Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2021 | |
Entity Information [Line Items] | |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2021 |
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 | 2021 |
Document Fiscal Period Focus | Q2 |
Bank | |
Entity Information [Line Items] | |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2021 |
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 | 2021 |
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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Interest and dividend income | SFr 2,879 | SFr 3,055 | SFr 3,589 | SFr 5,934 | SFr 7,884 |
Interest expense | (1,463) | (1,401) | (2,019) | (2,864) | (4,780) |
Net interest income | 1,416 | 1,654 | 1,570 | 3,070 | 3,104 |
Commissions and fees | 3,158 | 3,737 | 2,880 | 6,895 | 5,807 |
Trading revenues | 153 | 1,811 | 1,254 | 1,964 | 2,181 |
Other revenues | 376 | 372 | 490 | 748 | 878 |
Net revenues | 5,103 | 7,574 | 6,194 | 12,677 | 11,970 |
Provision for credit losses | (25) | 4,394 | 296 | 4,369 | 864 |
Compensation and benefits | 2,356 | 2,207 | 2,594 | 4,563 | 4,910 |
General and administrative expenses | 1,589 | 1,376 | 1,440 | 2,965 | 2,786 |
Commission expenses | 325 | 329 | 313 | 654 | 658 |
Restructuring expenses | 45 | 25 | 70 | ||
Total other operating expenses | 1,959 | 1,730 | 1,753 | 3,689 | 3,444 |
Total operating expenses | 4,315 | 3,937 | 4,347 | 8,252 | 8,354 |
Income/(loss) before taxes | 813 | (757) | 1,551 | 56 | 2,752 |
Income tax expense/(benefit) | 566 | (526) | 391 | 40 | 281 |
Net income/(loss) | 247 | (231) | 1,160 | 16 | 2,471 |
Net income/(loss) attributable to noncontrolling interests | (6) | 21 | (2) | 15 | (5) |
Net income/(loss) attributable to shareholders | SFr 253 | SFr (252) | SFr 1,162 | SFr 1 | SFr 2,476 |
Basic earnings per share (CHF) | |||||
Basic earnings/(loss) per share (in CHF per share) | SFr 0.10 | SFr (0.10) | SFr 0.47 | SFr 0 | SFr 1 |
Diluted earnings per share (CHF) | |||||
Diluted earnings/(loss) per share (in CHF per share) | SFr 0.10 | SFr (0.10) | SFr 0.46 | SFr 0 | SFr 0.98 |
Bank | |||||
Interest and dividend income | SFr 5,908 | SFr 7,867 | |||
Interest expense | (2,795) | (4,763) | |||
Net interest income | 3,113 | 3,104 | |||
Commissions and fees | 6,926 | 5,816 | |||
Trading revenues | 1,924 | 2,105 | |||
Other revenues | 919 | 990 | |||
Net revenues | 12,882 | 12,015 | |||
Provision for credit losses | 4,373 | 860 | |||
Compensation and benefits | 4,096 | 4,420 | |||
General and administrative expenses | 3,664 | 3,495 | |||
Commission expenses | 654 | 658 | |||
Restructuring expenses | 80 | ||||
Total other operating expenses | 4,398 | 4,153 | |||
Total operating expenses | 8,494 | 8,573 | |||
Income/(loss) before taxes | 15 | 2,582 | |||
Income tax expense/(benefit) | 6 | 244 | |||
Net income/(loss) | 9 | 2,338 | |||
Net income/(loss) attributable to noncontrolling interests | (103) | 4 | |||
Net income/(loss) attributable to shareholders | SFr 112 | SFr 2,334 |
Consolidated statements of comp
Consolidated statements of comprehensive income - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Comprehensive income | |||||
Net income/(loss) | SFr 247 | SFr (231) | SFr 1,160 | SFr 16 | SFr 2,471 |
Gains/(losses) on cash flow hedges | (41) | (103) | 18 | (144) | 243 |
Foreign currency translation | (472) | 2,005 | (433) | 1,533 | (1,029) |
Unrealized gains/(losses) on securities | 0 | 0 | (18) | 0 | (20) |
Actuarial gains/(losses) | (11) | 65 | 73 | 54 | 146 |
Net prior service cost | (24) | (24) | (34) | (48) | (68) |
Gains/(losses) on liabilities related to credit risk | (483) | 551 | (2,658) | 68 | 1,692 |
Other comprehensive income/(loss), net of tax | (1,031) | 2,494 | (3,052) | 1,463 | 964 |
Comprehensive income/(loss) | (784) | 2,263 | (1,892) | 1,479 | 3,435 |
Comprehensive income/(loss) attributable to noncontrolling interests | (7) | 32 | (2) | 25 | (6) |
Comprehensive income/(loss) attributable to shareholders | SFr (777) | SFr 2,231 | SFr (1,890) | 1,454 | 3,441 |
Bank | |||||
Comprehensive income | |||||
Net income/(loss) | 9 | 2,338 | |||
Gains/(losses) on cash flow hedges | (143) | 243 | |||
Foreign currency translation | 1,510 | (1,010) | |||
Unrealized gains/(losses) on securities | 0 | (20) | |||
Actuarial gains/(losses) | (87) | 6 | |||
Gains/(losses) on liabilities related to credit risk | 72 | 1,614 | |||
Other comprehensive income/(loss), net of tax | 1,352 | 833 | |||
Comprehensive income/(loss) | 1,361 | 3,171 | |||
Comprehensive income/(loss) attributable to noncontrolling interests | (68) | (9) | |||
Comprehensive income/(loss) attributable to shareholders | SFr 1,429 | SFr 3,180 |
Consolidated balance sheets
Consolidated balance sheets - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | ||||
Assets | |||||||
Cash and due from banks | SFr 146,358 | [1] | SFr 133,285 | SFr 139,112 | [1] | ||
of which reported at fair value | 141 | 91 | 525 | ||||
Interest-bearing deposits with banks | 1,313 | 1,447 | 1,298 | ||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 94,645 | 91,121 | 79,133 | ||||
of which reported at fair value | 69,465 | 67,268 | 57,994 | ||||
Securities received as collateral, at fair value | 38,686 | 56,494 | 50,773 | ||||
of which encumbered | 17,349 | 28,878 | 27,614 | ||||
Trading assets, at fair value | 130,505 | 157,139 | 157,338 | ||||
of which encumbered | 37,709 | 50,100 | 54,990 | ||||
Total investment securities | 794 | 614 | 607 | ||||
of which reported at fair value | 794 | 614 | 607 | ||||
Other investments | 4,578 | 5,640 | 5,412 | ||||
of which reported at fair value | 2,747 | 3,937 | 3,794 | ||||
Net loans | 299,844 | 304,188 | 291,908 | ||||
of which reported at fair value | 11,101 | 11,827 | 11,408 | ||||
of which encumbered | 79 | 0 | 179 | ||||
Allowance for credit losses | (1,412) | (1,527) | (1,536) | ||||
Goodwill | 4,588 | 4,644 | 4,426 | ||||
Other intangible assets | 245 | 239 | 237 | ||||
of which reported at fair value | 189 | 181 | 180 | ||||
Brokerage receivables | 33,072 | 47,682 | 35,941 | ||||
Brokerage receivables, Allowance for credit losses | (4,429) | (36) | (1) | ||||
Other assets | 42,171 | 48,902 | 39,637 | ||||
of which reported at fair value | 10,342 | 15,033 | 8,373 | ||||
of which encumbered | 17 | 0 | 167 | ||||
of which loans held-for-sale reported at lower of cost and market value (amortized cost base) | 467 | 494 | 650 | ||||
Other assets, Allowance for credit losses | (41) | (4,447) | (43) | ||||
Total assets | 796,799 | 851,395 | 805,822 | ||||
Liabilities and equity | |||||||
Due to banks | 20,948 | 19,422 | 16,423 | ||||
of which reported at fair value | 330 | 800 | 413 | ||||
Customer deposits | 397,298 | 406,069 | 390,921 | ||||
of which reported at fair value | 3,921 | 4,221 | 4,343 | ||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 20,924 | 22,853 | 23,851 | ||||
of which reported at fair value | 10,983 | 9,591 | 13,594 | ||||
Obligation to return securities received as collateral, at fair value | 38,686 | 56,494 | 50,773 | ||||
Trading liabilities, at fair value | 32,972 | 47,740 | 45,871 | ||||
Short-term borrowings | 22,366 | 24,887 | 20,868 | ||||
of which reported at fair value | 8,554 | 11,020 | 10,740 | ||||
Long-term debt | 170,227 | 170,453 | 161,087 | ||||
of which reported at fair value | 69,436 | 72,312 | 70,976 | ||||
Brokerage payables | 20,432 | 26,890 | 21,653 | ||||
Other liabilities | 29,071 | 31,703 | 31,434 | ||||
of which reported at fair value | 7,911 | 7,913 | 7,780 | ||||
Total liabilities | 752,924 | 806,511 | 762,881 | ||||
Common shares | 106 | 98 | 98 | ||||
Additional paid-in capital | 34,633 | 33,523 | 33,323 | ||||
Retained earnings | 32,715 | 32,582 | 32,834 | ||||
Treasury shares, at cost | (2,177) | (946) | (428) | ||||
Accumulated other comprehensive income/(loss) | (21,697) | (20,667) | (23,150) | ||||
Total shareholders' equity | 43,580 | 44,590 | 42,677 | ||||
Noncontrolling interests | 295 | 294 | 264 | ||||
Total equity | 43,875 | 44,884 | 42,941 | ||||
Total liabilities and equity | SFr 796,799 | SFr 851,395 | SFr 805,822 | ||||
Additional share information | |||||||
Par value (in CHF per share) | SFr 0.04 | SFr 0.04 | SFr 0.04 | ||||
Authorized shares (in shares) | [2] | 3,100,747,720 | 3,100,747,720 | 3,100,747,720 | |||
Issued shares (in shares) | 2,650,747,720 | 2,447,747,720 | 2,447,747,720 | ||||
Treasury shares (in shares) | 239,479,336 | 83,737,482 | 41,602,841 | ||||
Common shares outstanding (in shares) | 2,411,268,384 | [3] | 2,364,010,238 | [4] | 2,406,144,879 | ||
Consolidated VIEs | |||||||
Assets | |||||||
Cash and due from banks | SFr 247 | SFr 90 | SFr 90 | ||||
Trading assets, at fair value | 1,916 | 2,146 | 2,164 | ||||
Other investments | 1,231 | 1,273 | 1,251 | ||||
Net loans | 686 | 772 | 900 | ||||
Other assets | 1,488 | 1,581 | 1,876 | ||||
Total assets | 5,568 | 6,281 | |||||
Liabilities and equity | |||||||
Customer deposits | 1 | 0 | 1 | ||||
Trading liabilities, at fair value | 9 | 11 | 10 | ||||
Short-term borrowings | 6,484 | 4,377 | 4,178 | ||||
Long-term debt | 1,319 | 1,568 | 1,746 | ||||
Other liabilities | 237 | SFr 240 | 208 | ||||
Total liabilities | 8,050 | 6,143 | |||||
Bank | |||||||
Assets | |||||||
Cash and due from banks | [5] | 145,367 | 138,207 | ||||
of which reported at fair value | 141 | 525 | |||||
Interest-bearing deposits with banks | 1,245 | 1,230 | |||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 94,645 | 79,133 | |||||
of which reported at fair value | 69,465 | 57,994 | |||||
Securities received as collateral, at fair value | 38,686 | 50,773 | |||||
of which encumbered | 17,349 | 27,614 | |||||
Trading assets, at fair value | 130,684 | 157,511 | |||||
of which encumbered | 37,709 | 54,990 | |||||
Total investment securities | 792 | 605 | |||||
of which reported at fair value | 792 | 605 | |||||
Other investments | 4,543 | 5,379 | |||||
of which reported at fair value | 2,746 | 3,793 | |||||
Net loans | 308,159 | 300,341 | |||||
of which reported at fair value | 11,101 | 11,408 | |||||
of which encumbered | 79 | 179 | |||||
Allowance for credit losses | (1,411) | (1,535) | |||||
Goodwill | 3,901 | 3,755 | |||||
Other intangible assets | 245 | 237 | |||||
of which reported at fair value | 189 | 180 | |||||
Brokerage receivables | 33,074 | 35,943 | |||||
Brokerage receivables, Allowance for credit losses | (4,429) | (1) | |||||
Other assets | 38,779 | 36,574 | |||||
of which reported at fair value | 10,342 | 8,373 | |||||
of which encumbered | 17 | 167 | |||||
of which loans held-for-sale reported at lower of cost and market value (amortized cost base) | 467 | 650 | |||||
Other assets, Allowance for credit losses | (39) | (41) | |||||
Total assets | 800,120 | 809,688 | |||||
Liabilities and equity | |||||||
Due to banks | 20,948 | 16,420 | |||||
of which reported at fair value | 330 | 413 | |||||
Customer deposits | 398,323 | 392,039 | |||||
of which reported at fair value | 3,921 | 4,343 | |||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 21,020 | 23,944 | |||||
of which reported at fair value | 11,080 | 13,688 | |||||
Obligation to return securities received as collateral, at fair value | 38,686 | 50,773 | |||||
Trading liabilities, at fair value | 32,971 | 45,871 | |||||
Short-term borrowings | 26,219 | 21,308 | |||||
of which reported at fair value | 8,554 | 10,740 | |||||
Long-term debt | 164,292 | 160,279 | |||||
of which reported at fair value | 68,486 | 70,243 | |||||
Brokerage payables | 20,434 | 21,655 | |||||
Other liabilities | 27,935 | 30,340 | |||||
of which reported at fair value | 7,891 | 7,756 | |||||
Total liabilities | 750,828 | 762,629 | |||||
Common shares | 4,400 | 4,400 | |||||
Additional paid-in capital | 47,111 | 46,232 | |||||
Retained earnings | 15,973 | 15,871 | |||||
Accumulated other comprehensive income/(loss) | (18,922) | (20,239) | |||||
Total shareholders' equity | 48,562 | 46,264 | |||||
Noncontrolling interests | 730 | 795 | |||||
Total equity | 49,292 | 47,059 | |||||
Total liabilities and equity | SFr 800,120 | SFr 809,688 | |||||
Additional share information | |||||||
Par value (in CHF per share) | [6] | SFr 1 | SFr 1 | ||||
Issued shares (in shares) | [6] | 4,399,680,200 | 4,399,680,200 | ||||
Common shares outstanding (in shares) | [6] | 4,399,680,200 | 4,399,680,200 | ||||
Bank | Consolidated VIEs | |||||||
Assets | |||||||
Cash and due from banks | SFr 247 | SFr 90 | |||||
Trading assets, at fair value | 1,916 | 2,164 | |||||
Other investments | 1,231 | 1,251 | |||||
Net loans | 686 | 900 | |||||
Other assets | 1,454 | 1,858 | |||||
Total assets | 5,534 | 6,263 | |||||
Liabilities and equity | |||||||
Customer deposits | 1 | 1 | |||||
Trading liabilities, at fair value | 9 | 10 | |||||
Short-term borrowings | 4,729 | 4,178 | |||||
Long-term debt | 1,319 | 1,746 | |||||
Other liabilities | 231 | 207 | |||||
Total liabilities | SFr 6,289 | SFr 6,142 | |||||
[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 450,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments. | ||||||
[4] | 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. | ||||||
[5] | Includes restricted cash. | ||||||
[6] | The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2021. 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 | 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 | BankNoncontrolling interests | |||||||
Balance at Dec. 31, 2019 | SFr 43,714 | SFr (132) | SFr 43,644 | SFr (132) | SFr 102 | SFr 34,661 | SFr 30,634 | SFr (132) | SFr (1,484) | SFr (20,269) | SFr 70 | SFr 46,763 | SFr (132) | SFr 46,120 | SFr (132) | SFr 4,400 | SFr 45,774 | SFr 13,492 | SFr (132) | SFr 0 | SFr (17,546) | SFr 643 | |||||||
Increase (decrease) in shareholders' equity | |||||||||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (8) | (8) | (8) | (8) | |||||||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 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 | (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 | (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 | (4) | (4) | |||||||||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 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) | ||||||||||||||||||||||||||
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 | (188) | ||||||||||||||||||||||||||||
Change in scope of consolidation, net | 215 | 215 | |||||||||||||||||||||||||||
Other | 6 | 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 | (16,700) | 886 | |||||||||||||
Balance at Dec. 31, 2020 | 42,941 | 42,677 | 98 | 33,323 | 32,834 | (428) | (23,150) | 264 | 47,059 | 46,264 | 4,400 | 46,232 | 15,871 | 0 | [1] | (20,239) | 795 | ||||||||||||
Increase (decrease) in shareholders' equity | |||||||||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (7) | (7) | |||||||||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 5 | 5 | |||||||||||||||||||||||||||
Net income/(loss) | (231) | (252) | (252) | 21 | |||||||||||||||||||||||||
Total other comprehensive income/(loss), net of tax | 2,494 | 2,483 | 2,483 | 11 | |||||||||||||||||||||||||
Sale of treasury shares | 6,766 | 6,766 | (4) | 6,770 | |||||||||||||||||||||||||
Repurchase of treasury shares | (7,335) | (7,335) | (7,335) | ||||||||||||||||||||||||||
Share-based compensation, net of tax | 251 | 251 | 204 | 47 | |||||||||||||||||||||||||
Balance at Mar. 31, 2021 | 44,884 | 44,590 | 98 | 33,523 | 32,582 | (946) | (20,667) | 294 | |||||||||||||||||||||
Balance at Dec. 31, 2020 | 42,941 | 42,677 | 98 | 33,323 | 32,834 | (428) | (23,150) | 264 | 47,059 | 46,264 | 4,400 | 46,232 | 15,871 | 0 | [1] | (20,239) | 795 | ||||||||||||
Increase (decrease) in shareholders' equity | |||||||||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (23) | [2],[3] | (23) | [2],[3] | (24) | [4],[5] | (24) | [4],[5] | |||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 10 | [3] | 10 | [3] | 10 | [5] | 10 | [5] | |||||||||||||||||||||
Net income/(loss) | 16 | 1 | 1 | 15 | 9 | 112 | 112 | (103) | |||||||||||||||||||||
Total other comprehensive income/(loss), net of tax | 1,463 | 1,453 | 1,453 | 10 | 1,352 | 1,317 | 1,317 | 35 | |||||||||||||||||||||
Issuance of common shares | 0 | 8 | 1,748 | (1,756) | [6] | ||||||||||||||||||||||||
Other activities relating to the issuance of common shares | 1 | 1 | 1 | ||||||||||||||||||||||||||
Sale of treasury shares | 11,663 | 11,663 | (14) | 11,677 | |||||||||||||||||||||||||
Repurchase of treasury shares | (12,279) | (12,279) | (12,279) | ||||||||||||||||||||||||||
Share-based compensation, net of tax | 349 | 349 | (259) | 608 | (175) | (175) | (175) | ||||||||||||||||||||||
Dividends on share-based compensation, net of tax | (15) | (15) | (15) | ||||||||||||||||||||||||||
Dividends paid | (257) | (256) | (120) | (11) | (10) | (10) | |||||||||||||||||||||||
Dividends paid out of reserves from capital contributions | [7] | (136) | |||||||||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (1) | (1) | |||||||||||||||||||||||||||
Change in scope of consolidation, net | 20 | 20 | 20 | 20 | |||||||||||||||||||||||||
Other | (29) | (29) | (29) | 1,067 | 1,069 | 1,069 | (2) | ||||||||||||||||||||||
Balance at Jun. 30, 2021 | 43,875 | 43,580 | 106 | 34,633 | 32,715 | (2,177) | (21,697) | 295 | 49,292 | 48,562 | 4,400 | 47,111 | 15,973 | 0 | [1] | (18,922) | 730 | ||||||||||||
Balance at Mar. 31, 2021 | 44,884 | 44,590 | 98 | 33,523 | 32,582 | (946) | (20,667) | 294 | |||||||||||||||||||||
Increase (decrease) in shareholders' equity | |||||||||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | [8],[9] | (16) | (16) | ||||||||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | [9] | 5 | 5 | ||||||||||||||||||||||||||
Net income/(loss) | 247 | 253 | 253 | (6) | |||||||||||||||||||||||||
Total other comprehensive income/(loss), net of tax | (1,031) | (1,030) | (1,030) | (1) | |||||||||||||||||||||||||
Issuance of common shares | 0 | 8 | 1,748 | (1,756) | [10] | ||||||||||||||||||||||||
Other activities relating to the issuance of common shares | 1 | 1 | 1 | ||||||||||||||||||||||||||
Sale of treasury shares | 4,897 | 4,897 | (10) | 4,907 | |||||||||||||||||||||||||
Repurchase of treasury shares | (4,944) | (4,944) | (4,944) | ||||||||||||||||||||||||||
Share-based compensation, net of tax | 98 | 98 | (463) | 561 | |||||||||||||||||||||||||
Dividends paid | (257) | (256) | (120) | ||||||||||||||||||||||||||
Dividends paid out of reserves from capital contributions | [11] | (136) | |||||||||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (1) | ||||||||||||||||||||||||||||
Change in scope of consolidation, net | 20 | 20 | |||||||||||||||||||||||||||
Other | (29) | (29) | (29) | ||||||||||||||||||||||||||
Balance at Jun. 30, 2021 | SFr 43,875 | SFr 43,580 | SFr 106 | SFr 34,633 | SFr 32,715 | SFr (2,177) | SFr (21,697) | SFr 295 | SFr 49,292 | SFr 48,562 | SFr 4,400 | SFr 47,111 | SFr 15,973 | SFr 0 | [1] | SFr (18,922) | SFr 730 | ||||||||||||
[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] | Reflects the issuance of mandatory convertible notes in May 2021. | ||||||||||||||||||||||||||||
[7] | Paid out of capital contribution reserves. | ||||||||||||||||||||||||||||
[8] | Distributions to owners in funds include the return of original capital invested and any related dividends. | ||||||||||||||||||||||||||||
[9] | Transactions with and without ownership changes related to fund activity are all displayed under "not changing ownership". | ||||||||||||||||||||||||||||
[10] | Reflects the issuance of mandatory convertible notes in May 2021. | ||||||||||||||||||||||||||||
[11] | 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, 2021 | Jun. 30, 2020 | ||
Operating activities of continuing operations | |||
Net income/(loss) | SFr 16 | SFr 2,471 | |
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities of continuing operations | |||
Impairment, depreciation and amortization | 706 | 660 | |
Provision for credit losses | 4,369 | 864 | |
Deferred tax provision/(benefit) | (302) | 134 | |
Valuation adjustments related to long-term debt | 1,909 | 266 | |
Share of net income/(loss) from equity method investments | (73) | (42) | |
Trading assets and liabilities, net | 20,519 | 458 | |
(Increase)/decrease in other assets | (839) | (12,759) | |
Increase/(decrease) in other liabilities | (5,389) | 5,355 | |
Other, net | (241) | 38 | |
Total adjustments | 20,659 | (5,026) | |
Net cash provided by/(used in) operating activities | 20,675 | (2,555) | |
Investing activities of continuing operations | |||
(Increase)/decrease in interest-bearing deposits with banks | 9 | (411) | |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (11,851) | (899) | |
Purchase of investment securities | (213) | (259) | |
Proceeds from sale of investment securities | 0 | 626 | |
Maturities of investment securities | 25 | 51 | |
Investments in subsidiaries and other investments | (288) | (71) | |
Proceeds from sale of other investments | 940 | 413 | |
(Increase)/decrease in loans | (6,785) | (2,623) | |
Proceeds from sale of loans | 2,216 | 2,319 | |
Capital expenditures for premises and equipment and other intangible assets | (622) | (553) | |
Proceeds from sale of premises and equipment and other intangible assets | 2 | 23 | |
Other, net | 49 | 88 | |
Net cash provided by/(used in) investing activities | (16,518) | (1,296) | |
Financing activities of continuing operations | |||
Increase/(decrease) in due to banks and customer deposits | 3,512 | 9,657 | |
Increase/(decrease) in short-term borrowings | 170 | (152) | |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (3,931) | 3,718 | |
Issuances of long-term debt | 29,405 | 41,339 | |
Repayments of long-term debt | (27,321) | (19,814) | |
Sale of treasury shares | 11,664 | 4,003 | |
Repurchase of treasury shares | (12,279) | (4,499) | |
Dividends paid/capital repayments | (257) | (358) | |
Other, net | 269 | 991 | |
Net cash provided by/(used in) financing activities | 1,232 | 34,885 | |
Effect of exchange rate changes on cash and due from banks | |||
Effect of exchange rate changes on cash and due from banks | 1,857 | (843) | |
Net increase/(decrease) in cash and due from banks | |||
Net increase/(decrease) in cash and due from banks | 7,246 | 30,191 | |
Cash and due from banks at beginning of period | [1] | 139,112 | 101,879 |
Cash and due from banks at end of period | [1] | 146,358 | 132,070 |
Cash paid for income taxes and interest | |||
Cash paid for income taxes | 429 | 464 | |
Cash paid for interest | 3,223 | 5,066 | |
Bank | |||
Operating activities of continuing operations | |||
Net income/(loss) | 9 | 2,338 | |
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities of continuing operations | |||
Impairment, depreciation and amortization | 623 | 580 | |
Provision for credit losses | 4,373 | 860 | |
Deferred tax provision/(benefit) | (322) | 110 | |
Valuation adjustments related to long-term debt | 2,050 | 441 | |
Share of net income/(loss) from equity method investments | (72) | (41) | |
Trading assets and liabilities, net | 20,552 | 377 | |
(Increase)/decrease in other assets | (517) | (12,052) | |
Increase/(decrease) in other liabilities | (5,441) | 5,053 | |
Other, net | (234) | (387) | |
Total adjustments | 21,012 | (5,059) | |
Net cash provided by/(used in) operating activities | 21,021 | (2,721) | |
Investing activities of continuing operations | |||
(Increase)/decrease in interest-bearing deposits with banks | 9 | (471) | |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (11,851) | (899) | |
Purchase of investment securities | (213) | (259) | |
Proceeds from sale of investment securities | 0 | 626 | |
Maturities of investment securities | 25 | 51 | |
Investments in subsidiaries and other investments | (288) | (71) | |
Proceeds from sale of other investments | 949 | 413 | |
(Increase)/decrease in loans | (6,636) | (3,002) | |
Proceeds from sale of loans | 2,216 | 2,319 | |
Capital expenditures for premises and equipment and other intangible assets | (550) | (484) | |
Proceeds from sale of premises and equipment and other intangible assets | 2 | 23 | |
Other, net | 51 | 88 | |
Net cash provided by/(used in) investing activities | (16,286) | (1,666) | |
Financing activities of continuing operations | |||
Increase/(decrease) in due to banks and customer deposits | 3,411 | 9,595 | |
Increase/(decrease) in short-term borrowings | 3,583 | 401 | |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (3,932) | 3,707 | |
Issuances of long-term debt | 24,155 | 41,092 | |
Repayments of long-term debt | (27,321) | (19,814) | |
Dividends paid/capital repayments | (11) | (10) | |
Other, net | 719 | 459 | |
Net cash provided by/(used in) financing activities | 604 | 35,430 | |
Effect of exchange rate changes on cash and due from banks | |||
Effect of exchange rate changes on cash and due from banks | 1,821 | (795) | |
Net increase/(decrease) in cash and due from banks | |||
Net increase/(decrease) in cash and due from banks | 7,160 | 30,248 | |
Cash and due from banks at beginning of period | [2] | 138,207 | 101,044 |
Cash and due from banks at end of period | [2] | 145,367 | 131,292 |
Cash paid for income taxes and interest | |||
Cash paid for income taxes | 417 | 443 | |
Cash paid for interest | SFr 3,150 | SFr 4,954 | |
[1] | Includes restricted cash. | ||
[2] | Includes restricted cash. |
Summary of significant accounti
Summary of significant accounting policies | 6 Months Ended |
Jun. 30, 2021 | |
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, 2020 included in the Credit Suisse Annual Report 2020. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for a description of the Group’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 1Q21 consolidated statements of operations and comprehensive income, the 1Q21 consolidated balance sheet and the 1Q21 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, 2020, included in the Credit Suisse Group AG & Credit Suisse AG Annual Report 2020 (Credit Suisse Annual Report 2020). In addition, these condensed consolidated financial statements make references to the Group’s condensed consolidated financial statements in its 2Q21 and 1Q21 Financial Reports and the Group’s consolidated financial statements in the Credit Suisse Annual Report 2020. > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2020 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, 2021 | |
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 2020 for a description of accounting standards adopted in 2020. ASC Topic 740 – Income Taxes In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12, “Simplifying the Accounting for Income Taxes” (ASU 2019-12), an update to Accounting Standards Codification (ASC) Topic 740 – Income Taxes. The amendments in ASU 2019-12 eliminated 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 included clarification and simplification of other aspects of the accounting for income taxes. The amendments were effective for annual reporting periods beginning after December 15, 2020 and for the interim periods within those annual reporting periods. Early adoption was permitted, including in an interim period. The adoption of ASU 2019-12 on January 1, 2021 did not have a material impact on the Group’s financial position, results of operations or 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 provided 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 were elective and applied to contracts, hedging relationships and other transactions that reference the London Interbank Offered Rate (LIBOR) or other reference rates expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU 2021-01, “Reference Rate Reform, Scope” (ASU 2021-01), which expands the scope of ASC Topic 848 to apply certain optional expedients for contract modifications and hedge accounting provided in ASU 2020-04 to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified for reference rate reform. The guidance also applied to derivatives that do not reference LIBOR or other reference rates that are expected to be discontinued. The amendments may be applied as of March 12, 2020 through December 31, 2022. The Group elected to apply ASU 2020-04 and retrospectively apply ASU 2021-01 during 2020. These elections did not have a material impact 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 III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 for the most recently adopted accounting standards and standards to be adopted in future periods. 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, 2021 | |
Business developments | 3 Business developments and subsequent events Business developments Allfunds Group initial public offering As previously disclosed, during 2019 and 2020 Credit Suisse held an equity investment in Allfunds Group following the transfer of the Group’s open architecture investment fund platform Credit Suisse InvestLab AG to Allfunds Group. On April 23, 2021, Allfunds Group announced a successful IPO on the Euronext Amsterdam exchange with an initial market capitalization of EUR 7.24 billion on the day of the listing. Following the IPO, the Group holds an equity interest in Allfunds Group of 9.4% 14.0% 9.4% Archegos Capital Management As previously reported, the Group recorded a provision for credit losses of CHF 4,430 million in 1Q21 in respect of the failure by Archegos to meet its margin commitments. Certain Group subsidiaries were notified by the fund that it would be unable to return margin advances previously extended and recognized as collateral receivable by the Group. Following the failure of the fund, the Group initiated the process of exiting the fund positions and that process is now complete. Losses related to the exiting of fund positions that were in excess of the margin advances previously extended and recognized as collateral receivable were included in trading revenues. The Group has incurred additional losses with regard to this matter in 2Q21 of CHF 594 million, consisting of CHF 493 million of trading losses as a result of market movements during the process of closing out the fund positions, a provision for credit losses of CHF 70 million and operating expenses of CHF 31 million mainly reflecting severance-related costs and professional services fees. Supply chain finance funds matter As previously reported, in early March 2021, the boards of four supply chain finance funds managed by certain Group subsidiaries (collectively, the SCFFs) decided to suspend redemptions and subscriptions of those funds, to protect the interests of the funds’ investors, to terminate the SCFFs and to proceed to their liquidation. Credit Suisse Asset Management (Schweiz) AG (CSAM) acts as the portfolio manager of the SCFFs. The assets held by the SCFFs largely consist of notes backed by existing and future receivables. These notes were originated and structured by Greensill Capital (UK) Limited or one of its affiliates (Greensill Capital). Greensill Capital filed for insolvency in the UK on March 8, 2021, and the portfolio manager is working closely with the administrators of Greensill Capital, Grant Thornton, and with other parties to facilitate the liquidation of the SCFFs. The last published net asset value of the SCFFs in late February 2021 was approximately USD 10 billion in the aggregate. To date, together with the cash already distributed to investors and cash remaining in the funds, total cash collected in the SCFFs amounts to approximately USD 6.6 billion including the cash position in the funds at the time of suspension. Redemption payments totaling approximately USD 5.5 billion have been made to their investors in three cash distributions, and a fourth cash distribution of approximately USD 0.4 billion, which would bring the total amount returned to investors to approximately USD 5.9 billion. The portfolio manager continues to work to liquidate the remaining assets of the SCFFs, including by engaging directly with potentially delinquent obligors and other creditors as appropriate. However, there remains considerable uncertainty regarding the valuation of a significant part of the remaining assets, including the fact that certain of the notes underlying the funds were not paid when they fell due and the portfolio manager has been informed that further notes will not be paid when they fall due in the future. It therefore can be assumed that the investors of the SCFFs will suffer a loss. CSAM intends to take all necessary steps to collect outstanding amounts from debtors and insurers, but can give no assurance as to the final amount that may be recovered for the SCFFs under such notes. The amount of loss of the investors therefore is currently unknown. Based on currently available information, losses for the investors can be expected to occur predominantly in positions that, prior to March 31, 2021, had a net asset value of approximately USD 2.3 billion in the aggregate. These positions relate primarily to three groups of companies: “GFG Alliance”, Katerra and Bluestone. For these three focus areas, more time is required to assess the situation accurately. CSAM continues to invest substantial efforts to maximize and expedite recovery in these positions, including pursuing consensual restructuring in addition to preparing insurance claims and seeking legal enforcement of the funds’ claims where appropriate. Given the complexity of the situation and negotiations, any predictions on recovery rates for these focus areas would be premature. The Group continues to analyze this matter, including with the assistance of external counsel and other experts. The Board has initiated an externally-led investigation of this matter, which is being supervised by a special committee of the Board. Redemptions and subscriptions of certain other funds managed by CSAM or CSAM subsidiaries that invested in part in the SCFFs were also suspended in early March 2021. The illiquid part of these funds’ assets was subsequently separated into a separate share class to allow for subscriptions and redemptions of the original share classes, reflecting the liquid part of the funds’ assets, to resume as of April 7, 2021. The separate share class reflecting the illiquid assets is in the process of being liquidated, and shareholders receive pro rata payments of the redemption proceeds. With respect to the Group’s outstanding collateralized bridge loan of USD 90 million to Greensill Capital, the Group has marked its fair value down to USD 56 million as of the end of 2Q21, down from USD 60 million as of the end of 1Q21. > Refer to “Risk factor” in I – Credit Suisse results – Credit Suisse in the Credit Suisse Financial Report 1Q21 for further information on risks that may arise in relation to this matter. Mandatory Convertible Notes offering On April 22, 2021, the Group announced that it placed two series of mandatory convertible notes (MCNs), Series A MCNs and Series B MCNs, which will be convertible into 100 million shares and 103 million shares of Credit Suisse Group AG, respectively. The MCNs settled on May 12, 2021. The aggregate principal amount of Series A MCNs issued was CHF 865 million and the aggregate principal amount of Series B MCNs issued was CHF 891 million. The shares of Credit Suisse Group AG underlying the Series A MCNs were issued from Credit Suisse Group AG’s conditional capital. The shares of Credit Suisse Group AG underlying the Series B MCNs were issued from Credit Suisse Group AG’s authorized capital. As of the end of 2Q21, MCNs with a principal value of CHF 924,000 have been early converted into 106,805 shares of Credit Suisse Group AG. The remaining shares of Credit Suisse Group AG are held by Credit Suisse Group (Guernsey) VII Limited, the issuing entity of the MCNs for delivery to holders of MCNs upon conversion of the MCNs. 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 2Q21 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, 2021 | |
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 our Asset Management and Investment Bank divisions. Effective April 1, 2021, the Asset Management business has been separated from the International Wealth Management division and is managed as a new division of the Group. Prior periods have been restated to conform to the current presentation. 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 2020 for further information on segment information, revenue sharing and cost allocation and funding. Net revenues and income/(loss) before taxes in 2Q21 1Q21 2Q20 6M21 6M20 Net revenues (CHF million) Swiss Universal Bank 1,477 1,449 1,474 2,926 2,928 International Wealth Management 930 987 905 1,917 1,937 Asia Pacific 798 1,060 808 1,858 1,643 Asset Management 404 386 361 790 806 Investment Bank 1,610 3,543 2,862 5,153 4,942 Corporate Center (116) 149 (216) 33 (286) Net revenues 5,103 7,574 6,194 12,677 11,970 Income/(loss) before taxes (CHF million) Swiss Universal Bank 725 665 656 1,390 1,187 International Wealth Management 340 408 256 748 601 Asia Pacific 250 524 196 774 414 Asset Management 104 115 84 219 248 Investment Bank (76) (2,467) 912 (2,543) 995 Corporate Center (530) (2) (553) (532) (693) Income/(loss) before taxes 813 (757) 1,551 56 2,752 Total assets end of 2Q21 1Q21 4Q20 Total assets (CHF million) Swiss Universal Bank 265,801 269,089 261,465 International Wealth Management 91,957 90,300 91,503 Asia Pacific 70,569 74,878 67,356 Asset Management 3,591 3,941 3,703 Investment Bank 248,775 292,843 270,488 Corporate Center 116,106 120,344 111,307 Total assets 796,799 851,395 805,822 |
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 2Q21 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 6M21 6M20 Net revenues (CHF million) Swiss Universal Bank 2,926 2,928 International Wealth Management 1,917 1,937 Asia Pacific 1,858 1,643 Asset Management 790 806 Investment Bank 5,153 4,942 Adjustments 1 238 (241) Net revenues 12,882 12,015 Income/(loss) before taxes (CHF million) Swiss Universal Bank 1,390 1,187 International Wealth Management 748 601 Asia Pacific 774 414 Asset Management 219 248 Investment Bank (2,543) 995 Adjustments 1 (573) (863) Income/(loss) before taxes 15 2,582 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 6M21 2020 Total assets (CHF million) Swiss Universal Bank 265,801 261,465 International Wealth Management 91,957 91,503 Asia Pacific 70,569 67,356 Asset Management 3,591 3,703 Investment Bank 248,775 270,488 Adjustments 1 119,427 115,173 Total assets 800,120 809,688 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, 2021 | |
