate, in % 0 40 26 of which 142 Market comparable Price, in % 86 110 98 of which other derivatives 909 Discounted cash flow Market implied life expectancy, in years 2 15 6 Mortality rate, in % 71 134 97 of which other trading assets 2,231 of which 856 Discounted cash flow Market implied life expectancy, in years 2 15 7 of which 1,118 Market comparable Price, in % 0 112 27 of which 233 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 2,523 of which other equity investments 1,463 of which 398 Discounted cash flow Discount rate, in % 9 9 9 Terminal growth rate, in % 3 3 3 of which 147 Market comparable Price, in % 100 100 100 of which 857 Vendor price Price, in actuals 1 869 231 of which life finance instruments 1,052 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 3,716 of which commercial and industrial loans 1,283 of which 996 Discounted cash flow Credit spread, in bp 96 1,484 654 Recovery rate, in % 25 25 25 of which 273 Market comparable Price, in % 0 99 64 of which financial institutions 1,201 of which 984 Discounted cash flow Credit spread, in bp 111 1,261 412 Recovery rate, in % 25 25 25 of which 135 Market comparable Price, in % 16 100 36 of which government and public institutions 830 of which 468 Discounted cash flow Credit spread, in bp 457 526 500 Recovery rate, in % 25 40 30 of which 166 Market comparable Price, in % 62 62 62 Other intangible assets (mortgage servicing rights) 244 – – – – – Other assets 1,846 of which loans held-for-sale 1,619 of which 501 Discounted cash flow Credit spread, in bp 117 381 243 Recovery rate, in % 0 1 1 of which 1,026 Market comparable Price, in % 0 180 91 Total level 3 assets at fair value 16,215 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 liabilities at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 433 Option model Correlation, in % (6) 100 78 Credit spread, in bp 81 145 140 Mean revision, in % 2 10 10 10 Obligation to return securities received as collateral 170 – – – – – Trading liabilities 3,727 of which equity securities 70 Vendor price Price, in actuals 0 323 1 of which derivatives 3,657 of which interest rate derivatives 211 Option model Correlation, in % (1) 100 65 Prepayment rate, in % 1 27 6 of which foreign exchange derivatives 92 of which 9 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 190 190 190 of which 54 Option model Correlation, in % 35 70 53 Prepayment rate, in % 23 27 25 of which equity/index-related derivatives 1,401 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 93 49 Volatility, in % (85) 213 24 of which credit derivatives 1,558 of which 922 Discounted cash flow Correlation, in % 38 45 41 Credit curve volatility, in % 62 102 78 Credit spread, in bp 1 5,394 475 Default rate, in % 0 5 2 Discount rate, in % 8 30 20 Funding spread, in bp 100 174 132 Loss severity, in % 0 95 59 Prepayment rate, in % 0 7 5 Recovery rate, in % 2 40 24 of which 586 Market comparable Price, in % 89 113 99 of which 16 Option model Correlation, in % 49 57 53 Credit spread, in bp 29 3,232 430 1 Weighted average is calculated based on the fair value of the instruments. 2 Management's best estimate of the speed at which interest rates will revert to the long-term average. 3 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Short-term borrowings 480 of which 68 Discounted cash flow Credit spread, in bp (28) 1,317 1,160 Recovery rate, in % 35 40 40 of which 304 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 93 51 Fund gap risk, in % 2 0 2 0 Volatility, in % 0 213 27 Long-term debt 8,505 of which structured notes over one year and up to two years 756 of which 42 Discounted cash flow Credit spread, in bp 0 141 61 Recovery rate, in % 25 25 25 of which 574 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 93 49 Fund gap risk, in % 2 0 2 0 Volatility, in % 0 213 19 of which structured notes over two years 6,546 of which 1,601 Discounted cash flow Credit spread, in bp (28) 562 110 Recovery rate, in % 5 49 33 of which 13 Market comparable Price, in % 32 32 32 of which 4,802 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 93 45 Gap risk, in % 2 0 2 0 Mean reversion, in % 4 (10) 0 (6) Volatility, in % 0 213 23 of which other subordinated bonds 345 – – – – – of which non-recourse liabilities 655 Market comparable Price, in % 0 99 51 Other liabilities 1,185 – – – – – Total level 3 liabilities at fair value 14,500 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 3 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 474 Option model Correlation, in % 0 100 77 Credit spread, in bp 46 79 71 Mean revision, in % 2 10 10 10 Obligation to return securities received as collateral 1 – – – – – Trading liabilities 3,854 of which equity securities 53 Vendor price Price, in actuals 0 66 2 of which derivatives 3,801 of which interest rate derivatives 167 Option model Correlation, in % 0 100 47 Prepayment rate, in % 1 28 7 of which foreign exchange derivatives 98 of which 37 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 47 147 71 of which 12 Market comparable Price, in % 100 100 100 of which 47 Option model Correlation, in % 35 70 53 Prepayment rate, in % 23 28 25 of which equity/index-related derivatives 1,921 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (60) 100 66 Volatility, in % 0 275 26 of which credit derivatives 1,211 of which 745 Discounted cash flow Correlation, in % 38 45 44 Credit spread, in bp 2 1,041 142 Default rate, in % 1 20 4 Discount rate, in % 8 27 15 Funding spread, in bp 100 154 122 Loss severity, in % 29 85 69 Prepayment rate, in % 0 8 5 Recovery rate, in % 0 40 31 of which 412 Market comparable Price, in % 89 110 99 of which 23 Option model Correlation, in % 49 50 49 Credit spread, in bp 17 1,225 270 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Management's best estimate of the speed at which interest rates will revert to the long-term average. 3 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Short-term borrowings 997 of which 56 Discounted cash flow Credit spread, in bp (40) 937 138 Recovery rate, in % 40 40 40 of which 847 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 100 62 Fund gap risk, in % 2 0 2 0 Volatility, in % 1 275 39 Long-term debt 12,749 of which structured notes over one year and up to two years 891 of which 78 Discounted cash flow Credit spread, in bp (15) 3,206 246 Recovery rate, in % 25 25 25 of which 813 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 100 64 Fund gap risk, in % 2 0 2 0 Volatility, in % 1 275 36 of which structured notes over two years 11,458 of which 1,141 Discounted cash flow Credit spread, in bp (12) 1,260 40 Recovery rate, in % 25 40 29 of which 22 Market comparable Price, in % 43 46 43 of which 9,972 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (60) 100 63 Gap risk, in % 2 0 2 0 Mean reversion, in % 4 (55) 0 (7) Volatility, in % 0 275 26 of which high-trigger instruments 5 – – – – – of which other subordinated bonds 140 – – – – – Other liabilities 1,367 – – – – – Total level 3 liabilities at fair value 19,442 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 3 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Difference between the fair value and the unpaid principal balances of fair value option-elected financial instruments 6M20 2019 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 78,448 78,323 125 85,556 85,463 93 Loans 13,231 14,326 (1,095) 12,661 13,103 (442) Other assets 1 8,398 10,999 (2,601) 9,710 12,006 (2,296) Due to banks and customer deposits (627) (542) (85) (582) (508) (74) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (17,473) (17,474) 1 (10,823) (10,827) 4 Short-term borrowings (12,079) (12,523) 444 (11,333) (11,187) (146) Long-term debt (67,959) (73,956) 5,997 (69,406) (71,177) 1,771 Other liabilities (659) (1,667) 1,008 (709) (1,681) 972 Non-performing and non-interest-earning loans 2 904 |
Assets pledged and collateral
Assets pledged and collateral | 6 Months Ended |
Jun. 30, 2020 | |
Assets pledged and collateral | 31 Assets pledged and collateral The Group pledges assets mainly for repurchase agreements and other securities financing. Certain pledged assets may be encumbered, meaning they have the right to be sold or repledged. The encumbered assets are disclosed on the consolidated balance sheet. Assets pledged end of 2Q20 4Q19 CHF million Total assets pledged or assigned as collateral 137,134 133,333 of which encumbered 66,697 69,681 Collateral The Group receives cash and securities in connection with resale agreements, securities borrowing and loans, derivative transactions and margined broker loans. A significant portion of the collateral and securities received by the Group was sold or repledged in connection with repurchase agreements, securities sold not yet purchased, securities borrowings and loans, pledges to clearing organizations, segregation requirements under securities laws and regulations, derivative transactions and bank loans. Collateral end of 2Q20 4Q19 CHF million Fair value of collateral received with the right to sell or repledge 419,378 412,765 of which sold or repledged 186,730 185,935 |
Bank | |
Assets pledged and collateral | 30 Assets pledged and collateral > Refer to “Note 31 – Assets pledged and collateral” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 and to ”Note 35 – Assets pledged and collateral” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for further information. Assets pledged end of 6M20 2019 CHF million Total assets pledged or assigned as collateral 137,134 133,333 of which encumbered 66,697 69,681 Collateral end of 6M20 2019 CHF million Fair value of collateral received with the right to sell or repledge 419,378 412,765 of which sold or repledged 186,730 185,935 |
Litigation
Litigation | 6 Months Ended |
Jun. 30, 2020 | |
Litigation | 32 Litigation The Group is involved in a number of judicial, regulatory and arbitration proceedings concerning matters arising in connection with the conduct of its businesses. The Group’s material proceedings, related provisions and estimate of the aggregate range of reasonably possible losses that are not covered by existing provisions are described in Note 39 – Litigation in VI – Consolidated fi nancial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 The Group accrues loss contingency litigation provisions and takes a charge to income in connection with certain proceedings when losses, additional losses or ranges of loss are probable and reasonably estimable. The Group also accrues litigation provisions for the estimated fees and expenses of external lawyers and other service providers in relation to such proceedings, including in cases for which it has not accrued a loss contingency provision. The Group accrues these fee and expense litigation provisions and takes a charge to income in connection therewith when such fees and expenses are probable and reasonably estimable. The Group reviews its legal proceedings each quarter to determine the adequacy of its litigation provisions and may increase or release provisions based on management’s judgment and the advice of counsel. The establishment of additional provisions or releases of litigation provisions may be necessary in the future as developments in such proceedings warrant. The specific matters described include (a) proceedings where the Group has accrued a loss contingency provision, given that it is probable that a loss may be incurred and such loss is reasonably estimable; and (b) proceedings where the Group has not accrued such a loss contingency provision for various reasons, including, but not limited to, the fact that any related losses are not reasonably estimable. The description of certain of the matters includes a statement that the Group has established a loss contingency provision and discloses the amount of such provision; for the other matters no such statement is made. With respect to the matters for which no such statement is made, either (a) the Group has not established a loss contingency provision, in which case the matter is treated as a contingent liability under the applicable accounting standard, or (b) the Group has established such a provision but believes that disclosure of that fact would violate confidentiality obligations to which the Group is subject or otherwise compromise attorney-client privilege, work product protection or other protections against disclosure or compromise the Group’s management of the matter. The future outflow of funds in respect of any matter for which the Group has accrued loss contingency provisions cannot be determined with certainty based on currently available information, and accordingly may ultimately prove to be substantially greater (or may be less) than the provision that is reflected on the Group’s balance sheet. It is inherently difficult to determine whether a loss is probable or even reasonably possible or to estimate the amount of any loss or loss range for many of the Group’s legal proceedings. Estimates, by their nature, are based on judgment and currently available information and involve a variety of factors, including, but not limited to, the type and nature of the proceeding, the progress of the matter, the advice of counsel, the Group’s defenses and its experience in similar matters, as well as its assessment of matters, including settlements, involving other defendants in similar or related cases or proceedings. Factual and legal determinations, many of which are complex, must be made before a loss, additional losses or ranges of loss can be reasonably estimated for any proceeding. Most matters pending against the Group seek damages of an indeterminate amount. While certain matters specify the damages claimed, such claimed amount may not represent the Group’s reasonably possible losses. For certain of the proceedings discussed the Group has disclosed the amount of damages claimed and certain other quantifiable information that is publicly available. The Group’s aggregate litigation provisions include estimates of losses, additional losses or ranges of loss for proceedings for which such losses are probable and can be reasonably estimated. The Group does not believe that it can estimate an aggregate range of reasonably possible losses for certain of its proceedings because of their complexity, the novelty of some of the claims, the early stage of the proceedings, the limited amount of discovery that has occurred and/or other factors. The Group’s estimate of the aggregate range of reasonably possible losses that are not covered by existing provisions for the proceedings discussed in Note 39 referenced above and updated in quarterly reports (including below) for which the Group believes an estimate is possible is zero to CHF 1.3 billion. In 2Q20, the Group recorded net litigation provisions of CHF 120 million. After taking into account its litigation provisions, the Group believes, based on currently available information and advice of counsel, that the results of its legal proceedings, in the aggregate, will not have a material adverse effect on the Group’s financial condition. However, in light of the inherent uncertainties of such proceedings, including those brought by regulators or other governmental authorities, the ultimate cost to the Group of resolving such proceedings may exceed current litigation provisions and any excess may be material to its operating results for any particular period, depending, in part, upon the operating results for such period. Mortgage-related matters Civil litigation Individual investor actions On July 16, 2020, following a settlement, the Washington state court presiding in the investor action brought by the Federal Home Loan Bank of Seattle dismissed with prejudice all claims against Credit Suisse Securities (USA) LLC (CSS LLC) and its affiliates relating to approximately USD 145 million of RMBS at issue. Bank loan litigation On June 10, 2020, in the Texas state court case brought by entities related to Highland Capital Management LP (Highland) against CSS LLC and certain of its affiliates, Highland filed a motion for rehearing in the Texas Supreme Court. Rates-related matters Civil litigation USD LIBOR litigation On June 23, 2020, in one of the non-stayed putative class actions brought in the multi-district litigation in the US District Court for the Southern District of New York (SDNY), plaintiffs filed a notice of appeal. Foreign exchange litigation On July 17, 2020, in the consolidated putative class action filed in the SDNY alleging manipulation of the foreign exchange market on behalf of indirect purchasers of foreign exchange instruments, the court entered an order preliminarily approving a group settlement of USD 10 million with the remaining defendants, including Credit Suisse AG and an affiliate. The settlement remains subject to final approval by the court and a hearing is scheduled for November 2020. On May 28, 2020, in the civil action filed on November 13, 2018 in the SDNY, the court granted in part and denied in part defendants’ motion to dismiss the second amended complaint. On July 28, 2020, plaintiffs filed a third amended complaint. On April 14, 2020, in one of the putative class actions pending in Canada, the court granted in part and denied in part plaintiffs’ motion for class certification in the matter proceeding in Ontario, certifying a class comprising all persons in Canada who, between 2003 and 2013, entered into an FX instrument transaction with a defendant or through an intermediary. SSA bonds litigation On June 1, 2020, in the consolidated class action litigation brought in the SDNY relating to supranational, sub-sovereign and agency (SSA) bonds, plaintiffs filed a notice of appeal. On June 25, 2020, in the putative class action brought in the SDNY on behalf of indirect purchasers of US dollar SSA bonds, plaintiff voluntarily dismissed the lawsuit. Government-sponsored entity bonds litigation On June 16, 2020, in the consolidated putative class action brought in the SDNY alleging a conspiracy among financial institutions to fix prices for unsecured bonds issued by certain government-sponsored entities, the court issued an order granting final approval to all settlements, including the global settlement to which CSS LLC is a party. On July 13, 2020, in the civil action filed on September 23, 2019 in the US District Court for the Middle District of Louisiana alleging a conspiracy among financial institutions to fix prices for unsecured bonds issued by certain government-sponsored entities, plaintiff filed an amended complaint. On July 24, 2020, Credit Suisse AG and CSS LLC filed an answer. On June 26, 2020, in the civil action in the US District Court for the Eastern District of Louisiana alleging a conspiracy among financial institutions to fix prices for unsecured bonds issued by certain government-sponsored entities, CSS LLC and certain other defendants filed a partial motion to dismiss state law claims brought under the Louisiana Unfair Trade Practices Act. On July 17, 2020, the plaintiff filed a first amended complaint in response to the partial motion to dismiss. OTC trading cases On July 14, 2020, in the putative class action filed in the SDNY alleging a conspiracy among CSS LLC and other financial institutions to boycott electronic trading platforms and fix prices in the secondary market for odd-lot corporate bonds, plaintiff filed an amended complaint. ATA litigation On May 28, 2020, in the action filed on November 9, 2017 in the SDNY alleging claims under the United States Anti-Terrorism Act (ATA), plaintiffs filed a motion to appeal the court’s February 25, 2020 decision dismissing the case with prejudice as to Credit Suisse AG and the other moving bank defendants, which the moving defendants opposed on June 11, 2020. On June 5, 2020, the US District Court for the Eastern District of New York (EDNY) granted defendants’ motion to dismiss two of the ATA cases that were filed in December 2018 and April 2019 in the EDNY as to Credit Suisse AG and most of the other bank defendants. Customer account matters On July 3, 2020, in the civil lawsuit brought against a Credit Suisse affiliate, the Singapore Court of Appeals granted the plaintiffs’ appeal and lifted the stay of the civil proceedings, allowing the plaintiffs’ civil claim against the Credit Suisse affiliate to proceed in the Singapore High Court. On July 10, 2020, plaintiffs filed an amended statement of claim in the Singapore High Court. Mozambique matter Credit Suisse is continuing to respond to requests from regulatory and enforcement authorities regarding certain Credit Suisse entities’ participation in transactions involving Mozambique state enterprises, and is in ongoing dialogue with certain of these authorities regarding the nature of Credit Suisse’s role. Write-downs litigation On July 8, 2020, in the putative class action brought in the SDNY relating to write-downs in the fourth quarter of 2015 and the first quarter of 2016 and a decline in the market value of Credit Suisse Group AG American Depositary Receipts, the parties entered into an agreement to settle all claims for USD 15.5 million. A motion for preliminary approval of the proposed settlement was filed on July 10, 2020, and the court has scheduled a preliminary approval hearing for August 6, 2020. The settlement remains subject to final approval by the court. ETN-related litigation On April 14, 2020, in the individual action filed on March 29, 2019 in the SDNY by a purchaser of VelocityShares Daily Inverse VIX Short Term Exchange Traded Notes linked to the S&P 500 VIX Short-Term Futures Index due December 4, 2030 (XIV ETNs), plaintiff filed a motion for voluntary dismissal with prejudice of its appeal, which was granted by the Second Circuit on April 15, 2020. In the class action in the SDNY brought on behalf of a putative class of purchasers of VelocityShares Daily Inverse VIX Medium Term Exchange Traded Notes linked to the S&P 500 VIX Mid-Term Futures Index due December 4, 2030 (ZIV ETNs), plaintiffs did not appeal the decision by the SDNY to dismiss all claims against the defendants and the judgment is now final. |
Bank | |
Litigation | 31 Litigation > Refer to “Note 32 – Litigation” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q20 for further information. |
Subsidiary guarantee informatio
Subsidiary guarantee information | 6 Months Ended |
Jun. 30, 2020 | |
Subsidiary guarantee information [Text Block] | 33 Subsidiary guarantee information Certain wholly owned finance subsidiaries of the Group, including Credit Suisse Group Funding (Guernsey) Limited, which is a Guernsey incorporated non-cellular company limited by shares, have issued securities fully and unconditionally guaranteed by the Group. There are various legal and regulatory requirements, including the satisfaction of a solvency test under Guernsey law for the Guernsey subsidiary, applicable to some of the Group’s subsidiaries that may limit their ability to pay dividends or distributions and make loans and advances to the Group. The Group and the Bank have issued full, unconditional and several guarantees of Credit Suisse (USA), Inc.’s outstanding SEC-registered debt securities. In accordance with the guarantees, if Credit Suisse (USA), Inc. fails to make any timely payment under the agreements governing such debt securities, the holders of the debt securities may demand payment from either the Group or the Bank, without first proceeding against Credit Suisse (USA), Inc. The guarantee from the Group is subordinated to senior liabilities. Credit Suisse (USA), Inc. is an indirect, wholly owned subsidiary of the Group. Condensed consolidating statements of operations Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 600 2,985 3,585 403 (399) 3,589 Interest expense (647) (1,370) (2,017) (407) 405 (2,019) Net interest income (47) 1,615 1,568 (4) 6 1,570 Commissions and fees 967 1,929 2,896 5 (21) 2,880 Trading revenues 156 1,071 1,227 (1) 28 1,254 Other revenues 766 (227) 539 1,206 2 (1,255) 490 Net revenues 1,842 4,388 6,230 1,206 (1,242) 6,194 Provision for credit losses 11 281 292 0 4 296 Compensation and benefits 726 1,637 2,363 31 200 2,594 General and administrative expenses 434 1,339 1,773 15 (348) 1,440 Commission expenses 51 262 313 2 (2) 313 Total other operating expenses 485 1,601 2,086 17 (350) 1,753 Total operating expenses 1,211 3,238 4,449 48 (150) 4,347 Income/(loss) before taxes 620 869 1,489 1,158 (1,096) 1,551 Income tax expense/(benefit) 185 185 370 (4) 25 391 Net income/(loss) 435 684 1,119 1,162 (1,121) 1,160 Net income/(loss) attributable to noncontrolling interests 0 (2) (2) 0 0 (2) Net income/(loss) attributable to shareholders 435 686 1,121 1,162 (1,121) 1,162 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income Bank 1 Comprehensive income (CHF million) Net income/(loss) 435 684 1,119 1,162 (1,121) 1,160 Gains/(losses) on cash flow hedges 0 17 17 0 1 18 Foreign currency translation (245) (178) (423) 12 (22) (433) Unrealized gains/(losses) on securities 0 (18) (18) 0 0 (18) Actuarial gains/(losses) 1 4 5 0 68 73 Net prior service credit/(cost) 0 (1) (1) 0 (33) (34) Gains/(losses) on liabilities related to credit risk (63) (2,512) (2,575) (88) 5 (2,658) Other comprehensive income/(loss), net of tax (307) (2,688) (2,995) (76) 19 (3,052) Comprehensive income/(loss) 128 (2,004) (1,876) 1,086 (1,102) (1,892) Comprehensive income/(loss) attributable to noncontrolling interests (1) (9) (10) 0 8 (2) Comprehensive income/(loss) attributable to shareholders 129 (1,995) (1,866) 1,086 (1,110) (1,890) 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,016 4,639 5,655 311 (313) 5,653 Interest expense (1,096) (2,552) (3,648) (322) 318 (3,652) Net interest income (80) 2,087 2,007 (11) 5 2,001 Commissions and fees 912 1,992 2,904 5 18 2,927 Trading revenues 221 10 231 (54) 5 182 Other revenues 512 22 534 1,020 2 (1,083) 471 Net revenues 1,565 4,111 5,676 960 (1,055) 5,581 Provision for credit losses 3 22 25 0 0 25 Compensation and benefits 698 1,607 2,305 30 210 2,545 General and administrative expenses 459 1,304 1,763 (7) (361) 1,395 Commission expenses 44 269 313 0 1 314 Total other operating expenses 503 1,573 2,076 (7) (360) 1,709 Total operating expenses 1,201 3,180 4,381 23 (150) 4,254 Income/(loss) before taxes 361 909 1,270 937 (905) 1,302 Income tax expense 140 199 339 0 26 365 Net income/(loss) 221 710 931 937 (931) 937 Net income/(loss) attributable to noncontrolling interests 3 1 4 0 (4) 0 Net income/(loss) attributable to shareholders 218 709 927 937 (927) 937 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 221 710 931 937 (931) 937 Gains/(losses) on cash flow hedges 0 45 45 (1) (1) 43 Foreign currency translation (323) (255) (578) (1) (13) (592) Unrealized gains/(losses) on securities 0 12 12 0 0 12 Actuarial gains/(losses) 4 0 4 0 382 386 Net prior service credit/(cost) 0 0 0 0 306 306 Gains/(losses) on liabilities related to credit risk (16) (200) (216) (19) 4 (231) Other comprehensive income/(loss), net of tax (335) (398) (733) (21) 678 (76) Comprehensive income/(loss) (114) 312 198 916 (253) 861 Comprehensive income/(loss) attributable to noncontrolling interests 1 (11) (10) 0 7 (3) Comprehensive income/(loss) attributable to shareholders (115) 323 208 916 (260) 864 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,340 6,527 7,867 756 (739) 7,884 Interest expense (1,479) (3,284) (4,763) (763) 746 (4,780) Net interest income (139) 3,243 3,104 (7) 7 3,104 Commissions and fees 1,769 4,047 5,816 10 (19) 5,807 Trading revenues 276 1,829 2,105 5 71 2,181 Other revenues 1,261 (271) 990 2,509 2 (2,621) 878 Net revenues 3,167 8,848 12,015 2,517 (2,562) 11,970 Provision for credit losses 20 840 860 0 4 864 Compensation and benefits 1,317 3,103 4,420 39 451 4,910 General and administrative expenses 887 2,608 3,495 3 (712) 2,786 Commission expenses 106 552 658 2 (2) 658 Total other operating expenses 993 3,160 4,153 5 (714) 3,444 Total operating expenses 2,310 6,263 8,573 44 (263) 8,354 Income/(loss) before taxes 837 1,745 2,582 2,473 (2,303) 2,752 Income tax expense/(benefit) 191 53 244 (3) 40 281 Net income/(loss) 646 1,692 2,338 2,476 (2,343) 2,471 Net income/(loss) attributable to noncontrolling interests (4) 8 4 0 (9) (5) Net income/(loss) attributable to shareholders 650 1,684 2,334 2,476 (2,334) 2,476 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 646 1,692 2,338 2,476 (2,343) 2,471 Gains/(losses) on cash flow hedges 0 243 243 0 0 243 Foreign currency translation (337) (674) (1,011) 12 (30) (1,029) Unrealized gains/(losses) on securities 0 (20) (20) 0 0 (20) Actuarial gains/(losses) 3 4 7 0 139 146 Net prior service credit/(cost) 0 0 0 0 (68) (68) Gains/(losses) on liabilities related to credit risk 66 1,548 1,614 71 7 1,692 Other comprehensive income/(loss), net of tax (268) 1,101 833 83 48 964 Comprehensive income/(loss) 378 2,793 3,171 2,559 (2,295) 3,435 Comprehensive income/(loss) attributable to noncontrolling interests (5) (4) (9) 0 3 (6) Comprehensive income/(loss) attributable to shareholders 383 2,797 3,180 2,559 (2,298) 3,441 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 2,014 8,462 10,476 611 (616) 10,471 Interest expense (2,158) (4,763) (6,921) (635) 618 (6,938) Net interest income (144) 3,699 3,555 (24) 2 3,533 Commissions and fees 1,616 3,867 5,483 11 45 5,539 Trading revenues 426 661 1,087 (64) (1) 1,022 Other revenues 996 (10) 986 1,797 2 (1,909) 874 Net revenues 2,894 8,217 11,111 1,720 (1,863) 10,968 Provision for credit losses 9 97 106 0 0 106 Compensation and benefits 1,430 3,179 4,609 48 406 5,063 General and administrative expenses 908 2,600 3,508 (14) (686) 2,808 Commission expenses 95 532 627 0 0 627 Total other operating expenses 1,003 3,132 4,135 (14) (686) 3,435 Total operating expenses 2,433 6,311 8,744 34 (280) 8,498 Income/(loss) before taxes 452 1,809 2,261 1,686 (1,583) 2,364 Income tax expense/(benefit) 180 521 701 0 (23) 678 Net income/(loss) 272 1,288 1,560 1,686 (1,560) 1,686 Net income/(loss) attributable to noncontrolling interests 3 4 7 0 (7) – Net income/(loss) attributable to shareholders 269 1,284 1,553 1,686 (1,553) 1,686 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 272 1,288 1,560 1,686 (1,560) 1,686 Gains/(losses) on cash flow hedges 0 93 93 (3) (1) 89 Foreign currency translation (147) (244) (391) 2 (4) (393) Unrealized gains/(losses) on securities 0 27 27 0 (1) 26 Actuarial gains/(losses) 6 2 8 0 438 446 Net prior service credit/(cost) 0 0 0 0 282 282 Gains/(losses) on liabilities related to credit risk (53) (1,185) (1,238) (48) (66) (1,352) Other comprehensive income/(loss), net of tax (194) (1,307) (1,501) (49) 648 (902) Comprehensive income/(loss) 78 (19) 59 1,637 (912) 784 Comprehensive income/(loss) attributable to noncontrolling interests 2 (2) 0 0 (1) (1) Comprehensive income/(loss) attributable to shareholders 76 (17) 59 1,637 (911) 785 1 Includes eliminations and consolidation adjustments. Condensed consolidating balance sheets Bank 1 Assets (CHF million) Cash and due from banks 2,678 128,614 131,292 293 485 132,070 Interest-bearing deposits with banks 8 1,168 1,176 480 (471) 1,185 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 37,319 67,571 104,890 0 0 104,890 Securities received as collateral 1,874 40,605 42,479 0 0 42,479 Trading assets 30,703 126,174 156,877 0 (147) 156,730 Investment securities 0 582 582 41,352 (41,350) 584 Other investments 578 5,236 5,814 53,025 (52,991) 5,848 Net loans 11,991 289,936 301,927 0 (7,615) 294,312 Goodwill 701 3,278 3,979 0 697 4,676 Other intangible assets 240 33 273 0 0 273 Brokerage receivables 17,842 26,447 44,289 0 (2) 44,287 Other assets 12,855 25,056 37,911 755 2,480 41,146 Total assets 116,789 714,700 831,489 95,905 (98,914) 828,480 Liabilities and equity (CHF million) Due to banks 80 17,938 18,018 1,758 (1,758) 18,018 Customer deposits 1 390,092 390,093 0 (1,098) 388,995 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 8,114 22,569 30,683 0 (94) 30,589 Obligation to return securities received as collateral 1,874 40,605 42,479 0 0 42,479 Trading liabilities 9,497 34,543 44,040 0 0 44,040 Short-term borrowings 6,363 21,498 27,861 0 (475) 27,386 Long-term debt 47,645 120,909 168,554 47,035 (46,163) 169,426 Brokerage payables 15,987 15,924 31,911 0 (2) 31,909 Other liabilities 10,116 17,694 27,810 577 400 28,787 Total liabilities 99,677 681,772 781,449 49,370 (49,190) 781,629 Total shareholders' equity 17,057 32,097 49,154 46,535 (49,154) 46,535 Noncontrolling interests 55 831 886 0 (570) 316 Total equity 17,112 32,928 50,040 46,535 (49,724) 46,851 Total liabilities and equity 116,789 714,700 831,489 95,905 (98,914) 828,480 1 Includes eliminations and consolidation adjustments. Condensed consolidating balance sheets (continued) Bank 1 Assets (CHF million) Cash and due from banks 2,642 98,402 101,044 277 558 101,879 Interest-bearing deposits with banks 10 663 673 489 (421) 741 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 26,905 80,092 106,997 0 0 106,997 Securities received as collateral 2,921 37,298 40,219 0 0 40,219 Trading assets 35,339 118,556 153,895 1 (99) 153,797 Investment securities 0 1,004 1,004 32,853 (32,851) 1,006 Other investments 621 5,013 5,634 49,780 (49,748) 5,666 Net loans 11,907 292,118 304,025 0 (7,246) 296,779 Goodwill 715 3,245 3,960 0 703 4,663 Other intangible assets 276 15 291 0 0 291 Brokerage receivables 17,012 18,636 35,648 0 0 35,648 Other assets 12,843 24,226 37,069 625 1,915 39,609 Total assets 111,191 679,268 790,459 84,025 (87,189) 787,295 Liabilities and equity (CHF million) Due to banks 63 16,679 16,742 2,287 (2,285) 16,744 Customer deposits 1 384,949 384,950 0 (1,167) 383,783 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 5,799 21,842 27,641 0 (108) 27,533 Obligation to return securities received as collateral 2,921 37,298 40,219 0 0 40,219 Trading liabilities 8,468 29,718 38,186 0 0 38,186 Short-term borrowings 8,720 20,149 28,869 0 (484) 28,385 Long-term debt 43,821 107,179 151,000 37,596 (36,591) 152,005 Brokerage payables 15,213 10,470 25,683 0 0 25,683 Other liabilities 9,414 20,992 30,406 498 139 31,043 Total liabilities 94,420 649,276 743,696 40,381 (40,496) 743,581 Total shareholders' equity 16,713 29,407 46,120 43,644 (46,120) 43,644 Noncontrolling interests 58 585 643 0 (573) 70 Total equity 16,771 29,992 46,763 43,644 (46,693) 43,714 Total liabilities and equity 111,191 679,268 790,459 84,025 (87,189) 787,295 1 Includes eliminations and consolidation adjustments. Condensed consolidating statement of cash flows Bank 1 Operating activities (CHF million) Net cash provided by/(used in) operating activities 6,975 (9,696) (2,721) (44) 2 210 (2,555) Investing activities (CHF million) (Increase)/decrease in interest-bearing deposits with banks 1 (472) (471) 10 50 (411) (Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions (11,129) 10,230 (899) 0 0 (899) Purchase of investment securities 0 (259) (259) (9,946) 9,946 (259) Proceeds from sale of investment securities 0 626 626 0 0 626 Maturities of investment securities 0 51 51 0 0 51 Investments in subsidiaries and other investments (7) (64) (71) 0 0 (71) Proceeds from sale of other investments 60 353 413 0 0 413 (Increase)/decrease in loans (331) (2,671) (3,002) 0 379 (2,623) Proceeds from sales of loans 0 2,319 2,319 0 0 2,319 Capital expenditures for premises and equipment and other intangible assets (143) (341) (484) 0 (69) (553) Proceeds from sale of premises and equipment and other intangible assets 0 23 23 0 0 23 Other, net 6 82 88 0 0 88 Net cash provided by/(used in) investing activities (11,543) 9,877 (1,666) (9,936) 10,306 (1,296) Financing activities (CHF million) Increase/(decrease) in due to banks and customer deposits 19 9,576 9,595 (529) 591 9,657 Increase/(decrease) in short-term borrowings (2,222) 2,623 401 0 (553) (152) Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 2,470 1,237 3,707 0 11 3,718 Issuances of long-term debt 115,410 (74,318) 41,092 10,946 (10,699) 41,339 Repayments of long-term debt (110,990) 91,176 (19,814) 0 0 (19,814) Sale of treasury shares 0 0 0 0 4,003 4,003 Repurchase of treasury shares 0 0 0 (488) (4,011) (4,499) Dividends paid 0 (10) (10) (358) 10 (358) Other, net (30) 489 459 425 107 991 Net cash provided by/(used in) financing activities 4,657 30,773 35,430 9,996 (10,541) 34,885 Effect of exchange rate changes on cash and due from banks (CHF million) Effect of exchange rate changes on cash and due from banks (53) (742) (795) 0 (48) (843) Net increase/(decrease) in cash and due from banks (CHF million) Net increase/(decrease) in cash and due from banks 36 30,212 30,248 16 (73) 30,191 Cash and due from banks at beginning of period 3 2,642 98,402 101,044 277 558 101,879 Cash and due from banks at end of period 3 2,678 128,614 131,292 293 485 132,070 1 Includes eliminations and consolidation adjustments. 2 Consists of dividend payments from Group companies of CHF 10 million and CHF 8 million from bank and non-bank subsidiaries, respectively, and other cash items from parent company operations such as Group financing. 3 Includes restricted cash. Condensed consolidating statement of cash flows (continued) Bank 1 Operating activities (CHF million) Net cash provided by/(used in) operating activities 738 (3,240) (2,502) (111) 2 (847) (3,460) Investing activities (CHF million) (Increase)/decrease in interest-bearing deposits with banks 12 225 237 5 (6) 236 (Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions (3,428) 6,348 2,920 0 0 2,920 Purchase of investment securities 0 (307) (307) (3,517) 3,517 (307) Proceeds from sale of investment securities 0 4 4 0 0 4 Maturities of investment securities 0 394 394 0 0 394 Investments in subsidiaries and other investments (40) (107) (147) (5) 5 (147) Proceeds from sale of other investments 317 251 568 25 (1) 592 (Increase)/decrease in loans (419) (10,646) (11,065) 0 1,198 (9,867) Proceeds from sales of loans 0 2,460 2,460 0 0 2,460 Capital expenditures for premises and equipment and other intangible assets (144) (327) (471) 0 (83) (554) Proceeds from sale of premises and equipment and other intangible assets 0 29 29 0 0 29 Other, net 40 182 222 0 0 222 Net cash provided by/(used in) investing activities (3,662) (1,494) (5,156) (3,492) 4,630 (4,018) Financing activities (CHF million) Increase/(decrease) in due to banks and customer deposits 37 4,872 4,909 405 (317) 4,997 Increase/(decrease) in short-term borrowings (228) 4,119 3,891 0 (47) 3,844 Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (228) (4,628) (4,856) 0 (111) (4,967) Issuances of long-term debt 106,285 (91,626) 14,659 4,217 (4,239) 14,637 Repayments of long-term debt (102,644) 84,040 (18,604) 0 0 (18,604) Sale of treasury shares 0 0 0 3 4,717 4,720 Repurchase of treasury shares 0 0 0 (1,013) (4,705) (5,718) Dividends paid (1) (10) (11) (695) 10 (696) Other, net (126) 406 280 626 948 1,854 Net cash provided by/(used in) financing activities 3,095 (2,827) 268 3,543 (3,744) 67 Effect of exchange rate changes on cash and due from banks (CHF million) Effect of exchange rate changes on cash and due from banks (24) (126) (150) 0 3 (147) Net increase/(decrease) in cash and due from banks (CHF million) Net increase/(decrease) in cash and due from banks 147 (7,687) (7,540) (60) 42 (7,558) Cash and due from banks at beginning of period 3 2,540 96,774 99,314 324 409 100,047 Cash and due from banks at end of period 3 2,687 89,087 91,774 264 451 92,489 1 Includes eliminations and consolidation adjustments. 2 Consists of dividend payments from Group companies of CHF 10 million and CHF 14 million from bank and non-bank subsidiaries, respectively, and other cash items from parent company operations such as Group financing. 3 Includes restricted cash. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Basis of presentation | Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse Group AG (the Group) are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2019 included in the Credit Suisse Annual Report 2019. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2019 for a description of the Group’s significant accounting policies, except as outlined in “Note 15 – Investment securities” and “Note 18 – Financial instruments measured at amortized cost and credit losses”, which reflect changes in policies relating to the adoption of Accounting Standards Update (ASU) 2016-13, “Measurement of Credit Losses on Financial Instruments” (ASU 2016-13) and subsequent amendments, which were adopted as of January 1, 2020. Certain financial information, which is normally included in annual consolidated financial statements prepared in accordance with US GAAP, but not required for interim reporting purposes, has been condensed or omitted. Certain reclassifications have been made to the prior period’s consolidated financial statements to conform to the current period’s presentation. These condensed consolidated financial statements reflect, in the opinion of management, all adjustments that are necessary for a fair presentation of the condensed consolidated financial statements for the periods presented. The 1Q20 consolidated statements of operations and comprehensive income, the 1Q20 consolidated balance sheet and the 1Q20 consolidated statement of changes in equity have been added for the convenience of the reader and are not a required presentation under US GAAP. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Bank | |
Basis of presentation | Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse AG (the Bank), the direct bank subsidiary of Credit Suisse Group AG (the Group), are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2019, included in the Credit Suisse Group AG & Credit Suisse AG Annual Report 2019 (Credit Suisse Annual Report 2019). In addition, these condensed consolidated financial statements make references to the Group’s condensed consolidated financial statements in its 2Q20 and 1Q20 Financial Reports and the Group’s consolidated financial statements in the Credit Suisse Annual Report 2019. > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2019 for a description of the Bank’s significant accounting policies. Certain financial information, which is normally included in annual consolidated financial statements prepared in accordance with US GAAP, but not required for interim reporting purposes, has been condensed or omitted. Certain reclassifications have been made to the prior period’s consolidated financial statements to conform to the current period’s presentation. These condensed consolidated financial statements reflect, in the opinion of management, all adjustments that are necessary for a fair presentation of the condensed consolidated financial statements for the periods presented. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Segment information (Tables)
Segment information (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Net revenues and income/(loss) from continuing operations before taxes and total assets by segment | Net revenues and income/(loss) before taxes in 2Q20 1Q20 2Q19 6M20 6M19 Net revenues (CHF million) Swiss Universal Bank 1,504 1,509 1,476 3,013 2,855 International Wealth Management 1,274 1,502 1,369 2,776 2,786 Asia Pacific 1,064 1,025 913 2,089 1,767 Global Markets 1,901 1,630 1,553 3,531 3,025 Investment Banking & Capital Markets 702 183 454 885 810 Corporate Center (251) (73) (184) (324) (275) Net revenues 6,194 5,776 5,581 11,970 10,968 Income/(loss) before taxes (CHF million) Swiss Universal Bank 687 589 654 1,276 1,204 International Wealth Management 348 537 444 885 967 Asia Pacific 298 252 237 550 420 Global Markets 591 330 357 921 639 Investment Banking & Capital Markets 202 (378) 6 (176) (87) Corporate Center (575) (129) (396) (704) (779) Income/(loss) before taxes 1,551 1,201 1,302 2,752 2,364 Total assets end of 2Q20 1Q20 4Q19 Total assets (CHF million) Swiss Universal Bank 239,966 237,733 232,729 International Wealth Management 97,067 93,262 93,059 Asia Pacific 101,719 102,109 107,660 Global Markets 213,114 241,242 214,019 Investment Banking & Capital Markets 26,728 24,466 17,819 Corporate Center 149,886 133,354 122,009 Total assets 828,480 832,166 787,295 |
Bank | |
Net revenues and income/(loss) from continuing operations before taxes and total assets by segment | Net revenues and income/(loss) before taxes in 6M20 6M19 Net revenues (CHF million) Swiss Universal Bank 3,013 2,855 International Wealth Management 2,776 2,786 Asia Pacific 2,089 1,767 Global Markets 3,531 3,025 Investment Banking & Capital Markets 885 810 Adjustments (279) (132) Net revenues 12,015 11,111 Income/(loss) before taxes (CHF million) Swiss Universal Bank 1,276 1,204 International Wealth Management 885 967 Asia Pacific 550 420 Global Markets 921 639 Investment Banking & Capital Markets (176) (87) Adjustments 1 (874) (882) Income/(loss) before taxes 2,582 2,261 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain revenues and expenses that were not allocated to the segments, including such items relating to the Asset Resolution Unit. Total assets end of 6M20 2019 Total assets (CHF million) Swiss Universal Bank 239,966 232,729 International Wealth Management 97,067 93,059 Asia Pacific 101,719 107,660 Global Markets 213,114 214,019 Investment Banking & Capital Markets 26,728 17,819 Adjustments 1 152,895 125,173 Total assets 831,489 790,459 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain revenues and expenses that were not allocated to the segments, including such items relating to the Asset Resolution Unit. |
Net interest income (Tables)
Net interest income (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Net interest income | in 2Q20 1Q20 2Q19 6M20 6M19 Net interest income (CHF million) Loans 1,488 1,642 1,855 3,130 3,642 Investment securities 2 1 3 3 6 Trading assets 1,566 1,665 2,246 3,231 3,746 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 391 545 779 936 1,560 Other 142 442 770 584 1,517 Interest and dividend income 3,589 4,295 5,653 7,884 10,471 Deposits (299) (561) (808) (860) (1,591) Short-term borrowings (76) (76) (114) (152) (211) Trading liabilities (717) (756) (1,069) (1,473) (1,783) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (211) (294) (456) (505) (938) Long-term debt (657) (884) (910) (1,541) (1,814) Other (59) (190) (295) (249) (601) Interest expense (2,019) (2,761) (3,652) (4,780) (6,938) Net interest income 1,570 1,534 2,001 3,104 3,533 |
Bank | |
Net interest income | in 6M20 6M19 Net interest income (CHF million) Loans 3,113 3,646 Investment securities 3 5 Trading assets 3,231 3,746 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 936 1,560 Other 584 1,519 Interest and dividend income 7,867 10,476 Deposits (857) (1,593) Short-term borrowings (155) (218) Trading liabilities (1,473) (1,783) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (505) (938) Long-term debt (1,522) (1,788) Other (251) (601) Interest expense (4,763) (6,921) Net interest income 3,104 3,555 |
Commissions and fees (Tables)
Commissions and fees (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Commissions and fees | in 2Q20 1Q20 2Q19 6M20 6M19 Commissions and fees (CHF million) Lending business 361 436 443 797 839 Investment and portfolio management 752 810 846 1,562 1,691 Other securities business 18 18 16 36 28 Fiduciary business 770 828 862 1,598 1,719 Underwriting 560 364 514 924 859 Brokerage 806 967 734 1,773 1,427 Underwriting and brokerage 1,366 1,331 1,248 2,697 2,286 Other services 383 332 374 715 695 Commissions and fees 2,880 2,927 2,927 5,807 5,539 |
Bank | |
Commissions and fees | in 6M20 6M19 Commissions and fees (CHF million) Lending business 786 827 Investment and portfolio management 1,508 1,612 Other securities business 40 46 Fiduciary business 1,548 1,658 Underwriting 981 861 Brokerage 1,774 1,435 Underwriting and brokerage 2,755 2,296 Other services 727 702 Commissions and fees 5,816 5,483 |
Trading revenues (Tables)
Trading revenues (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Trading revenues | in 2Q20 1Q20 2Q19 6M20 6M19 Trading revenues (CHF million) Interest rate products 1,374 (2,248) (334) (874) 96 Foreign exchange products 539 571 (60) 1,110 (275) Equity/index-related products (375) 319 114 (56) 854 Credit products (682) 1,899 198 1,217 (130) Commodity and energy products 69 28 36 97 84 Other products 329 358 228 687 393 Trading revenues 1,254 927 182 2,181 1,022 Represents revenues on a product basis which are not representative of business results within segments, as segment results utilize financial instruments across various product types. |
Bank | |
Trading revenues | in 6M20 6M19 Trading revenues (CHF million) Interest rate products (921) 94 Foreign exchange products 1,113 (276) Equity/index-related products (88) 924 Credit products 1,217 (130) Commodity and energy products 97 84 Other products 687 391 Trading revenues 2,105 1,087 Represents revenues on a product basis which are not representative of business results within segments, as segment results utilize financial instruments across various product types. |
Other revenues (Tables)
Other revenues (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Other revenues | in 2Q20 1Q20 2Q19 6M20 6M19 Other revenues (CHF million) Loans held-for-sale 5 (21) (7) (16) (16) Long-lived assets held-for-sale 6 4 74 10 103 Equity method investments 23 36 54 59 110 Other investments 223 228 121 451 223 Other 233 141 229 374 454 Other revenues 490 388 471 878 874 |
Bank | |
Other revenues | in 6M20 6M19 Other revenues (CHF million) Loans held-for-sale (16) (16) Long-lived assets held-for-sale 10 103 Equity method investments 58 109 Other investments 451 222 Other 487 568 Other revenues 990 986 |
Provision for credit losses (Ta
Provision for credit losses (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Provision for credit losses | in 2Q20 1Q20 2Q19 6M20 6M19 Provision for credit losses (CHF million) Loans held at amortized cost 264 427 15 691 90 Other financial assets held at amortized cost 21 15 9 36 12 Off-balance sheet credit exposures 11 126 1 137 4 Provision for credit losses 296 568 25 864 106 |
Bank | |
Provision for credit losses | in 6M20 6M19 Provision for credit losses (CHF million) Loans held at amortized cost 691 90 Other financial assets held at amortized cost 32 11 Off-balance sheet credit exposures 137 5 Provision for credit losses 860 106 |
Compensation and benefits (Tabl
Compensation and benefits (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Compensation and benefits | in 2Q20 1Q20 2Q19 6M20 6M19 Compensation and benefits (CHF million) Salaries and variable compensation 2,234 1,909 2,161 4,143 4,331 Social security 172 168 187 340 346 Other 1 188 239 197 427 386 Compensation and benefits 2,594 2,316 2,545 4,910 5,063 1 Includes pension-related expenses of CHF 113 million, CHF 150 million, CHF 112 million, CHF 263 million and CHF 220 million in 2Q20 1Q20 2Q19 6M20 6M19 |
Bank | |
Compensation and benefits | in 6M20 6M19 Compensation and benefits (CHF million) Salaries and variable compensation 3,711 3,900 Social security 293 301 Other 416 1 408 Compensation and benefits 4,420 4,609 1 Includes pension-related expenses of CHF 272 million and CHF 256 million in 6M20 and 6M19, respectively, relating to service costs for defined benefit pension plans and employer contributions for defined contribution pension plans. |
General and administrative ex_2
General and administrative expenses (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
General and administrative expenses | in 2Q20 1Q20 2Q19 6M20 6M19 General and administrative expenses (CHF million) Occupancy expenses 237 228 247 465 529 IT, machinery and equipment 357 350 326 707 649 Provisions and losses 133 72 78 205 136 Travel and entertainment 28 68 88 96 166 Professional services 377 375 407 752 810 Amortization and impairment of other intangible assets 1 2 1 3 3 Other 1 307 251 248 558 515 General and administrative expenses 1,440 1,346 1,395 2,786 2,808 1 Includes pension-related expenses/(credits) of CHF (40) (40) (52) (80) (86) 2Q20 1Q20 2Q19 6M20 6M19 |
Bank | |
General and administrative expenses | in 6M20 6M19 General and administrative expenses (CHF million) Occupancy expenses 415 478 IT, machinery and equipment 561 515 Provisions and losses 203 136 Travel and entertainment 85 151 Professional services 1,481 1,497 Amortization and impairment of other intangible assets 3 3 Other 1 747 728 General and administrative expenses 3,495 3,508 1 Includes pension-related expenses/(credits) of CHF 1 million and CHF 5 million in 6M20 and 6M19, respectively, relating to certain components of net periodic benefit costs for defined benefit plans. |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Earnings per share | in 2Q20 1Q20 2Q19 6M20 6M19 Basic net income/(loss) attributable to shareholders (CHF million) Net income attributable to shareholders for basic earnings per share 1,162 1,314 937 2,476 1,686 Net income attributable to shareholders for diluted earnings per share 1,162 1,314 937 2,476 1,686 Weighted-average shares outstanding (million) For basic earnings per share available for common shares 2,473.6 2,465.9 2,546.1 2,469.7 2,559.6 Dilutive share options and warrants 2.6 1.6 4.0 2.1 3.6 Dilutive share awards 35.2 60.1 46.4 47.7 45.9 For diluted earnings per share available for common shares 1 2,511.4 2,527.6 2,596.5 2,519.5 2,609.1 Earnings/(loss) per share available for common shares (CHF) Basic earnings per share available for common shares 0.47 0.53 0.37 1.00 0.66 Diluted earnings per share available for common shares 0.46 0.52 0.36 0.98 0.65 1 Weighted-average potential common shares relating to instruments that were not dilutive for the respective periods (and therefore not included in the diluted earnings per share calculation above) but could potentially dilute earnings per share in the future were 5.3 million, 4.2 million, 6.2 million, 4.8 million and 6.5 million for 2Q20, 1Q20, 2Q19, 6M20 and 6M19, respectively. |
Revenue from contracts with c_2
Revenue from contracts with customers (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Contract with Customer, Asset and Liability [Table Text Block] | Contracts with customers and disaggregation of revenues in 2Q20 1Q20 2Q19 6M20 6M19 Contracts with customers (CHF million) Investment and portfolio management 752 810 846 1,562 1,691 Other securities business 18 18 16 36 28 Underwriting 560 364 514 924 859 Brokerage 805 966 732 1,771 1,426 Other services 387 337 375 724 697 Total revenues from contracts with customers 2,522 2,495 2,483 5,017 4,701 |
Revenue from External Customers by Products and Services [Table Text Block] | Contract balances end of 2Q20 1Q20 4Q19 Contract balances (CHF million) Contract receivables 952 841 880 Contract liabilities 53 58 53 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 12 11 14 |
Bank | |
Contract with Customer, Asset and Liability [Table Text Block] | Contracts with customers and disaggregation of revenues in 6M20 6M19 Contracts with customers (CHF million) Investment and portfolio management 1,508 1,612 Other securities business 40 46 Underwriting 981 861 Brokerage 1,772 1,433 Other services 774 745 Total revenues from contracts with customers 5,075 4,697 |
Revenue from External Customers by Products and Services [Table Text Block] | Contract balances end of 2Q20 1Q20 4Q19 Contract balances (CHF million) Contract receivables 983 859 886 Contract liabilities 53 58 53 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 12 11 14 |
Trading assets and liabilities
Trading assets and liabilities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Trading assets and liabilities | end of 2Q20 1Q20 4Q19 Trading assets (CHF million) Debt securities 70,962 68,618 66,994 Equity securities 55,232 47,574 64,542 Derivative instruments 1 25,834 29,458 17,731 Other 4,702 5,148 4,530 Trading assets 156,730 150,798 153,797 Trading liabilities (CHF million) Short positions 28,606 24,239 24,714 Derivative instruments 1 15,434 20,638 13,472 Trading liabilities 44,040 44,877 38,186 1 Amounts shown after counterparty and cash collateral netting. |
Cash collateral receivables and payables | Cash collateral on derivative instruments end of 2Q20 1Q20 4Q19 Cash collateral on derivatives instruments – netted (CHF million) 1 Cash collateral paid 26,076 29,272 20,695 Cash collateral received 17,958 21,217 14,633 Cash collateral on derivatives instruments– not netted (CHF million) 2 Cash collateral paid 7,488 9,526 4,570 Cash collateral received 7,184 8,260 7,457 1 Recorded as cash collateral netting on derivative instruments in Note 23 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 20 – Other assets and other liabilities. |
Bank | |
Trading assets and liabilities | end of 6M20 2019 Trading assets (CHF million) Debt securities 71,072 67,030 Equity securities 55,269 64,604 Derivative instruments 1 25,834 17,730 Other 4,702 4,531 Trading assets 156,877 153,895 Trading liabilities (CHF million) Short positions 28,606 24,714 Derivative instruments 1 15,434 13,472 Trading liabilities 44,040 38,186 1 Amounts shown after counterparty and cash collateral netting. |
Cash collateral receivables and payables | Cash collateral on derivative instruments end of 6M20 2019 Cash collateral on derivative instruments – netted (CHF million) 1 Cash collateral paid 26,163 20,739 Cash collateral received 17,958 14,633 Cash collateral on derivative instruments – not netted (CHF million) 2 Cash collateral paid 7,488 4,570 Cash collateral received 7,184 7,457 1 Recorded as cash collateral netting on derivative instruments in Note 22 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 19 – Other assets and other liabilities. |
Investment securities (Tables)
Investment securities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Investment securities | end of 2Q20 1Q20 4Q19 Investment securities (CHF million) Debt securities held-to-maturity 95 96 0 Debt securities available-for-sale 489 1,068 1,006 Total investment securities 584 1,164 1,006 |
Investment securities by type | Investment securities by type 2Q20 4Q19 Gross Gross Gross Gross Investment securities by type (CHF million) Corporate debt securities 95 0 0 95 0 0 0 0 Debt securities held-to-maturity 95 0 0 95 0 0 0 0 Swiss federal, cantonal or local government entities 2 0 0 2 2 0 0 2 Foreign governments 0 0 0 0 163 8 0 171 Corporate debt securities 481 6 0 487 807 28 2 833 Debt securities available-for-sale 483 6 0 489 972 36 2 1,006 |
Gross unrealized losses on investment securities and the related fair value | Gross unrealized losses on debt securities and related fair value Less than 12 months 12 months or more Total Gross Gross Gross 4Q19 (CHF million) Corporate debt securities 204 2 0 0 204 2 Debt securities available-for-sale 204 2 0 0 204 2 |
Proceeds from sales, realized gains and realized losses from available-for-sale securities | Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M20 6M19 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 626 4 Realized gains 42 0 |
Amortized cost, fair value and average yield of debt securities | Amortized cost, fair value and average yield of debt securities Average (CHF million, except where indicated) Due within 1 year 95 95 0.51 Debt securities held-to-maturity 95 95 0.51 Due within 1 year 151 151 0.39 Due from 1 to 5 years 2 2 3.70 Due from 5 to 10 years 330 336 0.08 Debt securities available-for-sale 483 489 0.20 |
Bank | |
Investment securities | end of 6M20 2019 Investment securities (CHF million) Debt securities held-to-maturity 95 0 Debt securities available-for-sale 487 1,004 Total investment securities 582 1,004 |
Investment securities by type | Investment securities by type 6M20 2019 Gross Gross Gross Gross Investment securities by type (CHF million) Corporate debt securities 95 0 0 95 0 0 0 0 Debt securities held-to-maturity 95 0 0 95 0 0 0 0 Foreign governments 0 0 0 0 163 8 0 171 Corporate debt securities 481 6 0 487 807 28 2 833 Debt securities available-for-sale 481 6 0 487 970 36 2 1,004 |
Gross unrealized losses on investment securities and the related fair value | Gross unrealized losses on debt securities and related fair value Less than 12 months 12 months or more Total Gross Gross Gross 2019 (CHF million) Corporate debt securities 204 2 0 0 204 2 Debt securities available-for-sale 204 2 0 0 204 2 |
Proceeds from sales, realized gains and realized losses from available-for-sale securities | Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M20 6M19 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 626 4 Realized gains 42 0 |
Amortized cost, fair value and average yield of debt securities | Amortized cost, fair value and average yield of debt securities Average CHF million, except where indicated Due within 1 year 95 95 0.51 Debt securities held-to-maturity 95 95 0.51 Due within 1 year 151 151 0.39 Due from 5 to 10 years 330 336 0.08 Debt securities available-for-sale 481 487 0.18 |
Other investments (Tables)
Other investments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Other investments | end of 2Q20 1Q20 4Q19 Other investments (CHF million) Equity method investments 2,874 2,994 2,367 Equity securities (without a readily determinable fair value) 1 1,823 1,689 2,148 of which at net asset value 357 344 409 of which at measurement alternative 387 243 274 of which at fair value 1,047 1,070 1,434 of which at cost less impairment 32 32 31 Real estate held-for-investment 2 84 89 99 Life finance instruments 3 1,067 1,086 1,052 Total other investments 5,848 5,858 5,666 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Group has neither significant influence nor control over the investee. 2 As of the end of 2Q20 1Q20 4Q19 3 Includes single premium immediate annuity contracts. |
Impairments and adjustments on equity securities at measurement alternative | Equity securities at measurement alternative in / end of 6M20 Cumulative 6M19 Impairments and adjustments (CHF million) Impairments and downward adjustments (3) (11) 0 Upward adjustments 137 148 11 |
Bank | |
Other investments | end of 6M20 2019 Other investments (CHF million) Equity method investments 2,868 2,361 Equity securities (without a readily determinable fair value) 1 1,819 2,145 of which at net asset value 355 407 of which at measurement alternative 385 272 of which at fair value 1,047 1,434 of which at cost less impairment 32 32 Real estate held-for-investment 2 60 76 Life finance instruments 3 1,067 1,052 Total other investments 5,814 5,634 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Bank has neither significant influence nor control over the investee. 2 As of the end of 6M20 and 2019, real estate held for investment included foreclosed or repossessed real estate of CHF 16 million and CHF 24 million, respecitvely, of which CHF 11 million and CHF 10 million, respecively were related to residential real estate. 3 Includes single premium immediate annuity contracts. |
Impairments and adjustments on equity securities at measurement alternative | Equity securities at measurement alternative – impairments and adjustments in / end of 6M20 Cumulative 6M19 Impairments and adjustments (CHF million) Impairments and downward adjustments (3) (11) 0 Upward adjustments 137 148 11 |
Loans, allowance for loan los_2
Loans, allowance for loan losses and credit quality (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Loans | Loans end of 2Q20 1Q20 4Q19 Loans (CHF million) Mortgages 1 110,022 109,566 109,671 Loans collateralized by securities 1 48,984 50,877 56,425 Consumer finance 4,977 5,286 4,401 Consumer 163,983 165,729 170,497 Real estate 29,095 29,706 29,220 Commercial and industrial loans 1 79,341 84,035 73,495 Financial institutions 20,046 20,948 20,367 Governments and public institutions 3,628 3,799 4,262 Corporate & institutional 132,110 138,488 127,344 Gross loans 296,093 304,217 297,841 of which held at amortized cost 282,862 289,944 285,179 of which held at fair value 13,231 14,273 12,662 Net (unearned income)/deferred expenses (112) (112) (116) Allowance for credit losses (1,669) (1,431) (946) Net loans 294,312 302,674 296,779 Gross loans by location (CHF million) Switzerland 166,707 165,944 163,133 Foreign 129,386 138,273 134,708 Gross loans 296,093 304,217 297,841 Impaired loan portfolio (CHF million) Non-performing loans 1,994 1,555 1,250 Non-interest-earning loans 280 248 260 Non-accrual loans 2,274 1,803 1,510 Restructured loans 226 196 350 Potential problem loans 791 519 266 Other impaired loans 1,017 715 616 Gross impaired loans 2 3,291 2,518 2,126 1 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. 2 As of the end of 2Q20, 1Q20 and 4Q19, CHF 213 million, CHF 209 million and CHF 208 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. |
Bank | |
Loans | Loans end of 6M20 2019 Loans (CHF million) Mortgages 1 110,022 109,671 Loans collateralized by securities 1 48,984 56,425 Consumer finance 4,977 4,401 Consumer 163,983 170,497 Real estate 29,095 29,220 Commercial and industrial loans 1 79,834 74,094 Financial institutions 27,167 27,013 Governments and public institutions 3,628 4,262 Corporate & institutional 139,724 134,589 Gross loans 303,707 305,086 of which held at amortized cost 290,476 292,425 of which held at fair value 13,231 12,661 Net (unearned income)/deferred expenses (112) (116) Allowance for credit losses (1,668) (945) Net loans 301,927 304,025 Gross loans by location Switzerland 173,727 169,671 Foreign 129,980 135,415 Gross loans 303,707 305,086 Impaired loans Non-performing loans 1,994 1,250 Non-interest-earning loans 268 248 Non-accrual loans 2,262 1,498 Restructured loans 226 350 Potential problem loans 791 266 Other impaired loans 1,017 616 Gross impaired loans 2 3,279 2,114 1 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. 2 As of the end of 6M20 and 2019, CHF 213 million and CHF 208 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. |
CECL - Financial instruments _2
CECL - Financial instruments measured at amortized cost and credit losses (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Financial instruments measured at amortized costs | Overview of financial instruments measured at amortized cost – by balance sheet position 1 Allowance Net 2Q20 (CHF million) Cash and due from banks 131,709 (7) 131,702 Interest-bearing deposits with banks 1,191 2 (6) 1,185 Securities purchased under resale agreements and securities borrowing transactions 26,442 0 26,442 Debt securities held-to-maturity 95 0 95 Loans 282,750 2,3 (1,669) 281,081 Brokerage receivables 44,287 2 0 44,287 Other assets 14,981 (57) 14,924 Total 501,455 (1,739) 499,716 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest in the total amount of CHF 490 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 2 million relates to interest-bearing deposits with banks, CHF 453 million to loans and CHF 35 million to brokerage receivables. These accrued interest balances are reported in other assets. 3 Includes endangered interest of CHF 92 million on non-accrual loans which are reported as part of the loans' amortized cost balance. |
Allowance for credit losses - loans held at amortized cost | Allowance for credit losses – loans held at amortized cost 2Q20 1Q20 2Q19 1 Corporate & Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 349 1,082 1,431 241 808 1,049 2 181 785 966 Current-period provision for expected credit losses 62 218 280 121 3 315 3 436 10 5 15 of which provisions for interest 4 16 0 16 5 4 9 – – – Gross write-offs (12) (24) (36) (12) (35) (47) (25) (87) (112) Recoveries 2 1 3 3 1 4 2 10 12 Net write-offs (10) (23) (33) (9) (34) (43) (23) (77) (100) Provisions for interest – – – – – – 3 7 10 Foreign currency translation impact and other adjustments, net (2) (7) (9) (4) (7) (11) 0 (9) (9) Balance at end of period 399 1,270 1,669 349 1,082 1,431 171 711 882 of which individually evaluated for impairment 313 586 899 237 540 777 130 446 576 of which collectively evaluated for impairment 86 684 770 112 542 654 41 265 306 6M20 6M19 1 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 241 808 1,049 2 187 715 902 Current-period provision for expected credit losses 183 533 716 22 68 90 of which provisions for interest 3 21 4 25 – – – Gross write-offs (24) (59) (83) (48) (93) (141) Recoveries 5 2 7 3 12 15 Net write-offs (19) (57) (76) (45) (81) (126) Provisions for interest – – – 5 16 21 Foreign currency translation impact and other adjustments, net (6) (14) (20) 2 (7) (5) Balance at end of period 399 1,270 1,669 171 711 882 1 Measured under the previous accounting guidance (incurred loss model). 2 Includes a net impact of CHF 103 million from the adoption of the new CECL guidance and the related election of the fair value option for certain loans on January 1, 2020, of which CHF 55 million is reflected in consumer loans and CHF 48 million in corporate & institutional loans. 3 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. 4 Represents the current-period net provision for accrued interest on non-accrual loans and lease financing transactions which is recognized as a reversal of interest income. |
Purchases, reclassifications and sales - loans held at amortized cost | Purchases, reclassifications and sales – loans held at amortized cost 2Q20 1Q20 2Q19 Corporate & Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 21 643 664 0 685 685 0 472 472 Reclassifications from loans held-for-sale 2 0 4 4 0 0 0 0 10 10 Reclassifications to loans held-for-sale 3 0 528 528 0 460 460 0 555 555 Sales 3 0 558 558 0 422 422 0 491 491 6M20 6M19 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 21 1,328 1,349 0 977 977 Reclassifications from loans held-for-sale 2 0 4 4 0 11 11 Reclassifications to loans held-for-sale 3 0 988 988 0 1,748 1,748 Sales 3 0 980 980 0 1,606 1,606 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. |
Allowance for Credit Losses on Other Financing Instruments [Table Text Block] | Allowance for credit losses – other financial assets held at amortized cost 2Q20 1Q20 6M20 CHF million Balance at beginning of period 52 45 45 Current-period provision for expected credit losses 21 15 36 Gross write-offs (1) (8) (9) Recoveries 1 0 1 Net write-offs 0 (8) (8) Foreign currency translation impact and other adjustments, net (3) 0 (3) Balance at end of period 70 52 70 of which individually evaluated for impairment 20 15 20 of which collectively evaluated for impairment 50 37 50 |
Loans held at amortized cost by internal counterparty rating | Consumer loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 2Q20 (CHF million) Mortgages 2020 7,090 774 3 7,867 2019 15,143 1,693 11 16,847 2018 11,348 1,080 40 12,468 2017 8,208 976 80 9,264 2016 11,849 955 46 12,850 Prior years 45,659 3,490 202 49,351 Total term loans 99,297 8,968 382 108,647 Revolving loans 831 530 14 1,375 Total 100,128 9,498 396 110,022 Loans collateralized by securities 2020 1,548 814 105 2,467 2019 1,284 440 69 1,793 2018 745 231 170 1,146 2017 107 48 51 206 2016 196 215 0 411 Prior years 621 395 0 1,016 Total term loans 4,501 2,143 395 7,039 Revolving loans 1 39,158 2,676 111 41,945 Total 43,659 4,819 506 48,984 Consumer finance 2020 480 610 1 1,091 2019 663 701 13 1,377 2018 311 324 20 655 2017 129 193 19 341 2016 35 90 12 137 Prior years 28 129 47 204 Total term loans 1,646 2,047 112 3,805 Revolving loans 873 153 89 1,115 Total 2,519 2,200 201 4,920 Consumer – total 2020 9,118 2,198 109 11,425 2019 17,090 2,834 93 20,017 2018 12,404 1,635 230 14,269 2017 8,444 1,217 150 9,811 2016 12,080 1,260 58 13,398 Prior years 46,308 4,014 249 50,571 Total term loans 105,444 13,158 889 119,491 Revolving loans 40,862 3,359 214 44,435 Total 146,306 16,517 1,103 163,926 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 2Q20 (CHF million) Real estate 2020 2,597 1,399 0 3,996 2019 3,554 2,173 1 5,728 2018 2,514 1,230 132 3,876 2017 1,225 533 96 1,854 2016 2,023 345 23 2,391 Prior years 7,444 1,446 26 8,916 Total term loans 19,357 7,126 278 26,761 Revolving loans 1,224 332 32 1,588 Total 20,581 7,458 310 28,349 Commercial and industrial loans 2020 5,408 8,192 79 13,679 2019 5,561 8,271 304 14,136 2018 2,422 5,350 226 7,998 2017 1,448 2,496 46 3,990 2016 1,285 1,554 29 2,868 Prior years 3,994 4,577 227 8,798 Total term loans 20,118 30,440 911 51,469 Revolving loans 11,187 11,029 558 22,774 Total 31,305 41,469 1,469 74,243 Financial institutions 2020 2,037 420 0 2,457 2019 2,478 326 41 2,845 2018 1,454 442 1 1,897 2017 105 110 0 215 2016 44 107 20 171 Prior years 336 22 3 361 Total term loans 6,454 1,427 65 7,946 Revolving loans 6,500 696 1 7,197 Total 12,954 2,123 66 15,143 Governments and public institutions 2020 44 12 0 56 2019 137 30 0 167 2018 81 0 0 81 2017 36 0 0 36 2016 271 1 0 272 Prior years 547 28 0 575 Total term loans 1,116 71 0 1,187 Revolving loans 14 0 0 14 Total 1,130 71 0 1,201 Corporate & institutional – total 2020 10,086 10,023 79 20,188 2019 11,730 10,800 346 22,876 2018 6,471 7,022 359 13,852 2017 2,814 3,139 142 6,095 2016 3,623 2,007 72 5,702 Prior years 12,321 6,073 256 18,650 Total term loans 47,045 39,064 1,254 87,363 Revolving loans 18,925 12,057 591 31,573 Total 65,970 51,121 1,845 118,936 Total loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 2Q20 (CHF million) Loans held at amortized cost – total 2020 19,204 12,221 188 31,613 2019 28,820 13,634 439 42,893 2018 18,875 8,657 589 28,121 2017 11,258 4,356 292 15,906 2016 15,703 3,267 130 19,100 Prior years 58,629 10,087 505 69,221 Total term loans 152,489 52,222 2,143 206,854 Revolving loans 59,787 15,416 805 76,008 Total 212,276 67,638 2,948 282,862 1 Value of collateral 2 192,133 54,266 2,258 248,657 1 Excludes accrued interest on loans held at amortized cost of CHF 453 million. 2 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Group's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. 4Q19 Gross loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 4Q19 (CHF million) Mortgages 1 99,677 9,629 365 109,671 Loans collateralized by securities 1 50,766 5,531 128 56,425 Consumer finance 1,527 2,677 167 4,371 Consumer 151,970 17,837 660 170,467 Real estate 20,524 7,674 125 28,323 Commercial and industrial loans 1 30,090 38,522 1,108 69,720 Financial institutions 13,267 2,122 47 15,436 Governments and public institutions 1,166 67 0 1,233 Corporate & institutional 65,047 48,385 1,280 114,712 Gross loans held at amortized cost 217,017 66,222 1,940 285,179 Value of collateral 2 200,521 54,543 1,378 256,442 1 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. 2 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Group's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. |
Other Financial Assets Credit Quality Indicators [Table Text Block] | Other financial assets held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 2Q20 (CHF million) Other financial assets held at amortized cost 2019 0 95 0 95 2018 0 70 0 70 Total term positions 0 165 0 165 Revolving positions 0 961 0 961 Total 0 1,126 0 1,126 Includes primarily mortgage servicing advances and failed purchases. |
Financing Receivable, Nonaccrual [Table Text Block] | Non-accrual loans held at amortized cost 6M20 Amortized CHF million Mortgages 337 380 1 20 Loans collateralized by securities 122 377 3 75 Consumer finance 168 204 0 4 Consumer 627 961 4 99 Real estate 155 270 3 37 Commercial and industrial loans 682 978 21 41 Financial institutions 46 65 0 8 Corporate & institutional 883 1,313 24 86 Total loans held at amortized cost 1,510 2,274 28 185 |
Past Due Financing Receivables [Table Text Block] | Loans held at amortized cost – past due Current Past due Up to 31–60 61–90 More than 2Q20 (CHF million) Mortgages 109,519 128 24 14 337 503 110,022 Loans collateralized by securities 48,563 42 0 4 375 421 48,984 Consumer finance 4,293 405 20 48 154 627 4,920 Consumer 162,375 575 44 66 866 1,551 163,926 Real estate 28,213 40 5 0 91 136 28,349 Commercial and industrial loans 72,525 585 232 199 702 1,718 74,243 Financial institutions 14,470 609 1 1 62 673 15,143 Governments and public institutions 1,190 11 0 0 0 11 1,201 Corporate & institutional 116,398 1,245 238 200 855 2,538 118,936 Total loans held at amortized cost 278,773 1,820 282 266 1,721 4,089 282,862 1 4Q19 (CHF million) Mortgages 2 109,279 83 16 9 284 392 109,671 Loans collateralized by securities 2 56,287 79 0 2 57 138 56,425 Consumer finance 3,826 283 61 43 158 545 4,371 Consumer 169,392 445 77 54 499 1,075 170,467 Real estate 28,094 95 10 2 122 229 28,323 Commercial and industrial loans 2 68,462 528 62 71 597 1,258 69,720 Financial institutions 15,300 85 1 3 47 136 15,436 Governments and public institutions 1,207 26 0 0 0 26 1,233 Corporate & institutional 113,063 734 73 76 766 1,649 114,712 Total loans held at amortized cost 282,455 1,179 150 130 1,265 2,724 285,179 1 Excludes accrued interest on loans held at amortized cost of CHF 453 million. 2 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. |
Restructured financing receivables held at amortized cost | Restructured financing receivables held at amortized cost 2Q20 1Q20 2Q19 Recorded Recorded Recorded Recorded Recorded Recorded CHF million, except where indicated Loans collateralized by securities 2 116 116 0 0 0 0 0 0 Commercial and industrial loans 1 2 1 6 30 14 6 14 14 Total loans 3 118 117 6 30 14 6 14 14 6M20 6M19 Recorded Recorded Recorded Recorded CHF million, except where indicated Mortgages 0 0 0 1 7 7 Loans collateralized by securities 2 116 116 0 0 0 Commercial and industrial loans 7 32 15 6 14 14 Total loans 9 148 131 7 21 21 |
Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring | Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring 2Q20 1Q20 2Q19 Number of Recorded Number of Recorded Number of Recorded CHF million, except where indicated Commercial and industrial loans 3 12 0 0 0 0 Total loans 3 12 0 0 0 0 6M20 6M19 Number of Recorded Number of Recorded CHF million, except where indicated Mortgages 0 0 1 13 Commercial and industrial loans 3 12 0 0 Total loans 3 12 1 13 |
Bank | |
Financial instruments measured at amortized costs | Overview of financial instruments measured at amortized cost – by balance sheet position 1 Allowance Net 6M20 (CHF million) Cash and due from banks 130,927 (3) 130,924 Interest-bearing deposits with banks 1,182 2 (6) 1,176 Securities purchased under resale agreements and securities borrowing transactions 26,442 0 26,442 Debt securities held-to-maturity 95 0 95 Loans 290,364 2,3 (1,668) 288,696 Brokerage receivables 44,289 2 0 44,289 Other assets 15,112 (54) 15,058 Total 508,411 (1,731) 506,680 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest for credit losses in the total amount of CHF 490 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 2 million relates to interest-bearing deposits with banks, CHF 453 million to loans and CHF 35 million to brokerage receivables. These accrued interest balances are reported in other assets. 3 Includes endangered interest of CHF 91 million on non-accrual loans which are reported as part of the loans' amortized cost balance. |
Allowance for credit losses - loans held at amortized cost | Allowance for credit losses – loans held at amortized cost 6M20 6M19 1 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 241 807 1,048 2 187 714 901 Current-period provision for expected credit losses 183 533 716 22 68 90 of which provisions for interest 3 21 4 25 – – – Gross write-offs (24) (59) (83) (48) (93) (141) Recoveries 5 2 7 3 12 15 Net write-offs (19) (57) (76) (45) (81) (126) Provisions for interest – – – 5 16 21 Foreign currency translation impact and other adjustments, net (6) (14) (20) 2 (7) (5) Balance at end of period 399 1,269 1,668 171 710 881 of which individually evaluated for impairment 313 585 898 130 445 575 of which collectively evaluated for impairment 86 684 770 41 265 306 1 Measured under the previous accounting guidance (incurred loss model). 2 Includes a net impact of CHF 103 million from the adoption of the new CECL guidance and the related election of the fair value option for certain loans on January 1, 2020, of which CHF 55 million is reflected in consumer loans and CHF 48 million in corporate & institutional loans. 3 Represents the current-period net provision for accrued interest on non-accrual loans and lease financing transactions which is recognized as a reversal of interest income. |
Purchases, reclassifications and sales - loans held at amortized cost | Purchases, reclassifications and sales – loans held at amortized cost 6M20 6M19 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 21 1,328 1,349 0 977 977 Reclassifications from loans held-for-sale 2 0 4 4 0 11 11 Reclassifications to loans held-for-sale 3 0 988 988 0 1,748 1,748 Sales 3 0 980 980 0 1,606 1,606 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Other financial assets |
Allowance for Credit Losses on Other Financing Instruments [Table Text Block] | Allowance for credit losses – other financial assets held at amortized cost 6M20 CHF million Balance at beginning of period 43 Current-period provision for expected credit losses 32 Gross write-offs (9) Recoveries 1 Net write-offs (8) Foreign currency translation impact and other adjustments, net (4) Balance at end of period 63 of which individually evaluated for impairment 19 of which collectively evaluated for impairment 44 |
Loans held at amortized cost by internal counterparty rating | Consumer loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 6M20 (CHF million) Mortgages 2020 7,090 774 3 7,867 2019 15,143 1,693 11 16,847 2018 11,348 1,080 40 12,468 2017 8,208 976 80 9,264 2016 11,849 955 46 12,850 Prior years 45,659 3,490 202 49,351 Total term loans 99,297 8,968 382 108,647 Revolving loans 831 530 14 1,375 Total 100,128 9,498 396 110,022 Loans collateralized by securities 2020 1,548 814 105 2,467 2019 1,284 440 69 1,793 2018 745 231 170 1,146 2017 107 48 51 206 2016 196 215 0 411 Prior years 621 395 0 1,016 Total term loans 4,501 2,143 395 7,039 Revolving loans 1 39,158 2,676 111 41,945 Total 43,659 4,819 506 48,984 Consumer finance 2020 480 610 1 1,091 2019 663 701 13 1,377 2018 311 324 20 655 2017 129 193 19 341 2016 35 90 12 137 Prior years 28 129 47 204 Total term loans 1,646 2,047 112 3,805 Revolving loans 873 153 89 1,115 Total 2,519 2,200 201 4,920 Consumer – total 2020 9,118 2,198 109 11,425 2019 17,090 2,834 93 20,017 2018 12,404 1,635 230 14,269 2017 8,444 1,217 150 9,811 2016 12,080 1,260 58 13,398 Prior years 46,308 4,014 249 50,571 Total term loans 105,444 13,158 889 119,491 Revolving loans 40,862 3,359 214 44,435 Total 146,306 16,517 1,103 163,926 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 6M20 (CHF million) Real estate 2020 2,597 1,399 0 3,996 2019 3,554 2,173 1 5,728 2018 2,514 1,230 132 3,876 2017 1,225 533 96 1,854 2016 2,023 345 23 2,391 Prior years 7,444 1,446 26 8,916 Total term loans 19,357 7,126 278 26,761 Revolving loans 1,224 332 32 1,588 Total 20,581 7,458 310 28,349 Commercial and industrial loans 2020 5,408 8,192 79 13,679 2019 5,561 8,271 304 14,136 2018 2,422 5,350 226 7,998 2017 1,448 2,496 46 3,990 2016 1,285 1,554 29 2,868 Prior years 3,994 4,577 215 8,786 Total term loans 20,118 30,440 899 51,457 Revolving loans 11,187 11,029 558 22,774 Total 31,305 41,469 1,457 74,231 Financial institutions 2020 2,037 420 0 2,457 2019 2,478 326 41 2,845 2018 1,454 442 1 1,897 2017 105 110 0 215 2016 44 107 20 171 Prior years 336 22 3 361 Total term loans 6,454 1,427 65 7,946 Revolving loans 6,500 696 1 7,197 Total 12,954 2,123 66 15,143 Governments and public institutions 2020 44 12 0 56 2019 137 30 0 167 2018 81 0 0 81 2017 36 0 0 36 2016 271 1 0 272 Prior years 547 28 0 575 Total term loans 1,116 71 0 1,187 Revolving loans 14 0 0 14 Total 1,130 71 0 1,201 Corporate & institutional – total 2020 10,086 10,023 79 20,188 2019 11,730 10,800 346 22,876 2018 6,471 7,022 359 13,852 2017 2,814 3,139 142 6,095 2016 3,623 2,007 72 5,702 Prior years 12,321 6,073 244 18,638 Total term loans 47,045 39,064 1,242 87,351 Revolving loans 18,925 12,057 591 31,573 Total 65,970 51,121 1,833 118,924 Total loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 6M20 (CHF million) Loans held at amortized cost – total 2020 19,204 12,221 188 31,613 2019 28,820 13,634 439 42,893 2018 18,875 8,657 589 28,121 2017 11,258 4,356 292 15,906 2016 15,703 3,267 130 19,100 Prior years 58,629 10,087 493 69,209 Total term loans 152,489 52,222 2,131 206,842 Revolving loans 59,787 15,416 805 76,008 Total loans to third parties 212,276 67,638 2,936 282,850 Total loans to entities under common control 7,626 0 0 7,626 Total 219,902 67,638 2,936 290,476 1 Value of collateral 2 192,167 54,266 2,247 248,680 1 Excludes accrued interest on loans held at amortized cost of CHF 453 million. 2 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Group's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. 2019 Gross loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 2019 (CHF million) Mortgages 1 99,677 9,629 365 109,671 Loans collateralized by securities 1 50,766 5,531 128 56,425 Consumer finance 1,527 2,677 167 4,371 Consumer 151,970 17,837 660 170,467 Real estate 20,524 7,674 125 28,323 Commercial and industrial loans 1 30,703 38,522 1,096 70,321 Financial institutions 19,912 2,122 47 22,081 Governments and public institutions 1,166 67 0 1,233 Corporate & institutional 72,305 48,385 1,268 121,958 Gross loans held at amortized cost 224,275 66,222 1,928 292,425 Value of collateral 2 200,556 54,543 1,366 256,465 1 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. 2 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Group's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. |
Other Financial Assets Credit Quality Indicators [Table Text Block] | Other financial assets held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 6M20 (CHF million) Other financial assets held at amortized cost 2019 0 95 0 95 2018 0 70 0 70 Total term positions 0 165 0 165 Revolving positions 0 961 0 961 Total 0 1,126 0 1,126 Includes primarily mortgage servicing advances and failed purchases. |