Net interest income | 5 Net interest income in 2Q21 1Q21 2Q20 6M21 6M20 Net interest income (CHF million) Loans 1,277 1,265 1,488 2,542 3,130 Investment securities 0 0 2 0 3 Trading assets 1,109 1,314 1,566 2,423 3,231 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 311 341 391 652 936 Other 182 135 142 317 584 Interest and dividend income 2,879 3,055 3,589 5,934 7,884 Deposits (38) (51) (299) (89) (860) Short-term borrowings (40) (2) (76) (42) (152) Trading liabilities (453) (468) (717) (921) (1,473) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (209) (276) (211) (485) (505) Long-term debt (660) (543) (657) (1,203) (1,541) Other (63) (61) (59) (124) (249) Interest expense (1,463) (1,401) (2,019) (2,864) (4,780) Net interest income 1,416 1,654 1,570 3,070 3,104 |
Bank | |
Net interest income | 5 Net interest income in 6M21 6M20 Net interest income (CHF million) Loans 2,514 3,113 Investment securities 0 3 Trading assets 2,424 3,231 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 652 936 Other 318 584 Interest and dividend income 5,908 7,867 Deposits (84) (857) Short-term borrowings 1 (155) Trading liabilities (921) (1,473) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (485) (505) Long-term debt (1,182) (1,522) Other (124) (251) Interest expense (2,795) (4,763) Net interest income 3,113 3,104 |
Commissions and fees
Commissions and fees | 6 Months Ended |
Jun. 30, 2021 | |
Commissions and fees | 6 Commissions and fees in 2Q21 1Q21 2Q20 6M21 6M20 Commissions and fees (CHF million) Lending business 484 516 361 1,000 797 Investment and portfolio management 891 861 752 1,752 1,562 Other securities business 15 13 18 28 36 Fiduciary business 906 874 770 1,780 1,598 Underwriting 626 989 560 1,615 924 Brokerage 694 909 806 1,603 1,773 Underwriting and brokerage 1,320 1,898 1,366 3,218 2,697 Other services 448 449 383 897 715 Commissions and fees 3,158 3,737 2,880 6,895 5,807 |
Bank | |
Commissions and fees | 6 Commissions and fees in 6M21 6M20 Commissions and fees (CHF million) Lending business 997 786 Investment and portfolio management 1,699 1,508 Other securities business 29 40 Fiduciary business 1,728 1,548 Underwriting 1,664 981 Brokerage 1,624 1,774 Underwriting and brokerage 3,288 2,755 Other services 913 727 Commissions and fees 6,926 5,816 |
Trading revenues
Trading revenues | 6 Months Ended |
Jun. 30, 2021 | |
Trading revenues | 7 Trading revenues in 2Q21 1Q21 2Q20 6M21 6M20 Trading revenues (CHF million) Interest rate products 154 752 1,374 906 (874) Foreign exchange products 358 148 539 506 1,110 Equity/index-related products (117) 1,001 (375) 884 (56) Credit products (271) (33) (682) (304) 1,217 Commodity and energy products (7) 9 69 2 97 Other products 36 (66) 329 (30) 687 Trading revenues 153 1,811 1,254 1,964 2,181 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 2020 for further information on trading revenues and managing trading risks. |
Bank | |
Trading revenues | 7 Trading revenues in 6M21 6M20 Trading revenues (CHF million) Interest rate products 893 (921) Foreign exchange products 497 1,113 Equity/index-related products 868 (88) Credit products (304) 1,217 Commodity and energy products 2 97 Other products (32) 687 Trading revenues 1,924 2,105 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, 2021 | |
Other revenues | 8 Other revenues in 2Q21 1Q21 2Q20 6M21 6M20 Other revenues (CHF million) Noncontrolling interests without SEI 4 (1) 0 3 0 Loans held-for-sale (58) (41) 5 (99) (16) Long-lived assets held-for-sale 3 (2) 6 1 10 Equity method investments 55 29 23 84 59 Other investments 131 199 223 330 451 Other 241 188 233 429 374 Other revenues 376 372 490 748 878 |
Bank | |
Other revenues | 8 Other revenues in 6M21 6M20 Other revenues (CHF million) Loans held-for-sale (99) (16) Long-lived assets held-for-sale 1 10 Equity method investments 84 58 Other investments 332 451 Other 601 487 Other revenues 919 990 |
Provision for credit losses
Provision for credit losses | 6 Months Ended |
Jun. 30, 2021 | |
Provision for credit losses | 9 Provision for credit losses in 2Q21 1Q21 2Q20 6M21 6M20 Provision for credit losses (CHF million) Loans held at amortized cost (28) (24) 264 (52) 691 Other financial assets held at amortized cost 56 1 4,434 1 21 4,490 1 36 Off-balance sheet credit exposures (53) (16) 11 (69) 137 Provision for credit losses (25) 4,394 296 4,369 864 1 Primarily reflects a provision for credit losses of CHF 70 million, CHF 4,430 million and CHF 4,500 million in 2Q21, 1Q21 and 6M21, respectively, related to the failure of Archegos to meet its margin commitments. |
Bank | |
Provision for credit losses | 9 Provision for credit losses in 6M21 6M20 Provision for credit losses (CHF million) Loans held at amortized cost (52) 691 Other financial assets held at amortized cost 4,494 1 32 Off-balance sheet credit exposures (69) 137 Provision for credit losses 4,373 860 1 Primarily reflects a provision for credit losses of CHF 4,500 million related to the failure of Archegos to meet its margin commitments. |
Compensation and benefits
Compensation and benefits | 6 Months Ended |
Jun. 30, 2021 | |
Compensation and benefits | 10 Compensation and benefits in 2Q21 1Q21 2Q20 6M21 6M20 Compensation and benefits (CHF million) Salaries and variable compensation 1,997 1,849 2,234 3,846 4,143 Social security 166 158 172 324 340 Other 1 193 200 188 393 427 Compensation and benefits 2,356 2,207 2,594 4,563 4,910 1 Includes pension-related expenses of CHF 120 million, CHF 130 million, CHF 113 million, CHF 250 million and CHF 263 million in 2Q21 1Q21 2Q20 6M21 6M20 |
Bank | |
Compensation and benefits | 10 Compensation and benefits in 6M21 6M20 Compensation and benefits (CHF million) Salaries and variable compensation 3,449 3,711 Social security 278 293 Other 1 369 416 Compensation and benefits 4,096 4,420 1 Includes pension-related expenses of CHF 250 million and CHF 272 million in 6M21 and 6M20, 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, 2021 | |
General and administrative expenses | 11 General and administrative expenses in 2Q21 1Q21 2Q20 6M21 6M20 General and administrative expenses (CHF million) Occupancy expenses 231 263 237 494 465 IT, machinery and equipment 383 373 357 756 707 Provisions and losses 273 57 133 330 205 Travel and entertainment 32 29 28 61 96 Professional services 454 373 377 827 752 Amortization and impairment of other intangible assets 2 2 1 4 3 Other 1 214 279 307 493 558 General and administrative expenses 1,589 1,376 1,440 2,965 2,786 1 Includes pension-related expenses/(credits) of CHF (42) (52) (40) (94) (80) 2Q21 1Q21 2Q20 6M21 6M20 |
Bank | |
General and administrative expenses | 11 General and administrative expenses in 6M21 6M20 General and administrative expenses (CHF million) Occupancy expenses 449 415 IT, machinery and equipment 597 561 Provisions and losses 330 203 Travel and entertainment 52 85 Professional services 1,609 1,481 Amortization and impairment of other intangible assets 4 3 Other 1 623 747 General and administrative expenses 3,664 3,495 1 Includes pension-related expenses/(credits) of CHF (10) |
Restructuring expenses
Restructuring expenses | 6 Months Ended |
Jun. 30, 2021 | |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | 12 Restructuring expenses In connection with the key strategic growth initiatives announced in July 2020, restructuring expenses of CHF 45 million were recognized in 2Q21. Restructuring expenses may include severance expenses, expenses in connection with the acceleration of certain deferred compensation awards, pension expenses and contract termination costs. The Group completed the one-year restructuring plan in connection with the implementation of the key strategic growth initiatives by the end of June 2021. Restructuring expenses by type in 2Q21 1Q21 2Q20 6M21 6M20 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 2 11 – 13 – of which severance expenses (1) 7 – 6 – of which accelerated deferred compensation 3 4 – 7 – General and administrative-related expenses 43 14 – 57 – of which pension expenses (4) (7) – (11) – Total restructuring expenses 45 25 – 70 – Restructuring liabilities 2Q21 1Q21 2Q20 Compen- General and Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 39 3 42 50 2 52 – – – Net additional charges 1 (1) 26 25 7 10 17 – – – Utilization (16) (26) (42) (18) (9) (27) – – – Balance at end of period 22 3 25 39 3 42 – – – 1 The following items for which expense accretion was accelerated in 2Q21 and 1Q21 due to the restructuring of the Group are not included in the restructuring liabilities: unsettled share-based compensation of CHF 1 million and CHF 1 million, respectively, which remain classified as a component of total shareholders' equity; unsettled pension obligations of CHF (4) (7) Restructuring liabilities (continued) 6M21 6M20 Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 50 2 52 – – – Net additional charges 1 6 36 42 – – – Reclassifications – – – – – – Utilization (34) (35) (69) – – – Balance at end of period 22 3 25 – – – 1 The following items for which expense accretion was accelerated in 6M21 due to the restructuring of the Group are not included in the restructuring liabilities: unsettled share-based compensation of CHF 2 million; unsettled pension obligations of CHF (11) |
Bank | |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | 12 Restructuring expenses In connection with the key strategic growth initiatives announced in July 2020, restructuring expenses of CHF 80 million were recognized in 6M21. Restructuring expenses may include severance expenses, expenses in connection with the acceleration of certain deferred compensation awards, pension expenses and contract termination costs. The Bank completed the one-year restructuring plan in connection with the implementation of the key strategic growth initiatives by the end of June 2021. Restructuring expenses by type in 6M21 6M20 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 14 – of which severance expenses 7 – of which accelerated deferred compensation 7 – General and administrative-related expenses 66 – of which pension expenses 4 – Total restructuring expenses 80 – Restructuring liabilities 6M21 6M20 Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 47 2 49 – – – Net additional charges 1 7 30 37 – – – Reclassifications – – – – – – Utilization (32) (29) (61) – – – Balance at end of period 22 3 25 – – – 1 The following items for which expense accretion was accelerated in 6M21 due to the restructuring of the Bank are not included in the restructuring provision: unsettled share-based compensation of CHF 2 million; unsettled pension obligation related to restructuring of CHF 4 |
Earnings per share
Earnings per share | 6 Months Ended |
Jun. 30, 2021 | |
Earnings per share | 13 Earnings per share in 2Q21 1Q21 2Q20 6M21 6M20 Basic net income/(loss) attributable to shareholders (CHF million) Net income/(loss) attributable to shareholders for basic earnings per share 253 (252) 1,162 1 2,476 Available for common shares 252 (252) 1,162 1 2,476 Available for mandatory convertible notes 1 – – – – Net income/(loss) attributable to shareholders for diluted earnings per share 253 (252) 1,162 1 2,476 Available for common shares 252 (252) 1,162 1 2,476 Available for mandatory convertible notes 1 – – – – Weighted-average shares outstanding (million) For basic earnings per share available for common shares 2,453.9 2,446.6 2,473.6 2,450.3 2,469.7 Dilutive share options and warrants 0.8 0.0 2.6 0.6 2.1 Dilutive share awards 55.1 0.0 35.2 73.6 47.7 For diluted earnings per share available for common shares 1 2,509.8 2,446.6 2 2,511.4 2,524.5 2,519.5 Weighted-average shares outstanding for basic/diluted earnings per share available for mandatory convertible notes 130.8 – – 65.4 – Earnings/(loss) per share available for common shares (CHF) Basic earnings/(loss) per share available for common shares 0.10 (0.10) 0.47 0.00 1.00 Diluted earnings/(loss) per share available for common shares 0.10 (0.10) 0.46 0.00 0.98 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 9.6 million, 6.5 million, 5.3 million, 8.1 million and 4.8 million for 2Q21, 1Q21, 2Q20, 6M21 and 6M20, respectively. 2 Due to the net loss in 1Q21, 0.4 million of weighted-average share options and warrants outstanding and 92.0 million of weighted-average share awards outstanding were excluded from the diluted earnings per share calculation, as the effect would be antidilutive. |
Revenue from contracts with cus
Revenue from contracts with customers | 6 Months Ended |
Jun. 30, 2021 | |
Revenue from Contract with Customer [Text Block] | 14 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 receive 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 2Q21 1Q21 2Q20 6M21 6M20 Contracts with customers (CHF million) Investment and portfolio management 891 861 752 1,752 1,562 Other securities business 15 13 18 28 36 Underwriting 626 989 560 1,615 924 Brokerage 693 908 805 1,601 1,771 Other services 445 448 387 893 724 Total revenues from contracts with customers 2,670 3,219 2,522 5,889 5,017 The table “Contracts with customers and disaggregation of revenues” 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 2Q21 1Q21 4Q20 Contract balances (CHF million) Contract receivables 1,011 1,120 1,001 Contract liabilities 52 65 48 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 18 8 7 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 2Q21, 1Q21 and 4Q20. 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 2020 for further information. |
Bank | |
Revenue from Contract with Customer [Text Block] | 13 Revenue from contracts with customers > Refer to “Note 14 – Revenue from contracts with customers” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 for further information. Contracts with customers and disaggregation of revenues in 6M21 6M20 Contracts with customers (CHF million) Investment and portfolio management 1,699 1,508 Other securities business 29 40 Underwriting 1,664 981 Brokerage 1,623 1,772 Other services 937 774 Total revenues from contracts with customers 5,952 5,075 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 2Q21 1Q21 4Q20 Contract balances (CHF million) Contract receivables 1,032 1,123 993 Contract liabilities 52 65 48 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 18 8 7 There were no material net impairment losses on contract receivables in 6M21 and 6M20. 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 2020 for further information. |
Trading assets and liabilities
Trading assets and liabilities | 6 Months Ended |
Jun. 30, 2021 | |
Trading assets and liabilities | 15 Trading assets and liabilities end of 2Q21 1Q21 4Q20 Trading assets (CHF million) Debt securities 57,620 64,128 64,395 Equity securities 44,226 60,340 63,237 Derivative instruments 1 24,156 28,638 25,531 Other 4,503 4,033 4,175 Trading assets 130,505 157,139 157,338 Trading liabilities (CHF million) Short positions 20,369 31,326 28,126 Derivative instruments 1 12,603 16,414 17,745 Trading liabilities 32,972 47,740 45,871 1 Amounts shown after counterparty and cash collateral netting. Cash collateral on derivative instruments end of 2Q21 1Q21 4Q20 Cash collateral on derivatives instruments – netted (CHF million) 1 Cash collateral paid 21,161 24,630 26,815 Cash collateral received 13,865 13,966 16,795 Cash collateral on derivatives instruments– not netted (CHF million) 2 Cash collateral paid 7,664 8,817 7,741 Cash collateral received 7,200 8,839 7,831 1 Recorded as cash collateral netting on derivative instruments in Note 24 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 21 – Other assets and other liabilities. |
Bank | |
Trading assets and liabilities | 14 Trading assets and liabilities end of 6M21 2020 Trading assets (CHF million) Debt securities 57,739 64,532 Equity securities 44,287 63,273 Derivative instruments 1 24,155 25,531 Other 4,503 4,175 Trading assets 130,684 157,511 Trading liabilities (CHF million) Short positions 20,369 28,126 Derivative instruments 1 12,602 17,745 Trading liabilities 32,971 45,871 1 Amounts shown after counterparty and cash collateral netting. Cash collateral on derivative instruments end of 6M21 2020 Cash collateral on derivative instruments – netted (CHF million) 1 Cash collateral paid 21,162 26,885 Cash collateral received 13,865 16,795 Cash collateral on derivative instruments – not netted (CHF million) 2 Cash collateral paid 7,664 7,741 Cash collateral received 7,209 7,831 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. |
Investment securities
Investment securities | 6 Months Ended |
Jun. 30, 2021 | |
Investment securities | 16 Investment securities end of 2Q21 1Q21 4Q20 Investment securities (CHF million) Debt securities available-for-sale 794 614 607 Total investment securities 794 614 607 Investment securities by type 2Q21 4Q20 Gross Gross Gross Gross Investment securities by type (CHF million) Swiss federal, cantonal or local government entities 2 0 0 2 3 0 0 3 Foreign governments 32 0 0 32 0 0 0 0 Corporate debt securities 757 4 1 760 593 11 0 604 Debt securities available-for-sale 791 4 1 794 596 11 0 607 Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M21 6M20 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 0 626 Realized gains 0 42 Amortized cost, fair value and average yield of debt securities Average 2Q21 (CHF million, except where indicated) Due within 1 year 174 174 0.03 Due from 1 to 5 years 2 2 3.81 Due from 5 to 10 years 615 618 0.02 Debt securities available-for-sale 791 794 0.03 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 non-credit-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 2Q21 and 4Q20, the Group had no allowance for credit losses on debt securities available-for-sale. |
Bank | |
Investment securities (old to delete) | 15 Investment securities end of 6M21 2020 Investment securities (CHF million) Debt securities available-for-sale 792 605 Total investment securities 792 605 Investment securities by type 6M21 2020 Gross Gross Gross Gross Investment securities by type (CHF million) Swiss federal, cantonal or local government entities 0 0 0 0 1 0 0 1 Foreign governments 32 0 0 32 0 0 0 0 Corporate debt securities 757 4 1 760 594 10 0 604 Debt securities available-for-sale 789 4 1 792 595 10 0 605 Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M21 6M20 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 0 626 Realized gains 0 42 Amortized cost, fair value and average yield of debt securities Average Due within 1 year 174 174 0.03 Due from 5 to 10 years 615 618 0.02 Debt securities available-for-sale 789 792 0.02 Allowance for credit losses on debt securities available-for-sale > Refer to “Note 16 – Investment securities” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 for further information on allowance for credit losses on debt securities available for sale. As of the end of 6M21 and 6M20, the Bank had no allowance for credit losses on debt securities available-for-sale. |
Other investments
Other investments | 6 Months Ended |
Jun. 30, 2021 | |
Other investments | 17 Other investments end of 2Q21 1Q21 4Q20 Other investments (CHF million) Equity method investments 1,757 2,812 2,631 Equity securities (without a readily determinable fair value) 1 1,867 1,834 1,779 of which at net asset value 122 114 113 of which at measurement alternative 355 367 359 of which at fair value 1,343 1,321 1,278 of which at cost less impairment 47 32 29 Real estate held-for-investment 2 77 78 82 Life finance instruments 3 877 916 920 Total other investments 4,578 5,640 5,412 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 2Q21 1Q21 4Q20 3 Includes single premium immediate annuity contracts. Accumulated depreciation related to real estate held-for-investment amounted to CHF 32 million, CHF 34 million and CHF 35 million for 2Q21, 1Q21 and 4Q20, respectively. No impairments were recorded on real estate held-for-investments in 2Q21, 1Q21 and 6M21, respectively. An impairment of CHF 1 million was recorded on real estate held-for-investments in 2Q20 and 6M20. Equity securities at measurement alternative in / end of 6M21 Cumulative 6M20 Impairments and adjustments (CHF million) Impairments and downward adjustments (5) (30) (3) Upward adjustments 0 137 137 > Refer to “Note 31 – Financial instruments” for further information on equity securities without a readily determinable fair value. In 2Q21, following the IPO of Allfunds Group, the Group holds an equity interest in Allfunds Group of 9.4% In 4Q20, York informed its investors of a significant change in strategy. As a result, York will focus on longer duration assets such as private equity, private debt and collateralized loan obligations (CLOs), while winding down its European hedge funds business and primarily managing internal capital in its multi-strategy fund. York’s Asia Pacific business is expected to be spun off as a new and separate hedge fund in 2021, in which the Group intends to have a continuing interest. As a result of this announcement, the Group recorded an impairment of CHF 414 million to the valuation of its equity method investment. |
Bank | |
Other investments | 16 Other investments > Refer to “Note 17 – Other investments” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 for further information. end of 6M21 2020 Other investments (CHF million) Equity method investments 1,750 2,624 Equity securities (without a readily determinable fair value) 1 1,864 1,776 of which at net asset value 122 111 of which at measurement alternative 353 357 of which at fair value 1,342 1,278 of which at cost less impairment 47 30 Real estate held-for-investment 2 52 59 Life finance instruments 3 877 920 Total other investments 4,543 5,379 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 6M21 and 2020, real estate held for investment included foreclosed or repossessed real estate of CHF 10 million and CHF 16 million, respectively, of which CHF 8 million and CHF 13 million, respectively, were related to residential real estate. 3 Includes single premium immediate annuity contracts. Equity securities at measurement alternative – impairments and adjustments in / end of 6M21 Cumulative 6M20 Impairments and adjustments (CHF million) Impairments and downward adjustments (5) (30) (3) Upward adjustments 0 137 137 > Refer to “Note 30 – Financial instruments” for further information on equity securities without a readily determinable fair value. Accumulated depreciation related to real estate held-for-investment amounted to CHF 28 million and CHF 31 million for 6M21 and 2020, respectively. No impairments were recorded on real estate held-for-investments in 6M21, while an impairment of CHF 1 million was recorded on real estate held-for-investments in 6M20. |
Loans, allowance for loan losse
Loans, allowance for loan losses and credit quality | 6 Months Ended |
Jun. 30, 2021 | |
Loans | 18 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 credit 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 2Q21 1Q21 4Q20 Loans (CHF million) Mortgages 112,223 111,678 111,270 Loans collateralized by securities 54,573 56,281 51,789 Consumer finance 6,567 5,889 4,888 Consumer 173,363 173,848 167,947 Real estate 29,464 30,320 29,045 Commercial and industrial loans 73,923 76,528 74,097 Financial institutions 21,016 21,353 19,072 Governments and public institutions 3,584 3,770 3,378 Corporate & institutional 127,987 131,971 125,592 Gross loans 301,350 305,819 293,539 of which held at amortized cost 290,249 293,992 282,131 of which held at fair value 11,101 11,827 11,408 Net (unearned income)/deferred expenses (94) (104) (95) Allowance for credit losses (1,412) (1,527) (1,536) Net loans 299,844 304,188 291,908 Gross loans by location (CHF million) Switzerland 170,902 171,126 168,589 Foreign 130,448 134,693 124,950 Gross loans 301,350 305,819 293,539 Impaired loan portfolio (CHF million) Non-performing loans 1,896 1,809 1,666 Non-interest-earning loans 383 380 375 Non-accrual loans 2,279 2,189 2,041 Restructured loans 471 472 313 Potential problem loans 406 512 843 Other impaired loans 877 984 1,156 Gross impaired loans 1 3,156 3,173 3,197 1 As of the end of 2Q21, 1Q21 and 4Q20, CHF 181 million, CHF 176 million and CHF 180 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 non-accrual 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 2020 for further information on loans and categories of impaired loans. > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” for further information on loans held at amortized cost. |
Bank | |
Loans | 17 Loans > Refer to “Note 18 – Loans” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q21 for further information. Loans end of 6M21 2020 Loans (CHF million) Mortgages 112,223 111,270 Loans collateralized by securities 54,573 51,789 Consumer finance 6,567 4,888 Consumer 173,363 167,947 Real estate 29,464 29,045 Commercial and industrial loans 74,570 74,700 Financial institutions 28,683 26,901 Governments and public institutions 3,584 3,378 Corporate & institutional 136,301 134,024 Gross loans 309,664 301,971 of which held at amortized cost 298,563 290,563 of which held at fair value 11,101 11,408 Net (unearned income)/deferred expenses (94) (95) Allowance for credit losses (1,411) (1,535) Net loans 308,159 300,341 Gross loans by location Switzerland 178,458 176,312 Foreign 131,206 125,659 Gross loans 309,664 301,971 Impaired loans Non-performing loans 1,896 1,666 Non-interest-earning loans 371 363 Non-accrual loans 2,267 2,029 Restructured loans 471 313 Potential problem loans 406 843 Other impaired loans 877 1,156 Gross impaired loans 1 3,144 3,185 1 As of the end of 6M21 and 2020, CHF 181 million and CHF 180 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 2020 for further information on 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. |
CECL - Financial instruments me
CECL - Financial instruments measured at amortized cost and credit losses | 6 Months Ended |
Jun. 30, 2021 | |
Financial instruments measured at amortized cost and credit losses | 19 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. As of the end of 2Q21, the Group had no purchased financial assets with more than insignificant credit deterioration since origination. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on the accounting of financial assets and off-balance sheet credit exposure subject to the CECL accounting guidance. Overview of financial instruments measured at amortized cost – by balance sheet position 2Q21 4Q20 1 Allowance Net 1 Allowance Net CHF million Cash and due from banks 146,217 0 146,217 138,593 (6) 138,587 Interest-bearing deposits with banks 1,313 2 0 1,313 1,303 4 (5) 1,298 Securities purchased under resale agreements and securities borrowing transactions 25,180 2 0 25,180 21,139 0 21,139 Loans 290,155 2,3 (1,412) 288,743 282,036 4,5 (1,536) 280,500 Brokerage receivables 37,501 2 (4,429) 33,072 35,942 4 (1) 35,941 Other assets 14,147 (41) 14,106 15,394 (43) 15,351 Total 514,513 (5,882) 508,631 494,407 (1,591) 492,816 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest for credit losses in the total amount of CHF 380 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million relates to interest-bearing deposits with banks, CHF 1 million to securities purchased under resale agreements and securities borrowing transactions, CHF 363 million to loans and CHF 15 million to brokerage receivables. These accrued interest balances are reported in other assets. 3 Includes endangered interest of CHF 89 million on non-accrual loans which are reported as part of the loans' amortized cost balance. 4 Excludes accrued interest for credit losses in the total amount of CHF 351 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million relates to interest-bearing deposits with banks, CHF 334 million to loans and CHF 16 million to brokerage receivables. These accrued interest balances are reported in other assets. 5 Includes endangered interest of CHF 88 million on non-accrual loans which are reported as part of the loans' amortized cost balance. Allowance for credit losses Estimating expected credit losses – overview > Refer to “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on key elements and processes of estimating expected credit losses on non-impaired and impaired credit exposures. Macroeconomic scenarios The estimation and application of forward-looking information requires quantitative analysis and significant expert judgment. The Group’s estimation of expected credit losses is based on a discounted probability-weighted estimate that considers three future macroeconomic scenarios: a baseline scenario, an upside scenario and a downside scenario. The baseline scenario represents the most likely outcome. The two other scenarios represent more optimistic and more pessimistic outcomes with the downside scenario being more severe than the upside scenario. The 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 the macroeconomic factor (MEF) trends. Current-period estimate of expected credit losses The key MEFs used in each of the macroeconomic scenarios for the calculation of the expected credit losses include, but are not limited to, GDP and industrial production. These MEFs have been selected based on the portfolios that are most material to the estimation of CECL from a longer-term perspective. As of the end of 2Q21, the forecast macroeconomic scenarios were weighted 60% 30% 10% 50% 40% 10% 2.3% 3.9% 0.1% 2.7% 2.3% 4.2% 1.4% 4.9% 4.8% 7.3% 1.4% 3.8% the timing of the recovery of the quarterly series for US real GDP to return to pre-pandemic levels was 2Q21. The forecast range for the increase in UK real GDP was 4.8% 7.0% 3.0% 7.3% 7.2% 10.8% 2.6% 5.2% For extreme and statistically rare events which cannot be adequately reflected in CECL models, such as the effects of the COVID-19 pandemic on the global economy, the event becomes the baseline scenario. In order to address circumstances where in management’s judgment the CECL model outputs are overly sensitive to the effect of economic inputs that lie significantly outside of their historical range, model overlays are applied. Such overlays are based on expert judgment and are applied in response to these exceptional circumstances to consider historical stressed losses and industry and counterparty credit level reviews. Overlays are also used to capture judgment on the economic uncertainty from global or regional developments or governmental actions with severe impacts on economies, such as the lockdowns and other actions directed towards managing the pandemic. As a result of such overlays, provisions for credit losses may not be primarily derived from MEF projections. As of the end of 2Q21, the Group has continued its approach of applying qualitative overlays to the CECL model outputs in a manner consistent with the end of 1Q21. During 2Q21 we continued to observe more favorable developments in the COVID-19 pandemic, including vaccination rate increases as well as a reduction in lockdown measures, which resulted in a generally more positive economic outlook. This overall favorable trend in 2Q21 was reflected in the Group’s overlays, which continue to be closely aligned with the macroeconomic forecasts. Loans held at amortized cost The Group’s loan portfolio is classified into two portfolio segments, consumer loans and corporate & institutional loans. > Refer to “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on the main risk characteristics of the Group’s loans held at amortized cost. Allowance for credit losses – loans held at amortized cost 2Q21 1Q21 2Q20 Corporate & Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 329 1,198 1,527 318 1,218 1,536 349 1,082 1,431 Current-period provision for expected credit losses 31 (44) (13) 12 (35) (23) 62 218 280 of which provisions for interest 1 7 8 15 1 0 1 16 0 16 Gross write-offs (13) (77) (90) (14) (24) (38) (12) (24) (36) Recoveries 2 0 2 2 0 2 2 1 3 Net write-offs (11) (77) (88) (12) (24) (36) (10) (23) (33) Foreign currency translation impact and other adjustments, net (4) (10) (14) 11 39 50 (2) (7) (9) Balance at end of period 345 1,067 1,412 329 1,198 1,527 399 1,270 1,669 of which individually evaluated 255 614 869 240 627 867 313 586 899 of which collectively evaluated 90 453 543 89 571 660 86 684 770 6M21 6M20 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 318 1,218 1,536 241 808 1,049 Current-period provision for expected credit losses 43 (79) (36) 183 533 716 of which provisions for interest 1 8 8 16 21 4 25 Gross write-offs (27) (101) (128) (24) (59) (83) Recoveries 4 0 4 5 2 7 Net write-offs (23) (101) (124) (19) (57) (76) Foreign currency translation impact and other adjustments, net 7 29 36 (6) (14) (20) Balance at end of period 345 1,067 1,412 399 1,270 1,669 1 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 90 million in 2Q21 compared to gross write-offs of CHF 38 million in 1Q21 and were primarily related to corporate & institutional loans in both quarters. In 2Q21, gross write-offs in corporate & institutional loans were mainly related to a position in corporate loans, the sale of a real estate company and single positions in small and medium-sized enterprises, trade finance and ship finance. Write-offs in consumer loans were mainly related to Swiss consumer finance loans. In 1Q21, gross write-offs in corporate & institutional loans were mainly related to a position in the US healthcare sector. Write-offs in consumer loans were mainly related to several Swiss consumer finance loans. Purchases, reclassifications and sales – loans held at amortized cost 2Q21 1Q21 2Q20 Corporate & Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 12 981 993 5 988 993 21 643 664 Reclassifications from loans held-for-sale 2 0 0 0 0 13 13 0 4 4 Reclassifications to loans held-for-sale 3 0 1,652 1,652 0 468 468 0 528 528 Sales 3 0 1,633 1,633 0 374 374 0 558 558 6M21 6M20 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 17 1,969 1,986 21 1,328 1,349 Reclassifications from loans held-for-sale 2 0 13 13 0 4 4 Reclassifications to loans held-for-sale 3 0 2,120 2,120 0 988 988 Sales 3 0 2,007 2,007 0 980 980 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. > Refer to “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on the main risk characteristics of the Group’s other financial assets held at amortized cost. The current-period provision for expected credit losses on other financial assets held at amortized cost in 2Q21, 1Q21 and 6M21 includes a total amount of CHF 70 million, CHF 4,430 million and CHF 4,500 million, respectively, related to the failure of Archegos to meet its margin commitments. As of the end of 2Q21, the related allowance is reported in brokerage receivables. Allowance for credit losses – other financial assets held at amortized cost 2Q21 1Q21 2Q20 6M21 6M20 CHF million Balance at beginning of period 4,488 55 52 55 45 Current-period provision for expected credit losses 56 4,434 21 4,490 36 Gross write-offs (4) 0 (1) (4) (9) Recoveries 0 0 1 0 1 Net write-offs (4) 0 0 (4) (8) Foreign currency translation impact and other adjustments, net (70) (1) (3) (71) (3) Balance at end of period 4,470 4,488 70 4,470 70 of which individually evaluated 4,450 4,449 20 4,450 20 of which collectively evaluated 20 39 50 20 50 Credit quality information > Refer to “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on the Group’s monitoring of credit quality and internal ratings. 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. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Consumer loans held at amortized cost by internal counterparty rating 2Q21 4Q20 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Mortgages 2021 / 2020 13,021 1,153 6 14,180 18,765 1,664 3 20,432 2020 / 2019 17,518 1,701 17 19,236 14,072 1,511 26 15,609 2019 / 2018 12,435 1,554 50 14,039 10,242 932 58 11,232 2018 / 2017 8,711 1,031 80 9,822 7,087 857 44 7,988 2017 / 2016 5,992 821 126 6,939 10,951 914 76 11,941 Prior years 43,362 3,091 342 46,795 39,918 2,854 216 42,988 Total term loans 101,039 9,351 621 111,011 101,035 8,732 423 110,190 Revolving loans 319 893 0 1,212 528 548 4 1,080 Total 101,358 10,244 621 112,223 101,563 9,280 427 111,270 Loans collateralized by securities 2021 / 2020 2,061 371 0 2,432 1,682 1,547 149 3,378 2020 / 2019 1,273 1,170 0 2,443 1,019 324 0 1,343 2019 / 2018 562 210 0 772 499 64 0 563 2018 / 2017 49 25 113 187 61 41 0 102 2017 / 2016 96 15 0 111 200 127 0 327 Prior years 1,135 697 0 1,832 563 622 0 1,185 Total term loans 5,176 2,488 113 7,777 4,024 2,725 149 6,898 Revolving loans 1 43,499 3,154 143 46,796 41,749 3,038 104 44,891 Total 48,675 5,642 256 54,573 45,773 5,763 253 51,789 Consumer finance 2021 / 2020 1,494 737 1 2,232 1,297 903 5 2,205 2020 / 2019 733 548 10 1,291 519 505 22 1,046 2019 / 2018 450 413 19 882 279 237 23 539 2018 / 2017 419 221 18 658 81 154 17 252 2017 / 2016 50 116 15 181 16 57 10 83 Prior years 397 107 44 548 48 92 41 181 Total term loans 3,543 2,142 107 5,792 2,240 1,948 118 4,306 Revolving loans 493 75 90 658 328 88 81 497 Total 4,036 2,217 197 6,450 2,568 2,036 199 4,803 Consumer – total 2021 / 2020 16,576 2,261 7 18,844 21,744 4,114 157 26,015 2020 / 2019 19,524 3,419 27 22,970 15,610 2,340 48 17,998 2019 / 2018 13,447 2,177 69 15,693 11,020 1,233 81 12,334 2018 / 2017 9,179 1,277 211 10,667 7,229 1,052 61 8,342 2017 / 2016 6,138 952 141 7,231 11,167 1,098 86 12,351 Prior years 44,894 3,895 386 49,175 40,529 3,568 257 44,354 Total term loans 109,758 13,981 841 124,580 107,299 13,405 690 121,394 Revolving loans 44,311 4,122 233 48,666 42,605 3,674 189 46,468 Total 154,069 18,103 1,074 173,246 149,904 17,079 879 167,862 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating 2Q21 4Q20 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Real estate 2021 / 2020 5,254 2,724 2 7,980 6,054 2,792 106 8,952 2020 / 2019 4,614 2,443 6 7,063 2,902 1,611 0 4,513 2019 / 2018 2,429 1,129 2 3,560 1,849 1,133 24 3,006 2018 / 2017 1,350 661 1 2,012 1,033 346 72 1,451 2017 / 2016 778 178 2 958 1,591 285 25 1,901 Prior years 4,710 888 31 5,629 5,982 1,105 33 7,120 Total term loans 19,135 8,023 44 27,202 19,411 7,272 260 26,943 Revolving loans 884 338 138 1,360 1,027 172 69 1,268 Total 20,019 8,361 182 28,562 20,438 7,444 329 28,211 Commercial and industrial loans 2021 / 2020 5,353 8,965 94 14,412 7,724 11,621 310 19,655 2020 / 2019 4,225 6,802 108 11,135 3,851 6,411 133 10,395 2019 / 2018 3,177 5,027 157 8,361 1,781 4,321 247 6,349 2018 / 2017 1,309 3,403 170 4,882 964 1,981 60 3,005 2017 / 2016 831 1,480 37 2,348 809 1,248 22 2,079 Prior years 2,666 3,810 120 6,596 2,830 3,837 128 6,795 Total term loans 17,561 29,487 686 47,734 17,959 29,419 900 48,278 Revolving loans 14,311 8,278 475 23,064 12,913 8,908 464 22,285 Total 31,872 37,765 1,161 70,798 30,872 38,327 1,364 70,563 Financial institutions 2021 / 2020 2,829 1,055 40 3,924 3,386 697 43 4,126 2020 / 2019 2,249 271 44 2,564 1,973 132 39 2,144 2019 / 2018 745 142 1 888 960 432 9 1,401 2018 / 2017 684 377 9 1,070 97 92 0 189 2017 / 2016 69 38 0 107 37 102 20 159 Prior years 254 136 15 405 288 38 2 328 Total term loans 6,830 2,019 109 8,958 6,741 1,493 113 8,347 Revolving loans 7,093 364 1 7,458 5,718 419 1 6,138 Total 13,923 2,383 110 16,416 12,459 1,912 114 14,485 Governments and public institutions 2021 / 2020 427 38 0 465 174 33 0 207 2020 / 2019 178 58 0 236 135 20 10 165 2019 / 2018 99 20 20 139 80 0 0 80 2018 / 2017 57 11 0 68 35 0 0 35 2017 / 2016 30 0 0 30 74 1 0 75 Prior years 252 22 0 274 388 41 0 429 Total term loans 1,043 149 20 1,212 886 95 10 991 Revolving loans 15 0 0 15 19 0 0 19 Total 1,058 149 20 1,227 905 95 10 1,010 Corporate & institutional – total 2021 / 2020 13,863 12,782 136 26,781 17,338 15,143 459 32,940 2020 / 2019 11,266 9,574 158 20,998 8,861 8,174 182 17,217 2019 / 2018 6,450 6,318 180 12,948 4,670 5,886 280 10,836 2018 / 2017 3,400 4,452 180 8,032 2,129 2,419 132 4,680 2017 / 2016 1,708 1,696 39 3,443 2,511 1,636 67 4,214 Prior years 7,882 4,856 166 12,904 9,488 5,021 163 14,672 Total term loans 44,569 39,678 859 85,106 44,997 38,279 1,283 84,559 Revolving loans 22,303 8,980 614 31,897 19,677 9,499 534 29,710 Total 66,872 48,658 1,473 117,003 64,674 47,778 1,817 114,269 Total loans held at amortized cost by internal counterparty rating 2Q21 4Q20 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Loans held at amortized cost – total 2021 / 2020 30,439 15,043 143 45,625 39,082 19,257 616 58,955 2020 / 2019 30,790 12,993 185 43,968 24,471 10,514 230 35,215 2019 / 2018 19,897 8,495 249 28,641 15,690 7,119 361 23,170 2018 / 2017 12,579 5,729 391 18,699 9,358 3,471 193 13,022 2017 / 2016 7,846 2,648 180 10,674 13,678 2,734 153 16,565 Prior years 52,776 8,751 552 62,079 50,017 8,589 420 59,026 Total term loans 154,327 53,659 1,700 209,686 152,296 51,684 1,973 205,953 Revolving loans 66,614 13,102 847 80,563 62,282 13,173 723 76,178 Total 220,941 66,761 2,547 290,249 1 214,578 64,857 2,696 282,131 1 1 Excludes accrued interest on loans held at amortized cost of CHF 363 million and CHF 334 million as of the end of 2Q21 and 4Q20, respectively. Credit quality of other financial assets held at amortized cost The following table presents the Group’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. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Other financial assets held at amortized cost by internal counterparty rating 2Q21 4Q20 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Other financial assets held at amortized cost 2019 / 2018 0 0 0 0 0 70 0 70 2018 / 2017 0 70 0 70 0 2 0 2 2017 / 2016 0 1 0 1 0 4 0 4 Prior years 0 3 0 3 0 0 0 0 Total term positions 0 74 0 74 0 76 0 76 Revolving positions 0 814 0 814 0 934 0 934 Total 0 888 0 888 0 1,010 0 1,010 Includes primarily mortgage servicing advances and failed purchases. Past due financial assets Generally, a financial asset is deemed past due if the principal and/or interest payment has not been received on its due date. Loans held at amortized cost – past due Current Past due Up to 31–60 61–90 More than 2Q21 (CHF million) Mortgages 111,521 167 45 27 463 702 112,223 Loans collateralized by securities 54,411 5 38 1 118 162 54,573 Consumer finance 5,750 476 15 48 161 700 6,450 Consumer 171,682 648 98 76 742 1,564 173,246 Real estate 28,161 91 122 4 184 401 28,562 Commercial and industrial loans 69,391 388 236 49 734 1,407 70,798 Financial institutions 16,278 72 0 0 66 138 16,416 Governments and public institutions 1,192 15 0 0 20 35 1,227 Corporate & institutional 115,022 566 358 53 1,004 1,981 117,003 Total loans held at amortized cost 286,704 1,214 456 129 1,746 3,545 290,249 1 4Q20 (CHF million) Mortgages 110,747 63 68 34 358 523 111,270 Loans collateralized by securities 51,668 17 0 0 104 121 51,789 Consumer finance 4,361 156 68 47 171 442 4,803 Consumer 166,776 236 136 81 633 1,086 167,862 Real estate 28,070 50 3 11 77 141 28,211 Commercial and industrial loans 69,060 630 54 137 682 1,503 70,563 Financial institutions 14,311 41 15 72 46 174 14,485 Governments and public institutions 969 37 4 0 0 41 1,010 Corporate & institutional 112,410 758 76 220 805 1,859 114,269 Total loans held at amortized cost 279,186 994 212 301 1,438 2,945 282,131 1 1 Excludes accrued interest on loans held at amortized cost of CHF 363 million and CHF 334 million as of the end of 2Q21 and 4Q20, respectively. As of the end of 2Q21 and 4Q20, the Group did not have any loans that were past due more than 90 days and still accruing interest. Also, the Group did not have any other financial assets held at amortized cost that were past due. Non-accrual financial assets For loans held at amortized cost, non-accrual loans are comprised of non-performing loans and non-interest-earning loans. > Refer to “Note 1 – Summary of significant accounting policies” and “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on non-accrual loans. Non-accrual loans held at amortized cost 6M21 6M20 Amortized Amortized CHF million Mortgages 418 615 2 167 337 380 1 20 Loans collateralized by securities 105 298 3 0 122 377 3 75 Consumer finance 201 200 1 1 168 204 0 4 Consumer 724 1,113 6 168 627 961 4 99 Real estate 324 293 6 46 155 270 3 37 Commercial and industrial loans 925 790 8 30 682 978 21 41 Financial institutions 68 63 0 0 46 65 0 8 Governments and public institutions 0 20 0 0 0 0 0 0 Corporate & institutional 1,317 1,166 14 76 883 1,313 24 86 Total loans held at amortized cost 2,041 2,279 20 244 1,510 2,274 28 185 In the Group’s recovery management function covering the Investment Bank and Asia Pacific, a position is written down to its net carrying value once the credit provision is greater than 90% Collateral-dependent financial assets > Refer to “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on collateral-dependent financial assets. Collateral-dependent financial assets managed by the recovery management function covering the Investment Bank and Asia Pacific mainly include mortgages, revolving corporate loans, securities borrowing, trade finance exposures and lombard loans. For mortgages, property, guarantees and life insurance policies are the main collateral types. For revolving corporate loans, collateral includes mainly cash, inventory, oil and gas reserves and receivables. Securities borrowing exposures are mainly secured by pledged shares, bonds, investment fund units and money market instruments. Trade finance exposures are secured by cash and guarantees. For lombard loans, the Group holds collateral in the form of pledged shares, bonds, investment fund units and money market instruments as well as cash and life insurance policies. Since 2Q21, the collateral values used for the calculation of the collateral coverage ratio are considered up to the amount of the related collateral-dependent loan; previously, the collateral coverage ratio reflected the entire collateral value. The prior period collateral coverage ratio has been updated to conform to the current presentation. As of the end of 2Q21, the overall collateral coverage ratio was 95% 86% Collateral-dependent financial assets managed by the recovery management function for International Wealth Management mainly include ship finance exposures, commercial loans, lombard loans, residential mortgages and aviation finance exposures. Ship finance exposures are collateralized by vessel mortgages, corporate guarantees, insurance assignments as well as cash balances, securities deposits or other assets held with the Group. Collateral held against commercial loans include primarily guarantees issued by export credit agencies, other guarantees, private risk insurance, asset pledges and assets held with the Group (e.g., cash, securities deposits and others). Lombard loans are collateralized by pledged financial assets mainly in the form of cash, shares, bonds, investment fund units and money market instruments as well as life insurance policies and bank guarantees. Residential mortgages are secured by mortgage notes on residential real estate, life insurance policies as well as cash balances, securities deposits or other assets held with the Group. Aircraft finance exposures are collateralized by aircraft mortgages of business jets as well as corporate and/or personal guarantees, cash balances, securities deposits or other assets held with the Group. Collateral-dependent loans increased in 2Q21, mainly driven by an increase in lombard loans, partially offset by a decrease in aviation finance. The overall collateral coverage ratio decreased from 87% 84% Collateral-dependent financial assets managed by the recovery management function for Swiss Universal Bank mainly include residential mortgages and commercial mortgages. Collateral held against residential mortgages includes mainly mortgage notes on residential real estate, pledged capital awards in retirement plans and life insurance policies. For commercial mortgages, collateral held includes primarily mortgage notes on commercial real estate and cash balances, securities deposits or other assets held with the Group. The overall collateral coverage ratio in relation to the collateral-dependent financial assets decreased from 87% 86% Off-balance sheet credit exposures > Refer to “Note 1 – Summary of significant accounting policies” and “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on the main risk characteristics and on estimating the provisions for expected credit losses on off-balance sheet credit exposures. Troubled debt restructurings and modifications Restructured financing receivables held at amortized cost 2Q21 1Q21 2Q20 Recorded Recorded Recorded Recorded Recorded Recorded CHF million, except where indicated Loans collateralized by securities 0 0 0 0 0 0 2 116 116 Real estate 1 2 2 0 0 0 0 0 0 Commercial and industrial loans 4 19 15 10 371 367 1 2 1 Financial institutions 0 0 0 1 44 44 0 0 0 Total loans 5 21 17 11 415 411 3 118 117 6M21 6M20 Recorded Recorded Recorded Recorded CHF million, except where indicated Loans collateralized by securities 0 0 0 2 116 116 Real estate 1 2 2 0 0 0 Commercial and industrial loans 14 390 382 7 32 15 Financial institutions 1 44 44 0 0 0 Total loans 16 436 428 9 148 131 Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring 2Q21 1Q21 2Q20 Number of Recorded Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 3 156 0 0 0 0 Commercial and industrial loans 0 0 0 0 3 12 Total loans 3 156 0 0 3 12 Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring (continued) 6M21 6M20 Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 3 156 0 0 Commercial and industrial loans 0 0 3 12 Total loans 3 156 3 12 In 6M21, the loan modifications of the Group included the increase of credit facilities, extended loan repayment terms, including postponed loan amortizations and extended maturity dates, interest rate concessions, waivers of principal and interest and changes in covenants. In March 2020, US federal banking regulators issued the “Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised)” (Interagency Statement). According to the Interagency Statement, short-term modifications made on a good faith basis in response to the COVID-19 crisis to borrowers that were otherwise current prior to the relief being granted would not be considered to be troubled debt restructurings. This includes short-term modifications such as payment deferrals, fee waivers, repayment term extensions or payment delays that are insignificant. The Interagency Statement was developed in consultation with the FASB and the Group has applied this guidance. The Group has granted short-term modifications to certain borrowers due to the COVID-19 crisis in the form of deferrals of capital and interest payments that are within the scope of this guidance and the loans subject to those deferrals have not been reported as troubled debt restructurings in restructured loans. |
Bank | |
Financial instruments measured at amortized cost and credit losses | 18 Financial instruments measured at amortized cost and credit losses > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q21 for further information. Overview of financial instruments measured at amortized cost – by balance sheet position 6M21 2020 1 Allowance Net 1 Allowance Net Cash and due from banks 145,226 0 145,226 137,683 (1) 137,682 Interest-bearing deposits with banks 1,245 2 0 1,245 1,235 4 (5) 1,230 Securities purchased under resale agreements and securities borrowing transactions 25,180 2 0 25,180 21,139 0 21,139 Loans 298,469 2,3 (1,411) 297,058 290,468 4,5 (1,535) 288,933 Brokerage receivables 37,503 2 (4,429) 33,074 35,944 4 (1) 35,943 Other assets 14,245 (39) 14,206 15,540 (41) 15,499 Total 521,868 (5,879) 515,989 502,009 (1,583) 500,426 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest for credit losses in the total amount of CHF 380 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million relates to interest-bearing deposits with banks, CHF 1 million to securities purchased under resale agreements and securities borrowing transactions, CHF 363 million to loans and CHF 15 million to brokerage receivables. These accrued interest balances are reported in other assets. 3 Includes endangered interest of CHF 88 million on non-accrual loans which are reported as part of the loans' amortized cost balance. 4 Excludes accrued interest for credit losses in the total amount of CHF 351 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million relates to interest-bearing deposits with banks, CHF 334 million to loans and CHF 16 million to brokerage receivables. These accrued interest balances are reported in other assets. 5 Includes endangered interest of CHF 87 million on non-accrual loans which are reported as part of the loans' amortized cost balance. Allowance for credit losses > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q21 and 1Q21 for further information on estimating expected credit losses in 6M21. Loans held at amortized cost Allowance for credit losses – loans held at amortized cost 6M21 6M20 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 318 1,217 1,535 241 807 1,048 Current-period provision for expected credit losses 43 (79) (36) 183 533 716 of which provisions for interest 1 8 8 16 21 4 25 Gross write-offs (27) (101) (128) (24) (59) (83) Recoveries 4 0 4 5 2 7 Net write-offs (23) (101) (124) (19) (57) (76) Foreign currency translation impact and other adjustments, net 7 29 36 (6) (14) (20) Balance at end of period 345 1,066 1,411 399 1,269 1,668 of which individually evaluated 255 613 868 313 585 898 of which collectively evaluated 90 453 543 86 684 770 1 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 19 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q21 and 1Q21 for further information on the Bank’s gross write-offs in 6M21. Purchases, reclassifications and sales – loans held at amortized cost 6M21 6M20 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 17 1,969 1,986 21 1,328 1,349 Reclassifications from loans held-for-sale 2 0 13 13 0 4 4 Reclassifications to loans held-for-sale 3 0 2,120 2,120 0 988 988 Sales 3 0 2,007 2,007 0 980 980 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 6M21 6M20 CHF million Balance at beginning of period 48 43 Current-period provision for expected credit losses 4,494 32 Gross write-offs (4) (9) Recoveries 0 1 Net write-offs (4) (8) Foreign currency translation impact and other adjustments, net (70) (4) Balance at end of period 4,468 63 of which individually evaluated 4,448 19 of which collectively evaluated 20 44 The current-period provision for expected credit losses on other financial assets held at amortized cost in 6M21 includes a total amount of CHF 4,500 million related to the failure of Archegos to meet its margin commitments. As of the end of 6M21, the related allowance is reported in brokerage receivables. 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. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Consumer loans held at amortized cost by internal counterparty rating 6M21 2020 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total Mortgages 2021 / 2020 13,021 1,153 6 14,180 18,765 1,664 3 20,432 2020 / 2019 17,518 1,701 17 19,236 14,072 1,511 26 15,609 2019 / 2018 12,435 1,554 50 14,039 10,242 932 58 11,232 2018 / 2017 8,711 1,031 80 9,822 7,087 857 44 7,988 2017 / 2016 5,992 821 126 6,939 10,951 914 76 11,941 Prior years 43,362 3,091 342 46,795 39,918 2,854 216 42,988 Total term loans 101,039 9,351 621 111,011 101,035 8,732 423 110,190 Revolving loans 319 893 0 1,212 528 548 4 1,080 Total 101,358 10,244 621 112,223 101,563 9,280 427 111,270 Loans collateralized by securities 2021 / 2020 2,061 371 0 2,432 1,682 1,547 149 3,378 2020 / 2019 1,273 1,170 0 2,443 1,019 324 0 1,343 2019 / 2018 562 210 0 772 499 64 0 563 2018 / 2017 49 25 113 187 61 41 0 102 2017 / 2016 96 15 0 111 200 127 0 327 Prior years 1,135 697 0 1,832 563 622 0 1,185 Total term loans 5,176 2,488 113 7,777 4,024 2,725 149 6,898 Revolving loans 1 43,499 3,154 143 46,796 41,749 3,038 104 44,891 Total 48,675 5,642 256 54,573 45,773 5,763 253 51,789 Consumer finance 2021 / 2020 1,494 737 1 2,232 1,297 903 5 2,205 2020 / 2019 733 548 10 1,291 519 505 22 1,046 2019 / 2018 450 413 19 882 279 237 23 539 2018 / 2017 419 221 18 658 81 154 17 252 2017 / 2016 50 116 15 181 16 57 10 83 Prior years 397 107 44 548 48 92 41 181 Total term loans 3,543 2,142 107 5,792 2,240 1,948 118 4,306 Revolving loans 493 75 90 658 328 88 81 497 Total 4,036 2,217 197 6,450 2,568 2,036 199 4,803 Consumer – total 2021 / 2020 16,576 2,261 7 18,844 21,744 4,114 157 26,015 2020 / 2019 19,524 3,419 27 22,970 15,610 2,340 48 17,998 2019 / 2018 13,447 2,177 69 15,693 11,020 1,233 81 12,334 2018 / 2017 9,179 1,277 211 10,667 7,229 1,052 61 8,342 2017 / 2016 6,138 952 141 7,231 11,167 1,098 86 12,351 Prior years 44,894 3,895 386 49,175 40,529 3,568 257 44,354 Total term loans 109,758 13,981 841 124,580 107,299 13,405 690 121,394 Revolving loans 44,311 4,122 233 48,666 42,605 3,674 189 46,468 Total 154,069 18,103 1,074 173,246 149,904 17,079 879 167,862 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating 6M21 2020 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total Real estate 2021 / 2020 5,254 2,724 2 7,980 6,054 2,792 106 8,952 2020 / 2019 4,614 2,443 6 7,063 2,902 1,611 0 4,513 2019 / 2018 2,429 1,129 2 3,560 1,849 1,133 24 3,006 2018 / 2017 1,350 661 1 2,012 1,033 346 72 1,451 2017 / 2016 778 178 2 958 1,591 285 25 1,901 Prior years 4,710 888 31 5,629 5,982 1,105 33 7,120 Total term loans 19,135 8,023 44 27,202 19,411 7,272 260 26,943 Revolving loans 884 338 138 1,360 1,027 172 69 1,268 Total 20,019 8,361 182 28,562 20,438 7,444 329 28,211 Commercial and industrial loans 2021 / 2020 5,353 8,965 94 14,412 7,724 11,621 310 19,655 2020 / 2019 4,225 6,802 108 11,135 3,851 6,411 133 10,395 2019 / 2018 3,177 5,027 157 8,361 1,781 4,321 247 6,349 2018 / 2017 1,309 3,403 170 4,882 964 1,981 60 3,005 2017 / 2016 831 1,480 37 2,348 809 1,248 22 2,079 Prior years 2,666 3,810 108 6,584 2,830 3,837 116 6,783 Total term loans 17,561 29,487 674 47,722 17,959 29,419 888 48,266 Revolving loans 14,311 8,278 475 23,064 12,913 8,908 464 22,285 Total 31,872 37,765 1,149 70,786 30,872 38,327 1,352 70,551 Financial institutions 2021 / 2020 2,829 1,055 40 3,924 3,386 697 43 4,126 2020 / 2019 2,249 271 44 2,564 1,973 132 39 2,144 2019 / 2018 745 142 1 888 960 432 9 1,401 2018 / 2017 684 377 9 1,070 97 92 0 189 2017 / 2016 69 38 0 107 37 102 20 159 Prior years 254 136 15 405 288 38 2 328 Total term loans 6,830 2,019 109 8,958 6,741 1,493 113 8,347 Revolving loans 7,093 364 1 7,458 5,718 419 1 6,138 Total 13,923 2,383 110 16,416 12,459 1,912 114 14,485 Governments and public institutions 2021 / 2020 427 38 0 465 174 33 0 207 2020 / 2019 178 58 0 236 135 20 10 165 2019 / 2018 99 20 20 139 80 0 0 80 2018 / 2017 57 11 0 68 35 0 0 35 2017 / 2016 30 0 0 30 74 1 0 75 Prior years 252 22 0 274 388 41 0 429 Total term loans 1,043 149 20 1,212 886 95 10 991 Revolving loans 15 0 0 15 19 0 0 19 Total 1,058 149 20 1,227 905 95 10 1,010 Corporate & institutional – total 2021 / 2020 13,863 12,782 136 26,781 17,338 15,143 459 32,940 2020 / 2019 11,266 9,574 158 20,998 8,861 8,174 182 17,217 2019 / 2018 6,450 6,318 180 12,948 4,670 5,886 280 10,836 2018 / 2017 3,400 4,452 180 8,032 2,129 2,419 132 4,680 2017 / 2016 1,708 1,696 39 3,443 2,511 1,636 67 4,214 Prior years 7,882 4,856 154 12,892 9,488 5,021 151 14,660 Total term loans 44,569 39,678 847 85,094 44,997 38,279 1,271 84,547 Revolving loans 22,303 8,980 614 31,897 19,677 9,499 534 29,710 Total 66,872 48,658 1,461 116,991 64,674 47,778 1,805 114,257 Total loans held at amortized cost by internal counterparty rating 6M21 2020 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total Loans held at amortized cost – total 2021 / 2020 30,439 15,043 143 45,625 39,082 19,257 616 58,955 2020 / 2019 30,790 12,993 185 43,968 24,471 10,514 230 35,215 2019 / 2018 19,897 8,495 249 28,641 15,690 7,119 361 23,170 2018 / 2017 12,579 5,729 391 18,699 9,358 3,471 193 13,022 2017 / 2016 7,846 2,648 180 10,674 13,678 2,734 153 16,565 Prior years 52,776 8,751 540 62,067 50,017 8,589 408 59,014 Total term loans 154,327 53,659 1,688 209,674 152,296 51,684 1,961 205,941 Revolving loans 66,614 13,102 847 80,563 62,282 13,173 723 76,178 Total loans to third parties 220,941 66,761 2,535 290,237 214,578 64,857 2,684 282,119 Total loans to entities under common control 8,324 2 0 8,326 8,444 0 0 8,444 Total 229,265 66,763 2,535 298,563 223,022 64,857 2,684 290,563 1 1 Excludes accrued interest on loans held at amortized cost of CHF 363 million and CHF 334 million as of the end of 6M21 and 2020, respectively. 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. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Other financial assets held at amortized cost by internal counterparty rating 6M21 2020 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total 6M21 (CHF million) Other financial assets held at amortized cost 2019 0 0 0 0 0 70 0 70 2018 0 70 0 70 0 2 0 2 2017 0 1 0 1 0 4 0 4 Prior years 0 3 0 3 0 0 0 0 Total term positions 0 74 0 74 0 76 0 76 Revolving positions 0 814 0 814 0 934 0 934 Total 0 888 0 888 0 1,010 0 1,010 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 6M21 (CHF million) Mortgages 111,521 167 45 27 463 702 112,223 Loans collateralized by securities 54,411 5 38 1 118 162 54,573 Consumer finance 5,750 476 15 48 161 700 6,450 Consumer 171,682 648 98 76 742 1,564 173,246 Real estate 28,161 91 122 4 184 401 28,562 Commercial and industrial loans 69,390 388 236 49 723 1,396 70,786 Financial institutions 16,278 72 0 0 66 138 16,416 Governments and public institutions 1,192 15 0 0 20 35 1,227 Corporate & institutional 115,021 566 358 53 993 1,970 116,991 Total loans to third parties 286,703 1,214 456 129 1,735 3,534 290,237 Total loans to entities under common control 8,326 0 0 0 0 0 8,326 Total loans held at amortized cost 295,029 1,214 456 129 1,735 3,534 298,563 1 2020 (CHF million) Mortgages 110,747 63 68 34 358 523 111,270 Loans collateralized by securities 51,668 17 0 0 104 121 51,789 Consumer finance 4,361 156 68 47 171 442 4,803 Consumer 166,776 236 136 81 633 1,086 167,862 Real estate 28,070 50 3 11 77 141 28,211 Commercial and industrial loans 69,060 630 54 137 670 1,491 70,551 Financial institutions 14,311 41 15 72 46 174 14,485 Governments and public institutions 969 37 4 0 0 41 1,010 Corporate & institutional 112,410 758 76 220 793 1,847 114,257 Total loans to third parties 279,186 994 212 301 1,426 2,933 282,119 1 Total loans to entities under common control 8,444 0 0 0 0 0 8,444 Total loans held at amortized cost 287,630 994 212 301 1,426 2,933 290,563 1 1 Excludes accrued interest on loans held at amortized cost of CHF 363 million and CHF 334 million as of the end of 6M21 and 2020, respectively. As of the end of 6M21, 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 6M21 6M20 Amortized Amortized CHF million Mortgages 418 615 2 167 337 380 1 20 Loans collateralized by securities 105 298 3 0 122 377 3 75 Consumer finance 201 200 1 1 168 204 0 4 Consumer 724 1,113 6 168 627 961 4 99 Real estate 324 293 6 46 155 270 3 37 Commercial and industrial loans 913 778 8 30 670 966 21 41 Financial institutions 68 63 0 0 46 65 0 8 Governments and public institutions 0 20 0 0 0 0 0 0 Corporate & institutional 1,305 1,154 14 76 871 1,301 24 86 Total loans held at amortized cost 2,029 2,267 20 244 1,498 2,262 28 185 Collateral-dependent financial assets > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q21 and 1Q21 for further information on the Bank’s collateral-dependent financial assets. Troubled debt restructurings and modifications Restructured financing receivables held at amortized cost 6M21 6M20 Recorded Recorded Recorded Recorded CHF million, except where indicated Loans collateralized by securities 0 0 0 2 116 116 Real estate 1 2 2 0 0 0 Commercial and industrial loans 14 390 382 7 32 15 Financial institutions 1 44 44 0 0 0 Total loans 16 436 428 9 148 131 Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring 6M21 6M20 Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 3 156 0 0 Commercial and industrial loans 0 0 3 12 Total loans 3 156 3 12 In 6M21, the loan modifications of the Bank included the increase of credit facilities, extended loan repayment terms, including postponed loan amortizations and extended maturity dates, interest rate concessions, waivers of principal and interest and changes in covenants. |
Goodwill
Goodwill | 6 Months Ended |
Jun. 30, 2021 | |
Goodwill | 20 Goodwill Swiss International Credit 1 Gross amount of goodwill (CHF million) Balance at beginning of period 595 291 1,063 1,140 5,434 8,535 Foreign currency translation impact (5) (2) (11) (18) (20) (56) Balance at end of period 590 289 1,052 1,122 5,414 8,479 Accumulated impairment (CHF million) Balance at beginning of period 0 0 0 0 3,879 3,891 Balance at end of period 0 0 0 0 3,879 3,891 Net book value (CHF million) Net book value 590 289 1,052 1,122 1,535 4,588 6M21 Gross amount of goodwill (CHF million) Balance at beginning of period 575 284 1,021 1,068 5,357 8,317 Foreign currency translation impact 15 5 31 54 57 162 Balance at end of period 590 289 1,052 1,122 5,414 8,479 Accumulated impairment (CHF million) Balance at beginning of period 0 0 0 0 3,879 3,891 Balance at end of period 0 0 0 0 3,879 3,891 Net book value (CHF million) Net book value 590 289 1,052 1,122 1,535 4,588 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. The Board of Directors of the Group is currently conducting a review of the Group’s overall business strategy and risk appetite in addition to business reviews and potential personnel and organizational changes contemplated in response to both the Archegos and the supply chain finance fund matters previously disclosed. The Group has determined that these strategy and business reviews, and the associated and anticipated changes to the financial plans arising from these reviews, were goodwill triggering events for 2Q21 impacting all reporting units of the Group. As previously disclosed, effective April 1, 2021, the Asset Management business was separated from the International Wealth Management division and managed as a new separate division of the Group. For goodwill testing purposes the new Asset Management division is considered a reporting unit of the Group. Based on its goodwill impairment analysis performed, the Group concluded that the estimated fair value for all of the reporting units with goodwill exceeded their related carrying values and no impairments were necessary as of June 30, 2021. The fair value of the Investment Bank reporting unit exceeded its related carrying value by only 4% 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, intangible assets and other CET1 capital relevant adjustments. 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 the 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 financial 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 Investment Bank and Asset Management reporting units as of June 30, 2021. 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 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 | 19 Goodwill Swiss International 1 Gross amount of goodwill (CHF million) Balance at beginning of period 557 276 1,005 1,062 4,734 7,646 Foreign currency translation impact 15 6 34 54 37 146 Balance at end of period 572 282 1,039 1,116 4,771 7,792 Accumulated impairment (CHF million) Balance at beginning of period 0 0 0 0 3,879 3,891 Balance at end of period 0 0 0 0 3,879 3,891 Net book value (CHF million) Net book value 572 282 1,039 1,116 892 3,901 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 20– Goodwill” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 for further information. |
Other assets and other liabilit
Other assets and other liabilities | 6 Months Ended |
Jun. 30, 2021 | |
Other assets and other liabilities | 21 Other assets and other liabilities end of 2Q21 1Q21 4Q20 Other assets (CHF million) Cash collateral on derivative instruments 7,664 1 8,817 1 7,741 Cash collateral on non-derivative transactions 416 250 635 Derivative instruments used for hedging 457 295 131 Assets held-for-sale 8,169 13,193 7,077 of which loans 2 8,136 13,160 7,046 allowance for loans held-for-sale (51) (51) (48) of which real estate 3 31 27 27 of which long-lived assets 2 6 4 Premises, equipment and right-of-use assets 7,428 7,523 7,376 Assets held for separate accounts 107 107 102 Interest and fees receivable 4,155 4,838 4,255 Deferred tax assets 4,201 3,964 3,667 Prepaid expenses 693 688 448 of which cloud computing arrangement implementation costs 45 43 38 Failed purchases 1,793 1,595 1,451 Defined benefit pension and post-retirement plan assets 3,047 3,073 2,872 Other 4,041 4,559 3,882 Other assets 42,171 48,902 39,637 Other liabilities (CHF million) Cash collateral on derivative instruments 7,200 8,839 7,831 Cash collateral on non-derivative transactions 215 258 174 Derivative instruments used for hedging 12 39 45 Operating leases liabilities 2,652 2,740 2,759 Provisions 1,256 1,653 2,080 of which expected credit losses on off-balance sheet credit exposures 260 324 311 Restructuring liabilities 25 42 52 Liabilities held for separate accounts 107 107 102 Interest and fees payable 4,128 4,651 4,297 Current tax liabilities 622 569 555 Deferred tax liabilities 578 557 530 Failed sales 1,437 1,090 1,120 Defined benefit pension and post-retirement plan liabilities 414 425 410 Other 10,425 10,733 11,479 Other liabilities 29,071 31,703 31,434 1 As of the end of 1Q21, cash collateral on derivative instruments was net of an allowance for credit losses of CHF 4,394 million related to the failure of Archegos to meet its margin commitments; after the closeout of all derivatives including collateral in 2Q21, the remaining receivable balance and the related allowance for credit losses have been reclassified to brokerage receivables. 2 Included as of the end of 2Q21, 1Q21 and 4Q20 were CHF 363 million, CHF 471 million and CHF 262 million, respectively, in restricted loans, which represented collateral on secured borrowings. 3 As of the end of 2Q21, 1Q21 and 4Q20, real estate held-for-sale included foreclosed or repossessed real estate of CHF 8 million, CHF 8 million and CHF 8 million, respectively, of which CHF 8 million, CHF 8 million and CHF 8 million, respectively were related to residential real estate. |
Bank | |
Other assets and other liabilities | 20 Other assets and other liabilities end of 6M21 2020 Other assets (CHF million) Cash collateral on derivative instruments 7,664 7,741 Cash collateral on non-derivative transactions 416 635 Derivative instruments used for hedging 457 131 Assets held-for-sale 8,169 7,077 of which loans 1 8,136 7,046 allowance for loans held-for-sale (51) (48) of which real estate 2 31 27 of which long-lived assets 2 4 Premises, equipment and right-of-use assets 6,263 6,213 Assets held for separate accounts 107 102 Interest and fees receivable 4,225 4,397 Deferred tax assets 4,155 3,630 Prepaid expenses 570 367 of which cloud computing arrangement implementation costs 39 32 Failed purchases 1,793 1,451 Defined benefit pension and post-retirement plan assets 910 975 Other 4,050 3,855 Other assets 38,779 36,574 Other liabilities (CHF million) Cash collateral on derivative instruments 7,209 7,831 Cash collateral on non-derivative transactions 215 174 Derivative instruments used for hedging 12 45 Operating leases liabilities 1,896 1,981 Provisions 1,244 2,067 of which expected credit losses on off-balance sheet credit exposures 260 311 Restructuring liabilities 25 49 Liabilities held for separate accounts 107 102 Interest and fees payable 4,068 4,397 Current tax liabilities 612 542 Deferred tax liabilities 164 157 Failed sales 1,437 1,120 Defined benefit pension and post-retirement plan liabilities 406 403 Other 10,540 11,472 Other liabilities 27,935 30,340 1 Included as of the end of 6M21 and 2020 were CHF 363 million and CHF 262 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 6M21 and 2020, real estate held-for-sale included foreclosed or repossessed real estate of CHF 8 million and CHF 8 million, respectively, of which CHF 8 million and CHF 8 million, respectively, were related to residential real estate. |
Long-term debt
Long-term debt | 6 Months Ended |
Jun. 30, 2021 | |
Long-term debt | 22 Long-term debt Long-term debt end of 2Q21 1Q21 4Q20 Long-term debt (CHF million) Senior 143,874 141,689 133,056 Subordinated 25,034 27,196 26,285 Non-recourse liabilities from consolidated VIEs 1,319 1,568 1,746 Long-term debt 170,227 170,453 161,087 of which reported at fair value 69,436 72,312 70,976 of which structured notes 45,030 48,210 47,039 Structured notes by product end of 2Q21 1Q21 4Q20 Structured notes by product (CHF million) Equity 29,473 32,230 29,907 Fixed income 12,465 12,705 13,882 Credit 2,700 2,882 2,881 Other 392 393 369 Total structured notes 45,030 48,210 47,039 |
Bank | |
Long-term debt | 21 Long-term debt Long-term debt end of 6M21 2020 Long-term debt (CHF million) Senior 96,726 94,768 Subordinated 66,247 63,765 Non-recourse liabilities from consolidated VIEs 1,319 1,746 Long-term debt 164,292 160,279 of which reported at fair value 68,486 70,243 of which structured notes 45,030 47,039 Structured notes by product end of 6M21 2020 Structured notes by product (CHF million) Equity 29,473 29,907 Fixed income 12,465 13,882 Credit 2,700 2,881 Other 392 369 Total structured notes 45,030 47,039 |
Accumulated other comprehensive
Accumulated other comprehensive income | 6 Months Ended |
Jun. 30, 2021 | |