Financing Receivable, Nonaccrual [Table Text Block] | Non-accrual loans held at amortized cost 6M20 Amortized CHF million Mortgages 337 380 1 20 Loans collateralized by securities 122 377 3 75 Consumer finance 168 204 0 4 Consumer 627 961 4 99 Real estate 155 270 3 37 Commercial and industrial loans 670 966 21 41 Financial institutions 46 65 0 8 Corporate & institutional 871 1,301 24 86 Total loans held at amortized cost 1,498 2,262 28 185 |
Past Due Financing Receivables [Table Text Block] | Loans held at amortized cost – past due Current Past due Up to 31–60 61–90 More than 6M20 (CHF million) Mortgages 109,519 128 24 14 337 503 110,022 Loans collateralized by securities 48,563 42 0 4 375 421 48,984 Consumer finance 4,293 405 20 48 154 627 4,920 Consumer 162,375 575 44 66 866 1,551 163,926 Real estate 28,213 40 5 0 91 136 28,349 Commercial and industrial loans 72,525 585 232 199 690 1,706 74,231 Financial institutions 14,470 609 1 1 62 673 15,143 Governments and public institutions 1,190 11 0 0 0 11 1,201 Corporate & institutional 116,398 1,245 238 200 843 2,526 118,924 Total loans to third parties 278,773 1,820 282 266 1,709 4,077 282,850 Total loans to entities under common control 7,626 0 0 0 0 0 7,626 Total loans held at amortized cost 286,399 1,820 282 266 1,709 4,077 290,476 1 2019 (CHF million) Mortgages 2 109,279 83 16 9 284 392 109,671 Loans collateralized by securities 2 56,287 79 0 2 57 138 56,425 Consumer finance 3,826 283 61 43 158 545 4,371 Consumer 169,392 445 77 54 499 1,075 170,467 Real estate 28,094 95 10 2 122 229 28,323 Commercial and industrial loans 2 69,075 528 62 71 585 1,246 70,321 Financial institutions 21,945 85 1 3 47 136 22,081 Governments and public institutions 1,207 26 0 0 0 26 1,233 Corporate & institutional 120,321 734 73 76 754 1,637 121,958 Total loans held at amortized cost 289,713 1,179 150 130 1,253 2,712 292,425 1 Excludes accrued interest on loans held at amortized cost of CHF 453 million. 2 Certain corporate & institutional loans have been reclassified to consumer loans following the application of a look-through approach with regard to beneficial owners. Prior periods have been reclassified to conform to the current presentation. |
Restructured financing receivables held at amortized cost | Restructured financing receivables held at amortized cost 6M20 6M19 Recorded Recorded Recorded Recorded CHF million, except where indicated Mortgages 0 0 0 1 7 7 Loans collateralized by securities 2 116 116 0 0 0 Commercial and industrial loans 7 32 15 6 14 14 Total loans 9 148 131 7 21 21 |
Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring | Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring 6M20 6M19 Number of Recorded Number of Recorded CHF million, except where indicated Mortgages 0 0 1 13 Commercial and industrial loans 3 12 0 0 Total loans 3 12 1 13 |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Goodwill | Investment 1 Gross amount of goodwill (CHF million) Balance at beginning of period 602 1,462 2,231 3,174 1,014 8,495 Goodwill acquired during the year 0 0 122 0 0 122 Foreign currency translation impact (4) (19) (15) (5) (7) (50) Balance at end of period 598 1,443 2,338 3,169 1,007 8,567 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 598 1,443 1,566 450 619 4,676 6M20 Gross amount of goodwill (CHF million) Balance at beginning of period 607 1,494 2,248 3,176 1,017 8,554 Goodwill acquired during the year 0 9 122 0 0 131 Foreign currency translation impact (7) (30) (21) (7) (10) (75) Other (2) (30) (11) 0 0 (43) Balance at end of period 598 1,443 2,338 3,169 1,007 8,567 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 598 1,443 1,566 450 619 4,676 1 Gross amount of goodwill and accumulated impairment include CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. |
Bank | |
Goodwill | Investment 1 Gross amount of goodwill (CHF million) Balance at beginning of period 589 1,481 2,025 2,836 908 7,851 Goodwill acquired during the year 0 9 122 0 0 131 Foreign currency translation impact (7) (30) (20) (3) (9) (69) Other (2) (30) (11) 0 0 (43) Balance at end of period 580 1,430 2,116 2,833 899 7,870 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 580 1,430 1,344 114 511 3,979 1 Gross amount of goodwill and accumulated impairment include goodwill of CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. |
Other assets and other liabil_2
Other assets and other liabilities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Other assets and other liabilities | end of 2Q20 1Q20 4Q19 Other assets (CHF million) Cash collateral on derivative instruments 7,488 9,526 4,570 Cash collateral on non-derivative transactions 556 1,075 428 Derivative instruments used for hedging 173 198 183 Assets held-for-sale 7,460 9,886 8,971 of which loans 1 7,406 9,821 8,886 allowance for loans held-for-sale (8) (7) – of which real estate 2 29 33 38 of which long-lived assets 25 32 47 Premises, equipment and right-of-use assets 7,650 7,730 7,832 Assets held for separate accounts 106 106 111 Interest and fees receivable 4,493 5,175 4,688 Deferred tax assets 4,020 4,157 4,399 Prepaid expenses 658 643 431 of which cloud computing arrangement implementation costs 33 30 27 Failed purchases 1,836 1,725 1,643 Defined benefit pension and post-retirement plan assets 3,011 2,928 2,878 Other 3,695 4,132 3,475 Other assets 41,146 47,281 39,609 Other liabilities (CHF million) Cash collateral on derivative instruments 7,184 8,260 7,457 Cash collateral on non-derivative transactions 244 1,797 516 Derivative instruments used for hedging 15 40 48 Operating leases liabilities 2,911 3,023 3,213 Provisions 1,329 1,256 1,179 of which expected credit losses on off-balance sheet credit exposures 262 253 172 Liabilities held for separate accounts 106 106 111 Interest and fees payable 4,993 5,537 5,101 Current tax liabilities 573 621 678 Deferred tax liabilities 646 977 523 Failed sales 920 1,145 936 Defined benefit pension and post-retirement plan liabilities 436 443 455 Other 9,430 8,883 10,826 Other liabilities 28,787 32,088 31,043 1 Included as of the end of 2Q20, 1Q20 and 4Q19 were CHF 278 million, CHF 679 million and CHF 800 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 2Q20, 1Q20 and 4Q19, real estate held-for-sale included foreclosed or repossessed real estate of CHF 8 million, CHF 8 million and CHF 9 million, respectively, of which CHF 8 million, CHF 8 million and CHF 9 million, respectively were related to residential real estate. |
Bank | |
Other assets and other liabilities | end of 6M20 2019 Other assets (CHF million) Cash collateral on derivative instruments 7,488 4,570 Cash collateral on non-derivative transactions 556 428 Derivative instruments used for hedging 173 183 Assets held-for-sale 7,460 8,971 of which loans 1 7,406 8,886 allowance for loans held-for-sale (8) 0 of which real estate 2 29 38 of which long-lived assets 25 47 Premises, equipment and right-of-use assets 6,483 6,652 Assets held for separate accounts 106 111 Interest and fees receivable 4,589 5,301 Deferred tax assets 3,959 4,337 Prepaid expenses 572 343 of which cloud computing arrangement implementation costs 27 21 Failed purchases 1,836 1,643 Defined benefit pension and post-retirement plan assets 987 1,067 Other 3,702 3,463 Other assets 37,911 37,069 Other liabilities (CHF million) Cash collateral on derivative instruments 7,184 7,457 Cash collateral on non-derivative transactions 244 516 Derivative instruments used for hedging 15 48 Operating leases liabilities 2,111 2,388 Provisions 1,319 1,171 of which expected credit losses on off-balance sheet credit exposures 262 172 Liabilities held for separate accounts 106 111 Interest and fees payable 5,128 5,690 Current tax liabilities 562 658 Deferred tax liabilities 238 167 Failed sales 920 936 Defined benefit pension and post-retirement plan liabilities 436 455 Other 9,547 10,809 Other liabilities 27,810 30,406 1 Included as of the end of 6M20 and 2019 were CHF 278 million and CHF 800 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 6M20 and 2019, real estate held-for-sale included foreclosed or repossessed real estate of CHF 8 million and CHF 9 million, respectively, of which CHF 8 million and CHF 9 million, respectively, were related to residential real estate. |
Long-term debt (Tables)
Long-term debt (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Long-term debt | Long-term debt end of 2Q20 1Q20 4Q19 Long-term debt (CHF million) Senior 128,417 104,958 108,667 Subordinated 39,206 38,087 41,667 Non-recourse liabilities from consolidated VIEs 1,803 1,878 1,671 Long-term debt 169,426 144,923 152,005 of which reported at fair value 68,798 60,360 70,331 of which structured notes 47,398 40,171 49,435 |
Schedule of Structured notes | Structured notes by product end of 2Q20 1Q20 4Q19 Structured notes by product (CHF million) Equity 29,180 24,864 31,666 Fixed income 14,295 11,590 13,558 Credit 3,409 3,311 3,734 Other 514 406 477 Total structured notes 47,398 40,171 49,435 |
Bank | |
Long-term debt | Long-term debt end of 6M20 2019 Long-term debt (CHF million) Senior 98,787 88,307 Subordinated 67,964 61,022 Non-recourse liabilities from consolidated VIEs 1,803 1,671 Long-term debt 168,554 151,000 of which reported at fair value 67,959 69,406 of which structured notes 47,398 49,435 |
Schedule of Structured notes | Structured notes by product end of 6M20 2019 Structured notes by product (CHF million) Equity 29,180 31,666 Fixed income 14,295 13,558 Credit 3,409 3,734 Other 514 477 Total structured notes 47,398 49,435 |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Accumulated other comprehensive income | Accumulated other comprehensive income/(loss) 1 Gains/ 2Q20 (CHF million) Balance at beginning of period 253 (15,064) 28 (3,617) 570 1,578 (16,252) Increase/(decrease) 13 (450) (47) 0 0 (2,680) (3,164) Reclassification adjustments, included in net income/(loss) 5 17 29 73 (34) 22 112 Total increase/(decrease) 18 (433) (18) 73 (34) (2,658) (3,052) Balance at end of period 271 (15,497) 10 (3,544) 536 (1,080) (19,304) 1Q20 (CHF million) Balance at beginning of period 28 (14,469) 30 (3,690) 604 (2,772) (20,269) Increase/(decrease) 155 (595) (5) 0 0 4,273 3,828 Reclassification adjustments, included in net income/(loss) 70 0 3 73 (34) 77 189 Total increase/(decrease) 225 (595) (2) 73 (34) 4,350 4,017 Balance at end of period 253 (15,064) 28 (3,617) 570 1,578 (16,252) 2Q19 (CHF million) Balance at beginning of period (26) (13,245) 24 (3,956) 363 (2,033) (18,873) Increase/(decrease) 45 (589) 12 323 338 (312) (183) Increase/(decrease) due to equity method investments (3) 0 0 0 0 0 (3) Reclassification adjustments, included in net income/(loss) 1 0 0 63 (32) 81 113 Total increase/(decrease) 43 (589) 12 386 306 (231) (73) Balance at end of period 17 (13,834) 36 (3,570) 669 (2,264) (18,946) 6M20 (CHF million) Balance at beginning of period 28 (14,469) 30 (3,690) 604 (2,772) (20,269) Increase/(decrease) 168 (1,045) (52) 0 0 1,593 664 Reclassification adjustments, included in net income/(loss) 75 17 32 146 (68) 99 301 Total increase/(decrease) 243 (1,028) (20) 146 (68) 1,692 965 Balance at end of period 271 (15,497) 10 (3,544) 536 (1,080) (19,304) 6M19 (CHF million) Balance at beginning of period (72) (13,442) 10 (3,974) 387 (890) (17,981) Increase/(decrease) 92 (394) 26 323 338 (1,463) (1,078) Increase/(decrease) due to equity method investments (7) 0 0 0 0 0 (7) Reclassification adjustments, included in net income/(loss) 4 2 0 123 (56) 111 184 Cumulative effect of accounting changes, net of tax 0 0 0 (42) 0 (22) (64) Total increase/(decrease) 89 (392) 26 404 282 (1,374) (965) Balance at end of period 17 (13,834) 36 (3,570) 669 (2,264) (18,946) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 2Q20, 1Q20, 2Q19, 6M20 and 6M19. |
Details on significant reclassification adjustments | Details of significant reclassification adjustments in 2Q20 1Q20 2Q19 6M20 6M19 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 17 0 0 17 2 Actuarial gains/(losses) Amortization of recognized actuarial losses 1 89 90 80 179 156 Tax expense/(benefit) (16) (17) (17) (33) (33) Net of tax 73 73 63 146 123 Net prior service credit/(cost) Amortization of recognized prior service credit/(cost) 1 (41) (42) (41) (83) (71) Tax expense 7 8 9 15 15 Net of tax (34) (34) (32) (68) (56) 1 These components are included in the computation of total benefit costs. Refer to "Note 26 – Pension and other post-retirement benefits" for further information. |
Additional share information | Additional share information 2Q20 1Q20 2Q19 6M20 6M19 Common shares issued Balance at beginning of period 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 Balance at end of period 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 Treasury shares Balance at beginning of period (156,996,084) (119,761,811) (48,217,358) (119,761,811) (5,427,691) Sale of treasury shares 170,488,741 239,476,586 153,739,570 409,965,327 392,245,695 Repurchase of treasury shares (172,555,047) (280,063,390) (190,464,698) (452,618,437) (473,434,435) Share-based compensation 44,650,431 3,352,531 36,705,356 48,002,962 38,379,301 Balance at end of period (114,411,959) (156,996,084) (48,237,130) (114,411,959) (48,237,130) Common shares outstanding Balance at end of period 2,441,599,761 1 2,399,015,636 1 2,507,774,590 1 2,441,599,761 1 2,507,774,590 1 1 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,193,477 of these shares were reserved for capital instruments. |
Bank | |
Accumulated other comprehensive income | Accumulated other comprehensive income/(loss) Unrealized 1 Gains/ 6M20 (CHF million) Balance at beginning of period 28 (14,560) 30 (417) (7) (2,620) (17,546) Increase/(decrease) 168 (1,015) (52) 0 0 1,515 616 Reclassification adjustments, included in net income/(loss) 75 17 32 7 0 99 230 Total increase/(decrease) 243 (998) (20) 7 0 1,614 846 Balance at end of period 271 (15,558) 10 (410) (7) (1,006) (16,700) 6M19 (CHF million) Balance at beginning of period (58) (13,573) 9 (350) (8) (860) (14,840) Increase/(decrease) 93 (384) 27 0 0 (1,349) (1,613) Reclassification adjustments, included in net income/(loss) 0 0 0 8 0 111 119 Cumulative effect of accounting changes, net of tax 0 0 0 (42) 0 (22) (64) Total increase/(decrease) 93 (384) 27 (34) 0 (1,260) (1,558) Balance at end of period 35 (13,957) 36 (384) (8) (2,120) (16,398) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 6M20 and 6M19. |
Details on significant reclassification adjustments | Details on significant reclassification adjustments in 6M20 6M19 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 17 0 Actuarial gains/(losses) Amortization of recognized actuarial losses 1 7 10 Tax expense/(benefit) 0 (2) Net of tax 7 8 1 These components are included in the computation of total benefit costs. Refer to "Note 25 – Pension and other post-retirement benefits" for further information. |
Offsetting of financial asset_2
Offsetting of financial assets and financial liabilities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Offsetting of derivatives | Offsetting of derivatives 2Q20 4Q19 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 6.6 5.4 3.8 3.0 OTC 80.0 78.2 63.7 61.9 Exchange-traded 0.5 0.5 0.3 0.2 Interest rate products 87.1 84.1 67.8 65.1 OTC-cleared 0.2 0.3 0.1 0.2 OTC 24.0 26.9 21.0 25.4 Exchange-traded 0.0 0.0 0.0 0.0 Foreign exchange products 24.2 27.2 21.1 25.6 OTC 11.0 11.9 10.1 10.4 Exchange-traded 9.0 9.7 5.3 5.0 Equity/index-related products 20.0 21.6 15.4 15.4 OTC-cleared 0.7 0.6 2.8 3.0 OTC 5.0 5.8 3.1 4.0 Credit derivatives 5.7 6.4 5.9 7.0 OTC 1.9 1.0 1.2 0.5 Exchange-traded 0.1 0.1 0.0 0.0 Other products 1 2.0 1.1 1.2 0.5 OTC-cleared 7.5 6.3 6.7 6.2 OTC 121.9 123.8 99.1 102.2 Exchange-traded 9.6 10.3 5.6 5.2 Total gross derivatives subject to enforceable master netting agreements 139.0 140.4 111.4 113.6 Offsetting (CHF billion) OTC-cleared (6.7) (5.8) (6.0) (5.3) OTC (106.5) (114.9) (87.0) (93.6) Exchange-traded (9.0) (9.0) (4.9) (4.9) Offsetting (122.2) (129.7) (97.9) (103.8) of which counterparty netting (103.7) (103.7) (83.2) (83.2) of which cash collateral netting (18.5) (26.0) (14.7) (20.6) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.8 0.5 0.7 0.9 OTC 15.4 8.9 12.1 8.6 Exchange-traded 0.6 1.3 0.7 0.3 Total net derivatives subject to enforceable master netting agreements 16.8 10.7 13.5 9.8 Total derivatives not subject to enforceable master netting agreements 2 9.2 4.7 4.4 3.7 Total net derivatives presented in the consolidated balance sheets 26.0 15.4 17.9 13.5 of which recorded in trading assets and trading liabilities 25.8 15.4 17.7 13.5 of which recorded in other assets and other liabilities 0.2 0.0 0.2 0.0 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | Offsetting of securities purchased under resale agreements and securities borrowing transactions 2Q20 4Q19 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 79.4 (11.9) 67.5 80.6 (10.9) 69.7 Securities borrowing transactions 14.9 (0.2) 14.7 12.3 (0.5) 11.8 Total subject to enforceable master netting agreements 94.3 (12.1) 82.2 92.9 (11.4) 81.5 Total not subject to enforceable master netting agreements 1 22.7 – 22.7 25.5 – 25.5 Total 117.0 (12.1) 104.9 2 118.4 (11.4) 107.0 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 78,448 million and CHF 85,556 million of the total net amount as of the end of 2Q20 and 4Q19, respectively, are reported at fair value. |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | Offsetting of securities sold under repurchase agreements and securities lending transactions 2Q20 4Q19 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 33.3 (12.1) 21.2 28.0 (11.4) 16.6 Securities lending transactions 4.9 0.0 4.9 5.5 0.0 5.5 Obligation to return securities received as collateral, at fair value 41.4 0.0 41.4 39.0 0.0 39.0 Total subject to enforceable master netting agreements 79.6 (12.1) 67.5 72.5 (11.4) 61.1 Total not subject to enforceable master netting agreements 1 5.6 – 5.6 2.0 – 2.0 Total 85.2 (12.1) 73.1 74.5 (11.4) 63.1 of which securities sold under repurchase agreements and securities lending transactions 42.7 (12.1) 30.6 2 34.3 (11.4) 22.9 2 of which obligation to return securities received as collateral, at fair value 42.5 0.0 42.5 40.2 0.0 40.2 1 Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 17,379 million and CHF 10,715 million of the total net amount as of the end of 2Q20 and 4Q19, respectively, are reported at fair value. |
Amounts not offset in the consolidated balance sheets | Amounts not offset in the consolidated balance sheets 2Q20 4Q19 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 16.8 5.6 0.1 11.1 13.5 4.4 0.0 9.1 Securities purchased under resale agreements 67.5 67.5 0.0 0.0 69.7 69.7 0.0 0.0 Securities borrowing transactions 14.7 14.3 0.0 0.4 11.8 11.2 0.0 0.6 Total financial assets subject to enforceable master netting agreements 99.0 87.4 0.1 11.5 95.0 85.3 0.0 9.7 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 10.7 2.1 0.0 8.6 9.8 1.7 0.0 8.1 Securities sold under repurchase agreements 21.2 21.2 0.0 0.0 16.6 16.6 0.0 0.0 Securities lending transactions 4.9 4.4 0.0 0.5 5.5 4.5 0.0 1.0 Obligation to return securities received as collateral, at fair value 41.4 35.3 0.0 6.1 39.0 33.0 0.0 6.0 Total financial liabilities subject to enforceable master netting agreements 78.2 63.0 0.0 15.2 70.9 55.8 0.0 15.1 1 The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included. |
Bank | |
Offsetting of derivatives | Offsetting of derivatives 6M20 2019 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 6.6 5.4 3.9 3.0 OTC 80.0 78.3 63.6 61.9 Exchange-traded 0.5 0.5 0.3 0.2 Interest rate products 87.1 84.2 67.8 65.1 OTC-cleared 0.2 0.3 0.1 0.2 OTC 24.0 26.8 21.0 25.4 Foreign exchange products 24.2 27.1 21.1 25.6 OTC 11.0 11.9 10.1 10.4 Exchange-traded 9.0 9.7 5.3 5.0 Equity/index-related products 20.0 21.6 15.4 15.4 OTC-cleared 0.7 0.6 2.8 3.0 OTC 5.0 5.8 3.1 4.0 Credit derivatives 5.7 6.4 5.9 7.0 OTC 1.9 1.0 1.2 0.5 Exchange-traded 0.1 0.1 0.0 0.0 Other products 1 2.0 1.1 1.2 0.5 OTC-cleared 7.5 6.3 6.8 6.2 OTC 121.9 123.8 99.0 102.2 Exchange-traded 9.6 10.3 5.6 5.2 Total gross derivatives subject to enforceable master netting agreements 139.0 140.4 111.4 113.6 Offsetting (CHF billion) OTC-cleared (6.7) (5.8) (6.0) (5.3) OTC (106.5) (114.9) (87.0) (93.6) Exchange-traded (9.0) (9.0) (4.9) (4.9) Offsetting (122.2) (129.7) (97.9) (103.8) of which counterparty netting (103.6) (103.6) (83.2) (83.2) of which cash collateral netting (18.6) (26.1) (14.7) (20.6) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.8 0.5 0.8 0.9 OTC 15.4 8.9 12.0 8.6 Exchange-traded 0.6 1.3 0.7 0.3 Total net derivatives subject to enforceable master netting agreements 16.8 10.7 13.5 9.8 Total derivatives not subject to enforceable master netting agreements 2 9.2 4.7 4.4 3.7 Total net derivatives presented in the consolidated balance sheets 26.0 15.4 17.9 13.5 of which recorded in trading assets and trading liabilities 25.8 15.4 17.7 13.5 of which recorded in other assets and other liabilities 0.2 0.0 0.2 0.0 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | Offsetting of securities purchased under resale agreements and securities borrowing transactions 6M20 2019 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 79.4 (11.9) 67.5 80.6 (10.9) 69.7 Securities borrowing transactions 14.9 (0.2) 14.7 12.3 (0.5) 11.8 Total subject to enforceable master netting agreements 94.3 (12.1) 82.2 92.9 (11.4) 81.5 Total not subject to enforceable master netting agreements 1 22.7 – 22.7 25.5 – 25.5 Total 117.0 (12.1) 104.9 2 118.4 (11.4) 107.0 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 78,448 million and CHF 85,556 million of the total net amount as of the end of 6M20 and 2019, respectively, are reported at fair value. |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | Offsetting of securities sold under repurchase agreements and securities lending transactions 6M20 2019 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 33.4 (12.1) 21.3 28.1 (11.4) 16.7 Securities lending transactions 4.9 0.0 4.9 5.5 0.0 5.5 Obligation to return securities received as collateral, at fair value 41.4 0.0 41.4 39.0 0.0 39.0 Total subject to enforceable master netting agreements 79.7 (12.1) 67.6 72.6 (11.4) 61.2 Total not subject to enforceable master netting agreements 1 5.6 – 5.6 2.0 – 2.0 Total 85.3 (12.1) 73.2 74.6 (11.4) 63.2 of which securities sold under repurchase agreements and securities lending transactions 42.8 (12.1) 30.7 2 34.4 (11.4) 23.0 2 of which obligation to return securities received as collateral, at fair value 42.5 0.0 42.5 40.2 0.0 40.2 1 Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 17,473 million and CHF 10,823 million of the total net amount as of the end of 6M20 and 2019, respectively, are reported at fair value. |
Amounts not offset in the consolidated balance sheets | Amounts not offset in the consolidated balance sheets 6M20 2019 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 16.8 5.6 0.1 11.1 13.5 4.4 0.0 9.1 Securities purchased under resale agreements 67.5 67.5 0.0 0.0 69.7 69.7 0.0 0.0 Securities borrowing transactions 14.7 14.3 0.0 0.4 11.8 11.2 0.0 0.6 Total financial assets subject to enforceable master netting agreements 99.0 87.4 0.1 11.5 95.0 85.3 0.0 9.7 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 10.7 2.1 0.0 8.6 9.8 1.7 0.0 8.1 Securities sold under repurchase agreements 21.3 21.3 0.0 0.0 16.7 16.7 0.0 0.0 Securities lending transactions 4.9 4.4 0.0 0.5 5.5 4.5 0.0 1.0 Obligation to return securities received as collateral, at fair value 41.4 35.3 0.0 6.1 39.0 33.0 0.0 6.0 Total financial liabilities subject to enforceable master netting agreements 78.3 63.1 0.0 15.2 71.0 55.9 0.0 15.1 1 The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included. |
Tax (Tables)
Tax (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Reconciliation of taxes computed at the Swiss statutory rate | Tax expense reconciliation in 2Q20 CHF million Income tax expense computed at the Swiss statutory tax rate of 20% 310 Increase/(decrease) in income taxes resulting from Foreign tax rate differential 7 Other non-deductible expenses 45 Changes in deferred tax valuation allowance (22) Lower taxed income (46) (Windfall tax benefits)/shortfall tax charges on share-based compensation 66 Other 31 Income tax expense/(benefit) 391 |
Effective tax rate | Effective tax rate in 2Q20 1Q20 2Q19 6M20 6M19 Effective tax rate (%) 25.2 (9.2) 28.0 10.2 28.7 |
Net deferred tax assets | Net deferred tax assets end of 2Q20 1Q20 Net deferred tax assets (CHF million) Deferred tax assets 4,020 4,157 of which net operating losses 1,445 1,505 of which deductible temporary differences 2,575 2,652 Deferred tax liabilities (646) (977) Net deferred tax assets 3,374 3,180 |
Bank | |
Reconciliation of taxes computed at the Swiss statutory rate | Tax expense reconciliation in 6M20 CHF million Income tax expense computed at the statutory tax rate of 20% 516 Increase/(decrease) in income taxes resulting from Foreign tax rate differential 4 Other non-deductible expenses 23 Changes in deferred tax valuation allowance (12) Lower taxed income (84) (Windfall tax benefits)/shortfall tax charges on share-based compensation 70 Other (273) Income tax expense 244 |
Effective tax rate | Effective tax rate in 6M20 6M19 Effective tax rate (%) 9.5 31.0 |
Net deferred tax assets | Net deferred tax assets end of 6M20 2019 Net deferred tax assets (CHF million) Deferred tax assets 3,959 4,337 of which net operating losses 1,410 1,437 of which deductible temporary differences 2,549 2,900 Deferred tax liabilities (238) (167) Net deferred tax assets 3,721 4,170 |
Employee deferred compensation
Employee deferred compensation (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Share-based compensation disclosures | |
Deferred compensation expense | Deferred compensation expense in 2Q20 1Q20 2Q19 6M20 6M19 Deferred compensation expense (CHF million) Share awards 144 155 148 1 299 298 1 Performance share awards 120 113 122 233 230 Contingent Capital Awards 100 (14) 83 86 160 Deferred cash awards 138 10 96 1 148 186 1 Retention awards 10 9 3 1 19 8 1 Total deferred compensation expense 512 273 452 785 882 1 Prior period has been reclassified to conform to the current presentation. |
Additional information | Estimated unrecognized deferred compensation end of 2Q20 Estimated unrecognized compensation expense (CHF million) Share awards 756 Performance share awards 443 Contingent Capital Awards 289 Deferred cash awards 398 Retention Awards 45 Total 1,931 Aggregate remaining weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.2 |
Share-based award activities | Share-based award activity 2Q20 6M20 Performance Performance Share-based award activities Balance at beginning of period 166.3 122.1 110.5 72.4 Granted 6.7 0.0 68.2 50.9 Settled (40.4) (25.6) (45.2) (26.8) Forfeited (1.0) (0.5) (1.9) (0.5) Balance at end of period 131.6 96.0 131.6 96.0 of which vested 10.4 8.7 10.4 8.7 of which unvested 121.2 87.3 121.2 87.3 |
Bank | |
Share-based compensation disclosures | |
Deferred compensation expense | Deferred compensation expense in 6M20 6M19 Deferred compensation expense (CHF million) Share awards 289 291 1 Performance share awards 220 223 Contingent Capital Awards 83 156 Deferred cash awards 143 168 1 Retention awards 19 8 1 Total deferred compensation expense 754 846 1 Prior period has been reclassifed to conform to the current presentation. |
Additional information | Estimated unrecognized deferred compensation end of 6M20 Estimated unrecognized compensation expense (CHF million) Share awards 734 Performance share awards 424 Contingent Capital Awards 277 Deferred cash awards 377 Retention awards 45 Total 1,857 Weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.2 |
Share-based award activities | Share-based award activity 6M20 Performance Share-based award activities Balance at beginning of period 101.9 69.7 Granted 63.2 48.9 Settled (42.7) (26.1) Forfeited (2.0) (0.5) Balance at end of period 120.4 92.0 of which vested 9.1 7.9 of which unvested 111.3 84.1 |
Pension and other post-retire_2
Pension and other post-retirement benefits (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Components of total pension costs | Components of net periodic benefit costs in 2Q20 1Q20 2Q19 6M20 6M19 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 55 54 68 109 135 Interest costs on benefit obligation 23 24 34 47 80 Expected return on plan assets (109) (110) (126) (219) (251) Amortization of recognized prior service cost/(credit) (41) (42) (41) (83) (71) Amortization of recognized actuarial losses 87 87 80 174 156 Settlement losses/(gains) 2 3 0 5 0 Special termination benefits 0 3 2 3 10 Net periodic benefit costs 17 19 17 36 59 Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses. |
Bank | |
Components of total pension costs | Components of net periodic benefit costs in 6M20 6M19 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 8 8 Interest costs on benefit obligation 37 50 Expected return on plan assets (44) (55) Amortization of recognized prior service cost/(credit) 1 0 Amortization of recognized actuarial losses 7 10 Net periodic benefit costs 9 13 Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses. |
Derivatives and hedging activ_2
Derivatives and hedging activities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Fair value of derivative instruments | Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 7,009.8 2.9 2.7 0.0 0.0 0.0 Swaps 9,378.4 60.1 58.0 135.0 1.0 0.1 Options bought and sold (OTC) 1,267.9 23.9 23.8 0.0 0.0 0.0 Futures 299.4 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 165.1 0.5 0.5 0.0 0.0 0.0 Interest rate products 18,120.6 87.4 85.0 135.0 1.0 0.1 Forwards 1,064.6 8.3 9.0 13.9 0.1 0.0 Swaps 362.1 13.3 14.9 0.0 0.0 0.0 Options bought and sold (OTC) 314.2 3.5 4.0 0.0 0.0 0.0 Futures 8.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.5 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,750.2 25.1 27.9 13.9 0.1 0.0 Forwards 1.1 0.0 0.1 0.0 0.0 0.0 Swaps 154.7 8.4 5.9 0.0 0.0 0.0 Options bought and sold (OTC) 231.8 8.8 8.0 0.0 0.0 0.0 Futures 32.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 498.0 9.3 10.0 0.0 0.0 0.0 Equity/index-related products 917.9 26.5 24.0 0.0 0.0 0.0 Credit derivatives 2 570.9 6.1 6.7 0.0 0.0 0.0 Forwards 16.6 0.4 0.4 0.0 0.0 0.0 Swaps 9.8 1.1 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 21.2 0.4 0.4 0.0 0.0 0.0 Futures 16.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 3.5 0.1 0.1 0.0 0.0 0.0 Other products 3 68.0 2.0 1.4 0.0 0.0 0.0 Total derivative instruments 21,427.6 147.1 145.0 148.9 1.1 0.1 The notional amount, PRV and NRV (trading and hedging) was CHF 21,576.5 billion, CHF 148.2 billion and CHF 145.1 billion, respectively, as of June 30, 2020. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 6,226.5 0.9 0.9 0.0 0.0 0.0 Swaps 9,183.5 50.8 48.4 113.2 0.5 0.1 Options bought and sold (OTC) 1,355.4 16.3 16.4 0.0 0.0 0.0 Futures 264.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 103.4 0.3 0.2 0.0 0.0 0.0 Interest rate products 17,133.0 68.3 65.9 113.2 0.5 0.1 Forwards 1,073.5 8.0 9.1 14.1 0.1 0.1 Swaps 389.5 10.9 13.7 0.0 0.0 0.0 Options bought and sold (OTC) 270.8 3.0 3.5 0.0 0.0 0.0 Futures 9.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.1 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,743.0 21.9 26.3 14.1 0.1 0.1 Forwards 1.0 0.0 0.0 0.0 0.0 0.0 Swaps 175.2 4.3 4.6 0.0 0.0 0.0 Options bought and sold (OTC) 213.6 7.7 7.3 0.0 0.0 0.0 Futures 41.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 427.2 5.4 5.1 0.0 0.0 0.0 Equity/index-related products 858.2 17.4 17.0 0.0 0.0 0.0 Credit derivatives 2 538.1 6.2 7.2 0.0 0.0 0.0 Forwards 13.2 0.2 0.1 0.0 0.0 0.0 Swaps 11.6 1.0 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 15.5 0.2 0.1 0.0 0.0 0.0 Futures 14.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.7 0.0 0.0 0.0 0.0 0.0 Other products 3 56.8 1.4 0.7 0.0 0.0 0.0 Total derivative instruments 20,329.1 115.2 117.1 127.3 0.6 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 20,456.4 billion, CHF 115.8 billion and CHF 117.3 billion, respectively, as of December 31, 2019. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. |
Fair value hedges | Gains or (losses) on fair value hedges in 2Q20 1Q20 2Q19 6M20 6M19 Interest rate products (CHF million) Hedged items 1 (205) (2,169) (991) (2,374) (1,698) Derivatives designated as hedging instruments 1 212 2,014 937 2,226 1,580 The accrued interest on fair value hedges is recorded in net interest income and is excluded from this table. 1 Included in net interest income. Hedged items in fair value hedges 2Q20 4Q19 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets and liabilities (CHF billion) Net loans 18.3 0.2 0.6 15.2 0.1 0.7 Long-term debt 78.8 2.7 1.1 65.8 1.2 0.3 1 Relates to the cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to the cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. |
Cash flow hedges | Cash flow hedges in 2Q20 1Q20 2Q19 6M20 6M19 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives 21 267 71 288 120 Gains/(losses) reclassified from AOCI into interest and dividend income 0 (42) 1 (42) 2 Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (5) (79) (10) (84) (7) Trading revenues 0 (30) 5 (30) 4 Other revenues 0 0 (2) 0 (4) Total other operating expenses (5) (6) (5) (11) (6) Gains/(losses) reclassified from AOCI into income (5) (36) (2) (41) (6) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 1 0 1 (4) 1 (7) 1 Related to the forward points of a foreign currency forward. |
Net investment hedges | Net investment hedges in 2Q20 1Q20 2Q19 6M20 6M19 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI (38) 519 9 481 (121) Gains/(losses) reclassified from the cumulative translation adjustments section of AOCI into other revenues 9 0 0 9 0 |
Credit protection sold/purchased | Credit protection sold/purchased 2Q20 4Q19 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (56.0) 49.6 (6.4) 14.2 0.2 (52.6) 47.9 (4.7) 11.5 0.5 Non-investment grade (31.0) 28.5 (2.5) 14.1 (0.4) (32.1) 29.5 (2.6) 16.1 0.9 Total single-name instruments (87.0) 78.1 (8.9) 28.3 (0.2) (84.7) 77.4 (7.3) 27.6 1.4 of which sovereign (14.5) 13.3 (1.2) 5.5 (0.1) (17.2) 15.4 (1.8) 4.1 0.0 of which non-sovereign (72.5) 64.8 (7.7) 22.8 (0.1) (67.5) 62.0 (5.5) 23.5 1.4 Multi-name instruments (CHF billion) Investment grade 2 (114.4) 111.2 (3.2) 37.4 (1.2) (109.5) 108.9 (0.6) 44.0 0.7 Non-investment grade (44.3) 39.7 (4.6) 14.7 3 (0.3) (27.7) 24.5 (3.2) 17.1 3 1.0 Total multi-name instruments (158.7) 150.9 (7.8) 52.1 (1.5) (137.2) 133.4 (3.8) 61.1 1.7 of which non-sovereign (158.7) 150.9 (7.8) 52.1 (1.5) (137.2) 133.4 (3.8) 61.1 1.7 Total instruments (CHF billion) Investment grade 2 (170.4) 160.8 (9.6) 51.6 (1.0) (162.1) 156.8 (5.3) 55.5 1.2 Non-investment grade (75.3) 68.2 (7.1) 28.8 (0.7) (59.8) 54.0 (5.8) 33.2 1.9 Total instruments (245.7) 229.0 (16.7) 80.4 (1.7) (221.9) 210.8 (11.1) 88.7 3.1 of which sovereign (14.5) 13.3 (1.2) 5.5 (0.1) (17.2) 15.4 (1.8) 4.1 0.0 of which non-sovereign (231.2) 215.7 (15.5) 74.9 (1.6) (204.7) 195.4 (9.3) 84.6 3.1 1 Represents credit protection purchased with identical underlyings and recoveries. 2 Based on internal ratings of BBB and above. 3 Includes synthetic securitized loan portfolios. |
Contingent credit risk | Contingent credit risk 2Q20 4Q19 Special Special Contingent credit risk (CHF billion) Current net exposure 3.4 0.0 0.5 3.9 3.1 0.0 0.3 3.4 Collateral posted 3.0 0.1 – 3.1 2.7 0.1 – 2.8 Impact of a one-notch downgrade event 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.1 Impact of a two-notch downgrade event 0.0 0.0 0.0 0.0 0.2 0.0 0.0 0.2 Impact of a three-notch downgrade event 0.6 0.1 0.2 0.9 0.7 0.1 0.1 0.9 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. |
Reconciliation of notional amount of credit derivatives included in fair value of derivative instruments to credit protection sold/purchased | Credit derivatives end of 2Q20 4Q19 Credit derivatives (CHF billion) Credit protection sold 245.7 221.9 Credit protection purchased 229.0 210.8 Other protection purchased 80.4 88.7 Other instruments 1 15.8 16.7 Total credit derivatives 570.9 538.1 1 Consists of total return swaps and other derivative instruments. |
Maturity of credit protection sold | Maturity of credit protection sold Maturity Maturity Maturity 2Q20 (CHF billion) Single-name instruments 18.7 63.2 5.1 87.0 Multi-name instruments 39.3 105.7 13.7 158.7 Total instruments 58.0 168.9 18.8 245.7 4Q19 (CHF billion) Single-name instruments 19.2 60.6 4.9 84.7 Multi-name instruments 41.9 79.8 15.5 137.2 Total instruments 61.1 140.4 20.4 221.9 |
Bank | |
Fair value of derivative instruments | Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 7,009.8 2.9 2.7 0.0 0.0 0.0 Swaps 9,379.3 60.1 58.1 135.0 1.0 0.1 Options bought and sold (OTC) 1,267.9 23.9 23.8 0.0 0.0 0.0 Futures 299.4 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 165.1 0.5 0.5 0.0 0.0 0.0 Interest rate products 18,121.5 87.4 85.1 135.0 1.0 0.1 Forwards 1,064.6 8.3 9.0 13.9 0.1 0.0 Swaps 362.1 13.3 14.9 0.0 0.0 0.0 Options bought and sold (OTC) 314.2 3.5 4.0 0.0 0.0 0.0 Futures 8.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.5 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,750.2 25.1 27.9 13.9 0.1 0.0 Forwards 1.1 0.0 0.1 0.0 0.0 0.0 Swaps 154.7 8.4 5.9 0.0 0.0 0.0 Options bought and sold (OTC) 231.8 8.8 8.0 0.0 0.0 0.0 Futures 32.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 498.0 9.3 10.0 0.0 0.0 0.0 Equity/index-related products 917.9 26.5 24.0 0.0 0.0 0.0 Credit derivatives 2 570.9 6.1 6.7 0.0 0.0 0.0 Forwards 16.6 0.4 0.4 0.0 0.0 0.0 Swaps 9.8 1.1 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 21.2 0.4 0.3 0.0 0.0 0.0 Futures 16.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 3.5 0.1 0.1 0.0 0.0 0.0 Other products 3 68.0 2.0 1.3 0.0 0.0 0.0 Total derivative instruments 21,428.5 147.1 145.0 148.9 1.1 0.1 The notional amount, PRV and NRV (trading and hedging) was CHF 21,577.4 billion, CHF 148.2 billion and CHF 145.1 billion, respectively, as of June 30, 2020. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 6,226.5 0.9 0.9 0.0 0.0 0.0 Swaps 9,184.5 50.8 48.4 113.2 0.5 0.1 Options bought and sold (OTC) 1,355.4 16.3 16.4 0.0 0.0 0.0 Futures 264.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 103.4 0.3 0.2 0.0 0.0 0.0 Interest rate products 17,134.0 68.3 65.9 113.2 0.5 0.1 Forwards 1,073.5 8.0 9.1 14.1 0.1 0.1 Swaps 389.5 10.9 13.7 0.0 0.0 0.0 Options bought and sold (OTC) 270.8 3.0 3.5 0.0 0.0 0.0 Futures 9.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.1 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,743.0 21.9 26.3 14.1 0.1 0.1 Forwards 1.0 0.0 0.0 0.0 0.0 0.0 Swaps 175.2 4.3 4.6 0.0 0.0 0.0 Options bought and sold (OTC) 213.6 7.7 7.3 0.0 0.0 0.0 Futures 41.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 427.2 5.4 5.1 0.0 0.0 0.0 Equity/index-related products 858.2 17.4 17.0 0.0 0.0 0.0 Credit derivatives 2 538.1 6.2 7.2 0.0 0.0 0.0 Forwards 13.2 0.2 0.1 0.0 0.0 0.0 Swaps 11.6 1.0 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 15.5 0.2 0.1 0.0 0.0 0.0 Futures 14.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.7 0.0 0.0 0.0 0.0 0.0 Other products 3 56.8 1.4 0.7 0.0 0.0 0.0 Total derivative instruments 20,330.1 115.2 117.1 127.3 0.6 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 20,457.4 billion, CHF 115.8 billion and CHF 117.3 billion, respectively, as of December 31, 2019. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. |
Fair value hedges | Gains or losses on fair value hedges in 6M20 6M19 Interest rate products (CHF million) Hedged items 1 (2,374) (1,698) Derivatives designated as hedging instruments 1 2,226 1,580 The accrued interest on fair value hedges is recorded in net interest income and is excluded from this table. 1 Included in net interest income. Hedged items in fair value hedges 6M20 2019 Hedged items Hedged items Carrying Hedging 1 Disconti- 2 Carrying Hedging 1 Disconti- 2 Assets and liabilities (CHF billion) Net loans 18.3 0.2 0.6 15.2 0.1 0.7 Long-term debt 78.8 2.7 1.1 65.8 1.2 0.3 1 Relates to the cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to the cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. |
Cash flow hedges | Cash flow hedges in 6M20 6M19 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives 288 120 Gains/(losses) reclassified from AOCI into interest and dividend income (42) 2 Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (84) (1) Trading revenues (30) 4 Total other operating expenses (11) (6) Gains/(losses) reclassified from AOCI into income (41) (2) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 1 1 (7) |
Net investment hedges | Net investment hedges in 6M20 6M19 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI 476 (119) Gains/(losses) reclassified from the cumulative translation adjustments section of AOCI into other revenues 9 0 |
Credit protection sold/purchased | Credit protection sold/purchased 6M20 2019 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (56.0) 49.6 (6.4) 14.2 0.2 (52.6) 47.9 (4.7) 11.5 0.5 Non-investment grade (31.0) 28.5 (2.5) 14.1 (0.4) (32.1) 29.5 (2.6) 16.1 0.9 Total single-name instruments (87.0) 78.1 (8.9) 28.3 (0.2) (84.7) 77.4 (7.3) 27.6 1.4 of which sovereign (14.5) 13.3 (1.2) 5.5 (0.1) (17.2) 15.4 (1.8) 4.1 0.0 of which non-sovereign (72.5) 64.8 (7.7) 22.8 (0.1) (67.5) 62.0 (5.5) 23.5 1.4 Multi-name instruments (CHF billion) Investment grade 2 (114.4) 111.2 (3.2) 37.4 (1.2) (109.5) 108.9 (0.6) 44.0 0.7 Non-investment grade (44.3) 39.7 (4.6) 14.7 3 (0.3) (27.7) 24.5 (3.2) 17.1 3 1.0 Total multi-name instruments (158.7) 150.9 (7.8) 52.1 (1.5) (137.2) 133.4 (3.8) 61.1 1.7 of which non-sovereign (158.7) 150.9 (7.8) 52.1 (1.5) (137.2) 133.4 (3.8) 61.1 1.7 Total instruments (CHF billion) Investment grade 2 (170.4) 160.8 (9.6) 51.6 (1.0) (162.1) 156.8 (5.3) 55.5 1.2 Non-investment grade (75.3) 68.2 (7.1) 28.8 (0.7) (59.8) 54.0 (5.8) 33.2 1.9 Total instruments (245.7) 229.0 (16.7) 80.4 (1.7) (221.9) 210.8 (11.1) 88.7 3.1 of which sovereign (14.5) 13.3 (1.2) 5.5 (0.1) (17.2) 15.4 (1.8) 4.1 0.0 of which non-sovereign (231.2) 215.7 (15.5) 74.9 (1.6) (204.7) 195.4 (9.3) 84.6 3.1 1 Represents credit protection purchased with identical underlyings and recoveries. 2 Based on internal ratings of BBB and above. 3 Includes synthetic securitized loan portfolios. |
Contingent credit risk | Contingent credit risk 6M20 2019 Special Special Contingent credit risk (CHF billion) Current net exposure 3.4 0.0 0.5 3.9 3.1 0.0 0.3 3.4 Collateral posted 3.0 0.1 – 3.1 2.7 0.1 – 2.8 Impact of a one-notch downgrade event 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.1 Impact of a two-notch downgrade event 0.0 0.0 0.0 0.0 0.2 0.0 0.0 0.2 Impact of a three-notch downgrade event 0.6 0.1 0.2 0.9 0.7 0.1 0.1 0.9 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. |
Reconciliation of notional amount of credit derivatives included in fair value of derivative instruments to credit protection sold/purchased | Credit derivatives end of 6M20 2019 Credit derivatives (CHF billion) Credit protection sold 245.7 221.9 Credit protection purchased 229.0 210.8 Other protection purchased 80.4 88.7 Other instruments 1 15.8 16.7 Total credit derivatives 570.9 538.1 1 Consists of total return swaps and other derivative instruments. |
Maturity of credit protection sold | Maturity of credit protection sold Maturity Maturity Maturity 6M20 (CHF billion) Single-name instruments 18.7 63.2 5.1 87.0 Multi-name instruments 39.3 105.7 13.7 158.7 Total instruments 58.0 168.9 18.8 245.7 2019 (CHF billion) Single-name instruments 19.2 60.6 4.9 84.7 Multi-name instruments 41.9 79.8 15.5 137.2 Total instruments 61.1 140.4 20.4 221.9 |
Guarantees and commitments (Tab
Guarantees and commitments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Guarantees | Guarantees Maturity Maturity Total Total 1 2Q20 (CHF million) Credit guarantees and similar instruments 1,974 1,206 3,180 3,116 51 1,573 Performance guarantees and similar instruments 4,625 2,324 6,949 5,962 72 2,551 Securities lending indemnifications 1,449 0 1,449 1,449 0 1,449 Derivatives 2 8,848 4,981 13,829 13,829 561 – 3 Other guarantees 4,918 1,394 6,312 6,276 94 3,720 Total guarantees 21,814 9,905 31,719 30,632 778 9,293 4Q19 (CHF million) Credit guarantees and similar instruments 2,206 908 3,114 3,061 10 1,655 Performance guarantees and similar instruments 4,942 3,915 8,857 7,833 31 2,793 Derivatives 2 13,194 4,050 17,244 17,244 295 – 3 Other guarantees 4,257 2,246 6,503 6,457 64 4,003 Total guarantees 24,599 11,119 35,718 34,595 400 8,451 1 Total net amount is computed as the gross amount less any participations. 2 Excludes derivative contracts with certain active commercial and investment banks and certain other counterparties, as such contracts can be cash settled and the Group had no basis to conclude it was probable that the counterparties held, at inception, the underlying instruments. 3 Collateral for derivatives accounted for as guarantees is not significant. |
Other commitments | Other commitments 2Q20 4Q19 Maturity Maturity Total Total 1 Maturity Maturity Total Total 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 3,285 53 3,338 3,248 2,073 4,434 163 4,597 4,518 3,077 Irrevocable loan commitments 2 19,662 89,255 108,917 104,992 48,456 27,145 97,982 125,127 120,436 60,118 Forward reverse repurchase agreements 127 0 127 127 127 41 0 41 41 41 Other commitments 299 182 481 481 49 630 300 930 930 127 Total other commitments 23,373 89,490 112,863 108,848 50,705 32,250 98,445 130,695 125,925 63,363 1 Total net amount is computed as the gross amount less any participations. 2 Irrevocable loan commitments do not include a total gross amount of CHF 125,564 million and CHF 128,294 million of unused credit limits as of the end of 2Q20 and 4Q19 respectively, which were revocable at the Group's sole discretion upon notice to the client. |
Bank | |
Guarantees | Guarantees Maturity Maturity 1 6M20 (CHF million) Credit guarantees and similar instruments 1,974 1,210 3,184 3,120 51 1,573 Performance guarantees and similar instruments 4,625 2,324 6,949 5,962 72 2,551 Securities lending indemnifications 1,449 0 1,449 1,449 0 1,449 Derivatives 2 8,848 4,981 13,829 13,829 561 – 3 Other guarantees 4,918 1,394 6,312 6,276 94 3,720 Total guarantees 21,814 9,909 31,723 30,636 778 9,293 2019 (CHF million) Credit guarantees and similar instruments 2,206 912 3,118 3,065 10 1,655 Performance guarantees and similar instruments 4,942 3,915 8,857 7,833 31 2,793 Derivatives 2 13,194 4,050 17,244 17,244 295 – 3 Other guarantees 4,257 2,246 6,503 6,457 64 4,003 Total guarantees 24,599 11,123 35,722 34,599 400 8,451 1 Total net amount is computed as the gross amount less any participations. 2 Excludes derivative contracts with certain active commercial and investment banks and certain other counterparties, as such contracts can be cash settled and the Bank had no basis to conclude it was probable that the counterparties held, at inception, the underlying instruments. 3 Collateral for derivatives accounted for as guarantees is not considered significant. |
Other commitments | Other commitments 6M20 2019 Maturity Maturity 1 Maturity Maturity 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 3,285 53 3,338 3,248 2,073 4,434 163 4,597 4,518 3,077 Irrevocable loan commitments 19,662 89,255 108,917 2 104,992 48,456 27,145 97,982 125,127 2 120,436 60,118 Forward reverse repurchase agreements 127 0 127 127 127 41 0 41 41 41 Other commitments 299 182 481 481 49 630 300 930 930 127 Total other commitments 23,373 89,490 112,863 108,848 50,705 32,250 98,445 130,695 125,925 63,363 1 Total net amount is computed as the gross amount less any participations. 2 Irrevocable loan commitments do not include a total gross amount of CHF 125,565 million and CHF 128,295 million of unused credit limits as of the end of 6M20 and 2019, respectively, which were revocable at the Bank's sole discretion upon notice to the client. The prior period has been adjusted to the current presentation. |
Transfers of financial assets_2
Transfers of financial assets and variable interest entities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Securitizations | Securitizations in 6M20 6M19 Gains/(losses) and cash flows (CHF million) CMBS Net gain/(loss) 1 30 (1) Proceeds from transfer of assets 4,862 3,632 Cash received on interests that continue to be held 21 19 RMBS Net gain/(loss) 1 22 (4) Proceeds from transfer of assets 11,373 8,045 Purchases of previously transferred financial assets or its underlying collateral 0 (1) Servicing fees 1 1 Cash received on interests that continue to be held 457 116 Other asset-backed financings Net gain 1 61 48 Proceeds from transfer of assets 4,766 4,801 Purchases of previously transferred financial assets or its underlying collateral (638) (389) Fees 2 72 74 Cash received on interests that continue to be held 11 3 1 Includes underwriting revenues, deferred origination fees, gains or losses on the sale of collateral to the SPE and gains or losses on the sale of newly issued securities to third parties, but excludes net interest income on assets prior to the securitization. The gains or losses on the sale of the collateral is the difference between the fair value on the day prior to the securitization pricing date and the sale price of the loans. 2 Represents management fees and performance fees earned for investment management services provided to managed CLOs. |
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 2Q20 4Q19 CHF million CMBS Principal amount outstanding 20,184 21,079 Total assets of SPE 26,731 28,748 RMBS Principal amount outstanding 55,801 54,001 Total assets of SPE 57,228 55,595 Other asset-backed financings Principal amount outstanding 25,905 27,982 Total assets of SPE 50,594 54,974 Principal amount outstanding relates to assets transferred from the Group and does not include principal amounts for assets transferred from third parties. |
Key economic assumptions used in measuring fair value of beneficial interests at time of transfer | Key economic assumptions used in measuring fair value of beneficial interests at time of transfer 6M20 6M19 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 172 1,646 281 885 of which level 2 158 1,465 264 826 of which level 3 14 181 17 59 Weighted-average life, in years 8.1 3.6 4.1 4.7 Prepayment speed assumption (rate per annum), in % 1 – 2 1.0 – 38.2 – 2 2.0 – 37.3 Cash flow discount rate (rate per annum), in % 3 1.4 – 9.2 0.7 – 24.7 2.5 – 8.3 2.3 – 11.6 Expected credit losses (rate per annum), in % 4 4.0 – 8.6 3.3 – 22.9 1.3 – 5.8 1.7 – 3.4 Transfers of assets in which the Group does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate is based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Key economic assumptions used in measuring fair value of beneficial interests held in SPEs | Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 2Q20 4Q19 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 330 2,494 662 399 2,282 751 of which non-investment grade 40 860 19 46 711 15 Weighted-average life, in years 6.5 3.6 2.2 6.4 5.7 1.6 Prepayment speed assumption (rate per annum), in % 3 – 1.0 – 46.4 – – 3.0 – 35.7 – Impact on fair value from 10% adverse change – (52.7) – – (38.1) – Impact on fair value from 20% adverse change – (99.9) – – (72.6) – Cash flow discount rate (rate per annum), in % 4 1.3 – 22.4 0.6 – 42.0 1.1 – 25.4 2.2 – 15.2 1.5 – 36.2 0.7 – 13.1 Impact on fair value from 10% adverse change (4.7) (32.5) (3.2) (6.8) (38.3) (2.1) Impact on fair value from 20% adverse change (9.3) (62.3) (6.3) (13.4) (74.7) (4.2) Expected credit losses (rate per annum), in % 5 1.4 – 10.9 0.2 – 29.7 1.1 – 25.4 0.5 – 8.5 1.1 – 34.5 0.7 – 12.8 Impact on fair value from 10% adverse change (4.1) (30.2) (3.2) (4.1) (24.1) (2.0) Impact on fair value from 20% adverse change (8.0) (58.0) (6.3) (8.1) (47.3) (4.0) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs and CLOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate is based on the weighted-average yield on the beneficial interests. 5 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved | Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 2Q20 4Q19 CHF million Other asset-backed financings Trading assets 562 279 Other assets 184 0 Liability to SPE, included in other liabilities (746) (279) |
Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 2Q20 4Q19 CHF billion Government debt securities 20.9 16.4 Corporate debt securities 8.1 8.6 Asset-backed securities 5.5 2.5 Equity securities 0.8 0.7 Other 1.2 0.2 Securities sold under repurchase agreements 36.5 28.4 Government debt securities 0.9 0.1 Corporate debt securities 0.1 0.1 Equity securities 5.2 5.4 Other 0.1 0.1 Securities lending transactions 6.3 5.7 Government debt securities 5.4 5.3 Corporate debt securities 4.1 1.8 Asset-backed securities 0.1 0.1 Equity securities 32.9 33.0 Obligation to return securities received as collateral, at fair value 42.5 40.2 Total 85.3 74.3 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities 1 Up to 2 31–90 More than 2Q20 (CHF billion) Securities sold under repurchase agreements 5.6 20.1 4.3 6.5 36.5 Securities lending transactions 5.5 0.5 0.2 0.1 6.3 Obligation to return securities received as collateral, at fair value 41.9 0.3 0.2 0.1 42.5 Total 53.0 20.9 4.7 6.7 85.3 4Q19 (CHF billion) Securities sold under repurchase agreements 5.2 15.1 5.9 2.2 28.4 Securities lending transactions 5.7 0.0 0.0 0.0 5.7 Obligation to return securities received as collateral, at fair value 40.0 0.1 0.1 0.0 40.2 Total 50.9 15.2 6.0 2.2 74.3 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. |
Consolidated VIEs in which the Group was primary beneficiary | Consolidated VIEs in which the Group was the primary beneficiary Financial intermediation CDO/ CP Securi- 2Q20 (CHF million) Cash and due from banks 0 4 35 10 37 10 96 Trading assets 0 0 1,397 48 962 16 2,423 Other investments 0 0 0 163 1,066 242 1,471 Net loans 0 505 54 45 33 206 843 Other assets 0 21 1,011 4 117 863 2,016 of which loans held-for-sale 0 0 429 0 0 0 429 of which premises and equipment 0 0 0 0 32 11 43 Total assets of consolidated VIEs 0 530 2,497 270 2,215 1,337 6,849 Trading liabilities 0 0 0 0 11 0 11 Short-term borrowings 0 4,515 0 0 0 0 4,515 Long-term debt 0 0 1,759 0 11 33 1,803 Other liabilities 0 57 2 4 86 102 251 Total liabilities of consolidated VIEs 0 4,572 1,761 4 108 135 6,580 4Q19 (CHF million) Cash and due from banks 6 1 71 11 39 10 138 Trading assets 75 0 1,554 82 1,063 14 2,788 Other investments 0 0 0 113 1,052 247 1,412 Net loans 0 325 53 1 29 241 649 Other assets 1 21 638 4 87 943 1,694 of which loans held-for-sale 0 0 93 0 0 0 93 of which premises and equipment 0 0 0 0 36 8 44 Total assets of consolidated VIEs 82 347 2,316 211 2,270 1,455 6,681 Trading liabilities 0 0 0 0 8 0 8 Short-term borrowings 0 4,885 0 0 0 0 4,885 Long-term debt 7 0 1,614 1 13 36 1,671 Other liabilities 0 54 1 4 92 146 297 Total liabilities of consolidated VIEs 7 4,939 1,615 5 113 182 6,861 |
Non-consolidated VIEs | Non-consolidated VIEs Financial intermediation CDO/ Securi- 2Q20 (CHF million) Trading assets 198 5,176 934 81 7,513 13,902 Net loans 485 797 2,029 7,712 1,031 12,054 Other assets 14 79 124 0 543 760 Total variable interest assets 697 6,052 3,087 7,793 9,087 26,716 Maximum exposure to loss 764 7,636 3,087 11,675 9,559 32,721 Total assets of non-consolidated VIEs 7,498 165,338 120,087 28,657 45,925 367,505 4Q19 (CHF million) Trading assets 230 4,897 962 109 4,311 10,509 Net loans 456 904 1,945 7,930 709 11,944 Other assets 3 26 518 0 380 927 Total variable interest assets 689 5,827 3,425 8,039 5,400 23,380 Maximum exposure to loss 785 7,664 3,430 12,239 5,937 30,055 Total assets of non-consolidated VIEs 8,057 141,608 128,984 25,590 35,998 340,237 |
Bank | |
Securitizations | Securitizations in 6M20 6M19 Gains/(losses) and cash flows (CHF million) CMBS Net gain/(loss) 1 30 (1) Proceeds from transfer of assets 4,862 3,632 Cash received on interests that continue to be held 21 19 RMBS Net gain/(loss) 1 22 (4) Proceeds from transfer of assets 11,373 8,045 Purchases of previously transferred financial assets or its underlying collateral 0 (1) Servicing fees 1 1 Cash received on interests that continue to be held 457 116 Other asset-backed financings Net gain 1 61 48 Proceeds from transfer of assets 4,766 4,801 Purchases of previously transferred financial assets or its underlying collateral (638) (389) Fees 2 72 74 Cash received on interests that continue to be held 11 3 1 Includes underwriting revenues, deferred origination fees, gains or losses on the sale of collateral to the SPE and gains or losses on the sale of newly issued securities to third parties, but excludes net interest income on assets prior to the securitization. The gains or losses on the sale of the collateral is the difference between the fair value on the day prior to the securitization pricing date and the sale price of the loans. 2 Represents management fees and performance fees earned for investment management services provided to managed CLOs. |
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 6M20 2019 CHF million CMBS Principal amount outstanding 20,184 21,079 Total assets of SPE 26,731 28,748 RMBS Principal amount outstanding 55,801 54,001 Total assets of SPE 57,228 55,595 Other asset-backed financings Principal amount outstanding 25,905 27,982 Total assets of SPE 50,594 54,974 Principal amount outstanding relates to assets transferred from the Bank and does not include principle amounts for assets transferred from third parties. |
Key economic assumptions used in measuring fair value of beneficial interests at time of transfer | Key economic assumptions used in measuring fair value of beneficial interests at time of transfer 6M20 6M19 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 172 1,646 281 885 of which level 2 158 1,465 264 826 of which level 3 14 181 17 59 Weighted-average life, in years 8.1 3.6 4.1 4.7 Prepayment speed assumption (rate per annum), in % 1 – 2 1.0 – 38.2 – 2 2.0 – 37.3 Cash flow discount rate (rate per annum), in % 3 1.4 – 9.2 0.7 – 24.7 2.5 – 8.3 2.3 – 11.6 Expected credit losses (rate per annum), in % 4 4.0 – 8.6 3.3 – 22.9 1.3 – 5.8 1.7 – 3.4 Transfers of assets in which the Bank does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate was based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Key economic assumptions used in measuring fair value of beneficial interests held in SPEs | Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 6M20 2019 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 330 2,494 662 399 2,282 751 of which non-investment grade 40 860 19 46 711 15 Weighted-average life, in years 6.5 3.6 2.2 6.4 5.7 1.6 Prepayment speed assumption (rate per annum), in % 3 – 1.0 – 46.4 – – 3.0 – 35.7 – Impact on fair value from 10% adverse change – (52.7) – – (38.1) – Impact on fair value from 20% adverse change – (99.9) – – (72.6) – Cash flow discount rate (rate per annum), in % 4 1.3 – 22.4 0.6 – 42.0 1.1 – 25.4 2.2 – 15.2 1.5 – 36.2 0.7 – 13.1 Impact on fair value from 10% adverse change (4.7) (32.5) (3.2) (6.8) (38.3) (2.1) Impact on fair value from 20% adverse change (9.3) (62.3) (6.3) (13.4) (74.7) (4.2) Expected credit losses (rate per annum), in % 5 1.4 – 10.9 0.2 – 29.7 1.1 – 25.4 0.5 – 8.5 1.1 – 34.5 0.7 – 12.8 Impact on fair value from 10% adverse change (4.1) (30.2) (3.2) (4.1) (24.1) (2.0) Impact on fair value from 20% adverse change (8.0) (58.0) (6.3) (8.1) (47.3) (4.0) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate was based on the weighted-average yield on the beneficial interests. 5 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved | Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 6M20 2019 CHF million Other asset-backed financings Trading assets 562 279 Other assets 184 0 Liability to SPE, included in other liabilities (746) (279) |
Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 6M20 2019 CHF billion Government debt securities 1 21.0 16.5 Corporate debt securities 1 8.1 8.6 Asset-backed securities 5.5 2.5 Equity securities 0.8 0.7 Other 1.2 0.2 Securities sold under repurchase agreements 36.6 28.5 Government debt securities 0.9 0.1 Corporate debt securities 0.1 0.1 Equity securities 5.2 5.4 Other 0.1 0.1 Securities lending transactions 6.3 5.7 Government debt securities 5.4 5.3 Corporate debt securities 4.1 1.8 Asset-backed securities 0.1 0.1 Equity securities 32.9 33.0 Obligation to return securities received as collateral, at fair value 42.5 40.2 Total 85.4 74.4 1 Prior period has been corrected. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities 1 Up to 2 31-90 More than 6M20 (CHF billion) Securities sold under repurchase agreements 5.6 20.2 4.3 6.5 36.6 Securities lending transactions 5.5 0.5 0.2 0.1 6.3 Obligation to return securities received as collateral, at fair value 41.9 0.3 0.2 0.1 42.5 Total 53.0 21.0 4.7 6.7 85.4 2019 (CHF billion) Securities sold under repurchase agreements 5.2 15.2 5.9 2.2 28.5 Securities lending transactions 5.7 0.0 0.0 0.0 5.7 Obligation to return securities received as collateral, at fair value 40.0 0.1 0.1 0.0 40.2 Total 50.9 15.3 6.0 2.2 74.4 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. |
Consolidated VIEs in which the Group was primary beneficiary | Consolidated VIEs in which the Bank was the primary beneficiary Financial intermediation CDO/ CP Securi- 6M20 (CHF million) Cash and due from banks 0 4 35 10 37 10 96 Trading assets 0 0 1,397 48 962 16 2,423 Other investments 0 0 0 163 1,066 242 1,471 Net loans 0 505 54 45 33 206 843 Other assets 0 21 1,011 4 98 863 1,997 of which loans held-for-sale 0 0 429 0 0 0 429 of which premises and equipment 0 0 0 0 14 11 25 Total assets of consolidated VIEs 0 530 2,497 270 2,196 1,337 6,830 Trading liabilities 0 0 0 0 11 0 11 Short-term borrowings 0 4,515 0 0 0 0 4,515 Long-term debt 0 0 1,759 0 11 33 1,803 Other liabilities 0 57 2 4 86 102 251 Total liabilities of consolidated VIEs 0 4,572 1,761 4 108 135 6,580 2019 (CHF million) Cash and due from banks 6 1 71 11 39 10 138 Trading assets 75 0 1,554 82 1,063 14 2,788 Other investments 0 0 0 113 1,052 247 1,412 Net loans 0 325 53 1 29 241 649 Other assets 1 21 638 4 67 943 1,674 of which loans held-for-sale 0 0 93 0 0 0 93 of which premises and equipment 0 0 0 0 17 8 25 Total assets of consolidated VIEs 82 347 2,316 211 2,250 1,455 6,661 Trading liabilities 0 0 0 0 8 0 8 Short-term borrowings 0 4,885 0 0 0 0 4,885 Long-term debt 7 0 1,614 1 13 36 1,671 Other liabilities 0 54 1 4 91 146 296 Total liabilities of consolidated VIEs 7 4,939 1,615 5 112 182 6,860 |
Non-consolidated VIEs | Non-consolidated VIEs Financial intermediation CDO/ Securi- 6M20 (CHF million) Trading assets 198 5,176 934 81 7,513 13,902 Net loans 485 797 2,022 7,712 1,031 12,047 Other assets 14 79 121 0 543 757 Total variable interest assets 697 6,052 3,077 7,793 9,087 26,706 Maximum exposure to loss 764 7,636 3,077 11,675 9,559 32,711 Total assets of non-consolidated VIEs 7,498 165,338 119,389 28,657 26,137 347,019 2019 (CHF million) Trading assets 230 4,897 962 109 4,311 10,509 Net loans 456 904 1,945 7,930 709 11,944 Other assets 3 26 513 0 380 922 Total variable interest assets 689 5,827 3,420 8,039 5,400 23,375 Maximum exposure to loss 785 7,664 3,425 12,239 5,937 30,050 Total assets of non-consolidated VIEs 8,057 141,608 127,558 25,590 14,274 317,087 |
Financial instruments (Tables)
Financial instruments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Assets and liabilities measured at fair value on a recurring basis | Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 368 0 – – 368 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 78,448 0 – – 78,448 Securities received as collateral 36,103 6,206 170 – – 42,479 Trading assets 78,170 190,495 8,797 (121,242) 510 156,730 of which debt securities 16,139 51,625 3,198 – – 70,962 of which foreign governments 15,775 11,180 163 – – 27,118 of which corporates 41 9,431 1,642 – – 11,114 of which RMBS 0 28,377 1,102 – – 29,479 of which equity securities 52,379 2,201 142 – 510 55,232 of which derivatives 7,353 135,622 4,101 (121,242) – 25,834 of which interest rate products 2,940 83,790 639 – – – of which foreign exchange products 180 24,676 138 – – – of which equity/index-related products 4,220 21,252 1,067 – – – of which credit derivatives 0 4,928 1,172 – – – of which other derivatives 5 142 1,085 – – – of which other trading assets 2,299 1,047 1,356 – – 4,702 Investment securities 2 487 0 – – 489 Other investments 16 7 2,839 – 871 3,733 of which other equity investments 16 6 1,765 – 514 2,301 of which life finance instruments 0 1 1,066 – – 1,067 Loans 0 9,718 3,513 – – 13,231 of which commercial and industrial loans 0 3,624 1,473 – – 5,097 of which financial institutions 0 3,803 1,100 – – 4,903 of which government and public institutions 0 1,980 447 – – 2,427 Other intangible assets (mortgage servicing rights) 0 0 209 – – 209 Other assets 127 7,575 2,581 (962) – 9,321 of which loans held-for-sale 0 4,421 2,304 – – 6,725 Total assets at fair value 114,418 293,304 18,109 (122,204) 1,381 305,008 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 484 0 – – 484 Customer deposits 0 3,170 433 – – 3,603 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 17,379 0 – – 17,379 Obligation to return securities received as collateral 36,103 6,206 170 – – 42,479 Trading liabilities 31,233 138,714 3,727 (129,640) 6 44,040 of which debt securities 2,906 4,700 0 – – 7,606 of which foreign governments 3,395 415 0 – – 3,810 of which equity securities 20,717 207 70 – 6 21,000 of which derivatives 7,610 133,807 3,657 (129,640) – 15,434 of which interest rate products 2,886 81,916 211 – – – of which foreign exchange products 175 27,592 92 – – – of which equity/index-related products 4,531 18,117 1,401 – – – of which credit derivatives 0 5,191 1,558 – – – Short-term borrowings 0 11,599 480 – – 12,079 Long-term debt 0 60,307 8,491 – – 68,798 of which structured notes over one year and up to two years 0 11,783 756 – – 12,539 of which structured notes over two years 0 28,148 6,546 – – 34,694 of which high-trigger instruments 0 7,914 0 – – 7,914 of which non-recourse liabilities 0 1,148 655 – – 1,803 Other liabilities 3 6,301 1,201 (121) – 7,384 Total liabilities at fair value 67,339 244,160 14,502 (129,761) 6 196,246 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 356 0 – – 356 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 85,556 0 – – 85,556 Securities received as collateral 36,438 3,780 1 – – 40,219 Trading assets 85,559 157,151 7,885 (97,606) 808 153,797 of which debt securities 19,430 45,641 1,923 – – 66,994 of which foreign governments 19,281 7,484 198 – – 26,963 of which corporates 16 10,905 1,128 – – 12,049 of which RMBS 0 23,199 317 – – 23,516 of which equity securities 60,675 2,862 197 – 808 64,542 of which derivatives 3,539 108,264 3,534 (97,606) – 17,731 of which interest rate products 1,091 66,764 554 – – – of which foreign exchange products 23 21,754 152 – – – of which equity/index-related products 2,417 13,918 1,040 – – – of which credit derivatives 0 5,336 879 – – – of which other derivatives 5 66 909 – – – of which other trading assets 1,915 384 2,231 – – 4,530 Investment securities 2 1,004 0 – – 1,006 Other investments 24 5 2,523 – 998 3,550 of which other equity investments 24 5 1,463 – 589 2,081 of which life finance instruments 0 0 1,052 – – 1,052 Loans 0 8,945 3,717 – – 12,662 of which commercial and industrial loans 0 2,491 1,283 – – 3,774 of which financial institutions 0 3,730 1,201 – – 4,931 of which government and public institutions 0 2,200 831 – 3,031 Other intangible assets (mortgage servicing rights) 0 0 244 – – 244 Other assets 101 8,902 1,846 (447) – 10,402 of which loans held-for-sale 0 6,594 1,619 – – 8,213 Total assets at fair value 122,124 265,699 16,216 (98,053) 1,806 307,792 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 322 0 – – 322 Customer deposits 0 2,865 474 – – 3,339 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 10,715 0 – – 10,715 Obligation to return securities received as collateral 36,438 3,780 1 – – 40,219 Trading liabilities 23,010 115,062 3,854 (103,742) 2 38,186 of which debt securities 3,636 5,286 0 – – 8,922 of which foreign governments 3,544 345 0 – – 3,889 of which equity securities 15,628 109 53 – 2 15,792 of which derivatives 3,746 109,667 3,801 (103,742) – 13,472 of which interest rate products 1,101 64,643 167 – – – of which foreign exchange products 31 26,156 98 – – – of which equity/index-related products 2,603 12,518 1,921 – – – of which credit derivatives 0 5,963 1,211 – – – Short-term borrowings 0 10,336 997 – – 11,333 Long-term debt 0 57,721 12,610 – – 70,331 of which structured notes over one year and up to two years 0 9,291 891 – – 10,182 of which structured notes over two years 0 27,626 11,458 – – 39,084 of which high-trigger instruments 0 7,589 5 7,594 of which other subordinated bonds 0 5,502 0 – – 5,502 Other liabilities 0 6,654 1,385 (148) – 7,891 Total liabilities at fair value 59,448 207,455 19,321 (103,890) 2 182,336 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 1 0 0 173 (1) 0 0 0 0 0 0 0 0 (3) 170 0 Trading assets 7,885 2,489 (1,502) 4,272 (4,657) 1,290 (1,625) 169 796 (1) 0 0 0 (319) 8,797 1,076 of which debt securities 1,923 1,654 (708) 2,527 (2,000) 0 0 59 (122) 0 0 0 0 (135) 3,198 (19) of which foreign governments 198 32 (2) 33 (49) 0 0 1 (5) 0 0 0 0 (45) 163 (5) of which corporates 1,128 559 (564) 1,718 (1,230) 0 0 67 42 0 0 0 0 (78) 1,642 96 of which RMBS 317 902 (70) 557 (525) 0 0 (4) (70) 0 0 0 0 (5) 1,102 (55) of which equity securities 197 16 (21) 38 (18) 0 0 0 (67) 0 0 0 0 (3) 142 85 of which derivatives 3,534 719 (629) 0 0 1,290 (1,606) 111 834 (1) 0 0 0 (151) 4,101 999 of which interest rate products 554 99 (69) 0 0 81 (49) (22) 71 (1) 0 0 0 (25) 639 108 of which foreign exchange derivatives 152 21 (15) 0 0 9 (24) (2) 0 0 0 0 0 (3) 138 (5) of which equity/index-related products 1,040 220 (240) 0 0 345 (597) 35 345 0 0 0 0 (81) 1,067 361 of which credit derivatives 879 379 (305) 0 0 700 (771) 100 211 0 0 0 0 (21) 1,172 325 of which other derivatives 909 0 0 0 0 155 (165) 0 207 0 0 0 0 (21) 1,085 210 of which other trading assets 2,231 100 (144) 1,707 (2,639) 0 (19) (1) 151 0 0 0 0 (30) 1,356 11 Other investments 2,523 2 0 371 (107) 0 0 0 95 0 (19) 0 0 (26) 2,839 38 of which other equity investments 1,463 1 0 354 (19) 0 0 0 (11) 0 (18) 0 0 (5) 1,765 (35) of which life finance instruments 1,052 0 0 17 (88) 0 0 0 106 0 0 0 0 (21) 1,066 74 Loans 2 3,835 641 (375) 90 (479) 742 (569) 38 (336) 0 0 0 0 (74) 3,513 (296) of which commercial and industrial loans 2 1,401 390 (137) 45 (282) 447 (173) 3 (194) 0 0 0 0 (27) 1,473 (205) of which financial institutions 1,201 44 (94) 0 (32) 275 (211) 13 (70) 0 0 0 0 (26) 1,100 (77) of which government and public institutions 831 15 (144) 0 (163) 3 (56) 22 (47) 0 0 0 0 (14) 447 (8) Other intangible assets (mortgage servicing rights) 244 0 0 0 0 0 0 0 0 0 (31) 0 0 (4) 209 (31) Other assets 1,846 1,432 (383) 2,400 (2,260) 282 (543) 16 (60) 0 0 0 0 (149) 2,581 (6) of which loans held-for-sale 1,619 1,409 (339) 2,373 (2,259) 282 (543) (8) (87) 0 0 0 0 (143) 2,304 (87) Total assets at fair value 16,334 4,564 (2,260) 7,306 (7,504) 2,314 (2,737) 223 495 (1) (50) 0 0 (575) 18,109 781 Liabilities (CHF million) Customer deposits 474 0 0 0 0 0 (27) 0 35 0 0 0 (22) (27) 433 9 Obligation to return securities received as collateral 1 0 0 173 (1) 0 0 0 0 0 0 0 0 (3) 170 0 Trading liabilities 3,854 513 (904) 210 (195) 1,602 (1,276) 184 (151) (5) 0 0 0 (105) 3,727 577 of which equity securities 53 16 0 207 (189) 0 0 0 (15) 0 0 0 0 (2) 70 0 of which derivatives 3,801 497 (904) 0 (3) 1,602 (1,276) 184 (136) (5) 0 0 0 (103) 3,657 575 of which interest rate derivatives 167 37 (37) 0 0 16 (25) (1) 64 (5) 0 0 0 (5) 211 84 of which foreign exchange derivatives 98 2 (1) 0 0 10 (56) 0 42 0 0 0 0 (3) 92 47 of which equity/index-related derivatives 1,921 126 (493) 0 0 585 (486) 69 (262) 0 0 0 0 (59) 1,401 274 of which credit derivatives 1,211 333 (373) 0 0 896 (574) 117 (21) 0 0 0 0 (31) 1,558 135 Short-term borrowings 997 52 (200) 0 0 470 (706) (2) (118) 0 0 0 0 (13) 480 (40) Long-term debt 12,610 1,843 (5,514) 0 0 4,294 (3,614) 461 (1,241) 0 0 87 (166) (269) 8,491 (110) of which structured notes over one year and up to two years 891 186 (423) 0 0 632 (435) 28 (111) 0 0 1 5 (18) 756 (30) of which structured notes over two years 11,458 707 (5,077) 0 0 3,631 (3,140) 433 (1,138) 0 0 87 (170) (245) 6,546 (89) of which high-trigger instruments 5 0 0 0 0 0 (5) 0 0 0 0 0 0 0 0 0 Other liabilities 1,385 168 (112) 195 (227) 64 (289) (27) (15) 0 86 0 0 (27) 1,201 43 Total liabilities at fair value 19,321 2,576 (6,730) 578 (423) 6,430 (5,912) 616 (1,490) (5) 86 87 (188) (444) 14,502 479 Net assets/(liabilities) at fair value (2,987) 1,988 4,470 6,728 (7,081) (4,116) 3,175 (393) 1,985 4 (136) (87) 188 (131) 3,607 302 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M20, changes in net unrealized gains/(losses) of CHF 289 million and CHF (36) (49) 2 Includes an adjustment of CHF 118 million reflecting the impact of applying the fair value option on certain loans (previously held at amortized cost) at the adoption of the ASU 2019-05. Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 0 Trading assets 8,980 705 (1,697) 8,831 (9,435) 556 (838) (75) 721 0 0 0 0 (96) 7,652 710 of which debt securities 2,242 484 (874) 1,597 (1,777) 0 0 16 50 0 0 0 0 (27) 1,711 163 of which foreign governments 232 0 (43) 68 (56) 0 0 3 3 0 0 0 0 (1) 206 1 of which corporates 1,260 384 (568) 1,055 (1,234) 0 0 16 6 0 0 0 0 (18) 901 158 of which RMBS 432 52 (216) 421 (379) 0 0 (1) 41 0 0 0 0 (5) 345 0 of which equity securities 132 39 (37) 57 (38) 0 0 0 4 0 0 0 0 (2) 155 (1) of which derivatives 3,298 140 (417) 0 0 556 (818) (88) 405 0 0 0 0 (42) 3,034 507 of which interest rate products 507 23 (9) 0 0 52 (42) 2 (6) 0 0 0 0 (15) 512 (31) of which foreign exchange derivatives 258 11 (10) 0 0 8 (9) 0 (30) 0 0 0 0 (3) 225 (17) of which equity/index-related products 1,054 48 (333) 0 0 199 (259) (84) 133 0 0 0 0 (6) 752 289 of which credit derivatives 673 58 (65) 0 0 150 (360) (7) 211 0 0 0 0 (7) 653 140 of which other derivatives 806 0 0 0 0 147 (148) 1 97 0 0 0 0 (11) 892 126 of which other trading assets 3,308 42 (369) 7,177 (7,620) 0 (20) (3) 262 0 0 0 0 (25) 2,752 41 Other investments 1,309 48 (5) 33 (110) 0 0 0 100 0 6 0 0 (12) 1,369 207 of which life finance instruments 1,067 0 0 20 (88) 0 0 0 96 0 0 0 0 (10) 1,085 98 Loans 4,324 296 (320) 19 (190) 769 (726) 8 20 0 0 0 0 (37) 4,163 30 of which commercial and industrial loans 1,949 81 (184) 19 (118) 76 (198) 5 1 0 0 0 0 (13) 1,618 21 of which financial institutions 1,391 215 0 0 (71) 185 (503) (1) 15 0 0 0 0 (4) 1,227 14 of which government and public institutions 446 0 (58) 0 (1) 248 (14) 3 (9) 0 0 0 0 (10) 605 (15) of which real estate 515 0 (78) 0 0 260 (11) 1 10 0 0 0 0 (10) 687 10 Other intangible assets (mortgage servicing rights) 163 0 0 9 0 0 0 0 0 0 (7) 0 0 (3) 162 (7) Other assets 1,543 102 (178) 938 (808) 290 (178) 0 24 0 0 0 0 (15) 1,718 0 of which loans held-for-sale 1,235 96 (125) 903 (805) 290 (178) 1 45 0 0 0 0 (13) 1,449 10 Total assets at fair value 16,349 1,151 (2,200) 9,830 (10,569) 1,615 (1,742) (67) 865 0 (1) 0 0 (163) 15,068 940 Liabilities (CHF million) Customer deposits 453 0 0 0 0 0 0 0 31 0 0 0 32 (21) 495 31 Obligation to return securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 0 Trading liabilities 3,589 195 (405) 388 (402) 1,091 (1,483) 81 400 0 0 0 0 (35) 3,419 594 of which debt securities 25 9 (8) 12 (32) 0 0 0 0 0 0 0 0 0 6 0 of which equity securities 37 9 0 376 (368) 0 0 0 (1) 0 0 0 0 0 53 0 of which derivatives 3,527 177 (397) 0 (2) 1,091 (1,483) 81 401 0 0 0 0 (35) 3,360 594 of which interest rate derivatives 189 5 (2) 0 0 21 (17) 0 23 0 0 0 0 (3) 216 28 of which foreign exchange derivatives 160 14 (10) 0 0 2 (24) (1) (9) 0 0 0 0 1 133 (12) of which equity/index-related derivatives 1,500 77 (303) 0 0 380 (504) 78 239 0 0 0 0 (18) 1,449 539 of which credit derivatives 1,140 81 (81) 0 0 551 (782) 4 195 0 0 0 0 (11) 1,097 54 Short-term borrowings 784 122 (178) 0 0 789 (686) 6 175 0 0 0 0 (15) 997 44 Long-term debt 12,665 2,104 2 (2,607) 0 0 2,730 2 (2,387) 2 101 1,082 2 0 0 4 164 2 (167) 13,689 1,085 of which structured notes over one year and up to two years 528 315 (228) 0 0 544 (345) 11 58 0 0 0 9 (12) 880 37 of which structured notes over two years 11,800 1,774 (2,123) 0 0 1,974 (2,007) 77 1,006 0 0 4 156 (150) 12,511 1,050 of which high-trigger instruments 6 0 0 0 0 (2) 0 0 0 0 0 0 0 0 4 0 Other liabilities 1,341 37 (77) 35 (57) 75 (285) (6) 32 0 163 0 0 (11) 1,247 2 Total liabilities at fair value 2 18,862 2,458 (3,267) 423 (485) 4,685 (4,841) 182 1,720 0 163 4 196 (249) 19,851 1,756 Net assets/(liabilities) at fair value 2 (2,513) (1,307) 1,067 9,407 (10,084) (3,070) 3,099 (249) (855) 0 (164) (4) (196) 2 86 (4,783) (816) 2 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues. As of 6M19, changes in net unrealized gains/(losses) of CHF (925) 2 Prior period has been corrected. |
Quantitative information about level 3 assets and liabilities at fair value | Quantitative information about level 3 assets at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 170 – – – – – Trading assets 8,797 of which debt securities 3,198 of which foreign governments 163 Discounted cash flow Credit spread, in bp 76 76 76 of which corporates 1,642 of which 509 Discounted cash flow Credit spread, in bp (7) 1,558 606 of which 302 Market comparable Price, in % 0 207 104 of which 622 Option model Correlation, in % (50) 93 42 Gap risk, in % 0 2 0 Recovery rate, in % 40 40 40 Volatility, in % 0 213 27 of which 54 Vendor price Price, in actuals 0 1,373 1 of which RMBS 1,102 Discounted cash flow Default rate, in % 0 14 2 Discount rate, in % 1 40 7 Loss severity, in % 0 100 32 Prepayment rate, in % 0 35 9 of which equity securities 142 Vendor price Price, in actuals 0 35,399 327 of which derivatives 4,101 of which interest rate products 639 Option model Correlation, in % (1) 100 73 Prepayment rate, in % 1 27 9 Volatility, in % (30) 25 (2) Volatility skew, in % (3) 0 (2) of which foreign exchange products 138 Option model Correlation, in % 5 70 29 Prepayment rate, in % 23 27 25 of which equity/index-related products 1,067 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 93 55 Gap risk, in % 2 0 2 0 Volatility, in % (85) 213 16 of which credit derivatives 1,172 of which 1,026 Discounted cash flow Correlation, in % 97 97 97 Credit curve volatity, in % 60 103 89 Credit spread, in bp 0 3,286 994 Default rate, in % 1 5 3 Discount rate, in % 3 30 20 Funding spread, in bp 100 156 147 Loss severity, in % 10 95 58 Prepayment rate, in % 2 20 5 Recovery rate, in % 0 40 19 of which 95 Market comparable Price, in % 91 113 107 of which other derivatives 1,085 Discounted cash flow Market implied life expectancy, in years 2 15 6 Mortality rate, in % 71 134 97 of which other trading assets 1,356 of which 881 Discounted cash flow Market implied life expectancy, in years 3 14 8 of which 253 Market comparable Price, in % 0 106 24 of which 204 Option model Mortality rate, in % 0 70 6 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 2,839 of which other equity investments 1,765 of which 702 Discounted cash flow Discount rate, in % 9 9 9 Terminal growth rate, in % 3 3 3 of which 146 Market comparable Price, in % 100 100 100 of which 857 Vendor price Price, in actuals 1 912 282 of which life finance instruments 1,066 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 3,513 of which commercial and industrial loans 1,473 of which 912 Discounted cash flow Credit spread, in bp 99 2,243 944 Recovery rate, in % 25 40 29 of which 437 Market comparable Price, in % 10 100 66 of which financial institutions 1,100 of which 923 Discounted cash flow Credit spread, in bp 151 2,011 692 Recovery rate, in % 25 40 26 of which 167 Market comparable Price, in % 12 100 41 of which government and public institutions 447 of which 277 Discounted cash flow Credit spread, in bp 625 866 712 Recovery rate, in % 25 25 25 of which 157 Market comparable Price, in % 62 62 62 Other intangible assets (mortgage servicing rights) 209 – – – – – Other assets 2,581 of which loans held-for-sale 2,304 of which 323 Discounted cash flow Credit spread, in bp 117 651 385 Recovery rate, in % 0 40 24 of which 1,945 Market comparable Price, in % 0 130 88 Total level 3 assets at fair value 18,109 1 Weighted average is calculated based on the fair value of the instruments. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 1 – – – – – Trading assets 7,885 of which debt securities 1,923 of which foreign governments 198 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 1,128 of which 503 Market comparable Price, in % 0 129 97 of which 913 Option model Correlation, in % (60) 100 63 Gap risk, in % 0 2 0 Volatility, in % 0 275 27 of which RMBS 317 Discounted cash flow Default rate, in % 0 12 2 Discount rate, in % 1 36 13 Loss severity, in % 0 100 45 Prepayment rate, in % 2 45 10 of which equity securities 197 Vendor price Price, in actuals 0 36,760 383 of which derivatives 3,534 of which interest rate products 554 Option model Correlation, in % 0 100 69 Prepayment rate, in % 1 28 10 Volatility skew, in % (4) 6 (1) of which foreign exchange products 152 Option model Correlation, in % 5 70 30 Prepayment rate, in % 23 28 25 of which equity/index-related products 1,040 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 100 64 Gap risk, in % 2 0 2 0 Volatility, in % 0 275 30 of which credit derivatives 879 of which 691 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 2 1,033 150 Default rate, in % 1 20 4 Discount rate, in % 8 27 16 Funding spread, in bp 100 115 102 Loss severity, in % 29 85 69 Prepayment rate, in % 0 7 4 Recovery rate, in % 0 40 26 of which 142 Market comparable Price, in % 86 110 98 of which other derivatives 909 Discounted cash flow Market implied life expectancy, in years 2 15 6 Mortality rate, in % 71 134 97 of which other trading assets 2,231 of which 856 Discounted cash flow Market implied life expectancy, in years 2 15 7 of which 1,118 Market comparable Price, in % 0 112 27 of which 233 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 2,523 of which other equity investments 1,463 of which 398 Discounted cash flow Discount rate, in % 9 9 9 Terminal growth rate, in % 3 3 3 of which 147 Market comparable Price, in % 100 100 100 of which 857 Vendor price Price, in actuals 1 869 231 of which life finance instruments 1,052 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 3,717 of which commercial and industrial loans 1,283 of which 996 Discounted cash flow Credit spread, in bp 96 1,484 654 Recovery rate, in % 25 25 25 of which 273 Market comparable Price, in % 0 99 64 of which financial institutions 1,201 of which 984 Discounted cash flow Credit spread, in bp 111 1,261 412 Recovery rate, in % 25 25 25 of which 135 Market comparable Price, in % 16 100 36 of which government and public institutions 831 of which 468 Discounted cash flow Credit spread, in bp 457 526 500 Recovery rate, in % 25 40 30 of which 166 Market comparable Price, in % 62 62 62 Other intangible assets (mortgage servicing rights) 244 – – – – – Other assets 1,846 of which loans held-for-sale 1,619 of which 501 Discounted cash flow Credit spread, in bp 117 381 243 Recovery rate, in % 0 1 1 of which 1,026 Market comparable Price, in % 0 180 91 Total level 3 assets at fair value 16,216 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 liabilities at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 433 Option model Correlation, in % (6) 100 78 Credit spread, in bp 81 145 140 Mean reversion, in % 2 10 10 10 Obligation to return securities received as collateral 170 – – – – – Trading liabilities 3,727 of which equity securities 70 Vendor price Price, in actuals 0 323 1 of which derivatives 3,657 of which interest rate derivatives 211 Option model Correlation, in % (1) 100 65 Prepayment rate, in % 1 27 6 of which foreign exchange derivatives 92 of which 9 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 190 190 190 of which 54 Option model Correlation, in % 35 70 53 Prepayment rate, in % 23 27 25 of which equity/index-related derivatives 1,401 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 93 49 Volatility, in % (85) 213 24 of which credit derivatives 1,558 of which 922 Discounted cash flow Correlation, in % 38 45 41 Credit curve volatility, in % 62 102 78 Credit spread, in bp 1 5,394 475 Default rate, in % 0 5 2 Discount rate, in % 8 30 20 Funding spread, in bp 100 174 132 Loss severity, in % 0 95 59 Prepayment rate, in % 0 7 5 Recovery rate, in % 2 40 24 of which 586 Market comparable Price, in % 89 113 99 of which 16 Option model Correlation, in % 49 57 53 Credit spread, in bp 29 3,232 430 1 Weighted average is calculated based on the fair value of the instruments. 2 Management's best estimate of the speed at which interest rates will revert to the long-term average. 3 Estimate of probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Short-term borrowings 480 of which 68 Discounted cash flow Credit spread, in bp (28) 1,317 1,160 Recovery rate, in % 35 40 40 of which 304 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 93 51 Fund gap risk, in % 2 0 2 0 Volatility, in % 0 213 27 Long-term debt 8,491 of which structured notes over one year and up to two years 756 of which 42 Discounted cash flow Credit spread, in bp 0 141 61 Recovery rate, in % 25 25 25 of which 574 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 93 49 Fund gap risk, in % 2 0 2 0 Volatility, in % 0 213 19 of which structured notes over two years 6,546 of which 1,601 Discounted cash flow Credit spread, in bp (28) 562 110 Recovery rate, in % 5 49 33 of which 13 Market comparable Price, in % 32 32 32 of which 4,802 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 93 45 Gap risk, in % 2 0 2 0 Mean reversion, in % 4 (10) 0 (6) Volatility, in % 0 213 23 of which high-trigger instruments 0 – – – – – of which non-recourse liabilities 655 Market comparable Price, in % 0 99 51 Other liabilities 1,201 – – – – – Total level 3 liabilities at fair value 14,502 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 3 Estimate of probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 474 Option model Correlation, in % 0 100 77 Credit spread, in bp 46 79 71 Mean reversion, in % 2 10 10 10 Obligation to return securities received as collateral 1 – – – – – Trading liabilities 3,854 of which equity securities 53 Vendor price Price, in actuals 0 66 2 of which derivatives 3,801 of which interest rate derivatives 167 Option model Correlation, in % 0 100 47 Prepayment rate, in % 1 28 7 of which foreign exchange derivatives 98 of which 37 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 47 147 71 of which 12 Market comparable Price, in % 100 100 100 of which 47 Option model Correlation, in % 35 70 53 Prepayment rate, in % 23 28 25 of which equity/index-related derivatives 1,921 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (60) 100 66 Volatility, in % 0 275 26 of which credit derivatives 1,211 of which 745 Discounted cash flow Correlation, in % 38 45 44 Credit spread, in bp 2 1,041 142 Default rate, in % 1 20 4 Discount rate, in % 8 27 15 Funding spread, in bp 100 154 122 Loss severity, in % 29 85 69 Prepayment rate, in % 0 8 5 Recovery rate, in % 0 40 31 of which 412 Market comparable Price, in % 89 110 99 of which 23 Option model Correlation, in % 49 50 49 Credit spread, in bp 17 1,225 270 Short-term borrowings 997 of which 56 Discounted cash flow Credit spread, in bp (40) 937 138 Recovery rate, in % 40 40 40 of which 847 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 100 62 Fund gap risk, in % 4 0 2 0 Volatility, in % 1 275 39 Long-term debt 12,610 of which structured notes over one year and up to two years 891 of which 78 Discounted cash flow Credit spread, in bp (15) 3,206 246 Recovery rate, in % 25 25 25 of which 813 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 100 64 Fund gap risk, in % 4 0 2 0 Volatility, in % 1 275 36 of which structured notes over two years 11,458 of which 1,141 Discounted cash flow Credit spread, in bp (12) 1,260 40 Recovery rate, in % 25 40 29 of which 22 Market comparable Price, in % 43 46 43 of which 9,972 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (60) 100 63 Gap risk, in % 4 0 2 0 Mean reversion, in % 2 (55) 0 (7) Volatility, in % 0 275 26 of which high-trigger instruments 5 – – – – – Other liabilities 1,385 – – – – – Total level 3 liabilities at fair value 19,321 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Management's best estimate of the speed at which interest rates will revert to the long-term average. 3 Estimate of probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 4 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. |