Accumulated other comprehensive income | 23 Accumulated other comprehensive income and additional share information Accumulated other comprehensive income/(loss) 1 Gains/ 2Q21 (CHF million) Balance at beginning of period 103 (15,534) 13 (3,662) 432 (2,019) (20,667) Increase/(decrease) (19) (471) 0 (89) 0 (514) (1,093) Reclassification adjustments, included in net income/(loss) (22) 0 0 78 (24) 31 63 Total increase/(decrease) (41) (471) 0 (11) (24) (483) (1,030) Balance at end of period 62 (16,005) 13 (3,673) 408 (2,502) (21,697) 1Q21 (CHF million) Balance at beginning of period 206 (17,528) 13 (3,727) 456 (2,570) (23,150) Increase/(decrease) (91) 1,994 0 (3) 0 505 2,405 Reclassification adjustments, included in net income/(loss) (12) 0 0 68 (24) 46 78 Total increase/(decrease) (103) 1,994 0 65 (24) 551 2,483 Balance at end of period 103 (15,534) 13 (3,662) 432 (2,019) (20,667) 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) 6M21 (CHF million) Balance at beginning of period 206 (17,528) 13 (3,727) 456 (2,570) (23,150) Increase/(decrease) (110) 1,523 0 (92) 0 (9) 1,312 Reclassification adjustments, included in net income/(loss) (34) 0 0 146 (48) 77 141 Total increase/(decrease) (144) 1,523 0 54 (48) 68 1,453 Balance at end of period 62 (16,005) 13 (3,673) 408 (2,502) (21,697) 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) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 2Q21, 1Q21, 2Q20, 6M21 and 6M20. Details of significant reclassification adjustments in 2Q21 1Q21 2Q20 6M21 6M20 Reclassification adjustments, included in net income/(loss) (CHF million) Actuarial gains/(losses) Amortization of recognized actuarial losses 1 95 83 89 178 179 Tax expense/(benefit) (17) (15) (16) (32) (33) Net of tax 78 68 73 146 146 Net prior service credit/(cost) Amortization of recognized prior service credit/(cost) 1 (29) (30) (41) (59) (83) Tax expense 5 6 7 11 15 Net of tax (24) (24) (34) (48) (68) 1 These components are included in the computation of total benefit costs. Refer to "Note 27 – Pension and other post-retirement benefits" for further information. Additional share information 2Q21 1Q21 2Q20 6M21 6M20 Common shares issued Balance at beginning of period 2,447,747,720 2,447,747,720 2,556,011,720 2,447,747,720 2,556,011,720 Issuance of common shares 203,000,000 0 0 203,000,000 0 Balance at end of period 2,650,747,720 2,447,747,720 2,556,011,720 2,650,747,720 2,556,011,720 Treasury shares Balance at beginning of period (83,737,482) (41,602,841) (156,996,084) (41,602,841) (119,761,811) Sale of treasury shares 510,392,920 552,731,383 170,488,741 1,063,124,303 409,965,327 Repurchase of treasury shares (514,715,462) (599,319,336) (172,555,047) (1,114,034,798) (452,618,437) Issuance of common shares relating to mandatory convertible notes (203,000,000) 0 0 (203,000,000) 0 Conversion of mandatory convertible notes 106,805 0 0 106,805 0 Share-based compensation 51,473,883 4,453,312 44,650,431 55,927,195 48,002,962 Balance at end of period (239,479,336) (83,737,482) (114,411,959) (239,479,336) (114,411,959) Common shares outstanding Balance at end of period 2,411,268,384 1 2,364,010,238 2 2,441,599,761 2 2,411,268,384 1 2,441,599,761 2 1 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 450,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments. 2 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 | 22 Accumulated other comprehensive income Accumulated other comprehensive income/(loss) Unrealized 1 Gains/ 6M21 (CHF million) Balance at beginning of period 205 (17,517) 13 (460) (11) (2,469) (20,239) Increase/(decrease) (109) 1,473 0 (85) (1) (5) 1,273 Reclassification adjustments, included in net income/(loss) (34) 0 0 0 1 77 44 Total increase/(decrease) (143) 1,473 0 (85) 0 72 1,317 Balance at end of period 62 (16,044) 13 (545) (11) (2,397) (18,922) 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) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 6M21 and 6M20. Details on significant reclassification adjustments in 6M21 6M20 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 0 17 Actuarial gains/(losses) Amortization of recognized actuarial losses 1 (2) 7 Tax expense/(benefit) 2 0 Net of tax 0 7 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. |
Offsetting of financial assets
Offsetting of financial assets and financial liabilities | 6 Months Ended |
Jun. 30, 2021 | |
Offsetting of financial assets and financial liabilities | 24 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 28 – 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 2Q21 4Q20 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 5.1 3.7 6.1 4.6 OTC 52.1 48.6 68.2 65.7 Exchange-traded 0.1 0.1 0.5 0.6 Interest rate products 57.3 52.4 74.8 70.9 OTC-cleared 0.2 0.2 0.2 0.2 OTC 19.1 20.4 23.1 27.7 Foreign exchange products 19.3 20.6 23.3 27.9 OTC 9.3 14.1 10.7 15.1 Exchange-traded 23.2 22.1 19.9 20.4 Equity/index-related products 32.5 36.2 30.6 35.5 OTC-cleared 1.1 1.2 0.7 0.7 OTC 3.7 4.7 3.9 4.9 Credit derivatives 4.8 5.9 4.6 5.6 OTC 1.5 0.9 1.6 0.7 Exchange-traded 0.0 0.0 0.1 0.1 Other products 1 1.5 0.9 1.7 0.8 OTC-cleared 6.4 5.1 7.0 5.5 OTC 85.7 88.7 107.5 114.1 Exchange-traded 23.3 22.2 20.5 21.1 Total gross derivatives subject to enforceable master netting agreements 115.4 116.0 135.0 140.7 Offsetting (CHF billion) OTC-cleared (5.7) (5.0) (6.2) (5.4) OTC (74.6) (82.4) (94.4) (104.3) Exchange-traded (21.4) (21.5) (20.0) (20.3) Offsetting (101.7) (108.9) (120.6) (130.0) of which counterparty netting (87.7) (87.7) (103.2) (103.2) of which cash collateral netting (14.0) (21.2) (17.4) (26.8) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.7 0.1 0.8 0.1 OTC 11.1 6.3 13.1 9.8 Exchange-traded 1.9 0.7 0.5 0.8 Total net derivatives subject to enforceable master netting agreements 13.7 7.1 14.4 10.7 Total derivatives not subject to enforceable master netting agreements 2 10.8 5.2 11.2 6.8 Total net derivatives presented in the consolidated balance sheets 24.5 12.3 25.6 17.5 of which recorded in trading assets and trading liabilities 24.1 12.3 25.5 17.5 of which recorded in other assets and other liabilities 0.4 0.0 0.1 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 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. 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 master repurchase agreement on the same date shall be set off. As permitted by US GAAP the Group has elected to net transactions under such agreements in the consolidated balance sheet when specific conditions are met. Transactions are netted if, among other conditions, they are executed with the same counterparty, have the same explicit settlement date specified at the inception of the transactions, are settled through the same securities transfer system 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 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 2Q21 and 4Q20. 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 2Q21 4Q20 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 74.9 (14.1) 60.8 55.8 (7.5) 48.3 Securities borrowing transactions 9.5 (0.5) 9.0 11.9 (0.4) 11.5 Total subject to enforceable master netting agreements 84.4 (14.6) 69.8 67.7 (7.9) 59.8 Total not subject to enforceable master netting agreements 1 24.8 – 24.8 19.3 – 19.3 Total 109.2 (14.6) 94.6 2 87.0 (7.9) 79.1 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 69,465 million and CHF 57,994 million of the total net amount as of the end of 2Q21 and 4Q20, 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 2Q21 4Q20 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 29.5 (14.6) 14.9 26.0 (7.9) 18.1 Securities lending transactions 3.0 0.0 3.0 3.5 0.0 3.5 Obligation to return securities received as collateral, at fair value 37.7 0.0 37.7 49.9 0.0 49.9 Total subject to enforceable master netting agreements 70.2 (14.6) 55.6 79.4 (7.9) 71.5 Total not subject to enforceable master netting agreements 1 4.0 – 4.0 3.1 – 3.1 Total 74.2 (14.6) 59.6 82.5 (7.9) 74.6 of which securities sold under repurchase agreements and securities lending transactions 35.5 (14.6) 20.9 2 31.7 (7.9) 23.8 2 of which obligation to return securities received as collateral, at fair value 38.7 0.0 38.7 50.8 0.0 50.8 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 10,983 million and CHF 13,594 million of the total net amount as of the end of 2Q21 and 4Q20, 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 2Q21 4Q20 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 13.7 5.1 0.0 8.6 14.4 5.5 0.1 8.8 Securities purchased under resale agreements 60.8 60.8 0.0 0.0 48.3 48.3 0.0 0.0 Securities borrowing transactions 9.0 8.8 0.0 0.2 11.5 11.1 0.0 0.4 Total financial assets subject to enforceable master netting agreements 83.5 74.7 0.0 8.8 74.2 64.9 0.1 9.2 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 7.1 1.4 0.0 5.7 10.7 2.2 0.0 8.5 Securities sold under repurchase agreements 14.9 14.9 0.0 0.0 18.1 18.1 0.0 0.0 Securities lending transactions 3.0 2.6 0.0 0.4 3.5 3.2 0.0 0.3 Obligation to return securities received as collateral, at fair value 37.7 32.4 0.0 5.3 49.9 43.4 0.0 6.5 Total financial liabilities subject to enforceable master netting agreements 62.7 51.3 0.0 11.4 82.2 66.9 0.0 15.3 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 credit default swaps 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 | 23 Offsetting of financial assets and financial liabilities > Refer to “Note 24 – Offsetting of financial assets and financial liabilities” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 for further information. Offsetting of derivatives 6M21 2020 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 5.1 3.7 6.1 4.6 OTC 52.2 48.6 68.2 65.7 Exchange-traded 0.1 0.1 0.5 0.6 Interest rate products 57.4 52.4 74.8 70.9 OTC-cleared 0.2 0.2 0.2 0.2 OTC 19.1 20.4 23.1 27.7 Foreign exchange products 19.3 20.6 23.3 27.9 OTC 9.3 14.1 10.7 15.1 Exchange-traded 23.2 22.1 19.9 20.4 Equity/index-related products 32.5 36.2 30.6 35.5 OTC-cleared 1.1 1.2 0.7 0.7 OTC 3.7 4.7 3.9 4.9 Credit derivatives 4.8 5.9 4.6 5.6 OTC 1.5 0.9 1.6 0.8 Exchange-traded 0.0 0.0 0.1 0.1 Other products 1 1.5 0.9 1.7 0.9 OTC-cleared 6.4 5.1 7.0 5.5 OTC 85.8 88.7 107.5 114.2 Exchange-traded 23.3 22.2 20.5 21.1 Total gross derivatives subject to enforceable master netting agreements 115.5 116.0 135.0 140.8 Offsetting (CHF billion) OTC-cleared (5.7) (5.0) (6.2) (5.4) OTC (74.7) (82.4) (94.4) (104.4) Exchange-traded (21.4) (21.5) (20.0) (20.3) Offsetting (101.8) (108.9) (120.6) (130.1) of which counterparty netting (87.8) (87.8) (103.2) (103.2) of which cash collateral netting (14.0) (21.1) (17.4) (26.9) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.7 0.1 0.8 0.1 OTC 11.1 6.3 13.1 9.8 Exchange-traded 1.9 0.7 0.5 0.8 Total net derivatives subject to enforceable master netting agreements 13.7 7.1 14.4 10.7 Total derivatives not subject to enforceable master netting agreements 2 10.8 5.2 11.2 6.8 Total net derivatives presented in the consolidated balance sheets 24.5 12.3 25.6 17.5 of which recorded in trading assets and trading liabilities 24.1 12.3 25.5 17.5 of which recorded in other assets and other liabilities 0.4 0.0 0.1 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 6M21 2020 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 74.9 (14.1) 60.8 55.8 (7.5) 48.3 Securities borrowing transactions 9.5 (0.5) 9.0 11.9 (0.4) 11.5 Total subject to enforceable master netting agreements 84.4 (14.6) 69.8 67.7 (7.9) 59.8 Total not subject to enforceable master netting agreements 1 24.8 – 24.8 19.3 – 19.3 Total 109.2 (14.6) 94.6 2 87.0 (7.9) 79.1 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 69,465 million and CHF 57,994 million of the total net amount as of the end of 6M21 and 2020, respectively, are reported at fair value. Offsetting of securities sold under repurchase agreements and securities lending transactions 6M21 2020 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 29.6 (14.6) 15.0 26.1 (7.9) 18.2 Securities lending transactions 3.0 0.0 3.0 3.5 0.0 3.5 Obligation to return securities received as collateral, at fair value 37.7 0.0 37.7 49.9 0.0 49.9 Total subject to enforceable master netting agreements 70.3 (14.6) 55.7 79.5 (7.9) 71.6 Total not subject to enforceable master netting agreements 1 4.0 – 4.0 3.1 – 3.1 Total 74.3 (14.6) 59.7 82.6 (7.9) 74.7 of which securities sold under repurchase agreements and securities lending transactions 35.6 (14.6) 21.0 2 31.8 (7.9) 23.9 2 of which obligation to return securities received as collateral, at fair value 38.7 0.0 38.7 50.8 0.0 50.8 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 11,080 million and CHF 13,688 million of the total net amount as of the end of 6M21 and 2020, respectively, are reported at fair value. Amounts not offset in the consolidated balance sheets 6M21 2020 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 13.7 5.1 0.0 8.6 14.4 5.5 0.1 8.8 Securities purchased under resale agreements 60.8 60.8 0.0 0.0 48.3 48.3 0.0 0.0 Securities borrowing transactions 9.0 8.8 0.0 0.2 11.5 11.1 0.0 0.4 Total financial assets subject to enforceable master netting agreements 83.5 74.7 0.0 8.8 74.2 64.9 0.1 9.2 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 7.1 1.4 0.0 5.7 10.7 2.2 0.0 8.5 Securities sold under repurchase agreements 15.0 15.0 0.0 0.0 18.2 18.2 0.0 0.0 Securities lending transactions 3.0 2.6 0.0 0.4 3.5 3.2 0.0 0.3 Obligation to return securities received as collateral, at fair value 37.7 32.4 0.0 5.3 49.9 43.4 0.0 6.5 Total financial liabilities subject to enforceable master netting agreements 62.8 51.4 0.0 11.4 82.3 67.0 0.0 15.3 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, 2021 | |
Tax | 25 Tax The 2Q21 income tax charge of CHF 566 million, resulting in an effective tax rate of 69.6% Net deferred tax assets related to net operating losses (NOL), 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 NOL 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 NOL 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, 2021, the Group had accumulated undistributed earnings from foreign subsidiaries of CHF 19.4 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 60 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 – 2016; Switzerland – 2015 (federal and Zurich cantonal level); the UK – 2012; the Netherlands – 2011; and the US – 2010. Effective tax rate in 2Q21 1Q21 2Q20 6M21 6M20 Effective tax rate (%) 69.6 69.5 25.2 71.4 10.2 Tax expense reconciliation in 2Q21 Income tax expense computed at the Swiss statutory tax rate of 18.5% (CHF million) 150 Increase/(decrease) in income taxes resulting from Foreign tax rate differential (45) Changes in tax law and rates (31) Other non-deductible expenses 140 Changes in deferred tax valuation allowance 292 Lower taxed income (40) Income taxable to noncontrolling interests 15 (Windfall tax benefits)/shortfall tax charges on share-based compensation 31 Other 54 Income tax expense 566 Foreign tax rate differential 2Q21 included a foreign tax impact of CHF 45 million, mainly driven by the estimated current year earnings mix. Changes in tax law and rates 2Q21 included the impact of CHF 31 million related to the tax rate change in the UK. Other non-deductible expenses 2Q21 included the impact of CHF 140 million relating to non-deductible interest expenses, the UK bank levy and other non-deductible expenses. Changes in deferred tax valuation allowance 2Q21 included the impact of the estimated current year earnings, resulting in an increase in the valuation allowance of CHF 310 million, mainly in respect of the Group’s operating entities in the UK. This was partially offset by a decrease in the valuation allowance of CHF 18 million, mainly in respect of one of the Group’s operating entities in Switzerland. Lower taxed income 2Q21 primarily included the impact of CHF 26 million related to non-taxable life insurance income and CHF 13 million related to non-taxable dividend income. The remaining balance included various smaller items. Other 2Q21 included the impact of CHF 54 million, which mainly reflected the tax impact of CHF 26 million relating to withholding taxes, CHF 25 million relating to an accounting standard implementation transition adjustment for own credit movements, CHF 10 million relating to the current year base erosion and anti-abuse tax (BEAT) provision, CHF 7 million relating to own credit valuation movements and CHF 5 million relating to tax contingency accruals. This was partially offset by the tax benefit of CHF 22 million relating to prior years’ adjustments. The remaining balance included various smaller items. Net deferred tax assets end of 2Q21 1Q21 Net deferred tax assets (CHF million) Deferred tax assets 4,201 3,964 of which net operating losses 1,380 1,011 of which deductible temporary differences 2,821 2,953 Deferred tax liabilities (578) (557) Net deferred tax assets 3,623 3,407 |
Bank | |
Tax | 24 Tax The 6M21 income tax expense of CHF 6 million, resulting in an effective tax rate of 40.0% Net deferred tax assets related to net operating losses (NOL), 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 NOL 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 NOL 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, 2021, the Bank had accumulated undistributed earnings from foreign subsidiaries of CHF 19.0 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 60 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 – 2016; Switzerland – 2015 (federal and Zurich cantonal level); the UK – 2012; the Netherlands – 2011, and the US – 2010. Effective tax rate in 6M21 6M20 Effective tax rate (%) 40.0 9.5 Tax expense reconciliation in 6M21 Income tax expense computed at the Swiss statutory tax rate of 18.5% (CHF million) 3 Increase/(decrease) in income taxes resulting from Foreign tax rate differential (50) Changes in tax law and rates (27) Other non-deductible expenses 49 Changes in deferred tax valuation allowance 49 Lower taxed income (7) Income taxable to noncontrolling interests 2 (Windfall tax benefits)/shortfall tax charges on share-based compensation 29 Other (42) Income tax expense 6 Foreign tax rate differential 6M21 included a foreign tax impact of CHF 50 million, mainly driven by the estimated current year earnings mix. Changes in tax law and rates 6M21 included the impact of CHF 27 million related to the tax rate change in the UK. Other non-deductible expenses 6M21 included the impact of CHF 49 million relating to non-deductible interest expenses, the UK bank levy and other non-deductible costs. Changes in deferred tax valuation allowance 6M21 included the impact of the estimated current year earnings, resulting in an increase in the valuation allowance of CHF 54 million, mainly in respect of the Bank’s operating entities in the UK. This was partially offset by a decrease in the valuation allowance of CHF 5 million, mainly in respect of one of the Bank’s operating entities in Switzerland. Lower taxed income 6M21 primarily included the impacts of CHF 4 million related to non-taxable life insurance income and CHF 3 million related to non-taxable dividend income. The remaining balance included various smaller items. Other 6M21 included a tax benefit of CHF 42 million, which mainly reflected the tax impact of CHF 44 million relating to prior years’ adjustments and CHF 10 million relating to tax contingency accruals. This was partially offset by CHF 5 million relating to withholding taxes, CHF 4 million relating to an accounting standard implementation transition adjustment for own credit movements and CHF 1 million relating to the current year base erosion and anti-abuse tax (BEAT) provision. The remaining balance included various smaller items. Net deferred tax assets end of 6M21 2020 Net deferred tax assets (CHF million) Deferred tax assets 4,155 3,630 of which net operating losses 1,371 1,064 of which deductible temporary differences 2,784 2,566 Deferred tax liabilities (164) (157) Net deferred tax assets 3,991 3,473 |
Employee deferred compensation
Employee deferred compensation | 6 Months Ended |
Jun. 30, 2021 | |
Employee deferred compensation | 26 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 30 – Employee deferred compensation” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 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 2Q21 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 2Q21 1Q21 2Q20 6M21 6M20 Deferred compensation expense (CHF million) Share awards 142 134 144 276 299 Performance share awards 111 109 120 220 233 Contingent Capital Awards 83 61 100 144 86 Deferred cash awards 102 49 138 151 148 Retention awards 26 13 10 39 19 Total deferred compensation expense 464 366 512 830 785 Estimated unrecognized deferred compensation end of 2Q21 Estimated unrecognized compensation expense (CHF million) Share awards 670 Performance share awards 392 Contingent Capital Awards 275 Deferred cash awards 333 Retention Awards 307 Total 1,977 Aggregate remaining weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 Deferred cash awards In 2Q21, the Group granted deferred fixed cash compensation of CHF 12 million to certain employees in the Americas. This compensation will be expensed mainly in the Investment Bank division over a three-year vesting period from the grant date. Amortization of this compensation in 2Q21 totaled CHF 32 million, of which CHF 3 million was related to awards granted in 2Q21. In 3Q21, the Group granted deferred fixed cash compensation of CHF 95 million to certain employees in the Americas. This compensation will be expensed mainly in the Investment Bank division over a three-year vesting period from the grant date. Retention awards In 2Q21, the Group granted deferred cash and share retention awards of CHF 235 million, mainly in the Investment Bank division. These awards will be expensed over the applicable vesting period from the grant date. Amortization of retention awards in 2Q21 totaled CHF 26 million, of which CHF 9 million was related to awards granted in 2Q21. In 3Q21, the Group granted deferred share retention awards of CHF 24 million in the Investment Bank division. These awards will be expensed over the applicable vesting period from the grant date. Share-based award activity 2Q21 6M21 Performance Performance Share-based award activities Balance at beginning of period 175.1 126.3 126.3 91.7 Granted 24.1 0.0 78.1 37.8 Settled (45.7) (30.1) (50.4) (33.0) Forfeited (2.4) (0.7) (2.9) (1.0) Balance at end of period 151.1 95.5 151.1 95.5 of which vested 12.8 13.9 12.8 13.9 of which unvested 138.3 81.6 138.3 81.6 |
Bank | |
Employee deferred compensation | 25 Employee deferred compensation > Refer to “Note 26 – Employee deferred compensation” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 and “Note 29 – Employee deferred compensation” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2020 for further information. Deferred compensation expense in 6M21 6M20 Deferred compensation expense (CHF million) Share awards 266 289 Performance share awards 213 220 Contingent Capital Awards 140 83 Deferred cash awards 169 143 Retention awards 39 19 Total deferred compensation expense 827 754 Estimated unrecognized deferred compensation end of 6M21 Estimated unrecognized compensation expense (CHF million) Share awards 652 Performance share awards 378 Contingent Capital Awards 265 Deferred cash awards 331 Retention awards 307 Total 1,933 Aggregate remaining weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 6M21 activity In 6M21, the Bank granted share awards, performance share awards, Contingent Capital Awards (CCA) and upfront cash awards as part of the 2020 deferred variable compensation. Expense recognition for these awards began in 6M21 and will continue over the remaining service or vesting period of each respective award. Share awards In 6M21, the Bank granted 76.5 million share awards at a weighted-average share price of CHF 11.52. 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. Under the UK 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 6M21, the Bank granted 36.6 million performance share awards at a weighted-average share price of CHF 12.44. 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 6M21, the Bank awarded CHF 245 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 6M21, the Bank granted deferred fixed cash compensation of CHF 163 million to certain employees in the Americas. This compensation will be expensed in the Investment Bank and International Wealth Management divisions over a three-year vesting period from the grant date. Amortization of this compensation in 6M21 totaled CHF 67 million, of which CHF 44 million was related to awards granted in 6M21. In 3Q21, the Bank granted deferred fixed cash compensation of CHF 95 million to certain employees in the Americas. This compensation will be expensed mainly in the Investment Bank division over a three-year vesting period from the grant date. In 6M21, the Bank granted upfront cash awards of CHF 59 million to certain managing directors and directors in the International Wealth Management division. Amortization of this compensation in 6M21 totaled CHF 43 million, of which CHF 15 million was related to awards granted in 6M21. Retention awards In 6M21, the Bank granted deferred cash and share retention awards of CHF 322 million, mainly in the Investment Bank division. These awards will be expensed over the applicable vesting period from the grant date. Amortization of retention awards in 6M21 totaled CHF 39 million, of which CHF 31 million was related to awards granted in 6M21. In 3Q21, the Bank granted deferred share retention awards of CHF 24 million in the Investment Bank division. These awards will be expensed over the applicable vesting period from the grant date. Share-based award activity 6M21 Performance Share-based award activities Balance at beginning of period 115.2 88.0 Granted 76.5 36.6 Settled (47.7) (31.8) Forfeited (2.7) (1.0) Balance at end of period 141.3 91.8 of which vested 11.3 13.0 of which unvested 130.0 78.8 |
Pension and other post-retireme
Pension and other post-retirement benefits | 6 Months Ended |
Jun. 30, 2021 | |
Pension and other post-retirement benefits | 27 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 recognized expenses of CHF 60 million, CHF 70 million, CHF 58 million, CHF 130 million and CHF 154 million, related to its defined contribution pension plans in 2Q21, 1Q21, 2Q20, 6M21 and 6M20, respectively. > Refer to “Note 32 – Pension and other post-retirement benefits” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information. The Group expects to contribute CHF 338 million to the Swiss and international defined benefit plans and other post-retirement defined benefit plans in 2021. As of the end of 2Q21, CHF 180 million of contributions have been made. Components of net periodic benefit costs in 2Q21 1Q21 2Q20 6M21 6M20 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 60 60 55 120 109 Interest costs on benefit obligation 15 15 23 30 47 Expected return on plan assets (120) (123) (109) (243) (219) Amortization of recognized prior service cost/(credit) (31) (29) (41) (60) (83) Amortization of recognized actuarial losses 93 93 87 186 174 Settlement losses/(gains) 2 (10) 2 (8) 5 Curtailment losses/(gains) 2 (1) 0 1 0 Special termination benefits 3 10 0 13 3 Net periodic benefit costs 24 15 17 39 36 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 or, except for 2Q20 and 6M20, in restructuring expenses. |
Bank | |
Pension and other post-retirement benefits | 26 Pension and other post-retirement benefits > Refer to “Note 27 – Pension and other post-retirement benefits” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 and “Note 31 – Pension and other post-retirement benefits” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2020 for further information. The Bank contributed and recognized expenses of CHF 243 million and CHF 264 million related to its defined contribution pension plans in 6M21 and 6M20, respectively. The Bank expects to contribute CHF 16 million to the international single-employer defined benefit pension plans and CHF 11 million to other post-retirement defined benefit plans in 2021. As of the end of 6M21, CHF 10 million and CHF 5 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 6M21 6M20 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 7 8 Interest costs on benefit obligation 25 37 Expected return on plan assets (34) (44) Amortization of recognized prior service cost/(credit) 1 1 Amortization of recognized actuarial losses 8 7 Settlement losses/(gains) (10) 0 Net periodic benefit costs (3) 9 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, 2021 | |
Derivatives and hedging activities | 28 Derivatives and hedging activities > Refer to “Note 33 – Derivatives and hedging activities” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 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 31 – 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 4,305.9 1.4 1.3 0.0 0.0 0.0 Swaps 9,045.8 43.3 39.1 140.6 0.7 0.1 Options bought and sold (OTC) 884.8 13.0 12.8 0.0 0.0 0.0 Futures 341.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 140.1 0.1 0.2 0.0 0.0 0.0 Interest rate products 14,717.9 57.8 53.4 140.6 0.7 0.1 Forwards 996.1 7.8 6.6 21.0 0.2 0.0 Swaps 355.3 9.6 11.8 0.0 0.0 0.2 Options bought and sold (OTC) 240.3 2.4 2.7 0.0 0.0 0.0 Futures 17.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.6 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,609.8 19.8 21.1 21.0 0.2 0.2 Forwards 1.0 0.0 0.3 0.0 0.0 0.0 Swaps 121.3 1.9 4.7 0.0 0.0 0.0 Options bought and sold (OTC) 258.8 15.7 11.8 0.0 0.0 0.0 Futures 41.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 608.3 23.3 22.2 0.0 0.0 0.0 Equity/index-related products 1,031.0 40.9 39.0 0.0 0.0 0.0 Credit derivatives 2 594.3 5.1 6.3 0.0 0.0 0.0 Forwards 16.0 0.2 0.2 0.0 0.0 0.0 Swaps 11.4 1.1 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 18.4 0.3 0.2 0.0 0.0 0.0 Futures 12.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 11.8 0.1 0.1 0.0 0.0 0.0 Other products 3 70.5 1.7 1.1 0.0 0.0 0.0 Total derivative instruments 18,023.5 125.3 120.9 161.6 0.9 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 18,185.1 billion, CHF 126.2 billion and CHF 121.2 billion, respectively, as of June 30, 2021. 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 5,221.5 2.7 2.8 0.0 0.0 0.0 Swaps 8,087.8 53.5 50.2 126.1 0.9 0.1 Options bought and sold (OTC) 968.6 18.2 18.0 0.0 0.0 0.0 Futures 296.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 116.1 0.5 0.6 0.0 0.0 0.0 Interest rate products 14,690.6 74.9 71.6 126.1 0.9 0.1 Forwards 928.4 10.1 11.8 13.9 0.1 0.1 Swaps 345.8 10.9 13.4 0.0 0.0 0.0 Options bought and sold (OTC) 236.3 3.4 3.7 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) 1.0 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,520.3 24.4 28.9 13.9 0.1 0.1 Forwards 1.0 0.0 0.3 0.0 0.0 0.0 Swaps 167.6 4.3 8.8 0.0 0.0 0.0 Options bought and sold (OTC) 218.3 14.9 10.0 0.0 0.0 0.0 Futures 23.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 454.0 20.0 20.7 0.0 0.0 0.0 Equity/index-related products 864.4 39.2 39.8 0.0 0.0 0.0 Credit derivatives 2 467.8 4.9 6.0 0.0 0.0 0.0 Forwards 12.2 0.3 0.2 0.0 0.0 0.0 Swaps 9.8 1.1 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 14.8 0.3 0.2 0.0 0.0 0.0 Futures 4.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 11.6 0.1 0.1 0.0 0.0 0.0 Other products 3 52.6 1.8 1.0 0.0 0.0 0.0 Total derivative instruments 17,595.7 145.2 147.3 140.0 1.0 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 17,735.7 billion, CHF 146.2 billion and CHF 147.5 billion, respectively, as of December 31, 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. Netting of derivative instruments > Refer to “Derivatives” in Note 24 – Offsetting of financial assets and financial liabilities for further information on the netting of derivative instruments. Gains or (losses) on fair value hedges in 2Q21 1Q21 2Q20 6M21 6M20 Interest rate products (CHF million) Hedged items 1 (288) 1,156 (205) 868 (2,374) Derivatives designated as hedging instruments 1 264 (1,096) 212 (832) 2,226 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 2Q21 4Q20 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets (CHF billion) Investment securities 0.6 0.0 0.0 0.4 0.0 0.0 Net loans 21.6 (0.1) 0.4 20.5 0.2 0.5 Liabilities (CHF billion) Long-term debt 75.5 0.8 0.7 65.8 1.9 0.8 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 2Q21 1Q21 2Q20 6M21 6M20 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives (23) (96) 21 (119) 288 Gains/(losses) reclassified from AOCI into interest and dividend income 7 3 0 10 (42) Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives 0 4 (5) 4 (84) Trading revenues 0 0 0 0 (30) Total other operating expenses 15 10 (5) 25 (11) Gains/(losses) reclassified from AOCI into income 15 10 (5) 25 (41) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 0 0 0 0 1 1 1 Related to the forward points of a foreign currency forward. As of the end of 2Q21, 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 50 million. Net investment hedges in 2Q21 1Q21 2Q20 6M21 6M20 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI 7 (262) (38) (255) 481 Gains/(losses) reclassified from the cumulative translation adjustments section of AOCI into other revenues 0 0 9 0 9 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 2Q21 4Q20 Special Special Contingent credit risk (CHF billion) Current net exposure 2.4 0.0 0.4 2.8 3.0 0.0 0.4 3.4 Collateral posted 2.1 0.0 – 2.1 2.4 0.0 – 2.4 Impact of a three-notch downgrade event 0.5 0.0 0.1 0.6 0.5 0.0 0.2 0.7 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 33 – Derivatives and hedging activities” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 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 14.3 billion and CHF 14.4 billion as of the end of 2Q21 and 4Q20 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 2Q21 4Q20 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (55.4) 52.3 (3.1) 11.7 0.5 (52.5) 47.8 (4.7) 13.0 0.5 Non-investment grade (32.3) 30.2 (2.1) 11.7 0.6 (28.5) 26.5 (2.0) 11.8 0.4 Total single-name instruments (87.7) 82.5 (5.2) 23.4 1.1 (81.0) 74.3 (6.7) 24.8 0.9 of which sovereign (13.1) 12.0 (1.1) 5.3 0.0 (12.5) 11.6 (0.9) 5.3 0.0 of which non-sovereign (74.6) 70.5 (4.1) 18.1 1.1 (68.5) 62.7 (5.8) 19.5 0.9 Multi-name instruments (CHF billion) Investment grade 2 (141.6) 136.8 (4.8) 28.8 (0.4) (99.5) 95.2 (4.3) 23.1 (0.7) Non-investment grade (34.1) 31.9 (2.2) 13.2 3 0.3 (24.3) 19.9 (4.4) 11.3 3 0.2 Total multi-name instruments (175.7) 168.7 (7.0) 42.0 (0.1) (123.8) 115.1 (8.7) 34.4 (0.5) of which non-sovereign (175.7) 168.7 (7.0) 42.0 (0.1) (123.8) 115.1 (8.7) 34.4 (0.5) Total instruments (CHF billion) Investment grade 2 (197.0) 189.1 (7.9) 40.5 0.1 (152.0) 143.0 (9.0) 36.1 (0.2) Non-investment grade (66.4) 62.1 (4.3) 24.9 0.9 (52.8) 46.4 (6.4) 23.1 0.6 Total instruments (263.4) 251.2 (12.2) 65.4 1.0 (204.8) 189.4 (15.4) 59.2 0.4 of which sovereign (13.1) 12.0 (1.1) 5.3 0.0 (12.5) 11.6 (0.9) 5.3 0.0 of which non-sovereign (250.3) 239.2 (11.1) 60.1 1.0 (192.3) 177.8 (14.5) 53.9 0.4 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 2Q21 4Q20 Credit derivatives (CHF billion) Credit protection sold 263.4 204.8 Credit protection purchased 251.2 189.4 Other protection purchased 65.4 59.2 Other instruments 1 14.3 14.4 Total credit derivatives 594.3 467.8 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 2Q21 (CHF billion) Single-name instruments 13.7 69.9 4.1 87.7 Multi-name instruments 40.9 121.9 12.9 175.7 Total instruments 54.6 191.8 17.0 263.4 4Q20 (CHF billion) Single-name instruments 14.0 62.7 4.3 81.0 Multi-name instruments 29.6 82.6 11.6 123.8 Total instruments 43.6 145.3 15.9 204.8 |
Bank | |
Derivatives and hedging activities | 27 Derivatives and hedging activities > Refer to “Note 32 – Derivatives and hedging activities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2020 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 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 4,305.9 1.4 1.3 0.0 0.0 0.0 Swaps 9,053.7 43.4 39.1 137.1 0.7 0.1 Options bought and sold (OTC) 884.8 13.0 12.8 0.0 0.0 0.0 Futures 341.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 140.1 0.1 0.2 0.0 0.0 0.0 Interest rate products 14,725.8 57.9 53.4 137.1 0.7 0.1 Forwards 996.1 7.8 6.6 21.0 0.2 0.2 Swaps 355.3 9.6 11.8 0.0 0.0 0.0 Options bought and sold (OTC) 240.3 2.4 2.7 0.0 0.0 0.0 Futures 17.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.6 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,609.8 19.8 21.1 21.0 0.2 0.2 Forwards 1.0 0.0 0.3 0.0 0.0 0.0 Swaps 121.3 1.9 4.7 0.0 0.0 0.0 Options bought and sold (OTC) 258.8 15.7 11.8 0.0 0.0 0.0 Futures 41.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 608.3 23.3 22.2 0.0 0.0 0.0 Equity/index-related products 1,031.0 40.9 39.0 0.0 0.0 0.0 Credit derivatives 2 594.3 5.1 6.3 0.0 0.0 0.0 Forwards 16.0 0.2 0.2 0.0 0.0 0.0 Swaps 11.4 1.1 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 18.4 0.3 0.2 0.0 0.0 0.0 Futures 12.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 11.8 0.1 0.1 0.0 0.0 0.0 Other products 3 70.5 1.7 1.1 0.0 0.0 0.0 Total derivative instruments 18,031.4 125.4 120.9 158.1 0.9 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 18,189.5 billion, CHF 126.3 billion and CHF 121.2 billion, respectively, as of June 30, 2021. 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 5,221.5 2.7 2.8 0.0 0.0 0.0 Swaps 8,088.7 53.5 50.3 126.1 0.9 0.1 Options bought and sold (OTC) 968.6 18.2 18.0 0.0 0.0 0.0 Futures 296.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 116.1 0.5 0.6 0.0 0.0 0.0 Interest rate products 14,691.5 74.9 71.7 126.1 0.9 0.1 Forwards 928.4 10.1 11.8 13.9 0.1 0.1 Swaps 345.8 10.9 13.4 0.0 0.0 0.0 Options bought and sold (OTC) 236.3 3.4 3.7 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) 1.0 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,520.3 24.4 28.9 13.9 0.1 0.1 Forwards 1.0 0.0 0.3 0.0 0.0 0.0 Swaps 167.6 4.3 8.8 0.0 0.0 0.0 Options bought and sold (OTC) 218.3 14.9 10.0 0.0 0.0 0.0 Futures 23.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 454.0 20.0 20.7 0.0 0.0 0.0 Equity/index-related products 864.4 39.2 39.8 0.0 0.0 0.0 Credit derivatives 2 467.8 4.9 6.0 0.0 0.0 0.0 Forwards 12.2 0.3 0.2 0.0 0.0 0.0 Swaps 9.8 1.1 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 14.8 0.3 0.2 0.0 0.0 0.0 Futures 4.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 11.6 0.1 0.1 0.0 0.0 0.0 Other products 3 52.6 1.8 1.0 0.0 0.0 0.0 Total derivative instruments 17,596.6 145.2 147.4 140.0 1.0 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 17,736.6 billion, CHF 146.2 billion and CHF 147.6 billion, respectively, as of December 31, 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. Netting of derivative instruments > Refer to “Note 23 – Offsetting of financial assets and financial liabilities” for further information on the offsetting of derivative instruments. Gains or losses on fair value hedges in 6M21 6M20 Interest rate products (CHF million) Hedged items 1 776 (2,374) Derivatives designated as hedging instruments 1 (740) 2,226 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 6M21 2020 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets (CHF billion) Investment securities 0.6 0.0 0.0 0.4 0.0 0.0 Net loans 21.6 (0.1) 0.4 20.5 0.2 0.5 Liabilities (CHF billion) Long-term debt 72.1 0.9 0.7 65.8 1.9 0.8 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 6M21 6M20 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives (119) 288 Gains/(losses) reclassified from AOCI into interest and dividend income 10 (42) Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives 4 (84) Trading revenues 0 (30) Total other operating expenses 25 (11) Gains/(losses) reclassified from AOCI into income 25 (41) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 1 0 1 1 Related to the forward points of a foreign currency forward. As of the end of 6M21, 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 50 million. Net investment hedges in 6M21 6M20 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI (248) 476 Gains/(losses) reclassified from the cumulative translation adjustments section of AOCI into other revenues 0 9 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 6M21 2020 Special Special Contingent credit risk (CHF billion) Current net exposure 2.4 0.0 0.4 2.8 3.0 0.0 0.4 3.4 Collateral posted 2.1 0.0 – 2.1 2.4 0.0 – 2.4 Impact of a three-notch downgrade event 0.5 0.0 0.1 0.6 0.5 0.0 0.2 0.7 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 VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2020 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 14.3 billion and CHF 14.4 billion as of the end of 6M21 and 2020, 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 6M21 2020 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (55.4) 52.3 (3.1) 11.7 0.5 (52.5) 47.8 (4.7) 13.0 0.5 Non-investment grade (32.3) 30.2 (2.1) 11.7 0.6 (28.5) 26.5 (2.0) 11.8 0.4 Total single-name instruments (87.7) 82.5 (5.2) 23.4 1.1 (81.0) 74.3 (6.7) 24.8 0.9 of which sovereign (13.1) 12.0 (1.1) 5.3 0.0 (12.5) 11.6 (0.9) 5.3 0.0 of which non-sovereign (74.6) 70.5 (4.1) 18.1 1.1 (68.5) 62.7 (5.8) 19.5 0.9 Multi-name instruments (CHF billion) Investment grade 2 (141.6) 136.8 (4.8) 28.8 (0.4) (99.5) 95.2 (4.3) 23.1 (0.7) Non-investment grade (34.1) 31.9 (2.2) 13.2 3 0.3 (24.3) 19.9 (4.4) 11.3 3 0.2 Total multi-name instruments (175.7) 168.7 (7.0) 42.0 (0.1) (123.8) 115.1 (8.7) 34.4 (0.5) of which non-sovereign (175.7) 168.7 (7.0) 42.0 (0.1) (123.8) 115.1 (8.7) 34.4 (0.5) Total instruments (CHF billion) Investment grade 2 (197.0) 189.1 (7.9) 40.5 0.1 (152.0) 143.0 (9.0) 36.1 (0.2) Non-investment grade (66.4) 62.1 (4.3) 24.9 0.9 (52.8) 46.4 (6.4) 23.1 0.6 Total instruments (263.4) 251.2 (12.2) 65.4 1.0 (204.8) 189.4 (15.4) 59.2 0.4 of which sovereign (13.1) 12.0 (1.1) 5.3 0.0 (12.5) 11.6 (0.9) 5.3 0.0 of which non-sovereign (250.3) 239.2 (11.1) 60.1 1.0 (192.3) 177.8 (14.5) 53.9 0.4 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 6M21 2020 Credit derivatives (CHF billion) Credit protection sold 263.4 204.8 Credit protection purchased 251.2 189.4 Other protection purchased 65.4 59.2 Other instruments 1 14.3 14.4 Total credit derivatives 594.3 467.8 1 Consists of total return swaps and other derivative instruments. Maturity of credit protection sold Maturity Maturity Maturity 6M21 (CHF billion) Single-name instruments 13.7 69.9 4.1 87.7 Multi-name instruments 40.9 121.9 12.9 175.7 Total instruments 54.6 191.8 17.0 263.4 2020 (CHF billion) Single-name instruments 14.0 62.7 4.3 81.0 Multi-name instruments 29.6 82.6 11.6 123.8 Total instruments 43.6 145.3 15.9 204.8 |
Guarantees and commitments
Guarantees and commitments | 6 Months Ended |
Jun. 30, 2021 | |
Guarantees and commitments | 29 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 34 – Guarantees and commitments in the Credit Suisse Annual Report 2020 for a detailed description of guarantees. Guarantees Maturity Maturity Total Total 1 2Q21 (CHF million) Credit guarantees and similar instruments 2,411 1,921 4,332 4,268 20 2,195 Performance guarantees and similar instruments 4,484 2,868 7,352 6,223 38 2,706 Derivatives 2 11,082 4,968 16,050 16,050 403 – 3 Other guarantees 4,102 2,131 6,233 6,189 61 3,705 Total guarantees 22,079 11,888 33,967 32,730 522 8,606 4Q20 (CHF million) Credit guarantees and similar instruments 1,645 1,434 3,079 3,016 27 1,637 Performance guarantees and similar instruments 3,607 2,925 6,532 5,601 30 2,535 Derivatives 2 10,531 6,042 16,573 16,573 380 – 3 Other guarantees 3,555 2,588 6,143 6,130 85 3,725 Total guarantees 19,338 12,989 32,327 31,320 522 7,897 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, 2020 to June 30, 2021 was CHF 0.5 billion. These deposit insurance guarantees were reflected in other guarantees. Representations and warranties on residential mortgage loans sold In connection with the Investment Bank 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; loan-to-value (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 33 – 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 34 – Guarantees and commitments in the Credit Suisse Annual Report 2020 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 34 – Guarantees and commitments in the Credit Suisse Annual Report 2020 for a description of these commitments. Other commitments 2Q21 4Q20 Maturity Maturity Total Total 1 Maturity Maturity Total Total 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 4,446 82 4,528 4,279 2,469 3,915 97 4,012 3,963 2,404 Irrevocable loan commitments 2 24,764 105,111 129,875 125,484 60,786 19,813 99,209 119,022 115,116 53,039 Forward reverse repurchase agreements 71 0 71 71 71 17 0 17 17 17 Other commitments 1,815 322 2,137 2,137 16 135 1,808 1,943 1,943 19 Total other commitments 31,096 105,515 136,611 131,971 63,342 23,880 101,114 124,994 121,039 55,479 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 144,958 million and CHF 130,877 million of unused credit limits as of the end of 2Q21 and 4Q20 respectively, which were revocable at the Group's sole discretion upon notice to the client. |
Bank | |
Guarantees and commitments | 28 Guarantees and commitments > Refer to “Note 29 – Guarantees and commitments” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 and to “Note 33 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2020 for further information. Guarantees Maturity Maturity 1 6M21 (CHF million) Credit guarantees and similar instruments 2,411 1,925 4,336 4,272 20 2,195 Performance guarantees and similar instruments 4,484 2,868 7,352 6,223 38 2,706 Derivatives 2 11,082 4,968 16,050 16,050 403 – 3 Other guarantees 4,102 2,131 6,233 6,189 61 3,705 Total guarantees 22,079 11,892 33,971 32,734 522 8,606 2020 (CHF million) Credit guarantees and similar instruments 1,645 1,438 3,083 3,020 27 1,637 Performance guarantees and similar instruments 3,607 2,925 6,532 5,601 30 2,535 Derivatives 2 10,531 6,042 16,573 16,573 380 – 3 Other guarantees 3,555 2,588 6,143 6,130 85 3,725 Total guarantees 19,338 12,993 32,331 31,324 522 7,897 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, 2020 to June 30, 2021 was CHF 0.5 billion. These deposit insurance guarantees were reflected in other guarantees. 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 29 – Guarantees and commitments” in III – Consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 and to “Note 33 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2020 for further information. Other commitments 6M21 2020 Maturity Maturity 1 Maturity Maturity 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 4,446 82 4,528 4,279 2,469 3,915 97 4,012 3,963 2,404 Irrevocable loan commitments 24,764 105,111 129,875 2 125,484 60,786 19,813 99,209 119,022 2 115,116 53,039 Forward reverse repurchase agreements 71 0 71 71 71 17 0 17 17 17 Other commitments 1,815 322 2,137 2,137 16 135 1,808 1,943 1,943 19 Total other commitments 31,096 105,515 136,611 131,971 63,342 23,880 101,114 124,994 121,039 55,479 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 145,045 million and CHF 130,965 million of unused credit limits as of the end of 6M21 and 2020, 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, 2021 | |
Transfers of financial assets and variable interest entities | 30 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, 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), residential mortgage-backed securities (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 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 6M21 and 6M20 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 6M21 6M20 Gains/(losses) and cash flows (CHF million) CMBS Net gain 1 0 30 Proceeds from transfer of assets 999 4,862 Cash received on interests that continue to be held 26 21 RMBS Net gain 1 62 22 Proceeds from transfer of assets 20,876 11,373 Purchases of previously transferred financial assets or its underlying collateral (1,072) 0 Servicing fees 1 1 Cash received on interests that continue to be held 430 457 Other asset-backed financings Net gain 1 47 61 Proceeds from transfer of assets 6,802 4,766 Purchases of previously transferred financial assets or its underlying collateral (699) (638) Fees 2 81 72 Cash received on interests that continue to be held 7 11 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 “Transfers of financial assets” in VI – Consolidated financial statements – Credit Suisse Group – Note 35 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2020 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 2Q21 and 4Q20, regardless of when the transfer of assets occurred. Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 2Q21 4Q20 CHF million CMBS Principal amount outstanding 16,247 17,421 Total assets of SPE 23,079 24,455 RMBS Principal amount outstanding 58,318 47,324 Total assets of SPE 58,318 47,863 Other asset-backed financings Principal amount outstanding 26,307 24,968 Total assets of SPE 55,188 50,817 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 31 – 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 6M21 6M20 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 92 1,337 172 1,646 of which level 2 82 1,019 158 1,465 of which level 3 10 318 14 181 Weighted-average life, in years 7.4 5.0 8.1 3.6 Prepayment speed assumption (rate per annum), in % 1 – 2 3.0 – 32.8 – 2 1.0 – 38.2 Cash flow discount rate (rate per annum), in % 3 1.8 – 4.5 1.0 – 15.4 1.4 – 9.2 0.7 – 24.7 Expected credit losses (rate per annum), in % 4 0.9 – 3.9 0.1 – 13.7 4.0 – 8.6 3.3 – 22.9 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 2Q21 and 4Q20. Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 2Q21 4Q20 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 232 2,382 319 296 1,851 350 of which non-investment grade 38 330 18 36 631 23 Weighted-average life, in years 6.0 4.0 5.5 5.6 4.0 4.8 Prepayment speed assumption (rate per annum), in % 3 – 5.2 – 30.0 – – 4.0 – 50.1 – Impact on fair value from 10% adverse change – (40.0) – – (43.7) – Impact on fair value from 20% adverse change – (78.0) – – (92.1) – Cash flow discount rate (rate per annum), in % 4 1.7 – 31.5 0.7 – 29.7 0.3 – 28.0 0.6 – 38.2 0.3 – 39.7 0.7 – 27.7 Impact on fair value from 10% adverse change (2.9) (32.5) (3.7) (4.9) (22.4) (4.2) Impact on fair value from 20% adverse change (5.6) (62.7) (7.3) (9.6) (43.5) (8.2) Expected credit losses (rate per annum), in % 5 0.9 – 13.0 0.2 – 28.6 0.3 – 28.0 0.4 – 14.7 0.6 – 39.6 0.7 – 26.8 Impact on fair value from 10% adverse change (1.8) (25.9) (3.5) (4.3) (20.2) (4.5) Impact on fair value from 20% adverse change (3.5) (50.2) (6.8) (8.5) (39.2) (8.9) 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 2Q21 and 4Q20. > Refer to “Note 32 – Assets pledged and collateral” for further information. Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 2Q21 4Q20 CHF million Other asset-backed financings Trading assets 721 496 Other assets 198 246 Liability to SPE, included in other liabilities (919) (742) 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 2Q21 and 4Q20. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 2Q21 4Q20 CHF billion Government debt securities 15.8 12.1 Corporate debt securities 8.6 7.7 Asset-backed securities 4.3 6.0 Other 3.0 1.9 Securities sold under repurchase agreements 31.7 27.7 Government debt securities 0.2 0.4 Corporate debt securities 0.3 0.1 Equity securities 3.3 3.5 Other 0.0 0.1 Securities lending transactions 3.8 4.1 Government debt securities 4.7 5.8 Corporate debt securities 4.4 5.6 Equity securities 29.4 39.3 Other 0.2 0.1 Obligation to return securities received as collateral, at fair value 38.7 50.8 Total 74.2 82.6 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities No stated 1 Up to 2 31–90 More than 2Q21 (CHF billion) Securities sold under repurchase agreements 3.4 16.4 2.6 9.3 31.7 Securities lending transactions 3.8 0.0 0.0 0.0 3.8 Obligation to return securities received as collateral, at fair value 38.6 0.0 0.0 0.1 38.7 Total 45.8 16.4 2.6 9.4 74.2 4Q20 (CHF billion) Securities sold under repurchase agreements 5.8 11.8 5.9 4.2 27.7 Securities lending transactions 4.0 0.0 0.1 0.0 4.1 Obligation to return securities received as collateral, at fair value 50.2 0.3 0.3 0.0 50.8 Total 60.0 12.1 6.3 4.2 82.6 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. > Refer to “Note 24 – 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 35 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2020 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 215 days as of the end of 2Q21. 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. 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 is 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 2Q21 and 4Q20. Consolidated VIEs in which the Group was the primary beneficiary Financial intermediation CP Securi- 2Q21 (CHF million) Cash and due from banks 0 39 16 21 171 247 Trading assets 0 1,068 54 788 6 1,916 Other investments 0 0 109 877 245 1,231 Net loans 603 0 61 22 0 686 Other assets 24 540 31 82 811 1,488 of which loans held-for-sale 0 57 26 0 0 83 of which premises and equipment 0 0 0 29 0 29 Total assets of consolidated VIEs 627 1,647 271 1,790 1,233 5,568 Customer deposits 0 0 0 0 1 1 Trading liabilities 0 0 0 9 0 9 Short-term borrowings 4,700 29 0 0 1,755 1 6,484 Long-term debt 93 1,180 0 3 43 1,319 Other liabilities 70 1 4 70 92 237 Total liabilities of consolidated VIEs 4,863 1,210 4 82 1,891 8,050 4Q20 (CHF million) Cash and due from banks 0 23 22 37 8 90 Trading assets 0 1,255 50 840 19 2,164 Other investments 0 0 129 920 202 1,251 Net loans 653 0 51 29 167 900 Other assets 21 979 15 82 779 1,876 of which loans held-for-sale 0 462 10 0 0 472 of which premises and equipment 0 0 0 30 4 34 Total assets of consolidated VIEs 674 2,257 267 1,908 1,175 6,281 Customer deposits 0 0 0 0 1 1 Trading liabilities 0 0 0 10 0 10 Short-term borrowings 4,178 0 0 0 0 4,178 Long-term debt 0 1,701 0 10 35 1,746 Other liabilities 53 1 3 73 78 208 Total liabilities of consolidated VIEs 4,231 1,702 3 93 114 6,143 1 Reflects the Group’s MCNs outstanding as of the end of 2Q21; these MCNs were issued by Credit Suisse Group (Guernsey) VII Limited, a consolidated VIE of the Group. 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 35 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2020 for further information on non-consolidated VIEs. Non-consolidated VIEs Financial intermediation CDO/ CP 1 Securi- 2Q21 (CHF million) Trading assets 257 0 4,480 921 24 7,930 13,612 Net loans 631 547 365 2,770 8,778 1,375 14,466 Other assets 7 0 302 177 0 546 1,032 Total variable interest assets 895 547 5,147 3,868 8,802 9,851 29,110 Maximum exposure to loss 1,532 5,966 7,887 3,868 13,568 10,593 43,414 Total assets of non-consolidated VIEs 11,001 12,544 106,170 163,757 37,131 31,092 361,695 4Q20 (CHF million) Trading assets 250 0 4,500 1,113 66 8,617 14,546 Net loans 357 371 734 1,967 6,989 939 11,357 Other assets 2 0 3 119 0 344 468 Total variable interest assets 609 371 5,237 3,199 7,055 9,900 26,371 Maximum exposure to loss 852 5,538 7,329 3,199 11,235 10,226 38,379 Total assets of non-consolidated VIEs 8,553 11,148 127,785 89,686 26,186 33,140 296,498 1 Includes liquidity facilities provided to third-party CP conduits through Alpine Securities Ltd. |
Bank | |
Transfers of financial assets and variable interest entities | 29 Transfers of financial assets and variable interest entities > Refer to “Note 30 – Transfers of financial assets and variable interest entities“ in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 and “Note 34 – Transfers of financial assets and variable interest entities“ in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2020 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 6M21 and 6M20 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 still has continuing involvement, regardless of when the securitization occurred. Securitizations in 6M21 6M20 Gains/(losses) and cash flows (CHF million) CMBS Net gain 1 0 30 Proceeds from transfer of assets 999 4,862 Cash received on interests that continue to be held 26 21 RMBS Net gain 1 62 22 Proceeds from transfer of assets 20,876 11,373 Purchases of previously transferred financial assets or its underlying collateral (1,072) 0 Servicing fees 1 1 Cash received on interests that continue to be held 430 457 Other asset-backed financings Net gain 1 47 61 Proceeds from transfer of assets 6,802 4,766 Purchases of previously transferred financial assets or its underlying collateral (699) (638) Fees 2 81 72 Cash received on interests that continue to be held 7 11 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 6M21 and 2020, regardless of when the transfer of assets occurred. Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 6M21 2020 CHF million CMBS Principal amount outstanding 16,247 17,421 Total assets of SPE 23,079 24,455 RMBS Principal amount outstanding 58,318 47,324 Total assets of SPE 58,318 47,863 Other asset-backed financings Principal amount outstanding 26,307 24,968 Total assets of SPE 55,188 50,817 Principal amount outstanding relates to assets transferred from the Bank 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 Bank may utilize to hedge the inherent risks. Key economic assumptions at the time of transfer > Refer to “Note 30 – Financial instruments” for information on fair value hierarchy levels. Key economic assumptions used in measuring fair value of beneficial interests at time of transfer 6M21 6M20 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 92 1,337 172 1,646 of which level 2 82 1,019 158 1,465 of which level 3 10 318 14 181 Weighted-average life, in years 7.4 5.0 8.1 3.6 Prepayment speed assumption (rate per annum), in % 1 – 2 3.0 – 32.8 – 2 1.0 – 38.2 Cash flow discount rate (rate per annum), in % 3 1.8 – 4.5 1.0 – 15.4 1.4 – 9.2 0.7 – 24.7 Expected credit losses (rate per annum), in % 4 0.9 – 3.9 0.1 – 13.7 4.0 – 8.6 3.3 – 22.9 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 6M21 and 2020. Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 6M21 2020 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 232 2,382 319 296 1,851 350 of which non-investment grade 38 330 18 36 631 23 Weighted-average life, in years 6.0 4.0 5.5 5.6 4.0 4.8 Prepayment speed assumption (rate per annum), in % 3 – 5.2 – 30.0 – – 4.0 – 50.1 – Impact on fair value from 10% adverse change – (40.0) – – (43.7) – Impact on fair value from 20% adverse change – (78.0) – – (92.1) – Cash flow discount rate (rate per annum), in % 4 1.7 – 31.5 0.7 – 29.7 0.3 – 28.0 0.6 – 38.2 0.3 – 39.7 0.7 – 27.7 Impact on fair value from 10% adverse change (2.9) (32.5) (3.7) (4.9) (22.4) (4.2) Impact on fair value from 20% adverse change (5.6) (62.7) (7.3) (9.6) (43.5) (8.2) Expected credit losses (rate per annum), in % 5 0.9 – 13.0 0.2 – 28.6 0.3 – 28.0 0.4 – 14.7 0.6 – 39.6 0.7 – 26.8 Impact on fair value from 10% adverse change (1.8) (25.9) (3.5) (4.3) (20.2) (4.5) Impact on fair value from 20% adverse change (3.5) (50.2) (6.8) (8.5) (39.2) (8.9) 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 6M21 and 2020. > Refer to “Note 31 – 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 6M21 2020 CHF million Other asset-backed financings Trading assets 721 496 Other assets 198 246 Liability to SPE, included in other liabilities (919) (742) 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 6M21 and 2020. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 6M21 2020 CHF billion Government debt securities 15.9 12.2 Corporate debt securities 8.6 7.7 Asset-backed securities 4.3 6.0 Other 3.0 1.8 Securities sold under repurchase agreements 31.8 27.7 Government debt securities 0.2 0.4 Corporate debt securities 0.3 0.1 Equity securities 3.3 3.5 Other 0.0 0.1 Securities lending transactions 3.8 4.1 Government debt securities 4.7 5.8 Corporate debt securities 4.4 5.6 Equity securities 29.4 39.3 Other 0.2 0.1 Obligation to return securities received as collateral, at fair value 38.7 50.8 Total 74.3 82.6 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities No stated 1 Up to 2 31-90 More than 6M21 (CHF billion) Securities sold under repurchase agreements 3.4 16.5 2.6 9.3 31.8 Securities lending transactions 3.8 0.0 0.0 0.0 3.8 Obligation to return securities received as collateral, at fair value 38.6 0.0 0.0 0.1 38.7 Total 45.8 16.5 2.6 9.4 74.3 2020 (CHF billion) Securities sold under repurchase agreements 5.8 11.8 5.9 4.2 27.7 Securities lending transactions 4.0 0.0 0.1 0.0 4.1 Obligation to return securities received as collateral, at fair value 50.2 0.3 0.3 0.0 50.8 Total 60.0 12.1 6.3 4.2 82.6 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 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 215 days as of the end of 6M21. 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. 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 6M21 and 2020. Consolidated VIEs in which the Bank was the primary beneficiary Financial intermediation CP Securi- 6M21 (CHF million) Cash and due from banks 0 39 16 21 171 247 Trading assets 0 1,068 54 788 6 1,916 Other investments 0 0 109 877 245 1,231 Net loans 603 0 61 22 0 686 Other assets 24 540 31 67 792 1,454 of which loans held-for-sale 0 57 26 0 0 83 of which premises and equipment 0 0 0 14 0 14 Total assets of consolidated VIEs 627 1,647 271 1,775 1,214 5,534 Customer deposits 0 0 0 0 1 1 Trading liabilities 0 0 0 9 0 9 Short-term borrowings 4,700 29 0 0 0 4,729 Long-term debt 93 1,180 0 3 43 1,319 Other liabilities 70 1 4 72 84 231 Total liabilities of consolidated VIEs 4,863 1,210 4 84 128 6,289 2020 (CHF million) Cash and due from banks 0 23 22 37 8 90 Trading assets 0 1,255 50 840 19 2,164 Other investments 0 0 129 920 202 1,251 Net loans 653 0 51 29 167 900 Other assets 21 979 15 65 778 1,858 of which loans held-for-sale 0 462 10 0 0 472 of which premises and equipment 0 0 0 13 4 17 Total assets of consolidated VIEs 674 2,257 267 1,891 1,174 6,263 Customer deposits 0 0 0 0 1 1 Trading liabilities 0 0 0 10 0 10 Short-term borrowings 4,178 0 0 0 0 4,178 Long-term debt 0 1,701 0 10 35 1,746 Other liabilities 53 1 3 72 78 207 Total liabilities of consolidated VIEs 4,231 1,702 3 92 114 6,142 Non-consolidated VIEs The non-consolidated VIEs table provides the carrying amounts and classification of the assets of variable interests recorded in the Bank’s consolidated balance sheets, maximum exposure to loss and total assets of the non-consolidated VIEs. Non-consolidated VIEs Financial intermediation CDO/ CP 1 Securi- 6M21 (CHF million) Trading assets 257 0 4,480 920 24 7,930 13,611 Net loans 631 547 365 2,770 8,778 1,375 14,466 Other assets 7 0 302 174 0 546 1,029 Total variable interest assets 895 547 5,147 3,864 8,802 9,851 29,106 Maximum exposure to loss 1,532 5,966 7,887 3,864 13,568 10,593 43,410 Total assets of non-consolidated VIEs 11,001 12,544 106,170 162,600 37,131 25,776 355,222 2020 (CHF million) Trading assets 250 0 4,500 1,113 66 8,617 14,546 Net loans 357 371 734 1,967 6,989 939 11,357 Other assets 2 0 3 110 0 344 459 Total variable interest assets 609 371 5,237 3,190 7,055 9,900 26,362 Maximum exposure to loss 852 5,538 7,329 3,190 11,235 10,226 38,370 Total assets of non-consolidated VIEs 8,553 11,148 127,785 87,618 26,186 25,759 287,049 1 Includes liquidity facilities provided to third-party CP conduits through Alpine Securities Ltd. |
Financial instruments
Financial instruments | 6 Months Ended |
Jun. 30, 2021 | |
Financial instruments | 31 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 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 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 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 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 section “Uncertainty of fair value measurements at the reporting date from the use of significant unobservable inputs” should be read in conjunction with the tables “Assets and liabilities measured at fair value on a recurring basis”, “Quantitative information about level 3 assets measured at fair value on a recurring basis” and “Quantitative information about level 3 liabilities measured at fair value on a recurring basis”. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 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 0 141 0 – – 141 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 69,465 0 – – 69,465 Securities received as collateral 33,337 5,265 84 – – 38,686 Trading assets 63,367 161,743 5,938 (101,348) 805 130,505 of which debt securities 11,267 44,628 1,655 – 70 57,620 of which foreign governments 10,885 11,376 40 – – 22,301 of which corporates 265 9,854 889 – 70 11,078 of which RMBS 0 20,528 477 – – 21,005 of which equity securities 41,037 2,172 282 – 735 44,226 of which derivatives 9,422 113,199 2,883 (101,348) – 24,156 of which interest rate products 1,212 55,831 805 – – – of which foreign exchange products 220 19,512 139 – – – of which equity/index-related products 7,941 32,473 490 – – – of which other derivatives 0 147 1,073 – – – of which other trading assets 1,641 1,744 1,118 – – 4,503 Investment securities 35 759 0 – – 794 Other investments 13 7 2,231 – 496 2,747 of which other equity investments 13 7 1,353 – 374 1,747 of which life finance instruments 0 0 877 – – 877 Loans 0 8,173 2,928 – – 11,101 of which commercial and industrial loans 0 1,712 1,411 – – 3,123 of which financial institutions 0 3,958 643 – – 4,601 Other intangible assets (mortgage servicing rights) 0 0 189 – – 189 Other assets 155 9,191 1,436 (440) – 10,342 of which failed purchases 126 1,590 12 – – 1,728 of which loans held-for-sale 0 6,433 1,287 – – 7,720 Total assets at fair value 96,907 254,744 12,806 (101,788) 1,301 263,970 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 0 330 0 – – 330 Customer deposits 0 3,489 432 – – 3,921 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 10,983 0 – – 10,983 Obligation to return securities received as collateral 33,337 5,265 84 – – 38,686 Trading liabilities 24,903 113,684 3,035 (108,650) – 32,972 of which debt securities 3,230 4,823 0 – – 8,053 of which foreign governments 3,131 1,002 0 – – 4,133 of which equity securities 12,134 141 41 – – 12,316 of which derivatives 9,539 108,720 2,994 (108,650) – 12,603 of which interest rate products 1,184 52,087 142 – – – of which foreign exchange products 176 20,973 62 – – – of which equity/index-related products 8,127 29,144 1,738 – – – Short-term borrowings 0 7,448 1,106 – – 8,554 Long-term debt 0 59,763 9,673 – – 69,436 of which structured notes over one year and up to two years 0 11,742 2,124 – – 13,866 of which structured notes over two years 0 24,088 6,777 – – 30,865 of which high-trigger instruments 0 11,080 0 – – 11,080 Other liabilities 90 7,557 535 (271) – 7,911 Total liabilities at fair value 58,330 208,519 14,865 (108,921) – 172,793 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 0 525 0 – – 525 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 57,994 0 – – 57,994 Securities received as collateral 44,074 6,598 101 – – 50,773 Trading assets 87,710 181,166 7,535 (119,731) 658 157,338 of which debt securities 16,321 45,766 2,253 – 55 64,395 of which foreign governments 15,908 11,909 140 – – 27,957 of which corporates 353 9,799 1,270 – 55 11,477 of which RMBS 0 20,882 557 – – 21,439 of which equity securities 60,044 2,466 124 – 603 63,237 of which derivatives 9,297 132,054 3,911 (119,731) – 25,531 of which interest rate products 3,036 71,043 733 – – – of which foreign exchange products 42 24,259 143 – – – of which equity/index-related products 6,150 31,945 1,186 – – – of which other derivatives 22 110 1,079 – – – of which other trading assets 2,048 880 1,247 – – 4,175 Investment securities 2 605 0 – – 607 Other investments 13 6 3,054 – 721 3,794 of which other equity investments 13 6 2,132 – 608 2,759 of which life finance instruments 0 0 920 – – 920 Loans 0 7,739 3,669 – – 11,408 of which commercial and industrial loans 0 2,187 1,347 – – 3,534 of which financial institutions 0 3,506 1,082 – – 4,588 Other intangible assets (mortgage servicing rights) 0 0 180 – – 180 Other assets 137 7,315 1,825 (904) – 8,373 of which failed purchases 109 1,229 51 – – 1,389 of which loans held-for-sale 0 4,870 1,576 – – 6,446 Total assets at fair value 131,936 261,948 16,364 (120,635) 1,379 290,992 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 0 413 0 – – 413 Customer deposits 0 3,895 448 – – 4,343 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,594 0 – – 13,594 Obligation to return securities received as collateral 44,074 6,598 101 – – 50,773 Trading liabilities 33,544 137,947 4,246 (129,867) 1 45,871 of which equity securities 20,527 111 55 – 1 20,694 of which derivatives 10,536 132,885 4,191 (129,867) – 17,745 of which interest rate products 3,264 68,159 169 – – – of which foreign exchange products 51 28,819 72 – – – of which equity/index-related products 7,149 30,612 2,010 – – – of which credit derivatives 0 4,663 1,335 – – – Short-term borrowings 0 10,039 701 – – 10,740 Long-term debt 0 63,708 7,268 – – 70,976 of which structured notes over one year and up to two years 0 11,787 1,133 – – 12,920 of which structured notes over two years 0 28,330 5,526 – – 33,856 of which high-trigger instruments 0 10,586 0 – – 10,586 Other liabilities 0 6,678 1,271 (169) – 7,780 Total liabilities at fair value 77,618 242,872 14,035 (130,036) 1 204,490 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 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading assets 7,535 594 (1,635) 2,472 (2,976) 508 (1,119) 39 140 0 0 0 0 380 5,938 128 of which debt securities 2,253 296 (736) 1,859 (2,285) 0 0 (7) 138 0 0 0 0 137 1,655 103 of which corporates 1,270 137 (176) 1,403 (1,913) 0 0 (5) 95 0 0 0 0 78 889 99 of which derivatives 3,911 179 (856) 0 0 508 (1,033) 29 (30) 0 0 0 0 175 2,883 72 of which interest rate products 733 59 (81) 0 0 114 (59) 0 18 0 0 0 0 21 805 54 of which other derivatives 1,079 0 0 0 0 153 (157) 0 (55) 0 0 0 0 53 1,073 (60) of which other trading assets 1,247 22 (32) 493 (617) 0 (86) 10 21 0 0 0 0 60 1,118 (47) Other investments 3,054 3 (753) 20 (473) 0 0 0 (17) 0 318 0 0 79 2,231 43 of which other equity investments 2,132 0 (753) 3 (375) 0 0 0 (6) 0 318 0 0 34 1,353 52 of which life finance instruments 920 0 0 17 (94) 0 0 0 (11) 0 0 0 0 45 877 18 Loans 3,669 22 (533) 357 (73) 162 (946) 8 85 0 1 0 0 176 2,928 25 of which commercial and industrial loans 1,347 22 (12) 10 (31) 119 (184) 14 57 0 1 0 0 68 1,411 36 of which financial institutions 1,082 0 (222) 0 (42) 32 (296) 3 40 0 0 0 0 46 643 4 Other intangible assets (mortgage servicing rights) 180 0 0 22 0 0 0 0 0 0 (22) 0 0 9 189 (22) Other assets 1,825 164 (451) 2,500 (2,176) 77 (573) 13 (42) 0 0 0 0 99 1,436 (76) of which loans held-for-sale 1,576 164 (409) 2,469 (2,137) 77 (571) 11 19 0 0 0 0 88 1,287 (41) Total assets at fair value 16,364 783 (3,372) 5,435 (5,784) 747 (2,638) 60 166 0 297 0 0 748 12,806 98 Liabilities (CHF million) Customer deposits 448 0 0 0 0 0 0 0 (8) 0 0 0 (13) 5 432 10 Obligation to return securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading liabilities 4,246 584 (1,961) 80 (24) 710 (1,138) 152 169 0 0 0 0 217 3,035 779 of which derivatives 4,191 566 (1,961) 69 (4) 710 (1,138) 152 193 0 0 0 0 216 2,994 781 of which equity/index-related derivatives 2,010 427 (1,049) 0 0 350 (527) 151 265 0 0 0 0 111 1,738 529 Short-term borrowings 701 155 (207) 0 0 930 (608) (1) 95 0 0 0 0 41 1,106 67 Long-term debt 7,268 2,715 (2,046) 0 0 4,401 (3,119) 62 (4) 0 4 (3) (30) 425 9,673 210 of which structured notes over one year and up to two years 1,133 1,165 (732) 0 0 1,127 (771) 39 97 0 0 0 (1) 67 2,124 39 of which structured notes over two years 5,526 1,532 (1,287) 0 0 3,020 (2,227) 24 (109) 0 0 (2) (29) 329 6,777 (59) Other liabilities 1,271 7 (552) 24 (46) 59 (424) 8 (8) 107 38 0 0 51 535 2 Total liabilities at fair value 14,035 3,461 (4,766) 168 (156) 6,100 (5,289) 221 244 107 42 (3) (43) 744 14,865 1,068 Net assets/(liabilities) at fair value 2,329 (2,678) 1,394 5,267 (5,628) (5,353) 2,651 (161) (78) (107) 255 3 43 4 (2,059) (970) 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 6M21, changes in net unrealized gains/(losses) of CHF (1,011) 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 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 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 derivatives 3,534 719 (629) 0 0 1,290 (1,606) 111 834 (1) 0 0 0 (151) 4,101 999 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) 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 derivatives 3,801 497 (904) 0 (3) 1,602 (1,276) 184 (136) (5) 0 0 0 (103) 3,657 575 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) 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) 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. 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 6M21 were CHF 783 million, primarily from trading assets. These transfers were primarily in the credit and securitized products businesses, due to limited observability of pricing data and reduced pricing information from external providers. Transfers out of level 3 assets during 6M21 were CHF 3,372 million, primarily in trading assets, other investments and loans. These transfers were mainly related to global trading solutions and securitized products businesses, due to improved observability of pricing data and increased availability of pricing information from external providers, and the Group’s equity investment in Allfunds Group, following its IPO. Transfers into level 3 assets during 2Q21 were CHF 385 million, primarily from trading assets. These transfers were primarily in the credit and securitized products businesses, due to limited observability of pricing data and reduced pricing information from external providers. Transfers out of level 3 assets during 2Q21 were CHF 1,611 million, primarily in other investments and trading assets. These transfers were mainly related to the securitized products business, due to improved observability of pricing data and increased availability of pricing information from external providers, and the Group’s equity investment in Allfunds Group, following its IPO. 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, contingent probability, correlation, dividend yield, funding spread, mean reversion, mortality rate, price, recovery rate, volatility or unadjusted NAV, 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, fund gap risk, gap risk, market implied life expectancy (for life settlement and premium finance instruments), prepayment rate or tax swap 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 contingent probability, credit spread, fund gap risk, gap risk, market implied life expectancy, mortality rate or price would increase the fair value. An increase in the significant unobservable inputs of buyback probability, correlation, discount rate, dividend yield, funding spread, mean reversion, prepayment rate, unadjusted NAV or volatility 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 measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 5,938 of which debt securities 1,655 of which corporates 889 of which 172 Discounted cash flow Credit spread, in bp 40 973 1,928 Price, in % 0 100 28 Recovery rate, in % 1 1 0 of which 12 Market comparable Price, in % 0 100 63 of which 641 Option model Buyback probability, in % 50 100 73 Correlation, in % (85) 100 68 Credit spread, in bp (4) 105 81 Fund gap risk, in % 2 0 3 1 Volatility, in % 0 137 18 of which 5 Vendor price Price, in actuals 0 153 135 of which 55 Price Price, in % 32 116 86 of which derivatives 2,883 of which interest rate products 805 of which 7 Discounted cash flow Prepayment rate, in % 3 10 6 Volatility, in % 93 97 95 of which 756 Option model Correlation, in % 1 100 8 Mean reversion, in % 2 (55) (8) 0 Prepayment rate, in % 3 28 10 Volatility, in % (3) 1 0 of which other derivatives 1,073 Discounted cash flow Market implied life expectancy, in years 2 15 6 Mortality rate, in % 72 137 98 of which other trading assets 1,118 of which 728 Discounted cash flow Market implied life expectancy, in years 3 14 7 Tax swap rate, in % 30 30 30 of which 256 Market comparable Price, in % 0 125 28 of which 133 Option model Mortality rate, in % 0 70 6 Other investments 2,231 of which other equity investments 1,353 of which 974 Adjusted NAV Price, in actuals 310 310 310 of which 326 Price Price, in % 100 100 100 Price, in actuals 1 1,244 425 of which life finance instruments 877 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 2,928 of which commercial and industrial loans 1,411 of which 724 Discounted cash flow Credit spread, in bp 146 2,014 589 of which 597 Price Credit spread, in bp 300 300 300 Price, in % 7 100 77 of which financial institutions 643 of which 529 Discounted cash flow Credit spread, in bp 164 1,615 622 of which 113 Price Price, in % 10 61 28 Other assets 1,436 of which loans held-for-sale 1,287 of which 354 Discounted cash flow Credit spread, in bp 279 932 325 of which 885 Market comparable Price, in % 0 152 81 of which 17 Price Price, in % 0 63 53 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 measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 7,535 of which debt securities 2,253 of which corporates 1,270 of which 386 Discounted cash flow Credit spread, in bp (9) 1,509 1,007 of which 321 Market comparable Price, in % 0 227 95 of which 416 Option model Correlation, in % (50) 100 55 Gap risk, in % 2 0 2 0 Recovery rate, in % 40 40 40 Volatility, in % 0 158 23 of which 71 Vendor price Price, in actuals 0 2,292 1,654 Unadjusted NAV, in actuals 1 1 1 of which derivatives 3,911 of which equity/index-related products 1,186 Option model Buyback probability, in % 50 100 66 Correlation, in % (50) 100 58 Gap risk, in % 2 0 4 0 Volatility, in % (2) 158 24 of which other derivatives 1,079 Discounted cash flow Market implied life expectancy, in years 2 14 6 Mortality rate, in % 72 137 98 of which other trading assets 1,247 of which 766 Discounted cash flow Market implied life expectancy, in years 3 14 7 Other investments 3,054 of which other equity investments 2,132 of which 840 Discounted cash flow Discount rate, in % 9 9 9 Terminal growth rate, in % 3 3 3 of which 118 Market comparable Price, in % 100 100 100 of which 974 Adjusted NAV Price, in actuals 310 310 310 of which 110 Vendor price Price, in actuals 1 1,249 713 of which life finance instruments 920 Discounted cash flow Market implied life expectancy, in years 2 15 6 Loans 3,669 of which commercial and industrial loans 1,347 of which 908 Discounted cash flow Credit spread, in bp 237 1,480 554 Recovery rate, in % 25 25 25 of which 338 Market comparable Price, in % 0 100 70 72 Option model Pre-IPO intrinsic option, in actuals 100 100 100 of which financial institutions 1,082 of which 674 Discounted cash flow Credit spread, in bp 192 1,698 612 Recovery rate, in % 25 40 25 of which 190 Market comparable Price, in % 0 100 54 Other assets 1,825 of which loans held-for-sale 1,576 of which 296 Discounted cash flow Credit spread, in bp 246 506 343 Recovery rate, in % 1 40 34 of which 1,277 Market comparable Price, in % 0 111 71 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 liabilities measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 3,035 of which derivatives 2,994 of which equity/index-related derivatives 1,738 of which 3 Market comparable Price, in actuals 0 34 30 of which 1,688 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (85) 100 67 Dividend yield, in % 1 8 4 Unadjusted NAV, in actuals 42 3,544 876 Volatility, in % (3) 137 18 of which 46 Price Price, in actuals 0 1,636 1 Short-term borrowings 1,106 of which 44 Discounted cash flow Credit spread, in bp 104 1,036 788 of which 968 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (85) 100 68 Fund gap risk, in % 3 0 3 1 Gap risk, in % 3 0 4 1 Volatility, in % 0 137 16 of which 12 Price Price, in % 59 59 59 Long-term debt 9,673 of which structured notes over one year and up to two years 2,124 of which 12 Discounted cash flow Credit spread, in bp 40 40 40 of which 2,110 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (85) 100 69 Credit spread, in bp (4) 105 81 Fund gap risk, in % 3 0 3 1 Gap risk, in % 3 0 4 1 Unadjusted NAV, in actuals 42 3,544 876 Volatility, in % 0 137 18 of which structured notes over two years 6,777 of which 110 Discounted cash flow Credit spread, in bp 2 309 84 of which 6,521 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (85) 100 68 Credit spread, in bp (4) 105 81 Fund gap risk, in % 3 0 3 1 Unadjusted NAV, in actuals 42 3,544 876 Volatility, in % 0 137 14 of which 12 Price Price, in % 4 26 21 1 Weighted average is calculated based on the fair value of the instruments. 