Own credit gains/(losses) on fair value option elected instruments recorded in AOCI | Gains/(losses) attributable to changes in instrument-specific credit risk 1 Gains/(losses) recorded 1 in 2Q20 Cumulative 2Q19 2Q20 2Q19 Financial instruments (CHF million) Customer deposits (15) (44) (8) 0 0 Short-term borrowings (24) (78) 1 0 1 Long-term debt (3,150) (826) (358) 22 79 of which treasury debt over two years (1,632) 359 (278) 0 0 of which structured notes over two years (1,253) (1,159) (36) 22 79 Total (3,189) (948) (365) 22 80 1 Amounts are reflected gross of tax. |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | Difference between the aggregate fair value and unpaid principal balances of fair value option-elected financial instruments 2Q20 4Q19 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 78,448 78,323 125 85,556 85,463 93 Loans 13,231 14,326 (1,095) 12,662 13,104 (442) Other assets 1 8,398 10,999 (2,601) 9,710 12,006 (2,296) Due to banks and customer deposits (627) (542) (85) (582) (508) (74) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (17,379) (17,380) 1 (10,715) (10,719) 4 Short-term borrowings (12,079) (12,523) 444 (11,333) (11,187) (146) Long-term debt (68,798) (74,822) 6,024 (70,331) (72,126) 1,795 Other liabilities (659) (1,667) 1,008 (709) (1,681) 972 Non-performing and non-interest-earning loans 2 904 3,759 (2,855) 543 3,235 (2,692) 1 Primarily loans held-for-sale. 2 Included in loans or other assets. Gains and losses on financial instruments 6M20 6M19 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 1 1 15 1 of which related to credit risk (6) 6 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 789 1 1,495 1 Other investments 2 205 3 171 3 of which related to credit risk 1 1 Loans (247) 3 558 1 of which related to credit risk (575) 74 Other assets 416 3 460 3 of which related to credit risk (19) 111 Due to banks and customer deposits (39) 3 (36) 3 of which related to credit risk 0 0 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (82) 1 (389) 2 Short-term borrowings (16) 3 (559) 3 of which related to credit risk 1 1 Long-term debt 2 1,270 3 (6,058) 3 of which related to credit risk 14 3 Other liabilities (102) 3 76 4 of which related to credit risk (124) 39 1 Primarily recognized in net interest income. 2 Prior period has been corrected. 3 Primarily recognized in trading revenues. 4 Primarily recognized in other revenues. |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying value and fair value of financial instruments not carried at fair value Carrying end of Level 1 Level 2 Level 3 Total 2Q20 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 26,442 0 26,443 0 26,443 Investment securities 95 95 0 0 95 Loans 277,603 0 272,289 14,709 286,998 Other financial assets 1 147,847 131,752 15,468 651 147,871 Financial liabilities Due to banks and customer deposits 402,925 222,988 180,008 0 402,996 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 13,210 0 13,210 0 13,210 Short-term borrowings 15,308 0 15,319 0 15,319 Long-term debt 100,628 0 100,072 1,714 101,786 Other financial liabilities 2 14,462 0 14,117 313 14,430 4Q19 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 21,441 0 21,441 0 21,441 Loans 280,568 0 278,337 11,562 289,899 Other financial assets 1 114,543 101,600 12,225 720 114,545 Financial liabilities Due to banks and customer deposits 396,867 189,419 207,453 0 396,872 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 16,818 0 16,818 0 16,818 Short-term borrowings 17,052 0 17,052 0 17,052 Long-term debt 81,674 0 83,018 1,123 84,141 Other financial liabilities 2 15,867 0 15,705 168 15,873 1 Primarily includes cash and due from banks, interest-bearing deposits with banks, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities. 2 Primarily includes cash collateral on derivative instruments and interest and fee payables. |
Bank | |
Assets and liabilities measured at fair value on a recurring basis | Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 368 0 – – 368 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 78,448 0 – – 78,448 Securities received as collateral 36,103 6,206 170 – – 42,479 Trading assets 78,208 190,604 8,797 (121,242) 510 156,877 of which debt securities 16,139 51,735 3,198 – – 71,072 of which foreign government 15,775 11,180 163 – – 27,118 of which corporates 41 9,541 1,642 – – 11,224 of which RMBS 0 28,377 1,102 – – 29,479 of which equity securities 52,416 2,201 142 – 510 55,269 of which derivatives 7,353 135,622 4,101 (121,242) – 25,834 of which interest rate products 2,940 83,790 639 – – – of which foreign exchange products 180 24,676 138 – – – of which equity/index-related products 4,220 21,252 1,067 – – – of which credit derivatives 0 4,928 1,172 – – – of which other derivatives 5 142 1,085 – – – of which other trading assets 2,300 1,046 1,356 – – 4,702 Investment securities 0 487 0 – – 487 Other investments 16 7 2,839 – 869 3,731 of which other equity investments 16 6 1,765 – 514 2,301 of which life finance instruments 0 1 1,066 – – 1,067 Loans 0 9,718 3,513 – – 13,231 of which commercial and industrial loans 0 3,624 1,473 – – 5,097 of which financial institutions 0 3,803 1,100 – – 4,903 of which government and public institutions 0 1,980 447 – – 2,427 Other intangible assets (mortgage servicing rights) 0 0 209 – – 209 Other assets 127 7,575 2,581 (962) – 9,321 of which loans held-for-sale 0 4,421 2,304 – – 6,725 Total assets at fair value 114,454 293,413 18,109 (122,204) 1,379 305,151 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 484 0 – – 484 Customer deposits 0 3,170 433 – – 3,603 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 17,473 0 – – 17,473 Obligation to return securities received as collateral 36,103 6,206 170 – – 42,479 Trading liabilities 31,233 138,801 3,727 (129,727) 6 44,040 of which debt securities 2,906 4,700 0 – – 7,606 of which foreign government 3,395 415 0 – – 3,810 of which equity securities 20,717 207 70 – 6 21,000 of which derivatives 7,610 133,894 3,657 (129,727) – 15,434 of which interest rate products 2,886 82,003 211 – – – of which foreign exchange products 175 27,592 92 – – – of which equity/index-related products 4,531 18,117 1,401 – – – of which credit derivatives 0 5,191 1,558 – – – Short-term borrowings 0 11,599 480 – – 12,079 Long-term debt 0 59,454 8,505 – – 67,959 of which structured notes over one year and up to two years 0 11,783 756 – – 12,539 of which structured notes over two years 0 28,148 6,546 – – 34,694 of which high-trigger instruments 0 7,917 0 – – 7,917 of which other subordinated bonds 0 7,205 345 – – 7,550 of which non-recourse liabilities 0 1,148 655 – – 1,803 Other liabilities 3 6,298 1,185 (121) – 7,365 Total liabilities at fair value 67,339 243,485 14,500 (129,848) 6 195,482 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 356 0 – – 356 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 85,556 0 – – 85,556 Securities received as collateral 36,438 3,780 1 – – 40,219 Trading assets 85,622 157,186 7,885 (97,606) 808 153,895 of which debt securities 19,430 45,677 1,923 – – 67,030 of which foreign government 19,281 7,484 198 – – 26,963 of which corporates 16 10,941 1,128 – – 12,085 of which RMBS 0 23,199 317 – – 23,516 of which equity securities 60,737 2,862 197 – 808 64,604 of which derivatives 3,539 108,263 3,534 (97,606) – 17,730 of which interest rate products 1,091 66,763 554 – – – of which foreign exchange products 23 21,754 152 – – – of which equity/index-related products 2,417 13,918 1,040 – – – of which credit derivatives 0 5,336 879 – – – of which other derivatives 5 66 909 – – – of which other trading assets 1,916 384 2,231 – – 4,531 Investment securities 0 1,004 0 – – 1,004 Other investments 24 5 2,523 – 996 3,548 of which other equity investments 24 5 1,463 – 589 2,081 of which life finance instruments 0 0 1,052 – – 1,052 Loans 0 8,945 3,716 – – 12,661 of which commercial and industrial loans 0 2,491 1,283 – – 3,774 of which financial institutions 0 3,730 1,201 – – 4,931 of which government and public institutions 0 2,200 830 3,030 Other intangible assets (mortgage servicing rights) 0 0 244 – – 244 Other assets 101 8,902 1,846 (447) – 10,402 of which loans held-for-sale 0 6,594 1,619 – – 8,213 Total assets at fair value 122,185 265,734 16,215 (98,053) 1,804 307,885 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 322 0 – – 322 Customer deposits 0 2,865 474 – – 3,339 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 10,823 0 – – 10,823 Obligation to return securities received as collateral 36,438 3,780 1 – – 40,219 Trading liabilities 23,009 115,107 3,854 (103,786) 2 38,186 of which debt securities 3,636 5,286 0 – – 8,922 of which foreign government 3,544 345 0 – – 3,889 of which equity securities 15,628 109 53 – 2 15,792 of which derivatives 3,745 109,712 3,801 (103,786) – 13,472 of which interest rate products 1,101 64,687 167 – – – of which foreign exchange products 31 26,156 98 – – – of which equity/index-related products 2,603 12,518 1,921 – – – of which credit derivatives 0 5,963 1,211 – – – Short-term borrowings 0 10,336 997 – – 11,333 Long-term debt 0 56,657 12,749 – – 69,406 of which structured notes over one year and up to two years 0 9,291 891 – – 10,182 of which structured notes over two years 0 27,626 11,458 – – 39,084 of which high-trigger instruments 0 7,621 5 7,626 of which other subordinated bonds 0 7,438 140 – – 7,578 Other liabilities 0 6,650 1,367 (148) – 7,869 Total liabilities at fair value 59,447 206,540 19,442 (103,934) 2 181,497 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value |
Assets and liabilities measured at fair value on a recurring basis for level 3 | Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 1 0 0 173 (1) 0 0 0 0 0 0 0 0 (3) 170 0 Trading assets 7,885 2,489 (1,502) 4,272 (4,657) 1,290 (1,625) 169 796 (1) 0 0 0 (319) 8,797 1,076 of which debt securities 1,923 1,654 (708) 2,527 (2,000) 0 0 59 (122) 0 0 0 0 (135) 3,198 (19) of which foreign governments 198 32 (2) 33 (49) 0 0 1 (5) 0 0 0 0 (45) 163 (5) of which corporates 1,128 559 (564) 1,718 (1,230) 0 0 67 42 0 0 0 0 (78) 1,642 96 of which RMBS 317 902 (70) 557 (525) 0 0 (4) (70) 0 0 0 0 (5) 1,102 (55) of which equity securities 197 16 (21) 38 (18) 0 0 0 (67) 0 0 0 0 (3) 142 85 of which derivatives 3,534 719 (629) 0 0 1,290 (1,606) 111 834 (1) 0 0 0 (151) 4,101 999 of which interest rate products 554 99 (69) 0 0 81 (49) (22) 71 (1) 0 0 0 (25) 639 108 of which foreign exchange derivatives 152 21 (15) 0 0 9 (24) (2) 0 0 0 0 0 (3) 138 (5) of which equity/index-related products 1,040 220 (240) 0 0 345 (597) 35 345 0 0 0 0 (81) 1,067 361 of which credit derivatives 879 379 (305) 0 0 700 (771) 100 211 0 0 0 0 (21) 1,172 325 of which other derivatives 909 0 0 0 0 155 (165) 0 207 0 0 0 0 (21) 1,085 210 of which other trading assets 2,231 100 (144) 1,707 (2,639) 0 (19) (1) 151 0 0 0 0 (30) 1,356 11 Other investments 2,523 2 0 371 (107) 0 0 0 95 0 (19) 0 0 (26) 2,839 38 of which other equity investments 1,463 1 0 354 (19) 0 0 0 (11) 0 (18) 0 0 (5) 1,765 (35) of which life finance instruments 1,052 0 0 17 (88) 0 0 0 106 0 0 0 0 (21) 1,066 74 Loans 2 3,835 641 (375) 90 (479) 742 (569) 38 (336) 0 0 0 0 (74) 3,513 (296) of which commercial and industrial loans 2 1,402 390 (137) 45 (282) 447 (173) 3 (194) 0 0 0 0 (28) 1,473 (205) of which financial institutions 1,201 44 (94) 0 (32) 275 (211) 13 (70) 0 0 0 0 (26) 1,100 (77) of which government and public institutions 830 15 (144) 0 (163) 3 (56) 22 (47) 0 0 0 0 (13) 447 (8) Other intangible assets (mortgage servicing rights) 244 0 0 0 0 0 0 0 0 0 (31) 0 0 (4) 209 (31) Other assets 1,846 1,432 (383) 2,400 (2,260) 282 (543) 16 (60) 0 0 0 0 (149) 2,581 (6) of which loans held-for-sale 1,619 1,409 (339) 2,373 (2,259) 282 (543) (8) (87) 0 0 0 0 (143) 2,304 (87) Total assets at fair value 16,334 4,564 (2,260) 7,306 (7,504) 2,314 (2,737) 223 495 (1) (50) 0 0 (575) 18,109 781 Liabilities (CHF million) Customer deposits 474 0 0 0 0 0 (27) 0 35 0 0 0 (22) (27) 433 9 Obligation to return securities received as collateral 1 0 0 173 (1) 0 0 0 0 0 0 0 0 (3) 170 0 Trading liabilities 3,854 513 (904) 210 (195) 1,602 (1,276) 184 (151) (5) 0 0 0 (105) 3,727 577 of which equity securities 53 16 0 207 (189) 0 0 0 (15) 0 0 0 0 (2) 70 0 of which derivatives 3,801 497 (904) 0 (3) 1,602 (1,276) 184 (136) (5) 0 0 0 (103) 3,657 575 of which interest rate derivatives 167 37 (37) 0 0 16 (25) (1) 64 (5) 0 0 0 (5) 211 84 of which foreign exchange derivatives 98 2 (1) 0 0 10 (56) 0 42 0 0 0 0 (3) 92 47 of which equity/index-related derivatives 1,921 126 (493) 0 0 585 (486) 69 (262) 0 0 0 0 (59) 1,401 274 of which credit derivatives 1,211 333 (373) 0 0 896 (574) 117 (21) 0 0 0 0 (31) 1,558 135 Short-term borrowings 997 52 (200) 0 0 470 (706) (2) (118) 0 0 0 0 (13) 480 (40) Long-term debt 12,749 1,720 (5,514) 0 0 4,294 (3,614) 461 (1,241) 0 0 87 (165) (272) 8,505 (107) of which structured notes over one year and up to two years 891 186 (423) 0 0 632 (435) 28 (111) 0 0 1 5 (18) 756 (30) of which structured notes over two years 11,458 707 (5,077) 0 0 3,631 (3,140) 433 (1,138) 0 0 87 (170) (245) 6,546 (89) of which high-trigger instruments 5 0 0 0 0 0 (5) 0 0 0 0 0 0 0 0 0 of which other subordinated bonds 140 210 0 0 0 0 0 0 0 0 0 (1) 0 (4) 345 3 of which non-recourse liabilities 34 617 (11) 0 0 31 (21) 0 5 0 0 0 0 0 655 5 Other liabilities 1,367 168 (112) 195 (227) 64 (283) (27) (17) 0 84 0 0 (27) 1,185 44 Total liabilities at fair value 19,442 2,453 (6,730) 578 (423) 6,430 (5,906) 616 (1,492) (5) 84 87 (187) (447) 14,500 483 Net assets/(liabilities) at fair value (3,108) 2,111 4,470 6,728 (7,081) (4,116) 3,169 (393) 1,987 4 (134) (87) 187 (128) 3,609 298 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M20, changes in net unrealized gains/(losses) of CHF 284 million and CHF (36) (50) 2 Includes an adjustment of CHF 119 million reflecting the impact of applying the fair value option on certain loans (previously held at amortized cost) at the adoption of the ASU 2019-05. Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 0 Trading assets 8,980 705 (1,697) 8,831 (9,435) 556 (838) (75) 721 0 0 0 0 (96) 7,652 710 of which debt securities 2,242 484 (874) 1,597 (1,777) 0 0 16 50 0 0 0 0 (27) 1,711 163 of which foreign governments 232 0 (43) 68 (56) 0 0 3 3 0 0 0 0 (1) 206 1 of which corporates 1,260 384 (568) 1,055 (1,234) 0 0 16 6 0 0 0 0 (18) 901 158 of which RMBS 432 52 (216) 421 (379) 0 0 (1) 41 0 0 0 0 (5) 345 0 of which equity securities 132 39 (37) 57 (38) 0 0 0 4 0 0 0 0 (2) 155 (1) of which derivatives 3,298 140 (417) 0 0 556 (818) (88) 405 0 0 0 0 (42) 3,034 507 of which interest rate products 507 23 (9) 0 0 52 (42) 2 (6) 0 0 0 0 (15) 512 (31) of which foreign exchange derivatives 258 11 (10) 0 0 8 (9) 0 (30) 0 0 0 0 (3) 225 (17) of which equity/index-related products 1,054 48 (333) 0 0 199 (259) (84) 133 0 0 0 0 (6) 752 289 of which credit derivatives 673 58 (65) 0 0 150 (360) (7) 211 0 0 0 0 (7) 653 140 of which other derivatives 806 0 0 0 0 147 (148) 1 97 0 0 0 0 (11) 892 126 of which other trading assets 3,308 42 (369) 7,177 (7,620) 0 (20) (3) 262 0 0 0 0 (25) 2,752 41 Other investments 1,309 48 (5) 33 (110) 0 0 0 100 0 6 0 0 (12) 1,369 207 of which life finance instruments 1,067 0 0 20 (88) 0 0 0 96 0 0 0 0 (10) 1,085 98 Loans 4,324 296 (320) 19 (190) 769 (726) 8 20 0 0 0 0 (37) 4,163 30 of which commercial and industrial loans 1,949 81 (184) 19 (118) 76 (198) 5 1 0 0 0 0 (13) 1,618 21 of which financial institutions 1,391 215 0 0 (71) 185 (503) (1) 15 0 0 0 0 (4) 1,227 14 of which real estate 515 0 (78) 0 0 260 (11) 1 10 0 0 0 0 (10) 687 10 Other intangible assets (mortgage servicing rights) 163 0 0 9 0 0 0 0 0 0 (7) 0 0 (3) 162 (7) Other assets 1,543 102 (178) 938 (808) 290 (178) 0 24 0 0 0 0 (15) 1,718 0 of which loans held-for-sale 1,235 96 (125) 903 (805) 290 (178) 1 45 0 0 0 0 (13) 1,449 10 Total assets at fair value 16,349 1,151 (2,200) 9,830 (10,569) 1,615 (1,742) (67) 865 0 (1) 0 0 (163) 15,068 940 Liabilities (CHF million) Customer deposits 453 0 0 0 0 0 0 0 31 0 0 0 32 (21) 495 31 Obligation to return securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 0 Trading liabilities 3,589 195 (405) 388 (402) 1,091 (1,483) 81 400 0 0 0 0 (35) 3,419 594 of which debt securities 25 9 (8) 12 (32) 0 0 0 0 0 0 0 0 0 6 0 of which equity securities 37 9 0 376 (368) 0 0 0 (1) 0 0 0 0 0 53 0 of which derivatives 3,527 177 (397) 0 (2) 1,091 (1,483) 81 401 0 0 0 0 (35) 3,360 594 of which interest rate derivatives 189 5 (2) 0 0 21 (17) 0 23 0 0 0 0 (3) 216 28 of which foreign exchange derivatives 160 14 (10) 0 0 2 (24) (1) (9) 0 0 0 0 1 133 (12) of which equity/index-related derivatives 1,500 77 (303) 0 0 380 (504) 78 239 0 0 0 0 (18) 1,449 539 of which credit derivatives 1,140 81 (81) 0 0 551 (782) 4 195 0 0 0 0 (11) 1,097 54 Short-term borrowings 784 122 (178) 0 0 789 (686) 6 175 0 0 0 0 (15) 997 44 Long-term debt 12,671 2,104 2 (2,483) 0 0 2,754 2 (2,387) 2 101 1,067 2 0 0 4 164 2 (169) 13,826 1,085 of which structured notes over one year and up to two years 528 315 (228) 0 0 544 (345) 11 58 0 0 0 9 (12) 880 37 of which structured notes over two years 11,800 1,774 (2,123) 0 0 1,974 (2,007) 77 1,006 0 0 4 156 (150) 12,511 1,050 of which high-trigger instruments 6 0 0 0 0 (1) 0 0 0 0 0 0 0 0 5 0 Other liabilities 1,327 37 (77) 35 (57) 75 (280) (6) 30 0 161 0 0 (11) 1,234 1 Total liabilities at fair value 18,854 2,458 (3,143) 423 (485) 4,709 (4,836) 182 1,703 0 161 4 196 (251) 19,975 1,755 Net assets/(liabilities) at fair value (2,505) (1,307) 943 9,407 (10,084) (3,094) 3,094 (249) (838) 0 (162) (4) (196) 88 (4,907) (815) 2 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues. As of 6M19, changes in net unrealized gains/(losses) of CHF (924) 2 Prior period has been corrected. |
Quantitative information about level 3 assets and liabilities at fair value | Quantitative information about level 3 assets at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 170 – – – – – Trading assets 8,797 of which debt securities 3,198 of which foreign governments 163 Discounted cash flow Credit spread, in bp 76 76 76 of which corporates 1,642 of which 509 Discounted cash flow Credit spread, in bp (7) 1,558 606 of which 302 Market comparable Price, in % 0 207 104 of which 622 Option model Correlation, in % (50) 93 42 Gap risk, in % 2 0 2 0 Recovery rate, in % 40 40 40 Volatility, in % 0 213 27 of which 54 Vendor price Price, in actuals 0 1,373 1 of which RMBS 1,102 Discounted cash flow Default rate, in % 0 14 2 Discount rate, in % 1 40 7 Loss severity, in % 0 100 32 Prepayment rate, in % 0 35 9 of which equity securities 142 Vendor price Price, in actuals 0 35,399 327 of which derivatives 4,101 of which interest rate products 639 Option model Correlation, in % (1) 100 73 Prepayment rate, in % 1 27 9 Volatility, in % (30) 25 (2) Volatility skew, in % (3) 0 (2) of which foreign exchange products 138 Option model Correlation, in % 5 70 29 Prepayment rate, in % 23 27 25 of which equity/index-related products 1,067 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 93 55 Gap risk, in % 2 0 2 0 Volatility, in % (85) 213 16 of which credit derivatives 1,172 of which 1,026 Discounted cash flow Correlation, in % 97 97 97 Credit curve volatility, in % 60 103 89 Credit spread, in bp 0 3,286 994 Default rate, in % 1 5 3 Discount rate, in % 3 30 20 Funding spread, in bp 100 156 147 Loss severity, in % 10 95 58 Prepayment rate, in % 2 20 5 Recovery rate, in % 0 40 19 of which 95 Market comparable Price, in % 91 113 107 of which other derivatives 1,085 Discounted cash flow Market implied life expectancy, in years 2 15 6 Mortality rate, in % 71 134 97 of which other trading assets 1,356 of which 881 Discounted cash flow Market implied life expectancy, in years 3 14 8 of which 253 Market comparable Price, in % 0 106 24 of which 204 Option model Mortality rate, in % 0 70 6 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 2,839 of which other equity investments 1,765 of which 702 Discounted cash flow Discount rate, in % 9 9 9 Terminal growth rate, in % 3 3 3 of which 146 Market comparable Price, in % 100 100 100 of which 857 Vendor price Price, in actuals 1 912 282 of which life finance instruments 1,066 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 3,513 of which commercial and industrial loans 1,473 of which 912 Discounted cash flow Credit spread, in bp 99 2,243 944 Recovery rate, in % 25 40 29 of which 437 Market comparable Price, in % 10 100 66 of which financial institutions 1,100 of which 923 Discounted cash flow Credit spread, in bp 151 2,011 692 Recovery rate, in % 25 40 26 of which 167 Market comparable Price, in % 12 100 41 of which government and public institutions 447 of which 277 Discounted cash flow Credit spread, in bp 625 866 712 Recovery rate, in % 25 25 25 of which 157 Market comparable Price, in % 62 62 62 Other intangible assets (mortgage servicing rights) 209 – – – – – Other assets 2,581 of which loans held-for-sale 2,304 of which 323 Discounted cash flow Credit spread, in bp 117 651 385 Recovery rate, in % 0 40 24 of which 1,945 Market comparable Price, in % 0 130 68 Total level 3 assets at fair value 18,109 1 Weighted average is calculated based on the fair value of the instruments. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 1 – – – – – Trading assets 7,885 of which debt securities 1,923 of which foreign governments 198 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 1,128 of which 503 Market comparable Price, in % 0 129 97 of which 913 Option model Correlation, in % (60) 100 63 Gap risk, in % 2 0 2 0 Volatility, in % 0 275 27 of which RMBS 317 Discounted cash flow Default rate, in % 0 12 2 Discount rate, in % 1 36 13 Loss severity, in % 0 100 46 Prepayment rate, in % 2 45 10 of which equity securities 197 Vendor price Price, in actuals 0 36,760 383 of which derivatives 3,534 of which interest rate products 554 Option model Correlation, in % 0 100 69 Prepayment rate, in % 1 28 10 Volatility skew, in % (4) 6 (1) of which foreign exchange products 152 Option model Correlation, in % 5 70 30 Prepayment rate, in % 23 28 25 of which equity/index-related products 1,040 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 100 64 Gap risk, in % 2 0 2 0 Volatility, in % 0 275 30 of which credit derivatives 879 of which 691 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 2 1,033 150 Default rate, in % 1 20 4 Discount rate, in % 8 27 16 Funding spread, in bp 100 115 102 Loss severity, in % 29 85 69 Prepayment rate, in % 0 7 4 Recovery rate, in % 0 40 26 of which 142 Market comparable Price, in % 86 110 98 of which other derivatives 909 Discounted cash flow Market implied life expectancy, in years 2 15 6 Mortality rate, in % 71 134 97 of which other trading assets 2,231 of which 856 Discounted cash flow Market implied life expectancy, in years 2 15 7 of which 1,118 Market comparable Price, in % 0 112 27 of which 233 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 2,523 of which other equity investments 1,463 of which 398 Discounted cash flow Discount rate, in % 9 9 9 Terminal growth rate, in % 3 3 3 of which 147 Market comparable Price, in % 100 100 100 of which 857 Vendor price Price, in actuals 1 869 231 of which life finance instruments 1,052 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 3,716 of which commercial and industrial loans 1,283 of which 996 Discounted cash flow Credit spread, in bp 96 1,484 654 Recovery rate, in % 25 25 25 of which 273 Market comparable Price, in % 0 99 64 of which financial institutions 1,201 of which 984 Discounted cash flow Credit spread, in bp 111 1,261 412 Recovery rate, in % 25 25 25 of which 135 Market comparable Price, in % 16 100 36 of which government and public institutions 830 of which 468 Discounted cash flow Credit spread, in bp 457 526 500 Recovery rate, in % 25 40 30 of which 166 Market comparable Price, in % 62 62 62 Other intangible assets (mortgage servicing rights) 244 – – – – – Other assets 1,846 of which loans held-for-sale 1,619 of which 501 Discounted cash flow Credit spread, in bp 117 381 243 Recovery rate, in % 0 1 1 of which 1,026 Market comparable Price, in % 0 180 91 Total level 3 assets at fair value 16,215 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 liabilities at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 433 Option model Correlation, in % (6) 100 78 Credit spread, in bp 81 145 140 Mean revision, in % 2 10 10 10 Obligation to return securities received as collateral 170 – – – – – Trading liabilities 3,727 of which equity securities 70 Vendor price Price, in actuals 0 323 1 of which derivatives 3,657 of which interest rate derivatives 211 Option model Correlation, in % (1) 100 65 Prepayment rate, in % 1 27 6 of which foreign exchange derivatives 92 of which 9 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 190 190 190 of which 54 Option model Correlation, in % 35 70 53 Prepayment rate, in % 23 27 25 of which equity/index-related derivatives 1,401 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 93 49 Volatility, in % (85) 213 24 of which credit derivatives 1,558 of which 922 Discounted cash flow Correlation, in % 38 45 41 Credit curve volatility, in % 62 102 78 Credit spread, in bp 1 5,394 475 Default rate, in % 0 5 2 Discount rate, in % 8 30 20 Funding spread, in bp 100 174 132 Loss severity, in % 0 95 59 Prepayment rate, in % 0 7 5 Recovery rate, in % 2 40 24 of which 586 Market comparable Price, in % 89 113 99 of which 16 Option model Correlation, in % 49 57 53 Credit spread, in bp 29 3,232 430 1 Weighted average is calculated based on the fair value of the instruments. 2 Management's best estimate of the speed at which interest rates will revert to the long-term average. 3 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Short-term borrowings 480 of which 68 Discounted cash flow Credit spread, in bp (28) 1,317 1,160 Recovery rate, in % 35 40 40 of which 304 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 93 51 Fund gap risk, in % 2 0 2 0 Volatility, in % 0 213 27 Long-term debt 8,505 of which structured notes over one year and up to two years 756 of which 42 Discounted cash flow Credit spread, in bp 0 141 61 Recovery rate, in % 25 25 25 of which 574 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 93 49 Fund gap risk, in % 2 0 2 0 Volatility, in % 0 213 19 of which structured notes over two years 6,546 of which 1,601 Discounted cash flow Credit spread, in bp (28) 562 110 Recovery rate, in % 5 49 33 of which 13 Market comparable Price, in % 32 32 32 of which 4,802 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 93 45 Gap risk, in % 2 0 2 0 Mean reversion, in % 4 (10) 0 (6) Volatility, in % 0 213 23 of which other subordinated bonds 345 – – – – – of which non-recourse liabilities 655 Market comparable Price, in % 0 99 51 Other liabilities 1,185 – – – – – Total level 3 liabilities at fair value 14,500 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 3 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 474 Option model Correlation, in % 0 100 77 Credit spread, in bp 46 79 71 Mean revision, in % 2 10 10 10 Obligation to return securities received as collateral 1 – – – – – Trading liabilities 3,854 of which equity securities 53 Vendor price Price, in actuals 0 66 2 of which derivatives 3,801 of which interest rate derivatives 167 Option model Correlation, in % 0 100 47 Prepayment rate, in % 1 28 7 of which foreign exchange derivatives 98 of which 37 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 47 147 71 of which 12 Market comparable Price, in % 100 100 100 of which 47 Option model Correlation, in % 35 70 53 Prepayment rate, in % 23 28 25 of which equity/index-related derivatives 1,921 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (60) 100 66 Volatility, in % 0 275 26 of which credit derivatives 1,211 of which 745 Discounted cash flow Correlation, in % 38 45 44 Credit spread, in bp 2 1,041 142 Default rate, in % 1 20 4 Discount rate, in % 8 27 15 Funding spread, in bp 100 154 122 Loss severity, in % 29 85 69 Prepayment rate, in % 0 8 5 Recovery rate, in % 0 40 31 of which 412 Market comparable Price, in % 89 110 99 of which 23 Option model Correlation, in % 49 50 49 Credit spread, in bp 17 1,225 270 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Management's best estimate of the speed at which interest rates will revert to the long-term average. 3 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Short-term borrowings 997 of which 56 Discounted cash flow Credit spread, in bp (40) 937 138 Recovery rate, in % 40 40 40 of which 847 Option model Buyback probability, in % 50 100 70 Correlation, in % (50) 100 62 Fund gap risk, in % 2 0 2 0 Volatility, in % 1 275 39 Long-term debt 12,749 of which structured notes over one year and up to two years 891 of which 78 Discounted cash flow Credit spread, in bp (15) 3,206 246 Recovery rate, in % 25 25 25 of which 813 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (50) 100 64 Fund gap risk, in % 2 0 2 0 Volatility, in % 1 275 36 of which structured notes over two years 11,458 of which 1,141 Discounted cash flow Credit spread, in bp (12) 1,260 40 Recovery rate, in % 25 40 29 of which 22 Market comparable Price, in % 43 46 43 of which 9,972 Option model Buyback probability, in % 3 50 100 70 Correlation, in % (60) 100 63 Gap risk, in % 2 0 2 0 Mean reversion, in % 4 (55) 0 (7) Volatility, in % 0 275 26 of which high-trigger instruments 5 – – – – – of which other subordinated bonds 140 – – – – – Other liabilities 1,367 – – – – – Total level 3 liabilities at fair value 19,442 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 3 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. |
Own credit gains/(losses) on fair value option elected instruments recorded in AOCI | Gains/(losses) attributable to changes in investment-specific credit risk 1 Gains/(losses) recorded 1 in 6M20 Cumulative 6M19 6M20 6M19 Financial instruments (CHF million) Customer deposits 23 (44) (34) 0 0 Short-term borrowings (22) (78) 1 0 1 Long-term debt 1,723 (813) (1,476) 99 109 of which treasury debt over two years 1,306 383 (652) 0 0 of which structured notes over two years 300 (1,170) (670) 99 109 Total 1,724 (935) (1,509) 99 110 1 Amounts are reflected gross of tax. |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | Difference between the fair value and the unpaid principal balances of fair value option-elected financial instruments 6M20 2019 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 78,448 78,323 125 85,556 85,463 93 Loans 13,231 14,326 (1,095) 12,661 13,103 (442) Other assets 1 8,398 10,999 (2,601) 9,710 12,006 (2,296) Due to banks and customer deposits (627) (542) (85) (582) (508) (74) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (17,473) (17,474) 1 (10,823) (10,827) 4 Short-term borrowings (12,079) (12,523) 444 (11,333) (11,187) (146) Long-term debt (67,959) (73,956) 5,997 (69,406) (71,177) 1,771 Other liabilities (659) (1,667) 1,008 (709) (1,681) 972 Non-performing and non-interest-earning loans 2 904 3,759 (2,855) 543 3,235 (2,692) 1 Primarily loans held-for-sale. 2 Included in loans or other assets. Gains and losses on financial instruments 6M20 6M19 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 1 1 15 1 of which related to credit risk (6) 6 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 789 1 1,495 1 Other investments 2 205 3 171 3 of which related to credit risk 1 1 Loans (247) 3 558 1 of which related to credit risk (575) 74 Other assets 416 1 460 3 of which related to credit risk (19) 111 Due to banks and customer deposits (39) 3 (36) 3 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (82) 1 (389) 1 Short-term borrowings (16) 3 (559) 3 of which related to credit risk 1 1 Long-term debt 2 1,842 3 (5,689) 3 of which related to credit risk 14 3 Other liabilities (102) 3 76 4 of which related to credit risk (124) 39 1 Primarily recognized in net interest income. 2 Prior period has been corrected. 3 Primarily recognized in trading revenues. 4 Primarily recognized in other revenues. |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying value and fair value of financial instruments not carried at fair value Carrying end of Level 1 Level 2 Level 3 Total 6M20 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 26,442 0 26,443 0 26,443 Investment securities 95 95 0 0 95 Loans 285,219 0 279,870 14,709 294,579 Other financial assets 1 147,190 130,968 15,575 651 147,194 Financial liabilities Due to banks and customer deposits 404,023 223,722 180,374 0 404,096 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 13,210 0 13,210 0 13,210 Short-term borrowings 15,783 0 15,794 0 15,794 Long-term debt 100,595 0 100,576 1,638 102,214 Other financial liabilities 2 14,739 0 14,394 313 14,707 2019 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 21,441 0 21,441 0 21,441 Loans 287,815 0 285,575 11,562 297,137 Other financial assets 1 114,267 100,765 12,769 719 114,253 Financial liabilities Due to banks and customer deposits 398,032 190,251 207,786 0 398,037 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 16,818 0 16,818 0 16,818 Short-term borrowings 17,536 0 17,536 0 17,536 Long-term debt 81,593 0 83,081 1,123 84,204 Other financial liabilities 2 16,508 0 16,343 168 16,511 1 Primarily includes cash and due from banks, interest-bearing deposits with banks, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities. 2 Primarily includes cash collateral on derivative instruments and interest and fee payables. |
Assets pledged and collateral (
Assets pledged and collateral (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Assets pledged and collateral | Assets pledged end of 2Q20 4Q19 CHF million Total assets pledged or assigned as collateral 137,134 133,333 of which encumbered 66,697 69,681 |
Fair value of collateral received with the right to sell or repledge | Collateral end of 2Q20 4Q19 CHF million Fair value of collateral received with the right to sell or repledge 419,378 412,765 of which sold or repledged 186,730 185,935 |
Bank | |
Assets pledged and collateral | Assets pledged end of 6M20 2019 CHF million Total assets pledged or assigned as collateral 137,134 133,333 of which encumbered 66,697 69,681 |
Fair value of collateral received with the right to sell or repledge | Collateral end of 6M20 2019 CHF million Fair value of collateral received with the right to sell or repledge 419,378 412,765 of which sold or repledged 186,730 185,935 |
Subsidiary guarantee informat_2
Subsidiary guarantee information (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Subsidiary guarantee information | |
Schedule of subsidiary guarantee information [Table Text Block] | Condensed consolidating statements of operations Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 600 2,985 3,585 403 (399) 3,589 Interest expense (647) (1,370) (2,017) (407) 405 (2,019) Net interest income (47) 1,615 1,568 (4) 6 1,570 Commissions and fees 967 1,929 2,896 5 (21) 2,880 Trading revenues 156 1,071 1,227 (1) 28 1,254 Other revenues 766 (227) 539 1,206 2 (1,255) 490 Net revenues 1,842 4,388 6,230 1,206 (1,242) 6,194 Provision for credit losses 11 281 292 0 4 296 Compensation and benefits 726 1,637 2,363 31 200 2,594 General and administrative expenses 434 1,339 1,773 15 (348) 1,440 Commission expenses 51 262 313 2 (2) 313 Total other operating expenses 485 1,601 2,086 17 (350) 1,753 Total operating expenses 1,211 3,238 4,449 48 (150) 4,347 Income/(loss) before taxes 620 869 1,489 1,158 (1,096) 1,551 Income tax expense/(benefit) 185 185 370 (4) 25 391 Net income/(loss) 435 684 1,119 1,162 (1,121) 1,160 Net income/(loss) attributable to noncontrolling interests 0 (2) (2) 0 0 (2) Net income/(loss) attributable to shareholders 435 686 1,121 1,162 (1,121) 1,162 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income Bank 1 Comprehensive income (CHF million) Net income/(loss) 435 684 1,119 1,162 (1,121) 1,160 Gains/(losses) on cash flow hedges 0 17 17 0 1 18 Foreign currency translation (245) (178) (423) 12 (22) (433) Unrealized gains/(losses) on securities 0 (18) (18) 0 0 (18) Actuarial gains/(losses) 1 4 5 0 68 73 Net prior service credit/(cost) 0 (1) (1) 0 (33) (34) Gains/(losses) on liabilities related to credit risk (63) (2,512) (2,575) (88) 5 (2,658) Other comprehensive income/(loss), net of tax (307) (2,688) (2,995) (76) 19 (3,052) Comprehensive income/(loss) 128 (2,004) (1,876) 1,086 (1,102) (1,892) Comprehensive income/(loss) attributable to noncontrolling interests (1) (9) (10) 0 8 (2) Comprehensive income/(loss) attributable to shareholders 129 (1,995) (1,866) 1,086 (1,110) (1,890) 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,016 4,639 5,655 311 (313) 5,653 Interest expense (1,096) (2,552) (3,648) (322) 318 (3,652) Net interest income (80) 2,087 2,007 (11) 5 2,001 Commissions and fees 912 1,992 2,904 5 18 2,927 Trading revenues 221 10 231 (54) 5 182 Other revenues 512 22 534 1,020 2 (1,083) 471 Net revenues 1,565 4,111 5,676 960 (1,055) 5,581 Provision for credit losses 3 22 25 0 0 25 Compensation and benefits 698 1,607 2,305 30 210 2,545 General and administrative expenses 459 1,304 1,763 (7) (361) 1,395 Commission expenses 44 269 313 0 1 314 Total other operating expenses 503 1,573 2,076 (7) (360) 1,709 Total operating expenses 1,201 3,180 4,381 23 (150) 4,254 Income/(loss) before taxes 361 909 1,270 937 (905) 1,302 Income tax expense 140 199 339 0 26 365 Net income/(loss) 221 710 931 937 (931) 937 Net income/(loss) attributable to noncontrolling interests 3 1 4 0 (4) 0 Net income/(loss) attributable to shareholders 218 709 927 937 (927) 937 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 221 710 931 937 (931) 937 Gains/(losses) on cash flow hedges 0 45 45 (1) (1) 43 Foreign currency translation (323) (255) (578) (1) (13) (592) Unrealized gains/(losses) on securities 0 12 12 0 0 12 Actuarial gains/(losses) 4 0 4 0 382 386 Net prior service credit/(cost) 0 0 0 0 306 306 Gains/(losses) on liabilities related to credit risk (16) (200) (216) (19) 4 (231) Other comprehensive income/(loss), net of tax (335) (398) (733) (21) 678 (76) Comprehensive income/(loss) (114) 312 198 916 (253) 861 Comprehensive income/(loss) attributable to noncontrolling interests 1 (11) (10) 0 7 (3) Comprehensive income/(loss) attributable to shareholders (115) 323 208 916 (260) 864 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,340 6,527 7,867 756 (739) 7,884 Interest expense (1,479) (3,284) (4,763) (763) 746 (4,780) Net interest income (139) 3,243 3,104 (7) 7 3,104 Commissions and fees 1,769 4,047 5,816 10 (19) 5,807 Trading revenues 276 1,829 2,105 5 71 2,181 Other revenues 1,261 (271) 990 2,509 2 (2,621) 878 Net revenues 3,167 8,848 12,015 2,517 (2,562) 11,970 Provision for credit losses 20 840 860 0 4 864 Compensation and benefits 1,317 3,103 4,420 39 451 4,910 General and administrative expenses 887 2,608 3,495 3 (712) 2,786 Commission expenses 106 552 658 2 (2) 658 Total other operating expenses 993 3,160 4,153 5 (714) 3,444 Total operating expenses 2,310 6,263 8,573 44 (263) 8,354 Income/(loss) before taxes 837 1,745 2,582 2,473 (2,303) 2,752 Income tax expense/(benefit) 191 53 244 (3) 40 281 Net income/(loss) 646 1,692 2,338 2,476 (2,343) 2,471 Net income/(loss) attributable to noncontrolling interests (4) 8 4 0 (9) (5) Net income/(loss) attributable to shareholders 650 1,684 2,334 2,476 (2,334) 2,476 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 646 1,692 2,338 2,476 (2,343) 2,471 Gains/(losses) on cash flow hedges 0 243 243 0 0 243 Foreign currency translation (337) (674) (1,011) 12 (30) (1,029) Unrealized gains/(losses) on securities 0 (20) (20) 0 0 (20) Actuarial gains/(losses) 3 4 7 0 139 146 Net prior service credit/(cost) 0 0 0 0 (68) (68) Gains/(losses) on liabilities related to credit risk 66 1,548 1,614 71 7 1,692 Other comprehensive income/(loss), net of tax (268) 1,101 833 83 48 964 Comprehensive income/(loss) 378 2,793 3,171 2,559 (2,295) 3,435 Comprehensive income/(loss) attributable to noncontrolling interests (5) (4) (9) 0 3 (6) Comprehensive income/(loss) attributable to shareholders 383 2,797 3,180 2,559 (2,298) 3,441 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 2,014 8,462 10,476 611 (616) 10,471 Interest expense (2,158) (4,763) (6,921) (635) 618 (6,938) Net interest income (144) 3,699 3,555 (24) 2 3,533 Commissions and fees 1,616 3,867 5,483 11 45 5,539 Trading revenues 426 661 1,087 (64) (1) 1,022 Other revenues 996 (10) 986 1,797 2 (1,909) 874 Net revenues 2,894 8,217 11,111 1,720 (1,863) 10,968 Provision for credit losses 9 97 106 0 0 106 Compensation and benefits 1,430 3,179 4,609 48 406 5,063 General and administrative expenses 908 2,600 3,508 (14) (686) 2,808 Commission expenses 95 532 627 0 0 627 Total other operating expenses 1,003 3,132 4,135 (14) (686) 3,435 Total operating expenses 2,433 6,311 8,744 34 (280) 8,498 Income/(loss) before taxes 452 1,809 2,261 1,686 (1,583) 2,364 Income tax expense/(benefit) 180 521 701 0 (23) 678 Net income/(loss) 272 1,288 1,560 1,686 (1,560) 1,686 Net income/(loss) attributable to noncontrolling interests 3 4 7 0 (7) – Net income/(loss) attributable to shareholders 269 1,284 1,553 1,686 (1,553) 1,686 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 272 1,288 1,560 1,686 (1,560) 1,686 Gains/(losses) on cash flow hedges 0 93 93 (3) (1) 89 Foreign currency translation (147) (244) (391) 2 (4) (393) Unrealized gains/(losses) on securities 0 27 27 0 (1) 26 Actuarial gains/(losses) 6 2 8 0 438 446 Net prior service credit/(cost) 0 0 0 0 282 282 Gains/(losses) on liabilities related to credit risk (53) (1,185) (1,238) (48) (66) (1,352) Other comprehensive income/(loss), net of tax (194) (1,307) (1,501) (49) 648 (902) Comprehensive income/(loss) 78 (19) 59 1,637 (912) 784 Comprehensive income/(loss) attributable to noncontrolling interests 2 (2) 0 0 (1) (1) Comprehensive income/(loss) attributable to shareholders 76 (17) 59 1,637 (911) 785 1 Includes eliminations and consolidation adjustments. Condensed consolidating balance sheets Bank 1 Assets (CHF million) Cash and due from banks 2,678 128,614 131,292 293 485 132,070 Interest-bearing deposits with banks 8 1,168 1,176 480 (471) 1,185 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 37,319 67,571 104,890 0 0 104,890 Securities received as collateral 1,874 40,605 42,479 0 0 42,479 Trading assets 30,703 126,174 156,877 0 (147) 156,730 Investment securities 0 582 582 41,352 (41,350) 584 Other investments 578 5,236 5,814 53,025 (52,991) 5,848 Net loans 11,991 289,936 301,927 0 (7,615) 294,312 Goodwill 701 3,278 3,979 0 697 4,676 Other intangible assets 240 33 273 0 0 273 Brokerage receivables 17,842 26,447 44,289 0 (2) 44,287 Other assets 12,855 25,056 37,911 755 2,480 41,146 Total assets 116,789 714,700 831,489 95,905 (98,914) 828,480 Liabilities and equity (CHF million) Due to banks 80 17,938 18,018 1,758 (1,758) 18,018 Customer deposits 1 390,092 390,093 0 (1,098) 388,995 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 8,114 22,569 30,683 0 (94) 30,589 Obligation to return securities received as collateral 1,874 40,605 42,479 0 0 42,479 Trading liabilities 9,497 34,543 44,040 0 0 44,040 Short-term borrowings 6,363 21,498 27,861 0 (475) 27,386 Long-term debt 47,645 120,909 168,554 47,035 (46,163) 169,426 Brokerage payables 15,987 15,924 31,911 0 (2) 31,909 Other liabilities 10,116 17,694 27,810 577 400 28,787 Total liabilities 99,677 681,772 781,449 49,370 (49,190) 781,629 Total shareholders' equity 17,057 32,097 49,154 46,535 (49,154) 46,535 Noncontrolling interests 55 831 886 0 (570) 316 Total equity 17,112 32,928 50,040 46,535 (49,724) 46,851 Total liabilities and equity 116,789 714,700 831,489 95,905 (98,914) 828,480 1 Includes eliminations and consolidation adjustments. Condensed consolidating balance sheets (continued) Bank 1 Assets (CHF million) Cash and due from banks 2,642 98,402 101,044 277 558 101,879 Interest-bearing deposits with banks 10 663 673 489 (421) 741 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 26,905 80,092 106,997 0 0 106,997 Securities received as collateral 2,921 37,298 40,219 0 0 40,219 Trading assets 35,339 118,556 153,895 1 (99) 153,797 Investment securities 0 1,004 1,004 32,853 (32,851) 1,006 Other investments 621 5,013 5,634 49,780 (49,748) 5,666 Net loans 11,907 292,118 304,025 0 (7,246) 296,779 Goodwill 715 3,245 3,960 0 703 4,663 Other intangible assets 276 15 291 0 0 291 Brokerage receivables 17,012 18,636 35,648 0 0 35,648 Other assets 12,843 24,226 37,069 625 1,915 39,609 Total assets 111,191 679,268 790,459 84,025 (87,189) 787,295 Liabilities and equity (CHF million) Due to banks 63 16,679 16,742 2,287 (2,285) 16,744 Customer deposits 1 384,949 384,950 0 (1,167) 383,783 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 5,799 21,842 27,641 0 (108) 27,533 Obligation to return securities received as collateral 2,921 37,298 40,219 0 0 40,219 Trading liabilities 8,468 29,718 38,186 0 0 38,186 Short-term borrowings 8,720 20,149 28,869 0 (484) 28,385 Long-term debt 43,821 107,179 151,000 37,596 (36,591) 152,005 Brokerage payables 15,213 10,470 25,683 0 0 25,683 Other liabilities 9,414 20,992 30,406 498 139 31,043 Total liabilities 94,420 649,276 743,696 40,381 (40,496) 743,581 Total shareholders' equity 16,713 29,407 46,120 43,644 (46,120) 43,644 Noncontrolling interests 58 585 643 0 (573) 70 Total equity 16,771 29,992 46,763 43,644 (46,693) 43,714 Total liabilities and equity 111,191 679,268 790,459 84,025 (87,189) 787,295 1 Includes eliminations and consolidation adjustments. Condensed consolidating statement of cash flows Bank 1 Operating activities (CHF million) Net cash provided by/(used in) operating activities 6,975 (9,696) (2,721) (44) 2 210 (2,555) Investing activities (CHF million) (Increase)/decrease in interest-bearing deposits with banks 1 (472) (471) 10 50 (411) (Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions (11,129) 10,230 (899) 0 0 (899) Purchase of investment securities 0 (259) (259) (9,946) 9,946 (259) Proceeds from sale of investment securities 0 626 626 0 0 626 Maturities of investment securities 0 51 51 0 0 51 Investments in subsidiaries and other investments (7) (64) (71) 0 0 (71) Proceeds from sale of other investments 60 353 413 0 0 413 (Increase)/decrease in loans (331) (2,671) (3,002) 0 379 (2,623) Proceeds from sales of loans 0 2,319 2,319 0 0 2,319 Capital expenditures for premises and equipment and other intangible assets (143) (341) (484) 0 (69) (553) Proceeds from sale of premises and equipment and other intangible assets 0 23 23 0 0 23 Other, net 6 82 88 0 0 88 Net cash provided by/(used in) investing activities (11,543) 9,877 (1,666) (9,936) 10,306 (1,296) Financing activities (CHF million) Increase/(decrease) in due to banks and customer deposits 19 9,576 9,595 (529) 591 9,657 Increase/(decrease) in short-term borrowings (2,222) 2,623 401 0 (553) (152) Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 2,470 1,237 3,707 0 11 3,718 Issuances of long-term debt 115,410 (74,318) 41,092 10,946 (10,699) 41,339 Repayments of long-term debt (110,990) 91,176 (19,814) 0 0 (19,814) Sale of treasury shares 0 0 0 0 4,003 4,003 Repurchase of treasury shares 0 0 0 (488) (4,011) (4,499) Dividends paid 0 (10) (10) (358) 10 (358) Other, net (30) 489 459 425 107 991 Net cash provided by/(used in) financing activities 4,657 30,773 35,430 9,996 (10,541) 34,885 Effect of exchange rate changes on cash and due from banks (CHF million) Effect of exchange rate changes on cash and due from banks (53) (742) (795) 0 (48) (843) Net increase/(decrease) in cash and due from banks (CHF million) Net increase/(decrease) in cash and due from banks 36 30,212 30,248 16 (73) 30,191 Cash and due from banks at beginning of period 3 2,642 98,402 101,044 277 558 101,879 Cash and due from banks at end of period 3 2,678 128,614 131,292 293 485 132,070 1 Includes eliminations and consolidation adjustments. 2 Consists of dividend payments from Group companies of CHF 10 million and CHF 8 million from bank and non-bank subsidiaries, respectively, and other cash items from parent company operations such as Group financing. 3 Includes restricted cash. Condensed consolidating statement of cash flows (continued) Bank 1 Operating activities (CHF million) Net cash provided by/(used in) operating activities 738 (3,240) (2,502) (111) 2 (847) (3,460) Investing activities (CHF million) (Increase)/decrease in interest-bearing deposits with banks 12 225 237 5 (6) 236 (Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions (3,428) 6,348 2,920 0 0 2,920 Purchase of investment securities 0 (307) (307) (3,517) 3,517 (307) Proceeds from sale of investment securities 0 4 4 0 0 4 Maturities of investment securities 0 394 394 0 0 394 Investments in subsidiaries and other investments (40) (107) (147) (5) 5 (147) Proceeds from sale of other investments 317 251 568 25 (1) 592 (Increase)/decrease in loans (419) (10,646) (11,065) 0 1,198 (9,867) Proceeds from sales of loans 0 2,460 2,460 0 0 2,460 Capital expenditures for premises and equipment and other intangible assets (144) (327) (471) 0 (83) (554) Proceeds from sale of premises and equipment and other intangible assets 0 29 29 0 0 29 Other, net 40 182 222 0 0 222 Net cash provided by/(used in) investing activities (3,662) (1,494) (5,156) (3,492) 4,630 (4,018) Financing activities (CHF million) Increase/(decrease) in due to banks and customer deposits 37 4,872 4,909 405 (317) 4,997 Increase/(decrease) in short-term borrowings (228) 4,119 3,891 0 (47) 3,844 Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (228) (4,628) (4,856) 0 (111) (4,967) Issuances of long-term debt 106,285 (91,626) 14,659 4,217 (4,239) 14,637 Repayments of long-term debt (102,644) 84,040 (18,604) 0 0 (18,604) Sale of treasury shares 0 0 0 3 4,717 4,720 Repurchase of treasury shares 0 0 0 (1,013) (4,705) (5,718) Dividends paid (1) (10) (11) (695) 10 (696) Other, net (126) 406 280 626 948 1,854 Net cash provided by/(used in) financing activities 3,095 (2,827) 268 3,543 (3,744) 67 Effect of exchange rate changes on cash and due from banks (CHF million) Effect of exchange rate changes on cash and due from banks (24) (126) (150) 0 3 (147) Net increase/(decrease) in cash and due from banks (CHF million) Net increase/(decrease) in cash and due from banks 147 (7,687) (7,540) (60) 42 (7,558) Cash and due from banks at beginning of period 3 2,540 96,774 99,314 324 409 100,047 Cash and due from banks at end of period 3 2,687 89,087 91,774 264 451 92,489 1 Includes eliminations and consolidation adjustments. 2 Consists of dividend payments from Group companies of CHF 10 million and CHF 14 million from bank and non-bank subsidiaries, respectively, and other cash items from parent company operations such as Group financing. 3 Includes restricted cash. |
Recently issued accounting st_2
Recently issued accounting standards (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Accounting change | ||||||
Retained Earnings (Accumulated Deficit) | SFr 32,808 | SFr 31,816 | SFr 32,808 | SFr 30,634 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (19,304) | (16,252) | (19,304) | (20,269) | ||
Net revenues | 6,194 | 5,776 | SFr 5,581 | 11,970 | SFr 10,968 | |
Total operating expenses | 4,347 | 4,007 | 4,254 | 8,354 | 8,498 | |
Compensation and benefits | 2,594 | 2,316 | 2,545 | 4,910 | 5,063 | |
General and administrative expenses | 1,440 | 1,346 | 1,395 | 2,786 | 2,808 | |
Assets and Liabilities, Lessee [Abstract] | ||||||
Operating Lease, Liability | 2,911 | SFr 3,023 | 2,911 | 3,213 | ||
Accounting Standards Update 2016-13 [Member] | ||||||
Accounting change | ||||||
Retained Earnings (Accumulated Deficit) | (132) | (132) | ||||
Bank | ||||||
Accounting change | ||||||
Retained Earnings (Accumulated Deficit) | 15,694 | 15,694 | 13,492 | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (16,700) | (16,700) | (17,546) | |||
Net revenues | 6,230 | 5,676 | 12,015 | 11,111 | ||
Total operating expenses | 4,449 | 4,381 | 8,573 | 8,744 | ||
Compensation and benefits | 2,363 | 2,305 | 4,420 | 4,609 | ||
General and administrative expenses | 1,773 | SFr 1,763 | 3,495 | SFr 3,508 | ||
Assets and Liabilities, Lessee [Abstract] | ||||||
Operating Lease, Liability | 2,111 | 2,111 | SFr 2,388 | |||
Bank | Accounting Standards Update 2016-13 [Member] | ||||||
Accounting change | ||||||
Retained Earnings (Accumulated Deficit) | SFr (132) | SFr (132) |
Business developments (Details)
Business developments (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | ||
Business Acquisition | |||||||||
Issued shares (in shares) | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | |
Other Revenue, Other Investments | SFr 223 | SFr 228 | SFr 121 | SFr 451 | SFr 223 | ||||
Bank | |||||||||
Business Acquisition | |||||||||
Issued shares (in shares) | [1] | 4,399,680,200 | 4,399,680,200 | 4,399,680,200 | |||||
Other Revenue, Other Investments | SFr 451 | SFr 222 | |||||||
[1] | The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2020. Each share is entitled to one vote. The Bank has no warrants on its own shares outstanding. |
Segment information - Income st
Segment information - Income statement related (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Segment Reporting Information | |||||
Net revenues | SFr 6,194 | SFr 5,776 | SFr 5,581 | SFr 11,970 | SFr 10,968 |
Income/(loss) before taxes | 1,551 | 1,201 | 1,302 | 2,752 | 2,364 |
Operating Segments [Member] | Swiss Universal Bank | |||||
Segment Reporting Information | |||||
Net revenues | 1,504 | 1,509 | 1,476 | 3,013 | 2,855 |
Income/(loss) before taxes | 687 | 589 | 654 | 1,276 | 1,204 |
Operating Segments [Member] | International Wealth Management | |||||
Segment Reporting Information | |||||
Net revenues | 1,274 | 1,502 | 1,369 | 2,776 | 2,786 |
Income/(loss) before taxes | 348 | 537 | 444 | 885 | 967 |
Operating Segments [Member] | Asia Pacific | |||||
Segment Reporting Information | |||||
Net revenues | 1,064 | 1,025 | 913 | 2,089 | 1,767 |
Income/(loss) before taxes | 298 | 252 | 237 | 550 | 420 |
Operating Segments [Member] | Global Markets | |||||
Segment Reporting Information | |||||
Net revenues | 1,901 | 1,630 | 1,553 | 3,531 | 3,025 |
Income/(loss) before taxes | 591 | 330 | 357 | 921 | 639 |
Operating Segments [Member] | Investment Banking & Capital Markets | |||||
Segment Reporting Information | |||||
Net revenues | 702 | 183 | 454 | 885 | 810 |
Income/(loss) before taxes | 202 | (378) | 6 | (176) | (87) |
Corporate Center | |||||
Segment Reporting Information | |||||
Net revenues | (251) | (73) | (184) | (324) | (275) |
Income/(loss) before taxes | (575) | SFr (129) | (396) | (704) | (779) |
Bank | |||||
Segment Reporting Information | |||||
Net revenues | 6,230 | 5,676 | 12,015 | 11,111 | |
Income/(loss) before taxes | SFr 1,489 | SFr 1,270 | 2,582 | 2,261 | |
Bank | Operating Segments [Member] | Swiss Universal Bank | |||||
Segment Reporting Information | |||||
Net revenues | 3,013 | 2,855 | |||
Income/(loss) before taxes | 1,276 | 1,204 | |||
Bank | Operating Segments [Member] | International Wealth Management | |||||
Segment Reporting Information | |||||
Net revenues | 2,776 | 2,786 | |||
Income/(loss) before taxes | 885 | 967 | |||
Bank | Operating Segments [Member] | Asia Pacific | |||||
Segment Reporting Information | |||||
Net revenues | 2,089 | 1,767 | |||
Income/(loss) before taxes | 550 | 420 | |||
Bank | Operating Segments [Member] | Global Markets | |||||
Segment Reporting Information | |||||
Net revenues | 3,531 | 3,025 | |||
Income/(loss) before taxes | 921 | 639 | |||
Bank | Operating Segments [Member] | Investment Banking & Capital Markets | |||||
Segment Reporting Information | |||||
Net revenues | 885 | 810 | |||
Income/(loss) before taxes | (176) | (87) | |||
Bank | Adjustments | |||||
Segment Reporting Information | |||||
Net revenues | (279) | (132) | |||
Income/(loss) before taxes | SFr (874) | SFr (882) |
Segment information - Balance s
Segment information - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Segment Reporting Information | |||
Total assets | SFr 828,480 | SFr 832,166 | SFr 787,295 |
Operating Segments | Swiss Universal Bank | |||
Segment Reporting Information | |||
Total assets | 239,966 | 237,733 | 232,729 |
Operating Segments | International Wealth Management | |||
Segment Reporting Information | |||
Total assets | 97,067 | 93,262 | 93,059 |
Operating Segments | Asia Pacific | |||
Segment Reporting Information | |||
Total assets | 101,719 | 102,109 | 107,660 |
Operating Segments | Global Markets | |||
Segment Reporting Information | |||
Total assets | 213,114 | 241,242 | 214,019 |
Operating Segments | Investment Banking & Capital Markets | |||
Segment Reporting Information | |||
Total assets | 26,728 | 24,466 | 17,819 |
Corporate Center | |||
Segment Reporting Information | |||
Total assets | 149,886 | SFr 133,354 | 122,009 |
Bank | |||
Segment Reporting Information | |||
Total assets | 831,489 | 790,459 | |
Bank | Operating Segments | Swiss Universal Bank | |||
Segment Reporting Information | |||
Total assets | 239,966 | 232,729 | |
Bank | Operating Segments | International Wealth Management | |||
Segment Reporting Information | |||
Total assets | 97,067 | 93,059 | |
Bank | Operating Segments | Asia Pacific | |||
Segment Reporting Information | |||
Total assets | 101,719 | 107,660 | |
Bank | Operating Segments | Global Markets | |||
Segment Reporting Information | |||
Total assets | 213,114 | 214,019 | |
Bank | Operating Segments | Investment Banking & Capital Markets | |||
Segment Reporting Information | |||
Total assets | 26,728 | 17,819 | |
Bank | Adjustments | |||
Segment Reporting Information | |||
Total assets | SFr 152,895 | SFr 125,173 |
Net interest income (Details)
Net interest income (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net interest income | |||||
Loans | SFr 1,488 | SFr 1,642 | SFr 1,855 | SFr 3,130 | SFr 3,642 |
Investment securities | 2 | 1 | 3 | 3 | 6 |
Trading assets | 1,566 | 1,665 | 2,246 | 3,231 | 3,746 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 391 | 545 | 779 | 936 | 1,560 |
Other | 142 | 442 | 770 | 584 | 1,517 |
Interest and dividend income | 3,589 | 4,295 | 5,653 | 7,884 | 10,471 |
Deposits | (299) | (561) | (808) | (860) | (1,591) |
Short-term borrowings | (76) | (76) | (114) | (152) | (211) |
Trading liabilities | (717) | (756) | (1,069) | (1,473) | (1,783) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (211) | (294) | (456) | (505) | (938) |
Long-term debt | (657) | (884) | (910) | (1,541) | (1,814) |
Other | (59) | (190) | (295) | (249) | (601) |
Interest expense | (2,019) | (2,761) | (3,652) | (4,780) | (6,938) |
Net interest income | 1,570 | SFr 1,534 | 2,001 | 3,104 | 3,533 |
Bank | |||||
Net interest income | |||||
Loans | 3,113 | 3,646 | |||
Investment securities | 3 | 5 | |||
Trading assets | 3,231 | 3,746 | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 936 | 1,560 | |||
Other | 584 | 1,519 | |||
Interest and dividend income | 3,585 | 5,655 | 7,867 | 10,476 | |
Deposits | (857) | (1,593) | |||
Short-term borrowings | (155) | (218) | |||
Trading liabilities | (1,473) | (1,783) | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (505) | (938) | |||
Long-term debt | (1,522) | (1,788) | |||
Other | (251) | (601) | |||
Interest expense | (2,017) | (3,648) | (4,763) | (6,921) | |
Net interest income | SFr 1,568 | SFr 2,007 | SFr 3,104 | SFr 3,555 |
Commissions and fees (Details)
Commissions and fees (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Commissions and fees | |||||
Commissions and fees | SFr 2,880 | SFr 2,927 | SFr 2,927 | SFr 5,807 | SFr 5,539 |
Lending business | |||||
Commissions and fees | |||||
Commissions and fees | 361 | 436 | 443 | 797 | 839 |
Investment and portfolio management | |||||
Commissions and fees | |||||
Commissions and fees | 752 | 810 | 846 | 1,562 | 1,691 |
Other securities business | |||||
Commissions and fees | |||||
Commissions and fees | 18 | 18 | 16 | 36 | 28 |
Fiduciary business | |||||
Commissions and fees | |||||
Commissions and fees | 770 | 828 | 862 | 1,598 | 1,719 |
Underwriting | |||||
Commissions and fees | |||||
Commissions and fees | 560 | 364 | 514 | 924 | 859 |
Brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 806 | 967 | 734 | 1,773 | 1,427 |
Underwriting and brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 1,366 | 1,331 | 1,248 | 2,697 | 2,286 |
Other services | |||||
Commissions and fees | |||||
Commissions and fees | 383 | SFr 332 | 374 | 715 | 695 |
Bank | |||||
Commissions and fees | |||||
Commissions and fees | SFr 2,896 | SFr 2,904 | 5,816 | 5,483 | |
Bank | Lending business | |||||
Commissions and fees | |||||
Commissions and fees | 786 | 827 | |||
Bank | Investment and portfolio management | |||||
Commissions and fees | |||||
Commissions and fees | 1,508 | 1,612 | |||
Bank | Other securities business | |||||
Commissions and fees | |||||
Commissions and fees | 40 | 46 | |||
Bank | Fiduciary business | |||||
Commissions and fees | |||||
Commissions and fees | 1,548 | 1,658 | |||
Bank | Underwriting | |||||
Commissions and fees | |||||
Commissions and fees | 981 | 861 | |||
Bank | Brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 1,774 | 1,435 | |||
Bank | Underwriting and brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 2,755 | 2,296 | |||
Bank | Other services | |||||
Commissions and fees | |||||
Commissions and fees | SFr 727 | SFr 702 |
Trading revenues (Details)
Trading revenues (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Trading revenues | |||||
Trading revenues | SFr 1,254 | SFr 927 | SFr 182 | SFr 2,181 | SFr 1,022 |
Interest rate products | |||||
Trading revenues | |||||
Trading revenues | 1,374 | (2,248) | (334) | (874) | 96 |
Foreign exchange products | |||||
Trading revenues | |||||
Trading revenues | 539 | 571 | (60) | 1,110 | (275) |
Equity/index-related products | |||||
Trading revenues | |||||
Trading revenues | (375) | 319 | 114 | (56) | 854 |
Credit products | |||||
Trading revenues | |||||
Trading revenues | (682) | 1,899 | 198 | 1,217 | (130) |
Commodity, emission and energy products | |||||
Trading revenues | |||||
Trading revenues | 69 | 28 | 36 | 97 | 84 |
Other trading securities | |||||
Trading revenues | |||||
Trading revenues | 329 | SFr 358 | 228 | 687 | 393 |
Bank | |||||
Trading revenues | |||||
Trading revenues | SFr 1,227 | SFr 231 | 2,105 | 1,087 | |
Bank | Interest rate products | |||||
Trading revenues | |||||
Trading revenues | (921) | 94 | |||
Bank | Foreign exchange products | |||||
Trading revenues | |||||
Trading revenues | 1,113 | (276) | |||
Bank | Equity/index-related products | |||||
Trading revenues | |||||
Trading revenues | (88) | 924 | |||
Bank | Credit products | |||||
Trading revenues | |||||
Trading revenues | 1,217 | (130) | |||
Bank | Commodity, emission and energy products | |||||
Trading revenues | |||||
Trading revenues | 97 | 84 | |||
Bank | Other trading securities | |||||
Trading revenues | |||||
Trading revenues | SFr 687 | SFr 391 |
Other revenues (Details)
Other revenues (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Other Revenues | |||||
Loans held-for-sale | SFr 5 | SFr (21) | SFr (7) | SFr (16) | SFr (16) |
Long-lived assets held-for-sale | 6 | 4 | 74 | 10 | 103 |
Equity method investments | 23 | 36 | 54 | 59 | 110 |
Other investments | 223 | 228 | 121 | 451 | 223 |
Other | 233 | 141 | 229 | 374 | 454 |
Other revenues | 490 | SFr 388 | 471 | 878 | 874 |
Bank | |||||
Other Revenues | |||||
Loans held-for-sale | (16) | (16) | |||
Long-lived assets held-for-sale | 10 | 103 | |||
Equity method investments | 58 | 109 | |||
Other investments | 451 | 222 | |||
Other | 487 | 568 | |||
Other revenues | SFr 539 | SFr 534 | SFr 990 | SFr 986 |
Provision for credit losses (De
Provision for credit losses (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Provision for credit losses | |||||
Loans held at amortized cost | SFr 264 | SFr 427 | SFr 15 | SFr 691 | SFr 90 |
Other financial assets held at amortized cost | 21 | 15 | 9 | 36 | 12 |
Off-balance sheet credit exposures | 11 | 126 | 1 | 137 | 4 |
Provision for credit losses | 296 | SFr 568 | 25 | 864 | 106 |
Bank | |||||
Provision for credit losses | |||||
Loans held at amortized cost | 691 | 90 | |||
Other financial assets held at amortized cost | 32 | 11 | |||
Off-balance sheet credit exposures | 137 | 5 | |||
Provision for credit losses | SFr 292 | SFr 25 | SFr 860 | SFr 106 |
Compensation and benefits (Deta
Compensation and benefits (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Compensation and benefits | |||||
Salaries and variable compensation | SFr 2,234 | SFr 1,909 | SFr 2,161 | SFr 4,143 | SFr 4,331 |
Social security | 172 | 168 | 187 | 340 | 346 |
Other | 188 | 239 | 197 | 427 | 386 |
Compensation and benefits | 2,594 | 2,316 | 2,545 | 4,910 | 5,063 |
Defined Benefit Plan, Service Cost | 55 | 54 | 68 | 109 | 135 |
Defined benefit and defined contribution | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | 113 | SFr 150 | 112 | 263 | 220 |
Bank | |||||
Compensation and benefits | |||||
Salaries and variable compensation | 3,711 | 3,900 | |||
Social security | 293 | 301 | |||
Other | 416 | 408 | |||
Compensation and benefits | SFr 2,363 | SFr 2,305 | 4,420 | 4,609 | |
Bank | Defined benefit and defined contribution | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | 272 | 256 | |||
Bank | International | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | SFr 8 | SFr 8 |
General and administrative ex_3
General and administrative expenses (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
General and Administrative Expenses | |||||
Occupancy expenses | SFr 237 | SFr 228 | SFr 247 | SFr 465 | SFr 529 |
IT, machinery, etc. | 357 | 350 | 326 | 707 | 649 |
Provisions and losses | 133 | 72 | 78 | 205 | 136 |
Travel and entertainment | 28 | 68 | 88 | 96 | 166 |
Professional services | 377 | 375 | 407 | 752 | 810 |
Amortization and impairment of other intangible assets | 1 | 2 | 1 | 3 | 3 |
Other | 307 | 251 | 248 | 558 | 515 |
General and administrative expenses | 1,440 | 1,346 | 1,395 | 2,786 | 2,808 |
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | (40) | SFr (40) | (52) | (80) | (86) |
Bank | |||||
General and Administrative Expenses | |||||
Occupancy expenses | 415 | 478 | |||
IT, machinery, etc. | 561 | 515 | |||
Provisions and losses | 203 | 136 | |||
Travel and entertainment | 85 | 151 | |||
Professional services | 1,481 | 1,497 | |||
Amortization and impairment of other intangible assets | 3 | 3 | |||
Other | 747 | 728 | |||
General and administrative expenses | SFr 1,773 | SFr 1,763 | 3,495 | 3,508 | |
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | SFr 1 | SFr 5 |
Restructuring provision - Rollf
Restructuring provision - Rollforward (Details 2) | 6 Months Ended |
Jun. 30, 2020 | |
Bank | Stock compensation plan | Share awards | |
Restructuring provision | |
Vesting period | 3 years |
Earnings per share (Details)
Earnings per share (Details) - CHF (SFr) SFr / shares in Units, shares in Millions, SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net income/(loss) attributable to shareholders | |||||
Net income/(loss) attributable to shareholders | SFr 1,162 | SFr 1,314 | SFr 937 | SFr 2,476 | SFr 1,686 |
Net income attributable to shareholders for basic earnings per share | 1,162 | 1,314 | 937 | 2,476 | 1,686 |
Net income/(loss) attributable to shareholders for diluted earnings per share | SFr 1,162 | SFr 1,314 | SFr 937 | SFr 2,476 | SFr 1,686 |
Weighted-average shares outstanding | |||||
Weighted-average shares outstanding for basic earnings per share available for common shares (in shares) | 2,473.6 | 2,465.9 | 2,546.1 | 2,469.7 | 2,559.6 |
Dilutive share options and warrants (in shares) | 2.6 | 1.6 | 4 | 2.1 | 3.6 |
Dilutive share awards (in shares) | 35.2 | 60.1 | 46.4 | 47.7 | 45.9 |
Weighted-average shares outstanding for diluted earnings per share available for common shares (in shares) | 2,511.4 | 2,527.6 | 2,596.5 | 2,519.5 | 2,609.1 |
Basic earnings per share available for common shares (CHF) | |||||
Basic earnings/(loss) per share (in CHF per share) | SFr 0.47 | SFr 0.53 | SFr 0.37 | SFr 1 | SFr 0.66 |
Diluted earnings per share available for common shares (CHF) | |||||
Diluted earnings/(loss) per share (in CHF per share) | SFr 0.46 | SFr 0.52 | SFr 0.36 | SFr 0.98 | SFr 0.65 |
Weighted-average potential dilutive common shares | 5.3 | 4.2 | 6.2 | 4.8 | 6.5 |
Revenue from contracts with c_3
Revenue from contracts with customers (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 2,522 | SFr 2,495 | SFr 2,483 | SFr 5,017 | SFr 4,701 |
Other securities business [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 18 | 18 | 16 | 36 | 28 |
Underwriting [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 560 | 364 | 514 | 924 | 859 |
Brokerage [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 805 | 966 | 732 | 1,771 | 1,426 |
Investment Advice [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 752 | 810 | 846 | 1,562 | 1,691 |
Service, Other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 387 | SFr 337 | SFr 375 | 724 | 697 |
Bank | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 5,075 | 4,697 | |||
Bank | Other securities business [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 40 | 46 | |||
Bank | Underwriting [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 981 | 861 | |||
Bank | Brokerage [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 1,772 | 1,433 | |||
Bank | Investment Advice [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 1,508 | 1,612 | |||
Bank | Service, Other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 774 | SFr 745 |
Revenue from contracts with c_4
Revenue from contracts with customers (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | ||||
Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | |
Contract balances [Line Items] | |||||
Accounts Receivable, Net | SFr 952 | SFr 841 | SFr 880 | ||
Contract with Customer, Liability | 53 | 58 | 53 | ||
Contract with Customer, Liability, Revenue Recognized | 12 | SFr 11 | SFr 14 | ||
Bank | |||||
Contract balances [Line Items] | |||||
Accounts Receivable, Net | 983 | 886 | 859 | ||
Contract with Customer, Liability | SFr 53 | 53 | 58 | ||
Contract with Customer, Liability, Revenue Recognized | SFr 14 | SFr 12 | SFr 11 |
Securities borrowed, lent and s
Securities borrowed, lent and subject to repurchase agreements (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Securities borrowed or purchased under agreements to resell | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions, total | SFr 104,890 | SFr 107,876 | SFr 106,997 |
Securities lent or sold under agreements to repurchase | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions, total | 30,589 | SFr 45,451 | 27,533 |
Bank | |||
Securities borrowed or purchased under agreements to resell | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions, total | 104,890 | 106,997 | |
Securities lent or sold under agreements to repurchase | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions, total | SFr 30,683 | SFr 27,641 |
Trading assets and liabilitie_2
Trading assets and liabilities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Schedule of Trading Assets and Liabilities | |||
Trading assets | SFr 156,730 | SFr 150,798 | SFr 153,797 |
Trading liabilities | 44,040 | 44,877 | 38,186 |
Debt securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 70,962 | 68,618 | 66,994 |
Equity securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 55,232 | 47,574 | 64,542 |
Derivative instruments | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 25,834 | 29,458 | 17,731 |
Trading liabilities | 15,434 | 20,638 | 13,472 |
Other trading securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 4,702 | 5,148 | 4,530 |
Short positions | |||
Schedule of Trading Assets and Liabilities | |||
Trading liabilities | 28,606 | SFr 24,239 | 24,714 |
Bank | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 156,877 | 153,895 | |
Trading liabilities | 44,040 | 38,186 | |
Bank | Debt securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 71,072 | 67,030 | |
Bank | Equity securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 55,269 | 64,604 | |
Bank | Derivative instruments | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 25,834 | 17,730 | |
Trading liabilities | 15,434 | 13,472 | |
Bank | Other trading securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 4,702 | 4,531 | |
Bank | Short positions | |||
Schedule of Trading Assets and Liabilities | |||
Trading liabilities | SFr 28,606 | SFr 24,714 |
Trading assets and liabilitie_3
Trading assets and liabilities - Cash collateral - netted (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Cash collateral - netted | |||
Cash collateral paid | SFr 26,076 | SFr 29,272 | SFr 20,695 |
Cash collateral received | 17,958 | 21,217 | 14,633 |
Cash collateral - not netted | |||
Cash collateral paid | 7,488 | 9,526 | 4,570 |
Cash collateral received | 7,184 | SFr 8,260 | 7,457 |
Bank | |||
Cash collateral - netted | |||
Cash collateral paid | 26,163 | 20,739 | |
Cash collateral received | 17,958 | 14,633 | |
Cash collateral - not netted | |||
Cash collateral paid | 7,488 | 4,570 | |
Cash collateral received | SFr 7,184 | SFr 7,457 |
Investment securities (Details)
Investment securities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Investment securities disclosures | |||
Debt securities held-to-maturity, Net carrying value | SFr 95 | SFr 96 | |
Debt securities held-to-maturity | SFr 0 | ||
Available-for-sale Securities, Debt Securities | 489 | 1,068 | 1,006 |
Total investment securities | 584 | SFr 1,164 | 1,006 |
Bank | |||
Investment securities disclosures | |||
Debt securities held-to-maturity, Net carrying value | 95 | ||
Debt securities held-to-maturity | 0 | ||
Available-for-sale Securities, Debt Securities | 487 | 1,004 | |
Total investment securities | SFr 582 | SFr 1,004 |
Investment securities by type (
Investment securities by type (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Held-to-maturity securities | |||
Debt securities held-to-maturity | SFr 0 | SFr 0 | |
Debt securities held-to-maturity, before allowance for credit losses | 95 | ||
Gross unrealized gains | 0 | 0 | |
Gross unrealized losses | 0 | 0 | |
Fair value | 95 | 0 | |
Available-for-sale securities | |||
Amortized cost, Debt Securities | 972 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 483 | ||
Gross unrealized gains, Debt securities | 6 | 36 | |
Gross unrealized losses, Debt securities | 0 | 2 | |
Fair value, Debt securities | 489 | SFr 1,068 | 1,006 |
Debt securities issued by the Swiss federal, cantonal or local government entities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 2 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 2 | ||
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 2 | 2 | |
Debt securities issued by foreign governments | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 163 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 0 | ||
Gross unrealized gains, Debt securities | 0 | 8 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 0 | 171 | |
Corporate debt securities | |||
Held-to-maturity securities | |||
Debt securities held-to-maturity | 0 | ||
Debt securities held-to-maturity, before allowance for credit losses | 95 | ||
Gross unrealized gains | 0 | 0 | |
Gross unrealized losses | 0 | 0 | |
Fair value | 95 | 0 | |
Available-for-sale securities | |||
Amortized cost, Debt Securities | 807 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 481 | ||
Gross unrealized gains, Debt securities | 6 | 28 | |
Gross unrealized losses, Debt securities | 0 | 2 | |
Fair value, Debt securities | 487 | 833 | |
Bank | |||
Held-to-maturity securities | |||
Debt securities held-to-maturity | 0 | 0 | |
Debt securities held-to-maturity, before allowance for credit losses | 95 | ||
Gross unrealized gains | 0 | 0 | |
Gross unrealized losses | 0 | 0 | |
Fair value | 95 | 0 | |
Available-for-sale securities | |||
Amortized cost, Debt Securities | 970 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 481 | ||
Gross unrealized gains, Debt securities | 6 | 36 | |
Gross unrealized losses, Debt securities | 0 | 2 | |
Fair value, Debt securities | 487 | 1,004 | |
Bank | Debt securities issued by foreign governments | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 163 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 0 | ||
Gross unrealized gains, Debt securities | 0 | 8 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 0 | 171 | |
Bank | Corporate debt securities | |||
Held-to-maturity securities | |||
Debt securities held-to-maturity | 0 | ||
Debt securities held-to-maturity, before allowance for credit losses | 95 | ||
Gross unrealized gains | 0 | 0 | |
Gross unrealized losses | 0 | 0 | |
Fair value | 95 | 0 | |
Available-for-sale securities | |||
Amortized cost, Debt Securities | 807 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 481 | ||
Gross unrealized gains, Debt securities | 6 | 28 | |
Gross unrealized losses, Debt securities | 0 | 2 | |
Fair value, Debt securities | SFr 487 | SFr 833 |
Investment securities - Unreali
Investment securities - Unrealized losses/fair value (Details 3) SFr in Millions | Dec. 31, 2019CHF (SFr) |
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | |
Fair value, less than 12 months | SFr 204 |
Fair value, 12 months or more | 0 |
Fair value, total | 204 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | |
Gross unrealized losses, less than 12 months | 2 |
Gross unrealized losses, 12 months or more | 0 |
Gross unrealized losses, total | 2 |
Corporate debt securities | |
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | |
Fair value, less than 12 months | 204 |
Fair value, 12 months or more | 0 |
Fair value, total | 204 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | |
Gross unrealized losses, less than 12 months | 2 |
Gross unrealized losses, 12 months or more | 0 |
Gross unrealized losses, total | 2 |
Bank | |
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | |
Fair value, less than 12 months | 204 |
Fair value, 12 months or more | 0 |
Fair value, total | 204 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | |
Gross unrealized losses, less than 12 months | 2 |
Gross unrealized losses, 12 months or more | 0 |
Gross unrealized losses, total | 2 |
Bank | Corporate debt securities | |
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | |
Fair value, less than 12 months | 204 |
Fair value, 12 months or more | 0 |
Fair value, total | 204 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | |
Gross unrealized losses, less than 12 months | 2 |
Gross unrealized losses, 12 months or more | 0 |
Gross unrealized losses, total | SFr 2 |
Investment securities - Proceed
Investment securities - Proceeds/realized gains/losses (Details 4) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | SFr 626 | SFr 4 |
Realized gains | 42 | 0 |
Bank | ||
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | 626 | 4 |
Realized gains | SFr 42 | SFr 0 |
Investment securities - Maturit
Investment securities - Maturities of amortized costs/FV/Avg yield (Details 5) SFr in Millions | Jun. 30, 2020CHF (SFr) |
Schedule of Held-to-maturity Securities [Line Items] | |
Due within 1 year, amortized cost | SFr 95 |
Debt securities held-to-maturity, amortized cost | 95 |
Due within 1 year, fair value | 95 |
Debt securities held-to-maturity, fair value | SFr 95 |
Due within 1 year, average yield (as a percent) | 0.51% |
Total, average yield (as a percent) | 0.51% |
Bank | |
Schedule of Held-to-maturity Securities [Line Items] | |
Due within 1 year, amortized cost | SFr 95 |
Debt securities held-to-maturity, amortized cost | 95 |
Due within 1 year, fair value | 95 |
Debt securities held-to-maturity, fair value | SFr 95 |
Due within 1 year, average yield (as a percent) | 0.51% |
Total, average yield (as a percent) | 0.51% |
Investment securities - Matur_2
Investment securities - Maturities of amortized costs/FV/Avg yield (Details 6) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | |||
Due within 1 year, amortized cost | SFr 151 | ||
Due from 1 to 5 years, amortized cost | 2 | ||
Due from 5 to 10 years, amortized cost | 330 | ||
Total, amortized cost | SFr 972 | ||
Due within 1 year, fair value | 151 | ||
Due from 1 to 5 years, fair value | 2 | ||
Due from 5 to 10 years, fair value | 336 | ||
Total, fair value | SFr 489 | SFr 1,068 | 1,006 |
Due within 1 year, average yield (as a percent) | 0.39% | ||
Due from 1 to 5 years, average yield (as a percent) | 3.70% | ||
Due from 5 to 10 years, average yield (as a percent) | 0.08% | ||
Total, average yield (as a percent) | 0.20% | ||
Bank | |||
Debt Securities, Available-for-sale [Line Items] | |||
Due within 1 year, amortized cost | SFr 151 | ||
Due from 5 to 10 years, amortized cost | 330 | ||
Total, amortized cost | 970 | ||
Due within 1 year, fair value | 151 | ||
Due from 5 to 10 years, fair value | 336 | ||
Total, fair value | SFr 487 | SFr 1,004 | |
Due within 1 year, average yield (as a percent) | 0.39% | ||
Due from 5 to 10 years, average yield (as a percent) | 0.08% | ||
Total, average yield (as a percent) | 0.18% |
Other investments (Details)
Other investments (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Other investments | ||||||
Other investments | SFr 5,848 | SFr 5,858 | SFr 5,848 | SFr 5,666 | ||
Accumulated depreciation, real estate held for investment | 33 | 34 | 33 | 34 | ||
Impairment charges | 1 | 0 | SFr 0 | 1 | SFr 0 | |
Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 16 | 14 | 16 | 24 | ||
Equity method investments | ||||||
Other investments | ||||||
Other investments | 2,874 | 2,994 | 2,874 | 2,367 | ||
Equity securities (without a readily determinable fair value) | ||||||
Other investments | ||||||
Other investments | 1,823 | 1,689 | 1,823 | 2,148 | ||
of which at net asset value | ||||||
Other investments | ||||||
Other investments | 357 | 344 | 357 | 409 | ||
of which at measurement alternative | ||||||
Other investments | ||||||
Other investments | 387 | 243 | 387 | 274 | ||
of which at fair value | ||||||
Other investments | ||||||
Other investments | 1,047 | 1,070 | 1,047 | 1,434 | ||
of which at cost less impairment | ||||||
Other investments | ||||||
Other investments | 32 | 32 | 32 | 31 | ||
Real estate held for investment | ||||||
Other investments | ||||||
Other investments | 84 | 89 | 84 | 99 | ||
Real estate held for investment | Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 11 | 10 | 11 | 10 | ||
Life finance instruments | ||||||
Other investments | ||||||
Other investments | 1,067 | SFr 1,086 | 1,067 | 1,052 | ||
Bank | ||||||
Other investments | ||||||
Other investments | 5,814 | 5,814 | 5,634 | |||
Accumulated depreciation, real estate held for investment | 29 | 29 | 29 | |||
Impairment charges | 1 | SFr 0 | ||||
Bank | Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 16 | 16 | 24 | |||
Bank | Equity method investments | ||||||
Other investments | ||||||
Other investments | 2,868 | 2,868 | 2,361 | |||
Bank | Equity securities (without a readily determinable fair value) | ||||||
Other investments | ||||||
Other investments | 1,819 | 1,819 | 2,145 | |||
Bank | of which at net asset value | ||||||
Other investments | ||||||
Other investments | 355 | 355 | 407 | |||
Bank | of which at measurement alternative | ||||||