2 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. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 liabilities measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 4,246 of which derivatives 4,191 of which equity/index-related derivatives 2,010 Option model Buyback probability, in % 2 50 100 66 Correlation, in % (50) 100 58 Volatility, in % (2) 158 27 of which credit derivatives 1,335 of which 738 Discounted cash flow Correlation, in % 37 45 44 Credit spread, in bp 0 1,468 391 Default rate, in % 0 7 3 Discount rate, in % 6 19 14 Funding spread, in bp 55 183 120 Loss severity, in % 0 100 68 Prepayment rate, in % 0 9 7 Recovery rate, in % 12 81 38 of which 520 Market comparable Price, in % 84 116 99 of which 12 Option model Correlation, in % 49 50 50 Credit spread, in bp 13 865 250 Short-term borrowings 701 of which 58 Discounted cash flow Credit spread, in bp (4) 992 722 Recovery rate, in % 35 40 39 of which 508 Option model Buyback probability, in % 50 100 66 Correlation, in % (50) 100 56 Fund gap risk, in % 3 0 2 0 Volatility, in % 3 158 30 Long-term debt 7,268 of which structured notes over one year and up to two years 1,133 of which 48 Discounted cash flow Credit spread, in bp 35 189 52 Recovery rate, in % 25 25 25 of which 1,051 Option model Buyback probability, in % 2 50 100 66 Correlation, in % (50) 100 55 Fund gap risk, in % 3 0 2 0 Gap risk, in % 0 4 1 Volatility, in % 0 158 24 of which structured notes over two years 5,526 of which 1,380 Discounted cash flow Credit spread, in bp (14) 481 58 Recovery rate, in % 23 40 38 of which 9 Market comparable Price, in % 27 46 27 of which 3,961 Option model Buyback probability, in % 2 50 100 66 Correlation, in % (50) 100 55 Gap risk, in % 3 0 2 0 Mean reversion, in % 4 (10) 0 (5) Volatility, in % 0 158 21 1 Weighted average is calculated based on the fair value of the instruments. 2 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. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Qualitative discussion of the ranges of significant unobservable inputs The level of aggregation and diversity within the financial instruments disclosed in the tables above results in certain ranges of significant inputs being wide and unevenly distributed across asset and liability categories. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on the Group’s qualitative discussion of the ranges of signification unobservable inputs. Investment funds measured at net asset value per share Certain investment funds are measured at net asset value per share. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on investment funds measured at net asset value per share. Assets and liabilities measured at fair value on a nonrecurring basis Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, they are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on assets and liabilities measured at fair value on a nonrecurring basis. Fair value option The Group has availed itself of the simplification in accounting offered under the fair value option. This has been accomplished generally by electing the fair value option, both at initial adoption and for subsequent transactions, on items impacted by the hedge accounting requirements of US GAAP. For instruments for which hedge accounting could not be achieved but for which the Group is economically hedged, the Group has generally elected the fair value option. Where the Group manages an activity on a fair value basis but previously has been unable to achieve fair value accounting, the Group has generally utilized the fair value option to align its financial accounting to its risk management reporting. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for further information on the Group’s election of the fair value option. Difference between the aggregate fair value and unpaid principal balances of fair value option-elected financial instruments 2Q21 4Q20 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 69,465 69,314 151 57,994 57,895 99 Loans 11,101 11,804 (703) 11,408 12,079 (671) Other assets 1 9,448 12,122 (2,674) 7,834 10,090 (2,256) Due to banks and customer deposits (538) (471) (67) (578) (489) (89) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (10,983) (10,982) (1) (13,594) (13,578) (16) Short-term borrowings (8,554) (8,556) 2 (10,740) (10,632) (108) Long-term debt 2 (69,436) (71,204) 1,768 (70,976) (73,842) 2,866 Other liabilities (883) (1,844) 961 (616) |
Bank | |
Financial instruments | 30 Financial instruments > Refer to “Note 31 – Financial instruments” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 and to “Note 35 – Financial instruments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2020 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 0 141 0 – – 141 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 69,465 0 – – 69,465 Securities received as collateral 33,337 5,265 84 – – 38,686 Trading assets 63,427 161,961 5,938 (101,447) 805 130,684 of which debt securities 11,267 44,747 1,655 – 70 57,739 of which foreign government 10,885 11,376 40 – – 22,301 of which corporates 265 9,973 889 – 70 11,197 of which RMBS 0 20,528 477 – – 21,005 of which equity securities 41,098 2,172 282 – 735 44,287 of which derivatives 9,422 113,297 2,883 (101,447) – 24,155 of which interest rate products 1,212 55,930 805 – – – of which foreign exchange products 220 19,512 139 – – – of which equity/index-related products 7,941 32,473 490 – – – of which other derivatives 0 146 1,073 – – – of which other trading assets 1,640 1,745 1,118 – – 4,503 Investment securities 33 759 0 – – 792 Other investments 13 7 2,231 – 495 2,746 of which other equity investments 13 7 1,353 – 373 1,746 of which life finance instruments 0 0 877 – – 877 Loans 0 8,173 2,928 – – 11,101 of which commercial and industrial loans 0 1,712 1,411 – – 3,123 of which financial institutions 0 3,958 643 – – 4,601 Other intangible assets (mortgage servicing rights) 0 0 189 – – 189 Other assets 155 9,191 1,436 (440) – 10,342 of which failed purchases 126 1,590 12 – – 1,728 of which loans held-for-sale 0 6,433 1,287 – – 7,720 Total assets at fair value 96,965 254,962 12,806 (101,887) 1,300 264,146 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 0 330 0 – – 330 Customer deposits 0 3,489 432 – – 3,921 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 11,080 0 – – 11,080 Obligation to return securities received as collateral 33,337 5,265 84 – – 38,686 Trading liabilities 24,903 113,741 3,035 (108,708) – 32,971 of which debt securities 3,230 4,824 0 – – 8,054 of which foreign government 3,131 1,002 0 – – 4,133 of which equity securities 12,133 141 41 – – 12,315 of which derivatives 9,540 108,776 2,994 (108,708) – 12,602 of which interest rate products 1,184 52,145 142 – – – of which foreign exchange products 176 20,973 62 – – – of which equity/index-related products 8,127 29,143 1,738 – – – Short-term borrowings 0 7,448 1,106 – – 8,554 Long-term debt 0 58,813 9,673 – – 68,486 of which structured notes over one year and up to two years 0 11,742 2,124 – – 13,866 of which structured notes over two years 0 24,088 6,777 – – 30,865 of which high-trigger instruments 0 11,124 0 – – 11,124 Other liabilities 90 7,537 535 (271) – 7,891 Total liabilities at fair value 58,330 207,703 14,865 (108,979) – 171,919 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 0 525 0 – – 525 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 57,994 0 – – 57,994 Securities received as collateral 44,074 6,598 101 – – 50,773 Trading assets 87,746 181,303 7,535 (119,731) 658 157,511 of which debt securities 16,321 45,903 2,253 – 55 64,532 of which foreign government 15,908 11,909 140 – – 27,957 of which corporates 353 9,936 1,270 – 55 11,614 of which RMBS 0 20,882 557 – – 21,439 of which equity securities 60,080 2,466 124 – 603 63,273 of which derivatives 9,297 132,054 3,911 (119,731) – 25,531 of which interest rate products 3,036 71,043 733 – – – of which foreign exchange products 42 24,259 143 – – – of which equity/index-related products 6,150 31,945 1,186 – – – of which other derivatives 22 110 1,079 – – – of which other trading assets 2,048 880 1,247 – – 4,175 Investment securities 1 604 0 – – 605 Other investments 13 6 3,054 – 720 3,793 of which other equity investments 13 6 2,132 – 609 2,760 of which life finance instruments 0 0 920 – – 920 Loans 0 7,739 3,669 – – 11,408 of which commercial and industrial loans 0 2,187 1,347 – – 3,534 of which financial institutions 0 3,506 1,082 – – 4,588 Other intangible assets (mortgage servicing rights) 0 0 180 – – 180 Other assets 137 7,315 1,825 (904) – 8,373 of which failed purchases 109 1,229 51 – – 1,389 of which loans held-for-sale 0 4,870 1,576 – – 6,446 Total assets at fair value 131,971 262,084 16,364 (120,635) 1,378 291,162 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 0 413 0 – – 413 Customer deposits 0 3,895 448 – – 4,343 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,688 0 – – 13,688 Obligation to return securities received as collateral 44,074 6,598 101 – – 50,773 Trading liabilities 33,543 138,018 4,246 (129,937) 1 45,871 of which equity securities 20,527 111 55 – 1 20,694 of which derivatives 10,535 132,956 4,191 (129,937) – 17,745 of which interest rate products 3,264 68,229 169 – – – of which foreign exchange products 51 28,819 72 – – – of which equity/index-related products 7,149 30,612 2,010 – – – of which credit derivatives 0 4,663 1,335 – – – Short-term borrowings 0 10,039 701 – – 10,740 Long-term debt 0 62,957 7,286 – – 70,243 of which structured notes over one year and up to two years 0 11,787 1,133 – – 12,920 of which structured notes over two years 0 28,330 5,526 – – 33,856 of which high-trigger instruments 0 10,627 0 – – 10,627 Other liabilities 0 6,675 1,250 (169) – 7,756 Total liabilities at fair value 77,617 242,283 14,032 (130,106) 1 203,827 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 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading assets 7,535 594 (1,635) 2,472 (2,976) 508 (1,119) 39 140 0 0 0 0 380 5,938 128 of which debt securities 2,253 296 (736) 1,859 (2,285) 0 0 (7) 138 0 0 0 0 137 1,655 103 of which corporates 1,270 137 (176) 1,403 (1,913) 0 0 (5) 95 0 0 0 0 78 889 99 of which derivatives 3,911 179 (856) 0 0 508 (1,033) 29 (30) 0 0 0 0 175 2,883 72 of which interest rate products 733 59 (81) 0 0 114 (59) 0 18 0 0 0 0 21 805 54 of which other derivatives 1,079 0 0 0 0 153 (157) 0 (55) 0 0 0 0 53 1,073 (60) of which other trading assets 1,247 22 (32) 493 (617) 0 (86) 10 21 0 0 0 0 60 1,118 (47) Other investments 3,054 3 (753) 20 (473) 0 0 0 (17) 0 318 0 0 79 2,231 46 of which other equity investments 2,132 0 (753) 3 (375) 0 0 0 (6) 0 318 0 0 34 1,353 55 of which life finance instruments 920 0 0 17 (94) 0 0 0 (11) 0 0 0 0 45 877 18 Loans 2 3,669 22 (533) 357 (73) 162 (946) 8 85 0 1 0 0 176 2,928 25 of which commercial and industrial loans 2 1,347 22 (12) 10 (31) 119 (184) 14 57 0 1 0 0 68 1,411 36 of which financial institutions 1,082 0 (222) 0 (42) 32 (296) 3 40 0 0 0 0 46 643 4 Other intangible assets (mortgage servicing rights) 180 0 0 22 0 0 0 0 0 0 (22) 0 0 9 189 (22) Other assets 1,825 164 (451) 2,500 (2,176) 77 (573) 13 (42) 0 0 0 0 99 1,436 (76) of which loans held-for-sale 1,576 164 (409) 2,469 (2,137) 77 (571) 11 19 0 0 0 0 88 1,287 (41) Total assets at fair value 16,364 783 (3,372) 5,435 (5,784) 747 (2,638) 60 166 0 297 0 0 748 12,806 101 Liabilities (CHF million) Customer deposits 448 0 0 0 0 0 0 0 (8) 0 0 0 (13) 5 432 10 Obligation to return securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading liabilities 4,246 584 (1,961) 80 (24) 710 (1,138) 152 169 0 0 0 0 217 3,035 779 of which derivatives 4,191 566 (1,961) 69 (4) 710 (1,138) 152 193 0 0 0 0 216 2,994 781 of which equity/index-related derivatives 2,010 427 (1,049) 0 0 350 (527) 151 265 0 0 0 0 111 1,738 529 Short-term borrowings 701 155 (207) 0 0 930 (608) (1) 95 0 0 0 0 41 1,106 67 Long-term debt 7,286 2,697 (2,046) 0 0 4,401 (3,119) 62 (8) 0 0 (3) (30) 433 9,673 203 of which structured notes over one year and up to two years 1,133 1,165 (732) 0 0 1,127 (771) 39 97 0 0 0 (1) 67 2,124 39 of which structured notes over two years 5,526 1,532 (1,287) 0 0 3,020 (2,227) 24 (109) 0 0 (2) (29) 329 6,777 (59) Other liabilities 1,250 7 (533) 24 (46) 59 (416) 8 (8) 102 38 0 0 50 535 2 Total liabilities at fair value 14,032 3,443 (4,747) 168 (156) 6,100 (5,281) 221 240 102 38 (3) (43) 751 14,865 1,061 Net assets/(liabilities) at fair value 2,332 (2,660) 1,375 5,267 (5,628) (5,353) 2,643 (161) (74) (102) 259 3 43 (3) (2,059) (960) 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 6M21, changes in net unrealized gains/(losses) of CHF (1,003) 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 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 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 derivatives 3,534 719 (629) 0 0 1,290 (1,606) 111 834 (1) 0 0 0 (151) 4,101 999 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) 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 derivatives 3,801 497 (904) 0 (3) 1,602 (1,276) 184 (136) (5) 0 0 0 (103) 3,657 575 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) 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. As of 6M20, changes in net unrealized gains/(losses) of CHF 284 million and CHF (36) 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. Difference between the fair value and the unpaid principal balances of fair value option-elected financial instruments 6M21 2020 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 69,465 69,314 151 57,994 57,895 99 Loans 11,101 11,804 (703) 11,408 12,079 (671) Other assets 1 9,448 12,122 (2,674) 7,834 10,090 (2,256) Due to banks and customer deposits (538) (471) (67) (578) (489) (89) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (11,080) (11,079) (1) (13,688) (13,672) (16) Short-term borrowings (8,554) (8,556) 2 (10,740) (10,632) (108) Long-term debt 2 (68,486) (70,327) 1,841 (70,243) (73,175) 2,932 Other liabilities (883) (1,844) 961 (616) (1,569) 953 Non-performing and non-interest-earning loans 3 591 3,543 (2,952) 543 3,364 (2,821) 1 Primarily loans held-for-sale. 2 Long-term debt includes both principal-protected and non-principal protected instruments. For non-principal-protected instruments, the original notional amount has been reported in the aggregate unpaid principal. 3 Included in loans or other assets. Gains and losses on financial instruments 6M21 6M20 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 18 1 1 1 of which related to credit risk 8 (6) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 306 1 789 1 Other investments 293 2 205 3 of which related to credit risk 0 1 Loans 277 1 (247) 3 of which related to credit risk 59 (575) Other assets 405 1 416 1 of which related to credit risk 173 (19) Due to banks and customer deposits (37) 3 (39) 3 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (29) 1 (82) 1 Short-term borrowings (406) 3 (16) 3 of which related to credit risk (1) 1 Long-term debt (3,347) 3 1,842 3 of which related to credit risk 0 14 Other liabilities 120 2 (102) 3 of which related to credit risk 67 (124) 1 Primarily recognized in net interest income. 2 Primarily recognized in other revenues. 3 Primarily recognized in trading revenues. Gains/(losses) attributable to changes in investment-specific credit risk 1 Gains/(losses) recorded 1 in 6M21 Cumulative 6M20 6M21 6M20 Financial instruments (CHF million) Customer deposits 13 (64) 23 0 0 Short-term borrowings 13 (55) (22) 0 0 Long-term debt (21) (2,397) 1,723 77 99 of which treasury debt over two years (321) (1,044) 1,306 0 0 of which structured notes over two years 269 (1,262) 300 77 99 Total 5 (2,516) 1,724 77 99 1 Amounts are reflected gross of tax. Carrying value and fair value of financial instruments not carried at fair value Carrying end of Level 1 Level 2 Level 3 Total 6M21 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 25,179 0 25,180 0 25,180 Loans 293,508 0 288,871 13,252 302,123 Other financial assets 1 160,724 144,457 16,058 273 160,788 Financial liabilities Due to banks and customer deposits 415,020 239,969 175,118 0 415,087 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 9,941 0 9,941 0 9,941 Short-term borrowings 17,665 0 17,666 0 17,666 Long-term debt 95,807 0 95,840 2,955 98,795 Other financial liabilities 2 14,484 0 14,069 382 14,451 2020 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 21,139 0 21,139 0 21,139 Loans 285,570 0 281,097 14,534 295,631 Other financial assets 1 154,441 137,763 16,399 302 154,464 Financial liabilities Due to banks and customer deposits 403,704 235,477 168,262 0 403,739 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 10,256 0 10,256 0 10,256 Short-term borrowings 10,568 0 10,569 0 10,569 Long-term debt 90,035 0 90,716 2,317 93,033 Other financial liabilities 2 16,131 0 15,694 403 16,097 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 | 6 Months Ended |
Jun. 30, 2021 | |
Assets pledged and collateral | 32 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 2Q21 4Q20 CHF million Total assets pledged or assigned as collateral 116,523 144,355 of which encumbered 55,154 82,950 1 1 Prior period has been corrected. 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 2Q21 4Q20 1 CHF million Fair value of collateral received with the right to sell or repledge 370,803 385,515 of which sold or repledged 135,894 158,567 1 Prior period has been corrected. |
Bank | |
Assets pledged and collateral | 31 Assets pledged and collateral > Refer to “Note 32 – Assets pledged and collateral” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 and to ”Note 36 – Assets pledged and collateral” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2020 for further information. Assets pledged end of 6M21 2020 CHF million Total assets pledged or assigned as collateral 116,523 144,355 of which encumbered 55,154 82,950 1 1 Prior period has been corrected. Collateral end of 6M21 2020 1 CHF million Fair value of collateral received with the right to sell or repledge 370,803 385,515 of which sold or repledged 135,894 158,567 1 Prior period has been corrected. |
Litigation
Litigation | 6 Months Ended |
Jun. 30, 2021 | |
Litigation | 33 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 40 – Litigation in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 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 40 referenced above and updated in quarterly reports (including below) for which the Group believes an estimate is possible is zero to CHF 1.2 billion. In 2Q21, the Group recorded net litigation provisions of CHF 265 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 Government and regulatory related matters DOJ RMBS settlement As previously disclosed, on January 18, 2017, Credit Suisse Securities (USA) LLC (CSS LLC) and its current and former US subsidiaries and US affiliates reached a settlement with the US Department of Justice (DOJ) related to its legacy residential mortgage-backed securities (RMBS) business, a business conducted through 2007. The settlement resolved potential civil claims by the DOJ related to certain of those Credit Suisse entities’ packaging, marketing, structuring, arrangement, underwriting, issuance and sale of RMBS. Pursuant to the terms of the settlement a civil monetary penalty was paid to the DOJ in January 2017. The settlement also required the above-mentioned entities to provide certain levels of consumer relief measures, including affordable housing payments and loan forgiveness, and the DOJ and Credit Suisse agreed to the appointment of an independent monitor to oversee the completion of the consumer relief requirements of the settlement. Credit Suisse currently anticipates that it will take much longer than the five-year period provided in the settlement to satisfy in full its obligations in respect of these consumer relief measures and that it may only complete them by 2026 or later, subject to market conditions and the Group’s risk appetite. In light of Credit Suisse’s current plans as to how it will satisfy these obligations, Credit Suisse expects to incur additional costs beyond those previously anticipated in relation to satisfying those obligations. The amount of consumer relief Credit Suisse must provide also will increase after 2021 pursuant to the original settlement by 5% NJAG litigation On June 17, 2021, in the civil action filed against CSS LLC and affiliated entities in the Superior Court of New Jersey, Chancery Division, Mercer County (SCNJ) by the New Jersey Attorney General (NJAG), on behalf of the State of New Jersey, the SCNJ entered orders granting the motion for partial summary judgment filed by the NJAG and denying the cross-motion for partial summary judgment filed by CSS LLC and its affiliates. Civil litigation The amounts disclosed below do not reflect actual realized plaintiff losses to date or anticipated future litigation exposure. Rather, unless otherwise stated, these amounts reflect the original unpaid principal balance amounts as alleged in these actions and do not include any reduction in principal amounts since issuance. Repurchase litigations On May 6, 2021, in the action brought by Home Equity Asset Trust 2007-1 against DLJ Mortgage Capital, Inc. (DLJ), in which plaintiff alleges damages of not less than USD 420 million, following oral argument before the New York State Court of Appeals in DLJ’s appeal from the denial of its motion for partial summary judgment, the New York State Court of Appeals ordered re-argument of the appeal. On June 1, 2021, the Supreme Court for the State of New York, New York County (SCNY) postponed the commencement of the trial that had been scheduled to begin on October 11, 2021 until May 31, 2022. The commencement of the trial remains subject to the final resolution of DLJ’s summary judgment appeal. On June 4, 2021, following the parties’ April 19, 2021 settlement of the actions, which remains subject to approval in a trust instruction proceeding to be brought in Minnesota state court by the trustee of the plaintiff trusts, the SCNY vacated the trial that had been scheduled to begin on January 10, 2022 in two consolidated actions filed against DLJ and its affiliate Select Portfolio Servicing, Inc.: one action brought by Home Equity Mortgage Trust Series 2006-1, Home Equity Mortgage Trust Series 2006-3 and Home Equity Mortgage Trust Series 2006-4, in which plaintiffs allege damages of not less than USD 730 million; and one action brought by Home Equity Mortgage Trust Series 2006-5, in which plaintiff alleges damages of not less than USD 500 million. Bank loan litigation On June 25, 2021, in the Texas state court action against CSS LLC and certain of its affiliates brought by entities related to Highland Capital Management LP, the trial court entered a new judgment. This new judgment followed the Texas Supreme Court’s decision that reversed a portion of the September 4, 2015 judgment and dismissed various claims, but left standing the separate December 2014 jury verdict for plaintiff on its claims for fraudulent inducement by affirmative misrepresentation and remanded the case back to the trial court for further proceedings related to the calculation of damages and interest. The new judgment of June 25, 2021 awarded plaintiff a total of approximately USD 121 million. CSS LLC and its affiliates filed a notice of appeal from the judgment on July 23, 2021. Rates-related matters Regulatory Matters On July 8, 2021, in the investigation by the European Commission alleging that Credit Suisse entities engaged in anticompetitive practices in connection with their supranational, sub-sovereign and agency (SSA) bonds trading business, Credit Suisse appealed the April 28, 2021 decision imposing a fine of EUR 11.9 million to the EU General Court. Civil litigation USD ICE LIBOR litigation On June 3, 2021, in the civil action brought in the US District Court for the Northern District of California alleging that members of the ICE LIBOR panel, including Credit Suisse Group AG and certain of its affiliates, manipulated ICE LIBOR to profit from variable interest loans and credit cards, the court denied defendants’ motion to transfer the case to the US District Court for the Southern District of New York (SDNY). Treasury markets litigation On May 14, 2021, in the consolidated putative class action relating to the US treasury markets, plaintiffs filed an amended complaint against CSS LLC, Credit Suisse International (CSI) and other defendants. On July 20, 2021, the SDNY entered a stipulation voluntarily dismissing CSI. SSA bonds litigation On July 19, 2021, in the consolidated class action litigation brought in the SDNY relating to SSA bonds, the United States Circuit Court of Appeals for the Second Circuit affirmed the SDNY’s September 30, 2019 and March 18, 2020 decisions granting defendants’ motions to dismiss. Government-sponsored entity bonds litigation In the four civil actions brought in the US District Court for the Middle District of Louisiana, the parties entered into an agreement to settle all claims. On June 9, 2021, plaintiffs voluntarily dismissed each action. Credit default swap auction litigation On June 30, 2021, Credit Suisse Group AG and affiliates, along with other banks and entities, were named in a putative class action complaint filed in the US District Court for the District of New Mexico alleging manipulation of credit default swap final auction prices. OTC trading cases On June 29, 2021, in the putative class action brought against certain Credit Suisse AG affiliates, as well as other financial institutions, alleging that the defendants conspired to keep stock-loan trading in an over-the-counter market and collectively boycotted certain trading platforms that sought to enter the market, defendants filed their opposition to plaintiffs’ motion for class certification. External asset manager matter On April 15, 2021, the Geneva Prosecutor’s Office issued an order closing and discontinuing the criminal investigation against Credit Suisse AG and its employees in connection with alleged criminal offenses committed by an external asset manager based in Geneva. In May 2021, Credit Suisse completed the second and final stage of the settlement with affected clients. Mozambique matter Credit Suisse is in ongoing dialogue with regulatory and enforcement authorities regarding their inquiries into certain Credit Suisse entities’ arrangement of loan financing to Mozambique state enterprises, Proindicus S.A. and Empresa Mocambiacana de Atum S.A. (EMATUM), a distribution to private investors of loan participation notes (LPN) related to the EMATUM financing in September 2013, and certain Credit Suisse entities’ subsequent role in arranging the exchange of those LPNs for Eurobonds issued by the Republic of Mozambique. The English High Court has scheduled trial to begin in October 2023 in the litigation filed by the Republic of Mozambique against certain Credit Suisse entities, three former employees and several other unrelated entities. On June 3, 2021, United Bank for Africa PLC, a member of the ProIndicus syndicate, brought a claim against certain Credit Suisse entities seeking, contingent on the Republic of Mozambique’s claim, a declaration that Credit Suisse is liable to compensate it for alleged losses suffered as a result of any invalidity of the sovereign guarantee. The Credit Suisse entities filed their defense to this claim on July 1, 2021. ETN-related litigation On June 4, 2021, in the individual action brought 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), which asserts claims similar to those brought in the consolidated class action complaint as well as additional claims under Pennsylvania state law, plaintiff filed an amended complaint. On July 19, 2021, Credit Suisse AG filed a motion to dismiss. Bulgarian former clients matter Following charges brought in 2020 by the Swiss Office of the Attorney General against Credit Suisse AG and other parties concerning the diligence and controls applied to a historical relationship with Bulgarian former clients who are alleged to have laundered funds through Credit Suisse AG accounts, the Swiss Federal Criminal Court has scheduled trial to take place in February 2022. SCFF and Archegos matters We have received requests for documents and information in connection with inquiries, investigations and/or actions relating to the supply chain finance fund (SCFF) and/or Archegos matters by FINMA, the DOJ, the US Securities and Exchange Commission (SEC), the US Federal Reserve, the Commodity Futures Trading Commission (CFTC), the US Senate Banking Committee, the UK Financial Conduct Authority (FCA) and other regulatory and governmental agencies. Credit Suisse is cooperating with the authorities on these matters. In connection with FINMA’s enforcement actions, third parties appointed by it will conduct investigations into these matters. The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has also announced its intention to review the SCFF matter through a third party. On April 16, 2021, Credit Suisse Group AG and certain current and former executives were named in a putative class action complaint filed in the SDNY by a holder of Credit Suisse American Depositary Receipts, asserting claims for violations of Sections 10(b) and 20(a) of the US Securities Exchange Act of 1934 and Rule 10b-5 thereunder, alleging that defendants violated US securities laws by making material misrepresentations and omissions regarding Credit Suisse’s risk management practices with respect to the SCFF and Archegos matters. As these matters develop, we may become subject to additional litigation and regulatory inquiries, investigations and actions. |
Bank | |
Litigation | 32 Litigation > Refer to “Note 33 – Litigation” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q21 for further information. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
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, 2020 included in the Credit Suisse Annual Report 2020. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2020 for a description of the Group’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 1Q21 consolidated statements of operations and comprehensive income, the 1Q21 consolidated balance sheet and the 1Q21 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, 2020, included in the Credit Suisse Group AG & Credit Suisse AG Annual Report 2020 (Credit Suisse Annual Report 2020). In addition, these condensed consolidated financial statements make references to the Group’s condensed consolidated financial statements in its 2Q21 and 1Q21 Financial Reports and the Group’s consolidated financial statements in the Credit Suisse Annual Report 2020. > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2020 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, 2021 | |
Net revenues and income/(loss) from continuing operations before taxes and total assets by segment | Net revenues and income/(loss) before taxes in 2Q21 1Q21 2Q20 6M21 6M20 Net revenues (CHF million) Swiss Universal Bank 1,477 1,449 1,474 2,926 2,928 International Wealth Management 930 987 905 1,917 1,937 Asia Pacific 798 1,060 808 1,858 1,643 Asset Management 404 386 361 790 806 Investment Bank 1,610 3,543 2,862 5,153 4,942 Corporate Center (116) 149 (216) 33 (286) Net revenues 5,103 7,574 6,194 12,677 11,970 Income/(loss) before taxes (CHF million) Swiss Universal Bank 725 665 656 1,390 1,187 International Wealth Management 340 408 256 748 601 Asia Pacific 250 524 196 774 414 Asset Management 104 115 84 219 248 Investment Bank (76) (2,467) 912 (2,543) 995 Corporate Center (530) (2) (553) (532) (693) Income/(loss) before taxes 813 (757) 1,551 56 2,752 Total assets end of 2Q21 1Q21 4Q20 Total assets (CHF million) Swiss Universal Bank 265,801 269,089 261,465 International Wealth Management 91,957 90,300 91,503 Asia Pacific 70,569 74,878 67,356 Asset Management 3,591 3,941 3,703 Investment Bank 248,775 292,843 270,488 Corporate Center 116,106 120,344 111,307 Total assets 796,799 851,395 805,822 |
Bank | |
Net revenues and income/(loss) from continuing operations before taxes and total assets by segment | Net revenues and income/(loss) before taxes in 6M21 6M20 Net revenues (CHF million) Swiss Universal Bank 2,926 2,928 International Wealth Management 1,917 1,937 Asia Pacific 1,858 1,643 Asset Management 790 806 Investment Bank 5,153 4,942 Adjustments 1 238 (241) Net revenues 12,882 12,015 Income/(loss) before taxes (CHF million) Swiss Universal Bank 1,390 1,187 International Wealth Management 748 601 Asia Pacific 774 414 Asset Management 219 248 Investment Bank (2,543) 995 Adjustments 1 (573) (863) Income/(loss) before taxes 15 2,582 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 6M21 2020 Total assets (CHF million) Swiss Universal Bank 265,801 261,465 International Wealth Management 91,957 91,503 Asia Pacific 70,569 67,356 Asset Management 3,591 3,703 Investment Bank 248,775 270,488 Adjustments 1 119,427 115,173 Total assets 800,120 809,688 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, 2021 | |
Net interest income | in 2Q21 1Q21 2Q20 6M21 6M20 Net interest income (CHF million) Loans 1,277 1,265 1,488 2,542 3,130 Investment securities 0 0 2 0 3 Trading assets 1,109 1,314 1,566 2,423 3,231 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 311 341 391 652 936 Other 182 135 142 317 584 Interest and dividend income 2,879 3,055 3,589 5,934 7,884 Deposits (38) (51) (299) (89) (860) Short-term borrowings (40) (2) (76) (42) (152) Trading liabilities (453) (468) (717) (921) (1,473) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (209) (276) (211) (485) (505) Long-term debt (660) (543) (657) (1,203) (1,541) Other (63) (61) (59) (124) (249) Interest expense (1,463) (1,401) (2,019) (2,864) (4,780) Net interest income 1,416 1,654 1,570 3,070 3,104 |
Bank | |
Net interest income | in 6M21 6M20 Net interest income (CHF million) Loans 2,514 3,113 Investment securities 0 3 Trading assets 2,424 3,231 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 652 936 Other 318 584 Interest and dividend income 5,908 7,867 Deposits (84) (857) Short-term borrowings 1 (155) Trading liabilities (921) (1,473) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (485) (505) Long-term debt (1,182) (1,522) Other (124) (251) Interest expense (2,795) (4,763) Net interest income 3,113 3,104 |
Commissions and fees (Tables)
Commissions and fees (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Commissions and fees | in 2Q21 1Q21 2Q20 6M21 6M20 Commissions and fees (CHF million) Lending business 484 516 361 1,000 797 Investment and portfolio management 891 861 752 1,752 1,562 Other securities business 15 13 18 28 36 Fiduciary business 906 874 770 1,780 1,598 Underwriting 626 989 560 1,615 924 Brokerage 694 909 806 1,603 1,773 Underwriting and brokerage 1,320 1,898 1,366 3,218 2,697 Other services 448 449 383 897 715 Commissions and fees 3,158 3,737 2,880 6,895 5,807 |
Bank | |
Commissions and fees | in 6M21 6M20 Commissions and fees (CHF million) Lending business 997 786 Investment and portfolio management 1,699 1,508 Other securities business 29 40 Fiduciary business 1,728 1,548 Underwriting 1,664 981 Brokerage 1,624 1,774 Underwriting and brokerage 3,288 2,755 Other services 913 727 Commissions and fees 6,926 5,816 |
Trading revenues (Tables)
Trading revenues (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Trading revenues | in 2Q21 1Q21 2Q20 6M21 6M20 Trading revenues (CHF million) Interest rate products 154 752 1,374 906 (874) Foreign exchange products 358 148 539 506 1,110 Equity/index-related products (117) 1,001 (375) 884 (56) Credit products (271) (33) (682) (304) 1,217 Commodity and energy products (7) 9 69 2 97 Other products 36 (66) 329 (30) 687 Trading revenues 153 1,811 1,254 1,964 2,181 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 6M21 6M20 Trading revenues (CHF million) Interest rate products 893 (921) Foreign exchange products 497 1,113 Equity/index-related products 868 (88) Credit products (304) 1,217 Commodity and energy products 2 97 Other products (32) 687 Trading revenues 1,924 2,105 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, 2021 | |
Other revenues | in 2Q21 1Q21 2Q20 6M21 6M20 Other revenues (CHF million) Noncontrolling interests without SEI 4 (1) 0 3 0 Loans held-for-sale (58) (41) 5 (99) (16) Long-lived assets held-for-sale 3 (2) 6 1 10 Equity method investments 55 29 23 84 59 Other investments 131 199 223 330 451 Other 241 188 233 429 374 Other revenues 376 372 490 748 878 |
Bank | |
Other revenues | in 6M21 6M20 Other revenues (CHF million) Loans held-for-sale (99) (16) Long-lived assets held-for-sale 1 10 Equity method investments 84 58 Other investments 332 451 Other 601 487 Other revenues 919 990 |
Provision for credit losses (Ta
Provision for credit losses (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Provision for credit losses | in 2Q21 1Q21 2Q20 6M21 6M20 Provision for credit losses (CHF million) Loans held at amortized cost (28) (24) 264 (52) 691 Other financial assets held at amortized cost 56 1 4,434 1 21 4,490 1 36 Off-balance sheet credit exposures (53) (16) 11 (69) 137 Provision for credit losses (25) 4,394 296 4,369 864 1 Primarily reflects a provision for credit losses of CHF 70 million, CHF 4,430 million and CHF 4,500 million in 2Q21, 1Q21 and 6M21, respectively, related to the failure of Archegos to meet its margin commitments. |
Bank | |
Provision for credit losses | in 6M21 6M20 Provision for credit losses (CHF million) Loans held at amortized cost (52) 691 Other financial assets held at amortized cost 4,494 1 32 Off-balance sheet credit exposures (69) 137 Provision for credit losses 4,373 860 1 Primarily reflects a provision for credit losses of CHF 4,500 million related to the failure of Archegos to meet its margin commitments. |
Compensation and benefits (Tabl
Compensation and benefits (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Compensation and benefits | in 2Q21 1Q21 2Q20 6M21 6M20 Compensation and benefits (CHF million) Salaries and variable compensation 1,997 1,849 2,234 3,846 4,143 Social security 166 158 172 324 340 Other 1 193 200 188 393 427 Compensation and benefits 2,356 2,207 2,594 4,563 4,910 1 Includes pension-related expenses of CHF 120 million, CHF 130 million, CHF 113 million, CHF 250 million and CHF 263 million in 2Q21 1Q21 2Q20 6M21 6M20 |
Bank | |
Compensation and benefits | in 6M21 6M20 Compensation and benefits (CHF million) Salaries and variable compensation 3,449 3,711 Social security 278 293 Other 1 369 416 Compensation and benefits 4,096 4,420 1 Includes pension-related expenses of CHF 250 million and CHF 272 million in 6M21 and 6M20, 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, 2021 | |
General and administrative expenses | in 2Q21 1Q21 2Q20 6M21 6M20 General and administrative expenses (CHF million) Occupancy expenses 231 263 237 494 465 IT, machinery and equipment 383 373 357 756 707 Provisions and losses 273 57 133 330 205 Travel and entertainment 32 29 28 61 96 Professional services 454 373 377 827 752 Amortization and impairment of other intangible assets 2 2 1 4 3 Other 1 214 279 307 493 558 General and administrative expenses 1,589 1,376 1,440 2,965 2,786 1 Includes pension-related expenses/(credits) of CHF (42) (52) (40) (94) (80) 2Q21 1Q21 2Q20 6M21 6M20 |
Bank | |
General and administrative expenses | in 6M21 6M20 General and administrative expenses (CHF million) Occupancy expenses 449 415 IT, machinery and equipment 597 561 Provisions and losses 330 203 Travel and entertainment 52 85 Professional services 1,609 1,481 Amortization and impairment of other intangible assets 4 3 Other 1 623 747 General and administrative expenses 3,664 3,495 1 Includes pension-related expenses/(credits) of CHF (10) |
Restructuring expenses (Tables)
Restructuring expenses (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Restructuring and Related Costs [Table Text Block] | Restructuring expenses by type in 2Q21 1Q21 2Q20 6M21 6M20 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 2 11 – 13 – of which severance expenses (1) 7 – 6 – of which accelerated deferred compensation 3 4 – 7 – General and administrative-related expenses 43 14 – 57 – of which pension expenses (4) (7) – (11) – Total restructuring expenses 45 25 – 70 – |
Restructuring Provisions [Table Text Block] | Restructuring liabilities 2Q21 1Q21 2Q20 Compen- General and Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 39 3 42 50 2 52 – – – Net additional charges 1 (1) 26 25 7 10 17 – – – Utilization (16) (26) (42) (18) (9) (27) – – – Balance at end of period 22 3 25 39 3 42 – – – 1 The following items for which expense accretion was accelerated in 2Q21 and 1Q21 due to the restructuring of the Group are not included in the restructuring liabilities: unsettled share-based compensation of CHF 1 million and CHF 1 million, respectively, which remain classified as a component of total shareholders' equity; unsettled pension obligations of CHF (4) (7) Restructuring liabilities (continued) 6M21 6M20 Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 50 2 52 – – – Net additional charges 1 6 36 42 – – – Reclassifications – – – – – – Utilization (34) (35) (69) – – – Balance at end of period 22 3 25 – – – 1 The following items for which expense accretion was accelerated in 6M21 due to the restructuring of the Group are not included in the restructuring liabilities: unsettled share-based compensation of CHF 2 million; unsettled pension obligations of CHF (11) |
Bank | |
Restructuring and Related Costs [Table Text Block] | Restructuring expenses by type in 6M21 6M20 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 14 – of which severance expenses 7 – of which accelerated deferred compensation 7 – General and administrative-related expenses 66 – of which pension expenses 4 – Total restructuring expenses 80 – |
Restructuring Provisions [Table Text Block] | Restructuring liabilities 6M21 6M20 Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 47 2 49 – – – Net additional charges 1 7 30 37 – – – Reclassifications – – – – – – Utilization (32) (29) (61) – – – Balance at end of period 22 3 25 – – – 1 The following items for which expense accretion was accelerated in 6M21 due to the restructuring of the Bank are not included in the restructuring provision: unsettled share-based compensation of CHF 2 million; unsettled pension obligation related to restructuring of CHF 4 |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Earnings per share | in 2Q21 1Q21 2Q20 6M21 6M20 Basic net income/(loss) attributable to shareholders (CHF million) Net income/(loss) attributable to shareholders for basic earnings per share 253 (252) 1,162 1 2,476 Available for common shares 252 (252) 1,162 1 2,476 Available for mandatory convertible notes 1 – – – – Net income/(loss) attributable to shareholders for diluted earnings per share 253 (252) 1,162 1 2,476 Available for common shares 252 (252) 1,162 1 2,476 Available for mandatory convertible notes 1 – – – – Weighted-average shares outstanding (million) For basic earnings per share available for common shares 2,453.9 2,446.6 2,473.6 2,450.3 2,469.7 Dilutive share options and warrants 0.8 0.0 2.6 0.6 2.1 Dilutive share awards 55.1 0.0 35.2 73.6 47.7 For diluted earnings per share available for common shares 1 2,509.8 2,446.6 2 2,511.4 2,524.5 2,519.5 Weighted-average shares outstanding for basic/diluted earnings per share available for mandatory convertible notes 130.8 – – 65.4 – Earnings/(loss) per share available for common shares (CHF) Basic earnings/(loss) per share available for common shares 0.10 (0.10) 0.47 0.00 1.00 Diluted earnings/(loss) per share available for common shares 0.10 (0.10) 0.46 0.00 0.98 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 9.6 million, 6.5 million, 5.3 million, 8.1 million and 4.8 million for 2Q21, 1Q21, 2Q20, 6M21 and 6M20, respectively. 2 Due to the net loss in 1Q21, 0.4 million of weighted-average share options and warrants outstanding and 92.0 million of weighted-average share awards outstanding were excluded from the diluted earnings per share calculation, as the effect would be antidilutive. |
Revenue from contracts with c_2
Revenue from contracts with customers (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Contract with Customer, Asset and Liability [Table Text Block] | Contracts with customers and disaggregation of revenues in 2Q21 1Q21 2Q20 6M21 6M20 Contracts with customers (CHF million) Investment and portfolio management 891 861 752 1,752 1,562 Other securities business 15 13 18 28 36 Underwriting 626 989 560 1,615 924 Brokerage 693 908 805 1,601 1,771 Other services 445 448 387 893 724 Total revenues from contracts with customers 2,670 3,219 2,522 5,889 5,017 |
Revenue from External Customers by Products and Services [Table Text Block] | Contract balances end of 2Q21 1Q21 4Q20 Contract balances (CHF million) Contract receivables 1,011 1,120 1,001 Contract liabilities 52 65 48 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 18 8 7 |
Bank | |
Contract with Customer, Asset and Liability [Table Text Block] | Contracts with customers and disaggregation of revenues in 6M21 6M20 Contracts with customers (CHF million) Investment and portfolio management 1,699 1,508 Other securities business 29 40 Underwriting 1,664 981 Brokerage 1,623 1,772 Other services 937 774 Total revenues from contracts with customers 5,952 5,075 |
Revenue from External Customers by Products and Services [Table Text Block] | Contract balances end of 2Q21 1Q21 4Q20 Contract balances (CHF million) Contract receivables 1,032 1,123 993 Contract liabilities 52 65 48 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 18 8 7 |
Trading assets and liabilities
Trading assets and liabilities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Trading assets and liabilities | end of 2Q21 1Q21 4Q20 Trading assets (CHF million) Debt securities 57,620 64,128 64,395 Equity securities 44,226 60,340 63,237 Derivative instruments 1 24,156 28,638 25,531 Other 4,503 4,033 4,175 Trading assets 130,505 157,139 157,338 Trading liabilities (CHF million) Short positions 20,369 31,326 28,126 Derivative instruments 1 12,603 16,414 17,745 Trading liabilities 32,972 47,740 45,871 1 Amounts shown after counterparty and cash collateral netting. |
Cash collateral receivables and payables | Cash collateral on derivative instruments end of 2Q21 1Q21 4Q20 Cash collateral on derivatives instruments – netted (CHF million) 1 Cash collateral paid 21,161 24,630 26,815 Cash collateral received 13,865 13,966 16,795 Cash collateral on derivatives instruments– not netted (CHF million) 2 Cash collateral paid 7,664 8,817 7,741 Cash collateral received 7,200 8,839 7,831 1 Recorded as cash collateral netting on derivative instruments in Note 24 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 21 – Other assets and other liabilities. |
Bank | |
Trading assets and liabilities | end of 6M21 2020 Trading assets (CHF million) Debt securities 57,739 64,532 Equity securities 44,287 63,273 Derivative instruments 1 24,155 25,531 Other 4,503 4,175 Trading assets 130,684 157,511 Trading liabilities (CHF million) Short positions 20,369 28,126 Derivative instruments 1 12,602 17,745 Trading liabilities 32,971 45,871 1 Amounts shown after counterparty and cash collateral netting. |
Cash collateral receivables and payables | Cash collateral on derivative instruments end of 6M21 2020 Cash collateral on derivative instruments – netted (CHF million) 1 Cash collateral paid 21,162 26,885 Cash collateral received 13,865 16,795 Cash collateral on derivative instruments – not netted (CHF million) 2 Cash collateral paid 7,664 7,741 Cash collateral received 7,209 7,831 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. |
Investment securities (Tables)
Investment securities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Investment securities | end of 2Q21 1Q21 4Q20 Investment securities (CHF million) Debt securities available-for-sale 794 614 607 Total investment securities 794 614 607 |
Investment securities by type | Investment securities by type 2Q21 4Q20 Gross Gross Gross Gross Investment securities by type (CHF million) Swiss federal, cantonal or local government entities 2 0 0 2 3 0 0 3 Foreign governments 32 0 0 32 0 0 0 0 Corporate debt securities 757 4 1 760 593 11 0 604 Debt securities available-for-sale 791 4 1 794 596 11 0 607 |
Gross unrealized losses on investment securities and the related fair value | Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M21 6M20 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 0 626 Realized gains 0 42 |
Amortized cost, fair value and average yield of debt securities | Amortized cost, fair value and average yield of debt securities Average 2Q21 (CHF million, except where indicated) Due within 1 year 174 174 0.03 Due from 1 to 5 years 2 2 3.81 Due from 5 to 10 years 615 618 0.02 Debt securities available-for-sale 791 794 0.03 |
Bank | |
Investment securities | end of 6M21 2020 Investment securities (CHF million) Debt securities available-for-sale 792 605 Total investment securities 792 605 |
Investment securities by type | Investment securities by type 6M21 2020 Gross Gross Gross Gross Investment securities by type (CHF million) Swiss federal, cantonal or local government entities 0 0 0 0 1 0 0 1 Foreign governments 32 0 0 32 0 0 0 0 Corporate debt securities 757 4 1 760 594 10 0 604 Debt securities available-for-sale 789 4 1 792 595 10 0 605 |
Gross unrealized losses on investment securities and the related fair value | Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M21 6M20 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 0 626 Realized gains 0 42 |
Amortized cost, fair value and average yield of debt securities | Amortized cost, fair value and average yield of debt securities Average Due within 1 year 174 174 0.03 Due from 5 to 10 years 615 618 0.02 Debt securities available-for-sale 789 792 0.02 |
Other investments (Tables)
Other investments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Other investments | end of 2Q21 1Q21 4Q20 Other investments (CHF million) Equity method investments 1,757 2,812 2,631 Equity securities (without a readily determinable fair value) 1 1,867 1,834 1,779 of which at net asset value 122 114 113 of which at measurement alternative 355 367 359 of which at fair value 1,343 1,321 1,278 of which at cost less impairment 47 32 29 Real estate held-for-investment 2 77 78 82 Life finance instruments 3 877 916 920 Total other investments 4,578 5,640 5,412 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 2Q21 1Q21 4Q20 3 Includes single premium immediate annuity contracts. |
Impairments and adjustments on equity securities at measurement alternative | Equity securities at measurement alternative in / end of 6M21 Cumulative 6M20 Impairments and adjustments (CHF million) Impairments and downward adjustments (5) (30) (3) Upward adjustments 0 137 137 |
Bank | |
Other investments | end of 6M21 2020 Other investments (CHF million) Equity method investments 1,750 2,624 Equity securities (without a readily determinable fair value) 1 1,864 1,776 of which at net asset value 122 111 of which at measurement alternative 353 357 of which at fair value 1,342 1,278 of which at cost less impairment 47 30 Real estate held-for-investment 2 52 59 Life finance instruments 3 877 920 Total other investments 4,543 5,379 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 6M21 and 2020, real estate held for investment included foreclosed or repossessed real estate of CHF 10 million and CHF 16 million, respectively, of which CHF 8 million and CHF 13 million, respectively, 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 6M21 Cumulative 6M20 Impairments and adjustments (CHF million) Impairments and downward adjustments (5) (30) (3) Upward adjustments 0 137 137 |
Loans, allowance for loan los_2
Loans, allowance for loan losses and credit quality (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Loans | Loans end of 2Q21 1Q21 4Q20 Loans (CHF million) Mortgages 112,223 111,678 111,270 Loans collateralized by securities 54,573 56,281 51,789 Consumer finance 6,567 5,889 4,888 Consumer 173,363 173,848 167,947 Real estate 29,464 30,320 29,045 Commercial and industrial loans 73,923 76,528 74,097 Financial institutions 21,016 21,353 19,072 Governments and public institutions 3,584 3,770 3,378 Corporate & institutional 127,987 131,971 125,592 Gross loans 301,350 305,819 293,539 of which held at amortized cost 290,249 293,992 282,131 of which held at fair value 11,101 11,827 11,408 Net (unearned income)/deferred expenses (94) (104) (95) Allowance for credit losses (1,412) (1,527) (1,536) Net loans 299,844 304,188 291,908 Gross loans by location (CHF million) Switzerland 170,902 171,126 168,589 Foreign 130,448 134,693 124,950 Gross loans 301,350 305,819 293,539 Impaired loan portfolio (CHF million) Non-performing loans 1,896 1,809 1,666 Non-interest-earning loans 383 380 375 Non-accrual loans 2,279 2,189 2,041 Restructured loans 471 472 313 Potential problem loans 406 512 843 Other impaired loans 877 984 1,156 Gross impaired loans 1 3,156 3,173 3,197 1 As of the end of 2Q21, 1Q21 and 4Q20, CHF 181 million, CHF 176 million and CHF 180 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 6M21 2020 Loans (CHF million) Mortgages 112,223 111,270 Loans collateralized by securities 54,573 51,789 Consumer finance 6,567 4,888 Consumer 173,363 167,947 Real estate 29,464 29,045 Commercial and industrial loans 74,570 74,700 Financial institutions 28,683 26,901 Governments and public institutions 3,584 3,378 Corporate & institutional 136,301 134,024 Gross loans 309,664 301,971 of which held at amortized cost 298,563 290,563 of which held at fair value 11,101 11,408 Net (unearned income)/deferred expenses (94) (95) Allowance for credit losses (1,411) (1,535) Net loans 308,159 300,341 Gross loans by location Switzerland 178,458 176,312 Foreign 131,206 125,659 Gross loans 309,664 301,971 Impaired loans Non-performing loans 1,896 1,666 Non-interest-earning loans 371 363 Non-accrual loans 2,267 2,029 Restructured loans 471 313 Potential problem loans 406 843 Other impaired loans 877 1,156 Gross impaired loans 1 3,144 3,185 1 As of the end of 6M21 and 2020, CHF 181 million and CHF 180 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, 2021 | |
Financial instruments measured at amortized costs | Overview of financial instruments measured at amortized cost – by balance sheet position 2Q21 4Q20 1 Allowance Net 1 Allowance Net CHF million Cash and due from banks 146,217 0 146,217 138,593 (6) 138,587 Interest-bearing deposits with banks 1,313 2 0 1,313 1,303 4 (5) 1,298 Securities purchased under resale agreements and securities borrowing transactions 25,180 2 0 25,180 21,139 0 21,139 Loans 290,155 2,3 (1,412) 288,743 282,036 4,5 (1,536) 280,500 Brokerage receivables 37,501 2 (4,429) 33,072 35,942 4 (1) 35,941 Other assets 14,147 (41) 14,106 15,394 (43) 15,351 Total 514,513 (5,882) 508,631 494,407 (1,591) 492,816 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest for credit losses in the total amount of CHF 380 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million relates to interest-bearing deposits with banks, CHF 1 million to securities purchased under resale agreements and securities borrowing transactions, CHF 363 million to loans and CHF 15 million to brokerage receivables. These accrued interest balances are reported in other assets. 3 Includes endangered interest of CHF 89 million on non-accrual loans which are reported as part of the loans' amortized cost balance. 4 Excludes accrued interest for credit losses in the total amount of CHF 351 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million relates to interest-bearing deposits with banks, CHF 334 million to loans and CHF 16 million to brokerage receivables. These accrued interest balances are reported in other assets. 5 Includes endangered interest of CHF 88 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 2Q21 1Q21 2Q20 Corporate & Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 329 1,198 1,527 318 1,218 1,536 349 1,082 1,431 Current-period provision for expected credit losses 31 (44) (13) 12 (35) (23) 62 218 280 of which provisions for interest 1 7 8 15 1 0 1 16 0 16 Gross write-offs (13) (77) (90) (14) (24) (38) (12) (24) (36) Recoveries 2 0 2 2 0 2 2 1 3 Net write-offs (11) (77) (88) (12) (24) (36) (10) (23) (33) Foreign currency translation impact and other adjustments, net (4) (10) (14) 11 39 50 (2) (7) (9) Balance at end of period 345 1,067 1,412 329 1,198 1,527 399 1,270 1,669 of which individually evaluated 255 614 869 240 627 867 313 586 899 of which collectively evaluated 90 453 543 89 571 660 86 684 770 6M21 6M20 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 318 1,218 1,536 241 808 1,049 Current-period provision for expected credit losses 43 (79) (36) 183 533 716 of which provisions for interest 1 8 8 16 21 4 25 Gross write-offs (27) (101) (128) (24) (59) (83) Recoveries 4 0 4 5 2 7 Net write-offs (23) (101) (124) (19) (57) (76) Foreign currency translation impact and other adjustments, net 7 29 36 (6) (14) (20) Balance at end of period 345 1,067 1,412 399 1,270 1,669 1 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 2Q21 1Q21 2Q20 Corporate & Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 12 981 993 5 988 993 21 643 664 Reclassifications from loans held-for-sale 2 0 0 0 0 13 13 0 4 4 Reclassifications to loans held-for-sale 3 0 1,652 1,652 0 468 468 0 528 528 Sales 3 0 1,633 1,633 0 374 374 0 558 558 6M21 6M20 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 17 1,969 1,986 21 1,328 1,349 Reclassifications from loans held-for-sale 2 0 13 13 0 4 4 Reclassifications to loans held-for-sale 3 0 2,120 2,120 0 988 988 Sales 3 0 2,007 2,007 0 980 980 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 2Q21 1Q21 2Q20 6M21 6M20 CHF million Balance at beginning of period 4,488 55 52 55 45 Current-period provision for expected credit losses 56 4,434 21 4,490 36 Gross write-offs (4) 0 (1) (4) (9) Recoveries 0 0 1 0 1 Net write-offs (4) 0 0 (4) (8) Foreign currency translation impact and other adjustments, net (70) (1) (3) (71) (3) Balance at end of period 4,470 4,488 70 4,470 70 of which individually evaluated 4,450 4,449 20 4,450 20 of which collectively evaluated 20 39 50 20 50 |
Loans held at amortized cost by internal counterparty rating | Consumer loans held at amortized cost by internal counterparty rating 2Q21 4Q20 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Mortgages 2021 / 2020 13,021 1,153 6 14,180 18,765 1,664 3 20,432 2020 / 2019 17,518 1,701 17 19,236 14,072 1,511 26 15,609 2019 / 2018 12,435 1,554 50 14,039 10,242 932 58 11,232 2018 / 2017 8,711 1,031 80 9,822 7,087 857 44 7,988 2017 / 2016 5,992 821 126 6,939 10,951 914 76 11,941 Prior years 43,362 3,091 342 46,795 39,918 2,854 216 42,988 Total term loans 101,039 9,351 621 111,011 101,035 8,732 423 110,190 Revolving loans 319 893 0 1,212 528 548 4 1,080 Total 101,358 10,244 621 112,223 101,563 9,280 427 111,270 Loans collateralized by securities 2021 / 2020 2,061 371 0 2,432 1,682 1,547 149 3,378 2020 / 2019 1,273 1,170 0 2,443 1,019 324 0 1,343 2019 / 2018 562 210 0 772 499 64 0 563 2018 / 2017 49 25 113 187 61 41 0 102 2017 / 2016 96 15 0 111 200 127 0 327 Prior years 1,135 697 0 1,832 563 622 0 1,185 Total term loans 5,176 2,488 113 7,777 4,024 2,725 149 6,898 Revolving loans 1 43,499 3,154 143 46,796 41,749 3,038 104 44,891 Total 48,675 5,642 256 54,573 45,773 5,763 253 51,789 Consumer finance 2021 / 2020 1,494 737 1 2,232 1,297 903 5 2,205 2020 / 2019 733 548 10 1,291 519 505 22 1,046 2019 / 2018 450 413 19 882 279 237 23 539 2018 / 2017 419 221 18 658 81 154 17 252 2017 / 2016 50 116 15 181 16 57 10 83 Prior years 397 107 44 548 48 92 41 181 Total term loans 3,543 2,142 107 5,792 2,240 1,948 118 4,306 Revolving loans 493 75 90 658 328 88 81 497 Total 4,036 2,217 197 6,450 2,568 2,036 199 4,803 Consumer – total 2021 / 2020 16,576 2,261 7 18,844 21,744 4,114 157 26,015 2020 / 2019 19,524 3,419 27 22,970 15,610 2,340 48 17,998 2019 / 2018 13,447 2,177 69 15,693 11,020 1,233 81 12,334 2018 / 2017 9,179 1,277 211 10,667 7,229 1,052 61 8,342 2017 / 2016 6,138 952 141 7,231 11,167 1,098 86 12,351 Prior years 44,894 3,895 386 49,175 40,529 3,568 257 44,354 Total term loans 109,758 13,981 841 124,580 107,299 13,405 690 121,394 Revolving loans 44,311 4,122 233 48,666 42,605 3,674 189 46,468 Total 154,069 18,103 1,074 173,246 149,904 17,079 879 167,862 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating 2Q21 4Q20 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Real estate 2021 / 2020 5,254 2,724 2 7,980 6,054 2,792 106 8,952 2020 / 2019 4,614 2,443 6 7,063 2,902 1,611 0 4,513 2019 / 2018 2,429 1,129 2 3,560 1,849 1,133 24 3,006 2018 / 2017 1,350 661 1 2,012 1,033 346 72 1,451 2017 / 2016 778 178 2 958 1,591 285 25 1,901 Prior years 4,710 888 31 5,629 5,982 1,105 33 7,120 Total term loans 19,135 8,023 44 27,202 19,411 7,272 260 26,943 Revolving loans 884 338 138 1,360 1,027 172 69 1,268 Total 20,019 8,361 182 28,562 20,438 7,444 329 28,211 Commercial and industrial loans 2021 / 2020 5,353 8,965 94 14,412 7,724 11,621 310 19,655 2020 / 2019 4,225 6,802 108 11,135 3,851 6,411 133 10,395 2019 / 2018 3,177 5,027 157 8,361 1,781 4,321 247 6,349 2018 / 2017 1,309 3,403 170 4,882 964 1,981 60 3,005 2017 / 2016 831 1,480 37 2,348 809 1,248 22 2,079 Prior years 2,666 3,810 120 6,596 2,830 3,837 128 6,795 Total term loans 17,561 29,487 686 47,734 17,959 29,419 900 48,278 Revolving loans 14,311 8,278 475 23,064 12,913 8,908 464 22,285 Total 31,872 37,765 1,161 70,798 30,872 38,327 1,364 70,563 Financial institutions 2021 / 2020 2,829 1,055 40 3,924 3,386 697 43 4,126 2020 / 2019 2,249 271 44 2,564 1,973 132 39 2,144 2019 / 2018 745 142 1 888 960 432 9 1,401 2018 / 2017 684 377 9 1,070 97 92 0 189 2017 / 2016 69 38 0 107 37 102 20 159 Prior years 254 136 15 405 288 38 2 328 Total term loans 6,830 2,019 109 8,958 6,741 1,493 113 8,347 Revolving loans 7,093 364 1 7,458 5,718 419 1 6,138 Total 13,923 2,383 110 16,416 12,459 1,912 114 14,485 Governments and public institutions 2021 / 2020 427 38 0 465 174 33 0 207 2020 / 2019 178 58 0 236 135 20 10 165 2019 / 2018 99 20 20 139 80 0 0 80 2018 / 2017 57 11 0 68 35 0 0 35 2017 / 2016 30 0 0 30 74 1 0 75 Prior years 252 22 0 274 388 41 0 429 Total term loans 1,043 149 20 1,212 886 95 10 991 Revolving loans 15 0 0 15 19 0 0 19 Total 1,058 149 20 1,227 905 95 10 1,010 Corporate & institutional – total 2021 / 2020 13,863 12,782 136 26,781 17,338 15,143 459 32,940 2020 / 2019 11,266 9,574 158 20,998 8,861 8,174 182 17,217 2019 / 2018 6,450 6,318 180 12,948 4,670 5,886 280 10,836 2018 / 2017 3,400 4,452 180 8,032 2,129 2,419 132 4,680 2017 / 2016 1,708 1,696 39 3,443 2,511 1,636 67 4,214 Prior years 7,882 4,856 166 12,904 9,488 5,021 163 14,672 Total term loans 44,569 39,678 859 85,106 44,997 38,279 1,283 84,559 Revolving loans 22,303 8,980 614 31,897 19,677 9,499 534 29,710 Total 66,872 48,658 1,473 117,003 64,674 47,778 1,817 114,269 Total loans held at amortized cost by internal counterparty rating 2Q21 4Q20 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Loans held at amortized cost – total 2021 / 2020 30,439 15,043 143 45,625 39,082 19,257 616 58,955 2020 / 2019 30,790 12,993 185 43,968 24,471 10,514 230 35,215 2019 / 2018 19,897 8,495 249 28,641 15,690 7,119 361 23,170 2018 / 2017 12,579 5,729 391 18,699 9,358 3,471 193 13,022 2017 / 2016 7,846 2,648 180 10,674 13,678 2,734 153 16,565 Prior years 52,776 8,751 552 62,079 50,017 8,589 420 59,026 Total term loans 154,327 53,659 1,700 209,686 152,296 51,684 1,973 205,953 Revolving loans 66,614 13,102 847 80,563 62,282 13,173 723 76,178 Total 220,941 66,761 2,547 290,249 1 214,578 64,857 2,696 282,131 1 1 Excludes accrued interest on loans held at amortized cost of CHF 363 million and CHF 334 million as of the end of 2Q21 and 4Q20, respectively. |
Other Financial Assets Credit Quality Indicators [Table Text Block] | Other financial assets held at amortized cost by internal counterparty rating 2Q21 4Q20 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Other financial assets held at amortized cost 2019 / 2018 0 0 0 0 0 70 0 70 2018 / 2017 0 70 0 70 0 2 0 2 2017 / 2016 0 1 0 1 0 4 0 4 Prior years 0 3 0 3 0 0 0 0 Total term positions 0 74 0 74 0 76 0 76 Revolving positions 0 814 0 814 0 934 0 934 Total 0 888 0 888 0 1,010 0 1,010 Includes primarily mortgage servicing advances and failed purchases. |
Financing Receivable, Nonaccrual [Table Text Block] | Non-accrual loans held at amortized cost 6M21 6M20 Amortized Amortized CHF million Mortgages 418 615 2 167 337 380 1 20 Loans collateralized by securities 105 298 3 0 122 377 3 75 Consumer finance 201 200 1 1 168 204 0 4 Consumer 724 1,113 6 168 627 961 4 99 Real estate 324 293 6 46 155 270 3 37 Commercial and industrial loans 925 790 8 30 682 978 21 41 Financial institutions 68 63 0 0 46 65 0 8 Governments and public institutions 0 20 0 0 0 0 0 0 Corporate & institutional 1,317 1,166 14 76 883 1,313 24 86 Total loans held at amortized cost 2,041 2,279 20 244 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 2Q21 (CHF million) Mortgages 111,521 167 45 27 463 702 112,223 Loans collateralized by securities 54,411 5 38 1 118 162 54,573 Consumer finance 5,750 476 15 48 161 700 6,450 Consumer 171,682 648 98 76 742 1,564 173,246 Real estate 28,161 91 122 4 184 401 28,562 Commercial and industrial loans 69,391 388 236 49 734 1,407 70,798 Financial institutions 16,278 72 0 0 66 138 16,416 Governments and public institutions 1,192 15 0 0 20 35 1,227 Corporate & institutional 115,022 566 358 53 1,004 1,981 117,003 Total loans held at amortized cost 286,704 1,214 456 129 1,746 3,545 290,249 1 4Q20 (CHF million) Mortgages 110,747 63 68 34 358 523 111,270 Loans collateralized by securities 51,668 17 0 0 104 121 51,789 Consumer finance 4,361 156 68 47 171 442 4,803 Consumer 166,776 236 136 81 633 1,086 167,862 Real estate 28,070 50 3 11 77 141 28,211 Commercial and industrial loans 69,060 630 54 137 682 1,503 70,563 Financial institutions 14,311 41 15 72 46 174 14,485 Governments and public institutions 969 37 4 0 0 41 1,010 Corporate & institutional 112,410 758 76 220 805 1,859 114,269 Total loans held at amortized cost 279,186 994 212 301 1,438 2,945 282,131 1 1 Excludes accrued interest on loans held at amortized cost of CHF 363 million and CHF 334 million as of the end of 2Q21 and 4Q20, respectively. |
Restructured financing receivables held at amortized cost | Restructured financing receivables held at amortized cost 2Q21 1Q21 2Q20 Recorded Recorded Recorded Recorded Recorded Recorded CHF million, except where indicated Loans collateralized by securities 0 0 0 0 0 0 2 116 116 Real estate 1 2 2 0 0 0 0 0 0 Commercial and industrial loans 4 19 15 10 371 367 1 2 1 Financial institutions 0 0 0 1 44 44 0 0 0 Total loans 5 21 17 11 415 411 3 118 117 6M21 6M20 Recorded Recorded Recorded Recorded CHF million, except where indicated Loans collateralized by securities 0 0 0 2 116 116 Real estate 1 2 2 0 0 0 Commercial and industrial loans 14 390 382 7 32 15 Financial institutions 1 44 44 0 0 0 Total loans 16 436 428 9 148 131 |
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 2Q21 1Q21 2Q20 Number of Recorded Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 3 156 0 0 0 0 Commercial and industrial loans 0 0 0 0 3 12 Total loans 3 156 0 0 3 12 Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring (continued) 6M21 6M20 Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 3 156 0 0 Commercial and industrial loans 0 0 3 12 Total loans 3 156 3 12 |
Bank | |
Financial instruments measured at amortized costs | Overview of financial instruments measured at amortized cost – by balance sheet position 6M21 2020 1 Allowance Net 1 Allowance Net Cash and due from banks 145,226 0 145,226 137,683 (1) 137,682 Interest-bearing deposits with banks 1,245 2 0 1,245 1,235 4 (5) 1,230 Securities purchased under resale agreements and securities borrowing transactions 25,180 2 0 25,180 21,139 0 21,139 Loans 298,469 2,3 (1,411) 297,058 290,468 4,5 (1,535) 288,933 Brokerage receivables 37,503 2 (4,429) 33,074 35,944 4 (1) 35,943 Other assets 14,245 (39) 14,206 15,540 (41) 15,499 Total 521,868 (5,879) 515,989 502,009 (1,583) 500,426 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest for credit losses in the total amount of CHF 380 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million relates to interest-bearing deposits with banks, CHF 1 million to securities purchased under resale agreements and securities borrowing transactions, CHF 363 million to loans and CHF 15 million to brokerage receivables. These accrued interest balances are reported in other assets. 3 Includes endangered interest of CHF 88 million on non-accrual loans which are reported as part of the loans' amortized cost balance. 4 Excludes accrued interest for credit losses in the total amount of CHF 351 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million relates to interest-bearing deposits with banks, CHF 334 million to loans and CHF 16 million to brokerage receivables. These accrued interest balances are reported in other assets. 5 Includes endangered interest of CHF 87 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 6M21 6M20 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 318 1,217 1,535 241 807 1,048 Current-period provision for expected credit losses 43 (79) (36) 183 533 716 of which provisions for interest 1 8 8 16 21 4 25 Gross write-offs (27) (101) (128) (24) (59) (83) Recoveries 4 0 4 5 2 7 Net write-offs (23) (101) (124) (19) (57) (76) Foreign currency translation impact and other adjustments, net 7 29 36 (6) (14) (20) Balance at end of period 345 1,066 1,411 399 1,269 1,668 of which individually evaluated 255 613 868 313 585 898 of which collectively evaluated 90 453 543 86 684 770 1 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 6M21 6M20 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 17 1,969 1,986 21 1,328 1,349 Reclassifications from loans held-for-sale 2 0 13 13 0 4 4 Reclassifications to loans held-for-sale 3 0 2,120 2,120 0 988 988 Sales 3 0 2,007 2,007 0 980 980 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 6M21 6M20 CHF million Balance at beginning of period 48 43 Current-period provision for expected credit losses 4,494 32 Gross write-offs (4) (9) Recoveries 0 1 Net write-offs (4) (8) Foreign currency translation impact and other adjustments, net (70) (4) Balance at end of period 4,468 63 of which individually evaluated 4,448 19 of which collectively evaluated 20 44 |