Other investments | ||||||
Other investments | 385 | 385 | 272 | |||
Bank | of which at fair value | ||||||
Other investments | ||||||
Other investments | 1,047 | 1,047 | 1,434 | |||
Bank | of which at cost less impairment | ||||||
Other investments | ||||||
Other investments | 32 | 32 | 32 | |||
Bank | Real estate held for investment | ||||||
Other investments | ||||||
Other investments | 60 | 60 | 76 | |||
Bank | Real estate held for investment | Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 11 | 11 | 10 | |||
Bank | Life finance instruments | ||||||
Other investments | ||||||
Other investments | SFr 1,067 | SFr 1,067 | SFr 1,052 |
Other investments (Details 2)
Other investments (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Other investments | |||||
Impairments and downward adjustments | SFr (11) | SFr (11) | |||
Impairments and downward adjustments, Annual Amount | (3) | SFr 0 | |||
Upward adjustments | 148 | 148 | |||
Upward adjustments, Annual Amount | 137 | 11 | |||
Other Revenue, Other Investments | 223 | SFr 228 | SFr 121 | 451 | 223 |
Pfandbriefbank [Member] | |||||
Other investments | |||||
Other Revenue, Other Investments | SFr 134 | ||||
Allfunds Group [Member] | Related Party Transaction, Combination of fund platform InvestLab and Allfunds Group [Member] | |||||
Other investments | |||||
Equity interest in % | 18.00% | ||||
Bank | |||||
Other investments | |||||
Impairments and downward adjustments | SFr (11) | (11) | |||
Impairments and downward adjustments, Annual Amount | (3) | 0 | |||
Upward adjustments | SFr 148 | 148 | |||
Upward adjustments, Annual Amount | 137 | 11 | |||
Other Revenue, Other Investments | 451 | SFr 222 | |||
Bank | Pfandbriefbank [Member] | |||||
Other investments | |||||
Other Revenue, Other Investments | SFr 134 | ||||
Bank | Allfunds Group [Member] | Related Party Transaction, Combination of fund platform InvestLab and Allfunds Group [Member] | |||||
Other investments | |||||
Equity interest in % | 18.00% |
Loans, allowance for loan los_3
Loans, allowance for loan losses and credit quality (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Loans | ||||||
Gross loans | SFr 296,093 | SFr 304,217 | SFr 297,841 | |||
of which held at amortized cost | 282,862 | 289,944 | 285,179 | |||
of which held at fair value | 13,231 | 14,273 | 12,662 | |||
Net (unearned income)/deferred expenses | (112) | (112) | (116) | |||
Allowance for credit losses | (1,669) | (1,431) | (1,049) | |||
Allowance for loan losses | (946) | SFr (882) | SFr (966) | SFr (902) | ||
Net loans | 294,312 | 302,674 | 296,779 | |||
Non-performing loans | 1,994 | 1,555 | 1,250 | |||
Non-interest-earning loans | 280 | 248 | 260 | |||
Non-accrual loans | 2,274 | 1,803 | 1,510 | |||
Restructured loans | 226 | 196 | 350 | |||
Potential problem loans | 791 | 519 | 266 | |||
Total other impaired loans | 1,017 | 715 | 616 | |||
Gross impaired loans | 3,291 | 2,518 | 2,126 | |||
Consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process | 213 | 208 | 209 | |||
Switzerland | ||||||
Loans | ||||||
Gross loans | 166,707 | 165,944 | 163,133 | |||
Foreign | ||||||
Loans | ||||||
Gross loans | 129,386 | 138,273 | 134,708 | |||
Corporate and institutional | ||||||
Loans | ||||||
Gross loans | 132,110 | 138,488 | 127,344 | |||
of which held at amortized cost | 118,936 | 114,712 | ||||
Allowance for credit losses | (1,270) | (1,082) | (808) | |||
Allowance for loan losses | (711) | (785) | (715) | |||
Non-accrual loans | 1,313 | 883 | ||||
Corporate and institutional | Real estate | ||||||
Loans | ||||||
Gross loans | 29,095 | 29,706 | 29,220 | |||
of which held at amortized cost | 28,349 | 28,323 | ||||
Non-accrual loans | 270 | 155 | ||||
Corporate and institutional | Commercial and industrial loans | ||||||
Loans | ||||||
Gross loans | 79,341 | 84,035 | 73,495 | |||
of which held at amortized cost | 74,243 | 69,720 | ||||
Non-accrual loans | 978 | 682 | ||||
Corporate and institutional | Financial institutions | ||||||
Loans | ||||||
Gross loans | 20,046 | 20,948 | 20,367 | |||
of which held at amortized cost | 15,143 | 15,436 | ||||
Non-accrual loans | 65 | 46 | ||||
Corporate and institutional | Governments and public institutions | ||||||
Loans | ||||||
Gross loans | 3,628 | 3,799 | 4,262 | |||
of which held at amortized cost | 1,201 | 1,233 | ||||
Consumer | ||||||
Loans | ||||||
Gross loans | 163,983 | 165,729 | 170,497 | |||
of which held at amortized cost | 163,926 | 170,467 | ||||
Allowance for credit losses | (399) | (349) | (241) | |||
Allowance for loan losses | (171) | SFr (181) | (187) | |||
Non-accrual loans | 961 | 627 | ||||
Consumer | Mortgages | ||||||
Loans | ||||||
Gross loans | 110,022 | 109,566 | 109,671 | |||
of which held at amortized cost | 110,022 | 109,671 | ||||
Non-accrual loans | 380 | 337 | ||||
Consumer | Loans collateralized by securities | ||||||
Loans | ||||||
Gross loans | 48,984 | 50,877 | 56,425 | |||
of which held at amortized cost | 48,984 | 56,425 | ||||
Non-accrual loans | 377 | 122 | ||||
Consumer | Consumer finance | ||||||
Loans | ||||||
Gross loans | 4,977 | SFr 5,286 | 4,401 | |||
of which held at amortized cost | 4,920 | 4,371 | ||||
Non-accrual loans | 204 | 168 | ||||
Bank | ||||||
Loans | ||||||
Gross loans | 303,707 | 305,086 | ||||
of which held at amortized cost | 290,476 | 292,425 | ||||
of which held at fair value | 13,231 | 12,661 | ||||
Net (unearned income)/deferred expenses | (112) | (116) | ||||
Allowance for credit losses | (1,668) | (1,048) | ||||
Allowance for loan losses | (945) | (881) | (901) | |||
Net loans | 301,927 | 304,025 | ||||
Non-performing loans | 1,994 | 1,250 | ||||
Non-interest-earning loans | 268 | 248 | ||||
Non-accrual loans | 2,262 | 1,498 | ||||
Restructured loans | 226 | 350 | ||||
Potential problem loans | 791 | 266 | ||||
Total other impaired loans | 1,017 | 616 | ||||
Gross impaired loans | 3,279 | 2,114 | ||||
Consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process | 213 | 208 | ||||
Bank | Switzerland | ||||||
Loans | ||||||
Gross loans | 173,727 | 169,671 | ||||
Bank | Foreign | ||||||
Loans | ||||||
Gross loans | 129,980 | 135,415 | ||||
Bank | Corporate and institutional | ||||||
Loans | ||||||
Gross loans | 139,724 | 134,589 | ||||
of which held at amortized cost | 118,924 | 121,958 | ||||
Allowance for credit losses | (1,269) | (807) | ||||
Allowance for loan losses | (710) | (714) | ||||
Non-accrual loans | 1,301 | 871 | ||||
Bank | Corporate and institutional | Real estate | ||||||
Loans | ||||||
Gross loans | 29,095 | 29,220 | ||||
of which held at amortized cost | 28,349 | 28,323 | ||||
Non-accrual loans | 270 | 155 | ||||
Bank | Corporate and institutional | Commercial and industrial loans | ||||||
Loans | ||||||
Gross loans | 79,834 | 74,094 | ||||
of which held at amortized cost | 74,231 | 70,321 | ||||
Non-accrual loans | 966 | 670 | ||||
Bank | Corporate and institutional | Financial institutions | ||||||
Loans | ||||||
Gross loans | 27,167 | 27,013 | ||||
of which held at amortized cost | 15,143 | 22,081 | ||||
Non-accrual loans | 65 | 46 | ||||
Bank | Corporate and institutional | Governments and public institutions | ||||||
Loans | ||||||
Gross loans | 3,628 | 4,262 | ||||
of which held at amortized cost | 1,201 | 1,233 | ||||
Bank | Consumer | ||||||
Loans | ||||||
Gross loans | 163,983 | 170,497 | ||||
of which held at amortized cost | 163,926 | 170,467 | ||||
Allowance for credit losses | (399) | (241) | ||||
Allowance for loan losses | SFr (171) | SFr (187) | ||||
Non-accrual loans | 961 | 627 | ||||
Bank | Consumer | Mortgages | ||||||
Loans | ||||||
Gross loans | 110,022 | 109,671 | ||||
of which held at amortized cost | 110,022 | 109,671 | ||||
Non-accrual loans | 380 | 337 | ||||
Bank | Consumer | Loans collateralized by securities | ||||||
Loans | ||||||
Gross loans | 48,984 | 56,425 | ||||
of which held at amortized cost | 48,984 | 56,425 | ||||
Non-accrual loans | 377 | 122 | ||||
Bank | Consumer | Consumer finance | ||||||
Loans | ||||||
Gross loans | 4,977 | 4,401 | ||||
of which held at amortized cost | 4,920 | 4,371 | ||||
Non-accrual loans | SFr 204 | SFr 168 |
CECL - Financial instruments _3
CECL - Financial instruments measured at amortized cost and credit losses (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | |||
Cash and due from banks, Amortized cost basis | SFr 131,709 | ||
Cash and due from banks, Allowance for credit losses | (7) | ||
Cash and due from banks, Net carrying value | 131,702 | ||
Interest-bearing deposits with banks, Amortized cost basis | 1,191 | ||
Interest-bearing deposits with banks, Allowance for credit losses | (6) | ||
Interest-bearing deposits with banks, Net carrying value | 1,185 | ||
Securities purchased under resale agreements and securities borrowing transactions, Amortized cost basis | 26,442 | ||
Securities purchased under resale agreements and securities borrowing transactions, Allowance for credit losses | 0 | ||
Securities purchased under resale agreements and securities borrowing transactions, Net carrying value | 26,442 | ||
Debt securities held-to-maturity, Amortized cost basis | 95 | ||
Debt securities held-to-maturity, Allowance for credit losses | 0 | SFr 0 | |
Debt securities held-to-maturity, Net carrying value | 95 | SFr 96 | |
Loans, Amortized cost basis | 282,750 | ||
Allowance for credit losses | (1,669) | SFr (1,431) | (1,049) |
Loans, Net carrying value | 281,081 | ||
Brokerage receivables, Amortized cost basis | 44,287 | ||
Brokerage receivables, Allowance for credit losses | 0 | ||
Brokerage receivables, Net carrying value | 44,287 | ||
Other assets, Amortized cost basis | 14,981 | ||
Other assets, Allowance for credit losses | (57) | ||
Other assets, Net carrying value | 14,924 | ||
Total, Amortized cost basis | 501,455 | ||
Total, Allowance for credit losses | (1,739) | ||
Total, Net carrying value | 499,716 | ||
Bank | |||
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | |||
Cash and due from banks, Amortized cost basis | 130,927 | ||
Cash and due from banks, Allowance for credit losses | (3) | ||
Cash and due from banks, Net carrying value | 130,924 | ||
Interest-bearing deposits with banks, Amortized cost basis | 1,182 | ||
Interest-bearing deposits with banks, Allowance for credit losses | (6) | ||
Interest-bearing deposits with banks, Net carrying value | 1,176 | ||
Securities purchased under resale agreements and securities borrowing transactions, Amortized cost basis | 26,442 | ||
Securities purchased under resale agreements and securities borrowing transactions, Allowance for credit losses | 0 | ||
Securities purchased under resale agreements and securities borrowing transactions, Net carrying value | 26,442 | ||
Debt securities held-to-maturity, Amortized cost basis | 95 | ||
Debt securities held-to-maturity, Allowance for credit losses | 0 | 0 | |
Debt securities held-to-maturity, Net carrying value | 95 | ||
Loans, Amortized cost basis | 290,364 | ||
Allowance for credit losses | (1,668) | SFr (1,048) | |
Loans, Net carrying value | 288,696 | ||
Brokerage receivables, Amortized cost basis | 44,289 | ||
Brokerage receivables, Allowance for credit losses | 0 | ||
Brokerage receivables, Net carrying value | 44,289 | ||
Other assets, Amortized cost basis | 15,112 | ||
Other assets, Allowance for credit losses | (54) | ||
Other assets, Net carrying value | 15,058 | ||
Total, Amortized cost basis | 508,411 | ||
Total, Allowance for credit losses | (1,731) | ||
Total, Net carrying value | SFr 506,680 |
CECL - Financial instruments _4
CECL - Financial instruments measured at amortized cost and credit losses (Details 1) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | ||
Collateral coverage ratio, Recovery Management International | 136.00% | 116.00% |
Collateral coverage ratio, Recovery Management Switzerland International Clients | 85.00% | 88.00% |
Collateral coverage ratio, Recovery Management Switzerland Domestic Clients | 90.00% | 90.00% |
Accrued interest excluded from amortized cost base of total Financial assets held-at-amortized cost, before allowance of credit losses | SFr 490 | |
Financial Assets, Held-to-Maturity, Cost Practical Expedient, Excluded Accrued Interest [true false] | true | |
Allowance for credit losses on accrued interest excluded from amortized cost base of total Financial assets held at amortized cost | SFr 0 | |
Accrued interest excluded from amortized cost base of total Interest-bearing deposits with banks | SFr 2 | |
Interest Bearing Deposits Banks, Practical Expedient, Excluded Accrued Interest [true false] | true | |
Accrued interest excluded from amortized cost base of total Loans held at amortized cost | SFr 453 | |
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false] | true | |
Accrued interest excluded from amortized cost base of total Brokerage receivables | SFr 35 | |
Brokerage receivables, Practical Expedient, Excluded Accrued Interest [true false] | true | |
Financing Receivables,Accrued Interest on Nonaccrual Loans Included | SFr 92 | |
Bank | ||
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | ||
Accrued interest excluded from amortized cost base of total Financial assets held-at-amortized cost, before allowance of credit losses | SFr 490 | |
Financial Assets, Held-to-Maturity, Cost Practical Expedient, Excluded Accrued Interest [true false] | true | |
Allowance for credit losses on accrued interest excluded from amortized cost base of total Financial assets held at amortized cost | SFr 0 | |
Accrued interest excluded from amortized cost base of total Interest-bearing deposits with banks | SFr 2 | |
Interest Bearing Deposits Banks, Practical Expedient, Excluded Accrued Interest [true false] | true | |
Accrued interest excluded from amortized cost base of total Loans held at amortized cost | SFr 453 | |
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false] | true | |
Accrued interest excluded from amortized cost base of total Brokerage receivables | SFr 35 | |
Brokerage receivables, Practical Expedient, Excluded Accrued Interest [true false] | true | |
Financing Receivables,Accrued Interest on Nonaccrual Loans Included | SFr 91 |
CECL (Details 2)
CECL (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | SFr 1,431 | SFr 1,049 | SFr 1,049 | ||
Allowance for loan losses, Beginning Balance | 946 | SFr 966 | 946 | SFr 902 | |
Current-period provision for expected credit losses | 280 | 436 | 716 | ||
of which provisions for interest | 16 | 9 | 25 | ||
Net movements recognized in statements of operations | 15 | 90 | |||
Gross write-offs | (36) | (47) | (112) | (83) | (141) |
Recoveries | 3 | 4 | 12 | 7 | 15 |
Net write-offs | (33) | (43) | (76) | ||
Net write-offs, loans | (100) | (126) | |||
Provisions for interest | 10 | 21 | |||
Foreign currency translation impact and other adjustments, net | (9) | (11) | (20) | ||
Foreign currency translation impact and other adjustments, loans, net | (9) | (5) | |||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,669 | 1,431 | 1,669 | ||
Allowance for loan losses, Ending Balance | 882 | 882 | |||
of which individually evaluated for impairment | 899 | 777 | 576 | 899 | 576 |
of which collectively evaluated for impairment | 770 | 654 | 306 | 770 | 306 |
Loans held at amortized cost | |||||
Purchases | 664 | 685 | 472 | 1,349 | 977 |
Reclassifications from loans held-for-sale | 4 | 0 | 10 | 4 | 11 |
Reclassifications to loans held-for-sale | 528 | 460 | 555 | 988 | 1,748 |
Sales | 558 | 422 | 491 | 980 | 1,606 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Current-period provision for expected credit losses | 103 | ||||
Corporate and institutional | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 1,082 | 808 | 808 | ||
Allowance for loan losses, Beginning Balance | 785 | 715 | |||
Current-period provision for expected credit losses | 218 | 315 | 533 | ||
of which provisions for interest | 0 | 4 | 4 | ||
Net movements recognized in statements of operations | 5 | 68 | |||
Gross write-offs | (24) | (35) | (87) | (59) | (93) |
Recoveries | 1 | 1 | 10 | 2 | 12 |
Net write-offs | (23) | (34) | (57) | ||
Net write-offs, loans | (77) | (81) | |||
Provisions for interest | 7 | 16 | |||
Foreign currency translation impact and other adjustments, net | (7) | (7) | (14) | ||
Foreign currency translation impact and other adjustments, loans, net | (9) | (7) | |||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,270 | 1,082 | 1,270 | ||
Allowance for loan losses, Ending Balance | 711 | 711 | |||
of which individually evaluated for impairment | 586 | 540 | 446 | 586 | 446 |
of which collectively evaluated for impairment | 684 | 542 | 265 | 684 | 265 |
Loans held at amortized cost | |||||
Purchases | 643 | 685 | 472 | 1,328 | 977 |
Reclassifications from loans held-for-sale | 4 | 0 | 10 | 4 | 11 |
Reclassifications to loans held-for-sale | 528 | 460 | 555 | 988 | 1,748 |
Sales | 558 | 422 | 491 | 980 | 1,606 |
Corporate and institutional | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Current-period provision for expected credit losses | 48 | ||||
Consumer | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 349 | 241 | 241 | ||
Allowance for loan losses, Beginning Balance | 181 | 187 | |||
Current-period provision for expected credit losses | 62 | 121 | 183 | ||
of which provisions for interest | 16 | 5 | 21 | ||
Net movements recognized in statements of operations | 10 | 22 | |||
Gross write-offs | (12) | (12) | (25) | (24) | (48) |
Recoveries | 2 | 3 | 2 | 5 | 3 |
Net write-offs | (10) | (9) | (19) | ||
Net write-offs, loans | (23) | (45) | |||
Provisions for interest | 3 | 5 | |||
Foreign currency translation impact and other adjustments, net | (2) | (4) | (6) | ||
Foreign currency translation impact and other adjustments, loans, net | 0 | 2 | |||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 399 | 349 | 399 | ||
Allowance for loan losses, Ending Balance | 171 | 171 | |||
of which individually evaluated for impairment | 313 | 237 | 130 | 313 | 130 |
of which collectively evaluated for impairment | 86 | 112 | 41 | 86 | 41 |
Loans held at amortized cost | |||||
Purchases | 21 | 0 | 0 | 21 | 0 |
Reclassifications from loans held-for-sale | 0 | 0 | 0 | 0 | 0 |
Reclassifications to loans held-for-sale | 0 | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 | 0 |
Consumer | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Current-period provision for expected credit losses | 55 | ||||
Bank | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 1,048 | 1,048 | |||
Allowance for loan losses, Beginning Balance | 945 | 945 | 901 | ||
Current-period provision for expected credit losses | 716 | ||||
of which provisions for interest | 25 | ||||
Net movements recognized in statements of operations | 90 | ||||
Gross write-offs | (83) | (141) | |||
Recoveries | 7 | 15 | |||
Net write-offs | 76 | ||||
Net write-offs, loans | (126) | ||||
Provisions for interest | 21 | ||||
Foreign currency translation impact and other adjustments, net | (20) | ||||
Foreign currency translation impact and other adjustments, loans, net | (5) | ||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,668 | 1,668 | |||
Allowance for loan losses, Ending Balance | 881 | 881 | |||
of which individually evaluated for impairment | 898 | 575 | 898 | 575 | |
of which collectively evaluated for impairment | 770 | 306 | 770 | 306 | |
Loans held at amortized cost | |||||
Purchases | 1,349 | 977 | |||
Reclassifications from loans held-for-sale | 4 | 11 | |||
Reclassifications to loans held-for-sale | 988 | 1,748 | |||
Sales | 980 | 1,606 | |||
Bank | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Current-period provision for expected credit losses | 103 | ||||
Bank | Corporate and institutional | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 807 | 807 | |||
Allowance for loan losses, Beginning Balance | 714 | ||||
Current-period provision for expected credit losses | 533 | ||||
of which provisions for interest | 4 | ||||
Net movements recognized in statements of operations | 68 | ||||
Gross write-offs | (59) | (93) | |||
Recoveries | 2 | 12 | |||
Net write-offs | 57 | ||||
Net write-offs, loans | (81) | ||||
Provisions for interest | 16 | ||||
Foreign currency translation impact and other adjustments, net | (14) | ||||
Foreign currency translation impact and other adjustments, loans, net | (7) | ||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,269 | 1,269 | |||
Allowance for loan losses, Ending Balance | 710 | 710 | |||
of which individually evaluated for impairment | 585 | 445 | 585 | 445 | |
of which collectively evaluated for impairment | 684 | 265 | 684 | 265 | |
Loans held at amortized cost | |||||
Purchases | 1,328 | 977 | |||
Reclassifications from loans held-for-sale | 4 | 11 | |||
Reclassifications to loans held-for-sale | 988 | 1,748 | |||
Sales | 980 | 1,606 | |||
Bank | Corporate and institutional | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Current-period provision for expected credit losses | 48 | ||||
Bank | Consumer | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 241 | 241 | |||
Allowance for loan losses, Beginning Balance | 187 | ||||
Current-period provision for expected credit losses | 183 | ||||
of which provisions for interest | 21 | ||||
Net movements recognized in statements of operations | 22 | ||||
Gross write-offs | (24) | (48) | |||
Recoveries | 5 | 3 | |||
Net write-offs | 19 | ||||
Net write-offs, loans | (45) | ||||
Provisions for interest | 5 | ||||
Foreign currency translation impact and other adjustments, net | (6) | ||||
Foreign currency translation impact and other adjustments, loans, net | 2 | ||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 399 | 399 | |||
Allowance for loan losses, Ending Balance | 171 | 171 | |||
of which individually evaluated for impairment | 313 | 130 | 313 | 130 | |
of which collectively evaluated for impairment | SFr 86 | SFr 41 | 86 | 41 | |
Loans held at amortized cost | |||||
Purchases | 21 | 0 | |||
Reclassifications from loans held-for-sale | 0 | 0 | |||
Reclassifications to loans held-for-sale | 0 | 0 | |||
Sales | SFr 0 | SFr 0 | |||
Bank | Consumer | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Current-period provision for expected credit losses | SFr 55 |
CECL (Details 3)
CECL (Details 3) SFr in Millions | Jun. 30, 2020CHF (SFr) |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Beginning Balance | SFr 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | 0 |
Corporate debt securities | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Beginning Balance | 0 |
Bank | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Beginning Balance | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | 0 |
Bank | Corporate debt securities | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Beginning Balance | SFr 0 |
CECL (Details 4)
CECL (Details 4) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | SFr 52 | SFr 45 | SFr 45 | ||
Other financial assets, Current-period provision for expected credit losses | 21 | 15 | SFr 9 | 36 | SFr 12 |
Other financial assets, Gross write-offs | (1) | (8) | (9) | ||
Other financial assets, Recovery | 1 | 0 | 1 | ||
Other financial assets, Net write-offs | 0 | (8) | (8) | ||
Other financial assets, Foreign currency translation impact and other adjustments, net | (3) | 0 | (3) | ||
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 7 | 7 | |||
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 6 | 6 | |||
Securities purchased under resale agreements and securities borrowing transactions, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
Brokerage receivables, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
Other assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 57 | 57 | |||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 70 | 52 | 70 | ||
Other financial assets, individually evaluated for impairment | 20 | 15 | 20 | ||
Other financial assets, collectively evaluated for impairment | 50 | 37 | 50 | ||
Bank | |||||
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | SFr 43 | 43 | |||
Other financial assets, Current-period provision for expected credit losses | 32 | SFr 11 | |||
Other financial assets, Gross write-offs | (9) | ||||
Other financial assets, Recovery | 1 | ||||
Other financial assets, Net write-offs | (8) | ||||
Other financial assets, Foreign currency translation impact and other adjustments, net | (4) | ||||
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 3 | 3 | |||
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 6 | 6 | |||
Securities purchased under resale agreements and securities borrowing transactions, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
Brokerage receivables, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
Other assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 54 | 54 | |||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 63 | 63 | |||
Other financial assets, individually evaluated for impairment | 19 | 19 | |||
Other financial assets, collectively evaluated for impairment | SFr 44 | SFr 44 |
CECL (Details 6)
CECL (Details 6) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020CHF (SFr)monthday | Jun. 30, 2020CHF (SFr)monthday | Mar. 31, 2020CHF (SFr) | Dec. 31, 2019CHF (SFr) | |
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | SFr 2,274 | SFr 2,274 | SFr 1,803 | SFr 1,510 |
Interest income recognized | 28 | |||
Amortized cost of non-accrual assets with no specific allowance | SFr 185 | SFr 185 | ||
Number of days of default on interest or principal considered to assess credit worthiness (in months) | month | 3 | 3 | ||
Period of anticipated repayment after which loan is written down to net book value (in days) | day | 10 | 10 | ||
Minimum [Member] | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Write-Down of Loan to Net Book Value Loan Provision Threshold as Percentage of Loan Notional Amount | 90.00% | |||
Corporate and institutional | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | SFr 1,313 | SFr 1,313 | 883 | |
Interest income recognized | 24 | |||
Amortized cost of non-accrual assets with no specific allowance | 86 | 86 | ||
Corporate and institutional | Real estate | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 270 | 270 | 155 | |
Interest income recognized | 3 | |||
Amortized cost of non-accrual assets with no specific allowance | 37 | 37 | ||
Corporate and institutional | Commercial and industrial loans | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 978 | 978 | 682 | |
Interest income recognized | 21 | |||
Amortized cost of non-accrual assets with no specific allowance | 41 | 41 | ||
Corporate and institutional | Financial institutions | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 65 | 65 | 46 | |
Interest income recognized | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 8 | 8 | ||
Consumer | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 961 | 961 | 627 | |
Interest income recognized | 4 | |||
Amortized cost of non-accrual assets with no specific allowance | 99 | 99 | ||
Consumer | Mortgages | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 380 | 380 | 337 | |
Interest income recognized | 1 | |||
Amortized cost of non-accrual assets with no specific allowance | 20 | 20 | ||
Consumer | Loans collateralized by securities | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 377 | 377 | 122 | |
Interest income recognized | 3 | |||
Amortized cost of non-accrual assets with no specific allowance | 75 | 75 | ||
Consumer | Consumer finance | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 204 | 204 | 168 | |
Interest income recognized | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 4 | 4 | ||
Bank | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 2,262 | 2,262 | 1,498 | |
Interest income recognized | 28 | |||
Amortized cost of non-accrual assets with no specific allowance | 185 | 185 | ||
Bank | Corporate and institutional | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 1,301 | 1,301 | 871 | |
Interest income recognized | 24 | |||
Amortized cost of non-accrual assets with no specific allowance | 86 | 86 | ||
Bank | Corporate and institutional | Real estate | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 270 | 270 | 155 | |
Interest income recognized | 3 | |||
Amortized cost of non-accrual assets with no specific allowance | 37 | 37 | ||
Bank | Corporate and institutional | Commercial and industrial loans | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 966 | 966 | 670 | |
Interest income recognized | 21 | |||
Amortized cost of non-accrual assets with no specific allowance | 41 | 41 | ||
Bank | Corporate and institutional | Financial institutions | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 65 | 65 | 46 | |
Interest income recognized | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 8 | 8 | ||
Bank | Consumer | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 961 | 961 | 627 | |
Interest income recognized | 4 | |||
Amortized cost of non-accrual assets with no specific allowance | 99 | 99 | ||
Bank | Consumer | Mortgages | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 380 | 380 | 337 | |
Interest income recognized | 1 | |||
Amortized cost of non-accrual assets with no specific allowance | 20 | 20 | ||
Bank | Consumer | Loans collateralized by securities | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 377 | 377 | 122 | |
Interest income recognized | 3 | |||
Amortized cost of non-accrual assets with no specific allowance | 75 | 75 | ||
Bank | Consumer | Consumer finance | ||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | ||||
Amortized cost of non-accrual assets | 204 | 204 | SFr 168 | |
Interest income recognized | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | SFr 4 | SFr 4 |
CECL (Details 7)
CECL (Details 7) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | SFr 278,773 | SFr 282,455 | |
Gross loans held at amortized cost, past due | 4,089 | 2,724 | |
Total | 282,862 | SFr 289,944 | 285,179 |
Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,820 | 1,179 | |
Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 282 | 150 | |
Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 266 | 130 | |
Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,721 | 1,265 | |
Corporate and institutional | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 116,398 | 113,063 | |
Gross loans held at amortized cost, past due | 2,538 | 1,649 | |
Total | 118,936 | 114,712 | |
Corporate and institutional | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,245 | 734 | |
Corporate and institutional | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 238 | 73 | |
Corporate and institutional | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 200 | 76 | |
Corporate and institutional | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 855 | 766 | |
Corporate and institutional | Real estate | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 28,213 | 28,094 | |
Gross loans held at amortized cost, past due | 136 | 229 | |
Total | 28,349 | 28,323 | |
Corporate and institutional | Real estate | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 40 | 95 | |
Corporate and institutional | Real estate | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 5 | 10 | |
Corporate and institutional | Real estate | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 2 | |
Corporate and institutional | Real estate | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 91 | 122 | |
Corporate and institutional | Commercial and industrial loans | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 72,525 | 68,462 | |
Gross loans held at amortized cost, past due | 1,718 | 1,258 | |
Total | 74,243 | 69,720 | |
Corporate and institutional | Commercial and industrial loans | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 585 | 528 | |
Corporate and institutional | Commercial and industrial loans | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 232 | 62 | |
Corporate and institutional | Commercial and industrial loans | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 199 | 71 | |
Corporate and institutional | Commercial and industrial loans | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 702 | 597 | |
Corporate and institutional | Financial institutions | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 14,470 | 15,300 | |
Gross loans held at amortized cost, past due | 673 | 136 | |
Total | 15,143 | 15,436 | |
Corporate and institutional | Financial institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 609 | 85 | |
Corporate and institutional | Financial institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1 | 1 | |
Corporate and institutional | Financial institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1 | 3 | |
Corporate and institutional | Financial institutions | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 62 | 47 | |
Corporate and institutional | Governments and public institutions | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 1,190 | 1,207 | |
Gross loans held at amortized cost, past due | 11 | 26 | |
Total | 1,201 | 1,233 | |
Corporate and institutional | Governments and public institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 11 | 26 | |
Corporate and institutional | Governments and public institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 0 | |
Corporate and institutional | Governments and public institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 0 | |
Corporate and institutional | Governments and public institutions | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 0 | |
Consumer | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 162,375 | 169,392 | |
Gross loans held at amortized cost, past due | 1,551 | 1,075 | |
Total | 163,926 | 170,467 | |
Consumer | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 575 | 445 | |
Consumer | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 44 | 77 | |
Consumer | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 66 | 54 | |
Consumer | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 866 | 499 | |
Consumer | Mortgages | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 109,519 | 109,279 | |
Gross loans held at amortized cost, past due | 503 | 392 | |
Total | 110,022 | 109,671 | |
Consumer | Mortgages | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 128 | 83 | |
Consumer | Mortgages | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 24 | 16 | |
Consumer | Mortgages | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 14 | 9 | |
Consumer | Mortgages | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 337 | 284 | |
Consumer | Loans collateralized by securities | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 48,563 | 56,287 | |
Gross loans held at amortized cost, past due | 421 | 138 | |
Total | 48,984 | 56,425 | |
Consumer | Loans collateralized by securities | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 42 | 79 | |
Consumer | Loans collateralized by securities | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 0 | |
Consumer | Loans collateralized by securities | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 4 | 2 | |
Consumer | Loans collateralized by securities | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 375 | 57 | |
Consumer | Consumer finance | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 4,293 | 3,826 | |
Gross loans held at amortized cost, past due | 627 | 545 | |
Total | 4,920 | 4,371 | |
Consumer | Consumer finance | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 405 | 283 | |
Consumer | Consumer finance | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 20 | 61 | |
Consumer | Consumer finance | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 48 | 43 | |
Consumer | Consumer finance | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 154 | 158 | |
Bank | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 286,399 | 289,713 | |
Gross loans held at amortized cost, past due | 4,077 | 2,712 | |
Total | 290,476 | 292,425 | |
Bank | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,820 | 1,179 | |
Bank | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 282 | 150 | |
Bank | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 266 | 130 | |
Bank | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,709 | 1,253 | |
Bank | Corporate and institutional | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 116,398 | 120,321 | |
Gross loans held at amortized cost, past due | 2,526 | 1,637 | |
Total | 118,924 | 121,958 | |
Bank | Corporate and institutional | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,245 | 734 | |
Bank | Corporate and institutional | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 238 | 73 | |
Bank | Corporate and institutional | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 200 | 76 | |
Bank | Corporate and institutional | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 843 | 754 | |
Bank | Corporate and institutional | Real estate | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 28,213 | 28,094 | |
Gross loans held at amortized cost, past due | 136 | 229 | |
Total | 28,349 | 28,323 | |
Bank | Corporate and institutional | Real estate | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 40 | 95 | |
Bank | Corporate and institutional | Real estate | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 5 | 10 | |
Bank | Corporate and institutional | Real estate | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 2 | |
Bank | Corporate and institutional | Real estate | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 91 | 122 | |
Bank | Corporate and institutional | Commercial and industrial loans | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 72,525 | 69,075 | |
Gross loans held at amortized cost, past due | 1,706 | 1,246 | |
Total | 74,231 | 70,321 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 585 | 528 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 232 | 62 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 199 | 71 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 690 | 585 | |
Bank | Corporate and institutional | Financial institutions | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 14,470 | 21,945 | |
Gross loans held at amortized cost, past due | 673 | 136 | |
Total | 15,143 | 22,081 | |
Bank | Corporate and institutional | Financial institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 609 | 85 | |
Bank | Corporate and institutional | Financial institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1 | 1 | |
Bank | Corporate and institutional | Financial institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1 | 3 | |
Bank | Corporate and institutional | Financial institutions | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 62 | 47 | |
Bank | Corporate and institutional | Governments and public institutions | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 1,190 | 1,207 | |
Gross loans held at amortized cost, past due | 11 | 26 | |
Total | 1,201 | 1,233 | |
Bank | Corporate and institutional | Governments and public institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 11 | 26 | |
Bank | Corporate and institutional | Governments and public institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 0 | |
Bank | Corporate and institutional | Governments and public institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 0 | |
Bank | Corporate and institutional | Governments and public institutions | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 0 | |
Bank | Consumer | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 162,375 | 169,392 | |
Gross loans held at amortized cost, past due | 1,551 | 1,075 | |
Total | 163,926 | 170,467 | |
Bank | Consumer | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 575 | 445 | |
Bank | Consumer | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 44 | 77 | |
Bank | Consumer | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 66 | 54 | |
Bank | Consumer | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 866 | 499 | |
Bank | Consumer | Mortgages | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 109,519 | 109,279 | |
Gross loans held at amortized cost, past due | 503 | 392 | |
Total | 110,022 | 109,671 | |
Bank | Consumer | Mortgages | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 128 | 83 | |
Bank | Consumer | Mortgages | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 24 | 16 | |
Bank | Consumer | Mortgages | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 14 | 9 | |
Bank | Consumer | Mortgages | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 337 | 284 | |
Bank | Consumer | Loans collateralized by securities | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 48,563 | 56,287 | |
Gross loans held at amortized cost, past due | 421 | 138 | |
Total | 48,984 | 56,425 | |
Bank | Consumer | Loans collateralized by securities | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 42 | 79 | |
Bank | Consumer | Loans collateralized by securities | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 0 | |
Bank | Consumer | Loans collateralized by securities | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 4 | 2 | |
Bank | Consumer | Loans collateralized by securities | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 375 | 57 | |
Bank | Consumer | Consumer finance | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 4,293 | 3,826 | |
Gross loans held at amortized cost, past due | 627 | 545 | |
Total | 4,920 | 4,371 | |
Bank | Consumer | Consumer finance | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 405 | 283 | |
Bank | Consumer | Consumer finance | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 20 | 61 | |
Bank | Consumer | Consumer finance | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 48 | 43 | |
Bank | Consumer | Consumer finance | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 154 | SFr 158 | |
Bank | Total loans to third parties | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 278,773 | ||
Gross loans held at amortized cost, past due | 4,077 | ||
Total | 282,850 | ||
Bank | Total loans to third parties | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,820 | ||
Bank | Total loans to third parties | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 282 | ||
Bank | Total loans to third parties | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 266 | ||
Bank | Total loans to third parties | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,709 | ||
Bank | Total loans to entities under common control | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 7,626 | ||
Gross loans held at amortized cost, past due | 0 | ||
Total | 7,626 | ||
Bank | Total loans to entities under common control | Past due up to 30 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | ||
Bank | Total loans to entities under common control | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | ||
Bank | Total loans to entities under common control | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | ||
Bank | Total loans to entities under common control | Past due more than 90 days | |||
Loans Held At Amortized Cost, Recorded Investment, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | SFr 0 |
CECL (Details 8)
CECL (Details 8) SFr in Millions | Dec. 31, 2019CHF (SFr) |
Debt Securities Held-To-Maturity, Amortized Cost, Past Due [Line Items] | |
Total debt securities held-to-maturity, amortized cost | SFr 0 |
Bank | |
Debt Securities Held-To-Maturity, Amortized Cost, Past Due [Line Items] | |
Total debt securities held-to-maturity, amortized cost | SFr 0 |
CECL (Details 9)
CECL (Details 9) SFr in Millions | Jun. 30, 2020CHF (SFr) |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Other financial assets held at amortized cost, total | SFr 1,126 |
Bank | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Other financial assets held at amortized cost, total | SFr 1,126 |
CECL (Details 10)
CECL (Details 10) SFr in Millions | 6 Months Ended | |||
Jun. 30, 2020CHF (SFr)dayyear | Mar. 31, 2020CHF (SFr) | Dec. 31, 2019CHF (SFr) | Jun. 30, 2019CHF (SFr) | |
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | SFr 31,613 | |||
Origination in current year-1 | 42,893 | |||
Origination in current year-2 | 28,121 | |||
Origination in current year-3 | 15,906 | |||
Origination in current year-4 | 19,100 | |||
Origination 5 years or more | 69,221 | |||
Total term loans | 206,854 | |||
Revolving loans | 76,008 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 282,862 | SFr 289,944 | SFr 285,179 | |
Value of collateral | SFr 248,657 | 256,442 | ||
Date when internal ratings were last updated | 2012 | |||
Maximum period for fair value determination of collateral on impaired loans (in days) | day | 90 | |||
Period for appraisal of Property values, Minimum (in years) | year | 1 | |||
Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | SFr 19,204 | |||
Origination in current year-1 | 28,820 | |||
Origination in current year-2 | 18,875 | |||
Origination in current year-3 | 11,258 | |||
Origination in current year-4 | 15,703 | |||
Origination 5 years or more | 58,629 | |||
Total term loans | 152,489 | |||
Revolving loans | 59,787 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 212,276 | 217,017 | ||
Value of collateral | 192,133 | 200,521 | ||
Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 12,221 | |||
Origination in current year-1 | 13,634 | |||
Origination in current year-2 | 8,657 | |||
Origination in current year-3 | 4,356 | |||
Origination in current year-4 | 3,267 | |||
Origination 5 years or more | 10,087 | |||
Total term loans | 52,222 | |||
Revolving loans | 15,416 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 67,638 | 66,222 | ||
Value of collateral | 54,266 | 54,543 | ||
Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 188 | |||
Origination in current year-1 | 439 | |||
Origination in current year-2 | 589 | |||
Origination in current year-3 | 292 | |||
Origination in current year-4 | 130 | |||
Origination 5 years or more | 505 | |||
Total term loans | 2,143 | |||
Revolving loans | 805 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,948 | 1,940 | ||
Value of collateral | 2,258 | 1,378 | ||
Corporate and institutional | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 20,188 | |||
Origination in current year-1 | 22,876 | |||
Origination in current year-2 | 13,852 | |||
Origination in current year-3 | 6,095 | |||
Origination in current year-4 | 5,702 | |||
Origination 5 years or more | 18,650 | |||
Total term loans | 87,363 | |||
Revolving loans | 31,573 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 118,936 | 114,712 | ||
Corporate and institutional | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 10,086 | |||
Origination in current year-1 | 11,730 | |||
Origination in current year-2 | 6,471 | |||
Origination in current year-3 | 2,814 | |||
Origination in current year-4 | 3,623 | |||
Origination 5 years or more | 12,321 | |||
Total term loans | 47,045 | |||
Revolving loans | 18,925 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 65,970 | 65,047 | ||
Corporate and institutional | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 10,023 | |||
Origination in current year-1 | 10,800 | |||
Origination in current year-2 | 7,022 | |||
Origination in current year-3 | 3,139 | |||
Origination in current year-4 | 2,007 | |||
Origination 5 years or more | 6,073 | |||
Total term loans | 39,064 | |||
Revolving loans | 12,057 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 51,121 | 48,385 | ||
Corporate and institutional | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 79 | |||
Origination in current year-1 | 346 | |||
Origination in current year-2 | 359 | |||
Origination in current year-3 | 142 | |||
Origination in current year-4 | 72 | |||
Origination 5 years or more | 256 | |||
Total term loans | 1,254 | |||
Revolving loans | 591 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,845 | 1,280 | ||
Corporate and institutional | Real estate | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 3,996 | |||
Origination in current year-1 | 5,728 | |||
Origination in current year-2 | 3,876 | |||
Origination in current year-3 | 1,854 | |||
Origination in current year-4 | 2,391 | |||
Origination 5 years or more | 8,916 | |||
Total term loans | 26,761 | |||
Revolving loans | 1,588 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 28,349 | 28,323 | ||
Corporate and institutional | Real estate | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 2,597 | |||
Origination in current year-1 | 3,554 | |||
Origination in current year-2 | 2,514 | |||
Origination in current year-3 | 1,225 | |||
Origination in current year-4 | 2,023 | |||
Origination 5 years or more | 7,444 | |||
Total term loans | 19,357 | |||
Revolving loans | 1,224 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 20,581 | 20,524 | ||
Corporate and institutional | Real estate | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 1,399 | |||
Origination in current year-1 | 2,173 | |||
Origination in current year-2 | 1,230 | |||
Origination in current year-3 | 533 | |||
Origination in current year-4 | 345 | |||
Origination 5 years or more | 1,446 | |||
Total term loans | 7,126 | |||
Revolving loans | 332 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 7,458 | 7,674 | ||
Corporate and institutional | Real estate | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 0 | |||
Origination in current year-1 | 1 | |||
Origination in current year-2 | 132 | |||
Origination in current year-3 | 96 | |||
Origination in current year-4 | 23 | |||
Origination 5 years or more | 26 | |||
Total term loans | 278 | |||
Revolving loans | 32 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 310 | 125 | ||
Corporate and institutional | Commercial and industrial loans | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 13,679 | |||
Origination in current year-1 | 14,136 | |||
Origination in current year-2 | 7,998 | |||
Origination in current year-3 | 3,990 | |||
Origination in current year-4 | 2,868 | |||
Origination 5 years or more | 8,798 | |||
Total term loans | 51,469 | |||
Revolving loans | 22,774 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 74,243 | 69,720 | ||
Corporate and institutional | Commercial and industrial loans | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 5,408 | |||
Origination in current year-1 | 5,561 | |||
Origination in current year-2 | 2,422 | |||
Origination in current year-3 | 1,448 | |||
Origination in current year-4 | 1,285 | |||
Origination 5 years or more | 3,994 | |||
Total term loans | 20,118 | |||
Revolving loans | 11,187 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 31,305 | 30,090 | ||
Corporate and institutional | Commercial and industrial loans | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 8,192 | |||
Origination in current year-1 | 8,271 | |||
Origination in current year-2 | 5,350 | |||
Origination in current year-3 | 2,496 | |||
Origination in current year-4 | 1,554 | |||
Origination 5 years or more | 4,577 | |||
Total term loans | 30,440 | |||
Revolving loans | 11,029 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 41,469 | 38,522 | ||
Corporate and institutional | Commercial and industrial loans | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 79 | |||
Origination in current year-1 | 304 | |||
Origination in current year-2 | 226 | |||
Origination in current year-3 | 46 | |||
Origination in current year-4 | 29 | |||
Origination 5 years or more | 227 | |||
Total term loans | 911 | |||
Revolving loans | 558 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,469 | 1,108 | ||
Corporate and institutional | Financial institutions | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 2,457 | |||
Origination in current year-1 | 2,845 | |||
Origination in current year-2 | 1,897 | |||
Origination in current year-3 | 215 | |||
Origination in current year-4 | 171 | |||
Origination 5 years or more | 361 | |||
Total term loans | 7,946 | |||
Revolving loans | 7,197 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 15,143 | 15,436 | ||
Corporate and institutional | Financial institutions | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 2,037 | |||
Origination in current year-1 | 2,478 | |||
Origination in current year-2 | 1,454 | |||
Origination in current year-3 | 105 | |||
Origination in current year-4 | 44 | |||
Origination 5 years or more | 336 | |||
Total term loans | 6,454 | |||
Revolving loans | 6,500 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 12,954 | 13,267 | ||
Corporate and institutional | Financial institutions | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 420 | |||
Origination in current year-1 | 326 | |||
Origination in current year-2 | 442 | |||
Origination in current year-3 | 110 | |||
Origination in current year-4 | 107 | |||
Origination 5 years or more | 22 | |||
Total term loans | 1,427 | |||
Revolving loans | 696 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,123 | 2,122 | ||
Corporate and institutional | Financial institutions | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 0 | |||
Origination in current year-1 | 41 | |||
Origination in current year-2 | 1 | |||
Origination in current year-3 | 0 | |||
Origination in current year-4 | 20 | |||
Origination 5 years or more | 3 | |||
Total term loans | 65 | |||
Revolving loans | 1 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 66 | 47 | ||
Corporate and institutional | Governments and public institutions | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 56 | |||
Origination in current year-1 | 167 | |||
Origination in current year-2 | 81 | |||
Origination in current year-3 | 36 | |||
Origination in current year-4 | 272 | |||
Origination 5 years or more | 575 | |||
Total term loans | 1,187 | |||
Revolving loans | 14 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,201 | 1,233 | ||
Corporate and institutional | Governments and public institutions | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 44 | |||
Origination in current year-1 | 137 | |||
Origination in current year-2 | 81 | |||
Origination in current year-3 | 36 | |||
Origination in current year-4 | 271 | |||
Origination 5 years or more | 547 | |||
Total term loans | 1,116 | |||
Revolving loans | 14 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,130 | 1,166 | ||
Corporate and institutional | Governments and public institutions | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 12 | |||
Origination in current year-1 | 30 | |||
Origination in current year-2 | 0 | |||
Origination in current year-3 | 0 | |||
Origination in current year-4 | 1 | |||
Origination 5 years or more | 28 | |||
Total term loans | 71 | |||
Revolving loans | 0 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 71 | 67 | ||
Corporate and institutional | Governments and public institutions | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 0 | |||
Origination in current year-1 | 0 | |||
Origination in current year-2 | 0 | |||
Origination in current year-3 | 0 | |||
Origination in current year-4 | 0 | |||
Origination 5 years or more | 0 | |||
Total term loans | 0 | |||
Revolving loans | 0 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 | ||
Consumer | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 11,425 | |||
Origination in current year-1 | 20,017 | |||
Origination in current year-2 | 14,269 | |||
Origination in current year-3 | 9,811 | |||
Origination in current year-4 | 13,398 | |||
Origination 5 years or more | 50,571 | |||
Total term loans | 119,491 | |||
Revolving loans | 44,435 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 163,926 | 170,467 | ||
Consumer | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 9,118 | |||
Origination in current year-1 | 17,090 | |||
Origination in current year-2 | 12,404 | |||
Origination in current year-3 | 8,444 | |||
Origination in current year-4 | 12,080 | |||
Origination 5 years or more | 46,308 | |||
Total term loans | 105,444 | |||
Revolving loans | 40,862 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 146,306 | 151,970 | ||
Consumer | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 2,198 | |||
Origination in current year-1 | 2,834 | |||
Origination in current year-2 | 1,635 | |||
Origination in current year-3 | 1,217 | |||
Origination in current year-4 | 1,260 | |||
Origination 5 years or more | 4,014 | |||
Total term loans | 13,158 | |||
Revolving loans | 3,359 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 16,517 | 17,837 | ||
Consumer | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 109 | |||
Origination in current year-1 | 93 | |||
Origination in current year-2 | 230 | |||
Origination in current year-3 | 150 | |||
Origination in current year-4 | 58 | |||
Origination 5 years or more | 249 | |||
Total term loans | 889 | |||
Revolving loans | 214 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,103 | 660 | ||
Consumer | Mortgages | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 7,867 | |||
Origination in current year-1 | 16,847 | |||
Origination in current year-2 | 12,468 | |||
Origination in current year-3 | 9,264 | |||
Origination in current year-4 | 12,850 | |||
Origination 5 years or more | 49,351 | |||
Total term loans | 108,647 | |||
Revolving loans | 1,375 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 110,022 | 109,671 | ||
Consumer | Mortgages | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 7,090 | |||
Origination in current year-1 | 15,143 | |||
Origination in current year-2 | 11,348 | |||
Origination in current year-3 | 8,208 | |||
Origination in current year-4 | 11,849 | |||
Origination 5 years or more | 45,659 | |||
Total term loans | 99,297 | |||
Revolving loans | 831 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 100,128 | 99,677 | ||
Consumer | Mortgages | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 774 | |||
Origination in current year-1 | 1,693 | |||
Origination in current year-2 | 1,080 | |||
Origination in current year-3 | 976 | |||
Origination in current year-4 | 955 | |||
Origination 5 years or more | 3,490 | |||
Total term loans | 8,968 | |||
Revolving loans | 530 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 9,498 | 9,629 | ||
Consumer | Mortgages | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 3 | |||
Origination in current year-1 | 11 | |||
Origination in current year-2 | 40 | |||
Origination in current year-3 | 80 | |||
Origination in current year-4 | 46 | |||
Origination 5 years or more | 202 | |||
Total term loans | 382 | |||
Revolving loans | 14 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 396 | 365 | ||
Consumer | Loans collateralized by securities | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 2,467 | |||
Origination in current year-1 | 1,793 | |||
Origination in current year-2 | 1,146 | |||
Origination in current year-3 | 206 | |||
Origination in current year-4 | 411 | |||
Origination 5 years or more | 1,016 | |||
Total term loans | 7,039 | |||
Revolving loans | 41,945 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 48,984 | 56,425 | ||
Consumer | Loans collateralized by securities | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 1,548 | |||
Origination in current year-1 | 1,284 | |||
Origination in current year-2 | 745 | |||
Origination in current year-3 | 107 | |||
Origination in current year-4 | 196 | |||
Origination 5 years or more | 621 | |||
Total term loans | 4,501 | |||
Revolving loans | 39,158 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 43,659 | 50,766 | ||
Consumer | Loans collateralized by securities | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 814 | |||
Origination in current year-1 | 440 | |||
Origination in current year-2 | 231 | |||
Origination in current year-3 | 48 | |||
Origination in current year-4 | 215 | |||
Origination 5 years or more | 395 | |||
Total term loans | 2,143 | |||
Revolving loans | 2,676 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 4,819 | 5,531 | ||
Consumer | Loans collateralized by securities | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 105 | |||
Origination in current year-1 | 69 | |||
Origination in current year-2 | 170 | |||
Origination in current year-3 | 51 | |||
Origination in current year-4 | 0 | |||
Origination 5 years or more | 0 | |||
Total term loans | 395 | |||
Revolving loans | 111 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 506 | 128 | ||
Consumer | Consumer finance | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 1,091 | |||
Origination in current year-1 | 1,377 | |||
Origination in current year-2 | 655 | |||
Origination in current year-3 | 341 | |||
Origination in current year-4 | 137 | |||
Origination 5 years or more | 204 | |||
Total term loans | 3,805 | |||
Revolving loans | 1,115 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 4,920 | 4,371 | ||
Consumer | Consumer finance | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 480 | |||
Origination in current year-1 | 663 | |||
Origination in current year-2 | 311 | |||
Origination in current year-3 | 129 | |||
Origination in current year-4 | 35 | |||
Origination 5 years or more | 28 | |||
Total term loans | 1,646 | |||
Revolving loans | 873 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,519 | 1,527 | ||
Consumer | Consumer finance | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 610 | |||
Origination in current year-1 | 701 | |||
Origination in current year-2 | 324 | |||
Origination in current year-3 | 193 | |||
Origination in current year-4 | 90 | |||
Origination 5 years or more | 129 | |||
Total term loans | 2,047 | |||
Revolving loans | 153 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,200 | 2,677 | ||
Consumer | Consumer finance | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 1 | |||
Origination in current year-1 | 13 | |||
Origination in current year-2 | 20 | |||
Origination in current year-3 | 19 | |||
Origination in current year-4 | 12 | |||
Origination 5 years or more | 47 | |||
Total term loans | 112 | |||
Revolving loans | 89 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 201 | 167 | ||
Bank | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 31,613 | |||
Origination in current year-1 | 42,893 | |||
Origination in current year-2 | 28,121 | |||
Origination in current year-3 | 15,906 | |||
Origination in current year-4 | 19,100 | |||
Origination 5 years or more | 69,209 | |||
Total term loans | 206,842 | |||
Revolving loans | 76,008 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 290,476 | 292,425 | ||
Value of collateral | 248,680 | 256,465 | ||
Bank | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 19,204 | |||
Origination in current year-1 | 28,820 | |||
Origination in current year-2 | 18,875 | |||
Origination in current year-3 | 11,258 | |||
Origination in current year-4 | 15,703 | |||
Origination 5 years or more | 58,629 | |||
Total term loans | 152,489 | |||
Revolving loans | 59,787 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 219,902 | 224,275 | ||
Value of collateral | 192,167 | 200,556 | ||
Bank | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 12,221 | |||
Origination in current year-1 | 13,634 | |||
Origination in current year-2 | 8,657 | |||
Origination in current year-3 | 4,356 | |||
Origination in current year-4 | 3,267 | |||
Origination 5 years or more | 10,087 | |||
Total term loans | 52,222 | |||
Revolving loans | 15,416 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 67,638 | 66,222 | ||
Value of collateral | 54,266 | 54,543 | ||
Bank | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 188 | |||
Origination in current year-1 | 439 | |||
Origination in current year-2 | 589 | |||
Origination in current year-3 | 292 | |||
Origination in current year-4 | 130 | |||
Origination 5 years or more | 493 | |||
Total term loans | 2,131 | |||
Revolving loans | 805 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,936 | 1,928 | ||
Value of collateral | 2,247 | 1,366 | ||
Bank | Corporate and institutional | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 20,188 | |||
Origination in current year-1 | 22,876 | |||
Origination in current year-2 | 13,852 | |||
Origination in current year-3 | 6,095 | |||
Origination in current year-4 | 5,702 | |||
Origination 5 years or more | 18,638 | |||
Total term loans | 87,351 | |||
Revolving loans | 31,573 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 118,924 | 121,958 | ||
Bank | Corporate and institutional | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 10,086 | |||
Origination in current year-1 | 11,730 | |||
Origination in current year-2 | 6,471 | |||
Origination in current year-3 | 2,814 | |||
Origination in current year-4 | 3,623 | |||
Origination 5 years or more | 12,321 | |||
Total term loans | 47,045 | |||
Revolving loans | 18,925 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 65,970 | 72,305 | ||
Bank | Corporate and institutional | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 10,023 | |||
Origination in current year-1 | 10,800 | |||
Origination in current year-2 | 7,022 | |||
Origination in current year-3 | 3,139 | |||
Origination in current year-4 | 2,007 | |||
Origination 5 years or more | 6,073 | |||
Total term loans | 39,064 | |||
Revolving loans | 12,057 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 51,121 | 48,385 | ||
Bank | Corporate and institutional | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 79 | |||
Origination in current year-1 | 346 | |||
Origination in current year-2 | 359 | |||
Origination in current year-3 | 142 | |||
Origination in current year-4 | 72 | |||
Origination 5 years or more | 244 | |||
Total term loans | 1,242 | |||
Revolving loans | 591 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,833 | 1,268 | ||
Bank | Corporate and institutional | Real estate | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 3,996 | |||
Origination in current year-1 | 5,728 | |||
Origination in current year-2 | 3,876 | |||
Origination in current year-3 | 1,854 | |||
Origination in current year-4 | 2,391 | |||
Origination 5 years or more | 8,916 | |||
Total term loans | 26,761 | |||
Revolving loans | 1,588 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 28,349 | 28,323 | ||
Bank | Corporate and institutional | Real estate | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 2,597 | |||
Origination in current year-1 | 3,554 | |||
Origination in current year-2 | 2,514 | |||
Origination in current year-3 | 1,225 | |||
Origination in current year-4 | 2,023 | |||
Origination 5 years or more | 7,444 | |||
Total term loans | 19,357 | |||
Revolving loans | 1,224 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 20,581 | 20,524 | ||
Bank | Corporate and institutional | Real estate | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 1,399 | |||
Origination in current year-1 | 2,173 | |||
Origination in current year-2 | 1,230 | |||
Origination in current year-3 | 533 | |||
Origination in current year-4 | 345 | |||
Origination 5 years or more | 1,446 | |||
Total term loans | 7,126 | |||
Revolving loans | 332 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 7,458 | 7,674 | ||
Bank | Corporate and institutional | Real estate | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 0 | |||
Origination in current year-1 | 1 | |||
Origination in current year-2 | 132 | |||
Origination in current year-3 | 96 | |||
Origination in current year-4 | 23 | |||
Origination 5 years or more | 26 | |||
Total term loans | 278 | |||
Revolving loans | 32 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 310 | 125 | ||
Bank | Corporate and institutional | Commercial and industrial loans | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 13,679 | |||
Origination in current year-1 | 14,136 | |||
Origination in current year-2 | 7,998 | |||
Origination in current year-3 | 3,990 | |||
Origination in current year-4 | 2,868 | |||
Origination 5 years or more | 8,786 | |||
Total term loans | 51,457 | |||
Revolving loans | 22,774 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 74,231 | 70,321 | ||
Bank | Corporate and institutional | Commercial and industrial loans | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 5,408 | |||
Origination in current year-1 | 5,561 | |||
Origination in current year-2 | 2,422 | |||
Origination in current year-3 | 1,448 | |||
Origination in current year-4 | 1,285 | |||
Origination 5 years or more | 3,994 | |||
Total term loans | 20,118 | |||
Revolving loans | 11,187 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 31,305 | 30,703 | ||
Bank | Corporate and institutional | Commercial and industrial loans | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 8,192 | |||
Origination in current year-1 | 8,271 | |||
Origination in current year-2 | 5,350 | |||
Origination in current year-3 | 2,496 | |||
Origination in current year-4 | 1,554 | |||
Origination 5 years or more | 4,577 | |||
Total term loans | 30,440 | |||
Revolving loans | 11,029 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 41,469 | 38,522 | ||
Bank | Corporate and institutional | Commercial and industrial loans | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 79 | |||
Origination in current year-1 | 304 | |||
Origination in current year-2 | 226 | |||
Origination in current year-3 | 46 | |||
Origination in current year-4 | 29 | |||
Origination 5 years or more | 215 | |||
Total term loans | 899 | |||
Revolving loans | 558 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,457 | 1,096 | ||
Bank | Corporate and institutional | Financial institutions | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 2,457 | |||
Origination in current year-1 | 2,845 | |||
Origination in current year-2 | 1,897 | |||
Origination in current year-3 | 215 | |||
Origination in current year-4 | 171 | |||
Origination 5 years or more | 361 | |||
Total term loans | 7,946 | |||
Revolving loans | 7,197 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 15,143 | 22,081 | ||
Bank | Corporate and institutional | Financial institutions | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 2,037 | |||
Origination in current year-1 | 2,478 | |||
Origination in current year-2 | 1,454 | |||
Origination in current year-3 | 105 | |||
Origination in current year-4 | 44 | |||
Origination 5 years or more | 336 | |||
Total term loans | 6,454 | |||
Revolving loans | 6,500 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 12,954 | 19,912 | ||
Bank | Corporate and institutional | Financial institutions | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 420 | |||
Origination in current year-1 | 326 | |||
Origination in current year-2 | 442 | |||
Origination in current year-3 | 110 | |||
Origination in current year-4 | 107 | |||
Origination 5 years or more | 22 | |||
Total term loans | 1,427 | |||
Revolving loans | 696 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,123 | 2,122 | ||
Bank | Corporate and institutional | Financial institutions | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 0 | |||
Origination in current year-1 | 41 | |||
Origination in current year-2 | 1 | |||
Origination in current year-3 | 0 | |||
Origination in current year-4 | 20 | |||
Origination 5 years or more | 3 | |||
Total term loans | 65 | |||
Revolving loans | 1 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 66 | 47 | ||
Bank | Corporate and institutional | Governments and public institutions | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 56 | |||
Origination in current year-1 | 167 | |||
Origination in current year-2 | 81 | |||
Origination in current year-3 | 36 | |||
Origination in current year-4 | 272 | |||
Origination 5 years or more | 575 | |||
Total term loans | 1,187 | |||
Revolving loans | 14 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,201 | 1,233 | ||
Bank | Corporate and institutional | Governments and public institutions | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 44 | |||
Origination in current year-1 | 137 | |||
Origination in current year-2 | 81 | |||
Origination in current year-3 | 36 | |||
Origination in current year-4 | 271 | |||
Origination 5 years or more | 547 | |||
Total term loans | 1,116 | |||
Revolving loans | 14 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,130 | 1,166 | ||
Bank | Corporate and institutional | Governments and public institutions | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 12 | |||
Origination in current year-1 | 30 | |||
Origination in current year-2 | 0 | |||
Origination in current year-3 | 0 | |||
Origination in current year-4 | 1 | |||
Origination 5 years or more | 28 | |||
Total term loans | 71 | |||
Revolving loans | 0 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 71 | 67 | ||
Bank | Corporate and institutional | Governments and public institutions | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 0 | |||
Origination in current year-1 | 0 | |||
Origination in current year-2 | 0 | |||
Origination in current year-3 | 0 | |||
Origination in current year-4 | 0 | |||
Origination 5 years or more | 0 | |||
Total term loans | 0 | |||
Revolving loans | 0 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | 0 | ||
Bank | Consumer | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 11,425 | |||
Origination in current year-1 | 20,017 | |||
Origination in current year-2 | 14,269 | |||
Origination in current year-3 | 9,811 | |||
Origination in current year-4 | 13,398 | |||
Origination 5 years or more | 50,571 | |||
Total term loans | 119,491 | |||
Revolving loans | 44,435 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 163,926 | 170,467 | ||
Bank | Consumer | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 9,118 | |||
Origination in current year-1 | 17,090 | |||
Origination in current year-2 | 12,404 | |||
Origination in current year-3 | 8,444 | |||
Origination in current year-4 | 12,080 | |||
Origination 5 years or more | 46,308 | |||
Total term loans | 105,444 | |||
Revolving loans | 40,862 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 146,306 | 151,970 | ||
Bank | Consumer | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 2,198 | |||
Origination in current year-1 | 2,834 | |||
Origination in current year-2 | 1,635 | |||
Origination in current year-3 | 1,217 | |||
Origination in current year-4 | 1,260 | |||
Origination 5 years or more | 4,014 | |||
Total term loans | 13,158 | |||
Revolving loans | 3,359 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 16,517 | 17,837 | ||
Bank | Consumer | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 109 | |||
Origination in current year-1 | 93 | |||
Origination in current year-2 | 230 | |||
Origination in current year-3 | 150 | |||
Origination in current year-4 | 58 | |||
Origination 5 years or more | 249 | |||
Total term loans | 889 | |||
Revolving loans | 214 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 1,103 | 660 | ||
Bank | Consumer | Mortgages | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 7,867 | |||
Origination in current year-1 | 16,847 | |||
Origination in current year-2 | 12,468 | |||
Origination in current year-3 | 9,264 | |||
Origination in current year-4 | 12,850 | |||
Origination 5 years or more | 49,351 | |||
Total term loans | 108,647 | |||
Revolving loans | 1,375 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 110,022 | 109,671 | ||
Bank | Consumer | Mortgages | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 7,090 | |||
Origination in current year-1 | 15,143 | |||
Origination in current year-2 | 11,348 | |||
Origination in current year-3 | 8,208 | |||
Origination in current year-4 | 11,849 | |||
Origination 5 years or more | 45,659 | |||
Total term loans | 99,297 | |||
Revolving loans | 831 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 100,128 | 99,677 | ||
Bank | Consumer | Mortgages | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 774 | |||
Origination in current year-1 | 1,693 | |||
Origination in current year-2 | 1,080 | |||
Origination in current year-3 | 976 | |||
Origination in current year-4 | 955 | |||
Origination 5 years or more | 3,490 | |||
Total term loans | 8,968 | |||
Revolving loans | 530 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 9,498 | 9,629 | ||
Bank | Consumer | Mortgages | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 3 | |||
Origination in current year-1 | 11 | |||
Origination in current year-2 | 40 | |||
Origination in current year-3 | 80 | |||
Origination in current year-4 | 46 | |||
Origination 5 years or more | 202 | |||
Total term loans | 382 | |||
Revolving loans | 14 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 396 | 365 | ||
Bank | Consumer | Loans collateralized by securities | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 2,467 | |||
Origination in current year-1 | 1,793 | |||
Origination in current year-2 | 1,146 | |||
Origination in current year-3 | 206 | |||
Origination in current year-4 | 411 | |||
Origination 5 years or more | 1,016 | |||
Total term loans | 7,039 | |||
Revolving loans | 41,945 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 48,984 | 56,425 | ||
Bank | Consumer | Loans collateralized by securities | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 1,548 | |||
Origination in current year-1 | 1,284 | |||
Origination in current year-2 | 745 | |||
Origination in current year-3 | 107 | |||
Origination in current year-4 | 196 | |||
Origination 5 years or more | 621 | |||
Total term loans | 4,501 | |||
Revolving loans | 39,158 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 43,659 | SFr 50,766 | ||
Bank | Consumer | Loans collateralized by securities | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 814 | |||
Origination in current year-1 | 440 | |||
Origination in current year-2 | 231 | |||
Origination in current year-3 | 48 | |||
Origination in current year-4 | 215 | |||
Origination 5 years or more | 395 | |||
Total term loans | 2,143 | |||
Revolving loans | 2,676 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 4,819 | 5,531 | ||
Bank | Consumer | Loans collateralized by securities | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 105 | |||
Origination in current year-1 | 69 | |||
Origination in current year-2 | 170 | |||
Origination in current year-3 | 51 | |||
Origination in current year-4 | 0 | |||
Origination 5 years or more | 0 | |||
Total term loans | 395 | |||
Revolving loans | 111 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 506 | SFr 128 | ||
Bank | Consumer | Consumer finance | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 1,091 | |||
Origination in current year-1 | 1,377 | |||
Origination in current year-2 | 655 | |||
Origination in current year-3 | 341 | |||
Origination in current year-4 | 137 | |||
Origination 5 years or more | 204 | |||
Total term loans | 3,805 | |||
Revolving loans | 1,115 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 4,920 | 4,371 | ||
Bank | Consumer | Consumer finance | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 480 | |||
Origination in current year-1 | 663 | |||
Origination in current year-2 | 311 | |||
Origination in current year-3 | 129 | |||
Origination in current year-4 | 35 | |||
Origination 5 years or more | 28 | |||
Total term loans | 1,646 | |||
Revolving loans | 873 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,519 | 1,527 | ||
Bank | Consumer | Consumer finance | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 610 | |||
Origination in current year-1 | 701 | |||
Origination in current year-2 | 324 | |||
Origination in current year-3 | 193 | |||
Origination in current year-4 | 90 | |||
Origination 5 years or more | 129 | |||
Total term loans | 2,047 | |||
Revolving loans | 153 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,200 | 2,677 | ||
Bank | Consumer | Consumer finance | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Origination in current year | 1 | |||
Origination in current year-1 | 13 | |||
Origination in current year-2 | 20 | |||
Origination in current year-3 | 19 | |||
Origination in current year-4 | 12 | |||
Origination 5 years or more | 47 | |||
Total term loans | 112 | |||
Revolving loans | 89 | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 201 | SFr 167 | ||
Bank | Total loans to third parties | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Financing Receivable, before Allowance for Credit Loss and Fee | 282,850 | |||
Bank | Total loans to third parties | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Financing Receivable, before Allowance for Credit Loss and Fee | 212,276 | |||
Bank | Total loans to third parties | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Financing Receivable, before Allowance for Credit Loss and Fee | 67,638 | |||
Bank | Total loans to third parties | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,936 | |||
Bank | Total loans to entities under common control | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Financing Receivable, before Allowance for Credit Loss and Fee | 7,626 | |||
Bank | Total loans to entities under common control | Investment grade | AAA to BBB | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Financing Receivable, before Allowance for Credit Loss and Fee | 7,626 | |||
Bank | Total loans to entities under common control | Non-investment grade | BB to C | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Financing Receivable, before Allowance for Credit Loss and Fee | 0 | |||
Bank | Total loans to entities under common control | Non-investment grade | D | ||||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | ||||
Financing Receivable, before Allowance for Credit Loss and Fee | SFr 0 |
CECL (Details 11)
CECL (Details 11) SFr in Millions | Dec. 31, 2019CHF (SFr) |
Debt Securities Held-To-Maturity, Amortized Cost [Line Items] | |
Debt securities held-to-maturity | SFr 0 |
Bank | |
Debt Securities Held-To-Maturity, Amortized Cost [Line Items] | |
Debt securities held-to-maturity | SFr 0 |
CECL (Details 12)
CECL (Details 12) SFr in Millions | Jun. 30, 2020CHF (SFr) |
Financing Receivable, Recorded Investment [Line Items] | |
Origination in current year-1 | SFr 95 |
Origination in current year-2 | 70 |
Total term positions | 165 |
Revolving positions | 961 |
Other financial assets held at amortized cost, total | 1,126 |
Investment grade | AAA to BBB | |
Financing Receivable, Recorded Investment [Line Items] | |
Origination in current year-1 | 0 |
Origination in current year-2 | 0 |
Total term positions | 0 |
Revolving positions | 0 |
Other financial assets held at amortized cost, total | 0 |
Non-investment grade | BB to C | |
Financing Receivable, Recorded Investment [Line Items] | |
Origination in current year-1 | 95 |
Origination in current year-2 | 70 |
Total term positions | 165 |
Revolving positions | 961 |
Other financial assets held at amortized cost, total | 1,126 |
Non-investment grade | D | |
Financing Receivable, Recorded Investment [Line Items] | |
Origination in current year-1 | 0 |
Origination in current year-2 | 0 |
Total term positions | 0 |
Revolving positions | 0 |
Other financial assets held at amortized cost, total | 0 |
Bank | |
Financing Receivable, Recorded Investment [Line Items] | |
Origination in current year-1 | 95 |
Origination in current year-2 | 70 |
Total term positions | 165 |
Revolving positions | 961 |
Other financial assets held at amortized cost, total | 1,126 |
Bank | Investment grade | AAA to BBB | |
Financing Receivable, Recorded Investment [Line Items] | |
Origination in current year-1 | 0 |
Origination in current year-2 | 0 |
Total term positions | 0 |
Revolving positions | 0 |
Other financial assets held at amortized cost, total | 0 |
Bank | Non-investment grade | BB to C | |
Financing Receivable, Recorded Investment [Line Items] | |
Origination in current year-1 | 95 |
Origination in current year-2 | 70 |
Total term positions | 165 |
Revolving positions | 961 |
Other financial assets held at amortized cost, total | 1,126 |
Bank | Non-investment grade | D | |
Financing Receivable, Recorded Investment [Line Items] | |
Origination in current year-1 | 0 |
Origination in current year-2 | 0 |
Total term positions | 0 |
Revolving positions | 0 |
Other financial assets held at amortized cost, total | SFr 0 |
CECL (Details 14)
CECL (Details 14) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020CHF (SFr)contract | Mar. 31, 2020CHF (SFr)contract | Jun. 30, 2019CHF (SFr)contract | Jun. 30, 2020CHF (SFr)contract | Jun. 30, 2019CHF (SFr)contract | |
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 3 | 6 | 6 | 9 | 7 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 118 | SFr 30 | SFr 14 | SFr 148 | SFr 21 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 117 | SFr 14 | SFr 14 | SFr 131 | SFr 21 |
Restructured loans, subsequently defaulted, Number of contracts | contract | 3 | 0 | 0 | 3 | 1 |
Restructured loans, subsequently defaulted, Recorded Investment | SFr 12 | SFr 0 | SFr 0 | SFr 12 | SFr 13 |
Consumer | Mortgages | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 0 | 1 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 0 | SFr 7 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 0 | SFr 7 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 1 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 13 | |||
Consumer | Loans collateralized by securities | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 2 | 0 | 0 | 2 | 0 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 116 | SFr 0 | SFr 0 | SFr 116 | SFr 0 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 116 | SFr 0 | SFr 0 | SFr 116 | SFr 0 |
Corporate and institutional | Commercial and industrial loans | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 1 | 6 | 6 | 7 | 6 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 2 | SFr 30 | SFr 14 | SFr 32 | SFr 14 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 1 | SFr 14 | SFr 14 | SFr 15 | SFr 14 |
Restructured loans, subsequently defaulted, Number of contracts | contract | 3 | 0 | 0 | 3 | 0 |
Restructured loans, subsequently defaulted, Recorded Investment | SFr 12 | SFr 0 | SFr 0 | SFr 12 | SFr 0 |
Bank | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 9 | 7 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 148 | SFr 21 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 131 | SFr 21 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 3 | 1 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 12 | SFr 13 | |||
Bank | Consumer | Mortgages | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 0 | 1 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 0 | SFr 7 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 0 | SFr 7 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 1 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 13 | |||
Bank | Consumer | Loans collateralized by securities | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 2 | 0 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 116 | SFr 0 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 116 | SFr 0 | |||
Bank | Corporate and institutional | Commercial and industrial loans | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 7 | 6 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 32 | SFr 14 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 15 | SFr 14 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 3 | 0 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 12 | SFr 0 |
Goodwill (Details)
Goodwill (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | |
Gross amount of goodwill | ||||
Balance at beginning of period | SFr 8,495 | SFr 8,554 | ||
Goodwill acquired during the period | 122 | 131 | ||
Foreign currency translation impact | (50) | (75) | ||
Other | (43) | |||
Balance at end of period | 8,567 | 8,567 | ||
Accumulated impairment | ||||
Balance at beginning of period | 3,891 | 3,891 | ||
Balance at end of period | 3,891 | 3,891 | ||
Net book value | ||||
Net book value | 4,676 | 4,676 | SFr 4,604 | SFr 4,663 |
Operating Segments | Swiss Universal Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 602 | 607 | ||
Goodwill acquired during the period | 0 | 0 | ||
Foreign currency translation impact | (4) | (7) | ||
Other | (2) | |||
Balance at end of period | 598 | 598 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | 0 | ||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 598 | 598 | ||
Operating Segments | International Wealth Management | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,462 | 1,494 | ||
Goodwill acquired during the period | 0 | 9 | ||
Foreign currency translation impact | (19) | (30) | ||
Other | (30) | |||
Balance at end of period | 1,443 | 1,443 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | 0 | ||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 1,443 | 1,443 | ||
Operating Segments | Asia Pacific | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 2,231 | 2,248 | ||
Goodwill acquired during the period | 122 | 122 | ||
Foreign currency translation impact | (15) | (21) | ||
Other | (11) | |||
Balance at end of period | 2,338 | 2,338 | ||
Accumulated impairment | ||||
Balance at beginning of period | 772 | 772 | ||
Balance at end of period | 772 | 772 | ||
Net book value | ||||
Net book value | SFr 1,566 | SFr 1,566 | ||
Percentage by which goodwill fair value exceeds carrying value | 6.00% | 6.00% | ||
Operating Segments | Global Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | SFr 3,174 | SFr 3,176 | ||
Goodwill acquired during the period | 0 | 0 | ||
Foreign currency translation impact | (5) | (7) | ||
Other | 0 | |||
Balance at end of period | 3,169 | 3,169 | ||
Accumulated impairment | ||||
Balance at beginning of period | 2,719 | 2,719 | ||
Balance at end of period | 2,719 | 2,719 | ||
Net book value | ||||
Net book value | SFr 450 | SFr 450 | ||
Percentage by which goodwill fair value exceeds carrying value | 11.00% | 11.00% | ||
Operating Segments | Investment Banking & Capital Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | SFr 1,014 | SFr 1,017 | ||
Goodwill acquired during the period | 0 | 0 | ||
Foreign currency translation impact | (7) | (10) | ||
Other | 0 | |||
Balance at end of period | 1,007 | 1,007 | ||
Accumulated impairment | ||||
Balance at beginning of period | 388 | 388 | ||
Balance at end of period | 388 | 388 | ||
Net book value | ||||
Net book value | SFr 619 | SFr 619 | ||
Percentage by which goodwill fair value exceeds carrying value | 13.00% | 13.00% | ||
Operating Segments | Strategic Resolution Unit | ||||
Gross amount of goodwill | ||||
Balance at end of period | SFr 12 | SFr 12 | ||
Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 7,851 | |||
Goodwill acquired during the period | 131 | |||
Foreign currency translation impact | (69) | |||
Other | (43) | |||
Balance at end of period | 7,870 | 7,870 | ||
Accumulated impairment | ||||
Balance at beginning of period | 3,891 | |||
Balance at end of period | 3,891 | 3,891 | ||
Net book value | ||||
Net book value | 3,979 | 3,979 | SFr 3,960 | |
Bank | Operating Segments | Swiss Universal Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 589 | |||
Goodwill acquired during the period | 0 | |||
Foreign currency translation impact | (7) | |||
Other | (2) | |||
Balance at end of period | 580 | 580 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | |||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 580 | 580 | ||
Bank | Operating Segments | International Wealth Management | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,481 | |||
Goodwill acquired during the period | 9 | |||
Foreign currency translation impact | (30) | |||
Other | (30) | |||
Balance at end of period | 1,430 | 1,430 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | |||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 1,430 | 1,430 | ||
Bank | Operating Segments | Asia Pacific | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 2,025 | |||
Goodwill acquired during the period | 122 | |||
Foreign currency translation impact | (20) | |||
Other | (11) | |||
Balance at end of period | 2,116 | 2,116 | ||
Accumulated impairment | ||||
Balance at beginning of period | 772 | |||
Balance at end of period | 772 | 772 | ||
Net book value | ||||
Net book value | 1,344 | 1,344 | ||
Bank | Operating Segments | Global Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 2,836 | |||
Goodwill acquired during the period | 0 | |||
Foreign currency translation impact | (3) | |||
Other | 0 | |||
Balance at end of period | 2,833 | 2,833 | ||
Accumulated impairment | ||||
Balance at beginning of period | 2,719 | |||
Balance at end of period | 2,719 | 2,719 | ||
Net book value | ||||
Net book value | 114 | 114 | ||
Bank | Operating Segments | Investment Banking & Capital Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 908 | |||
Goodwill acquired during the period | 0 | |||
Foreign currency translation impact | (9) | |||
Other | 0 | |||
Balance at end of period | 899 | 899 | ||
Accumulated impairment | ||||
Balance at beginning of period | 388 | |||
Balance at end of period | 388 | 388 | ||
Net book value | ||||
Net book value | 511 | 511 | ||
Bank | Operating Segments | Strategic Resolution Unit | ||||
Gross amount of goodwill | ||||
Balance at end of period | SFr 12 | SFr 12 |
Other intangible assets (Detail
Other intangible assets (Details 1) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Other intangible assets | |||
Other intangible assets (mortgage servicing rights), at fair value | SFr 209 | SFr 220 | SFr 244 |
Total other intangible assets, net | 273 | SFr 279 | 291 |
Bank | |||
Other intangible assets | |||
Other intangible assets (mortgage servicing rights), at fair value | 209 | 244 | |
Total other intangible assets, net | SFr 273 | SFr 291 |
Other assets and other liabil_3
Other assets and other liabilities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 |
Other assets | ||||
Cash collateral on derivative instruments | SFr 7,488 | SFr 9,526 | SFr 4,570 | |
Cash collateral on non-derivative transactions | 556 | 1,075 | 428 | |
Derivative instruments used for hedging | 173 | 198 | 183 | |
Assets held-for-sale | 7,460 | 9,886 | 8,971 | |
of which loans | 7,406 | 9,821 | 8,886 | |
allowance for loans held-for-sale | (8) | (7) | ||
of which real estate | 29 | 33 | 38 | |
of which long-lived assets | 25 | 32 | 47 | |
Premises, equipment and right-of-use assets | 7,650 | 7,730 | 7,832 | |
Assets held for separate accounts | 106 | 106 | 111 | |
Interest and fees receivable | 4,493 | 5,175 | 4,688 | |
Deferred tax assets | 4,020 | 4,157 | 4,399 | |
Prepaid expenses | 658 | 643 | 431 | |
of which cloud computing arrangement implementation costs | 33 | 30 | 27 | |
Failed purchases | 1,836 | 1,725 | 1,643 | |
Defined benefit pension and post-retirement plan assets | 3,011 | 2,928 | 2,878 | |
Other | 3,695 | 4,132 | 3,475 | |
Other assets | 41,146 | 47,281 | 39,609 | |
Other liabilities | ||||
Cash collateral on derivative instruments | 7,184 | 8,260 | 7,457 | |
Cash collateral on non-derivative transactions | 244 | 1,797 | 516 | |
Derivative instruments used for hedging | 15 | 40 | 48 | |
Operating Lease, Liability | 2,911 | 3,023 | 3,213 | |
Provisions | 1,329 | 1,256 | 1,179 | |
of which off-balance sheet risk | 262 | 253 | 172 | |
Liabilities held for separate accounts | 106 | 106 | 111 | |
Interest and fees payable | 4,993 | 5,537 | 5,101 | |
Current tax liabilities | 573 | 621 | 678 | |
Deferred tax liabilities | 646 | 977 | 523 | |
Failed sales | 920 | 1,145 | 936 | |
Defined benefit pension and post-retirement plan liabilities | 436 | 443 | 455 | |
Other | 9,430 | 8,883 | 10,826 | |
Other liabilities | 28,787 | 32,088 | 31,043 | |
Restricted loans, representing collateral on secured borrowings, included in loans held-for-sale | 278 | 679 | 800 | |
Foreclosed or repossessed real estate | 8 | 8 | 9 | |
Foreclosed or repossessed residential real estate | 8 | SFr 8 | 9 | |
Bank | ||||
Other assets | ||||
Cash collateral on derivative instruments | 7,488 | 4,570 | ||
Cash collateral on non-derivative transactions | 556 | 428 | ||
Derivative instruments used for hedging | 173 | 183 | ||
Assets held-for-sale | 7,460 | 8,971 | ||
of which loans | 7,406 | 8,886 | ||
allowance for loans held-for-sale | (8) | SFr 0 | ||
of which real estate | 29 | 38 | ||
of which long-lived assets | 25 | 47 | ||
Premises, equipment and right-of-use assets | 6,483 | 6,652 | ||
Assets held for separate accounts | 106 | 111 | ||
Interest and fees receivable | 4,589 | 5,301 | ||
Deferred tax assets | 3,959 | 4,337 | ||
Prepaid expenses | 572 | 343 | ||
of which cloud computing arrangement implementation costs | 27 | 21 | ||
Failed purchases | 1,836 | 1,643 | ||
Defined benefit pension and post-retirement plan assets | 987 | 1,067 | ||
Other | 3,702 | 3,463 | ||
Other assets | 37,911 | 37,069 | ||
Other liabilities | ||||
Cash collateral on derivative instruments | 7,184 | 7,457 | ||
Cash collateral on non-derivative transactions | 244 | 516 | ||
Derivative instruments used for hedging | 15 | 48 | ||
Operating Lease, Liability | 2,111 | 2,388 | ||
Provisions | 1,319 | 1,171 | ||
of which off-balance sheet risk | 262 | SFr 172 | ||
Liabilities held for separate accounts | 106 | 111 | ||
Interest and fees payable | 5,128 | 5,690 | ||
Current tax liabilities | 562 | 658 | ||
Deferred tax liabilities | 238 | 167 | ||
Failed sales | 920 | 936 | ||
Defined benefit pension and post-retirement plan liabilities | 436 | 455 | ||
Other | 9,547 | 10,809 | ||
Other liabilities | 27,810 | 30,406 | ||
Restricted loans, representing collateral on secured borrowings, included in loans held-for-sale | 278 | 800 | ||
Foreclosed or repossessed real estate | 8 | 9 | ||
Foreclosed or repossessed residential real estate | SFr 8 | SFr 9 |
Other assets and other liabil_4
Other assets and other liabilities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Right-of-use assets [Abstract] | |||
Premises, equipment and right-of-use assets | SFr 7,650 | SFr 7,730 | SFr 7,832 |
Bank | |||
Right-of-use assets [Abstract] | |||
Premises, equipment and right-of-use assets | SFr 6,483 | SFr 6,652 |
Leases (Details)
Leases (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract] | |||
Lease liabilities | SFr 2,911 | SFr 3,023 | SFr 3,213 |
Bank | |||
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract] | |||
Lease liabilities | SFr 2,111 | SFr 2,388 |
Deposits (Details)
Deposits (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Deposits | |||
of which due to banks | SFr 18,018 | SFr 25,394 | SFr 16,744 |
of which customer deposits | 388,995 | SFr 389,905 | 383,783 |
Bank | |||
Deposits | |||
of which due to banks | 18,018 | 16,742 | |
of which customer deposits | SFr 390,093 | SFr 384,950 |
Long-term debt (Details)
Long-term debt (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Long-term debt | |||
Senior | SFr 128,417 | SFr 104,958 | SFr 108,667 |
Subordinated | 39,206 | 38,087 | 41,667 |
Non-recourse liabilities from consolidated VIEs | 1,803 | 1,878 | 1,671 |
Long-term debt | 169,426 | 144,923 | 152,005 |
of which reported at fair value | 68,798 | 60,360 | 70,331 |
Structured notes | |||
Long-term debt | |||
Long-term debt | 47,398 | SFr 40,171 | 49,435 |
Bank | |||
Long-term debt | |||
Senior | 98,787 | 88,307 | |
Subordinated | 67,964 | 61,022 | |
Non-recourse liabilities from consolidated VIEs | 1,803 | 1,671 | |
Long-term debt | 168,554 | 151,000 | |
of which reported at fair value | 67,959 | 69,406 | |
Bank | Structured notes | |||
Long-term debt | |||
Long-term debt | SFr 47,398 | SFr 49,435 |
Long-term debt - Maturities (De
Long-term debt - Maturities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Long-term debt by maturities | |||
Long-term debt | SFr 169,426 | SFr 144,923 | SFr 152,005 |
Structured notes | |||
Long-term debt by maturities | |||
Long-term debt | 47,398 | 40,171 | 49,435 |
Structured notes | Equity | |||
Long-term debt by maturities | |||
Long-term debt | 29,180 | 24,864 | 31,666 |
Structured notes | Fixed income | |||
Long-term debt by maturities | |||
Long-term debt | 14,295 | 11,590 | 13,558 |
Structured notes | Credit | |||
Long-term debt by maturities | |||
Long-term debt | 3,409 | 3,311 | 3,734 |
Structured notes | Other | |||
Long-term debt by maturities | |||
Long-term debt | 514 | SFr 406 | 477 |
Bank | |||
Long-term debt by maturities | |||
Long-term debt | 168,554 | 151,000 | |
Bank | Structured notes | |||
Long-term debt by maturities | |||
Long-term debt | 47,398 | 49,435 | |
Bank | Structured notes | Equity | |||
Long-term debt by maturities | |||
Long-term debt | 29,180 | 31,666 | |
Bank | Structured notes | Fixed income | |||
Long-term debt by maturities | |||
Long-term debt | 14,295 | 13,558 | |
Bank | Structured notes | Credit | |||
Long-term debt by maturities | |||
Long-term debt | 3,409 | 3,734 | |
Bank | Structured notes | Other | |||
Long-term debt by maturities | |||
Long-term debt | SFr 514 | SFr 477 |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | SFr (16,252) | SFr (20,269) | SFr (20,269) | ||
Balance at end of period | (19,304) | (16,252) | (19,304) | ||
Gains/(losses) on cash flow hedges | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 253 | 28 | SFr (26) | 28 | SFr (72) |
Increase/(decrease) | 13 | 155 | 45 | 168 | 92 |
Increase/(decrease) due to equity method investments | (3) | (7) | |||
Reclassification adjustments, included in net income | 5 | 70 | 1 | 75 | 4 |
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | 18 | 225 | 43 | 243 | 89 |
Balance at end of period | 271 | 253 | 17 | 271 | 17 |
Cumulative translation adjustments | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (15,064) | (14,469) | (13,245) | (14,469) | (13,442) |
Increase/(decrease) | (450) | (595) | (589) | (1,045) | (394) |
Increase/(decrease) due to equity method investments | 0 | 0 | |||
Reclassification adjustments, included in net income | 17 | 0 | 0 | 17 | 2 |
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | (433) | (595) | (589) | (1,028) | (392) |
Balance at end of period | (15,497) | (15,064) | (13,834) | (15,497) | (13,834) |
Unrealized gains/(losses) on securities | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 28 | 30 | 24 | 30 | 10 |
Increase/(decrease) | (47) | (5) | 12 | (52) | 26 |
Increase/(decrease) due to equity method investments | 0 | 0 | |||
Reclassification adjustments, included in net income | 29 | 3 | 0 | 32 | 0 |
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | (18) | (2) | 12 | (20) | 26 |
Balance at end of period | 10 | 28 | 36 | 10 | 36 |
Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (3,617) | (3,690) | (3,956) | (3,690) | (3,974) |
Increase/(decrease) | 0 | 0 | 323 | 0 | 323 |
Increase/(decrease) due to equity method investments | 0 | 0 | |||
Reclassification adjustments, included in net income | 73 | 73 | 63 | 146 | 123 |
Cumulative effect of accounting changes, net of tax | (42) | ||||
Total increase/(decrease) | 73 | 73 | 386 | 146 | 404 |
Balance at end of period | (3,544) | (3,617) | (3,570) | (3,544) | (3,570) |
Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 570 | 604 | 363 | 604 | 387 |
Increase/(decrease) | 0 | 0 | 338 | 0 | 338 |
Increase/(decrease) due to equity method investments | 0 | 0 | |||
Reclassification adjustments, included in net income | (34) | (34) | (32) | (68) | (56) |
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | (34) | (34) | 306 | (68) | 282 |
Balance at end of period | 536 | 570 | 669 | 536 | 669 |
Accumulated Gains (Losses) On Liabilities Related To Credit Risk | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 1,578 | (2,772) | (2,033) | (2,772) | (890) |
Increase/(decrease) | (2,680) | 4,273 | (312) | 1,593 | (1,463) |
Increase/(decrease) due to equity method investments | 0 | 0 | |||
Reclassification adjustments, included in net income | 22 | 77 | 81 | 99 | 111 |
Cumulative effect of accounting changes, net of tax | (22) | ||||
Total increase/(decrease) | (2,658) | 4,350 | (231) | 1,692 | (1,374) |
Balance at end of period | (1,080) | 1,578 | (2,264) | (1,080) | (2,264) |
Accumulated other comprehensive income | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (16,252) | (20,269) | (18,873) | (20,269) | (17,981) |
Increase/(decrease) | (3,164) | 3,828 | (183) | 664 | (1,078) |
Increase/(decrease) due to equity method investments | (3) | (7) | |||
Reclassification adjustments, included in net income | 112 | 189 | 113 | 301 | 184 |
Cumulative effect of accounting changes, net of tax | (64) | ||||
Total increase/(decrease) | (3,052) | 4,017 | (73) | 965 | (965) |
Balance at end of period | (19,304) | (16,252) | (18,946) | (19,304) | (18,946) |
Bank | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (17,546) | (17,546) | |||
Balance at end of period | (16,700) | (16,700) | |||
Bank | Gains/(losses) on cash flow hedges | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 28 | 28 | (58) | ||
Increase/(decrease) | 168 | 93 | |||
Reclassification adjustments, included in net income | 75 | 0 | |||
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | 243 | 93 | |||
Balance at end of period | 271 | 35 | 271 | 35 | |
Bank | Cumulative translation adjustments | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (14,560) | (14,560) | (13,573) | ||
Increase/(decrease) | (1,015) | (384) | |||
Reclassification adjustments, included in net income | 17 | 0 | |||
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | (998) | (384) | |||
Balance at end of period | (15,558) | (13,957) | (15,558) | (13,957) | |
Bank | Unrealized gains/(losses) on securities | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 30 | 30 | 9 | ||
Increase/(decrease) | (52) | 27 | |||
Reclassification adjustments, included in net income | 32 | 0 | |||
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | (20) | 27 | |||
Balance at end of period | 10 | 36 | 10 | 36 | |
Bank | Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (417) | (417) | (350) | ||
Increase/(decrease) | 0 | 0 | |||
Reclassification adjustments, included in net income | 7 | 8 | |||
Cumulative effect of accounting changes, net of tax | (42) | ||||
Total increase/(decrease) | 7 | (34) | |||
Balance at end of period | (410) | (384) | (410) | (384) | |
Bank | Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (7) | (7) | (8) | ||
Increase/(decrease) | 0 | 0 | |||
Reclassification adjustments, included in net income | 0 | 0 | |||
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | 0 | 0 | |||
Balance at end of period | (7) | (8) | (7) | (8) | |
Bank | Accumulated Gains (Losses) On Liabilities Related To Credit Risk | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (2,620) | (2,620) | (860) | ||
Increase/(decrease) | 1,515 | (1,349) | |||
Reclassification adjustments, included in net income | 99 | 111 | |||
Cumulative effect of accounting changes, net of tax | (22) | ||||
Total increase/(decrease) | 1,614 | (1,260) | |||
Balance at end of period | (1,006) | (2,120) | (1,006) | (2,120) | |
Bank | Accumulated other comprehensive income | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | SFr (17,546) | (17,546) | (14,840) | ||
Increase/(decrease) | 616 | (1,613) | |||
Reclassification adjustments, included in net income | 230 | 119 | |||
Cumulative effect of accounting changes, net of tax | (64) | ||||
Total increase/(decrease) | 846 | (1,558) | |||
Balance at end of period | SFr (16,700) | SFr (16,398) | SFr (16,700) | SFr (16,398) |
AOCI - Additional share informa
AOCI - Additional share information (Details 2) - SFr / shares | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |||||
Common shares issued | ||||||||||
Common Stock, Shares, Issued, Beginning Balance | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | |||||
Common Stock, Shares, Issued, Ending Balance | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | |||||
Treasury shares | ||||||||||
Treasury Stock, Shares, Beginning Balance | 156,996,084 | 119,761,811 | 48,217,358 | 119,761,811 | 5,427,691 | |||||
Sale of treasury shares | 170,488,741 | 239,476,586 | 153,739,570 | 409,965,327 | 392,245,695 | |||||
Repurchase of treasury shares | 172,555,047 | 280,063,390 | 190,464,698 | 452,618,437 | 473,434,435 | |||||
Share-based compensation, net of tax | 44,650,431 | 3,352,531 | 36,705,356 | 48,002,962 | 38,379,301 | |||||
Treasury Stock, Shares, Ending Balance | 114,411,959 | 156,996,084 | 48,237,130 | 114,411,959 | 48,237,130 | |||||
Common shares outstanding | 2,441,599,761 | [1] | 2,399,015,636 | [1] | 2,507,774,590 | 2,441,599,761 | [1] | 2,507,774,590 | 2,436,249,909 | |
Par value (in CHF per share) | SFr 0.04 | SFr 0.04 | SFr 0.04 | SFr 0.04 | SFr 0.04 | SFr 0.04 | ||||
Authorized shares (in shares) | [2] | 3,209,011,720 | 3,209,011,720 | 3,209,011,720 | 3,209,011,720 | |||||
Unissued shares (in shares) | 653,000,000 | 653,000,000 | 653,000,000 | 653,000,000 | 653,000,000 | |||||
Capital Instrument Reserved | ||||||||||
Treasury shares | ||||||||||
Unissued shares (in shares) | 111,193,477 | 111,193,477 | 111,193,477 | 111,193,477 | 111,193,477 | |||||
Bank | ||||||||||
Common shares issued | ||||||||||
Common Stock, Shares, Issued, Beginning Balance | [3] | 4,399,680,200 | 4,399,680,200 | |||||||
Common Stock, Shares, Issued, Ending Balance | [3] | 4,399,680,200 | 4,399,680,200 | |||||||
Treasury shares | ||||||||||
Common shares outstanding | [3] | 4,399,680,200 | 4,399,680,200 | 4,399,680,200 | ||||||
Par value (in CHF per share) | [3] | SFr 1 | SFr 1 | SFr 1 | ||||||
[1] | At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,193,477 of these shares were reserved for capital instruments. | |||||||||
[2] | Includes issued shares and unissued shares (conditional, conversion and authorized capital). | |||||||||
[3] | The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2020. Each share is entitled to one vote. The Bank has no warrants on its own shares outstanding. |
AOCI - Significant reclassifica
AOCI - Significant reclassification adjustments (Details 3) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Reclassification adjustments, included in net income | |||||
Income tax expense/(benefit) | SFr 391 | SFr (110) | SFr 365 | SFr 281 | SFr 678 |
Gains/(losses) on cash flow hedges | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 5 | 70 | 1 | 75 | 4 |
Cumulative translation adjustments | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 17 | 0 | 0 | 17 | 2 |
Unrealized gains/(losses) on securities | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 29 | 3 | 0 | 32 | 0 |
Accumulated other comprehensive income | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 112 | 189 | 113 | 301 | 184 |
Net prior service credit/ (cost) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (34) | (34) | (32) | (68) | (56) |
Net prior service credit/ (cost) | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income, before tax | (41) | (42) | (41) | (83) | (71) |
Income tax expense/(benefit) | 7 | 8 | 9 | 15 | 15 |
Actuarial gains/(losses) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 73 | 73 | 63 | 146 | 123 |
Actuarial gains/(losses) | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income, before tax | 89 | 90 | 80 | 179 | 156 |
Income tax expense/(benefit) | (16) | SFr (17) | (17) | (33) | (33) |
Bank | |||||
Reclassification adjustments, included in net income | |||||
Income tax expense/(benefit) | SFr 370 | SFr 339 | 244 | 701 | |
Bank | Gains/(losses) on cash flow hedges | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 75 | 0 | |||
Bank | Cumulative translation adjustments | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 17 | 0 | |||
Bank | Unrealized gains/(losses) on securities | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 32 | 0 | |||
Bank | Accumulated other comprehensive income | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 230 | 119 | |||
Bank | Net prior service credit/ (cost) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 0 | |||
Bank | Actuarial gains/(losses) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 7 | 8 | |||
Bank | Actuarial gains/(losses) | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income, before tax | 7 | 10 | |||
Income tax expense/(benefit) | SFr 0 | SFr (2) |
Offsetting of financial asset_3
Offsetting of financial assets (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 139,000 | SFr 111,400 | |
Offsetting | (122,200) | (97,900) | |
of which counterparty netting | (103,700) | (83,200) | |
of which cash collateral netting | (18,500) | (14,700) | |
Total net derivatives subject to enforceable master netting agreements | 16,800 | 13,500 | |
Total derivatives not subject to enforceable master netting agreements | 9,200 | 4,400 | |
Total net derivatives presented in the consolidated balance sheets | 26,000 | 17,900 | |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | |||
Securities purchased under resale agreements, gross | 79,400 | 80,600 | |
Securities purchased under resale agreements, offsetting | (11,900) | (10,900) | |
Securities purchased under resale agreements, net | 67,500 | 69,700 | |
Securities borrowing transactions, gross | 14,900 | 12,300 | |
Securities borrowing transactions, offsetting | (200) | (500) | |
Securities borrowing transactions, net | 14,700 | 11,800 | |
Total subject to enforceable master netting agreements, gross | 94,300 | 92,900 | |
Total subject to enforceable master netting agreements, offsetting | (12,100) | (11,400) | |
Total subject to enforceable master netting agreements, net | 82,200 | 81,500 | |
Total not subject to enforceable master netting agreements | 22,700 | 25,500 | |
Total, gross | 117,000 | 118,400 | |
Total, net | 104,900 | 107,000 | |
of which reported at fair value | 78,448 | SFr 88,511 | 85,556 |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 16,800 | 13,500 | |
Derivatives, financial instruments | 5,600 | 4,400 | |
Derivatives, cash collateral received/pledged | 100 | 0 | |
Derivatives, net exposure | 11,100 | 9,100 | |
Securities purchased under resale agreements, net | 67,500 | 69,700 | |
Securities purchased under resale agreements, financial instruments | 67,500 | 69,700 | |
Securities purchased under resale agreements, cash collateral received/pledged | 0 | 0 | |
Securities purchased under resale agreements, net exposure | 0 | 0 | |
Securities borrowing transactions, net | 14,700 | 11,800 | |
Securities borrowing transactions, financial instruments | 14,300 | 11,200 | |
Securities borrowing transactions, cash collateral received/pledged | 0 | 0 | |
Securities borrowing transactions, net exposure | 400 | 600 | |
Total financial assets subject to enforceable master netting agreements, net | 99,000 | 95,000 | |
Total financial assets subject to enforceable master netting agreements, financial instruments | 87,400 | 85,300 | |
Total financial assets subject to enforceable master netting agreements, cash collateral received/pledged | 100 | 0 | |
Total financial assets subject to enforceable master netting agreements, net exposure | 11,500 | 9,700 | |
Trading assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 25,800 | 17,700 | |
Other assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 200 | 200 | |
OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 7,500 | 6,700 | |
Offsetting | (6,700) | (6,000) | |
Total net derivatives subject to enforceable master netting agreements | 800 | 700 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 800 | 700 | |
OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 121,900 | 99,100 | |
Offsetting | (106,500) | (87,000) | |
Total net derivatives subject to enforceable master netting agreements | 15,400 | 12,100 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 15,400 | 12,100 | |
Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 9,600 | 5,600 | |
Offsetting | (9,000) | (4,900) | |
Total net derivatives subject to enforceable master netting agreements | 600 | 700 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 600 | 700 | |
Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 87,100 | 67,800 | |
Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 6,600 | 3,800 | |
Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 80,000 | 63,700 | |
Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 500 | 300 | |
Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 24,200 | 21,100 | |
Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 200 | 100 | |
Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 24,000 | 21,000 | |
Foreign exchange derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 0 | 0 | |
Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 20,000 | 15,400 | |
Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 11,000 | 10,100 | |
Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 9,000 | 5,300 | |
Credit derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 5,700 | 5,900 | |
Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 700 | 2,800 | |
Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 5,000 | 3,100 | |
Other products | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 2,000 | 1,200 | |
Other products | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,900 | 1,200 | |
Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 100 | 0 | |
Bank | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 139,000 | 111,400 | |
Offsetting | (122,200) | (97,900) | |
of which counterparty netting | (103,600) | (83,200) | |
of which cash collateral netting | (18,600) | (14,700) | |
Total net derivatives subject to enforceable master netting agreements | 16,800 | 13,500 | |
Total derivatives not subject to enforceable master netting agreements | 9,200 | 4,400 | |
Total net derivatives presented in the consolidated balance sheets | 26,000 | 17,900 | |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | |||
Securities purchased under resale agreements, gross | 79,400 | 80,600 | |
Securities purchased under resale agreements, offsetting | (11,900) | (10,900) | |
Securities purchased under resale agreements, net | 67,500 | 69,700 | |
Securities borrowing transactions, gross | 14,900 | 12,300 | |
Securities borrowing transactions, offsetting | (200) | (500) | |
Securities borrowing transactions, net | 14,700 | 11,800 | |
Total subject to enforceable master netting agreements, gross | 94,300 | 92,900 | |
Total subject to enforceable master netting agreements, offsetting | (12,100) | (11,400) | |
Total subject to enforceable master netting agreements, net | 82,200 | 81,500 | |
Total not subject to enforceable master netting agreements | 22,700 | 25,500 | |
Total, gross | 117,000 | 118,400 | |
Total, net | 104,900 | 107,000 | |
of which reported at fair value | 78,448 | 85,556 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 16,800 | 13,500 | |
Derivatives, financial instruments | 5,600 | 4,400 | |
Derivatives, cash collateral received/pledged | 100 | 0 | |
Derivatives, net exposure | 11,100 | 9,100 | |
Securities purchased under resale agreements, net | 67,500 | 69,700 | |
Securities purchased under resale agreements, financial instruments | 67,500 | 69,700 | |
Securities purchased under resale agreements, cash collateral received/pledged | 0 | 0 | |
Securities purchased under resale agreements, net exposure | 0 | 0 | |
Securities borrowing transactions, net | 14,700 | 11,800 | |
Securities borrowing transactions, financial instruments | 14,300 | 11,200 | |
Securities borrowing transactions, cash collateral received/pledged | 0 | 0 | |
Securities borrowing transactions, net exposure | 400 | 600 | |
Total financial assets subject to enforceable master netting agreements, net | 99,000 | 95,000 | |
Total financial assets subject to enforceable master netting agreements, financial instruments | 87,400 | 85,300 | |
Total financial assets subject to enforceable master netting agreements, cash collateral received/pledged | 100 | 0 | |
Total financial assets subject to enforceable master netting agreements, net exposure | 11,500 | 9,700 | |
Bank | Trading assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 25,800 | 17,700 | |
Bank | Other assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 200 | 200 | |
Bank | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 7,500 | 6,800 | |
Offsetting | (6,700) | (6,000) | |
Total net derivatives subject to enforceable master netting agreements | 800 | 800 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 800 | 800 | |
Bank | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 121,900 | 99,000 | |
Offsetting | (106,500) | (87,000) | |
Total net derivatives subject to enforceable master netting agreements | 15,400 | 12,000 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 15,400 | 12,000 | |
Bank | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 9,600 | 5,600 | |
Offsetting | (9,000) | (4,900) | |
Total net derivatives subject to enforceable master netting agreements | 600 | 700 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 600 | 700 | |
Bank | Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 87,100 | 67,800 | |
Bank | Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 6,600 | 3,900 | |
Bank | Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 80,000 | 63,600 | |
Bank | Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 500 | 300 | |
Bank | Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 24,200 | 21,100 | |
Bank | Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 200 | 100 | |
Bank | Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 24,000 | 21,000 | |
Bank | Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 20,000 | 15,400 | |
Bank | Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 11,000 | 10,100 | |
Bank | Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 9,000 | 5,300 | |
Bank | Credit derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 5,700 | 5,900 | |
Bank | Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 700 | 2,800 | |
Bank | Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 5,000 | 3,100 | |
Bank | Other products | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 2,000 | 1,200 | |
Bank | Other products | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,900 | 1,200 | |
Bank | Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 100 | SFr 0 |
Offsetting of financial liabili
Offsetting of financial liabilities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 140,400 | SFr 113,600 | |
Offsetting | (129,700) | (103,800) | |
of which counterparty netting | (103,700) | (83,200) | |
of which cash collateral netting | (26,000) | (20,600) | |
Total net derivatives subject to enforceable master netting agreements | 10,700 | 9,800 | |
Total derivatives not subject to enforceable master netting agreements | 4,700 | 3,700 | |
Total net derivatives presented in the consolidated balance sheets | 15,400 | 13,500 | |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Securities sold under repurchase agreements, gross | 33,300 | 28,000 | |
Securities sold under repurchase agreements, offsetting | (12,100) | (11,400) | |
Securities sold under repurchase agreements, net | 21,200 | 16,600 | |
Securities lending transactions, gross | 4,900 | 5,500 | |
Securities lending transactions, offsetting | 0 | 0 | |
Securities lending transactions, net | 4,900 | 5,500 | |
Obligation to return securities received as collateral, at fair value, gross | 41,400 | 39,000 | |
Obligation to return securities received as collateral, at fair value, offsetting | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net | 41,400 | 39,000 | |
Total subject to enforceable master netting agreements, gross | 79,600 | 72,500 | |
Total subject to enforceable master netting agreements, offsetting | (12,100) | (11,400) | |
Total subject to enforceable master netting agreements, net | 67,500 | 61,100 | |
Total not subject to enforceable master netting agreements | 5,600 | 2,000 | |
Total, gross | 85,200 | 74,500 | |
Total, net | 73,100 | 63,100 | |
of which reported at fair value | 17,379 | SFr 24,271 | 10,715 |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 10,700 | 9,800 | |
Derivatives, financial instruments | 2,100 | 1,700 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 8,600 | 8,100 | |
Securities sold under repurchase agreements, net | 21,200 | 16,600 | |
Securities sold under repurchase agreements, financial instruments | 21,200 | 16,600 | |
Securities sold under repurchase agreements, cash collateral received/pledged | 0 | 0 | |
Securities sold under repurchase agreements, net exposure | 0 | 0 | |
Securities lending transactions, net | 4,900 | 5,500 | |
Securities lending transactions, financial instruments | 4,400 | 4,500 | |
Securities lending transactions, cash collateral received/pledged | 0 | 0 | |
Securities lending transactions, net exposure | 500 | 1,000 | |
Obligation to return securities received as collateral, at fair value, net | 41,400 | 39,000 | |
Obligation to return securities received as collateral, financial instruments | 35,300 | 33,000 | |
Obligation to return securities received as collateral, cash collateral received/pledged | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net exposure | 6,100 | 6,000 | |
Total financial liabilities subject to enforceable master netting agreements, net | 78,200 | 70,900 | |
Total financial liabilities subject to enforceable master netting agreements, financial instruments | 63,000 | 55,800 | |
Total financial liabilities subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 0 | |
Total financial liabilities subject to enforceable master netting agreements, net exposure | 15,200 | 15,100 | |
Trading liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 15,400 | 13,500 | |
Other liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 0 | 0 | |
Securities sold under repurchase agreements and securities | |||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Total subject to enforceable master netting agreements, offsetting | (12,100) | (11,400) | |
Total, gross | 42,700 | 34,300 | |
Total, net | 30,600 | 22,900 | |
Obligation to return securities received as collateral | |||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Total subject to enforceable master netting agreements, offsetting | 0 | 0 | |
Total, gross | 42,500 | 40,200 | |
Total, net | 42,500 | 40,200 | |
OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 6,300 | 6,200 | |
Offsetting | (5,800) | (5,300) | |
Total net derivatives subject to enforceable master netting agreements | 500 | 900 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 500 | 900 | |
OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 123,800 | 102,200 | |
Offsetting | (114,900) | (93,600) | |
Total net derivatives subject to enforceable master netting agreements | 8,900 | 8,600 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 8,900 | 8,600 | |
Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 10,300 | 5,200 | |
Offsetting | (9,000) | (4,900) | |
Total net derivatives subject to enforceable master netting agreements | 1,300 | 300 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,300 | 300 | |
Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 84,100 | 65,100 | |
Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 5,400 | 3,000 | |
Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 78,200 | 61,900 | |
Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 500 | 200 | |
Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 27,200 | 25,600 | |
Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 300 | 200 | |
Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 26,900 | 25,400 | |
Foreign exchange derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 0 | 0 | |
Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 21,600 | 15,400 | |
Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 11,900 | 10,400 | |
Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 9,700 | 5,000 | |
Credit derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 6,400 | 7,000 | |
Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 600 | 3,000 | |
Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 5,800 | 4,000 | |
Other products | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 1,100 | 500 | |
Other products | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 1,000 | 500 | |
Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 100 | 0 | |
Bank | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 140,400 | 113,600 | |
Offsetting | (129,700) | (103,800) | |
of which counterparty netting | (103,600) | (83,200) | |
of which cash collateral netting | (26,100) | (20,600) | |
Total net derivatives subject to enforceable master netting agreements | 10,700 | 9,800 | |
Total derivatives not subject to enforceable master netting agreements | 4,700 | 3,700 | |
Total net derivatives presented in the consolidated balance sheets | 15,400 | 13,500 | |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Securities sold under repurchase agreements, gross | 33,400 | 28,100 | |
Securities sold under repurchase agreements, offsetting | (12,100) | (11,400) | |
Securities sold under repurchase agreements, net | 21,300 | 16,700 | |
Securities lending transactions, gross | 4,900 | 5,500 | |
Securities lending transactions, offsetting | 0 | 0 | |
Securities lending transactions, net | 4,900 | 5,500 | |
Obligation to return securities received as collateral, at fair value, gross | 41,400 | 39,000 | |
Obligation to return securities received as collateral, at fair value, offsetting | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net | 41,400 | 39,000 | |
Total subject to enforceable master netting agreements, gross | 79,700 | 72,600 | |
Total subject to enforceable master netting agreements, offsetting | (12,100) | (11,400) | |
Total subject to enforceable master netting agreements, net | 67,600 | 61,200 | |
Total not subject to enforceable master netting agreements | 5,600 | 2,000 | |
Total, gross | 85,300 | 74,600 | |
Total, net | 73,200 | 63,200 | |
of which reported at fair value | 17,473 | 10,823 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 10,700 | 9,800 | |
Derivatives, financial instruments | 2,100 | 1,700 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 8,600 | 8,100 | |
Securities sold under repurchase agreements, net | 21,300 | 16,700 | |
Securities sold under repurchase agreements, financial instruments | 21,300 | 16,700 | |
Securities sold under repurchase agreements, cash collateral received/pledged | 0 | 0 | |
Securities sold under repurchase agreements, net exposure | 0 | 0 | |
Securities lending transactions, net | 4,900 | 5,500 | |
Securities lending transactions, financial instruments | 4,400 | 4,500 | |
Securities lending transactions, cash collateral received/pledged | 0 | 0 | |
Securities lending transactions, net exposure | 500 | 1,000 | |
Obligation to return securities received as collateral, at fair value, net | 41,400 | 39,000 | |
Obligation to return securities received as collateral, financial instruments | 35,300 | 33,000 | |
Obligation to return securities received as collateral, cash collateral received/pledged | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net exposure | 6,100 | 6,000 | |
Total financial liabilities subject to enforceable master netting agreements, net | 78,300 | 71,000 | |
Total financial liabilities subject to enforceable master netting agreements, financial instruments | 63,100 | 55,900 | |
Total financial liabilities subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 0 | |
Total financial liabilities subject to enforceable master netting agreements, net exposure | 15,200 | 15,100 | |
Bank | Trading liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 15,400 | 13,500 | |
Bank | Other liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 0 | 0 | |
Bank | Securities sold under repurchase agreements and securities | |||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Total subject to enforceable master netting agreements, offsetting | (12,100) | (11,400) | |
Total, gross | 42,800 | 34,400 | |
Total, net | 30,700 | 23,000 | |
Bank | Obligation to return securities received as collateral | |||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Total subject to enforceable master netting agreements, offsetting | 0 | 0 | |
Total, gross | 42,500 | 40,200 | |
Total, net | 42,500 | 40,200 | |
Bank | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 6,300 | 6,200 | |
Offsetting | (5,800) | (5,300) | |
Total net derivatives subject to enforceable master netting agreements | 500 | 900 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 500 | 900 | |
Bank | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 123,800 | 102,200 | |
Offsetting | (114,900) | (93,600) | |
Total net derivatives subject to enforceable master netting agreements | 8,900 | 8,600 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 8,900 | 8,600 | |
Bank | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 10,300 | 5,200 | |
Offsetting | (9,000) | (4,900) | |
Total net derivatives subject to enforceable master netting agreements | 1,300 | 300 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,300 | 300 | |
Bank | Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 84,200 | 65,100 | |
Bank | Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 5,400 | 3,000 | |
Bank | Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 78,300 | 61,900 | |
Bank | Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 500 | 200 | |
Bank | Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 27,100 | 25,600 | |
Bank | Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 300 | 200 | |
Bank | Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 26,800 | 25,400 | |
Bank | Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 21,600 | 15,400 | |
Bank | Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 11,900 | 10,400 | |
Bank | Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 9,700 | 5,000 | |
Bank | Credit derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 6,400 | 7,000 | |
Bank | Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 600 | 3,000 | |
Bank | Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 5,800 | 4,000 | |
Bank | Other products | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 1,100 | 500 | |
Bank | Other products | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 1,000 | 500 | |
Bank | Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 100 | SFr 0 |
Tax - Income statement related_
Tax - Income statement related/reconciliation of tax rate (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Income from continuing operations before taxes (CHF) | ||||||
Income/(loss) before taxes | SFr 1,551 | SFr 1,201 | SFr 1,302 | SFr 2,752 | SFr 2,364 | |
Current and deferred taxes | ||||||
Deferred income tax expense | 134 | 212 | ||||
Income tax expense | 391 | (110) | 365 | 281 | 678 | |
Reconciliation of taxes computed at the Swiss statutory rate | ||||||
Income tax expense computed at the statutory tax rate of 22% | SFr 310 | |||||
Swiss statutory rate (as a percent) | 20.00% | |||||
Increase/(decrease) in income taxes resulting from: | ||||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | SFr 7 | |||||
Other non-deductible expenses | 45 | |||||
of which non-deductible interest expenses | 45 | |||||
Lower taxed income | (46) | |||||
of which tax benefit in respect to non-taxable dividend income | 13 | |||||
of which tax benefit related non-taxable life insurance income | 12 | |||||
of which investment revaluation (gains)/losses | (14) | |||||
Changes in deferred tax valuation allowance | (22) | |||||
(Windfall tax benefits)/shortfall tax charges on share-based compensation | 66 | |||||
Other | 31 | |||||
of which tax expense relating to non-recoverable foreign and withholding taxes | 24 | |||||
of which tax (benefit)/charge from the impact of prior year adjustments | (5) | |||||
of which tax impact of transitional adjustments arising from adoption of new accounting standards | 18 | |||||
of which non-deductible fines and penalties | 21 | |||||
Income tax expense | 391 | SFr (110) | 365 | 281 | 678 | |
Switzerland | ||||||
Increase/(decrease) in income taxes resulting from: | ||||||
of which tax benefit relating to the re-assessment of deferred tax assets in Switzerland changes in forecasted future profitability | 25 | |||||
US and UK | ||||||
Increase/(decrease) in income taxes resulting from: | ||||||
Changes in deferred tax valuation allowance | (22) | |||||
Bank | ||||||
Income from continuing operations before taxes (CHF) | ||||||
Income/(loss) before taxes | 1,489 | 1,270 | 2,582 | 2,261 | ||
Current and deferred taxes | ||||||
Deferred income tax expense | 110 | 241 | ||||
Income tax expense | 370 | 339 | 244 | 701 | ||
Reconciliation of taxes computed at the Swiss statutory rate | ||||||
Income tax expense computed at the statutory tax rate of 22% | SFr 516 | |||||
Swiss statutory rate (as a percent) | 20.00% | |||||
Increase/(decrease) in income taxes resulting from: | ||||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | SFr 4 | |||||
Other non-deductible expenses | 23 | |||||
of which non-deductible interest expenses | (11) | |||||
of which non-deductible other expenses | 33 | |||||
of which contingency accrual relating to non-deductible interest expense | (157) | |||||
Lower taxed income | (84) | |||||
of which tax benefit related non-taxable life insurance income | (31) | |||||
of which exempt income | (5) | |||||
of which investment revaluation (gains)/losses | 26 | |||||
Changes in deferred tax valuation allowance | (12) | |||||
(Windfall tax benefits)/shortfall tax charges on share-based compensation | 70 | |||||
Other | (273) | |||||
of which tax benefit relating to the re-assessment of deferred tax assets in Switzerland changes in forecasted future profitability | SFr (141) | |||||
of which tax expense relating to non-recoverable foreign and withholding taxes | 38 | |||||
of which tax (benefit)/charge from the impact of prior year adjustments | 21 | |||||
of which tax impact of transitional adjustments arising from adoption of new accounting standards | 44 | |||||
of which tax impact of the US Base Erosion and Anti-abuse Tax (BEAT) | 9 | (180) | ||||
of which tax impact of the reversalof previously unrecognized tax benefits | 21 | |||||
Income tax expense | SFr 370 | SFr 339 | 244 | SFr 701 | ||
Bank | Switzerland | ||||||
Increase/(decrease) in income taxes resulting from: | ||||||
of which tax benefit in respect to non-taxable dividend income | (22) | |||||
of which tax benefit relating to the re-assessment of deferred tax assets in Switzerland changes in forecasted future profitability | (68) | |||||
Bank | UK | ||||||
Increase/(decrease) in income taxes resulting from: | ||||||
Changes in deferred tax valuation allowance | (17) | |||||
Bank | US and UK | ||||||
Increase/(decrease) in income taxes resulting from: | ||||||
Changes in deferred tax valuation allowance | SFr 5 |
Tax - Balance sheet related (De
Tax - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Tax effect of temporary differences | |||
Net operating loss carry-forwards, after allocation of valuation allowances | SFr 1,445 | SFr 1,505 | |
Net deferred tax assets | 3,374 | SFr 3,180 | |
Bank | |||
Tax effect of temporary differences | |||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,410 | SFr 1,437 | |
Net deferred tax assets | SFr 3,721 | SFr 4,170 |
Tax - Net deferred tax assets_l
Tax - Net deferred tax assets/liabilities by type (Details 3) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Net deferred tax assets | ||||||
Deferred tax assets | SFr 4,020 | SFr 4,157 | SFr 4,020 | SFr 4,399 | ||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,445 | 1,505 | 1,445 | |||
Temporary differences | 2,575 | 2,652 | 2,575 | |||
Deferred tax liabilities | 646 | 977 | 646 | 523 | ||
Deferred Tax Assets (Liabilities), Net | 3,374 | SFr 3,180 | 3,374 | |||
Accumulated undistributed earnings from foreign subsidiaries | SFr 16,500 | SFr 16,500 | ||||
Effective tax rate | ||||||
Effective tax rate (as a percent) | 25.20% | (9.20%) | 28.00% | 10.20% | 28.70% | |
Minimum | ||||||
Net deferred tax assets | ||||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | SFr 0 | SFr 0 | ||||
Maximum | ||||||
Net deferred tax assets | ||||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | 39 | 39 | ||||
Bank | ||||||
Net deferred tax assets | ||||||
Deferred tax assets | 3,959 | 3,959 | 4,337 | |||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,410 | 1,410 | 1,437 | |||
Temporary differences | 2,549 | 2,549 | 2,900 | |||
Deferred tax liabilities | 238 | 238 | 167 | |||
Deferred Tax Assets (Liabilities), Net | 3,721 | 3,721 | SFr 4,170 | |||
Accumulated undistributed earnings from foreign subsidiaries | 15,900 | SFr 15,900 | ||||
Effective tax rate | ||||||
Effective tax rate (as a percent) | 9.50% | 31.00% | ||||
Bank | Minimum | ||||||
Net deferred tax assets | ||||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | 0 | SFr 0 | ||||
Bank | Maximum | ||||||
Net deferred tax assets | ||||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | SFr 39 | SFr 39 |
Deferred compensation expense (
Deferred compensation expense (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 512 | SFr 273 | SFr 452 | SFr 785 | SFr 882 |
Deferred cash awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 138 | 10 | 96 | 148 | 186 |
Retention Awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 10 | 9 | 3 | 19 | 8 |
Contingent Capital Awards (CCA) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 100 | (14) | 83 | 86 | 160 |
Performance shares | Performance share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 120 | 113 | 122 | 233 | 230 |
Stock compensation plan | Share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 144 | SFr 155 | SFr 148 | 299 | 298 |
Bank | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 754 | 846 | |||
Bank | Deferred cash awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 143 | 168 | |||
Bank | Retention Awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 19 | 8 | |||
Bank | Contingent Capital Awards (CCA) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 83 | 156 | |||
Bank | Performance shares | Performance share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 220 | 223 | |||
Bank | Stock compensation plan | Share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 289 | SFr 291 |
Estimated unrecognized deferred
Estimated unrecognized deferred compensation (Details 2) SFr in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2020CHF (SFr) | Jun. 30, 2020CHF (SFr) | |
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 1,931 | SFr 1,931 |
Aggregate remaining weighted-average requisite service period (years) | ||
Aggregate remaining requisite service period (in years) | 1 year 2 months 12 days | |
Deferred cash awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 398 | 398 |
Retention Awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 45 | 45 |
Contingent Capital Awards (CCA) | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 289 | 289 |
Performance shares | Performance share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 443 | 443 |
Stock compensation plan | Share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 756 | 756 |
Bank | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 1,857 | SFr 1,857 |
Aggregate remaining weighted-average requisite service period (years) | ||
Aggregate remaining requisite service period (in years) | 1 year 2 months 12 days | |
Bank | Deferred cash awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 377 | SFr 377 |
Bank | Retention Awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 45 | 45 |
Bank | Contingent Capital Awards (CCA) | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 277 | 277 |
Bank | Performance shares | Performance share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 424 | 424 |
Bank | Stock compensation plan | Share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 734 | SFr 734 |
Share-based awards (Details 3)
Share-based awards (Details 3) - CHF (SFr) SFr / shares in Units, shares in Millions, SFr in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2020 | Jun. 30, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 1,931 | SFr 1,931 | |
Performance shares | Performance share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 443 | SFr 443 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | 122.1 | 72.4 | |
Granted (in shares) | 0 | 50.9 | |
Settled (in shares) | (25.6) | (26.8) | |
Forfeited (in shares) | (0.5) | (0.5) | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 96 | 96 | |
of which vested (in shares) | 8.7 | 8.7 | 8.7 |
of which unvested (in shares) | 87.3 | 87.3 | 87.3 |
Stock compensation plan | Share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 756 | SFr 756 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | 166.3 | 110.5 | |
Granted (in shares) | 6.7 | 68.2 | |
Settled (in shares) | (40.4) | (45.2) | |
Forfeited (in shares) | (1) | (1.9) | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 131.6 | 131.6 | |
of which vested (in shares) | 10.4 | 10.4 | 10.4 |
of which unvested (in shares) | 121.2 | 121.2 | 121.2 |
Bank | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 1,857 | SFr 1,857 | |
Bank | Performance shares | Performance share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | In 6M20, the Bank granted 48.9 million performance share awards at a weighted-average share price of CHF 10.66. Performance share awards are similar to share awards, except that the full balance of outstanding performance share awards, including those awarded in prior years, are subject to performance-based malus provisions. | ||
Total estimated unrecognized compensation expense | SFr 424 | SFr 424 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Weighted-average grant-date fair value - Granted (in CHF per share) | SFr 10.66 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | 69.7 | ||
Granted (in shares) | 48.9 | ||
Settled (in shares) | (26.1) | ||
Forfeited (in shares) | (0.5) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 92 | 92 | |
of which vested (in shares) | 7.9 | 7.9 | |
of which unvested (in shares) | 84.1 | 84.1 | |
Bank | Stock compensation plan | Share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | In 6M20, the Bank granted 63.2 million share awards at a weighted-average share price of CHF 10.71. Each share award granted entitles the holder of the award to receive one Group share, subject to service conditions. Share awards vest over three years with one third of the share awards vesting on each of the three anniversaries of the grant date (ratable vesting), with the exception of awards granted to individuals classified as risk managers or senior managers under the UK Prudential Regulatory Authority (PRA) Remuneration Code or similar regulations in other jurisdictions. Share awards granted to risk managers vest over five years with one fifth of the award vesting on each of the five anniversaries of the grant date, while share awards granted to senior managers vest over five years commencing on the third anniversary of the grant date, with one fifth of the award vesting on each of the third to seventh anniversaries of the grant date. Share awards are expensed over the service period of the awards. | ||
Vesting period | 3 years | ||
Total estimated unrecognized compensation expense | SFr 734 | SFr 734 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Weighted-average grant-date fair value - Granted (in CHF per share) | SFr 10.71 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | 101.9 | ||
Granted (in shares) | 63.2 | ||
Settled (in shares) | (42.7) | ||
Forfeited (in shares) | (2) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 120.4 | 120.4 | |
of which vested (in shares) | 9.1 | 9.1 | |
of which unvested (in shares) | 111.3 | 111.3 | |
Bank | Stock compensation plan | Share awards | UK PRA staff or similuar regulations, Risk takers | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 5 years | ||
Bank | Stock compensation plan | Share awards | UK PRA staff or similuar regulations, Senior managemement | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 7 years |
Cash-based awards (Details 5)
Cash-based awards (Details 5) SFr in Millions | 6 Months Ended |
Jun. 30, 2020CHF (SFr) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 1,931 |
Contingent Capital Awards (CCA) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | 289 |
Bank | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 1,857 |
Bank | Contingent Capital Awards (CCA) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual, Description | In 6M20, the Bank awarded CHF 257 million of CCA. CCA are scheduled to vest on the third anniversary of the grant date, other than those granted to individuals classified as risk managers or senior managers under the UK PRA Remuneration Code or similar regulations in other jurisdictions, where CCA vest on the fifth and seventh anniversaries of the grant date, respectively, and will be expensed over the vesting period. |
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | SFr 257 |
Estimated unrecognized compensation expense | SFr 277 |
Bank | Contingent Capital Awards (CCA) | Cliff vesting [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 3 years |
Bank | Contingent Capital Awards (CCA) | UK PRA staff or similuar regulations, Risk takers | Cliff vesting [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 5 years |
Bank | Contingent Capital Awards (CCA) | UK PRA staff or similuar regulations, Senior managemement | Cliff vesting [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 7 years |
Other variable compensation (De
Other variable compensation (Details 6) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Compensation expense relating to deferred compensation | SFr 512 | SFr 273 | SFr 452 | SFr 785 | SFr 882 |
Estimated unrecognized compensation expense | 1,931 | 1,931 | |||
Retention Awards | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Compensation expense relating to deferred compensation | 10 | 9 | 3 | 19 | 8 |
Estimated unrecognized compensation expense | 45 | 45 | |||
Deferred cash retention awards | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | 6 | SFr 6 | |||
Compensation expense relating to deferred compensation | 10 | ||||
Deferred cash retention awards | Cliff vesting [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Description | In 2Q20, the Group granted deferred cash and stock retention awards of CHF 6 million. These awards are expensed over the applicable vesting period from the grant date. Amortization of retention awards granted in 2Q20 and prior periods totaled CHF 10 million in 2Q20. | ||||
Deferred cash awards | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Compensation expense relating to deferred compensation | 138 | SFr 10 | SFr 96 | SFr 148 | 186 |
Estimated unrecognized compensation expense | 398 | 398 | |||
Bank | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Compensation expense relating to deferred compensation | 754 | 846 | |||
Estimated unrecognized compensation expense | 1,857 | SFr 1,857 | |||
Bank | Other variable compensation | Cliff vesting [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Description | In 6M20, the Bank granted deferred fixed cash compensation of CHF 121 million to certain employees in the Americas. This compensation will be expensed in Global Markets, Investment Banking & Capital Markets and International Wealth Management over a three-year vesting period from the grant date. Amortization of this compensation in 6M20 totaled CHF 57 million, of which CHF 33 million was related to awards granted in 6M20. | ||||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 3 years | ||||
Bank | Retention Awards | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Compensation expense relating to deferred compensation | SFr 19 | 8 | |||
Estimated unrecognized compensation expense | 45 | SFr 45 | |||
Bank | Retention Awards | Cliff vesting [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Description | In 6M20, the Bank granted deferred cash and stock retention awards of CHF 17 million. These awards are expensed over the applicable vesting period from the grant date. Amortization of this compensation in 6M20 totaled CHF 19 million, of which CHF 2 million was related to awards granted in 6M20. | ||||
Bank | Upfront cash award | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | 146 | SFr 146 | |||
Compensation expense relating to deferred compensation | 38 | ||||
Compensation expense relating to deferred compensation, of which granted in current year | SFr 29 | ||||
Bank | Upfront cash award | Cliff vesting [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Description | In 6M20, the Bank granted upfront cash awards of CHF 146 million to certain managing directors and directors in Investment Banking & Capital Markets and Asia Pacific. Amortization of this compensation in 6M20 totaled CHF 38 million, of which CHF 29 million was related to awards granted in 6M20. | ||||
Bank | Deferred cash retention awards | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | 17 | SFr 17 | |||
Compensation expense relating to deferred compensation | 19 | ||||
Compensation expense relating to deferred compensation, of which granted in current year | 2 | ||||
Bank | Deferred cash awards | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Compensation expense relating to deferred compensation | 143 | SFr 168 | |||
Estimated unrecognized compensation expense | 377 | 377 | |||
Bank | Deferred fixed cash awards | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | SFr 121 | 121 | |||
Compensation expense relating to deferred compensation | 57 | ||||
Compensation expense relating to deferred compensation, of which granted in current year | SFr 33 |
Pension and other post-retire_3
Pension and other post-retirement benefits - Obligation and funded status (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Total benefit costs | ||||||
Service costs on benefit obligation | SFr 55 | SFr 54 | SFr 68 | SFr 109 | SFr 135 | |
Interest costs on benefit obligation | 23 | 24 | 34 | 47 | 80 | |
Expected return on plan assets | (109) | (110) | (126) | (219) | (251) | |
Amortization of recognized prior service cost/(credit) | (41) | (42) | (41) | (83) | (71) | |
Amortization of recognized actuarial losses/(gains) | 87 | 87 | 80 | 174 | 156 | |
Settlement losses/(gains) | 2 | 3 | 0 | 5 | 0 | |
Special termination benefits | 0 | 3 | 2 | 3 | 10 | |
Net periodic benefit/(costs) | 17 | 19 | 17 | 36 | 59 | |
PBO | ||||||
Service costs | 55 | 54 | 68 | 109 | 135 | |
Interest costs | 23 | 24 | 34 | 47 | 80 | |
Total amount recognized | ||||||
Noncurrent assets | 3,011 | 2,928 | 3,011 | SFr 2,878 | ||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions expected to be made by the company by the end of the current fiscal year | 323 | 323 | ||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | 167 | |||||
Defined benefit and defined contribution | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 113 | 150 | 112 | 263 | 220 | |
PBO | ||||||
Service costs | 113 | 150 | SFr 112 | 263 | 220 | |
Switzerland | ||||||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | 20 | SFr 53 | ||||
Bank | ||||||
Total amount recognized | ||||||
Noncurrent assets | SFr 987 | 987 | SFr 1,067 | |||
Bank | Defined benefit and defined contribution | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 272 | 256 | ||||
PBO | ||||||
Service costs | 272 | 256 | ||||
Bank | International | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 8 | 8 | ||||
Interest costs on benefit obligation | 37 | 50 | ||||
Expected return on plan assets | (44) | (55) | ||||
Amortization of recognized prior service cost/(credit) | 1 | 0 | ||||
Amortization of recognized actuarial losses/(gains) | 7 | 10 | ||||
Net periodic benefit/(costs) | 9 | 13 | ||||
PBO | ||||||
Service costs | 8 | 8 | ||||
Interest costs | 37 | SFr 50 | ||||
Bank | International | Defined benefit pension plans | ||||||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions previously expected to be made by the company by the end of the current fiscal year | 17 | |||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | 9 | |||||
Bank | International | Other post-retirement defined benefit plans | ||||||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions previously expected to be made by the company by the end of the current fiscal year | 11 | |||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | SFr 6 |
Pension and other post-retire_4
Pension and other post-retirement benefits - Contributions (Details 7) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure | |||||
Contributions made by the Entity to defined contribution pension plans | SFr 58 | SFr 96 | SFr 44 | SFr 154 | SFr 85 |
Bank | |||||
Defined Contribution Pension and Other Postretirement Plans Disclosure | |||||
Contributions made by the Entity to defined contribution pension plans | SFr 264 | SFr 248 |
Pension and other post-retire_5
Pension and other post-retirement benefits (Details 11) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr 0 | SFr 0 | SFr 323 | SFr 0 | SFr 323 |
Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr 0 | SFr 0 | SFr 338 | 0 | 338 |
Bank | Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | 0 | 0 | |||
Bank | Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr 0 | SFr 0 |
Derivatives and hedging activ_3
Derivatives and hedging activities - Fair value - balance sheet related (Details) - CHF (SFr) SFr in Billions | 6 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | |
Fair value of derivative instruments | ||
Notional amount | SFr 21,576.5 | SFr 20,456.4 |
Positive replacement value (PRV) | 148.2 | 115.8 |
Negative replacement value (NRV) | SFr 145.1 | 117.3 |
Cash flow hedges | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 12 months | |
Not designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | SFr 21,427.6 | 20,329.1 |
Positive replacement value (PRV) | 147.1 | 115.2 |
Negative replacement value (NRV) | 145 | 117.1 |
Not designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 18,120.6 | 17,133 |
Positive replacement value (PRV) | 87.4 | 68.3 |
Negative replacement value (NRV) | 85 | 65.9 |
Not designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 7,009.8 | 6,226.5 |
Positive replacement value (PRV) | 2.9 | 0.9 |
Negative replacement value (NRV) | 2.7 | 0.9 |
Not designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 9,378.4 | 9,183.5 |
Positive replacement value (PRV) | 60.1 | 50.8 |
Negative replacement value (NRV) | 58 | 48.4 |
Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 1,267.9 | 1,355.4 |
Positive replacement value (PRV) | 23.9 | 16.3 |
Negative replacement value (NRV) | 23.8 | 16.4 |
Not designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 299.4 | 264.2 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 165.1 | 103.4 |
Positive replacement value (PRV) | 0.5 | 0.3 |
Negative replacement value (NRV) | 0.5 | 0.2 |
Not designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 1,750.2 | 1,743 |
Positive replacement value (PRV) | 25.1 | 21.9 |
Negative replacement value (NRV) | 27.9 | 26.3 |
Not designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1,064.6 | 1,073.5 |
Positive replacement value (PRV) | 8.3 | 8 |
Negative replacement value (NRV) | 9 | 9.1 |
Not designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 362.1 | 389.5 |
Positive replacement value (PRV) | 13.3 | 10.9 |
Negative replacement value (NRV) | 14.9 | 13.7 |
Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 314.2 | 270.8 |
Positive replacement value (PRV) | 3.5 | 3 |
Negative replacement value (NRV) | 4 | 3.5 |
Not designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 8.8 | 9.1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0.5 | 0.1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 570.9 | 538.1 |
Positive replacement value (PRV) | 6.1 | 6.2 |
Negative replacement value (NRV) | 6.7 | 7.2 |
Not designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 917.9 | 858.2 |
Positive replacement value (PRV) | 26.5 | 17.4 |
Negative replacement value (NRV) | 24 | 17 |
Not designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1.1 | 1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0.1 | 0 |
Not designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 154.7 | 175.2 |
Positive replacement value (PRV) | 8.4 | 4.3 |
Negative replacement value (NRV) | 5.9 | 4.6 |
Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 231.8 | 213.6 |
Positive replacement value (PRV) | 8.8 | 7.7 |
Negative replacement value (NRV) | 8 | 7.3 |
Not designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 32.3 | 41.2 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 498 | 427.2 |
Positive replacement value (PRV) | 9.3 | 5.4 |
Negative replacement value (NRV) | 10 | 5.1 |
Not designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 68 | 56.8 |
Positive replacement value (PRV) | 2 | 1.4 |
Negative replacement value (NRV) | 1.4 | 0.7 |
Not designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 16.6 | 13.2 |
Positive replacement value (PRV) | 0.4 | 0.2 |
Negative replacement value (NRV) | 0.4 | 0.1 |
Not designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 9.8 | 11.6 |
Positive replacement value (PRV) | 1.1 | 1 |
Negative replacement value (NRV) | 0.5 | 0.5 |
Not designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 21.2 | 15.5 |
Positive replacement value (PRV) | 0.4 | 0.2 |
Negative replacement value (NRV) | 0.4 | 0.1 |
Not designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 16.9 | 14.8 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 3.5 | 1.7 |
Positive replacement value (PRV) | 0.1 | 0 |
Negative replacement value (NRV) | 0.1 | 0 |
Designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | 148.9 | 127.3 |
Positive replacement value (PRV) | 1.1 | 0.6 |
Negative replacement value (NRV) | 0.1 | 0.2 |
Designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 135 | 113.2 |
Positive replacement value (PRV) | 1 | 0.5 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 135 | 113.2 |
Positive replacement value (PRV) | 1 | 0.5 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Interest rate derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 13.9 | 14.1 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0 | 0.1 |
Designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 13.9 | 14.1 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0 | 0.1 |
Designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | ||
Fair value of derivative instruments | ||
Notional amount | 21,577.4 | 20,457.4 |
Positive replacement value (PRV) | 148.2 | 115.8 |
Negative replacement value (NRV) | SFr 145.1 | 117.3 |
Cash flow hedges | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 12 months | |
Bank | Not designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | SFr 21,428.5 | 20,330.1 |
Positive replacement value (PRV) | 147.1 | 115.2 |
Negative replacement value (NRV) | 145 | 117.1 |
Bank | Not designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 18,121.5 | 17,134 |
Positive replacement value (PRV) | 87.4 | 68.3 |
Negative replacement value (NRV) | 85.1 | 65.9 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 7,009.8 | 6,226.5 |
Positive replacement value (PRV) | 2.9 | 0.9 |
Negative replacement value (NRV) | 2.7 | 0.9 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 9,379.3 | 9,184.5 |
Positive replacement value (PRV) | 60.1 | 50.8 |
Negative replacement value (NRV) | 58.1 | 48.4 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 1,267.9 | 1,355.4 |
Positive replacement value (PRV) | 23.9 | 16.3 |
Negative replacement value (NRV) | 23.8 | 16.4 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 299.4 | 264.2 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 165.1 | 103.4 |
Positive replacement value (PRV) | 0.5 | 0.3 |
Negative replacement value (NRV) | 0.5 | 0.2 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 1,750.2 | 1,743 |
Positive replacement value (PRV) | 25.1 | 21.9 |
Negative replacement value (NRV) | 27.9 | 26.3 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1,064.6 | 1,073.5 |
Positive replacement value (PRV) | 8.3 | 8 |
Negative replacement value (NRV) | 9 | 9.1 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 362.1 | 389.5 |
Positive replacement value (PRV) | 13.3 | 10.9 |
Negative replacement value (NRV) | 14.9 | 13.7 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 314.2 | 270.8 |
Positive replacement value (PRV) | 3.5 | 3 |
Negative replacement value (NRV) | 4 | 3.5 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 8.8 | 9.1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0.5 | 0.1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 570.9 | 538.1 |
Positive replacement value (PRV) | 6.1 | 6.2 |
Negative replacement value (NRV) | 6.7 | 7.2 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 917.9 | 858.2 |
Positive replacement value (PRV) | 26.5 | 17.4 |
Negative replacement value (NRV) | 24 | 17 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1.1 | 1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0.1 | 0 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 154.7 | 175.2 |
Positive replacement value (PRV) | 8.4 | 4.3 |
Negative replacement value (NRV) | 5.9 | 4.6 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 231.8 | 213.6 |
Positive replacement value (PRV) | 8.8 | 7.7 |
Negative replacement value (NRV) | 8 | 7.3 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 32.3 | 41.2 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 498 | 427.2 |
Positive replacement value (PRV) | 9.3 | 5.4 |
Negative replacement value (NRV) | 10 | 5.1 |
Bank | Not designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 68 | 56.8 |
Positive replacement value (PRV) | 2 | 1.4 |
Negative replacement value (NRV) | 1.3 | 0.7 |
Bank | Not designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 16.6 | 13.2 |
Positive replacement value (PRV) | 0.4 | 0.2 |
Negative replacement value (NRV) | 0.4 | 0.1 |
Bank | Not designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 9.8 | 11.6 |
Positive replacement value (PRV) | 1.1 | 1 |
Negative replacement value (NRV) | 0.5 | 0.5 |
Bank | Not designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 21.2 | 15.5 |
Positive replacement value (PRV) | 0.4 | 0.2 |
Negative replacement value (NRV) | 0.3 | 0.1 |
Bank | Not designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 16.9 | 14.8 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 3.5 | 1.7 |
Positive replacement value (PRV) | 0.1 | 0 |
Negative replacement value (NRV) | 0.1 | 0 |
Bank | Designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | 148.9 | 127.3 |
Positive replacement value (PRV) | 1.1 | 0.6 |
Negative replacement value (NRV) | 0.1 | 0.2 |
Bank | Designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 135 | 113.2 |
Positive replacement value (PRV) | 1 | 0.5 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Bank | Designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 135 | 113.2 |
Positive replacement value (PRV) | 1 | 0.5 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Bank | Designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Interest rate derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 13.9 | 14.1 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0 | 0.1 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 13.9 | 14.1 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0 | 0.1 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | SFr 0 | SFr 0 |
Derivatives and hedging activ_4
Derivatives and hedging activities - Movements (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Fair value hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Hedged items | SFr (205) | SFr (2,169) | SFr (991) | SFr (2,374) | SFr (1,698) |
Derivatives designated as hedging instruments | 212 | 2,014 | 937 | 2,226 | 1,580 |
Cash flow hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Expected reclassification of net gains/(losses) from AOCI into earnings during the next 12 months | 117 | ||||
Cash flow hedges | Trading Revenue [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Gain (Loss) from Components Excluded from Assessment of Cash Flow Hedge Effectiveness, Net | 0 | 1 | (4) | 1 | (7) |
Cash flow hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 21 | 267 | 71 | 288 | 120 |
Cash flow hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | (42) | 1 | (42) | 2 |
Cash flow hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (5) | (79) | (10) | (84) | (7) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (5) | (36) | (2) | (41) | (6) |
Cash flow hedges | Foreign exchange derivatives | Trading Revenue [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | (30) | 5 | (30) | 4 |
Cash flow hedges | Foreign exchange derivatives | Other Expense [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (5) | (6) | (5) | (11) | (6) |
Cash flow hedges | Foreign exchange derivatives | Other Income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | 0 | (2) | 0 | (4) |
Net investment hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (38) | 519 | 9 | 481 | (121) |
Net investment hedges | Foreign exchange derivatives | Other Income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | SFr 9 | SFr 0 | SFr 0 | 9 | 0 |
Bank | Fair value hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Hedged items | (2,374) | (1,698) | |||
Derivatives designated as hedging instruments | 2,226 | 1,580 | |||
Bank | Cash flow hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Expected reclassification of net gains/(losses) from AOCI into earnings during the next 12 months | 117 | ||||
Bank | Cash flow hedges | Trading Revenue [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Gain (Loss) from Components Excluded from Assessment of Cash Flow Hedge Effectiveness, Net | 1 | (7) | |||
Bank | Cash flow hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 288 | 120 | |||
Bank | Cash flow hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (42) | 2 | |||
Bank | Cash flow hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (84) | (1) | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (41) | (2) | |||
Bank | Cash flow hedges | Foreign exchange derivatives | Trading Revenue [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (30) | 4 | |||
Bank | Cash flow hedges | Foreign exchange derivatives | Other Expense [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (11) | (6) | |||
Bank | Net investment hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 476 | (119) | |||
Bank | Net investment hedges | Foreign exchange derivatives | Other Income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | SFr 9 | SFr 0 |
Derivatives and hedging activ_5
Derivatives and hedging activities - Contingent credit risk (Details 3) - CHF (SFr) SFr in Billions | Jun. 30, 2020 | Dec. 31, 2019 |
Contingent credit risk | ||
Current net exposure | SFr 3.9 | SFr 3.4 |
Collateral posted | 3.1 | 2.8 |
Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.2 |
Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.9 | 0.9 |
Bilateral counterparties | ||
Contingent credit risk | ||
Current net exposure | 3.4 | 3.1 |
Collateral posted | 3 | 2.7 |
Bilateral counterparties | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Bilateral counterparties | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.2 |
Bilateral counterparties | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.6 | 0.7 |
Special purpose entities | ||
Contingent credit risk | ||
Current net exposure | 0 | 0 |
Collateral posted | 0.1 | 0.1 |
Special purpose entities | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Special purpose entities | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Special purpose entities | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.1 |
Accelerated terminations | ||
Contingent credit risk | ||
Current net exposure | 0.5 | 0.3 |
Accelerated terminations | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Accelerated terminations | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Accelerated terminations | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.2 | 0.1 |
Bank | ||
Contingent credit risk | ||
Current net exposure | 3.9 | 3.4 |
Collateral posted | 3.1 | 2.8 |
Bank | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Bank | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.2 |
Bank | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.9 | 0.9 |
Bank | Bilateral counterparties | ||
Contingent credit risk | ||
Current net exposure | 3.4 | 3.1 |
Collateral posted | 3 | 2.7 |
Bank | Bilateral counterparties | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Bank | Bilateral counterparties | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.2 |
Bank | Bilateral counterparties | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.6 | 0.7 |
Bank | Special purpose entities | ||
Contingent credit risk | ||
Current net exposure | 0 | 0 |
Collateral posted | 0.1 | 0.1 |
Bank | Special purpose entities | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Bank | Special purpose entities | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Bank | Special purpose entities | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.1 |
Bank | Accelerated terminations | ||
Contingent credit risk | ||
Current net exposure | 0.5 | 0.3 |
Bank | Accelerated terminations | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Bank | Accelerated terminations | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Bank | Accelerated terminations | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | SFr 0.2 | SFr 0.1 |
Derivatives and hedging activ_6
Derivatives and hedging activities - Credit protection sold/purchased (Details 4) - CHF (SFr) SFr in Billions | 3 Months Ended | 6 Months Ended |
Dec. 31, 2019 | Jun. 30, 2020 | |
Credit protection sold/purchased | ||
Credit protection sold | SFr (221.9) | SFr (245.7) |
Credit protection purchased | 210.8 | 229 |
Net credit protection (sold)/purchased | (11.1) | (16.7) |
Other protection purchased | 88.7 | 80.4 |
Fair value of credit protection sold | 3.1 | (1.7) |
Total return swaps | ||
Credit protection sold/purchased | ||
Credit protection sold | (16.7) | (15.8) |
Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (61.1) | (58) |
Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (140.4) | (168.9) |
Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (20.4) | (18.8) |
Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (17.2) | (14.5) |
Credit protection purchased | 15.4 | 13.3 |
Net credit protection (sold)/purchased | (1.8) | (1.2) |
Other protection purchased | 4.1 | 5.5 |
Fair value of credit protection sold | 0 | (0.1) |
Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (204.7) | (231.2) |
Credit protection purchased | 195.4 | 215.7 |
Net credit protection (sold)/purchased | (9.3) | (15.5) |
Other protection purchased | 84.6 | 74.9 |
Fair value of credit protection sold | 3.1 | (1.6) |
Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (162.1) | (170.4) |
Credit protection purchased | 156.8 | 160.8 |
Net credit protection (sold)/purchased | (5.3) | (9.6) |
Other protection purchased | 55.5 | 51.6 |
Fair value of credit protection sold | 1.2 | (1) |
Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (59.8) | (75.3) |
Credit protection purchased | 54 | 68.2 |
Net credit protection (sold)/purchased | (5.8) | (7.1) |
Other protection purchased | 33.2 | 28.8 |
Fair value of credit protection sold | 1.9 | (0.7) |
Single-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (84.7) | (87) |
Credit protection purchased | 77.4 | 78.1 |
Net credit protection (sold)/purchased | (7.3) | (8.9) |
Other protection purchased | 27.6 | 28.3 |
Fair value of credit protection sold | 1.4 | (0.2) |
Single-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (19.2) | (18.7) |
Single-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (60.6) | (63.2) |
Single-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (4.9) | (5.1) |
Single-name instruments | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (17.2) | (14.5) |
Credit protection purchased | 15.4 | 13.3 |
Net credit protection (sold)/purchased | (1.8) | (1.2) |
Other protection purchased | 4.1 | 5.5 |
Fair value of credit protection sold | 0 | (0.1) |
Single-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (67.5) | (72.5) |
Credit protection purchased | 62 | 64.8 |
Net credit protection (sold)/purchased | (5.5) | (7.7) |
Other protection purchased | 23.5 | 22.8 |
Fair value of credit protection sold | 1.4 | (0.1) |
Single-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (52.6) | (56) |
Credit protection purchased | 47.9 | 49.6 |
Net credit protection (sold)/purchased | (4.7) | (6.4) |
Other protection purchased | 11.5 | 14.2 |
Fair value of credit protection sold | 0.5 | 0.2 |
Single-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (32.1) | (31) |
Credit protection purchased | 29.5 | 28.5 |
Net credit protection (sold)/purchased | (2.6) | (2.5) |
Other protection purchased | 16.1 | 14.1 |
Fair value of credit protection sold | 0.9 | (0.4) |
Multi-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (137.2) | (158.7) |
Credit protection purchased | 133.4 | 150.9 |
Net credit protection (sold)/purchased | (3.8) | (7.8) |
Other protection purchased | 61.1 | 52.1 |
Fair value of credit protection sold | 1.7 | (1.5) |
Multi-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (41.9) | (39.3) |
Multi-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (79.8) | (105.7) |
Multi-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (15.5) | (13.7) |
Multi-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (137.2) | (158.7) |
Credit protection purchased | 133.4 | 150.9 |
Net credit protection (sold)/purchased | (3.8) | (7.8) |
Other protection purchased | 61.1 | 52.1 |
Fair value of credit protection sold | 1.7 | (1.5) |
Multi-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (109.5) | (114.4) |
Credit protection purchased | 108.9 | 111.2 |
Net credit protection (sold)/purchased | (0.6) | (3.2) |
Other protection purchased | 44 | 37.4 |
Fair value of credit protection sold | 0.7 | (1.2) |
Multi-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (27.7) | (44.3) |
Credit protection purchased | 24.5 | 39.7 |
Net credit protection (sold)/purchased | (3.2) | (4.6) |
Other protection purchased | 17.1 | 14.7 |
Fair value of credit protection sold | 1 | (0.3) |
Bank | ||
Credit protection sold/purchased | ||
Credit protection sold | (221.9) | (245.7) |
Credit protection purchased | 210.8 | 229 |
Net credit protection (sold)/purchased | (11.1) | (16.7) |
Other protection purchased | 88.7 | 80.4 |
Fair value of credit protection sold | 3.1 | (1.7) |
Bank | Total return swaps | ||
Credit protection sold/purchased | ||
Credit protection sold | (16.7) | (15.8) |
Bank | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (61.1) | (58) |
Bank | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (140.4) | (168.9) |
Bank | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (20.4) | (18.8) |
Bank | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (17.2) | (14.5) |
Credit protection purchased | 15.4 | 13.3 |
Net credit protection (sold)/purchased | (1.8) | (1.2) |
Other protection purchased | 4.1 | 5.5 |
Fair value of credit protection sold | 0 | (0.1) |
Bank | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (204.7) | (231.2) |
Credit protection purchased | 195.4 | 215.7 |
Net credit protection (sold)/purchased | (9.3) | (15.5) |
Other protection purchased | 84.6 | 74.9 |
Fair value of credit protection sold | 3.1 | (1.6) |
Bank | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (162.1) | (170.4) |
Credit protection purchased | 156.8 | 160.8 |
Net credit protection (sold)/purchased | (5.3) | (9.6) |
Other protection purchased | 55.5 | 51.6 |
Fair value of credit protection sold | 1.2 | (1) |
Bank | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (59.8) | (75.3) |
Credit protection purchased | 54 | 68.2 |
Net credit protection (sold)/purchased | (5.8) | (7.1) |
Other protection purchased | 33.2 | 28.8 |
Fair value of credit protection sold | 1.9 | (0.7) |
Bank | Single-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (84.7) | (87) |
Credit protection purchased | 77.4 | 78.1 |
Net credit protection (sold)/purchased | (7.3) | (8.9) |
Other protection purchased | 27.6 | 28.3 |
Fair value of credit protection sold | 1.4 | (0.2) |
Bank | Single-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (19.2) | (18.7) |
Bank | Single-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (60.6) | (63.2) |
Bank | Single-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (4.9) | (5.1) |
Bank | Single-name instruments | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (17.2) | (14.5) |
Credit protection purchased | 15.4 | 13.3 |
Net credit protection (sold)/purchased | (1.8) | (1.2) |
Other protection purchased | 4.1 | 5.5 |
Fair value of credit protection sold | 0 | (0.1) |
Bank | Single-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (67.5) | (72.5) |
Credit protection purchased | 62 | 64.8 |
Net credit protection (sold)/purchased | (5.5) | (7.7) |
Other protection purchased | 23.5 | 22.8 |
Fair value of credit protection sold | 1.4 | (0.1) |
Bank | Single-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (52.6) | (56) |
Credit protection purchased | 47.9 | 49.6 |
Net credit protection (sold)/purchased | (4.7) | (6.4) |
Other protection purchased | 11.5 | 14.2 |
Fair value of credit protection sold | 0.5 | 0.2 |
Bank | Single-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (32.1) | (31) |
Credit protection purchased | 29.5 | 28.5 |
Net credit protection (sold)/purchased | (2.6) | (2.5) |
Other protection purchased | 16.1 | 14.1 |
Fair value of credit protection sold | 0.9 | (0.4) |
Bank | Multi-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (137.2) | (158.7) |
Credit protection purchased | 133.4 | 150.9 |
Net credit protection (sold)/purchased | (3.8) | (7.8) |
Other protection purchased | 61.1 | 52.1 |
Fair value of credit protection sold | 1.7 | (1.5) |
Bank | Multi-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (41.9) | (39.3) |
Bank | Multi-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (79.8) | (105.7) |
Bank | Multi-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (15.5) | (13.7) |
Bank | Multi-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (137.2) | (158.7) |
Credit protection purchased | 133.4 | 150.9 |
Net credit protection (sold)/purchased | (3.8) | (7.8) |
Other protection purchased | 61.1 | 52.1 |
Fair value of credit protection sold | 1.7 | (1.5) |
Bank | Multi-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (109.5) | (114.4) |
Credit protection purchased | 108.9 | 111.2 |
Net credit protection (sold)/purchased | (0.6) | (3.2) |
Other protection purchased | 44 | 37.4 |
Fair value of credit protection sold | 0.7 | (1.2) |
Bank | Multi-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (27.7) | (44.3) |
Credit protection purchased | 24.5 | 39.7 |
Net credit protection (sold)/purchased | (3.2) | (4.6) |
Other protection purchased | 17.1 | 14.7 |
Fair value of credit protection sold | SFr 1 | SFr (0.3) |
Derivatives and hedging activ_7
Derivatives and hedging activities - Credit derivatives (Details 5) - CHF (SFr) SFr in Billions | 3 Months Ended | 6 Months Ended |
Dec. 31, 2019 | Jun. 30, 2020 | |
Credit Derivatives [Line Items] | ||
Credit protection sold | SFr 221.9 | SFr 245.7 |
Credit protection purchased | 210.8 | 229 |
Other protection purchased | 88.7 | 80.4 |
Other instruments | 16.7 | 15.8 |
Total credit derivatives | 538.1 | 570.9 |
Bank | ||
Credit Derivatives [Line Items] | ||
Credit protection sold | 221.9 | 245.7 |
Credit protection purchased | 210.8 | 229 |
Other protection purchased | 88.7 | 80.4 |
Other instruments | 16.7 | 15.8 |
Total credit derivatives | SFr 538.1 | SFr 570.9 |
Derivatives and hedging activ_8
Derivatives and hedging activities (Details 6) - CHF (SFr) SFr in Billions | Jun. 30, 2020 | Dec. 31, 2019 |
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | SFr 18.3 | SFr 15.2 |
Hedged Liability, Fair Value Hedge | 78.8 | 65.8 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 0.2 | 0.1 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | 2.7 | 1.2 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0.6 | 0.7 |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 1.1 | 0.3 |
Bank | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | 18.3 | 15.2 |
Hedged Liability, Fair Value Hedge | 78.8 | 65.8 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 0.2 | 0.1 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | 2.7 | 1.2 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0.6 | 0.7 |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | SFr 1.1 | SFr 0.3 |
Guarantees and commitments - Gu
Guarantees and commitments - Guarantees maturity (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Guarantees | ||
Maturity less than 1 year | SFr 21,814 | SFr 24,599 |
Maturity greater than 1 year | 9,905 | 11,119 |
Total gross amount | 31,719 | 35,718 |
Total net amount | 30,632 | 34,595 |
Carrying value | 778 | 400 |
Collateral received | 9,293 | 8,451 |
Credit guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 1,974 | 2,206 |
Maturity greater than 1 year | 1,206 | 908 |
Total gross amount | 3,180 | 3,114 |
Total net amount | 3,116 | 3,061 |
Carrying value | 51 | 10 |
Collateral received | 1,573 | 1,655 |
Performance guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 4,625 | 4,942 |
Maturity greater than 1 year | 2,324 | 3,915 |
Total gross amount | 6,949 | 8,857 |
Total net amount | 5,962 | 7,833 |
Carrying value | 72 | 31 |
Collateral received | 2,551 | 2,793 |
Securities lending indemnifications | ||
Guarantees | ||
Maturity less than 1 year | 1,449 | |
Maturity greater than 1 year | 0 | |
Total gross amount | 1,449 | |
Total net amount | 1,449 | |
Carrying value | 0 | |
Collateral received | 1,449 | |
Derivatives | ||
Guarantees | ||
Maturity less than 1 year | 8,848 | 13,194 |
Maturity greater than 1 year | 4,981 | 4,050 |
Total gross amount | 13,829 | 17,244 |
Total net amount | 13,829 | 17,244 |
Carrying value | 561 | 295 |
Other guarantees | ||
Guarantees | ||
Maturity less than 1 year | 4,918 | 4,257 |
Maturity greater than 1 year | 1,394 | 2,246 |
Total gross amount | 6,312 | 6,503 |
Total net amount | 6,276 | 6,457 |
Carrying value | 94 | 64 |
Collateral received | 3,720 | 4,003 |
Bank | ||
Guarantees | ||
Maturity less than 1 year | 21,814 | 24,599 |
Maturity greater than 1 year | 9,909 | 11,123 |
Total gross amount | 31,723 | 35,722 |
Total net amount | 30,636 | 34,599 |
Carrying value | 778 | 400 |
Collateral received | 9,293 | 8,451 |
Bank | Credit guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 1,974 | 2,206 |
Maturity greater than 1 year | 1,210 | 912 |
Total gross amount | 3,184 | 3,118 |
Total net amount | 3,120 | 3,065 |
Carrying value | 51 | 10 |
Collateral received | 1,573 | 1,655 |
Bank | Performance guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 4,625 | 4,942 |
Maturity greater than 1 year | 2,324 | 3,915 |
Total gross amount | 6,949 | 8,857 |
Total net amount | 5,962 | 7,833 |
Carrying value | 72 | 31 |
Collateral received | 2,551 | 2,793 |
Bank | Securities lending indemnifications | ||
Guarantees | ||
Maturity less than 1 year | 1,449 | |
Maturity greater than 1 year | 0 | |
Total gross amount | 1,449 | |
Total net amount | 1,449 | |
Carrying value | 0 | |
Collateral received | 1,449 | |
Bank | Derivatives | ||
Guarantees | ||
Maturity less than 1 year | 8,848 | 13,194 |
Maturity greater than 1 year | 4,981 | 4,050 |
Total gross amount | 13,829 | 17,244 |
Total net amount | 13,829 | 17,244 |
Carrying value | 561 | 295 |
Bank | Other guarantees | ||
Guarantees | ||
Maturity less than 1 year | 4,918 | 4,257 |
Maturity greater than 1 year | 1,394 | 2,246 |
Total gross amount | 6,312 | 6,503 |
Total net amount | 6,276 | 6,457 |
Carrying value | 94 | 64 |
Collateral received | SFr 3,720 | SFr 4,003 |
Guarantees and commitments - Ot
Guarantees and commitments - Other guarantees (Details 2) - CHF (SFr) SFr in Billions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Guarantees | |||
Amount jointly guaranteed by deposit-taking banks and securities dealers in Switzerland | SFr 6 | ||
Group's share in amount jointly guaranteed by deposit-taking banks and securities dealers in Switzerland | SFr 0.5 | SFr 0.5 | |
Bank | |||
Guarantees | |||
Amount jointly guaranteed by deposit-taking banks and securities dealers in Switzerland | SFr 6 | ||
Group's share in amount jointly guaranteed by deposit-taking banks and securities dealers in Switzerland | SFr 0.5 | SFr 0.5 |
Guarantees and commitments - _2
Guarantees and commitments - Other commitments maturity (Details 7) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Other commitments | ||
Maturity less than 1 year | SFr 23,373 | SFr 32,250 |
Maturity greater than 1 year | 89,490 | 98,445 |
Total gross amount | 112,863 | 130,695 |
Total net amount | 108,848 | 125,925 |
Collateral received | 50,705 | 63,363 |
Unused revocable credit limits | 125,564 | 128,294 |
Irrevocable commitments under documentary credits | ||
Other commitments | ||
Maturity less than 1 year | 3,285 | 4,434 |
Maturity greater than 1 year | 53 | 163 |
Total gross amount | 3,338 | 4,597 |
Total net amount | 3,248 | 4,518 |
Collateral received | 2,073 | 3,077 |
Loan commitments | ||
Other commitments | ||
Maturity less than 1 year | 19,662 | 27,145 |
Maturity greater than 1 year | 89,255 | 97,982 |
Total gross amount | 108,917 | 125,127 |
Total net amount | 104,992 | 120,436 |
Collateral received | 48,456 | 60,118 |
Forward reverse repurchase agreements | ||
Other commitments | ||
Maturity less than 1 year | 127 | 41 |
Maturity greater than 1 year | 0 | 0 |
Total gross amount | 127 | 41 |
Total net amount | 127 | 41 |
Collateral received | 127 | 41 |
Other commitments | ||
Other commitments | ||
Maturity less than 1 year | 299 | 630 |
Maturity greater than 1 year | 182 | 300 |
Total gross amount | 481 | 930 |
Total net amount | 481 | 930 |
Collateral received | 49 | 127 |
Bank | ||
Other commitments | ||
Maturity less than 1 year | 23,373 | 32,250 |
Maturity greater than 1 year | 89,490 | 98,445 |
Total gross amount | 112,863 | 130,695 |
Total net amount | 108,848 | 125,925 |
Collateral received | 50,705 | 63,363 |
Bank | Irrevocable commitments under documentary credits | ||
Other commitments | ||
Maturity less than 1 year | 3,285 | 4,434 |
Maturity greater than 1 year | 53 | 163 |
Total gross amount | 3,338 | 4,597 |
Total net amount | 3,248 | 4,518 |
Collateral received | 2,073 | 3,077 |
Bank | Loan commitments | ||
Other commitments | ||
Maturity less than 1 year | 19,662 | 27,145 |
Maturity greater than 1 year | 89,255 | 97,982 |
Total gross amount | 108,917 | 125,127 |
Total net amount | 104,992 | 120,436 |
Collateral received | 48,456 | 60,118 |
Unused revocable credit limits | 125,565 | 128,295 |
Bank | Forward reverse repurchase agreements | ||
Other commitments | ||
Maturity less than 1 year | 127 | 41 |
Maturity greater than 1 year | 0 | 0 |
Total gross amount | 127 | 41 |
Total net amount | 127 | 41 |
Collateral received | 127 | 41 |
Bank | Other commitments | ||
Other commitments | ||
Maturity less than 1 year | 299 | 630 |
Maturity greater than 1 year | 182 | 300 |
Total gross amount | 481 | 930 |
Total net amount | 481 | 930 |
Collateral received | SFr 49 | SFr 127 |
Transfers of financial assets (
Transfers of financial assets (TFA) - Securitizations (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
CMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | SFr 30 | SFr (1) |
Proceeds from transfer of assets | 4,862 | 3,632 |
Cash received on interests that continue to be held | 21 | 19 |
RMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 22 | (4) |
Proceeds from transfer of assets | 11,373 | 8,045 |
Purchases of previously transferred financial assets or their underlying collateral | 0 | (1) |
Servicing fees | 1 | 1 |
Cash received on interests that continue to be held | 457 | 116 |
Other asset-backed financings | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 61 | 48 |
Proceeds from transfer of assets | 4,766 | 4,801 |
Purchases of previously transferred financial assets or their underlying collateral | (638) | (389) |
Servicing fees | 72 | 74 |
Cash received on interests that continue to be held | 11 | 3 |
Bank | CMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 30 | (1) |
Proceeds from transfer of assets | 4,862 | 3,632 |
Cash received on interests that continue to be held | 21 | 19 |
Bank | RMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 22 | (4) |
Proceeds from transfer of assets | 11,373 | 8,045 |
Purchases of previously transferred financial assets or their underlying collateral | 0 | (1) |
Servicing fees | 1 | 1 |
Cash received on interests that continue to be held | 457 | 116 |
Bank | Other asset-backed financings | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 61 | 48 |
Proceeds from transfer of assets | 4,766 | 4,801 |
Purchases of previously transferred financial assets or their underlying collateral | (638) | (389) |
Servicing fees | 72 | 74 |
Cash received on interests that continue to be held | SFr 11 | SFr 3 |
TFA - Principal amounts outstan
TFA - Principal amounts outstanding / total assets - continuing involvement (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
CMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | SFr 20,184 | SFr 21,079 |
Total assets of SPE | 26,731 | 28,748 |
RMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 55,801 | 54,001 |
Total assets of SPE | 57,228 | 55,595 |
Other asset-backed financings | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 25,905 | 27,982 |
Total assets of SPE | 50,594 | 54,974 |
Bank | CMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 20,184 | 21,079 |
Total assets of SPE | 26,731 | 28,748 |
Bank | RMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 55,801 | 54,001 |
Total assets of SPE | 57,228 | 55,595 |
Bank | Other asset-backed financings | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 25,905 | 27,982 |
Total assets of SPE | SFr 50,594 | SFr 54,974 |
TFA - Key economic assumptions
TFA - Key economic assumptions at time of transfer (Details 3) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed rate assumed used for projecting payments over the life of a residential mortgage loan (as a percent) | 100.00% | ||
Prepayment rate per annum of the outstanding principal balance of mortgage loans in the first month assuming 100% prepayment (as a percent) | 0.20% | ||
Prepayment rate per annum of the outstanding principal balance of mortgage loans after the first month assuming 100% prepayment (as a percent) | 0.20% | ||
Constant prepayment rate assumed using a 100% prepayment assumption (as a percent) | 6.00% | ||
CMBS | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 172 | SFr 281 | |
Weighted-average life, in years | 8 years 1 month 6 days | 4 years 1 month 6 days | |
CMBS | Minimum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Cash flow discount rate (rate per annum), in % (as a percent) | 1.40% | 2.50% | |
Expected credit losses (rate per annum), in % (as a percent) | 4.00% | 1.30% | |
CMBS | Maximum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Cash flow discount rate (rate per annum), in % (as a percent) | 9.20% | 8.30% | |
Expected credit losses (rate per annum), in % (as a percent) | 8.60% | 5.80% | |
CMBS | Level 2 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 158 | 264 | |
CMBS | Level 3 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | 14 | 17 | |
RMBS | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 1,646 | 885 | |
Weighted-average life, in years | 3 years 7 months 6 days | 4 years 8 months 12 days | |
RMBS | Minimum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed assumption (rate per annum) in % (as a percent) | 1.00% | 2.00% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 0.70% | 2.30% | |
Expected credit losses (rate per annum), in % (as a percent) | 3.30% | 1.70% | |
RMBS | Maximum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed assumption (rate per annum) in % (as a percent) | 38.20% | 37.30% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 24.70% | 11.60% | |
Expected credit losses (rate per annum), in % (as a percent) | 22.90% | 3.40% | |
RMBS | Level 2 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 1,465 | 826 | |
RMBS | Level 3 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 181 | 59 | |
Bank | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed rate assumed used for projecting payments over the life of a residential mortgage loan (as a percent) | 100.00% | ||
Prepayment rate per annum of the outstanding principal balance of mortgage loans in the first month assuming 100% prepayment (as a percent) | 0.20% | ||
Prepayment rate per annum of the outstanding principal balance of mortgage loans after the first month assuming 100% prepayment (as a percent) | 0.20% | ||
Constant prepayment rate assumed using a 100% prepayment assumption (as a percent) | 6.00% | ||
Bank | CMBS | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 172 | 281 | |
Weighted-average life, in years | 8 years 1 month 6 days | 4 years 1 month 6 days | |
Bank | CMBS | Minimum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Cash flow discount rate (rate per annum), in % (as a percent) | 1.40% | 2.50% | |
Expected credit losses (rate per annum), in % (as a percent) | 4.00% | 1.30% | |
Bank | CMBS | Maximum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Cash flow discount rate (rate per annum), in % (as a percent) | 9.20% | 8.30% | |
Expected credit losses (rate per annum), in % (as a percent) | 8.60% | 5.80% | |
Bank | CMBS | Level 2 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 158 | 264 | |
Bank | CMBS | Level 3 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | 14 | 17 | |
Bank | RMBS | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 1,646 | 885 | |
Weighted-average life, in years | 3 years 7 months 6 days | 4 years 8 months 12 days | |
Bank | RMBS | Minimum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed assumption (rate per annum) in % (as a percent) | 1.00% | 2.00% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 0.70% | 2.30% | |
Expected credit losses (rate per annum), in % (as a percent) | 3.30% | 1.70% | |
Bank | RMBS | Maximum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed assumption (rate per annum) in % (as a percent) | 38.20% | 37.30% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 24.70% | 11.60% | |
Expected credit losses (rate per annum), in % (as a percent) | 22.90% | 3.40% | |
Bank | RMBS | Level 2 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 1,465 | 826 | |
Bank | RMBS | Level 3 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 181 | SFr 59 |
TFA - Key economic assumption_2
TFA - Key economic assumptions at balance sheet date (Details 4) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |
Dec. 31, 2019 | Jun. 30, 2020 | Dec. 31, 2019 | |
CMBS | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | SFr 399 | SFr 330 | SFr 399 |
Weighted-average life, in years | 6 years 4 months 24 days | 6 years 6 months | |
Impact on fair value from 10% adverse change in cash flow discount rate | SFr (6.8) | SFr (4.7) | (6.8) |
Impact on fair value from 20% adverse change in cash flow discount rate | (13.4) | (9.3) | (13.4) |
Impact on fair value from 10% adverse change in expected credit losses | (4.1) | (4.1) | (4.1) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (8.1) | SFr (8) | (8.1) |
CMBS | Minimum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 2.20% | 1.30% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.50% | 1.40% | |
CMBS | Maximum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 15.20% | 22.40% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 8.50% | 10.90% | |
CMBS | Non-investment grade | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | SFr 46 | SFr 40 | 46 |
RMBS | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | SFr 2,282 | SFr 2,494 | 2,282 |
Weighted-average life, in years | 5 years 8 months 12 days | 3 years 7 months 6 days | |
Impact on fair value from 10% adverse change in prepayment speed | SFr (38.1) | SFr (52.7) | (38.1) |
Impact on fair value from 20% adverse change in prepayment speed | (72.6) | (99.9) | (72.6) |
Impact on fair value from 10% adverse change in cash flow discount rate | (38.3) | (32.5) | (38.3) |
Impact on fair value from 20% adverse change in cash flow discount rate | (74.7) | (62.3) | (74.7) |
Impact on fair value from 10% adverse change in expected credit losses | (24.1) | (30.2) | (24.1) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (47.3) | SFr (58) | (47.3) |
RMBS | Minimum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Prepayment speed assumption (rate per annum), in % (as a percent) | 3.00% | 1.00% | |
Cash flow discount rate per annum, in % (as a percent) | 1.50% | 0.60% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 1.10% | 0.20% | |
RMBS | Maximum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Prepayment speed assumption (rate per annum), in % (as a percent) | 35.70% | 46.40% | |
Cash flow discount rate per annum, in % (as a percent) | 36.20% | 42.00% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 34.50% | 29.70% | |
RMBS | Non-investment grade | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | SFr 711 | SFr 860 | 711 |
Other asset-backed financings | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | SFr 751 | SFr 662 | 751 |
Weighted-average life, in years | 1 year 7 months 6 days | 2 years 2 months 12 days | |
Impact on fair value from 10% adverse change in cash flow discount rate | SFr (2.1) | SFr (3.2) | (2.1) |
Impact on fair value from 20% adverse change in cash flow discount rate | (4.2) | (6.3) | (4.2) |
Impact on fair value from 10% adverse change in expected credit losses | (2) | (3.2) | (2) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (4) | SFr (6.3) | (4) |
Other asset-backed financings | Minimum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 0.70% | 1.10% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.70% | 1.10% | |
Other asset-backed financings | Maximum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 13.10% | 25.40% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 12.80% | 25.40% | |
Other asset-backed financings | Non-investment grade | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | SFr 15 | SFr 19 | 15 |
Bank | CMBS | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | 399 | SFr 330 | SFr 399 |
Weighted-average life, in years | 6 years 6 months | 6 years 4 months 24 days | |
Impact on fair value from 10% adverse change in cash flow discount rate | (6.8) | SFr (4.7) | SFr (6.8) |
Impact on fair value from 20% adverse change in cash flow discount rate | (13.4) | (9.3) | (13.4) |
Impact on fair value from 10% adverse change in expected credit losses | (4.1) | (4.1) | (4.1) |
Impact on fair value from 20% adverse change in expected credit losses | (8.1) | SFr (8) | SFr (8.1) |
Bank | CMBS | Minimum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 1.30% | 2.20% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 1.40% | 0.50% | |
Bank | CMBS | Maximum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 22.40% | 15.20% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 10.90% | 8.50% | |
Bank | CMBS | Non-investment grade | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | 46 | SFr 40 | SFr 46 |
Bank | RMBS | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | 2,282 | SFr 2,494 | SFr 2,282 |
Weighted-average life, in years | 3 years 7 months 6 days | 5 years 8 months 12 days | |
Impact on fair value from 10% adverse change in prepayment speed | (38.1) | SFr (52.7) | SFr (38.1) |
Impact on fair value from 20% adverse change in prepayment speed | (72.6) | (99.9) | (72.6) |
Impact on fair value from 10% adverse change in cash flow discount rate | (38.3) | (32.5) | (38.3) |
Impact on fair value from 20% adverse change in cash flow discount rate | (74.7) | (62.3) | (74.7) |
Impact on fair value from 10% adverse change in expected credit losses | (24.1) | (30.2) | (24.1) |
Impact on fair value from 20% adverse change in expected credit losses | (47.3) | SFr (58) | SFr (47.3) |
Bank | RMBS | Minimum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Prepayment speed assumption (rate per annum), in % (as a percent) | 1.00% | 3.00% | |
Cash flow discount rate per annum, in % (as a percent) | 0.60% | 1.50% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.20% | 1.10% | |
Bank | RMBS | Maximum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Prepayment speed assumption (rate per annum), in % (as a percent) | 46.40% | 35.70% | |
Cash flow discount rate per annum, in % (as a percent) | 42.00% | 36.20% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 29.70% | 34.50% | |
Bank | RMBS | Non-investment grade | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | 711 | SFr 860 | SFr 711 |
Bank | Other asset-backed financings | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | 751 | SFr 662 | SFr 751 |
Weighted-average life, in years | 2 years 2 months 12 days | 1 year 7 months 6 days | |
Impact on fair value from 10% adverse change in cash flow discount rate | (2.1) | SFr (3.2) | SFr (2.1) |
Impact on fair value from 20% adverse change in cash flow discount rate | (4.2) | (6.3) | (4.2) |
Impact on fair value from 10% adverse change in expected credit losses | (2) | (3.2) | (2) |
Impact on fair value from 20% adverse change in expected credit losses | (4) | SFr (6.3) | SFr (4) |
Bank | Other asset-backed financings | Minimum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 1.10% | 0.70% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 1.10% | 0.70% | |
Bank | Other asset-backed financings | Maximum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 25.40% | 13.10% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 25.40% | 12.80% | |
Bank | Other asset-backed financings | Non-investment grade | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | SFr 15 | SFr 19 | SFr 15 |
TFA - Carrying amounts for sale
TFA - Carrying amounts for sale treatmen not achieved (Details 5) - Other asset-backed financings - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Trading assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | SFr 562 | SFr 279 |
Other assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 184 | 0 |
Other liabilities | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Liability to SPE, transfer of financial interest, sale treatment not achieved | (746) | (279) |
Bank | Trading assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 562 | 279 |
Bank | Other assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 184 | 0 |
Bank | Other liabilities | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Liability to SPE, transfer of financial interest, sale treatment not achieved | SFr (746) | SFr (279) |
TFA - Transfer of certain finan
TFA - Transfer of certain financial assets accounted for as secured borrowings (Details 6) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | SFr 36,500 | SFr 28,400 | |
Securities lending transactions | 6,300 | 5,700 | |
Obligation to return securities received as collateral, at fair value | 42,479 | SFr 28,655 | 40,219 |
Total | 85,300 | 74,300 | |
Corporate debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 8,100 | 8,600 | |
Securities lending transactions | 100 | 100 | |
Obligation to return securities received as collateral, at fair value | 4,100 | 1,800 | |
Asset-backed securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 5,500 | 2,500 | |
Obligation to return securities received as collateral, at fair value | 100 | 100 | |
Equity securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 800 | 700 | |
Securities lending transactions | 5,200 | 5,400 | |
Obligation to return securities received as collateral, at fair value | 32,900 | 33,000 | |
Other | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 1,200 | 200 | |
Securities lending transactions | 100 | 100 | |
Government debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 20,900 | 16,400 | |
Securities lending transactions | 900 | 100 | |
Obligation to return securities received as collateral, at fair value | 5,400 | 5,300 | |
Maturity on Demand [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 5,600 | 5,200 | |
Securities lending transactions | 5,500 | 5,700 | |
Obligation to return securities received as collateral, at fair value | 41,900 | 40,000 | |
Total | 53,000 | 50,900 | |
Maturity Less than 30 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 20,100 | 15,100 | |
Securities lending transactions | 500 | 0 | |
Obligation to return securities received as collateral, at fair value | 300 | 100 | |
Total | 20,900 | 15,200 | |
Maturity 30 to 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 4,300 | 5,900 | |
Securities lending transactions | 200 | 0 | |
Obligation to return securities received as collateral, at fair value | 200 | 100 | |
Total | 4,700 | 6,000 | |
Maturity Greater than 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 6,500 | 2,200 | |
Securities lending transactions | 100 | 0 | |
Obligation to return securities received as collateral, at fair value | 100 | 0 | |
Total | 6,700 | 2,200 | |
Bank | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 36,600 | 28,500 | |
Securities lending transactions | 6,300 | 5,700 | |
Obligation to return securities received as collateral, at fair value | 42,479 | 40,219 | |
Total | 85,400 | 74,400 | |
Bank | Corporate debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 8,100 | 8,600 | |
Securities lending transactions | 100 | 100 | |
Obligation to return securities received as collateral, at fair value | 4,100 | 1,800 | |
Bank | Asset-backed securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 5,500 | 2,500 | |
Obligation to return securities received as collateral, at fair value | 100 | 100 | |
Bank | Equity securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 800 | 700 | |
Securities lending transactions | 5,200 | 5,400 | |
Obligation to return securities received as collateral, at fair value | 32,900 | 33,000 | |
Bank | Other | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 1,200 | 200 | |
Securities lending transactions | 100 | 100 | |
Bank | Government debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 21,000 | 16,500 | |
Securities lending transactions | 900 | 100 | |
Obligation to return securities received as collateral, at fair value | 5,400 | 5,300 | |
Bank | Maturity on Demand [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 5,600 | 5,200 | |
Securities lending transactions | 5,500 | 5,700 | |
Obligation to return securities received as collateral, at fair value | 41,900 | 40,000 | |
Total | 53,000 | 50,900 | |
Bank | Maturity Less than 30 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 20,200 | 15,200 | |
Securities lending transactions | 500 | 0 | |
Obligation to return securities received as collateral, at fair value | 300 | 100 | |
Total | 21,000 | 15,300 | |
Bank | Maturity 30 to 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 4,300 | 5,900 | |
Securities lending transactions | 200 | 0 | |
Obligation to return securities received as collateral, at fair value | 200 | 100 | |
Total | 4,700 | 6,000 | |
Bank | Maturity Greater than 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 6,500 | 2,200 | |
Securities lending transactions | 100 | 0 | |
Obligation to return securities received as collateral, at fair value | 100 | 0 | |
Total | SFr 6,700 | SFr 2,200 |
Variable interest entities (VIE
Variable interest entities (VIE) - Consolidated (Details 7) SFr in Millions | Jun. 30, 2020CHF (SFr)day | Mar. 31, 2020CHF (SFr) | Dec. 31, 2019CHF (SFr) | Jun. 30, 2019CHF (SFr) | Dec. 31, 2018CHF (SFr) | |||||
VIE Disclosures | ||||||||||
Cash and due from banks | SFr 132,070 | [1] | SFr 119,172 | SFr 101,879 | [1] | SFr 92,489 | [1] | SFr 100,047 | [1] | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,890 | 107,876 | 106,997 | |||||||
Trading assets | 156,730 | 150,798 | 153,797 | |||||||
Investment securities | 584 | 1,164 | 1,006 | |||||||
Other investments | 5,848 | 5,858 | 5,666 | |||||||
Net loans | 294,312 | 302,674 | 296,779 | |||||||
Other assets | 41,146 | 47,281 | 39,609 | |||||||
of which loans held-for-sale | 7,406 | 9,821 | 8,886 | |||||||
Assets | 828,480 | 832,166 | 787,295 | |||||||
Customer deposits | 388,995 | 389,905 | 383,783 | |||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 30,589 | 45,451 | 27,533 | |||||||
Trading liabilities | 44,040 | 44,877 | 38,186 | |||||||
Short-term borrowings | 27,386 | 27,929 | 28,385 | |||||||
Long-term debt | 169,426 | 144,923 | 152,005 | |||||||
Other liabilities | 28,787 | 32,088 | 31,043 | |||||||
Liabilities | SFr 781,629 | 783,393 | 743,581 | |||||||
CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Average maturity of CP (in days) | day | 161 | |||||||||
Consolidated VIEs | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | SFr 96 | 205 | 138 | |||||||
Trading assets | 2,423 | 2,777 | 2,788 | |||||||
Other investments | 1,471 | 1,435 | 1,412 | |||||||
Net loans | 843 | 720 | 649 | |||||||
Other assets | 2,016 | 2,083 | 1,694 | |||||||
of which loans held-for-sale | 429 | 93 | ||||||||
Premises and equipment | 43 | 44 | ||||||||
Assets | 6,849 | 6,681 | ||||||||
Trading liabilities | 11 | 6 | 8 | |||||||
Short-term borrowings | 4,515 | 5,630 | 4,885 | |||||||
Long-term debt | 1,803 | 1,878 | 1,671 | |||||||
Other liabilities | 251 | SFr 295 | 297 | |||||||
Liabilities | 6,580 | 6,861 | ||||||||
Consolidated VIEs | Collateralized debt obligations | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 0 | 6 | ||||||||
Trading assets | 0 | 75 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 0 | ||||||||
Other assets | 0 | 1 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 0 | 82 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 0 | 7 | ||||||||
Other liabilities | 0 | 0 | ||||||||
Liabilities | 0 | 7 | ||||||||
Consolidated VIEs | CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 4 | 1 | ||||||||
Trading assets | 0 | 0 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 505 | 325 | ||||||||
Other assets | 21 | 21 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 530 | 347 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 4,515 | 4,885 | ||||||||
Long-term debt | 0 | 0 | ||||||||
Other liabilities | 57 | 54 | ||||||||
Liabilities | 4,572 | 4,939 | ||||||||
Consolidated VIEs | Financial intermediation - Securitizations | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 35 | 71 | ||||||||
Trading assets | 1,397 | 1,554 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 54 | 53 | ||||||||
Other assets | 1,011 | 638 | ||||||||
of which loans held-for-sale | 429 | 93 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 2,497 | 2,316 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 1,759 | 1,614 | ||||||||
Other liabilities | 2 | 1 | ||||||||
Liabilities | 1,761 | 1,615 | ||||||||
Consolidated VIEs | Financial intermediation - Funds | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 10 | 11 | ||||||||
Trading assets | 48 | 82 | ||||||||
Other investments | 163 | 113 | ||||||||
Net loans | 45 | 1 | ||||||||
Other assets | 4 | 4 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 270 | 211 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 0 | 1 | ||||||||
Other liabilities | 4 | 4 | ||||||||
Liabilities | 4 | 5 | ||||||||
Consolidated VIEs | Financial intermediation - Loans | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 37 | 39 | ||||||||
Trading assets | 962 | 1,063 | ||||||||
Other investments | 1,066 | 1,052 | ||||||||
Net loans | 33 | 29 | ||||||||
Other assets | 117 | 87 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 32 | 36 | ||||||||
Assets | 2,215 | 2,270 | ||||||||
Trading liabilities | 11 | 8 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 11 | 13 | ||||||||
Other liabilities | 86 | 92 | ||||||||
Liabilities | 108 | 113 | ||||||||
Consolidated VIEs | Financial intermediation - Other | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 10 | 10 | ||||||||
Trading assets | 16 | 14 | ||||||||
Other investments | 242 | 247 | ||||||||
Net loans | 206 | 241 | ||||||||
Other assets | 863 | 943 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 11 | 8 | ||||||||
Assets | 1,337 | 1,455 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 33 | 36 | ||||||||
Other liabilities | 102 | 146 | ||||||||
Liabilities | 135 | 182 | ||||||||
Bank | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | [2] | 131,292 | 101,044 | SFr 91,774 | SFr 99,314 | |||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,890 | 106,997 | ||||||||
Trading assets | 156,877 | 153,895 | ||||||||
Investment securities | 582 | 1,004 | ||||||||
Other investments | 5,814 | 5,634 | ||||||||
Net loans | 301,927 | 304,025 | ||||||||
Other assets | 37,911 | 37,069 | ||||||||
of which loans held-for-sale | 7,406 | 8,886 | ||||||||
Assets | 831,489 | 790,459 | ||||||||
Customer deposits | 390,093 | 384,950 | ||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 30,683 | 27,641 | ||||||||
Trading liabilities | 44,040 | 38,186 | ||||||||
Short-term borrowings | 27,861 | 28,869 | ||||||||
Long-term debt | 168,554 | 151,000 | ||||||||
Other liabilities | 27,810 | 30,406 | ||||||||
Liabilities | SFr 781,449 | 743,696 | ||||||||
Bank | CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Average maturity of CP (in days) | day | 161 | |||||||||
Bank | Consolidated VIEs | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | SFr 96 | 138 | ||||||||
Trading assets | 2,423 | 2,788 | ||||||||
Other investments | 1,471 | 1,412 | ||||||||
Net loans | 843 | 649 | ||||||||
Other assets | 1,997 | 1,674 | ||||||||
of which loans held-for-sale | 429 | 93 | ||||||||
Premises and equipment | 25 | 25 | ||||||||
Assets | 6,830 | 6,661 | ||||||||
Trading liabilities | 11 | 8 | ||||||||
Short-term borrowings | 4,515 | 4,885 | ||||||||
Long-term debt | 1,803 | 1,671 | ||||||||
Other liabilities | 251 | 296 | ||||||||
Liabilities | 6,580 | 6,860 | ||||||||
Bank | Consolidated VIEs | Collateralized debt obligations | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 0 | 6 | ||||||||
Trading assets | 0 | 75 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 0 | ||||||||
Other assets | 0 | 1 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 0 | 82 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 0 | 7 | ||||||||
Other liabilities | 0 | 0 | ||||||||
Liabilities | 0 | 7 | ||||||||
Bank | Consolidated VIEs | CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 4 | 1 | ||||||||
Trading assets | 0 | 0 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 505 | 325 | ||||||||
Other assets | 21 | 21 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 530 | 347 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 4,515 | 4,885 | ||||||||
Long-term debt | 0 | 0 | ||||||||
Other liabilities | 57 | 54 | ||||||||
Liabilities | 4,572 | 4,939 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Securitizations | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 35 | 71 | ||||||||
Trading assets | 1,397 | 1,554 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 54 | 53 | ||||||||
Other assets | 1,011 | 638 | ||||||||
of which loans held-for-sale | 429 | 93 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 2,497 | 2,316 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 1,759 | 1,614 | ||||||||
Other liabilities | 2 | 1 | ||||||||
Liabilities | 1,761 | 1,615 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Funds | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 10 | 11 | ||||||||
Trading assets | 48 | 82 | ||||||||
Other investments | 163 | 113 | ||||||||
Net loans | 45 | 1 | ||||||||
Other assets | 4 | 4 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 270 | 211 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 0 | 1 | ||||||||
Other liabilities | 4 | 4 | ||||||||
Liabilities | 4 | 5 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Loans | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 37 | 39 | ||||||||
Trading assets | 962 | 1,063 | ||||||||
Other investments | 1,066 | 1,052 | ||||||||
Net loans | 33 | 29 | ||||||||
Other assets | 98 | 67 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 14 | 17 | ||||||||
Assets | 2,196 | 2,250 | ||||||||
Trading liabilities | 11 | 8 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 11 | 13 | ||||||||
Other liabilities | 86 | 91 | ||||||||
Liabilities | 108 | 112 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Other | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 10 | 10 | ||||||||
Trading assets | 16 | 14 | ||||||||
Other investments | 242 | 247 | ||||||||
Net loans | 206 | 241 | ||||||||
Other assets | 863 | 943 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 11 | 8 | ||||||||
Assets | 1,337 | 1,455 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 33 | 36 | ||||||||
Other liabilities | 102 | 146 | ||||||||
Liabilities | SFr 135 | SFr 182 | ||||||||
[1] | Includes restricted cash. | |||||||||
[2] | Includes restricted cash. |
VIE - Non-consolidated (Details
VIE - Non-consolidated (Details 8) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
VIE Disclosures | |||
Trading assets | SFr 156,730 | SFr 150,798 | SFr 153,797 |
Net loans | 294,312 | 302,674 | 296,779 |
Other assets | 41,146 | 47,281 | 39,609 |
Assets | 828,480 | 832,166 | 787,295 |
Maximum exposure to loss | 32,721 | 30,055 | |
Non-consolidated VIE assets | 367,505 | 340,237 | |
Other liabilities | 28,787 | 32,088 | 31,043 |
Liabilities | 781,629 | SFr 783,393 | 743,581 |
Collateralized debt obligations | |||
VIE Disclosures | |||
Maximum exposure to loss | 764 | 785 | |
Non-consolidated VIE assets | 7,498 | 8,057 | |
Financial intermediation - Securitizations | |||
VIE Disclosures | |||
Maximum exposure to loss | 7,636 | 7,664 | |
Non-consolidated VIE assets | 165,338 | 141,608 | |
Financial intermediation - Funds | |||
VIE Disclosures | |||
Maximum exposure to loss | 3,087 | 3,430 | |
Non-consolidated VIE assets | 120,087 | 128,984 | |
Financial intermediation - Loans | |||
VIE Disclosures | |||
Maximum exposure to loss | 11,675 | 12,239 | |
Non-consolidated VIE assets | 28,657 | 25,590 | |
Financial intermediation - Other | |||
VIE Disclosures | |||
Maximum exposure to loss | 9,559 | 5,937 | |
Non-consolidated VIE assets | 45,925 | 35,998 | |
Non-consolidated VIEs | |||
VIE Disclosures | |||
Trading assets | 13,902 | 10,509 | |
Net loans | 12,054 | 11,944 | |
Other assets | 760 | 927 | |
Assets | 26,716 | 23,380 | |
Non-consolidated VIEs | Collateralized debt obligations | |||
VIE Disclosures | |||
Trading assets | 198 | 230 | |
Net loans | 485 | 456 | |
Other assets | 14 | 3 | |
Assets | 697 | 689 | |
Non-consolidated VIEs | CP Conduit | |||
VIE Disclosures | |||
Maximum exposure to loss | 6,157 | 6,159 | |
Non-consolidated VIE assets | 13,103 | 13,488 | |
Non-consolidated VIEs | Financial intermediation - Securitizations | |||
VIE Disclosures | |||
Trading assets | 5,176 | 4,897 | |
Net loans | 797 | 904 | |
Other assets | 79 | 26 | |
Assets | 6,052 | 5,827 | |
Non-consolidated VIEs | Financial intermediation - Funds | |||
VIE Disclosures | |||
Trading assets | 934 | 962 | |
Net loans | 2,029 | 1,945 | |
Other assets | 124 | 518 | |
Assets | 3,087 | 3,425 | |
Non-consolidated VIEs | Financial intermediation - Loans | |||
VIE Disclosures | |||
Trading assets | 81 | 109 | |
Net loans | 7,712 | 7,930 | |
Other assets | 0 | 0 | |
Assets | 7,793 | 8,039 | |
Non-consolidated VIEs | Financial intermediation - Other | |||
VIE Disclosures | |||
Trading assets | 7,513 | 4,311 | |
Net loans | 1,031 | 709 | |
Other assets | 543 | 380 | |
Assets | 9,087 | 5,400 | |
Bank | |||
VIE Disclosures | |||
Trading assets | 156,877 | 153,895 | |
Net loans | 301,927 | 304,025 | |
Other assets | 37,911 | 37,069 | |
Assets | 831,489 | 790,459 | |
Other liabilities | 27,810 | 30,406 | |
Liabilities | 781,449 | 743,696 | |
Bank | Non-consolidated VIEs | |||
VIE Disclosures | |||
Trading assets | 13,902 | 10,509 | |
Net loans | 12,047 | 11,944 | |
Other assets | 757 | 922 | |
Assets | 26,706 | 23,375 | |
Maximum exposure to loss | 32,711 | 30,050 | |
Non-consolidated VIE assets | 347,019 | 317,087 | |
Bank | Non-consolidated VIEs | Collateralized debt obligations | |||
VIE Disclosures | |||
Trading assets | 198 | 230 | |
Net loans | 485 | 456 | |
Other assets | 14 | 3 | |
Assets | 697 | 689 | |
Maximum exposure to loss | 764 | 785 | |
Non-consolidated VIE assets | 7,498 | 8,057 | |
Bank | Non-consolidated VIEs | CP Conduit | |||
VIE Disclosures | |||
Maximum exposure to loss | 6,157 | 6,159 | |
Non-consolidated VIE assets | 13,103 | 13,488 | |
Bank | Non-consolidated VIEs | Financial intermediation - Securitizations | |||
VIE Disclosures | |||
Trading assets | 5,176 | 4,897 | |
Net loans | 797 | 904 | |
Other assets | 79 | 26 | |
Assets | 6,052 | 5,827 | |
Maximum exposure to loss | 7,636 | 7,664 | |
Non-consolidated VIE assets | 165,338 | 141,608 | |
Bank | Non-consolidated VIEs | Financial intermediation - Funds | |||
VIE Disclosures | |||
Trading assets | 934 | 962 | |
Net loans | 2,022 | 1,945 | |
Other assets | 121 | 513 | |
Assets | 3,077 | 3,420 | |
Maximum exposure to loss | 3,077 | 3,425 | |
Non-consolidated VIE assets | 119,389 | 127,558 | |
Bank | Non-consolidated VIEs | Financial intermediation - Loans | |||
VIE Disclosures | |||
Trading assets | 81 | 109 | |
Net loans | 7,712 | 7,930 | |
Other assets | 0 | 0 | |
Assets | 7,793 | 8,039 | |
Maximum exposure to loss | 11,675 | 12,239 | |
Non-consolidated VIE assets | 28,657 | 25,590 | |
Bank | Non-consolidated VIEs | Financial intermediation - Other | |||
VIE Disclosures | |||
Trading assets | 7,513 | 4,311 | |
Net loans | 1,031 | 709 | |
Other assets | 543 | 380 | |
Assets | 9,087 | 5,400 | |
Maximum exposure to loss | 9,559 | 5,937 | |
Non-consolidated VIE assets | SFr 26,137 | SFr 14,274 |
Financial instruments (FI) - As
Financial instruments (FI) - Assets measured at fair value (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Assets | |||
Cash and Due from Banks | SFr 368 | SFr 367 | SFr 356 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 88,511 | 85,556 |
Securities received as collateral | 42,479 | 28,655 | 40,219 |
Trading assets | 156,730 | 150,798 | 153,797 |
Available-for-sale Securities, Debt Securities | 489 | 1,068 | 1,006 |
Other investments | 3,733 | 3,791 | 3,550 |
Loans | 13,231 | 14,273 | 12,662 |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 220 | 244 |
Other assets | 9,321 | SFr 11,955 | 10,402 |
Netting impact | (122,200) | (97,900) | |
Recurring basis | |||
Assets | |||
Cash and Due from Banks | 368 | 356 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Securities received as collateral | 42,479 | 40,219 | |
Trading assets | 156,730 | 153,797 | |
Available-for-sale Securities, Debt Securities | 489 | 1,006 | |
Other investments | 3,733 | 3,550 | |
Loans | 13,231 | 12,662 | |
Loans - of which commercial and industrial | 5,097 | 3,774 | |
Loans - of which financial institutions | 4,903 | 4,931 | |
Loans - of which government and public institutions | 2,427 | 3,031 | |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 244 | |
Other assets | 9,321 | 10,402 | |
Other assets - of which loans held-for-sale | 6,725 | 8,213 | |
Netting impact | (122,204) | (98,053) | |
Total assets at fair value | 305,008 | 307,792 | |
Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 2,301 | 2,081 | |
Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,067 | 1,052 | |
Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 70,962 | 66,994 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 27,118 | 26,963 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 11,114 | 12,049 | |
Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 29,479 | 23,516 | |
Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 55,232 | 64,542 | |
Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 25,834 | 17,731 | |
Netting impact | (121,242) | (97,606) | |
Recurring basis | Trading assets | |||
Assets | |||
Netting impact | (121,242) | (97,606) | |
Recurring basis | Other | |||
Assets | |||
Trading assets | 4,702 | 4,530 | |
Recurring basis | Other assets | |||
Assets | |||
Netting impact | (962) | (447) | |
Recurring basis | Level 1 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 36,103 | 36,438 | |
Trading assets | 78,170 | 85,559 | |
Available-for-sale Securities, Debt Securities | 2 | 2 | |
Other investments | 16 | 24 | |
Loans | 0 | 0 | |
Loans - of which commercial and industrial | 0 | 0 | |
Loans - of which financial institutions | 0 | 0 | |
Loans - of which government and public institutions | 0 | 0 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 127 | 101 | |
Other assets - of which loans held-for-sale | 0 | 0 | |
Total assets at fair value | 114,418 | 122,124 | |
Recurring basis | Level 1 | Other equity investments | |||
Assets | |||
Other investments | 16 | 24 | |
Recurring basis | Level 1 | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Recurring basis | Level 1 | Debt securities | |||
Assets | |||
Trading assets | 16,139 | 19,430 | |
Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 15,775 | 19,281 | |
Recurring basis | Level 1 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 41 | 16 | |
Recurring basis | Level 1 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 0 | 0 | |
Recurring basis | Level 1 | Equity securities | |||
Assets | |||
Trading assets | 52,379 | 60,675 | |
Recurring basis | Level 1 | Derivative instruments | |||
Assets | |||
Trading assets | 7,353 | 3,539 | |
Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 2,940 | 1,091 | |
Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 180 | 23 | |
Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 4,220 | 2,417 | |
Recurring basis | Level 1 | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 0 | 0 | |
Recurring basis | Level 1 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 5 | 5 | |
Recurring basis | Level 1 | Other | |||
Assets | |||
Trading assets | 2,299 | 1,915 | |
Recurring basis | Level 2 | |||
Assets | |||
Cash and Due from Banks | 368 | 356 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Securities received as collateral | 6,206 | 3,780 | |
Trading assets | 190,495 | 157,151 | |
Available-for-sale Securities, Debt Securities | 487 | 1,004 | |
Other investments | 7 | 5 | |
Loans | 9,718 | 8,945 | |
Loans - of which commercial and industrial | 3,624 | 2,491 | |
Loans - of which financial institutions | 3,803 | 3,730 | |
Loans - of which government and public institutions | 1,980 | 2,200 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 7,575 | 8,902 | |
Other assets - of which loans held-for-sale | 4,421 | 6,594 | |
Total assets at fair value | 293,304 | 265,699 | |
Recurring basis | Level 2 | Other equity investments | |||
Assets | |||
Other investments | 6 | 5 | |
Recurring basis | Level 2 | Life finance instruments | |||
Assets | |||
Other investments | 1 | 0 | |
Recurring basis | Level 2 | Debt securities | |||
Assets | |||
Trading assets | 51,625 | 45,641 | |
Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 11,180 | 7,484 | |
Recurring basis | Level 2 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 9,431 | 10,905 | |
Recurring basis | Level 2 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 28,377 | 23,199 | |
Recurring basis | Level 2 | Equity securities | |||
Assets | |||
Trading assets | 2,201 | 2,862 | |
Recurring basis | Level 2 | Derivative instruments | |||
Assets | |||
Trading assets | 135,622 | 108,264 | |
Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 83,790 | 66,764 | |
Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 24,676 | 21,754 | |
Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 21,252 | 13,918 | |
Recurring basis | Level 2 | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 4,928 | 5,336 | |
Recurring basis | Level 2 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 142 | 66 | |
Recurring basis | Level 2 | Other | |||
Assets | |||
Trading assets | 1,047 | 384 | |
Recurring basis | Level 3 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 170 | 1 | |
Trading assets | 8,797 | 7,885 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 2,839 | 2,523 | |
Loans | 3,513 | 3,717 | |
Loans - of which commercial and industrial | 1,473 | 1,283 | |
Loans - of which financial institutions | 1,100 | 1,201 | |
Loans - of which government and public institutions | 447 | 831 | |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 244 | |
Other assets | 2,581 | 1,846 | |
Other assets - of which loans held-for-sale | 2,304 | 1,619 | |
Total assets at fair value | 18,109 | 16,216 | |
Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | 1,765 | 1,463 | |
Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 1,066 | 1,052 | |
Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 3,198 | 1,923 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 163 | 198 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 1,642 | 1,128 | |
Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 1,102 | 317 | |
Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | 142 | 197 | |
Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | 4,101 | 3,534 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 639 | 554 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 138 | 152 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 1,067 | 1,040 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 1,172 | 879 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 1,085 | 909 | |
Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | 1,356 | 2,231 | |
Recurring basis | Fair value measured at net asset value per share | |||
Assets | |||
Trading assets | 510 | 808 | |
Other investments | 871 | 998 | |
Total assets at fair value | 1,381 | 1,806 | |
Recurring basis | Fair value measured at net asset value per share | Other equity investments | |||
Assets | |||
Other investments | 514 | 589 | |
Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Assets | |||
Trading assets | 510 | 808 | |
Bank | |||
Assets | |||
Cash and Due from Banks | 368 | 356 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Securities received as collateral | 42,479 | 40,219 | |
Trading assets | 156,877 | 153,895 | |
Available-for-sale Securities, Debt Securities | 487 | 1,004 | |
Other investments | 3,731 | 3,548 | |
Loans | 13,231 | 12,661 | |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 244 | |
Other assets | 9,321 | 10,402 | |
Netting impact | (122,200) | (97,900) | |
Bank | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 368 | 356 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Securities received as collateral | 42,479 | 40,219 | |
Trading assets | 156,877 | 153,895 | |
Available-for-sale Securities, Debt Securities | 487 | 1,004 | |
Other investments | 3,731 | 3,548 | |
Loans | 13,231 | 12,661 | |
Loans - of which commercial and industrial | 5,097 | 3,774 | |
Loans - of which financial institutions | 4,903 | 4,931 | |
Loans - of which government and public institutions | 2,427 | 3,030 | |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 244 | |
Other assets | 9,321 | 10,402 | |
Other assets - of which loans held-for-sale | 6,725 | 8,213 | |
Netting impact | (122,204) | (98,053) | |
Total assets at fair value | 305,151 | 307,885 | |
Bank | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 2,301 | 2,081 | |
Other investments, measured at net asset value per share | 589 | ||
Bank | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,067 | 1,052 | |
Bank | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 71,072 | 67,030 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 27,118 | 26,963 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 11,224 | 12,085 | |
Bank | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 29,479 | 23,516 | |
Bank | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 55,269 | 64,604 | |
Bank | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 25,834 | 17,730 | |
Netting impact | (121,242) | (97,606) | |
Bank | Recurring basis | Trading assets | |||
Assets | |||
Netting impact | (121,242) | (97,606) | |
Bank | Recurring basis | Other | |||
Assets | |||
Trading assets | 4,702 | 4,531 | |
Bank | Recurring basis | Other assets | |||
Assets | |||
Netting impact | (962) | (447) | |
Bank | Recurring basis | Level 1 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 36,103 | 36,438 | |
Trading assets | 78,208 | 85,622 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 16 | 24 | |
Loans | 0 | 0 | |
Loans - of which commercial and industrial | 0 | 0 | |
Loans - of which financial institutions | 0 | 0 | |
Loans - of which government and public institutions | 0 | 0 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 127 | 101 | |
Other assets - of which loans held-for-sale | 0 | 0 | |
Total assets at fair value | 114,454 | 122,185 | |
Bank | Recurring basis | Level 1 | Other equity investments | |||
Assets | |||
Other investments | 16 | 24 | |
Bank | Recurring basis | Level 1 | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Recurring basis | Level 1 | Debt securities | |||
Assets | |||
Trading assets | 16,139 | 19,430 | |
Bank | Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 15,775 | 19,281 | |
Bank | Recurring basis | Level 1 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 41 | 16 | |
Bank | Recurring basis | Level 1 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 0 | 0 | |
Bank | Recurring basis | Level 1 | Equity securities | |||
Assets | |||
Trading assets | 52,416 | 60,737 | |
Bank | Recurring basis | Level 1 | Derivative instruments | |||
Assets | |||
Trading assets | 7,353 | 3,539 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 2,940 | 1,091 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 180 | 23 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 4,220 | 2,417 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 0 | 0 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 5 | 5 | |
Bank | Recurring basis | Level 1 | Other | |||
Assets | |||
Trading assets | 2,300 | 1,916 | |
Bank | Recurring basis | Level 2 | |||
Assets | |||
Cash and Due from Banks | 368 | 356 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Securities received as collateral | 6,206 | 3,780 | |
Trading assets | 190,604 | 157,186 | |
Available-for-sale Securities, Debt Securities | 487 | 1,004 | |
Other investments | 7 | 5 | |
Loans | 9,718 | 8,945 | |
Loans - of which commercial and industrial | 3,624 | 2,491 | |
Loans - of which financial institutions | 3,803 | 3,730 | |
Loans - of which government and public institutions | 1,980 | 2,200 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 7,575 | 8,902 | |
Other assets - of which loans held-for-sale | 4,421 | 6,594 | |
Total assets at fair value | 293,413 | 265,734 | |
Bank | Recurring basis | Level 2 | Other equity investments | |||
Assets | |||
Other investments | 6 | 5 | |
Bank | Recurring basis | Level 2 | Life finance instruments | |||
Assets | |||
Other investments | 1 | 0 | |
Bank | Recurring basis | Level 2 | Debt securities | |||
Assets | |||
Trading assets | 51,735 | 45,677 | |
Bank | Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 11,180 | 7,484 | |
Bank | Recurring basis | Level 2 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 9,541 | 10,941 | |
Bank | Recurring basis | Level 2 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 28,377 | 23,199 | |
Bank | Recurring basis | Level 2 | Equity securities | |||
Assets | |||
Trading assets | 2,201 | 2,862 | |
Bank | Recurring basis | Level 2 | Derivative instruments | |||
Assets | |||
Trading assets | 135,622 | 108,263 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 83,790 | 66,763 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 24,676 | 21,754 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 21,252 | 13,918 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 4,928 | 5,336 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 142 | 66 | |
Bank | Recurring basis | Level 2 | Other | |||
Assets | |||
Trading assets | 1,046 | 384 | |
Bank | Recurring basis | Level 3 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 170 | 1 | |
Trading assets | 8,797 | 7,885 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 2,839 | 2,523 | |
Loans | 3,513 | 3,716 | |
Loans - of which commercial and industrial | 1,473 | 1,283 | |
Loans - of which financial institutions | 1,100 | 1,201 | |
Loans - of which government and public institutions | 447 | 830 | |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 244 | |
Other assets | 2,581 | 1,846 | |
Other assets - of which loans held-for-sale | 2,304 | 1,619 | |
Total assets at fair value | 18,109 | 16,215 | |
Bank | Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | 1,765 | 1,463 | |
Bank | Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 1,066 | 1,052 | |
Bank | Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 3,198 | 1,923 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 163 | 198 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 1,642 | 1,128 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 1,102 | 317 | |
Bank | Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | 142 | 197 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | 4,101 | 3,534 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 639 | 554 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 138 | 152 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 1,067 | 1,040 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 1,172 | 879 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 1,085 | 909 | |
Bank | Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | 1,356 | 2,231 | |
Bank | Recurring basis | Fair value measured at net asset value per share | |||
Assets | |||
Trading assets | 510 | 808 | |
Other investments | 869 | 996 | |
Total assets at fair value | 1,379 | 1,804 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Other equity investments | |||
Assets | |||
Other investments | 514 | ||
Bank | Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Assets | |||
Trading assets | SFr 510 | SFr 808 |
FI - Liabilities measured at fa
FI - Liabilities measured at fair value (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Liabilities | |||
Due to banks | SFr 484 | SFr 430 | SFr 322 |
Customer deposits | 3,603 | 3,572 | 3,339 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,379 | 24,271 | 10,715 |
Obligation to return securities received as collateral | 42,479 | 28,655 | 40,219 |
Trading liabilities | 44,040 | 44,877 | 38,186 |
Short-term borrowings | 12,079 | 10,084 | 11,333 |
Long-term debt | 68,798 | 60,360 | 70,331 |
Other liabilities | 7,384 | SFr 7,547 | 7,891 |
Netting impact | (129,700) | (103,800) | |
Recurring basis | |||
Liabilities | |||
Due to banks | 484 | 322 | |
Customer deposits | 3,603 | 3,339 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,379 | 10,715 | |
Obligation to return securities received as collateral | 42,479 | 40,219 | |
Trading liabilities | 44,040 | 38,186 | |
Short-term borrowings | 12,079 | 11,333 | |
Long-term debt | 68,798 | 70,331 | |
Other liabilities | 7,384 | 7,891 | |
Netting impact | (129,761) | (103,890) | |
Total liabilities at fair value | 196,246 | 182,336 | |
Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 12,539 | 10,182 | |
Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 34,694 | 39,084 | |
Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 7,914 | 7,594 | |
Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 5,502 | ||
Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 1,803 | ||
Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 7,606 | 8,922 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,810 | 3,889 | |
Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 21,000 | 15,792 | |
Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 15,434 | 13,472 | |
Netting impact | (129,640) | (103,742) | |
Recurring basis | Trading liabilities | |||
Liabilities | |||
Netting impact | (129,640) | (103,742) | |
Recurring basis | Other liabilities | |||
Liabilities | |||
Netting impact | (121) | (148) | |
Recurring basis | Level 1 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 36,103 | 36,438 | |
Trading liabilities | 31,233 | 23,010 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 3 | 0 | |
Total liabilities at fair value | 67,339 | 59,448 | |
Recurring basis | Level 1 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Recurring basis | Level 1 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Recurring basis | Level 1 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Recurring basis | Level 1 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 0 | ||
Recurring basis | Level 1 | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 0 | ||
Recurring basis | Level 1 | Debt securities | |||
Liabilities | |||
Trading liabilities | 2,906 | 3,636 | |
Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,395 | 3,544 | |
Recurring basis | Level 1 | Equity securities | |||
Liabilities | |||
Trading liabilities | 20,717 | 15,628 | |
Recurring basis | Level 1 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 7,610 | 3,746 | |
Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 2,886 | 1,101 | |
Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 175 | 31 | |
Recurring basis | Level 1 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 4,531 | 2,603 | |
Recurring basis | Level 2 | |||
Liabilities | |||
Due to banks | 484 | 322 | |
Customer deposits | 3,170 | 2,865 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,379 | 10,715 | |
Obligation to return securities received as collateral | 6,206 | 3,780 | |
Trading liabilities | 138,714 | 115,062 | |
Short-term borrowings | 11,599 | 10,336 | |
Long-term debt | 60,307 | 57,721 | |
Other liabilities | 6,301 | 6,654 | |
Total liabilities at fair value | 244,160 | 207,455 | |
Recurring basis | Level 2 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 11,783 | 9,291 | |
Recurring basis | Level 2 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 28,148 | 27,626 | |
Recurring basis | Level 2 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 7,914 | 7,589 | |
Recurring basis | Level 2 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 5,502 | ||
Recurring basis | Level 2 | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 1,148 | ||
Recurring basis | Level 2 | Debt securities | |||
Liabilities | |||
Trading liabilities | 4,700 | 5,286 | |
Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 415 | 345 | |
Recurring basis | Level 2 | Equity securities | |||
Liabilities | |||
Trading liabilities | 207 | 109 | |
Recurring basis | Level 2 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 133,807 | 109,667 | |
Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 81,916 | 64,643 | |
Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 27,592 | 26,156 | |
Recurring basis | Level 2 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 5,191 | 5,963 | |
Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 18,117 | 12,518 | |
Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 433 | 474 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 170 | 1 | |
Trading liabilities | 3,727 | 3,854 | |
Short-term borrowings | 480 | 997 | |
Long-term debt | 8,491 | 12,610 | |
Other liabilities | 1,201 | 1,385 | |
Total liabilities at fair value | 14,502 | 19,321 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 756 | 891 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 6,546 | 11,458 | |
Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 5 | |
Recurring basis | Level 3 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 0 | ||
Recurring basis | Level 3 | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 655 | ||
Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | 70 | 53 | |
Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 3,657 | 3,801 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 211 | 167 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 92 | 98 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 1,558 | 1,211 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 1,401 | 1,921 | |
Recurring basis | Fair value measured at net asset value per share | |||
Liabilities | |||
Trading liabilities | 6 | 2 | |
Total liabilities at fair value | 6 | 2 | |
Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Liabilities | |||
Trading liabilities | 6 | 2 | |
Bank | |||
Liabilities | |||
Due to banks | 484 | 322 | |
Customer deposits | 3,603 | 3,339 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,473 | 10,823 | |
Obligation to return securities received as collateral | 42,479 | 40,219 | |
Trading liabilities | 44,040 | 38,186 | |
Short-term borrowings | 12,079 | 11,333 | |
Long-term debt | 67,959 | 69,406 | |
Other liabilities | 7,365 | 7,869 | |
Netting impact | (129,700) | (103,800) | |
Bank | Recurring basis | |||
Liabilities | |||
Due to banks | 484 | 322 | |
Customer deposits | 3,603 | 3,339 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,473 | 10,823 | |
Obligation to return securities received as collateral | 42,479 | 40,219 | |
Trading liabilities | 44,040 | 38,186 | |
Short-term borrowings | 12,079 | 11,333 | |
Long-term debt | 67,959 | 69,406 | |
Other liabilities | 7,365 | 7,869 | |
Netting impact | (129,848) | (103,934) | |
Total liabilities at fair value | 195,482 | 181,497 | |
Bank | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 12,539 | 10,182 | |
Bank | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 34,694 | 39,084 | |
Bank | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 7,917 | 7,626 | |
Bank | Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 7,550 | 7,578 | |
Bank | Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 1,803 | ||
Bank | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 7,606 | 8,922 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,810 | 3,889 | |
Bank | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 21,000 | 15,792 | |
Bank | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 15,434 | 13,472 | |
Netting impact | (129,727) | (103,786) | |
Bank | Recurring basis | Trading liabilities | |||
Liabilities | |||
Netting impact | (129,727) | (103,786) | |
Bank | Recurring basis | Other liabilities | |||
Liabilities | |||
Netting impact | (121) | (148) | |
Bank | Recurring basis | Level 1 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 36,103 | 36,438 | |
Trading liabilities | 31,233 | 23,009 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 3 | 0 | |
Total liabilities at fair value | 67,339 | 59,447 | |
Bank | Recurring basis | Level 1 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 1 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 1 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 1 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 1 | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 0 | ||
Bank | Recurring basis | Level 1 | Debt securities | |||
Liabilities | |||
Trading liabilities | 2,906 | 3,636 | |
Bank | Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,395 | 3,544 | |
Bank | Recurring basis | Level 1 | Equity securities | |||
Liabilities | |||
Trading liabilities | 20,717 | 15,628 | |
Bank | Recurring basis | Level 1 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 7,610 | 3,745 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 2,886 | 1,101 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 175 | 31 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 4,531 | 2,603 | |
Bank | Recurring basis | Level 2 | |||
Liabilities | |||
Due to banks | 484 | 322 | |
Customer deposits | 3,170 | 2,865 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,473 | 10,823 | |
Obligation to return securities received as collateral | 6,206 | 3,780 | |
Trading liabilities | 138,801 | 115,107 | |
Short-term borrowings | 11,599 | 10,336 | |
Long-term debt | 59,454 | 56,657 | |
Other liabilities | 6,298 | 6,650 | |
Total liabilities at fair value | 243,485 | 206,540 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 11,783 | 9,291 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 28,148 | 27,626 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 7,917 | 7,621 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 7,205 | 7,438 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 1,148 | ||
Bank | Recurring basis | Level 2 | Debt securities | |||
Liabilities | |||
Trading liabilities | 4,700 | 5,286 | |
Bank | Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 415 | 345 | |
Bank | Recurring basis | Level 2 | Equity securities | |||
Liabilities | |||
Trading liabilities | 207 | 109 | |
Bank | Recurring basis | Level 2 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 133,894 | 109,712 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 82,003 | 64,687 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 27,592 | 26,156 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 5,191 | 5,963 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 18,117 | 12,518 | |
Bank | Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 433 | 474 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 170 | 1 | |
Trading liabilities | 3,727 | 3,854 | |
Short-term borrowings | 480 | 997 | |
Long-term debt | 8,505 | 12,749 | |
Other liabilities | 1,185 | 1,367 | |
Total liabilities at fair value | 14,500 | 19,442 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 756 | 891 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 6,546 | 11,458 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 5 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 345 | 140 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 655 | ||
Bank | Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Bank | Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | 70 | 53 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 3,657 | 3,801 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 211 | 167 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 92 | 98 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 1,558 | 1,211 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 1,401 | 1,921 | |
Bank | Recurring basis | Fair value measured at net asset value per share | |||
Liabilities | |||
Trading liabilities | 6 | 2 | |
Total liabilities at fair value | 6 | 2 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Liabilities | |||
Trading liabilities | SFr 6 | SFr 2 |
FI - Roll-forward of assets mea
FI - Roll-forward of assets measured at fair value on recurring basis (Details 4) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
Assets measured at fair value on a recurring basis for level 3 | ||||||
Retained Earnings (Accumulated Deficit) | SFr 32,808 | SFr 32,808 | SFr 31,816 | SFr 30,634 | ||
Recurring basis | Securities received as collateral | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1 | SFr 30 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 173 | 0 | ||||
Sales, assets | (1) | (26) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (3) | 0 | ||||
Balance at end of period, assets | 170 | 170 | 4 | |||
Recurring basis | Securities received as collateral | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 0 | 0 | ||||
Recurring basis | Trading assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 7,885 | 8,980 | ||||
Transfers in, assets | 2,489 | 705 | ||||
Transfers out, assets | (1,502) | (1,697) | ||||
Purchases, assets | 4,272 | 8,831 | ||||
Sales, assets | (4,657) | (9,435) | ||||
Issuances, assets | 1,290 | 556 | ||||
Settlements, assets | (1,625) | (838) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 169 | (75) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 796 | 721 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | (1) | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (319) | (96) | ||||
Balance at end of period, assets | 8,797 | 8,797 | 7,652 | |||
Recurring basis | Trading assets | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 1,076 | 710 | ||||
Recurring basis | Trading assets | Debt securities | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,923 | 2,242 | ||||
Transfers in, assets | 1,654 | 484 | ||||
Transfers out, assets | (708) | (874) | ||||
Purchases, assets | 2,527 | 1,597 | ||||
Sales, assets | (2,000) | (1,777) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 59 | 16 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (122) | 50 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (135) | (27) | ||||
Balance at end of period, assets | 3,198 | 3,198 | 1,711 | |||
Recurring basis | Trading assets | Debt securities | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (19) | 163 | ||||
Recurring basis | Trading assets | Debt securities | Corporate debt securities | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,128 | 1,260 | ||||
Transfers in, assets | 559 | 384 | ||||
Transfers out, assets | (564) | (568) | ||||
Purchases, assets | 1,718 | 1,055 | ||||
Sales, assets | (1,230) | (1,234) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 67 | 16 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 42 | 6 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (78) | (18) | ||||
Balance at end of period, assets | 1,642 | 1,642 | 901 | |||
Recurring basis | Trading assets | Debt securities | Corporate debt securities | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 96 | 158 | ||||
Recurring basis | Trading assets | Debt securities | Debt securities issued by foreign governments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 198 | 232 | ||||
Transfers in, assets | 32 | 0 | ||||
Transfers out, assets | (2) | (43) | ||||
Purchases, assets | 33 | 68 | ||||
Sales, assets | (49) | (56) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | 3 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (5) | 3 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (45) | (1) | ||||
Balance at end of period, assets | 163 | 163 | 206 | |||
Recurring basis | Trading assets | Debt securities | Debt securities issued by foreign governments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (5) | 1 | ||||
Recurring basis | Trading assets | Debt securities | RMBS | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 317 | 432 | ||||
Transfers in, assets | 902 | 52 | ||||
Transfers out, assets | (70) | (216) | ||||
Purchases, assets | 557 | 421 | ||||
Sales, assets | (525) | (379) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (4) | (1) | ||||
Gain (loss) on all other activity included in trading revenues, assets | (70) | 41 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (5) | (5) | ||||
Balance at end of period, assets | 1,102 | 1,102 | 345 | |||
Recurring basis | Trading assets | Debt securities | RMBS | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (55) | 0 | ||||
Recurring basis | Trading assets | Equity securities | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 197 | 132 | ||||
Transfers in, assets | 16 | 39 | ||||
Transfers out, assets | (21) | (37) | ||||
Purchases, assets | 38 | 57 | ||||
Sales, assets | (18) | (38) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (67) | 4 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (3) | (2) | ||||
Balance at end of period, assets | 142 | 142 | 155 | |||
Recurring basis | Trading assets | Equity securities | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 85 | (1) | ||||
Recurring basis | Trading assets | Derivative instruments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 3,534 | 3,298 | ||||
Transfers in, assets | 719 | 140 | ||||
Transfers out, assets | (629) | (417) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 1,290 | 556 | ||||
Settlements, assets | (1,606) | (818) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 111 | (88) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 834 | 405 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | (1) | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (151) | (42) | ||||
Balance at end of period, assets | 4,101 | 4,101 | 3,034 | |||
Recurring basis | Trading assets | Derivative instruments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 999 | 507 | ||||
Recurring basis | Trading assets | Derivative instruments | Interest rate derivatives | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 554 | 507 | ||||
Transfers in, assets | 99 | 23 | ||||
Transfers out, assets | (69) | (9) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 81 | 52 | ||||
Settlements, assets | (49) | (42) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (22) | 2 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 71 | (6) | ||||
Gain (loss) on transfers in/out included in other revenues, assets | (1) | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (25) | (15) | ||||
Balance at end of period, assets | 639 | 639 | 512 | |||
Recurring basis | Trading assets | Derivative instruments | Interest rate derivatives | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 108 | (31) | ||||
Recurring basis | Trading assets | Derivative instruments | Equity/Index-related products | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,040 | 1,054 | ||||
Transfers in, assets | 220 | 48 | ||||
Transfers out, assets | (240) | (333) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 345 | 199 | ||||
Settlements, assets | (597) | (259) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 35 | (84) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 345 | 133 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (81) | (6) | ||||
Balance at end of period, assets | 1,067 | 1,067 | 752 | |||
Recurring basis | Trading assets | Derivative instruments | Equity/Index-related products | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 361 | 289 | ||||
Recurring basis | Trading assets | Derivative instruments | Credit derivatives | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 879 | 673 | ||||
Transfers in, assets | 379 | 58 | ||||
Transfers out, assets | (305) | (65) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 700 | 150 | ||||
Settlements, assets | (771) | (360) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 100 | (7) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 211 | 211 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (21) | (7) | ||||
Balance at end of period, assets | 1,172 | 1,172 | 653 | |||
Recurring basis | Trading assets | Derivative instruments | Credit derivatives | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 325 | 140 | ||||
Recurring basis | Trading assets | Derivative instruments | Foreign exchange derivatives | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 152 | 258 | ||||
Transfers in, assets | 21 | 11 | ||||
Transfers out, assets | (15) | (10) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 9 | 8 | ||||
Settlements, assets | (24) | (9) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (2) | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 0 | (30) | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (3) | (3) | ||||
Balance at end of period, assets | 138 | 138 | 225 | |||
Recurring basis | Trading assets | Derivative instruments | Foreign exchange derivatives | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (5) | (17) | ||||
Recurring basis | Trading assets | Derivative instruments | Other derivatives | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 909 | 806 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 155 | 147 | ||||
Settlements, assets | (165) | (148) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 1 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 207 | 97 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (21) | (11) | ||||
Balance at end of period, assets | 1,085 | 1,085 | 892 | |||
Recurring basis | Trading assets | Derivative instruments | Other derivatives | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 210 | 126 | ||||
Recurring basis | Trading assets | Other | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 2,231 | 3,308 | ||||
Transfers in, assets | 100 | 42 | ||||
Transfers out, assets | (144) | (369) | ||||
Purchases, assets | 1,707 | 7,177 | ||||
Sales, assets | (2,639) | (7,620) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | (19) | (20) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (1) | (3) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 151 | 262 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (30) | (25) | ||||
Balance at end of period, assets | 1,356 | 1,356 | 2,752 | |||
Recurring basis | Trading assets | Other | Other derivatives | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 11 | 41 | ||||
Recurring basis | Other investments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 2,523 | 1,309 | ||||
Transfers in, assets | 2 | 48 | ||||
Transfers out, assets | 0 | (5) | ||||
Purchases, assets | 371 | 33 | ||||
Sales, assets | (107) | (110) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 95 | 100 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | (19) | 6 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (26) | (12) | ||||
Balance at end of period, assets | 2,839 | 2,839 | 1,369 | |||
Recurring basis | Other investments | Equity/Index-related products | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,463 | |||||
Transfers in, assets | 1 | |||||
Transfers out, assets | 0 | |||||
Purchases, assets | 354 | |||||
Sales, assets | (19) | |||||
Issuances, assets | 0 | |||||
Settlements, assets | 0 | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | |||||
Gain (loss) on all other activity included in trading revenues, assets | (11) | |||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | |||||
Gain (loss) on all other activity included in other revenues, assets | (18) | |||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | |||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | |||||
Foreign currency translation impact, assets | (5) | |||||
Balance at end of period, assets | 1,765 | 1,765 | ||||
Recurring basis | Other investments | Life finance instruments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,052 | 1,067 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 17 | 20 | ||||
Sales, assets | (88) | (88) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 106 | 96 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (21) | (10) | ||||
Balance at end of period, assets | 1,066 | 1,066 | 1,085 | |||
Recurring basis | Other investments | Life finance instruments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 74 | 98 | ||||
Recurring basis | Other investments | Equity securities | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (35) | |||||
Recurring basis | Other investments | Other | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 38 | 207 | ||||
Recurring basis | Loans | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 3,835 | 4,324 | ||||
Transfers in, assets | 641 | 296 | ||||
Transfers out, assets | (375) | (320) | ||||
Purchases, assets | 90 | 19 | ||||
Sales, assets | (479) | (190) | ||||
Issuances, assets | 742 | 769 | ||||
Settlements, assets | (569) | (726) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 38 | 8 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (336) | 20 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (74) | (37) | ||||
Balance at end of period, assets | 3,513 | 3,513 | 4,163 | |||
Recurring basis | Loans | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (296) | 30 | ||||
Recurring basis | Commercial and industrial loans | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,401 | 1,949 | ||||
Transfers in, assets | 390 | 81 | ||||
Transfers out, assets | (137) | (184) | ||||
Purchases, assets | 45 | 19 | ||||
Sales, assets | (282) | (118) | ||||
Issuances, assets | 447 | 76 | ||||
Settlements, assets | (173) | (198) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 3 | 5 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (194) | 1 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (27) | (13) | ||||
Balance at end of period, assets | 1,473 | 1,473 | 1,618 | |||
Recurring basis | Commercial and industrial loans | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (205) | 21 | ||||
Recurring basis | Financial institutions | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,201 | 1,391 | ||||
Transfers in, assets | 44 | 215 | ||||
Transfers out, assets | (94) | 0 | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | (32) | (71) | ||||
Issuances, assets | 275 | 185 | ||||
Settlements, assets | (211) | (503) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 13 | (1) | ||||
Gain (loss) on all other activity included in trading revenues, assets | (70) | 15 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (26) | (4) | ||||
Balance at end of period, assets | 1,100 | 1,100 | 1,227 | |||
Recurring basis | Financial institutions | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 14 | |||||
Recurring basis | Financial institutions | Equity securities | Life finance instruments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (77) | |||||
Recurring basis | Governments and public institutions | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 831 | 446 | ||||
Transfers in, assets | 15 | 0 | ||||
Transfers out, assets | (144) | (58) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | (163) | (1) | ||||
Issuances, assets | 3 | 248 | ||||
Settlements, assets | (56) | (14) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 22 | 3 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (47) | (9) | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (14) | (10) | ||||
Balance at end of period, assets | 447 | 447 | 605 | |||
Recurring basis | Governments and public institutions | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (8) | (15) | ||||
Recurring basis | Real estate | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 515 | |||||
Transfers in, assets | 0 | |||||
Transfers out, assets | (78) | |||||
Purchases, assets | 0 | |||||
Sales, assets | 0 | |||||
Issuances, assets | 260 | |||||
Settlements, assets | (11) | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | |||||
Gain (loss) on all other activity included in trading revenues, assets | 10 | |||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | |||||
Gain (loss) on all other activity included in other revenues, assets | 0 | |||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | |||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | |||||
Foreign currency translation impact, assets | (10) | |||||
Balance at end of period, assets | 687 | |||||
Recurring basis | Real estate | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 10 | |||||
Recurring basis | Other intangible assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 244 | 163 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 0 | 9 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | (31) | (7) | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (4) | (3) | ||||
Balance at end of period, assets | 209 | 209 | 162 | |||
Recurring basis | Other intangible assets | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (31) | (7) | ||||
Recurring basis | Other assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,846 | 1,543 | ||||
Transfers in, assets | 1,432 | 102 | ||||
Transfers out, assets | (383) | (178) | ||||
Purchases, assets | 2,400 | 938 | ||||
Sales, assets | (2,260) | (808) | ||||
Issuances, assets | 282 | 290 | ||||
Settlements, assets | (543) | (178) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 16 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (60) | 24 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (149) | (15) | ||||
Balance at end of period, assets | 2,581 | 2,581 | 1,718 | |||
Recurring basis | Other assets | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (6) | 0 | ||||
Recurring basis | Other assets - of which loans held-for-sale | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,619 | 1,235 | ||||
Transfers in, assets | 1,409 | 96 | ||||
Transfers out, assets | (339) | (125) | ||||
Purchases, assets | 2,373 | 903 | ||||
Sales, assets | (2,259) | (805) | ||||
Issuances, assets | 282 | 290 | ||||
Settlements, assets | (543) | (178) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (8) | 1 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (87) | 45 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (143) | (13) | ||||
Balance at end of period, assets | 2,304 | 2,304 | 1,449 | |||
Recurring basis | Other assets - of which loans held-for-sale | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (87) | 10 | ||||
Recurring basis | Assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 16,334 | 16,349 | ||||
Transfers in, assets | 1,611 | 4,564 | 1,151 | |||
Transfers out, assets | (1,466) | (2,260) | (2,200) | |||
Purchases, assets | 7,306 | 9,830 | ||||
Sales, assets | (7,504) | (10,569) | ||||
Issuances, assets | 2,314 | 1,615 | ||||
Settlements, assets | (2,737) | (1,742) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 223 | (67) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 495 | 865 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | (1) | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | (50) | (1) | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (575) | (163) | ||||
Balance at end of period, assets | 18,109 | 18,109 | 15,068 | |||
Recurring basis | Assets | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 781 | 940 | ||||
Nonrecurring basis | Accounting Standards Update 2019-05 [Member] | Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Retained Earnings (Accumulated Deficit) | SFr 118 | |||||
Bank | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Retained Earnings (Accumulated Deficit) | 15,694 | 15,694 | SFr 13,492 | |||
Bank | Recurring basis | Securities received as collateral | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1 | 30 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 173 | 0 | ||||
Sales, assets | (1) | (26) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (3) | 0 | ||||
Balance at end of period, assets | 170 | 170 | 4 | |||
Bank | Recurring basis | Securities received as collateral | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 0 | 0 | ||||
Bank | Recurring basis | Trading assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 7,885 | 8,980 | ||||
Transfers in, assets | 2,489 | 705 | ||||
Transfers out, assets | (1,502) | (1,697) | ||||
Purchases, assets | 4,272 | 8,831 | ||||
Sales, assets | (4,657) | (9,435) | ||||
Issuances, assets | 1,290 | 556 | ||||
Settlements, assets | (1,625) | (838) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 169 | (75) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 796 | 721 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | (1) | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (319) | (96) | ||||
Balance at end of period, assets | 8,797 | 8,797 | 7,652 | |||
Bank | Recurring basis | Trading assets | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 1,076 | 710 | ||||
Bank | Recurring basis | Trading assets | Debt securities | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,923 | 2,242 | ||||
Transfers in, assets | 1,654 | 484 | ||||
Transfers out, assets | (708) | (874) | ||||
Purchases, assets | 2,527 | 1,597 | ||||
Sales, assets | (2,000) | (1,777) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 59 | 16 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (122) | 50 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (135) | (27) | ||||
Balance at end of period, assets | 3,198 | 3,198 | 1,711 | |||
Bank | Recurring basis | Trading assets | Debt securities | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (19) | 163 | ||||
Bank | Recurring basis | Trading assets | Debt securities | Corporate debt securities | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,128 | 1,260 | ||||
Transfers in, assets | 559 | 384 | ||||
Transfers out, assets | (564) | (568) | ||||
Purchases, assets | 1,718 | 1,055 | ||||
Sales, assets | (1,230) | (1,234) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 67 | 16 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 42 | 6 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (78) | (18) | ||||
Balance at end of period, assets | 1,642 | 1,642 | 901 | |||
Bank | Recurring basis | Trading assets | Debt securities | Corporate debt securities | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 96 | 158 | ||||
Bank | Recurring basis | Trading assets | Debt securities | Debt securities issued by foreign governments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 198 | 232 | ||||
Transfers in, assets | 32 | 0 | ||||
Transfers out, assets | (2) | (43) | ||||
Purchases, assets | 33 | 68 | ||||
Sales, assets | (49) | (56) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | 3 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (5) | 3 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (45) | (1) | ||||
Balance at end of period, assets | 163 | 163 | 206 | |||
Bank | Recurring basis | Trading assets | Debt securities | Debt securities issued by foreign governments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (5) | 1 | ||||
Bank | Recurring basis | Trading assets | Debt securities | RMBS | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 317 | 432 | ||||
Transfers in, assets | 902 | 52 | ||||
Transfers out, assets | (70) | (216) | ||||
Purchases, assets | 557 | 421 | ||||
Sales, assets | (525) | (379) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (4) | (1) | ||||
Gain (loss) on all other activity included in trading revenues, assets | (70) | 41 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (5) | (5) | ||||
Balance at end of period, assets | 1,102 | 1,102 | 345 | |||
Bank | Recurring basis | Trading assets | Debt securities | RMBS | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (55) | 0 | ||||
Bank | Recurring basis | Trading assets | Equity securities | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 197 | 132 | ||||
Transfers in, assets | 16 | 39 | ||||
Transfers out, assets | (21) | (37) | ||||
Purchases, assets | 38 | 57 | ||||
Sales, assets | (18) | (38) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (67) | 4 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (3) | (2) | ||||
Balance at end of period, assets | 142 | 142 | 155 | |||
Bank | Recurring basis | Trading assets | Equity securities | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 85 | (1) | ||||
Bank | Recurring basis | Trading assets | Derivative instruments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 3,534 | 3,298 | ||||
Transfers in, assets | 719 | 140 | ||||
Transfers out, assets | (629) | (417) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 1,290 | 556 | ||||
Settlements, assets | (1,606) | (818) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 111 | (88) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 834 | 405 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | (1) | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (151) | (42) | ||||
Balance at end of period, assets | 4,101 | 4,101 | 3,034 | |||
Bank | Recurring basis | Trading assets | Derivative instruments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 999 | 507 | ||||
Bank | Recurring basis | Trading assets | Derivative instruments | Interest rate derivatives | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 554 | 507 | ||||
Transfers in, assets | 99 | 23 | ||||
Transfers out, assets | (69) | (9) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 81 | 52 | ||||
Settlements, assets | (49) | (42) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (22) | 2 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 71 | (6) | ||||
Gain (loss) on transfers in/out included in other revenues, assets | (1) | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (25) | (15) | ||||
Balance at end of period, assets | 639 | 639 | 512 | |||
Bank | Recurring basis | Trading assets | Derivative instruments | Interest rate derivatives | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 108 | (31) | ||||
Bank | Recurring basis | Trading assets | Derivative instruments | Equity/Index-related products | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,040 | 1,054 | ||||
Transfers in, assets | 220 | 48 | ||||
Transfers out, assets | (240) | (333) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 345 | 199 | ||||
Settlements, assets | (597) | (259) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 35 | (84) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 345 | 133 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (81) | (6) | ||||
Balance at end of period, assets | 1,067 | 1,067 | 752 | |||
Bank | Recurring basis | Trading assets | Derivative instruments | Equity/Index-related products | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 361 | 289 | ||||
Bank | Recurring basis | Trading assets | Derivative instruments | Credit derivatives | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 879 | 673 | ||||
Transfers in, assets | 379 | 58 | ||||
Transfers out, assets | (305) | (65) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 700 | 150 | ||||
Settlements, assets | (771) | (360) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 100 | (7) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 211 | 211 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (21) | (7) | ||||
Balance at end of period, assets | 1,172 | 1,172 | 653 | |||
Bank | Recurring basis | Trading assets | Derivative instruments | Credit derivatives | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 325 | 140 | ||||
Bank | Recurring basis | Trading assets | Derivative instruments | Foreign exchange derivatives | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 152 | 258 | ||||
Transfers in, assets | 21 | 11 | ||||
Transfers out, assets | (15) | (10) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 9 | 8 | ||||
Settlements, assets | (24) | (9) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (2) | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 0 | (30) | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (3) | (3) | ||||
Balance at end of period, assets | 138 | 138 | 225 | |||
Bank | Recurring basis | Trading assets | Derivative instruments | Foreign exchange derivatives | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (5) | (17) | ||||
Bank | Recurring basis | Trading assets | Derivative instruments | Other derivatives | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 909 | 806 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 155 | 147 | ||||
Settlements, assets | (165) | (148) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 1 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 207 | 97 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (21) | (11) | ||||
Balance at end of period, assets | 1,085 | 1,085 | 892 | |||
Bank | Recurring basis | Trading assets | Derivative instruments | Other derivatives | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 210 | 126 | ||||
Bank | Recurring basis | Trading assets | Other | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 2,231 | 3,308 | ||||
Transfers in, assets | 100 | 42 | ||||
Transfers out, assets | (144) | (369) | ||||
Purchases, assets | 1,707 | 7,177 | ||||
Sales, assets | (2,639) | (7,620) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | (19) | (20) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (1) | (3) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 151 | 262 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (30) | (25) | ||||
Balance at end of period, assets | 1,356 | 1,356 | 2,752 | |||
Bank | Recurring basis | Trading assets | Other | Other derivatives | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 11 | 41 | ||||
Bank | Recurring basis | Other investments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 2,523 | 1,309 | ||||
Transfers in, assets | 2 | 48 | ||||
Transfers out, assets | 0 | (5) | ||||
Purchases, assets | 371 | 33 | ||||
Sales, assets | (107) | (110) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 95 | 100 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | (19) | 6 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (26) | (12) | ||||
Balance at end of period, assets | 2,839 | 2,839 | 1,369 | |||
Bank | Recurring basis | Other investments | Equity/Index-related products | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,463 | |||||
Transfers in, assets | 1 | |||||
Transfers out, assets | 0 | |||||
Purchases, assets | 354 | |||||
Sales, assets | (19) | |||||
Issuances, assets | 0 | |||||
Settlements, assets | 0 | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | |||||
Gain (loss) on all other activity included in trading revenues, assets | (11) | |||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | |||||
Gain (loss) on all other activity included in other revenues, assets | (18) | |||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | |||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | |||||
Foreign currency translation impact, assets | (5) | |||||
Balance at end of period, assets | 1,765 | 1,765 | ||||
Bank | Recurring basis | Other investments | Equity/Index-related products | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (35) | |||||
Bank | Recurring basis | Other investments | Life finance instruments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,052 | 1,067 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 17 | 20 | ||||
Sales, assets | (88) | (88) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 106 | 96 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (21) | (10) | ||||
Balance at end of period, assets | 1,066 | 1,066 | 1,085 | |||
Bank | Recurring basis | Other investments | Life finance instruments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 74 | 98 | ||||
Bank | Recurring basis | Other investments | Other | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 38 | 207 | ||||
Bank | Recurring basis | Loans | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 3,835 | 4,324 | ||||
Transfers in, assets | 641 | 296 | ||||
Transfers out, assets | (375) | (320) | ||||
Purchases, assets | 90 | 19 | ||||
Sales, assets | (479) | (190) | ||||
Issuances, assets | 742 | 769 | ||||
Settlements, assets | (569) | (726) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 38 | 8 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (336) | 20 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (74) | (37) | ||||
Balance at end of period, assets | 3,513 | 3,513 | 4,163 | |||
Bank | Recurring basis | Loans | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (296) | |||||
Bank | Recurring basis | Loans | Equity securities | Life finance instruments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 30 | |||||
Bank | Recurring basis | Commercial and industrial loans | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,402 | 1,949 | ||||
Transfers in, assets | 390 | 81 | ||||
Transfers out, assets | (137) | (184) | ||||
Purchases, assets | 45 | 19 | ||||
Sales, assets | (282) | (118) | ||||
Issuances, assets | 447 | 76 | ||||
Settlements, assets | (173) | (198) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 3 | 5 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (194) | 1 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (28) | (13) | ||||
Balance at end of period, assets | 1,473 | 1,473 | 1,618 | |||
Bank | Recurring basis | Commercial and industrial loans | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (205) | 21 | ||||
Bank | Recurring basis | Financial institutions | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,201 | 1,391 | ||||
Transfers in, assets | 44 | 215 | ||||
Transfers out, assets | (94) | 0 | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | (32) | (71) | ||||
Issuances, assets | 275 | 185 | ||||
Settlements, assets | (211) | (503) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 13 | (1) | ||||
Gain (loss) on all other activity included in trading revenues, assets | (70) | 15 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (26) | (4) | ||||
Balance at end of period, assets | 1,100 | 1,100 | 1,227 | |||
Bank | Recurring basis | Financial institutions | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (77) | 14 | ||||
Bank | Recurring basis | Governments and public institutions | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 830 | |||||
Transfers in, assets | 15 | |||||
Transfers out, assets | (144) | |||||
Purchases, assets | 0 | |||||
Sales, assets | (163) | |||||
Issuances, assets | 3 | |||||
Settlements, assets | (56) | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | 22 | |||||
Gain (loss) on all other activity included in trading revenues, assets | (47) | |||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | |||||
Gain (loss) on all other activity included in other revenues, assets | 0 | |||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | |||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | |||||
Foreign currency translation impact, assets | (13) | |||||
Balance at end of period, assets | 447 | 447 | ||||
Bank | Recurring basis | Governments and public institutions | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (8) | |||||
Bank | Recurring basis | Real estate | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 515 | |||||
Transfers in, assets | 0 | |||||
Transfers out, assets | (78) | |||||
Purchases, assets | 0 | |||||
Sales, assets | 0 | |||||
Issuances, assets | 260 | |||||
Settlements, assets | (11) | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | |||||
Gain (loss) on all other activity included in trading revenues, assets | 10 | |||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | |||||
Gain (loss) on all other activity included in other revenues, assets | 0 | |||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | |||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | |||||
Foreign currency translation impact, assets | (10) | |||||
Balance at end of period, assets | 687 | |||||
Bank | Recurring basis | Real estate | Equity securities | Life finance instruments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 10 | |||||
Bank | Recurring basis | Other intangible assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 244 | 163 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 0 | 9 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | (31) | (7) | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (4) | (3) | ||||
Balance at end of period, assets | 209 | 209 | 162 | |||
Bank | Recurring basis | Other intangible assets | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (7) | |||||
Bank | Recurring basis | Other intangible assets | Life finance instruments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (31) | |||||
Bank | Recurring basis | Other assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,846 | 1,543 | ||||
Transfers in, assets | 1,432 | 102 | ||||
Transfers out, assets | (383) | (178) | ||||
Purchases, assets | 2,400 | 938 | ||||
Sales, assets | (2,260) | (808) | ||||
Issuances, assets | 282 | 290 | ||||
Settlements, assets | (543) | (178) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 16 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (60) | 24 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (149) | (15) | ||||
Balance at end of period, assets | 2,581 | 2,581 | 1,718 | |||
Bank | Recurring basis | Other assets | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (6) | 0 | ||||
Bank | Recurring basis | Other assets - of which loans held-for-sale | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,619 | 1,235 | ||||
Transfers in, assets | 1,409 | 96 | ||||
Transfers out, assets | (339) | (125) | ||||
Purchases, assets | 2,373 | 903 | ||||
Sales, assets | (2,259) | (805) | ||||
Issuances, assets | 282 | 290 | ||||
Settlements, assets | (543) | (178) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (8) | 1 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (87) | 45 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (143) | (13) | ||||
Balance at end of period, assets | 2,304 | 2,304 | 1,449 | |||
Bank | Recurring basis | Other assets - of which loans held-for-sale | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (87) | 10 | ||||
Bank | Recurring basis | Assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 16,334 | 16,349 | ||||
Transfers in, assets | 4,564 | 1,151 | ||||
Transfers out, assets | (2,260) | (2,200) | ||||
Purchases, assets | 7,306 | 9,830 | ||||
Sales, assets | (7,504) | (10,569) | ||||
Issuances, assets | 2,314 | 1,615 | ||||
Settlements, assets | (2,737) | (1,742) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 223 | (67) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 495 | 865 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | (1) | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | (50) | (1) | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | ||||
Foreign currency translation impact, assets | (575) | (163) | ||||
Balance at end of period, assets | SFr 18,109 | 18,109 | 15,068 | |||
Bank | Recurring basis | Assets | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | SFr 781 | SFr 940 | ||||
Bank | Nonrecurring basis | Accounting Standards Update 2019-05 [Member] | Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Retained Earnings (Accumulated Deficit) | SFr 119 |
FI - Roll-forward of liabilitie
FI - Roll-forward of liabilities measured at fair value on recurring basis (Details 5) - Recurring basis - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2020 | Jun. 30, 2019 | |
Due to banks and customer deposits | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | SFr 474 | SFr 453 | |
Transfers in, liabilities | 0 | 0 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 0 | 0 | |
Settlements, liabilities | (27) | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 35 | 31 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (22) | 32 | |
Foreign currency translation impact, liabilities | (27) | (21) | |
Balance at end of period, liabilities | SFr 433 | 433 | 495 |
Due to banks and customer deposits | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 9 | 31 | |
Obligation to return securities received as collateral | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1 | 30 | |
Transfers in, liabilities | 0 | 0 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 173 | 0 | |
Sales, liabilities | (1) | (26) | |
Issuances, liabilities | 0 | 0 | |
Settlements, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (3) | 0 | |
Balance at end of period, liabilities | 170 | 170 | 4 |
Obligation to return securities received as collateral | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | 0 | |
Trading liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 3,854 | 3,589 | |
Transfers in, liabilities | 513 | 195 | |
Transfers out, liabilities | (904) | (405) | |
Purchases, liabilities | 210 | 388 | |
Sales, liabilities | (195) | (402) | |
Issuances, liabilities | 1,602 | 1,091 | |
Settlements, liabilities | (1,276) | (1,483) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 184 | 81 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (151) | 400 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | (5) | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (105) | (35) | |
Balance at end of period, liabilities | 3,727 | 3,727 | 3,419 |
Trading liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 577 | 594 | |
Trading liabilities | Debt securities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 25 | ||
Transfers in, liabilities | 9 | ||
Transfers out, liabilities | (8) | ||
Purchases, liabilities | 12 | ||
Sales, liabilities | (32) | ||
Issuances, liabilities | 0 | ||
Settlements, liabilities | 0 | ||
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | ||
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | ||
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | ||
Gain (loss) on all other activity included in other revenues, liabilities | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | ||
Foreign currency translation impact, liabilities | 0 | ||
Balance at end of period, liabilities | 6 | ||
Trading liabilities | Debt securities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | ||
Trading liabilities | Equity securities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 53 | 37 | |
Transfers in, liabilities | 16 | 9 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 207 | 376 | |
Sales, liabilities | (189) | (368) | |
Issuances, liabilities | 0 | 0 | |
Settlements, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (15) | (1) | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (2) | 0 | |
Balance at end of period, liabilities | 70 | 70 | 53 |
Trading liabilities | Equity securities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | 0 | |
Trading liabilities | Derivative instruments | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 3,801 | 3,527 | |
Transfers in, liabilities | 497 | 177 | |
Transfers out, liabilities | (904) | (397) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | (3) | (2) | |
Issuances, liabilities | 1,602 | 1,091 | |
Settlements, liabilities | (1,276) | (1,483) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 184 | 81 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (136) | 401 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | (5) | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (103) | (35) | |
Balance at end of period, liabilities | 3,657 | 3,657 | 3,360 |
Trading liabilities | Derivative instruments | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 575 | 594 | |
Trading liabilities | Derivative instruments | Interest rate derivatives | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 167 | 189 | |
Transfers in, liabilities | 37 | 5 | |
Transfers out, liabilities | (37) | (2) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 16 | 21 | |
Settlements, liabilities | (25) | (17) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (1) | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 64 | 23 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | (5) | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (5) | (3) | |
Balance at end of period, liabilities | 211 | 211 | 216 |
Trading liabilities | Derivative instruments | Interest rate derivatives | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 84 | 28 | |
Trading liabilities | Derivative instruments | Foreign exchange derivatives | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 98 | 160 | |
Transfers in, liabilities | 2 | 14 | |
Transfers out, liabilities | (1) | (10) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 10 | 2 | |
Settlements, liabilities | (56) | (24) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | (1) | |
Gain (loss) on all other activity included in trading revenues, liabilities | 42 | (9) | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (3) | 1 | |
Balance at end of period, liabilities | 92 | 92 | 133 |
Trading liabilities | Derivative instruments | Foreign exchange derivatives | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 47 | (12) | |
Trading liabilities | Derivative instruments | Equity/Index-related products | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,921 | 1,500 | |
Transfers in, liabilities | 126 | 77 | |
Transfers out, liabilities | (493) | (303) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 585 | 380 | |
Settlements, liabilities | (486) | (504) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 69 | 78 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (262) | 239 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (59) | (18) | |
Balance at end of period, liabilities | 1,401 | 1,401 | 1,449 |
Trading liabilities | Derivative instruments | Equity/Index-related products | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 274 | 539 | |
Trading liabilities | Derivative instruments | Credit derivatives | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,211 | 1,140 | |
Transfers in, liabilities | 333 | 81 | |
Transfers out, liabilities | (373) | (81) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 896 | 551 | |
Settlements, liabilities | (574) | (782) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 117 | 4 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (21) | 195 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (31) | (11) | |
Balance at end of period, liabilities | 1,558 | 1,558 | 1,097 |
Trading liabilities | Derivative instruments | Credit derivatives | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 135 | 54 | |
Short-term borrowings | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 997 | 784 | |
Transfers in, liabilities | 52 | 122 | |
Transfers out, liabilities | (200) | (178) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 470 | 789 | |
Settlements, liabilities | (706) | (686) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (2) | 6 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (118) | 175 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (13) | (15) | |
Balance at end of period, liabilities | 480 | 480 | 997 |
Short-term borrowings | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (40) | 44 | |
Long-term debt | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 12,610 | 12,665 | |
Transfers in, liabilities | 1,843 | 2,104 | |
Transfers out, liabilities | (5,514) | (2,607) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 4,294 | 2,730 | |
Settlements, liabilities | (3,614) | (2,387) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 461 | 101 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (1,241) | 1,082 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 87 | 4 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (166) | 164 | |
Foreign currency translation impact, liabilities | (269) | (167) | |
Balance at end of period, liabilities | 8,491 | 8,491 | 13,689 |
Long-term debt | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (110) | 1,085 | |
Long-term debt | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 891 | 528 | |
Transfers in, liabilities | 186 | 315 | |
Transfers out, liabilities | (423) | (228) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 632 | 544 | |
Settlements, liabilities | (435) | (345) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 28 | 11 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (111) | 58 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 1 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 5 | 9 | |
Foreign currency translation impact, liabilities | (18) | (12) | |
Balance at end of period, liabilities | 756 | 756 | 880 |
Long-term debt | Long-term debt - of which structured notes over one year and up to two years | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (30) | 37 | |
Long-term debt | Long-term debt - of which structured notes over two years | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 11,458 | 11,800 | |
Transfers in, liabilities | 707 | 1,774 | |
Transfers out, liabilities | (5,077) | (2,123) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 3,631 | 1,974 | |
Settlements, liabilities | (3,140) | (2,007) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 433 | 77 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (1,138) | 1,006 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 87 | 4 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (170) | 156 | |
Foreign currency translation impact, liabilities | (245) | (150) | |
Balance at end of period, liabilities | 6,546 | 6,546 | 12,511 |
Long-term debt | Long-term debt - of which structured notes over two years | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (89) | 1,050 | |
Long-term debt | Long-term debt - of which high-trigger instruments | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 5 | 6 | |
Transfers in, liabilities | 0 | 0 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 0 | (2) | |
Settlements, liabilities | 5 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | 0 | 0 | |
Balance at end of period, liabilities | 0 | 0 | 4 |
Long-term debt | Long-term debt - of which high-trigger instruments | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | 0 | |
Other liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,385 | 1,341 | |
Transfers in, liabilities | 168 | 37 | |
Transfers out, liabilities | (112) | (77) | |
Purchases, liabilities | 195 | 35 | |
Sales, liabilities | (227) | (57) | |
Issuances, liabilities | 64 | 75 | |
Settlements, liabilities | (289) | (285) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (27) | (6) | |
Gain (loss) on all other activity included in trading revenues, liabilities | (15) | 32 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 86 | 163 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (27) | (11) | |
Balance at end of period, liabilities | 1,201 | 1,201 | 1,247 |
Other liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 43 | 2 | |
Liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 19,321 | 18,862 | |
Transfers in, liabilities | 1,231 | 2,576 | 2,458 |
Transfers out, liabilities | 5,698 | (6,730) | (3,267) |
Purchases, liabilities | 578 | 423 | |
Sales, liabilities | (423) | (485) | |
Issuances, liabilities | 6,430 | 4,685 | |
Settlements, liabilities | (5,912) | (4,841) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 616 | 182 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (1,490) | 1,720 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | (5) | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 86 | 163 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 87 | 4 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (188) | 196 | |
Foreign currency translation impact, liabilities | (444) | (249) | |
Balance at end of period, liabilities | 14,502 | 14,502 | 19,851 |
Liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 479 | 1,756 | |
Bank | Due to banks and customer deposits | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 474 | 453 | |
Transfers in, liabilities | 0 | 0 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 0 | 0 | |
Settlements, liabilities | (27) | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 35 | 31 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (22) | 32 | |
Foreign currency translation impact, liabilities | (27) | (21) | |
Balance at end of period, liabilities | 433 | 433 | 495 |
Bank | Due to banks and customer deposits | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 9 | 31 | |
Bank | Obligation to return securities received as collateral | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1 | 30 | |
Transfers in, liabilities | 0 | 0 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 173 | 0 | |
Sales, liabilities | (1) | (26) | |
Issuances, liabilities | 0 | 0 | |
Settlements, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (3) | 0 | |
Balance at end of period, liabilities | 170 | 170 | 4 |
Bank | Obligation to return securities received as collateral | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | 0 | |
Bank | Trading liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 3,854 | 3,589 | |
Transfers in, liabilities | 513 | 195 | |
Transfers out, liabilities | (904) | (405) | |
Purchases, liabilities | 210 | 388 | |
Sales, liabilities | (195) | (402) | |
Issuances, liabilities | 1,602 | 1,091 | |
Settlements, liabilities | (1,276) | (1,483) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 184 | 81 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (151) | 400 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | (5) | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (105) | (35) | |
Balance at end of period, liabilities | 3,727 | 3,727 | 3,419 |
Bank | Trading liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 577 | 594 | |
Bank | Trading liabilities | Debt securities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 25 | ||
Transfers in, liabilities | 9 | ||
Transfers out, liabilities | (8) | ||
Purchases, liabilities | 12 | ||
Sales, liabilities | (32) | ||
Issuances, liabilities | 0 | ||
Settlements, liabilities | 0 | ||
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | ||
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | ||
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | ||
Gain (loss) on all other activity included in other revenues, liabilities | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | ||
Foreign currency translation impact, liabilities | 0 | ||
Balance at end of period, liabilities | 6 | ||
Bank | Trading liabilities | Debt securities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | ||
Bank | Trading liabilities | Equity securities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 53 | 37 | |
Transfers in, liabilities | 16 | 9 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 207 | 376 | |
Sales, liabilities | (189) | (368) | |
Issuances, liabilities | 0 | 0 | |
Settlements, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (15) | (1) | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (2) | 0 | |
Balance at end of period, liabilities | 70 | 70 | 53 |
Bank | Trading liabilities | Equity securities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | 0 | |
Bank | Trading liabilities | Derivative instruments | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 3,801 | 3,527 | |
Transfers in, liabilities | 497 | 177 | |
Transfers out, liabilities | (904) | (397) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | (3) | (2) | |
Issuances, liabilities | 1,602 | 1,091 | |
Settlements, liabilities | (1,276) | (1,483) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 184 | 81 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (136) | 401 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | (5) | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (103) | (35) | |
Balance at end of period, liabilities | 3,657 | 3,657 | 3,360 |
Bank | Trading liabilities | Derivative instruments | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 575 | 594 | |
Bank | Trading liabilities | Derivative instruments | Interest rate derivatives | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 167 | 189 | |
Transfers in, liabilities | 37 | 5 | |
Transfers out, liabilities | (37) | (2) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 16 | 21 | |
Settlements, liabilities | (25) | (17) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (1) | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 64 | 23 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | (5) | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (5) | (3) | |
Balance at end of period, liabilities | 211 | 211 | 216 |
Bank | Trading liabilities | Derivative instruments | Interest rate derivatives | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 84 | 28 | |
Bank | Trading liabilities | Derivative instruments | Foreign exchange derivatives | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 98 | 160 | |
Transfers in, liabilities | 2 | 14 | |
Transfers out, liabilities | (1) | (10) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 10 | 2 | |
Settlements, liabilities | (56) | (24) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | (1) | |
Gain (loss) on all other activity included in trading revenues, liabilities | 42 | (9) | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (3) | 1 | |
Balance at end of period, liabilities | 92 | 92 | 133 |
Bank | Trading liabilities | Derivative instruments | Foreign exchange derivatives | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 47 | (12) | |
Bank | Trading liabilities | Derivative instruments | Equity/Index-related products | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,921 | 1,500 | |
Transfers in, liabilities | 126 | 77 | |
Transfers out, liabilities | (493) | (303) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 585 | 380 | |
Settlements, liabilities | (486) | (504) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 69 | 78 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (262) | 239 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (59) | (18) | |
Balance at end of period, liabilities | 1,401 | 1,401 | 1,449 |
Bank | Trading liabilities | Derivative instruments | Equity/Index-related products | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 274 | 539 | |
Bank | Trading liabilities | Derivative instruments | Credit derivatives | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,211 | 1,140 | |
Transfers in, liabilities | 333 | 81 | |
Transfers out, liabilities | (373) | (81) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 896 | 551 | |
Settlements, liabilities | (574) | (782) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 117 | 4 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (21) | 195 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (31) | (11) | |
Balance at end of period, liabilities | 1,558 | 1,558 | 1,097 |
Bank | Trading liabilities | Derivative instruments | Credit derivatives | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 135 | 54 | |
Bank | Short-term borrowings | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 997 | 784 | |
Transfers in, liabilities | 52 | 122 | |
Transfers out, liabilities | (200) | (178) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 470 | 789 | |
Settlements, liabilities | (706) | (686) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (2) | 6 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (118) | 175 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (13) | (15) | |
Balance at end of period, liabilities | 480 | 480 | 997 |
Bank | Short-term borrowings | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (40) | 44 | |
Bank | Long-term debt | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 12,749 | 12,671 | |
Transfers in, liabilities | 1,720 | 2,104 | |
Transfers out, liabilities | (5,514) | (2,483) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 4,294 | 2,754 | |
Settlements, liabilities | (3,614) | (2,387) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 461 | 101 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (1,241) | 1,067 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 87 | 4 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (165) | 164 | |
Foreign currency translation impact, liabilities | (272) | (169) | |
Balance at end of period, liabilities | 8,505 | 8,505 | 13,826 |
Bank | Long-term debt | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (107) | 1,085 | |
Bank | Long-term debt | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 891 | 528 | |
Transfers in, liabilities | 186 | 315 | |
Transfers out, liabilities | (423) | (228) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 632 | 544 | |
Settlements, liabilities | (435) | (345) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 28 | 11 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (111) | 58 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 1 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 5 | 9 | |
Foreign currency translation impact, liabilities | (18) | (12) | |
Balance at end of period, liabilities | 756 | 756 | 880 |
Bank | Long-term debt | Long-term debt - of which structured notes over one year and up to two years | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (30) | 37 | |
Bank | Long-term debt | Long-term debt - of which structured notes over two years | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 11,458 | 11,800 | |
Transfers in, liabilities | 707 | 1,774 | |
Transfers out, liabilities | (5,077) | (2,123) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 3,631 | 1,974 | |
Settlements, liabilities | (3,140) | (2,007) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 433 | 77 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (1,138) | 1,006 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 87 | 4 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (170) | 156 | |
Foreign currency translation impact, liabilities | (245) | (150) | |
Balance at end of period, liabilities | 6,546 | 6,546 | 12,511 |
Bank | Long-term debt | Long-term debt - of which structured notes over two years | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (89) | 1,050 | |
Bank | Long-term debt | Long-term debt - of which high-trigger instruments | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 5 | 6 | |
Transfers in, liabilities | 0 | 0 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 0 | (1) | |
Settlements, liabilities | 5 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | 0 | 0 | |
Balance at end of period, liabilities | 0 | 0 | 5 |
Bank | Long-term debt | Long-term debt - of which high-trigger instruments | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | 0 | |
Bank | Long-term debt | Long-term debt - of which nonrecourse liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 34 | ||
Transfers in, liabilities | 617 | ||
Transfers out, liabilities | (11) | ||
Purchases, liabilities | 0 | ||
Sales, liabilities | 0 | ||
Issuances, liabilities | 31 | ||
Settlements, liabilities | (21) | ||
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | ||
Gain (loss) on all other activity included in trading revenues, liabilities | 5 | ||
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | ||
Gain (loss) on all other activity included in other revenues, liabilities | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | ||
Foreign currency translation impact, liabilities | 0 | ||
Balance at end of period, liabilities | 655 | 655 | |
Bank | Long-term debt | Long-term debt - of which nonrecourse liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 5 | ||
Bank | Long-term debt | Long-term debt - of which other subordinated bonds | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 140 | ||
Transfers in, liabilities | 210 | ||
Transfers out, liabilities | 0 | ||
Purchases, liabilities | 0 | ||
Sales, liabilities | 0 | ||
Issuances, liabilities | 0 | ||
Settlements, liabilities | 0 | ||
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | ||
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | ||
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | ||
Gain (loss) on all other activity included in other revenues, liabilities | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (1) | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | ||
Foreign currency translation impact, liabilities | (4) | ||
Balance at end of period, liabilities | 345 | 345 | |
Bank | Long-term debt | Long-term debt - of which other subordinated bonds | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 3 | ||
Bank | Other liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,367 | 1,327 | |
Transfers in, liabilities | 168 | 37 | |
Transfers out, liabilities | (112) | (77) | |
Purchases, liabilities | 195 | 35 | |
Sales, liabilities | (227) | (57) | |
Issuances, liabilities | 64 | 75 | |
Settlements, liabilities | (283) | (280) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (27) | (6) | |
Gain (loss) on all other activity included in trading revenues, liabilities | (17) | 30 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 84 | 161 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | (27) | (11) | |
Balance at end of period, liabilities | 1,185 | 1,185 | 1,234 |
Bank | Other liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 44 | 1 | |
Bank | Liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 19,442 | 18,854 | |
Transfers in, liabilities | 2,453 | 2,458 | |
Transfers out, liabilities | (6,730) | (3,143) | |
Purchases, liabilities | 578 | 423 | |
Sales, liabilities | (423) | (485) | |
Issuances, liabilities | 6,430 | 4,709 | |
Settlements, liabilities | (5,906) | (4,836) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 616 | 182 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (1,492) | 1,703 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | (5) | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 84 | 161 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 87 | 4 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (187) | 196 | |
Foreign currency translation impact, liabilities | (447) | (251) | |
Balance at end of period, liabilities | SFr 14,500 | 14,500 | 19,975 |
Bank | Liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | SFr 483 | SFr 1,755 |
FI - Roll-forward of liabilit_2
FI - Roll-forward of liabilities measured at fair value on recurring basis (Details 6) - Recurring basis - Due to banks and customer deposits - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Liabilities measured at fair value on a recurring basis for level 3 | ||||
Fair value, liabilities | SFr 433 | SFr 474 | SFr 495 | SFr 453 |
Bank | ||||
Liabilities measured at fair value on a recurring basis for level 3 | ||||
Fair value, liabilities | SFr 433 | SFr 474 | SFr 495 | SFr 453 |
FI - Roll-forward of net assets
FI - Roll-forward of net assets measured at fair value on recurring basis (Details 7) - Recurring basis - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, net assets/liabilities | SFr (2,987) | SFr (2,513) |
Transfers in, net assets/liabilities | 1,988 | (1,307) |
Transfers out, net assets/liabilities | 4,470 | 1,067 |
Purchases, net assets/liabilities | 6,728 | 9,407 |
Sales, net assets/liabilities | (7,081) | (10,084) |
Issuances, net assets/liabilities | (4,116) | (3,070) |
Settlements, net assets/liabilities | 3,175 | 3,099 |
Gain (loss) on transfers in/out included in trading revenues, net assets/liabilities | (393) | (249) |
Gain (loss) on all other activity included in trading revenues, net assets/liabilities | 1,985 | (855) |
Gain (loss) on transfers in/out included in other revenues, net assets/liabilities | 4 | 0 |
Gain (loss) on all other activity included in other revenues, net assets/liabilities | (136) | (164) |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, net assets/liabilities | (87) | (4) |
Gain (loss) on all other activity included in accumulated other comprehensive income, net assets/liabilities | 188 | (196) |
Foreign currency translation impact, net assets/liabilities | (131) | 86 |
Balance at beginning of period, net assets/liabilities | 3,607 | (4,783) |
Other Comprehensive Income (Loss) [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (49) | |
Trading Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 289 | (925) |
Other Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (36) | 109 |
Net Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 302 | (816) |
Bank | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, net assets/liabilities | (3,108) | (2,505) |
Transfers in, net assets/liabilities | 2,111 | (1,307) |
Transfers out, net assets/liabilities | 4,470 | 943 |
Purchases, net assets/liabilities | 6,728 | 9,407 |
Sales, net assets/liabilities | (7,081) | (10,084) |
Issuances, net assets/liabilities | (4,116) | (3,094) |
Settlements, net assets/liabilities | 3,169 | 3,094 |
Gain (loss) on transfers in/out included in trading revenues, net assets/liabilities | (393) | (249) |
Gain (loss) on all other activity included in trading revenues, net assets/liabilities | 1,987 | (838) |
Gain (loss) on transfers in/out included in other revenues, net assets/liabilities | 4 | 0 |
Gain (loss) on all other activity included in other revenues, net assets/liabilities | (134) | (162) |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, net assets/liabilities | (87) | (4) |
Gain (loss) on all other activity included in accumulated other comprehensive income, net assets/liabilities | 187 | (196) |
Foreign currency translation impact, net assets/liabilities | (128) | 88 |
Balance at beginning of period, net assets/liabilities | 3,609 | (4,907) |
Bank | Other Comprehensive Income (Loss) [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (50) | |
Bank | Trading Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 284 | (924) |
Bank | Other Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (36) | 109 |
Bank | Net Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | SFr 298 | SFr (815) |
FI - Difference between fair va
FI - Difference between fair value and unpaid principle balances (Details 10) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Financial instruments | |||
Cash and Due from Banks | SFr 368 | SFr 367 | SFr 356 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 88,511 | 85,556 |
Loans | 13,231 | 14,273 | 12,662 |
Other assets | 9,321 | 11,955 | 10,402 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (17,379) | (24,271) | (10,715) |
Short-term borrowings | (12,079) | (10,084) | (11,333) |
Long-term debt | (68,798) | (60,360) | (70,331) |
Other liabilities | (7,384) | SFr (7,547) | (7,891) |
Aggregate fair value | |||
Loans | |||
Non-interest-earning loans | 904 | 543 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Loans | 13,231 | 12,662 | |
Other assets | 8,398 | 9,710 | |
Due to banks and customer deposits | (627) | (582) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (17,379) | (10,715) | |
Short-term borrowings | (12,079) | (11,333) | |
Long-term debt | (68,798) | (70,331) | |
Other liabilities | (659) | (709) | |
Aggregate unpaid principal | |||
Loans | |||
Non-interest-earning loans | 3,759 | 3,235 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,323 | 85,463 | |
Loans | 14,326 | 13,104 | |
Other assets | 10,999 | 12,006 | |
Due to banks and customer deposits | (542) | (508) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (17,380) | (10,719) | |
Short-term borrowings | (12,523) | (11,187) | |
Long-term debt | (74,822) | (72,126) | |
Other liabilities | (1,667) | (1,681) | |
Difference | |||
Loans | |||
Non-interest-earning loans, Difference | (2,855) | (2,692) | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 125 | 93 | |
Loans | (1,095) | (442) | |
Other assets | (2,601) | (2,296) | |
Due to banks and customer deposits | (85) | (74) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 1 | 4 | |
Short-term borrowings | 444 | (146) | |
Long-term debt | 6,024 | 1,795 | |
Other liabilities | 1,008 | 972 | |
Bank | |||
Financial instruments | |||
Cash and Due from Banks | 368 | 356 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Loans | 13,231 | 12,661 | |
Other assets | 9,321 | 10,402 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (17,473) | (10,823) | |
Short-term borrowings | (12,079) | (11,333) | |
Long-term debt | (67,959) | (69,406) | |
Other liabilities | (7,365) | (7,869) | |
Bank | Aggregate fair value | |||
Loans | |||
Non-interest-earning loans | 904 | 543 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Loans | 13,231 | 12,661 | |
Other assets | 8,398 | 9,710 | |
Due to banks and customer deposits | (627) | (582) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (17,473) | (10,823) | |
Short-term borrowings | (12,079) | (11,333) | |
Long-term debt | (67,959) | (69,406) | |
Other liabilities | (659) | (709) | |
Bank | Aggregate unpaid principal | |||
Loans | |||
Non-interest-earning loans | 3,759 | 3,235 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,323 | 85,463 | |
Loans | 14,326 | 13,103 | |
Other assets | 10,999 | 12,006 | |
Due to banks and customer deposits | (542) | (508) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (17,474) | (10,827) | |
Short-term borrowings | (12,523) | (11,187) | |
Long-term debt | (73,956) | (71,177) | |
Other liabilities | (1,667) | (1,681) | |
Bank | Difference | |||
Loans | |||
Non-interest-earning loans, Difference | (2,855) | (2,692) | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 125 | 93 | |
Loans | (1,095) | (442) | |
Other assets | (2,601) | (2,296) | |
Due to banks and customer deposits | (85) | (74) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 1 | 4 | |
Short-term borrowings | 444 | (146) | |
Long-term debt | 5,997 | 1,771 | |
Other liabilities | SFr 1,008 | SFr 972 |
FI - Gains_losses on financial
FI - Gains/losses on financial instruments (Details 11) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Interest-bearing deposits with banks | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | SFr 1 | SFr 15 |
Net gains/(losses) of which related to credit risk - on assets | (6) | 6 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 789 | 1,495 |
Other investments | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 205 | 171 |
Net gains/(losses) of which related to credit risk - on assets | 1 | 1 |
Loans | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (247) | 558 |
Net gains/(losses) of which related to credit risk - on assets | (575) | 74 |
Other assets | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 416 | 460 |
Net gains/(losses) of which related to credit risk - on assets | (19) | 111 |
Due to banks and customer deposits | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (39) | (36) |
Net gains/(losses) of which related to credit risk - on liabilities | 0 | 0 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (82) | (389) |
Short-term borrowings | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (16) | (559) |
Net gains/(losses) of which related to credit risk - on liabilities | 1 | 1 |
Long-term debt | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 1,270 | (6,058) |
Net gains/(losses) of which related to credit risk - on liabilities | 14 | 3 |
Other liabilities | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (102) | 76 |
Net gains/(losses) of which related to credit risk - on liabilities | (124) | 39 |
Bank | Interest-bearing deposits with banks | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 1 | 15 |
Net gains/(losses) of which related to credit risk - on assets | (6) | 6 |
Bank | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 789 | 1,495 |
Bank | Other investments | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 205 | 171 |
Net gains/(losses) of which related to credit risk - on assets | 1 | 1 |
Bank | Loans | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (247) | 558 |
Net gains/(losses) of which related to credit risk - on assets | (575) | 74 |
Bank | Other assets | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 416 | 460 |
Net gains/(losses) of which related to credit risk - on assets | (19) | 111 |
Bank | Due to banks and customer deposits | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (39) | (36) |
Bank | Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (82) | (389) |
Bank | Short-term borrowings | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (16) | (559) |
Net gains/(losses) of which related to credit risk - on liabilities | 1 | 1 |
Bank | Long-term debt | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 1,842 | (5,689) |
Net gains/(losses) of which related to credit risk - on liabilities | 14 | 3 |
Bank | Other liabilities | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (102) | 76 |
Net gains/(losses) of which related to credit risk - on liabilities | SFr (124) | SFr 39 |
FI - Quantitative information a
FI - Quantitative information about level 3 assets at fair value (Details 14) SFr in Millions, Pure in Millions | Jun. 30, 2020CHF (SFr) | Mar. 31, 2020CHF (SFr) | Dec. 31, 2019CHF (SFr) |
Assets | |||
Cash and Due from Banks | SFr 368 | SFr 367 | SFr 356 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 88,511 | 85,556 |
Securities received as collateral | 42,479 | 28,655 | 40,219 |
Trading assets | 156,730 | 150,798 | 153,797 |
Available-for-sale Securities, Debt Securities | 489 | 1,068 | 1,006 |
Other investments | 3,733 | 3,791 | 3,550 |
Loans | 13,231 | 14,273 | 12,662 |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 220 | 244 |
Other assets | 9,321 | SFr 11,955 | 10,402 |
Recurring basis | |||
Assets | |||
Cash and Due from Banks | 368 | 356 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Securities received as collateral | 42,479 | 40,219 | |
Trading assets | 156,730 | 153,797 | |
Available-for-sale Securities, Debt Securities | 489 | 1,006 | |
Other investments | 3,733 | 3,550 | |
Loans | 13,231 | 12,662 | |
Loans - of which commercial and industrial | 5,097 | 3,774 | |
Loans - of which financial institutions | 4,903 | 4,931 | |
Loans - of which government and public institutions | 2,427 | 3,031 | |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 244 | |
Other assets | 9,321 | 10,402 | |
Other assets - of which loans held-for-sale | 6,725 | 8,213 | |
Total assets at fair value | 305,008 | 307,792 | |
Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 2,301 | 2,081 | |
Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,067 | 1,052 | |
Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 70,962 | 66,994 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 27,118 | 26,963 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 11,114 | 12,049 | |
Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 29,479 | 23,516 | |
Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 55,232 | 64,542 | |
Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 25,834 | 17,731 | |
Recurring basis | Other | |||
Assets | |||
Trading assets | 4,702 | 4,530 | |
Recurring basis | Level 3 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 170 | 1 | |
Trading assets | 8,797 | 7,885 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 2,839 | 2,523 | |
Loans | 3,513 | 3,717 | |
Loans - of which commercial and industrial | 1,473 | 1,283 | |
Loans - of which financial institutions | 1,100 | 1,201 | |
Loans - of which government and public institutions | 447 | 831 | |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 244 | |
Other assets | 2,581 | 1,846 | |
Other assets - of which loans held-for-sale | 2,304 | 1,619 | |
Total assets at fair value | 18,109 | 16,216 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Loans - of which commercial and industrial | 912 | 996 | |
Loans - of which financial institutions | SFr 923 | SFr 984 | |
Loans - of which government and public institutions, measurement input | 277 | 468 | |
Other assets - of which loans held-for-sale | SFr 323 | SFr 501 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 99 | 96 | |
Loans - of which financial institutions, measurement input | 151 | 111 | |
Loans - of which government and public institutions, measurement input | 625 | 457 | |
Other assets - of which loans held-for-sale, measurement input | 117 | 117 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 2,243 | 1,484 | |
Loans - of which financial institutions, measurement input | 2,011 | 1,261 | |
Loans - of which government and public institutions, measurement input | 866 | 526 | |
Other assets - of which loans held-for-sale, measurement input | 651 | 381 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 944 | 654 | |
Loans - of which financial institutions, measurement input | 692 | 412 | |
Loans - of which government and public institutions, measurement input | 712 | 500 | |
Other assets - of which loans held-for-sale, measurement input | 385 | 243 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 25 | 25 | |
Loans - of which financial institutions, measurement input | 25 | 25 | |
Loans - of which government and public institutions, measurement input | 25 | 25 | |
Other assets - of which loans held-for-sale, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 40 | 25 | |
Loans - of which financial institutions, measurement input | 40 | 25 | |
Loans - of which government and public institutions, measurement input | 25 | 40 | |
Other assets - of which loans held-for-sale, measurement input | 40 | 1 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 29 | 25 | |
Loans - of which financial institutions, measurement input | 26 | 25 | |
Loans - of which government and public institutions, measurement input | 25 | 30 | |
Other assets - of which loans held-for-sale, measurement input | 24 | 1 | |
Recurring basis | Level 3 | Market comparable | |||
Assets | |||
Loans - of which commercial and industrial | SFr 437 | SFr 273 | |
Loans - of which financial institutions | SFr 167 | SFr 135 | |
Loans - of which government and public institutions, measurement input | 157 | 166 | |
Other assets - of which loans held-for-sale | SFr 1,945 | SFr 1,026 | |
Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 10 | 0 | |
Loans - of which financial institutions, measurement input | 12 | 16 | |
Loans - of which government and public institutions, measurement input | 62 | 62 | |
Other assets - of which loans held-for-sale, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 100 | 99 | |
Loans - of which financial institutions, measurement input | 100 | 100 | |
Loans - of which government and public institutions, measurement input | 62 | 62 | |
Other assets - of which loans held-for-sale, measurement input | 130 | 180 | |
Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 66 | 64 | |
Loans - of which financial institutions, measurement input | 41 | 36 | |
Loans - of which government and public institutions, measurement input | 62 | 62 | |
Other assets - of which loans held-for-sale, measurement input | 88 | 91 | |
Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | SFr 1,765 | SFr 1,463 | |
Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 1,066 | 1,052 | |
Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 3,198 | 1,923 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | SFr 163 | SFr 198 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 76 | 140 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 76 | 140 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 76 | 140 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | SFr 1,642 | SFr 1,128 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Option model | |||
Assets | |||
Trading assets | 622 | SFr 913 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 509 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (7) | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1,558 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 606 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (50) | (60) | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 93 | 100 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 42 | 63 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 2 | 2 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 40 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 40 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 40 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 213 | 275 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 27 | 27 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | |||
Assets | |||
Trading assets | SFr 54 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1,373 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 1 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | |||
Assets | |||
Trading assets | SFr 302 | SFr 503 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 207 | 129 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 104 | 97 | |
Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | SFr 1,102 | SFr 317 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 14 | 12 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 2 | 2 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 1 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 40 | 36 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 7 | 13 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 32 | 45 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 2 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 35 | 45 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 9 | 10 | |
Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | SFr 142 | SFr 197 | |
Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 35,399 | 36,760 | |
Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 327 | 383 | |
Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | SFr 4,101 | SFr 3,534 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | SFr 639 | SFr 554 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (1) | 0 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 73 | 69 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 1 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 27 | 28 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 9 | 10 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (3) | (4) | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 0 | 6 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | (2) | (1) | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (30) | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 25 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | (2) | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Vendor price | |||
Assets | |||
Other investments | SFr 857 | SFr 857 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | SFr 138 | SFr 152 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 5 | 5 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 70 | 70 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 29 | 30 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 23 | 23 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 27 | 28 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 25 | 25 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | SFr 1,067 | SFr 1,040 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Buyback probability [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 50 | 50 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Buyback probability [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Buyback probability [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 70 | 70 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (50) | (50) | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 93 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 55 | 64 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 2 | 2 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (85) | 0 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 213 | 275 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 16 | 30 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | SFr 1,172 | SFr 879 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 1,026 | SFr 691 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 2 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 3,286 | 1,033 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 994 | 150 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 60 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 103 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 89 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 1 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 5 | 20 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 3 | 4 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 3 | 8 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 30 | 27 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 20 | 16 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 156 | 115 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 147 | 102 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 10 | 29 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 95 | 85 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 58 | 69 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 0 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 20 | 7 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 5 | 4 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 40 | 40 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 19 | 26 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | |||
Assets | |||
Trading assets | SFr 95 | SFr 142 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 91 | 86 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 113 | 110 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 107 | 98 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | SFr 1,085 | SFr 909 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 2 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 15 | 15 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | 6 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 71 | 71 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 134 | 134 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | SFr 1,356 | SFr 2,231 | |
Recurring basis | Level 3 | Other | Option model | |||
Assets | |||
Trading assets | SFr 204 | SFr 233 | |
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 70 | 70 | |
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | 6 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 881 | SFr 856 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Other investments | 9 | 9 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Other investments | 9 | 9 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Other investments | SFr 9 | SFr 9 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 3 | 2 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 14 | 15 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 8 | 7 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Terminal Growth Rate [Member] | Minimum | |||
Assets | |||
Other investments | SFr 3 | SFr 3 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Terminal Growth Rate [Member] | Maximum | |||
Assets | |||
Other investments | 3 | 3 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Terminal Growth Rate [Member] | Weighted average | |||
Assets | |||
Other investments | 3 | 3 | |
Recurring basis | Level 3 | Other | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Other investments | 1 | 1 | |
Recurring basis | Level 3 | Other | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Other investments | 912 | 869 | |
Recurring basis | Level 3 | Other | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Other investments | 282 | 231 | |
Recurring basis | Level 3 | Other | Market comparable | |||
Assets | |||
Trading assets | SFr 253 | SFr 1,118 | |
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Other investments | SFr 100 | SFr 100 | |
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 106 | 112 | |
Other investments | SFr 100 | SFr 100 | |
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 24 | 27 | |
Other investments | SFr 100 | SFr 100 | |
Recurring basis | Level 3 | Other | Other equity investments | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Other investments | 702 | 398 | |
Recurring basis | Level 3 | Other | Other equity investments | Market comparable | |||
Assets | |||
Other investments | SFr 146 | SFr 147 | |
Recurring basis | Level 3 | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Loans - of which real estate, measurement input | 2 | 2 | |
Recurring basis | Level 3 | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Loans - of which real estate, measurement input | 16 | 16 | |
Recurring basis | Level 3 | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Loans - of which real estate, measurement input | 6 | 6 | |
Bank | |||
Assets | |||
Cash and Due from Banks | SFr 368 | SFr 356 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Securities received as collateral | 42,479 | 40,219 | |
Trading assets | 156,877 | 153,895 | |
Available-for-sale Securities, Debt Securities | 487 | 1,004 | |
Other investments | 3,731 | 3,548 | |
Loans | 13,231 | 12,661 | |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 244 | |
Other assets | 9,321 | 10,402 | |
Bank | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 368 | 356 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Securities received as collateral | 42,479 | 40,219 | |
Trading assets | 156,877 | 153,895 | |
Available-for-sale Securities, Debt Securities | 487 | 1,004 | |
Other investments | 3,731 | 3,548 | |
Loans | 13,231 | 12,661 | |
Loans - of which commercial and industrial | 5,097 | 3,774 | |
Loans - of which financial institutions | 4,903 | 4,931 | |
Loans - of which government and public institutions | 2,427 | 3,030 | |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 244 | |
Other assets | 9,321 | 10,402 | |
Other assets - of which loans held-for-sale | 6,725 | 8,213 | |
Total assets at fair value | 305,151 | 307,885 | |
Bank | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 2,301 | 2,081 | |
Bank | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,067 | 1,052 | |
Bank | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 71,072 | 67,030 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 27,118 | 26,963 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 11,224 | 12,085 | |
Bank | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 29,479 | 23,516 | |
Bank | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 55,269 | 64,604 | |
Bank | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 25,834 | 17,730 | |
Bank | Recurring basis | Other | |||
Assets | |||
Trading assets | 4,702 | 4,531 | |
Bank | Recurring basis | Level 3 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 170 | 1 | |
Trading assets | 8,797 | 7,885 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 2,839 | 2,523 | |
Loans | 3,513 | 3,716 | |
Loans - of which commercial and industrial | 1,473 | 1,283 | |
Loans - of which financial institutions | 1,100 | 1,201 | |
Loans - of which government and public institutions | 447 | 830 | |
Other intangible assets (mortgage servicing rights), at fair value | 209 | 244 | |
Other assets | 2,581 | 1,846 | |
Other assets - of which loans held-for-sale | 2,304 | 1,619 | |
Total assets at fair value | 18,109 | 16,215 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Loans - of which commercial and industrial | 912 | 996 | |
Loans - of which financial institutions | SFr 923 | SFr 984 | |
Loans - of which government and public institutions, measurement input | 277 | 468 | |
Other assets - of which loans held-for-sale | SFr 323 | SFr 501 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 99 | 96 | |
Loans - of which financial institutions, measurement input | 151 | 111 | |
Loans - of which government and public institutions, measurement input | 625 | 457 | |
Other assets - of which loans held-for-sale, measurement input | 117 | 117 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 2,243 | 1,484 | |
Loans - of which financial institutions, measurement input | 2,011 | 1,261 | |
Loans - of which government and public institutions, measurement input | 866 | 526 | |
Other assets - of which loans held-for-sale, measurement input | 651 | 381 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 944 | 654 | |
Loans - of which financial institutions, measurement input | 692 | 412 | |
Loans - of which government and public institutions, measurement input | 712 | 500 | |
Other assets - of which loans held-for-sale, measurement input | 385 | 243 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 25 | 25 | |
Loans - of which financial institutions, measurement input | 25 | 25 | |
Loans - of which government and public institutions, measurement input | 25 | 25 | |
Other assets - of which loans held-for-sale, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 40 | 25 | |
Loans - of which financial institutions, measurement input | 40 | 25 | |
Loans - of which government and public institutions, measurement input | 25 | 40 | |
Other assets - of which loans held-for-sale, measurement input | 40 | 1 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 29 | 25 | |
Loans - of which financial institutions, measurement input | 26 | 25 | |
Loans - of which government and public institutions, measurement input | 25 | 30 | |
Other assets - of which loans held-for-sale, measurement input | 24 | 1 | |
Bank | Recurring basis | Level 3 | Market comparable | |||
Assets | |||
Loans - of which commercial and industrial | SFr 437 | SFr 273 | |
Loans - of which financial institutions | SFr 167 | SFr 135 | |
Loans - of which government and public institutions, measurement input | 157 | 166 | |
Other assets - of which loans held-for-sale | SFr 1,945 | SFr 1,026 | |
Bank | Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 10 | 0 | |
Loans - of which financial institutions, measurement input | 12 | 16 | |
Loans - of which government and public institutions, measurement input | 62 | 62 | |
Other assets - of which loans held-for-sale, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 100 | 99 | |
Loans - of which financial institutions, measurement input | 100 | 100 | |
Loans - of which government and public institutions, measurement input | 62 | 62 | |
Other assets - of which loans held-for-sale, measurement input | 130 | 180 | |
Bank | Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 66 | 64 | |
Loans - of which financial institutions, measurement input | 41 | 36 | |
Loans - of which government and public institutions, measurement input | 62 | 62 | |
Other assets - of which loans held-for-sale, measurement input | 68 | 91 | |
Bank | Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | SFr 1,765 | SFr 1,463 | |
Bank | Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 1,066 | 1,052 | |
Bank | Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 3,198 | 1,923 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | SFr 163 | SFr 198 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 76 | 140 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 76 | 140 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 76 | 140 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | SFr 1,642 | SFr 1,128 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Option model | |||
Assets | |||
Trading assets | 622 | SFr 913 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 509 | ||
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (7) | ||
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1,558 | ||
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 606 | ||
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (50) | (60) | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 93 | 100 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 42 | 63 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 2 | 2 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 40 | ||
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 40 | ||
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 40 | ||
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 213 | 275 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 27 | 27 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | |||
Assets | |||
Trading assets | SFr 54 | ||
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1,373 | ||
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 1 | ||
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | |||
Assets | |||
Trading assets | SFr 302 | SFr 503 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 207 | 129 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 104 | 97 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | SFr 1,102 | SFr 317 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 14 | 12 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 2 | 2 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 1 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 40 | 36 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 7 | 13 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 32 | 46 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 2 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 35 | 45 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 9 | 10 | |
Bank | Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | SFr 142 | SFr 197 | |
Bank | Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 35,399 | 36,760 | |
Bank | Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 327 | 383 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | SFr 4,101 | SFr 3,534 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | SFr 639 | SFr 554 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (1) | 0 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 73 | 69 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 1 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 27 | 28 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 9 | 10 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (3) | (4) | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 0 | 6 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | (2) | (1) | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (30) | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 25 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | (2) | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Vendor price | |||
Assets | |||
Other investments | SFr 857 | SFr 857 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | SFr 138 | SFr 152 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 5 | 5 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 70 | 70 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 29 | 30 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 23 | 23 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 27 | 28 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 25 | 25 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | SFr 1,067 | SFr 1,040 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 50 | 50 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 70 | 70 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (50) | (50) | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 93 | 100 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 55 | 64 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Gap risk [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Gap risk [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 2 | 2 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Gap risk [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (85) | 0 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 213 | 275 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 16 | 30 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | SFr 1,172 | SFr 879 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 1,026 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 2 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 3,286 | 1,033 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 994 | 150 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 60 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 103 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 89 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 1 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 5 | 20 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 3 | 4 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 3 | 8 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 30 | 27 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 20 | 16 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 156 | 115 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 147 | 102 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 10 | 29 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 95 | 85 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 58 | 69 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 0 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 20 | 7 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 5 | 4 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 40 | 40 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 19 | 26 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | |||
Assets | |||
Trading assets | SFr 95 | SFr 142 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 91 | 86 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 113 | 110 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 107 | 98 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | SFr 1,085 | SFr 909 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 2 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 15 | 15 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | 6 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 71 | 71 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 134 | 134 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Bank | Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | SFr 1,356 | SFr 2,231 | |
Bank | Recurring basis | Level 3 | Other | Option model | |||
Assets | |||
Trading assets | SFr 204 | SFr 233 | |
Bank | Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 70 | 70 | |
Bank | Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | 6 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 881 | SFr 856 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Other investments | 9 | 9 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Other investments | 9 | 9 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Other investments | SFr 9 | SFr 9 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 3 | 2 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 14 | 15 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 8 | 7 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Terminal Growth Rate [Member] | Minimum | |||
Assets | |||
Other investments | SFr 3 | SFr 3 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Terminal Growth Rate [Member] | Maximum | |||
Assets | |||
Other investments | 3 | 3 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Terminal Growth Rate [Member] | Weighted average | |||
Assets | |||
Other investments | 3 | 3 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Other investments | 1 | 1 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Other investments | 912 | 869 | |
Bank | Recurring basis | Level 3 | Other | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Other investments | 282 | 231 | |
Bank | Recurring basis | Level 3 | Other | Market comparable | |||
Assets | |||
Trading assets | SFr 253 | SFr 1,118 | |
Bank | Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Other investments | SFr 100 | SFr 100 | |
Bank | Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 106 | 112 | |
Other investments | SFr 100 | SFr 100 | |
Bank | Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 24 | 27 | |
Other investments | SFr 100 | SFr 100 | |
Bank | Recurring basis | Level 3 | Other | Other equity investments | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Other investments | 702 | 398 | |
Bank | Recurring basis | Level 3 | Other | Other equity investments | Market comparable | Measurement Input, Market implied life expectancy [Member] | |||
Assets | |||
Other investments | SFr 146 | SFr 147 | |
Bank | Recurring basis | Level 3 | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Loans - of which real estate, measurement input | 2 | 2 | |
Bank | Recurring basis | Level 3 | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Loans - of which real estate, measurement input | 16 | 16 | |
Bank | Recurring basis | Level 3 | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Loans - of which real estate, measurement input | 6 | 6 | |
Bank | Nonrecurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 691 |
FI - Quantitative information_2
FI - Quantitative information about level 3 liabilities at fair value (Details 15) SFr in Millions, Pure in Millions | Jun. 30, 2020CHF (SFr) | Mar. 31, 2020CHF (SFr) | Dec. 31, 2019CHF (SFr) |
Liabilities | |||
Due to banks | SFr 484 | SFr 430 | SFr 322 |
Customer deposits | 3,603 | 3,572 | 3,339 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,379 | 24,271 | 10,715 |
Obligation to return securities received as collateral | 42,479 | 28,655 | 40,219 |
Trading liabilities | 44,040 | 44,877 | 38,186 |
Short-term borrowings | 12,079 | 10,084 | 11,333 |
Long-term debt | 68,798 | 60,360 | 70,331 |
Other liabilities | 7,384 | SFr 7,547 | 7,891 |
Recurring basis | |||
Liabilities | |||
Due to banks | 484 | 322 | |
Customer deposits | 3,603 | 3,339 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,379 | 10,715 | |
Obligation to return securities received as collateral | 42,479 | 40,219 | |
Trading liabilities | 44,040 | 38,186 | |
Short-term borrowings | 12,079 | 11,333 | |
Long-term debt | 68,798 | 70,331 | |
Other liabilities | 7,384 | 7,891 | |
Total liabilities at fair value | 196,246 | 182,336 | |
Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 12,539 | 10,182 | |
Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 34,694 | 39,084 | |
Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 7,914 | 7,594 | |
Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 5,502 | ||
Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 1,803 | ||
Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 7,606 | 8,922 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,810 | 3,889 | |
Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 21,000 | 15,792 | |
Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 15,434 | 13,472 | |
Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 433 | 474 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 170 | 1 | |
Trading liabilities | 3,727 | 3,854 | |
Short-term borrowings | 480 | 997 | |
Long-term debt | 8,491 | 12,610 | |
Other liabilities | 1,201 | 1,385 | |
Total liabilities at fair value | 14,502 | 19,321 | |
Recurring basis | Level 3 | Option model | |||
Liabilities | |||
Short-term borrowings | SFr 304 | SFr 847 | |
Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 50 | 50 | |
Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 70 | 70 | |
Recurring basis | Level 3 | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | 81 | 46 | |
Recurring basis | Level 3 | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 145 | 79 | |
Recurring basis | Level 3 | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 140 | 71 | |
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | (6) | 0 | |
Short-term borrowings, measurement input | (50) | (50) | |
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 100 | 100 | |
Short-term borrowings, measurement input | 93 | 100 | |
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 78 | 77 | |
Short-term borrowings, measurement input | 51 | 62 | |
Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 2 | 2 | |
Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Option model | Measurement Input, Mean reversion [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | 10 | 10 | |
Recurring basis | Level 3 | Option model | Measurement Input, Mean reversion [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 10 | 10 | |
Recurring basis | Level 3 | Option model | Measurement Input, Mean reversion [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 10 | 10 | |
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | 1 | |
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 213 | 275 | |
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 27 | 39 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Short-term borrowings | SFr 68 | SFr 56 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | (28) | (40) | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 1,317 | 937 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 1,160 | 138 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 35 | 40 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 40 | 40 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 40 | 40 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | SFr 756 | SFr 891 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | |||
Liabilities | |||
Long-term debt | SFr 574 | SFr 813 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 50 | 50 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 70 | 70 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (50) | (50) | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 93 | 100 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 49 | 64 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 2 | 2 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 1 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 213 | 275 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 19 | 36 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Long-term debt | SFr 42 | SFr 78 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | (15) | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 141 | 3,206 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 61 | 246 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 25 | 25 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 25 | 25 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 25 | 25 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | SFr 6,546 | SFr 11,458 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | |||
Liabilities | |||
Long-term debt | SFr 4,802 | SFr 9,972 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 50 | 50 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 70 | 70 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (50) | (60) | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 93 | 100 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 45 | 63 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 2 | 2 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (10) | (55) | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | (6) | (7) | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 213 | 275 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 23 | 26 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Long-term debt | SFr 1,601 | SFr 1,141 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (28) | (12) | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 562 | 1,260 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 110 | 40 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 5 | 25 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 49 | 40 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 33 | 29 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Market comparable | |||
Liabilities | |||
Long-term debt | SFr 13 | SFr 22 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 32 | 43 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 32 | 46 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 32 | 43 | |
Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | SFr 0 | SFr 5 | |
Recurring basis | Level 3 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 0 | ||
Recurring basis | Level 3 | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | SFr 655 | ||
Recurring basis | Level 3 | Long-term debt - of which nonrecourse liabilities | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | ||
Recurring basis | Level 3 | Long-term debt - of which nonrecourse liabilities | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 99 | ||
Recurring basis | Level 3 | Long-term debt - of which nonrecourse liabilities | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 51 | ||
Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | SFr 0 | 0 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | SFr 70 | SFr 53 | |
Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 323 | 66 | |
Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 2 | |
Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | SFr 3,657 | SFr 3,801 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | SFr 211 | SFr 167 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (1) | 0 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 65 | 47 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 1 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 27 | 28 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 6 | 7 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | SFr 92 | SFr 98 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | |||
Liabilities | |||
Trading liabilities | SFr 54 | SFr 47 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 35 | 35 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 70 | 70 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 53 | 53 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 23 | 23 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 27 | 28 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 25 | 25 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Trading liabilities | SFr 9 | SFr 37 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 190 | 47 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 190 | 147 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 190 | 71 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Market comparable | |||
Liabilities | |||
Trading liabilities | SFr 12 | ||
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | ||
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | ||
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | SFr 1,558 | SFr 1,211 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | |||
Liabilities | |||
Trading liabilities | SFr 16 | SFr 23 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 29 | 17 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 3,232 | 1,225 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 430 | 270 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 49 | 49 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 57 | 50 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 53 | 49 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Trading liabilities | SFr 922 | SFr 745 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 2 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 5,394 | 1,041 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 475 | 142 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 62 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 102 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 78 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 38 | 38 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 45 | 45 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 41 | 44 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 1 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 5 | 20 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 2 | 4 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 8 | 8 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 30 | 27 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 20 | 15 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 174 | 154 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 132 | 122 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 29 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 85 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 59 | 69 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 7 | 8 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 5 | 5 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 2 | 0 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 40 | 40 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 24 | 31 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | |||
Liabilities | |||
Trading liabilities | SFr 586 | SFr 412 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 89 | 89 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 113 | 110 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 99 | 99 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | SFr 1,401 | SFr 1,921 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 50 | 50 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 70 | 70 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (50) | (60) | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 93 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 49 | 66 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (85) | 0 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 213 | 275 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 24 | 26 | |
Bank | |||
Liabilities | |||
Due to banks | SFr 484 | SFr 322 | |
Customer deposits | 3,603 | 3,339 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,473 | 10,823 | |
Obligation to return securities received as collateral | 42,479 | 40,219 | |
Trading liabilities | 44,040 | 38,186 | |
Short-term borrowings | 12,079 | 11,333 | |
Long-term debt | 67,959 | 69,406 | |
Other liabilities | 7,365 | 7,869 | |
Bank | Recurring basis | |||
Liabilities | |||
Due to banks | 484 | 322 | |
Customer deposits | 3,603 | 3,339 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,473 | 10,823 | |
Obligation to return securities received as collateral | 42,479 | 40,219 | |
Trading liabilities | 44,040 | 38,186 | |
Short-term borrowings | 12,079 | 11,333 | |
Long-term debt | 67,959 | 69,406 | |
Other liabilities | 7,365 | 7,869 | |
Total liabilities at fair value | 195,482 | 181,497 | |
Bank | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 12,539 | 10,182 | |
Bank | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 34,694 | 39,084 | |
Bank | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 7,917 | 7,626 | |
Bank | Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 7,550 | 7,578 | |
Bank | Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 1,803 | ||
Bank | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 7,606 | 8,922 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,810 | 3,889 | |
Bank | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 21,000 | 15,792 | |
Bank | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 15,434 | 13,472 | |
Bank | Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 433 | 474 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 170 | 1 | |
Trading liabilities | 3,727 | 3,854 | |
Short-term borrowings | 480 | 997 | |
Long-term debt | 8,505 | 12,749 | |
Other liabilities | 1,185 | 1,367 | |
Total liabilities at fair value | 14,500 | 19,442 | |
Bank | Recurring basis | Level 3 | Option model | |||
Liabilities | |||
Short-term borrowings | SFr 304 | SFr 847 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 50 | 50 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 100 | 100 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 70 | 70 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | 81 | 46 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 145 | 79 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 140 | 71 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | (6) | 0 | |
Short-term borrowings, measurement input | (50) | (50) | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 100 | 100 | |
Short-term borrowings, measurement input | 93 | 100 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 78 | 77 | |
Short-term borrowings, measurement input | 51 | 62 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 2 | 2 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Mean reversion [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | 10 | 10 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Mean reversion [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 10 | 10 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Mean reversion [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 10 | 10 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | 1 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 213 | 275 | |
Bank | Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 27 | 39 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Short-term borrowings | SFr 68 | SFr 56 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | (28) | (40) | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 1,317 | 937 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 1,160 | 138 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 35 | 40 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 40 | 40 | |
Bank | Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 40 | 40 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | SFr 756 | SFr 891 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | |||
Liabilities | |||
Long-term debt | SFr 574 | SFr 813 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 50 | 50 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | 100 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 70 | 70 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (50) | (50) | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 93 | 100 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 49 | 64 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 2 | 2 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 1 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 213 | 275 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 19 | 36 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Long-term debt | SFr 42 | SFr 78 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | (15) | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 141 | 3,206 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 61 | 246 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 25 | 25 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 25 | 25 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 25 | 25 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | SFr 6,546 | SFr 11,458 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | |||
Liabilities | |||
Long-term debt | SFr 4,802 | SFr 9,972 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 50 | 50 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | 100 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 70 | 70 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (50) | (60) | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 93 | 100 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 45 | 63 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 2 | 2 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (10) | (55) | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | (6) | (7) | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 213 | 275 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 23 | 26 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Long-term debt | SFr 1,601 | SFr 1,141 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (28) | (12) | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 562 | 1,260 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 110 | 40 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 5 | 25 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 49 | 40 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 33 | 29 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Market comparable | |||
Liabilities | |||
Long-term debt | SFr 13 | SFr 22 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 32 | 43 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 32 | 46 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 32 | 43 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | SFr 0 | SFr 5 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 345 | 140 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | SFr 655 | ||
Bank | Recurring basis | Level 3 | Long-term debt - of which nonrecourse liabilities | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | ||
Bank | Recurring basis | Level 3 | Long-term debt - of which nonrecourse liabilities | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 99 | ||
Bank | Recurring basis | Level 3 | Long-term debt - of which nonrecourse liabilities | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 51 | ||
Bank | Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | SFr 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Bank | Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | SFr 70 | SFr 53 | |
Bank | Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 323 | 66 | |
Bank | Recurring basis | Level 3 | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 2 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | SFr 3,657 | SFr 3,801 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | SFr 211 | SFr 167 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (1) | 0 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 65 | 47 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 1 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 27 | 28 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 6 | 7 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | SFr 92 | SFr 98 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | |||
Liabilities | |||
Trading liabilities | SFr 54 | SFr 47 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 35 | 35 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 70 | 70 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 53 | 53 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 23 | 23 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 27 | 28 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 25 | 25 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Trading liabilities | SFr 9 | SFr 37 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 190 | 47 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 190 | 147 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 190 | 71 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Market comparable | |||
Liabilities | |||
Trading liabilities | SFr 12 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | SFr 1,558 | SFr 1,211 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | |||
Liabilities | |||
Trading liabilities | SFr 16 | SFr 23 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 29 | 17 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 3,232 | 1,225 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 430 | 270 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 49 | 49 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 57 | 50 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 53 | 49 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Trading liabilities | SFr 922 | SFr 745 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 2 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 5,394 | 1,041 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 475 | 142 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 62 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 102 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit curve volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 78 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 38 | 38 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 45 | 45 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 41 | 44 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 1 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 5 | 20 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 2 | 4 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 8 | 8 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 30 | 27 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 20 | 15 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 174 | 154 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 132 | 122 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 29 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 85 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 59 | 69 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 0 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 7 | 8 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 5 | 5 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 2 | 0 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 40 | 40 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 24 | 31 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | |||
Liabilities | |||
Trading liabilities | SFr 586 | SFr 412 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 89 | 89 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 113 | 110 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 99 | 99 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | SFr 1,401 | SFr 1,921 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 50 | 50 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 70 | 70 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (50) | (60) | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 93 | 100 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 49 | 66 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (85) | 0 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 213 | 275 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 24 | 26 |
FI - Carrying value and fair va
FI - Carrying value and fair value not held at fair value (Details 16) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | SFr 78,448 | SFr 88,511 | SFr 85,556 |
Available-for-sale Securities, Debt Securities | 489 | 1,068 | 1,006 |
Loans | 13,231 | 14,273 | 12,662 |
Other assets | 9,321 | 11,955 | 10,402 |
Financial liabilities | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,379 | 24,271 | 10,715 |
Short-term borrowings | 12,079 | 10,084 | 11,333 |
Long-term debt | 68,798 | 60,360 | 70,331 |
Other liabilities | 7,384 | SFr 7,547 | 7,891 |
Carrying value of financial instruments not carried at fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 26,442 | 21,441 | |
Available-for-sale Securities, Debt Securities | 95 | ||
Loans | 277,603 | 280,568 | |
Other assets | 147,847 | 114,543 | |
Financial liabilities | |||
Due to banks and deposits | 402,925 | 396,867 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 13,210 | 16,818 | |
Short-term borrowings | 15,308 | 17,052 | |
Long-term debt | 100,628 | 81,674 | |
Other liabilities | 14,462 | 15,867 | |
Estimate of fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 26,443 | 21,441 | |
Available-for-sale Securities, Debt Securities | 95 | ||
Loans | 286,998 | 289,899 | |
Other assets | 147,871 | 114,545 | |
Financial liabilities | |||
Due to banks and deposits | 402,996 | 396,872 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 13,210 | 16,818 | |
Short-term borrowings | 15,319 | 17,052 | |
Long-term debt | 101,786 | 84,141 | |
Other liabilities | 14,430 | 15,873 | |
Estimate of fair value | Level 1 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Available-for-sale Securities, Debt Securities | 95 | ||
Loans | 0 | 0 | |
Other assets | 131,752 | 101,600 | |
Financial liabilities | |||
Due to banks and deposits | 222,988 | 189,419 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 0 | 0 | |
Estimate of fair value | Level 2 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 26,443 | 21,441 | |
Available-for-sale Securities, Debt Securities | 0 | ||
Loans | 272,289 | 278,337 | |
Other assets | 15,468 | 12,225 | |
Financial liabilities | |||
Due to banks and deposits | 180,008 | 207,453 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 13,210 | 16,818 | |
Short-term borrowings | 15,319 | 17,052 | |
Long-term debt | 100,072 | 83,018 | |
Other liabilities | 14,117 | 15,705 | |
Estimate of fair value | Level 3 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Available-for-sale Securities, Debt Securities | 0 | ||
Loans | 14,709 | 11,562 | |
Other assets | 651 | 720 | |
Financial liabilities | |||
Due to banks and deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 1,714 | 1,123 | |
Other liabilities | 313 | 168 | |
Bank | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 78,448 | 85,556 | |
Available-for-sale Securities, Debt Securities | 487 | 1,004 | |
Loans | 13,231 | 12,661 | |
Other assets | 9,321 | 10,402 | |
Financial liabilities | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 17,473 | 10,823 | |
Short-term borrowings | 12,079 | 11,333 | |
Long-term debt | 67,959 | 69,406 | |
Other liabilities | 7,365 | 7,869 | |
Bank | Carrying value of financial instruments not carried at fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 26,442 | 21,441 | |
Available-for-sale Securities, Debt Securities | 95 | ||
Loans | 285,219 | 287,815 | |
Other assets | 147,190 | 114,267 | |
Financial liabilities | |||
Due to banks and deposits | 404,023 | 398,032 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 13,210 | 16,818 | |
Short-term borrowings | 15,783 | 17,536 | |
Long-term debt | 100,595 | 81,593 | |
Other liabilities | 14,739 | 16,508 | |
Bank | Estimate of fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 26,443 | 21,441 | |
Available-for-sale Securities, Debt Securities | 95 | ||
Loans | 294,579 | 297,137 | |
Other assets | 147,194 | 114,253 | |
Financial liabilities | |||
Due to banks and deposits | 404,096 | 398,037 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 13,210 | 16,818 | |
Short-term borrowings | 15,794 | 17,536 | |
Long-term debt | 102,214 | 84,204 | |
Other liabilities | 14,707 | 16,511 | |
Bank | Estimate of fair value | Level 1 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Available-for-sale Securities, Debt Securities | 95 | ||
Loans | 0 | 0 | |
Other assets | 130,968 | 100,765 | |
Financial liabilities | |||
Due to banks and deposits | 223,722 | 190,251 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 0 | 0 | |
Bank | Estimate of fair value | Level 2 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 26,443 | 21,441 | |
Available-for-sale Securities, Debt Securities | 0 | ||
Loans | 279,870 | 285,575 | |
Other assets | 15,575 | 12,769 | |
Financial liabilities | |||
Due to banks and deposits | 180,374 | 207,786 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 13,210 | 16,818 | |
Short-term borrowings | 15,794 | 17,536 | |
Long-term debt | 100,576 | 83,081 | |
Other liabilities | 14,394 | 16,343 | |
Bank | Estimate of fair value | Level 3 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Available-for-sale Securities, Debt Securities | 0 | ||
Loans | 14,709 | 11,562 | |
Other assets | 651 | 719 | |
Financial liabilities | |||
Due to banks and deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 1,638 | 1,123 | |
Other liabilities | SFr 313 | SFr 168 |
FI - Own credit gains_(losses)
FI - Own credit gains/(losses) on fair value option elected instruments (Details 17) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Financial instruments | ||
Gains/(losses) recorded into AOCI | SFr (3,189) | SFr (365) |
Gains/(losses) recorded into AOCI, Cumulatively | (948) | |
Gains/(losses) recorded into AOCI transferred to net income | 22 | 80 |
Due to banks and customer deposits | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (15) | (8) |
Gains/(losses) recorded into AOCI, Cumulatively | (44) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Short-term borrowings | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (24) | 1 |
Gains/(losses) recorded into AOCI, Cumulatively | (78) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 1 |
Long-term debt | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (3,150) | (358) |
Gains/(losses) recorded into AOCI, Cumulatively | (826) | |
Gains/(losses) recorded into AOCI transferred to net income | 22 | 79 |
Long-term debt - of which structured notes over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (1,253) | (36) |
Gains/(losses) recorded into AOCI, Cumulatively | (1,159) | |
Gains/(losses) recorded into AOCI transferred to net income | 22 | 79 |
Long-term debt - of which treasury debt over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (1,632) | (278) |
Gains/(losses) recorded into AOCI, Cumulatively | 359 | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Bank | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 1,724 | (1,509) |
Gains/(losses) recorded into AOCI, Cumulatively | (935) | |
Gains/(losses) recorded into AOCI transferred to net income | 99 | 110 |
Bank | Due to banks and customer deposits | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 23 | (34) |
Gains/(losses) recorded into AOCI, Cumulatively | (44) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Bank | Short-term borrowings | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (22) | 1 |
Gains/(losses) recorded into AOCI, Cumulatively | (78) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 1 |
Bank | Long-term debt | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 1,723 | (1,476) |
Gains/(losses) recorded into AOCI, Cumulatively | (813) | |
Gains/(losses) recorded into AOCI transferred to net income | 99 | 109 |
Bank | Long-term debt - of which structured notes over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 300 | (670) |
Gains/(losses) recorded into AOCI, Cumulatively | (1,170) | |
Gains/(losses) recorded into AOCI transferred to net income | 99 | 109 |
Bank | Long-term debt - of which treasury debt over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 1,306 | (652) |
Gains/(losses) recorded into AOCI, Cumulatively | 383 | |
Gains/(losses) recorded into AOCI transferred to net income | SFr 0 | SFr 0 |
Assets pledged and collateral_2
Assets pledged and collateral (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |
Dec. 31, 2019 | Jun. 30, 2020 | Dec. 31, 2019 | |
Assets pledged and collateral | |||
Total assets pledged or assigned as collateral | SFr 133,333 | SFr 137,134 | SFr 133,333 |
of which encumbered | 69,681 | 66,697 | 69,681 |
Fair value of collateral received with the right to sell or repledge | 412,765 | 419,378 | 412,765 |
of which sold or repledged | 185,935 | 186,730 | |
Bank | |||
Assets pledged and collateral | |||
Total assets pledged or assigned as collateral | 133,333 | 137,134 | 133,333 |
of which encumbered | 69,681 | 66,697 | 69,681 |
Fair value of collateral received with the right to sell or repledge | SFr 412,765 | 419,378 | 412,765 |
of which sold or repledged | SFr 186,730 | SFr 185,935 |
Litigation (Details)
Litigation (Details) - 3 months ended Jun. 30, 2020 SFr in Millions, $ in Millions | CHF (SFr) | USD ($) |
Pending Litigation | ||
Litigation disclosures | ||
Net litigation provisions recorded | SFr | SFr 120 | |
Pending Litigation | Minimum | ||
Litigation provisions | ||
Range of possible losses that are not covered by existing provisions | SFr | 0 | |
Pending Litigation | Maximum | ||
Litigation provisions | ||
Range of possible losses that are not covered by existing provisions | SFr | SFr 1,300 | |
Credit Suisse Securities (USA) LLC | Mortgage-related matters - Individual investor actions | Federal Home Loan Bank of Seattle | Washington State Court | ||
Litigation disclosures | ||
Value of RMBS issued by third party underwritten by CSS LLC | $ | $ 145 | |
Credit Suisse Securities (USA) LLC | Rates Related Matters | Punitive class action lawsuits | US District Court for the Southern District of New York (SDNY) | Minimum | ||
Litigation disclosures | ||
Estimated damages | $ | 10 | |
Credit Suisse AG | ADR litigation | Punitive class action lawsuits | US District Court for the Southern District of New York (SDNY) | ||
Litigation disclosures | ||
Litigation Settlement, Amount Awarded to Other Party | $ | $ 15.5 |
Subsidiary guarantee informat_3
Subsidiary guarantee information - Income statement related (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Condensed consolidating statements of operations | |||||
Interest and dividend income | SFr 3,589 | SFr 4,295 | SFr 5,653 | SFr 7,884 | SFr 10,471 |
Interest expense | (2,019) | (2,761) | (3,652) | (4,780) | (6,938) |
Net interest income | 1,570 | 1,534 | 2,001 | 3,104 | 3,533 |
Commissions and fees | 2,880 | 2,927 | 2,927 | 5,807 | 5,539 |
Trading revenues | 1,254 | 927 | 182 | 2,181 | 1,022 |
Other revenues | 490 | 388 | 471 | 878 | 874 |
Net revenues | 6,194 | 5,776 | 5,581 | 11,970 | 10,968 |
Provision for credit losses | 296 | 568 | 25 | 864 | 106 |
Compensation and benefits | 2,594 | 2,316 | 2,545 | 4,910 | 5,063 |
General and administrative expenses | 1,440 | 1,346 | 1,395 | 2,786 | 2,808 |
Commission expenses | 313 | 345 | 314 | 658 | 627 |
Total other operating expenses | 1,753 | 1,691 | 1,709 | 3,444 | 3,435 |
Total operating expenses | 4,347 | 4,007 | 4,254 | 8,354 | 8,498 |
Income/(loss) before taxes | 1,551 | 1,201 | 1,302 | 2,752 | 2,364 |
Income tax expense/(benefit) | 391 | (110) | 365 | 281 | 678 |
Net income/(loss) | 1,160 | 1,311 | 937 | 2,471 | 1,686 |
Net income/(loss) attributable to noncontrolling interests | (2) | (3) | 0 | (5) | 0 |
Net income/(loss) attributable to shareholders | 1,162 | SFr 1,314 | 937 | 2,476 | 1,686 |
Eliminations and consolidation adjustments | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | (399) | (313) | (739) | (616) | |
Interest expense | 405 | 318 | 746 | 618 | |
Net interest income | 6 | 5 | 7 | 2 | |
Commissions and fees | (21) | 18 | (19) | 45 | |
Trading revenues | 28 | 5 | 71 | (1) | |
Other revenues | (1,255) | (1,083) | (2,621) | (1,909) | |
Net revenues | (1,242) | (1,055) | (2,562) | (1,863) | |
Provision for credit losses | 4 | 0 | 4 | 0 | |
Compensation and benefits | 200 | 210 | 451 | 406 | |
General and administrative expenses | (348) | (361) | (712) | (686) | |
Commission expenses | (2) | 1 | (2) | 0 | |
Total other operating expenses | (350) | (360) | (714) | (686) | |
Total operating expenses | (150) | (150) | (263) | (280) | |
Income/(loss) before taxes | (1,096) | (905) | (2,303) | (1,583) | |
Income tax expense/(benefit) | 25 | 26 | 40 | (23) | |
Net income/(loss) | (1,121) | (931) | (2,343) | (1,560) | |
Net income/(loss) attributable to noncontrolling interests | 0 | (4) | (9) | (7) | |
Net income/(loss) attributable to shareholders | (1,121) | (927) | (2,334) | (1,553) | |
Group parent company | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 403 | 311 | 756 | 611 | |
Interest expense | (407) | (322) | (763) | (635) | |
Net interest income | (4) | (11) | (7) | (24) | |
Commissions and fees | 5 | 5 | 10 | 11 | |
Trading revenues | (1) | (54) | 5 | (64) | |
Other revenues | 1,206 | 1,020 | 2,509 | 1,797 | |
Net revenues | 1,206 | 960 | 2,517 | 1,720 | |
Provision for credit losses | 0 | 0 | 0 | 0 | |
Compensation and benefits | 31 | 30 | 39 | 48 | |
General and administrative expenses | 15 | (7) | 3 | (14) | |
Commission expenses | 2 | 0 | 2 | 0 | |
Total other operating expenses | 17 | (7) | 5 | (14) | |
Total operating expenses | 48 | 23 | 44 | 34 | |
Income/(loss) before taxes | 1,158 | 937 | 2,473 | 1,686 | |
Income tax expense/(benefit) | (4) | 0 | (3) | 0 | |
Net income/(loss) | 1,162 | 937 | 2,476 | 1,686 | |
Net income/(loss) attributable to noncontrolling interests | 0 | 0 | 0 | 0 | |
Net income/(loss) attributable to shareholders | 1,162 | 937 | 2,476 | 1,686 | |
Bank | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 3,585 | 5,655 | 7,867 | 10,476 | |
Interest expense | (2,017) | (3,648) | (4,763) | (6,921) | |
Net interest income | 1,568 | 2,007 | 3,104 | 3,555 | |
Commissions and fees | 2,896 | 2,904 | 5,816 | 5,483 | |
Trading revenues | 1,227 | 231 | 2,105 | 1,087 | |
Other revenues | 539 | 534 | 990 | 986 | |
Net revenues | 6,230 | 5,676 | 12,015 | 11,111 | |
Provision for credit losses | 292 | 25 | 860 | 106 | |
Compensation and benefits | 2,363 | 2,305 | 4,420 | 4,609 | |
General and administrative expenses | 1,773 | 1,763 | 3,495 | 3,508 | |
Commission expenses | 313 | 313 | 658 | 627 | |
Total other operating expenses | 2,086 | 2,076 | 4,153 | 4,135 | |
Total operating expenses | 4,449 | 4,381 | 8,573 | 8,744 | |
Income/(loss) before taxes | 1,489 | 1,270 | 2,582 | 2,261 | |
Income tax expense/(benefit) | 370 | 339 | 244 | 701 | |
Net income/(loss) | 1,119 | 931 | 2,338 | 1,560 | |
Net income/(loss) attributable to noncontrolling interests | (2) | 4 | 4 | 7 | |
Net income/(loss) attributable to shareholders | 1,121 | 927 | 2,334 | 1,553 | |
Bank | Credit Suisse (USA), Inc - Consolidated | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 600 | 1,016 | 1,340 | 2,014 | |
Interest expense | (647) | (1,096) | (1,479) | (2,158) | |
Net interest income | (47) | (80) | (139) | (144) | |
Commissions and fees | 967 | 912 | 1,769 | 1,616 | |
Trading revenues | 156 | 221 | 276 | 426 | |
Other revenues | 766 | 512 | 1,261 | 996 | |
Net revenues | 1,842 | 1,565 | 3,167 | 2,894 | |
Provision for credit losses | 11 | 3 | 20 | 9 | |
Compensation and benefits | 726 | 698 | 1,317 | 1,430 | |
General and administrative expenses | 434 | 459 | 887 | 908 | |
Commission expenses | 51 | 44 | 106 | 95 | |
Total other operating expenses | 485 | 503 | 993 | 1,003 | |
Total operating expenses | 1,211 | 1,201 | 2,310 | 2,433 | |
Income/(loss) before taxes | 620 | 361 | 837 | 452 | |
Income tax expense/(benefit) | 185 | 140 | 191 | 180 | |
Net income/(loss) | 435 | 221 | 646 | 272 | |
Net income/(loss) attributable to noncontrolling interests | 0 | 3 | (4) | 3 | |
Net income/(loss) attributable to shareholders | 435 | 218 | 650 | 269 | |
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 2,985 | 4,639 | 6,527 | 8,462 | |
Interest expense | (1,370) | (2,552) | (3,284) | (4,763) | |
Net interest income | 1,615 | 2,087 | 3,243 | 3,699 | |
Commissions and fees | 1,929 | 1,992 | 4,047 | 3,867 | |
Trading revenues | 1,071 | 10 | 1,829 | 661 | |
Other revenues | (227) | 22 | (271) | (10) | |
Net revenues | 4,388 | 4,111 | 8,848 | 8,217 | |
Provision for credit losses | 281 | 22 | 840 | 97 | |
Compensation and benefits | 1,637 | 1,607 | 3,103 | 3,179 | |
General and administrative expenses | 1,339 | 1,304 | 2,608 | 2,600 | |
Commission expenses | 262 | 269 | 552 | 532 | |
Total other operating expenses | 1,601 | 1,573 | 3,160 | 3,132 | |
Total operating expenses | 3,238 | 3,180 | 6,263 | 6,311 | |
Income/(loss) before taxes | 869 | 909 | 1,745 | 1,809 | |
Income tax expense/(benefit) | 185 | 199 | 53 | 521 | |
Net income/(loss) | 684 | 710 | 1,692 | 1,288 | |
Net income/(loss) attributable to noncontrolling interests | (2) | 1 | 8 | 4 | |
Net income/(loss) attributable to shareholders | SFr 686 | SFr 709 | SFr 1,684 | SFr 1,284 |
Subsidiary guarantee informat_4
Subsidiary guarantee information - Comprehensive income related (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Comprehensive income | |||||
Net income/(loss) | SFr 1,160 | SFr 1,311 | SFr 937 | SFr 2,471 | SFr 1,686 |
Gains/(losses) on cash flow hedges | 18 | 225 | 43 | 243 | 89 |
Foreign currency translation | (433) | (596) | (592) | (1,029) | (393) |
Unrealized gains/(losses) on securities | (18) | (2) | 12 | (20) | 26 |
Actuarial gains/(losses) | 73 | 73 | 386 | 146 | 446 |
Net prior service cost | (34) | (34) | 306 | (68) | 282 |
Other comprehensive income/(loss), net of tax | (3,052) | 4,016 | (76) | 964 | (902) |
Comprehensive income/(loss) | (1,892) | 5,327 | 861 | 3,435 | 784 |
Comprehensive income/(loss) attributable to noncontrolling interests | (2) | (4) | (3) | (6) | (1) |
Comprehensive income/(loss) attributable to shareholders | (1,890) | 5,331 | 864 | 3,441 | 785 |
Gains/(losses) on liabilities related to credit risk | (2,658) | SFr 4,350 | (231) | 1,692 | (1,352) |
Eliminations and consolidation adjustments | |||||
Comprehensive income | |||||
Net income/(loss) | (1,121) | (931) | (2,343) | (1,560) | |
Gains/(losses) on cash flow hedges | 1 | (1) | 0 | (1) | |
Foreign currency translation | (22) | (13) | (30) | (4) | |
Unrealized gains/(losses) on securities | 0 | 0 | 0 | (1) | |
Actuarial gains/(losses) | 68 | 382 | 139 | 438 | |
Net prior service cost | (33) | 306 | (68) | 282 | |
Other comprehensive income/(loss), net of tax | 19 | 678 | 48 | 648 | |
Comprehensive income/(loss) | (1,102) | (253) | (2,295) | (912) | |
Comprehensive income/(loss) attributable to noncontrolling interests | 8 | 7 | 3 | (1) | |
Comprehensive income/(loss) attributable to shareholders | (1,110) | (260) | (2,298) | (911) | |
Gains/(losses) on liabilities related to credit risk | 5 | 4 | 7 | (66) | |
Group parent company | |||||
Comprehensive income | |||||
Net income/(loss) | 1,162 | 937 | 2,476 | 1,686 | |
Gains/(losses) on cash flow hedges | 0 | (1) | 0 | (3) | |
Foreign currency translation | 12 | (1) | 12 | 2 | |
Unrealized gains/(losses) on securities | 0 | 0 | 0 | 0 | |
Actuarial gains/(losses) | 0 | 0 | 0 | 0 | |
Net prior service cost | 0 | 0 | 0 | 0 | |
Other comprehensive income/(loss), net of tax | (76) | (21) | 83 | (49) | |
Comprehensive income/(loss) | 1,086 | 916 | 2,559 | 1,637 | |
Comprehensive income/(loss) attributable to noncontrolling interests | 0 | 0 | 0 | 0 | |
Comprehensive income/(loss) attributable to shareholders | 1,086 | 916 | 2,559 | 1,637 | |
Gains/(losses) on liabilities related to credit risk | (88) | (19) | 71 | (48) | |
Bank | |||||
Comprehensive income | |||||
Net income/(loss) | 1,119 | 931 | 2,338 | 1,560 | |
Gains/(losses) on cash flow hedges | 17 | 45 | 243 | 93 | |
Foreign currency translation | (423) | (578) | (1,011) | (391) | |
Unrealized gains/(losses) on securities | (18) | 12 | (20) | 27 | |
Actuarial gains/(losses) | 5 | 4 | 7 | 8 | |
Net prior service cost | (1) | 0 | 0 | 0 | |
Other comprehensive income/(loss), net of tax | (2,995) | (733) | 833 | (1,501) | |
Comprehensive income/(loss) | (1,876) | 198 | 3,171 | 59 | |
Comprehensive income/(loss) attributable to noncontrolling interests | (10) | (10) | (9) | 0 | |
Comprehensive income/(loss) attributable to shareholders | (1,866) | 208 | 3,180 | 59 | |
Gains/(losses) on liabilities related to credit risk | (2,575) | (216) | 1,614 | (1,238) | |
Bank | Credit Suisse (USA), Inc - Consolidated | |||||
Comprehensive income | |||||
Net income/(loss) | 435 | 221 | 646 | 272 | |
Gains/(losses) on cash flow hedges | 0 | 0 | 0 | 0 | |
Foreign currency translation | (245) | (323) | (337) | (147) | |
Unrealized gains/(losses) on securities | 0 | 0 | 0 | 0 | |
Actuarial gains/(losses) | 1 | 4 | 3 | 6 | |
Net prior service cost | 0 | 0 | 0 | 0 | |
Other comprehensive income/(loss), net of tax | (307) | (335) | (268) | (194) | |
Comprehensive income/(loss) | 128 | (114) | 378 | 78 | |
Comprehensive income/(loss) attributable to noncontrolling interests | (1) | 1 | (5) | 2 | |
Comprehensive income/(loss) attributable to shareholders | 129 | (115) | 383 | 76 | |
Gains/(losses) on liabilities related to credit risk | (63) | (16) | 66 | (53) | |
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | |||||
Comprehensive income | |||||
Net income/(loss) | 684 | 710 | 1,692 | 1,288 | |
Gains/(losses) on cash flow hedges | 17 | 45 | 243 | 93 | |
Foreign currency translation | (178) | (255) | (674) | (244) | |
Unrealized gains/(losses) on securities | (18) | 12 | (20) | 27 | |
Actuarial gains/(losses) | 4 | 0 | 4 | 2 | |
Net prior service cost | (1) | 0 | 0 | 0 | |
Other comprehensive income/(loss), net of tax | (2,688) | (398) | 1,101 | (1,307) | |
Comprehensive income/(loss) | (2,004) | 312 | 2,793 | (19) | |
Comprehensive income/(loss) attributable to noncontrolling interests | (9) | (11) | (4) | (2) | |
Comprehensive income/(loss) attributable to shareholders | (1,995) | 323 | 2,797 | (17) | |
Gains/(losses) on liabilities related to credit risk | SFr (2,512) | SFr (200) | SFr 1,548 | SFr (1,185) |
Subsidiary guarantee informat_5
Subsidiary guarantee information - Balance sheet related (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | SFr 132,070 | [1] | SFr 119,172 | SFr 101,879 | [1] | SFr 92,489 | [1] | SFr 100,047 | [1] | ||
Interest-bearing deposits with banks | 1,185 | 912 | 741 | ||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,890 | 107,876 | 106,997 | ||||||||
Securities received as collateral | 42,479 | 28,655 | 40,219 | ||||||||
Trading assets | 156,730 | 150,798 | 153,797 | ||||||||
Investment securities | 584 | 1,164 | 1,006 | ||||||||
Other investments | 5,848 | 5,858 | 5,666 | ||||||||
Net loans | 294,312 | 302,674 | 296,779 | ||||||||
Goodwill | 4,676 | 4,604 | 4,663 | ||||||||
Other intangible assets | 273 | 279 | 291 | ||||||||
Brokerage receivables | 44,287 | 62,893 | 35,648 | ||||||||
Other assets | 41,146 | 47,281 | 39,609 | ||||||||
Total assets | 828,480 | 832,166 | 787,295 | ||||||||
Liabilities and equity | |||||||||||
Due to banks | 18,018 | 25,394 | 16,744 | ||||||||
Customer deposits | 388,995 | 389,905 | 383,783 | ||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 30,589 | 45,451 | 27,533 | ||||||||
Obligation to return securities received as collateral | 42,479 | 28,655 | 40,219 | ||||||||
Trading liabilities | 44,040 | 44,877 | 38,186 | ||||||||
Short-term borrowings | 27,386 | 27,929 | 28,385 | ||||||||
Long-term debt | 169,426 | 144,923 | 152,005 | ||||||||
Brokerage payables | 31,909 | 44,171 | 25,683 | ||||||||
Other liabilities | 28,787 | 32,088 | 31,043 | ||||||||
Total liabilities | 781,629 | 783,393 | 743,581 | ||||||||
Total shareholders' equity | 46,535 | 48,675 | 43,644 | ||||||||
Noncontrolling interests | 316 | 98 | 70 | ||||||||
Total equity | 46,851 | 48,773 | 43,714 | 43,928 | SFr 43,931 | 44,019 | |||||
Total liabilities and equity | 828,480 | SFr 832,166 | 787,295 | ||||||||
Eliminations and consolidation adjustments | |||||||||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | 485 | 558 | 451 | 409 | |||||||
Interest-bearing deposits with banks | (471) | (421) | |||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |||||||||
Securities received as collateral | 0 | 0 | |||||||||
Trading assets | (147) | (99) | |||||||||
Investment securities | (41,350) | (32,851) | |||||||||
Other investments | (52,991) | (49,748) | |||||||||
Net loans | (7,615) | (7,246) | |||||||||
Goodwill | 697 | 703 | |||||||||
Other intangible assets | 0 | 0 | |||||||||
Brokerage receivables | (2) | 0 | |||||||||
Other assets | 2,480 | 1,915 | |||||||||
Total assets | (98,914) | (87,189) | |||||||||
Liabilities and equity | |||||||||||
Due to banks | (1,758) | (2,285) | |||||||||
Customer deposits | (1,098) | (1,167) | |||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (94) | (108) | |||||||||
Obligation to return securities received as collateral | 0 | 0 | |||||||||
Trading liabilities | 0 | 0 | |||||||||
Short-term borrowings | (475) | (484) | |||||||||
Long-term debt | (46,163) | (36,591) | |||||||||
Brokerage payables | (2) | 0 | |||||||||
Other liabilities | 400 | 139 | |||||||||
Total liabilities | (49,190) | (40,496) | |||||||||
Total shareholders' equity | (49,154) | (46,120) | |||||||||
Noncontrolling interests | (570) | (573) | |||||||||
Total equity | (49,724) | (46,693) | |||||||||
Total liabilities and equity | (98,914) | (87,189) | |||||||||
Group parent company | |||||||||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | 293 | 277 | 264 | [1] | 324 | [1] | |||||
Interest-bearing deposits with banks | 480 | 489 | |||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |||||||||
Securities received as collateral | 0 | 0 | |||||||||
Trading assets | 0 | 1 | |||||||||
Investment securities | 41,352 | 32,853 | |||||||||
Other investments | 53,025 | 49,780 | |||||||||
Net loans | 0 | 0 | |||||||||
Goodwill | 0 | 0 | |||||||||
Other intangible assets | 0 | 0 | |||||||||
Brokerage receivables | 0 | 0 | |||||||||
Other assets | 755 | 625 | |||||||||
Total assets | 95,905 | 84,025 | |||||||||
Liabilities and equity | |||||||||||
Due to banks | 1,758 | 2,287 | |||||||||
Customer deposits | 0 | 0 | |||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |||||||||
Obligation to return securities received as collateral | 0 | 0 | |||||||||
Trading liabilities | 0 | 0 | |||||||||
Short-term borrowings | 0 | 0 | |||||||||
Long-term debt | 47,035 | 37,596 | |||||||||
Brokerage payables | 0 | 0 | |||||||||
Other liabilities | 577 | 498 | |||||||||
Total liabilities | 49,370 | 40,381 | |||||||||
Total shareholders' equity | 46,535 | 43,644 | |||||||||
Noncontrolling interests | 0 | 0 | |||||||||
Total equity | 46,535 | 43,644 | |||||||||
Total liabilities and equity | 95,905 | 84,025 | |||||||||
Bank | |||||||||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | [2] | 131,292 | 101,044 | 91,774 | 99,314 | ||||||
Interest-bearing deposits with banks | 1,176 | 673 | |||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,890 | 106,997 | |||||||||
Securities received as collateral | 42,479 | 40,219 | |||||||||
Trading assets | 156,877 | 153,895 | |||||||||
Investment securities | 582 | 1,004 | |||||||||
Other investments | 5,814 | 5,634 | |||||||||
Net loans | 301,927 | 304,025 | |||||||||
Goodwill | 3,979 | 3,960 | |||||||||
Other intangible assets | 273 | 291 | |||||||||
Brokerage receivables | 44,289 | 35,648 | |||||||||
Other assets | 37,911 | 37,069 | |||||||||
Total assets | 831,489 | 790,459 | |||||||||
Liabilities and equity | |||||||||||
Due to banks | 18,018 | 16,742 | |||||||||
Customer deposits | 390,093 | 384,950 | |||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 30,683 | 27,641 | |||||||||
Obligation to return securities received as collateral | 42,479 | 40,219 | |||||||||
Trading liabilities | 44,040 | 38,186 | |||||||||
Short-term borrowings | 27,861 | 28,869 | |||||||||
Long-term debt | 168,554 | 151,000 | |||||||||
Brokerage payables | 31,911 | 25,683 | |||||||||
Other liabilities | 27,810 | 30,406 | |||||||||
Total liabilities | 781,449 | 743,696 | |||||||||
Total shareholders' equity | 49,154 | 46,120 | |||||||||
Noncontrolling interests | 886 | 643 | |||||||||
Total equity | 50,040 | 46,763 | 46,174 | 45,994 | |||||||
Total liabilities and equity | 831,489 | 790,459 | |||||||||
Bank | Credit Suisse (USA), Inc - Consolidated | |||||||||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | 2,678 | 2,642 | 2,687 | 2,540 | |||||||
Interest-bearing deposits with banks | 8 | 10 | |||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 37,319 | 26,905 | |||||||||
Securities received as collateral | 1,874 | 2,921 | |||||||||
Trading assets | 30,703 | 35,339 | |||||||||
Investment securities | 0 | 0 | |||||||||
Other investments | 578 | 621 | |||||||||
Net loans | 11,991 | 11,907 | |||||||||
Goodwill | 701 | 715 | |||||||||
Other intangible assets | 240 | 276 | |||||||||
Brokerage receivables | 17,842 | 17,012 | |||||||||
Other assets | 12,855 | 12,843 | |||||||||
Total assets | 116,789 | 111,191 | |||||||||
Liabilities and equity | |||||||||||
Due to banks | 80 | 63 | |||||||||
Customer deposits | 1 | 1 | |||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 8,114 | 5,799 | |||||||||
Obligation to return securities received as collateral | 1,874 | 2,921 | |||||||||
Trading liabilities | 9,497 | 8,468 | |||||||||
Short-term borrowings | 6,363 | 8,720 | |||||||||
Long-term debt | 47,645 | 43,821 | |||||||||
Brokerage payables | 15,987 | 15,213 | |||||||||
Other liabilities | 10,116 | 9,414 | |||||||||
Total liabilities | 99,677 | 94,420 | |||||||||
Total shareholders' equity | 17,057 | 16,713 | |||||||||
Noncontrolling interests | 55 | 58 | |||||||||
Total equity | 17,112 | 16,771 | |||||||||
Total liabilities and equity | 116,789 | 111,191 | |||||||||
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | |||||||||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | 128,614 | 98,402 | SFr 89,087 | SFr 96,774 | |||||||
Interest-bearing deposits with banks | 1,168 | 663 | |||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 67,571 | 80,092 | |||||||||
Securities received as collateral | 40,605 | 37,298 | |||||||||
Trading assets | 126,174 | 118,556 | |||||||||
Investment securities | 582 | 1,004 | |||||||||
Other investments | 5,236 | 5,013 | |||||||||
Net loans | 289,936 | 292,118 | |||||||||
Goodwill | 3,278 | 3,245 | |||||||||
Other intangible assets | 33 | 15 | |||||||||
Brokerage receivables | 26,447 | 18,636 | |||||||||
Other assets | 25,056 | 24,226 | |||||||||
Total assets | 714,700 | 679,268 | |||||||||
Liabilities and equity | |||||||||||
Due to banks | 17,938 | 16,679 | |||||||||
Customer deposits | 390,092 | 384,949 | |||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 22,569 | 21,842 | |||||||||
Obligation to return securities received as collateral | 40,605 | 37,298 | |||||||||
Trading liabilities | 34,543 | 29,718 | |||||||||
Short-term borrowings | 21,498 | 20,149 | |||||||||
Long-term debt | 120,909 | 107,179 | |||||||||
Brokerage payables | 15,924 | 10,470 | |||||||||
Other liabilities | 17,694 | 20,992 | |||||||||
Total liabilities | 681,772 | 649,276 | |||||||||
Total shareholders' equity | 32,097 | 29,407 | |||||||||
Noncontrolling interests | 831 | 585 | |||||||||
Total equity | 32,928 | 29,992 | |||||||||
Total liabilities and equity | SFr 714,700 | SFr 679,268 | |||||||||
[1] | Includes restricted cash. | ||||||||||
[2] | Includes restricted cash. |
Subsidiary guarantee informat_6
Subsidiary guarantee information - Cash flow related (Details 4) - CHF (SFr) SFr in Millions | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | |||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | SFr (2,555) | SFr (3,460) | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | (411) | 236 | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (899) | 2,920 | ||
Purchase of investment securities | (259) | (307) | ||
Proceeds from sale of investment securities | 626 | 4 | ||
Investments in subsidiaries and other investments | (71) | (147) | ||
Proceeds from sale of other investments | 413 | 592 | ||
Maturities of investment securities | 51 | 394 | ||
(Increase)/decrease in loans | (2,623) | (9,867) | ||
Proceeds from sale of loans | 2,319 | 2,460 | ||
Capital expenditures for premises and equipment and other intangible assets | (553) | (554) | ||
Proceeds from sale of premises and equipment and other intangible assets | 23 | 29 | ||
Other, net | 88 | 222 | ||
Net cash provided by/(used in) investing activities | (1,296) | (4,018) | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 9,657 | 4,997 | ||
Increase/(decrease) in short-term borrowings | (152) | 3,844 | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 3,718 | (4,967) | ||
Issuances of long-term debt | 41,339 | 14,637 | ||
Repayments of long-term debt | (19,814) | (18,604) | ||
Sale of treasury shares | 4,003 | 4,720 | ||
Repurchase of treasury shares | (4,499) | (5,718) | ||
Dividends paid/capital repayments | (358) | (696) | ||
Other, net | 991 | 1,854 | ||
Net cash provided by/(used in) financing activities | 34,885 | 67 | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | (843) | (147) | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | 30,191 | (7,558) | ||
Cash and due from banks at beginning of period | [1] | 101,879 | 100,047 | |
Cash and due from banks at end of period | [1] | 132,070 | 92,489 | |
Eliminations and consolidation adjustments | ||||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | 210 | (847) | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | 50 | (6) | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | ||
Purchase of investment securities | 9,946 | 3,517 | ||
Proceeds from sale of investment securities | 0 | 0 | ||
Investments in subsidiaries and other investments | 0 | 5 | ||
Proceeds from sale of other investments | 0 | (1) | ||
Maturities of investment securities | 0 | 0 | ||
(Increase)/decrease in loans | 379 | 1,198 | ||
Proceeds from sale of loans | 0 | 0 | ||
Capital expenditures for premises and equipment and other intangible assets | (69) | (83) | ||
Proceeds from sale of premises and equipment and other intangible assets | 0 | 0 | ||
Other, net | 0 | 0 | ||
Net cash provided by/(used in) investing activities | 10,306 | 4,630 | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 591 | (317) | ||
Increase/(decrease) in short-term borrowings | (553) | (47) | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 11 | (111) | ||
Issuances of long-term debt | (10,699) | (4,239) | ||
Repayments of long-term debt | 0 | 0 | ||
Sale of treasury shares | 4,003 | 4,717 | ||
Repurchase of treasury shares | (4,011) | (4,705) | ||
Dividends paid/capital repayments | 10 | 10 | ||
Other, net | 107 | 948 | ||
Net cash provided by/(used in) financing activities | (10,541) | (3,744) | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | (48) | 3 | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | (73) | 42 | ||
Cash and due from banks at beginning of period | 558 | 409 | ||
Cash and due from banks at end of period | 485 | 451 | ||
Group parent company | ||||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | (44) | (111) | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | 10 | 5 | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | ||
Purchase of investment securities | (9,946) | (3,517) | ||
Proceeds from sale of investment securities | 0 | 0 | ||
Investments in subsidiaries and other investments | 0 | (5) | ||
Proceeds from sale of other investments | 0 | 25 | ||
Maturities of investment securities | 0 | 0 | ||
(Increase)/decrease in loans | 0 | 0 | ||
Proceeds from sale of loans | 0 | 0 | ||
Capital expenditures for premises and equipment and other intangible assets | 0 | 0 | ||
Proceeds from sale of premises and equipment and other intangible assets | 0 | 0 | ||
Other, net | 0 | 0 | ||
Net cash provided by/(used in) investing activities | (9,936) | (3,492) | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | (529) | 405 | ||
Increase/(decrease) in short-term borrowings | 0 | 0 | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | ||
Issuances of long-term debt | 10,946 | 4,217 | ||
Repayments of long-term debt | 0 | 0 | ||
Sale of treasury shares | 0 | 3 | ||
Repurchase of treasury shares | (488) | (1,013) | ||
Dividends paid/capital repayments | (358) | (695) | ||
Other, net | 425 | 626 | ||
Net cash provided by/(used in) financing activities | 9,996 | 3,543 | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | 0 | 0 | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | 16 | (60) | ||
Cash and due from banks at beginning of period | 277 | 324 | [1] | |
Cash and due from banks at end of period | 293 | 264 | [1] | |
Bank | ||||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | (2,721) | (2,502) | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | (471) | 237 | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (899) | 2,920 | ||
Purchase of investment securities | (259) | (307) | ||
Proceeds from sale of investment securities | 626 | 4 | ||
Investments in subsidiaries and other investments | (71) | (147) | ||
Proceeds from sale of other investments | 413 | 568 | ||
Maturities of investment securities | 51 | 394 | ||
(Increase)/decrease in loans | (3,002) | (11,065) | ||
Proceeds from sale of loans | 2,319 | 2,460 | ||
Capital expenditures for premises and equipment and other intangible assets | (484) | (471) | ||
Proceeds from sale of premises and equipment and other intangible assets | 23 | 29 | ||
Other, net | 88 | 222 | ||
Net cash provided by/(used in) investing activities | (1,666) | (5,156) | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 9,595 | 4,909 | ||
Increase/(decrease) in short-term borrowings | 401 | 3,891 | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 3,707 | (4,856) | ||
Issuances of long-term debt | 41,092 | 14,659 | ||
Repayments of long-term debt | (19,814) | (18,604) | ||
Sale of treasury shares | 0 | 0 | ||
Repurchase of treasury shares | 0 | 0 | ||
Dividends paid/capital repayments | (10) | (11) | ||
Other, net | 459 | 280 | ||
Net cash provided by/(used in) financing activities | 35,430 | 268 | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | (795) | (150) | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | 30,248 | (7,540) | ||
Cash and due from banks at beginning of period | [2] | 101,044 | 99,314 | |
Cash and due from banks at end of period | [2] | 131,292 | 91,774 | |
Bank | Credit Suisse (USA), Inc - Consolidated | ||||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | 6,975 | 738 | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | 1 | 12 | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (11,129) | (3,428) | ||
Purchase of investment securities | 0 | 0 | ||
Proceeds from sale of investment securities | 0 | 0 | ||
Investments in subsidiaries and other investments | (7) | (40) | ||
Proceeds from sale of other investments | 60 | 317 | ||
Maturities of investment securities | 0 | 0 | ||
(Increase)/decrease in loans | (331) | (419) | ||
Proceeds from sale of loans | 0 | 0 | ||
Capital expenditures for premises and equipment and other intangible assets | (143) | (144) | ||
Proceeds from sale of premises and equipment and other intangible assets | 0 | 0 | ||
Other, net | 6 | 40 | ||
Net cash provided by/(used in) investing activities | (11,543) | (3,662) | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 19 | 37 | ||
Increase/(decrease) in short-term borrowings | (2,222) | (228) | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 2,470 | (228) | ||
Issuances of long-term debt | 115,410 | 106,285 | ||
Repayments of long-term debt | (110,990) | (102,644) | ||
Sale of treasury shares | 0 | 0 | ||
Repurchase of treasury shares | 0 | 0 | ||
Dividends paid/capital repayments | 0 | (1) | ||
Other, net | (30) | (126) | ||
Net cash provided by/(used in) financing activities | 4,657 | 3,095 | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | (53) | (24) | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | 36 | 147 | ||
Cash and due from banks at beginning of period | 2,642 | 2,540 | ||
Cash and due from banks at end of period | 2,678 | 2,687 | ||
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | ||||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | (9,696) | (3,240) | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | (472) | 225 | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 10,230 | 6,348 | ||
Purchase of investment securities | (259) | (307) | ||
Proceeds from sale of investment securities | 626 | 4 | ||
Investments in subsidiaries and other investments | (64) | (107) | ||
Proceeds from sale of other investments | 353 | 251 | ||
Maturities of investment securities | 51 | 394 | ||
(Increase)/decrease in loans | (2,671) | (10,646) | ||
Proceeds from sale of loans | 2,319 | 2,460 | ||
Capital expenditures for premises and equipment and other intangible assets | (341) | (327) | ||
Proceeds from sale of premises and equipment and other intangible assets | 23 | 29 | ||
Other, net | 82 | 182 | ||
Net cash provided by/(used in) investing activities | 9,877 | (1,494) | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 9,576 | 4,872 | ||
Increase/(decrease) in short-term borrowings | 2,623 | 4,119 | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 1,237 | (4,628) | ||
Issuances of long-term debt | (74,318) | (91,626) | ||
Repayments of long-term debt | 91,176 | 84,040 | ||
Sale of treasury shares | 0 | 0 | ||
Repurchase of treasury shares | 0 | 0 | ||
Dividends paid/capital repayments | (10) | (10) | ||
Other, net | 489 | 406 | ||
Net cash provided by/(used in) financing activities | 30,773 | (2,827) | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | (742) | (126) | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | 30,212 | (7,687) | ||
Cash and due from banks at beginning of period | 98,402 | 96,774 | ||
Cash and due from banks at end of period | 128,614 | 89,087 | ||
Group Parent company - subsidiary that holds a banking license | Group parent company | ||||
Net increase/(decrease) in cash and due from banks | ||||
Dividend income from investments | 10 | 10 | ||
Group Parent company - subsidiary that doesn't hold a banking license | Group parent company | ||||
Net increase/(decrease) in cash and due from banks | ||||
Dividend income from investments | SFr 8 | SFr 14 | ||
[1] | Includes restricted cash. | |||
[2] | Includes restricted cash. |