Loans held at amortized cost by internal counterparty rating | Consumer loans held at amortized cost by internal counterparty rating 6M21 2020 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total Mortgages 2021 / 2020 13,021 1,153 6 14,180 18,765 1,664 3 20,432 2020 / 2019 17,518 1,701 17 19,236 14,072 1,511 26 15,609 2019 / 2018 12,435 1,554 50 14,039 10,242 932 58 11,232 2018 / 2017 8,711 1,031 80 9,822 7,087 857 44 7,988 2017 / 2016 5,992 821 126 6,939 10,951 914 76 11,941 Prior years 43,362 3,091 342 46,795 39,918 2,854 216 42,988 Total term loans 101,039 9,351 621 111,011 101,035 8,732 423 110,190 Revolving loans 319 893 0 1,212 528 548 4 1,080 Total 101,358 10,244 621 112,223 101,563 9,280 427 111,270 Loans collateralized by securities 2021 / 2020 2,061 371 0 2,432 1,682 1,547 149 3,378 2020 / 2019 1,273 1,170 0 2,443 1,019 324 0 1,343 2019 / 2018 562 210 0 772 499 64 0 563 2018 / 2017 49 25 113 187 61 41 0 102 2017 / 2016 96 15 0 111 200 127 0 327 Prior years 1,135 697 0 1,832 563 622 0 1,185 Total term loans 5,176 2,488 113 7,777 4,024 2,725 149 6,898 Revolving loans 1 43,499 3,154 143 46,796 41,749 3,038 104 44,891 Total 48,675 5,642 256 54,573 45,773 5,763 253 51,789 Consumer finance 2021 / 2020 1,494 737 1 2,232 1,297 903 5 2,205 2020 / 2019 733 548 10 1,291 519 505 22 1,046 2019 / 2018 450 413 19 882 279 237 23 539 2018 / 2017 419 221 18 658 81 154 17 252 2017 / 2016 50 116 15 181 16 57 10 83 Prior years 397 107 44 548 48 92 41 181 Total term loans 3,543 2,142 107 5,792 2,240 1,948 118 4,306 Revolving loans 493 75 90 658 328 88 81 497 Total 4,036 2,217 197 6,450 2,568 2,036 199 4,803 Consumer – total 2021 / 2020 16,576 2,261 7 18,844 21,744 4,114 157 26,015 2020 / 2019 19,524 3,419 27 22,970 15,610 2,340 48 17,998 2019 / 2018 13,447 2,177 69 15,693 11,020 1,233 81 12,334 2018 / 2017 9,179 1,277 211 10,667 7,229 1,052 61 8,342 2017 / 2016 6,138 952 141 7,231 11,167 1,098 86 12,351 Prior years 44,894 3,895 386 49,175 40,529 3,568 257 44,354 Total term loans 109,758 13,981 841 124,580 107,299 13,405 690 121,394 Revolving loans 44,311 4,122 233 48,666 42,605 3,674 189 46,468 Total 154,069 18,103 1,074 173,246 149,904 17,079 879 167,862 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating 6M21 2020 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total Real estate 2021 / 2020 5,254 2,724 2 7,980 6,054 2,792 106 8,952 2020 / 2019 4,614 2,443 6 7,063 2,902 1,611 0 4,513 2019 / 2018 2,429 1,129 2 3,560 1,849 1,133 24 3,006 2018 / 2017 1,350 661 1 2,012 1,033 346 72 1,451 2017 / 2016 778 178 2 958 1,591 285 25 1,901 Prior years 4,710 888 31 5,629 5,982 1,105 33 7,120 Total term loans 19,135 8,023 44 27,202 19,411 7,272 260 26,943 Revolving loans 884 338 138 1,360 1,027 172 69 1,268 Total 20,019 8,361 182 28,562 20,438 7,444 329 28,211 Commercial and industrial loans 2021 / 2020 5,353 8,965 94 14,412 7,724 11,621 310 19,655 2020 / 2019 4,225 6,802 108 11,135 3,851 6,411 133 10,395 2019 / 2018 3,177 5,027 157 8,361 1,781 4,321 247 6,349 2018 / 2017 1,309 3,403 170 4,882 964 1,981 60 3,005 2017 / 2016 831 1,480 37 2,348 809 1,248 22 2,079 Prior years 2,666 3,810 108 6,584 2,830 3,837 116 6,783 Total term loans 17,561 29,487 674 47,722 17,959 29,419 888 48,266 Revolving loans 14,311 8,278 475 23,064 12,913 8,908 464 22,285 Total 31,872 37,765 1,149 70,786 30,872 38,327 1,352 70,551 Financial institutions 2021 / 2020 2,829 1,055 40 3,924 3,386 697 43 4,126 2020 / 2019 2,249 271 44 2,564 1,973 132 39 2,144 2019 / 2018 745 142 1 888 960 432 9 1,401 2018 / 2017 684 377 9 1,070 97 92 0 189 2017 / 2016 69 38 0 107 37 102 20 159 Prior years 254 136 15 405 288 38 2 328 Total term loans 6,830 2,019 109 8,958 6,741 1,493 113 8,347 Revolving loans 7,093 364 1 7,458 5,718 419 1 6,138 Total 13,923 2,383 110 16,416 12,459 1,912 114 14,485 Governments and public institutions 2021 / 2020 427 38 0 465 174 33 0 207 2020 / 2019 178 58 0 236 135 20 10 165 2019 / 2018 99 20 20 139 80 0 0 80 2018 / 2017 57 11 0 68 35 0 0 35 2017 / 2016 30 0 0 30 74 1 0 75 Prior years 252 22 0 274 388 41 0 429 Total term loans 1,043 149 20 1,212 886 95 10 991 Revolving loans 15 0 0 15 19 0 0 19 Total 1,058 149 20 1,227 905 95 10 1,010 Corporate & institutional – total 2021 / 2020 13,863 12,782 136 26,781 17,338 15,143 459 32,940 2020 / 2019 11,266 9,574 158 20,998 8,861 8,174 182 17,217 2019 / 2018 6,450 6,318 180 12,948 4,670 5,886 280 10,836 2018 / 2017 3,400 4,452 180 8,032 2,129 2,419 132 4,680 2017 / 2016 1,708 1,696 39 3,443 2,511 1,636 67 4,214 Prior years 7,882 4,856 154 12,892 9,488 5,021 151 14,660 Total term loans 44,569 39,678 847 85,094 44,997 38,279 1,271 84,547 Revolving loans 22,303 8,980 614 31,897 19,677 9,499 534 29,710 Total 66,872 48,658 1,461 116,991 64,674 47,778 1,805 114,257 Total loans held at amortized cost by internal counterparty rating 6M21 2020 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total Loans held at amortized cost – total 2021 / 2020 30,439 15,043 143 45,625 39,082 19,257 616 58,955 2020 / 2019 30,790 12,993 185 43,968 24,471 10,514 230 35,215 2019 / 2018 19,897 8,495 249 28,641 15,690 7,119 361 23,170 2018 / 2017 12,579 5,729 391 18,699 9,358 3,471 193 13,022 2017 / 2016 7,846 2,648 180 10,674 13,678 2,734 153 16,565 Prior years 52,776 8,751 540 62,067 50,017 8,589 408 59,014 Total term loans 154,327 53,659 1,688 209,674 152,296 51,684 1,961 205,941 Revolving loans 66,614 13,102 847 80,563 62,282 13,173 723 76,178 Total loans to third parties 220,941 66,761 2,535 290,237 214,578 64,857 2,684 282,119 Total loans to entities under common control 8,324 2 0 8,326 8,444 0 0 8,444 Total 229,265 66,763 2,535 298,563 223,022 64,857 2,684 290,563 1 1 Excludes accrued interest on loans held at amortized cost of CHF 363 million and CHF 334 million as of the end of 6M21 and 2020, respectively. |
Other Financial Assets Credit Quality Indicators [Table Text Block] | Other financial assets held at amortized cost by internal counterparty rating 6M21 2020 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total 6M21 (CHF million) Other financial assets held at amortized cost 2019 0 0 0 0 0 70 0 70 2018 0 70 0 70 0 2 0 2 2017 0 1 0 1 0 4 0 4 Prior years 0 3 0 3 0 0 0 0 Total term positions 0 74 0 74 0 76 0 76 Revolving positions 0 814 0 814 0 934 0 934 Total 0 888 0 888 0 1,010 0 1,010 Includes primarily mortgage servicing advances and failed purchases. |
Financing Receivable, Nonaccrual [Table Text Block] | Non-accrual loans held at amortized cost 6M21 6M20 Amortized Amortized CHF million Mortgages 418 615 2 167 337 380 1 20 Loans collateralized by securities 105 298 3 0 122 377 3 75 Consumer finance 201 200 1 1 168 204 0 4 Consumer 724 1,113 6 168 627 961 4 99 Real estate 324 293 6 46 155 270 3 37 Commercial and industrial loans 913 778 8 30 670 966 21 41 Financial institutions 68 63 0 0 46 65 0 8 Governments and public institutions 0 20 0 0 0 0 0 0 Corporate & institutional 1,305 1,154 14 76 871 1,301 24 86 Total loans held at amortized cost 2,029 2,267 20 244 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 6M21 (CHF million) Mortgages 111,521 167 45 27 463 702 112,223 Loans collateralized by securities 54,411 5 38 1 118 162 54,573 Consumer finance 5,750 476 15 48 161 700 6,450 Consumer 171,682 648 98 76 742 1,564 173,246 Real estate 28,161 91 122 4 184 401 28,562 Commercial and industrial loans 69,390 388 236 49 723 1,396 70,786 Financial institutions 16,278 72 0 0 66 138 16,416 Governments and public institutions 1,192 15 0 0 20 35 1,227 Corporate & institutional 115,021 566 358 53 993 1,970 116,991 Total loans to third parties 286,703 1,214 456 129 1,735 3,534 290,237 Total loans to entities under common control 8,326 0 0 0 0 0 8,326 Total loans held at amortized cost 295,029 1,214 456 129 1,735 3,534 298,563 1 2020 (CHF million) Mortgages 110,747 63 68 34 358 523 111,270 Loans collateralized by securities 51,668 17 0 0 104 121 51,789 Consumer finance 4,361 156 68 47 171 442 4,803 Consumer 166,776 236 136 81 633 1,086 167,862 Real estate 28,070 50 3 11 77 141 28,211 Commercial and industrial loans 69,060 630 54 137 670 1,491 70,551 Financial institutions 14,311 41 15 72 46 174 14,485 Governments and public institutions 969 37 4 0 0 41 1,010 Corporate & institutional 112,410 758 76 220 793 1,847 114,257 Total loans to third parties 279,186 994 212 301 1,426 2,933 282,119 1 Total loans to entities under common control 8,444 0 0 0 0 0 8,444 Total loans held at amortized cost 287,630 994 212 301 1,426 2,933 290,563 1 1 Excludes accrued interest on loans held at amortized cost of CHF 363 million and CHF 334 million as of the end of 6M21 and 2020, respectively. |
Restructured financing receivables held at amortized cost | Restructured financing receivables held at amortized cost 6M21 6M20 Recorded Recorded Recorded Recorded CHF million, except where indicated Loans collateralized by securities 0 0 0 2 116 116 Real estate 1 2 2 0 0 0 Commercial and industrial loans 14 390 382 7 32 15 Financial institutions 1 44 44 0 0 0 Total loans 16 436 428 9 148 131 |
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 6M21 6M20 Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 3 156 0 0 Commercial and industrial loans 0 0 3 12 Total loans 3 156 3 12 |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Goodwill | Swiss International Credit 1 Gross amount of goodwill (CHF million) Balance at beginning of period 595 291 1,063 1,140 5,434 8,535 Foreign currency translation impact (5) (2) (11) (18) (20) (56) Balance at end of period 590 289 1,052 1,122 5,414 8,479 Accumulated impairment (CHF million) Balance at beginning of period 0 0 0 0 3,879 3,891 Balance at end of period 0 0 0 0 3,879 3,891 Net book value (CHF million) Net book value 590 289 1,052 1,122 1,535 4,588 6M21 Gross amount of goodwill (CHF million) Balance at beginning of period 575 284 1,021 1,068 5,357 8,317 Foreign currency translation impact 15 5 31 54 57 162 Balance at end of period 590 289 1,052 1,122 5,414 8,479 Accumulated impairment (CHF million) Balance at beginning of period 0 0 0 0 3,879 3,891 Balance at end of period 0 0 0 0 3,879 3,891 Net book value (CHF million) Net book value 590 289 1,052 1,122 1,535 4,588 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 | Swiss International 1 Gross amount of goodwill (CHF million) Balance at beginning of period 557 276 1,005 1,062 4,734 7,646 Foreign currency translation impact 15 6 34 54 37 146 Balance at end of period 572 282 1,039 1,116 4,771 7,792 Accumulated impairment (CHF million) Balance at beginning of period 0 0 0 0 3,879 3,891 Balance at end of period 0 0 0 0 3,879 3,891 Net book value (CHF million) Net book value 572 282 1,039 1,116 892 3,901 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, 2021 | |
Other assets and other liabilities | end of 2Q21 1Q21 4Q20 Other assets (CHF million) Cash collateral on derivative instruments 7,664 1 8,817 1 7,741 Cash collateral on non-derivative transactions 416 250 635 Derivative instruments used for hedging 457 295 131 Assets held-for-sale 8,169 13,193 7,077 of which loans 2 8,136 13,160 7,046 allowance for loans held-for-sale (51) (51) (48) of which real estate 3 31 27 27 of which long-lived assets 2 6 4 Premises, equipment and right-of-use assets 7,428 7,523 7,376 Assets held for separate accounts 107 107 102 Interest and fees receivable 4,155 4,838 4,255 Deferred tax assets 4,201 3,964 3,667 Prepaid expenses 693 688 448 of which cloud computing arrangement implementation costs 45 43 38 Failed purchases 1,793 1,595 1,451 Defined benefit pension and post-retirement plan assets 3,047 3,073 2,872 Other 4,041 4,559 3,882 Other assets 42,171 48,902 39,637 Other liabilities (CHF million) Cash collateral on derivative instruments 7,200 8,839 7,831 Cash collateral on non-derivative transactions 215 258 174 Derivative instruments used for hedging 12 39 45 Operating leases liabilities 2,652 2,740 2,759 Provisions 1,256 1,653 2,080 of which expected credit losses on off-balance sheet credit exposures 260 324 311 Restructuring liabilities 25 42 52 Liabilities held for separate accounts 107 107 102 Interest and fees payable 4,128 4,651 4,297 Current tax liabilities 622 569 555 Deferred tax liabilities 578 557 530 Failed sales 1,437 1,090 1,120 Defined benefit pension and post-retirement plan liabilities 414 425 410 Other 10,425 10,733 11,479 Other liabilities 29,071 31,703 31,434 1 As of the end of 1Q21, cash collateral on derivative instruments was net of an allowance for credit losses of CHF 4,394 million related to the failure of Archegos to meet its margin commitments; after the closeout of all derivatives including collateral in 2Q21, the remaining receivable balance and the related allowance for credit losses have been reclassified to brokerage receivables. 2 Included as of the end of 2Q21, 1Q21 and 4Q20 were CHF 363 million, CHF 471 million and CHF 262 million, respectively, in restricted loans, which represented collateral on secured borrowings. 3 As of the end of 2Q21, 1Q21 and 4Q20, real estate held-for-sale included foreclosed or repossessed real estate of CHF 8 million, CHF 8 million and CHF 8 million, respectively, of which CHF 8 million, CHF 8 million and CHF 8 million, respectively were related to residential real estate. |
Bank | |
Other assets and other liabilities | end of 6M21 2020 Other assets (CHF million) Cash collateral on derivative instruments 7,664 7,741 Cash collateral on non-derivative transactions 416 635 Derivative instruments used for hedging 457 131 Assets held-for-sale 8,169 7,077 of which loans 1 8,136 7,046 allowance for loans held-for-sale (51) (48) of which real estate 2 31 27 of which long-lived assets 2 4 Premises, equipment and right-of-use assets 6,263 6,213 Assets held for separate accounts 107 102 Interest and fees receivable 4,225 4,397 Deferred tax assets 4,155 3,630 Prepaid expenses 570 367 of which cloud computing arrangement implementation costs 39 32 Failed purchases 1,793 1,451 Defined benefit pension and post-retirement plan assets 910 975 Other 4,050 3,855 Other assets 38,779 36,574 Other liabilities (CHF million) Cash collateral on derivative instruments 7,209 7,831 Cash collateral on non-derivative transactions 215 174 Derivative instruments used for hedging 12 45 Operating leases liabilities 1,896 1,981 Provisions 1,244 2,067 of which expected credit losses on off-balance sheet credit exposures 260 311 Restructuring liabilities 25 49 Liabilities held for separate accounts 107 102 Interest and fees payable 4,068 4,397 Current tax liabilities 612 542 Deferred tax liabilities 164 157 Failed sales 1,437 1,120 Defined benefit pension and post-retirement plan liabilities 406 403 Other 10,540 11,472 Other liabilities 27,935 30,340 1 Included as of the end of 6M21 and 2020 were CHF 363 million and CHF 262 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 6M21 and 2020, real estate held-for-sale included foreclosed or repossessed real estate of CHF 8 million and CHF 8 million, respectively, of which CHF 8 million and CHF 8 million, respectively, were related to residential real estate. |
Long-term debt (Tables)
Long-term debt (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Long-term debt | Long-term debt end of 2Q21 1Q21 4Q20 Long-term debt (CHF million) Senior 143,874 141,689 133,056 Subordinated 25,034 27,196 26,285 Non-recourse liabilities from consolidated VIEs 1,319 1,568 1,746 Long-term debt 170,227 170,453 161,087 of which reported at fair value 69,436 72,312 70,976 of which structured notes 45,030 48,210 47,039 |
Schedule of Structured notes | Structured notes by product end of 2Q21 1Q21 4Q20 Structured notes by product (CHF million) Equity 29,473 32,230 29,907 Fixed income 12,465 12,705 13,882 Credit 2,700 2,882 2,881 Other 392 393 369 Total structured notes 45,030 48,210 47,039 |
Bank | |
Long-term debt | Long-term debt end of 6M21 2020 Long-term debt (CHF million) Senior 96,726 94,768 Subordinated 66,247 63,765 Non-recourse liabilities from consolidated VIEs 1,319 1,746 Long-term debt 164,292 160,279 of which reported at fair value 68,486 70,243 of which structured notes 45,030 47,039 |
Schedule of Structured notes | Structured notes by product end of 6M21 2020 Structured notes by product (CHF million) Equity 29,473 29,907 Fixed income 12,465 13,882 Credit 2,700 2,881 Other 392 369 Total structured notes 45,030 47,039 |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Accumulated other comprehensive income | Accumulated other comprehensive income/(loss) 1 Gains/ 2Q21 (CHF million) Balance at beginning of period 103 (15,534) 13 (3,662) 432 (2,019) (20,667) Increase/(decrease) (19) (471) 0 (89) 0 (514) (1,093) Reclassification adjustments, included in net income/(loss) (22) 0 0 78 (24) 31 63 Total increase/(decrease) (41) (471) 0 (11) (24) (483) (1,030) Balance at end of period 62 (16,005) 13 (3,673) 408 (2,502) (21,697) 1Q21 (CHF million) Balance at beginning of period 206 (17,528) 13 (3,727) 456 (2,570) (23,150) Increase/(decrease) (91) 1,994 0 (3) 0 505 2,405 Reclassification adjustments, included in net income/(loss) (12) 0 0 68 (24) 46 78 Total increase/(decrease) (103) 1,994 0 65 (24) 551 2,483 Balance at end of period 103 (15,534) 13 (3,662) 432 (2,019) (20,667) 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) 6M21 (CHF million) Balance at beginning of period 206 (17,528) 13 (3,727) 456 (2,570) (23,150) Increase/(decrease) (110) 1,523 0 (92) 0 (9) 1,312 Reclassification adjustments, included in net income/(loss) (34) 0 0 146 (48) 77 141 Total increase/(decrease) (144) 1,523 0 54 (48) 68 1,453 Balance at end of period 62 (16,005) 13 (3,673) 408 (2,502) (21,697) 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) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 2Q21, 1Q21, 2Q20, 6M21 and 6M20. |
Details on significant reclassification adjustments | Details of significant reclassification adjustments in 2Q21 1Q21 2Q20 6M21 6M20 Reclassification adjustments, included in net income/(loss) (CHF million) Actuarial gains/(losses) Amortization of recognized actuarial losses 1 95 83 89 178 179 Tax expense/(benefit) (17) (15) (16) (32) (33) Net of tax 78 68 73 146 146 Net prior service credit/(cost) Amortization of recognized prior service credit/(cost) 1 (29) (30) (41) (59) (83) Tax expense 5 6 7 11 15 Net of tax (24) (24) (34) (48) (68) 1 These components are included in the computation of total benefit costs. Refer to "Note 27 – Pension and other post-retirement benefits" for further information. |
Additional share information | Additional share information 2Q21 1Q21 2Q20 6M21 6M20 Common shares issued Balance at beginning of period 2,447,747,720 2,447,747,720 2,556,011,720 2,447,747,720 2,556,011,720 Issuance of common shares 203,000,000 0 0 203,000,000 0 Balance at end of period 2,650,747,720 2,447,747,720 2,556,011,720 2,650,747,720 2,556,011,720 Treasury shares Balance at beginning of period (83,737,482) (41,602,841) (156,996,084) (41,602,841) (119,761,811) Sale of treasury shares 510,392,920 552,731,383 170,488,741 1,063,124,303 409,965,327 Repurchase of treasury shares (514,715,462) (599,319,336) (172,555,047) (1,114,034,798) (452,618,437) Issuance of common shares relating to mandatory convertible notes (203,000,000) 0 0 (203,000,000) 0 Conversion of mandatory convertible notes 106,805 0 0 106,805 0 Share-based compensation 51,473,883 4,453,312 44,650,431 55,927,195 48,002,962 Balance at end of period (239,479,336) (83,737,482) (114,411,959) (239,479,336) (114,411,959) Common shares outstanding Balance at end of period 2,411,268,384 1 2,364,010,238 2 2,441,599,761 2 2,411,268,384 1 2,441,599,761 2 1 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 450,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments. 2 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/ 6M21 (CHF million) Balance at beginning of period 205 (17,517) 13 (460) (11) (2,469) (20,239) Increase/(decrease) (109) 1,473 0 (85) (1) (5) 1,273 Reclassification adjustments, included in net income/(loss) (34) 0 0 0 1 77 44 Total increase/(decrease) (143) 1,473 0 (85) 0 72 1,317 Balance at end of period 62 (16,044) 13 (545) (11) (2,397) (18,922) 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) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 6M21 and 6M20. |
Details on significant reclassification adjustments | Details on significant reclassification adjustments in 6M21 6M20 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 0 17 Actuarial gains/(losses) Amortization of recognized actuarial losses 1 (2) 7 Tax expense/(benefit) 2 0 Net of tax 0 7 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. |
Offsetting of financial asset_2
Offsetting of financial assets and financial liabilities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Offsetting of derivatives | Offsetting of derivatives 2Q21 4Q20 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 5.1 3.7 6.1 4.6 OTC 52.1 48.6 68.2 65.7 Exchange-traded 0.1 0.1 0.5 0.6 Interest rate products 57.3 52.4 74.8 70.9 OTC-cleared 0.2 0.2 0.2 0.2 OTC 19.1 20.4 23.1 27.7 Foreign exchange products 19.3 20.6 23.3 27.9 OTC 9.3 14.1 10.7 15.1 Exchange-traded 23.2 22.1 19.9 20.4 Equity/index-related products 32.5 36.2 30.6 35.5 OTC-cleared 1.1 1.2 0.7 0.7 OTC 3.7 4.7 3.9 4.9 Credit derivatives 4.8 5.9 4.6 5.6 OTC 1.5 0.9 1.6 0.7 Exchange-traded 0.0 0.0 0.1 0.1 Other products 1 1.5 0.9 1.7 0.8 OTC-cleared 6.4 5.1 7.0 5.5 OTC 85.7 88.7 107.5 114.1 Exchange-traded 23.3 22.2 20.5 21.1 Total gross derivatives subject to enforceable master netting agreements 115.4 116.0 135.0 140.7 Offsetting (CHF billion) OTC-cleared (5.7) (5.0) (6.2) (5.4) OTC (74.6) (82.4) (94.4) (104.3) Exchange-traded (21.4) (21.5) (20.0) (20.3) Offsetting (101.7) (108.9) (120.6) (130.0) of which counterparty netting (87.7) (87.7) (103.2) (103.2) of which cash collateral netting (14.0) (21.2) (17.4) (26.8) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.7 0.1 0.8 0.1 OTC 11.1 6.3 13.1 9.8 Exchange-traded 1.9 0.7 0.5 0.8 Total net derivatives subject to enforceable master netting agreements 13.7 7.1 14.4 10.7 Total derivatives not subject to enforceable master netting agreements 2 10.8 5.2 11.2 6.8 Total net derivatives presented in the consolidated balance sheets 24.5 12.3 25.6 17.5 of which recorded in trading assets and trading liabilities 24.1 12.3 25.5 17.5 of which recorded in other assets and other liabilities 0.4 0.0 0.1 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 2Q21 4Q20 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 74.9 (14.1) 60.8 55.8 (7.5) 48.3 Securities borrowing transactions 9.5 (0.5) 9.0 11.9 (0.4) 11.5 Total subject to enforceable master netting agreements 84.4 (14.6) 69.8 67.7 (7.9) 59.8 Total not subject to enforceable master netting agreements 1 24.8 – 24.8 19.3 – 19.3 Total 109.2 (14.6) 94.6 2 87.0 (7.9) 79.1 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 69,465 million and CHF 57,994 million of the total net amount as of the end of 2Q21 and 4Q20, 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 2Q21 4Q20 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 29.5 (14.6) 14.9 26.0 (7.9) 18.1 Securities lending transactions 3.0 0.0 3.0 3.5 0.0 3.5 Obligation to return securities received as collateral, at fair value 37.7 0.0 37.7 49.9 0.0 49.9 Total subject to enforceable master netting agreements 70.2 (14.6) 55.6 79.4 (7.9) 71.5 Total not subject to enforceable master netting agreements 1 4.0 – 4.0 3.1 – 3.1 Total 74.2 (14.6) 59.6 82.5 (7.9) 74.6 of which securities sold under repurchase agreements and securities lending transactions 35.5 (14.6) 20.9 2 31.7 (7.9) 23.8 2 of which obligation to return securities received as collateral, at fair value 38.7 0.0 38.7 50.8 0.0 50.8 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 10,983 million and CHF 13,594 million of the total net amount as of the end of 2Q21 and 4Q20, respectively, are reported at fair value. |
Amounts not offset in the consolidated balance sheets | Amounts not offset in the consolidated balance sheets 2Q21 4Q20 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 13.7 5.1 0.0 8.6 14.4 5.5 0.1 8.8 Securities purchased under resale agreements 60.8 60.8 0.0 0.0 48.3 48.3 0.0 0.0 Securities borrowing transactions 9.0 8.8 0.0 0.2 11.5 11.1 0.0 0.4 Total financial assets subject to enforceable master netting agreements 83.5 74.7 0.0 8.8 74.2 64.9 0.1 9.2 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 7.1 1.4 0.0 5.7 10.7 2.2 0.0 8.5 Securities sold under repurchase agreements 14.9 14.9 0.0 0.0 18.1 18.1 0.0 0.0 Securities lending transactions 3.0 2.6 0.0 0.4 3.5 3.2 0.0 0.3 Obligation to return securities received as collateral, at fair value 37.7 32.4 0.0 5.3 49.9 43.4 0.0 6.5 Total financial liabilities subject to enforceable master netting agreements 62.7 51.3 0.0 11.4 82.2 66.9 0.0 15.3 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 6M21 2020 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 5.1 3.7 6.1 4.6 OTC 52.2 48.6 68.2 65.7 Exchange-traded 0.1 0.1 0.5 0.6 Interest rate products 57.4 52.4 74.8 70.9 OTC-cleared 0.2 0.2 0.2 0.2 OTC 19.1 20.4 23.1 27.7 Foreign exchange products 19.3 20.6 23.3 27.9 OTC 9.3 14.1 10.7 15.1 Exchange-traded 23.2 22.1 19.9 20.4 Equity/index-related products 32.5 36.2 30.6 35.5 OTC-cleared 1.1 1.2 0.7 0.7 OTC 3.7 4.7 3.9 4.9 Credit derivatives 4.8 5.9 4.6 5.6 OTC 1.5 0.9 1.6 0.8 Exchange-traded 0.0 0.0 0.1 0.1 Other products 1 1.5 0.9 1.7 0.9 OTC-cleared 6.4 5.1 7.0 5.5 OTC 85.8 88.7 107.5 114.2 Exchange-traded 23.3 22.2 20.5 21.1 Total gross derivatives subject to enforceable master netting agreements 115.5 116.0 135.0 140.8 Offsetting (CHF billion) OTC-cleared (5.7) (5.0) (6.2) (5.4) OTC (74.7) (82.4) (94.4) (104.4) Exchange-traded (21.4) (21.5) (20.0) (20.3) Offsetting (101.8) (108.9) (120.6) (130.1) of which counterparty netting (87.8) (87.8) (103.2) (103.2) of which cash collateral netting (14.0) (21.1) (17.4) (26.9) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.7 0.1 0.8 0.1 OTC 11.1 6.3 13.1 9.8 Exchange-traded 1.9 0.7 0.5 0.8 Total net derivatives subject to enforceable master netting agreements 13.7 7.1 14.4 10.7 Total derivatives not subject to enforceable master netting agreements 2 10.8 5.2 11.2 6.8 Total net derivatives presented in the consolidated balance sheets 24.5 12.3 25.6 17.5 of which recorded in trading assets and trading liabilities 24.1 12.3 25.5 17.5 of which recorded in other assets and other liabilities 0.4 0.0 0.1 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 6M21 2020 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 74.9 (14.1) 60.8 55.8 (7.5) 48.3 Securities borrowing transactions 9.5 (0.5) 9.0 11.9 (0.4) 11.5 Total subject to enforceable master netting agreements 84.4 (14.6) 69.8 67.7 (7.9) 59.8 Total not subject to enforceable master netting agreements 1 24.8 – 24.8 19.3 – 19.3 Total 109.2 (14.6) 94.6 2 87.0 (7.9) 79.1 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 69,465 million and CHF 57,994 million of the total net amount as of the end of 6M21 and 2020, 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 6M21 2020 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 29.6 (14.6) 15.0 26.1 (7.9) 18.2 Securities lending transactions 3.0 0.0 3.0 3.5 0.0 3.5 Obligation to return securities received as collateral, at fair value 37.7 0.0 37.7 49.9 0.0 49.9 Total subject to enforceable master netting agreements 70.3 (14.6) 55.7 79.5 (7.9) 71.6 Total not subject to enforceable master netting agreements 1 4.0 – 4.0 3.1 – 3.1 Total 74.3 (14.6) 59.7 82.6 (7.9) 74.7 of which securities sold under repurchase agreements and securities lending transactions 35.6 (14.6) 21.0 2 31.8 (7.9) 23.9 2 of which obligation to return securities received as collateral, at fair value 38.7 0.0 38.7 50.8 0.0 50.8 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 11,080 million and CHF 13,688 million of the total net amount as of the end of 6M21 and 2020, respectively, are reported at fair value. |
Amounts not offset in the consolidated balance sheets | Amounts not offset in the consolidated balance sheets 6M21 2020 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 13.7 5.1 0.0 8.6 14.4 5.5 0.1 8.8 Securities purchased under resale agreements 60.8 60.8 0.0 0.0 48.3 48.3 0.0 0.0 Securities borrowing transactions 9.0 8.8 0.0 0.2 11.5 11.1 0.0 0.4 Total financial assets subject to enforceable master netting agreements 83.5 74.7 0.0 8.8 74.2 64.9 0.1 9.2 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 7.1 1.4 0.0 5.7 10.7 2.2 0.0 8.5 Securities sold under repurchase agreements 15.0 15.0 0.0 0.0 18.2 18.2 0.0 0.0 Securities lending transactions 3.0 2.6 0.0 0.4 3.5 3.2 0.0 0.3 Obligation to return securities received as collateral, at fair value 37.7 32.4 0.0 5.3 49.9 43.4 0.0 6.5 Total financial liabilities subject to enforceable master netting agreements 62.8 51.4 0.0 11.4 82.3 67.0 0.0 15.3 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, 2021 | |
Reconciliation of taxes computed at the Swiss statutory rate | Tax expense reconciliation in 2Q21 Income tax expense computed at the Swiss statutory tax rate of 18.5% (CHF million) 150 Increase/(decrease) in income taxes resulting from Foreign tax rate differential (45) Changes in tax law and rates (31) Other non-deductible expenses 140 Changes in deferred tax valuation allowance 292 Lower taxed income (40) Income taxable to noncontrolling interests 15 (Windfall tax benefits)/shortfall tax charges on share-based compensation 31 Other 54 Income tax expense 566 |
Effective tax rate | Effective tax rate in 2Q21 1Q21 2Q20 6M21 6M20 Effective tax rate (%) 69.6 69.5 25.2 71.4 10.2 |
Net deferred tax assets | Net deferred tax assets end of 2Q21 1Q21 Net deferred tax assets (CHF million) Deferred tax assets 4,201 3,964 of which net operating losses 1,380 1,011 of which deductible temporary differences 2,821 2,953 Deferred tax liabilities (578) (557) Net deferred tax assets 3,623 3,407 |
Bank | |
Reconciliation of taxes computed at the Swiss statutory rate | Tax expense reconciliation in 6M21 Income tax expense computed at the Swiss statutory tax rate of 18.5% (CHF million) 3 Increase/(decrease) in income taxes resulting from Foreign tax rate differential (50) Changes in tax law and rates (27) Other non-deductible expenses 49 Changes in deferred tax valuation allowance 49 Lower taxed income (7) Income taxable to noncontrolling interests 2 (Windfall tax benefits)/shortfall tax charges on share-based compensation 29 Other (42) Income tax expense 6 |
Effective tax rate | Effective tax rate in 6M21 6M20 Effective tax rate (%) 40.0 9.5 |
Net deferred tax assets | Net deferred tax assets end of 6M21 2020 Net deferred tax assets (CHF million) Deferred tax assets 4,155 3,630 of which net operating losses 1,371 1,064 of which deductible temporary differences 2,784 2,566 Deferred tax liabilities (164) (157) Net deferred tax assets 3,991 3,473 |
Employee deferred compensation
Employee deferred compensation (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Share-based compensation disclosures | |
Deferred compensation expense | Deferred compensation expense in 2Q21 1Q21 2Q20 6M21 6M20 Deferred compensation expense (CHF million) Share awards 142 134 144 276 299 Performance share awards 111 109 120 220 233 Contingent Capital Awards 83 61 100 144 86 Deferred cash awards 102 49 138 151 148 Retention awards 26 13 10 39 19 Total deferred compensation expense 464 366 512 830 785 |
Additional information | Estimated unrecognized deferred compensation end of 2Q21 Estimated unrecognized compensation expense (CHF million) Share awards 670 Performance share awards 392 Contingent Capital Awards 275 Deferred cash awards 333 Retention Awards 307 Total 1,977 Aggregate remaining weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 |
Share-based award activities | Share-based award activity 2Q21 6M21 Performance Performance Share-based award activities Balance at beginning of period 175.1 126.3 126.3 91.7 Granted 24.1 0.0 78.1 37.8 Settled (45.7) (30.1) (50.4) (33.0) Forfeited (2.4) (0.7) (2.9) (1.0) Balance at end of period 151.1 95.5 151.1 95.5 of which vested 12.8 13.9 12.8 13.9 of which unvested 138.3 81.6 138.3 81.6 |
Bank | |
Share-based compensation disclosures | |
Deferred compensation expense | Deferred compensation expense in 6M21 6M20 Deferred compensation expense (CHF million) Share awards 266 289 Performance share awards 213 220 Contingent Capital Awards 140 83 Deferred cash awards 169 143 Retention awards 39 19 Total deferred compensation expense 827 754 |
Additional information | Estimated unrecognized deferred compensation end of 6M21 Estimated unrecognized compensation expense (CHF million) Share awards 652 Performance share awards 378 Contingent Capital Awards 265 Deferred cash awards 331 Retention awards 307 Total 1,933 Aggregate remaining weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 |
Share-based award activities | Share-based award activity 6M21 Performance Share-based award activities Balance at beginning of period 115.2 88.0 Granted 76.5 36.6 Settled (47.7) (31.8) Forfeited (2.7) (1.0) Balance at end of period 141.3 91.8 of which vested 11.3 13.0 of which unvested 130.0 78.8 |
Pension and other post-retire_2
Pension and other post-retirement benefits (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Components of total pension costs | Components of net periodic benefit costs in 2Q21 1Q21 2Q20 6M21 6M20 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 60 60 55 120 109 Interest costs on benefit obligation 15 15 23 30 47 Expected return on plan assets (120) (123) (109) (243) (219) Amortization of recognized prior service cost/(credit) (31) (29) (41) (60) (83) Amortization of recognized actuarial losses 93 93 87 186 174 Settlement losses/(gains) 2 (10) 2 (8) 5 Curtailment losses/(gains) 2 (1) 0 1 0 Special termination benefits 3 10 0 13 3 Net periodic benefit costs 24 15 17 39 36 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 or, except for 2Q20 and 6M20, in restructuring expenses. |
Bank | |
Components of total pension costs | Components of net periodic benefit costs in 6M21 6M20 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 7 8 Interest costs on benefit obligation 25 37 Expected return on plan assets (34) (44) Amortization of recognized prior service cost/(credit) 1 1 Amortization of recognized actuarial losses 8 7 Settlement losses/(gains) (10) 0 Net periodic benefit costs (3) 9 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, 2021 | |
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 4,305.9 1.4 1.3 0.0 0.0 0.0 Swaps 9,045.8 43.3 39.1 140.6 0.7 0.1 Options bought and sold (OTC) 884.8 13.0 12.8 0.0 0.0 0.0 Futures 341.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 140.1 0.1 0.2 0.0 0.0 0.0 Interest rate products 14,717.9 57.8 53.4 140.6 0.7 0.1 Forwards 996.1 7.8 6.6 21.0 0.2 0.0 Swaps 355.3 9.6 11.8 0.0 0.0 0.2 Options bought and sold (OTC) 240.3 2.4 2.7 0.0 0.0 0.0 Futures 17.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.6 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,609.8 19.8 21.1 21.0 0.2 0.2 Forwards 1.0 0.0 0.3 0.0 0.0 0.0 Swaps 121.3 1.9 4.7 0.0 0.0 0.0 Options bought and sold (OTC) 258.8 15.7 11.8 0.0 0.0 0.0 Futures 41.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 608.3 23.3 22.2 0.0 0.0 0.0 Equity/index-related products 1,031.0 40.9 39.0 0.0 0.0 0.0 Credit derivatives 2 594.3 5.1 6.3 0.0 0.0 0.0 Forwards 16.0 0.2 0.2 0.0 0.0 0.0 Swaps 11.4 1.1 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 18.4 0.3 0.2 0.0 0.0 0.0 Futures 12.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 11.8 0.1 0.1 0.0 0.0 0.0 Other products 3 70.5 1.7 1.1 0.0 0.0 0.0 Total derivative instruments 18,023.5 125.3 120.9 161.6 0.9 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 18,185.1 billion, CHF 126.2 billion and CHF 121.2 billion, respectively, as of June 30, 2021. 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 5,221.5 2.7 2.8 0.0 0.0 0.0 Swaps 8,087.8 53.5 50.2 126.1 0.9 0.1 Options bought and sold (OTC) 968.6 18.2 18.0 0.0 0.0 0.0 Futures 296.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 116.1 0.5 0.6 0.0 0.0 0.0 Interest rate products 14,690.6 74.9 71.6 126.1 0.9 0.1 Forwards 928.4 10.1 11.8 13.9 0.1 0.1 Swaps 345.8 10.9 13.4 0.0 0.0 0.0 Options bought and sold (OTC) 236.3 3.4 3.7 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) 1.0 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,520.3 24.4 28.9 13.9 0.1 0.1 Forwards 1.0 0.0 0.3 0.0 0.0 0.0 Swaps 167.6 4.3 8.8 0.0 0.0 0.0 Options bought and sold (OTC) 218.3 14.9 10.0 0.0 0.0 0.0 Futures 23.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 454.0 20.0 20.7 0.0 0.0 0.0 Equity/index-related products 864.4 39.2 39.8 0.0 0.0 0.0 Credit derivatives 2 467.8 4.9 6.0 0.0 0.0 0.0 Forwards 12.2 0.3 0.2 0.0 0.0 0.0 Swaps 9.8 1.1 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 14.8 0.3 0.2 0.0 0.0 0.0 Futures 4.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 11.6 0.1 0.1 0.0 0.0 0.0 Other products 3 52.6 1.8 1.0 0.0 0.0 0.0 Total derivative instruments 17,595.7 145.2 147.3 140.0 1.0 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 17,735.7 billion, CHF 146.2 billion and CHF 147.5 billion, respectively, as of December 31, 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 hedges | Gains or (losses) on fair value hedges in 2Q21 1Q21 2Q20 6M21 6M20 Interest rate products (CHF million) Hedged items 1 (288) 1,156 (205) 868 (2,374) Derivatives designated as hedging instruments 1 264 (1,096) 212 (832) 2,226 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 2Q21 4Q20 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets (CHF billion) Investment securities 0.6 0.0 0.0 0.4 0.0 0.0 Net loans 21.6 (0.1) 0.4 20.5 0.2 0.5 Liabilities (CHF billion) Long-term debt 75.5 0.8 0.7 65.8 1.9 0.8 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 2Q21 1Q21 2Q20 6M21 6M20 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives (23) (96) 21 (119) 288 Gains/(losses) reclassified from AOCI into interest and dividend income 7 3 0 10 (42) Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives 0 4 (5) 4 (84) Trading revenues 0 0 0 0 (30) Total other operating expenses 15 10 (5) 25 (11) Gains/(losses) reclassified from AOCI into income 15 10 (5) 25 (41) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 0 0 0 0 1 1 1 Related to the forward points of a foreign currency forward. |
Net investment hedges | Net investment hedges in 2Q21 1Q21 2Q20 6M21 6M20 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI 7 (262) (38) (255) 481 Gains/(losses) reclassified from the cumulative translation adjustments section of AOCI into other revenues 0 0 9 0 9 |
Credit protection sold/purchased | Credit protection sold/purchased 2Q21 4Q20 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (55.4) 52.3 (3.1) 11.7 0.5 (52.5) 47.8 (4.7) 13.0 0.5 Non-investment grade (32.3) 30.2 (2.1) 11.7 0.6 (28.5) 26.5 (2.0) 11.8 0.4 Total single-name instruments (87.7) 82.5 (5.2) 23.4 1.1 (81.0) 74.3 (6.7) 24.8 0.9 of which sovereign (13.1) 12.0 (1.1) 5.3 0.0 (12.5) 11.6 (0.9) 5.3 0.0 of which non-sovereign (74.6) 70.5 (4.1) 18.1 1.1 (68.5) 62.7 (5.8) 19.5 0.9 Multi-name instruments (CHF billion) Investment grade 2 (141.6) 136.8 (4.8) 28.8 (0.4) (99.5) 95.2 (4.3) 23.1 (0.7) Non-investment grade (34.1) 31.9 (2.2) 13.2 3 0.3 (24.3) 19.9 (4.4) 11.3 3 0.2 Total multi-name instruments (175.7) 168.7 (7.0) 42.0 (0.1) (123.8) 115.1 (8.7) 34.4 (0.5) of which non-sovereign (175.7) 168.7 (7.0) 42.0 (0.1) (123.8) 115.1 (8.7) 34.4 (0.5) Total instruments (CHF billion) Investment grade 2 (197.0) 189.1 (7.9) 40.5 0.1 (152.0) 143.0 (9.0) 36.1 (0.2) Non-investment grade (66.4) 62.1 (4.3) 24.9 0.9 (52.8) 46.4 (6.4) 23.1 0.6 Total instruments (263.4) 251.2 (12.2) 65.4 1.0 (204.8) 189.4 (15.4) 59.2 0.4 of which sovereign (13.1) 12.0 (1.1) 5.3 0.0 (12.5) 11.6 (0.9) 5.3 0.0 of which non-sovereign (250.3) 239.2 (11.1) 60.1 1.0 (192.3) 177.8 (14.5) 53.9 0.4 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 2Q21 4Q20 Special Special Contingent credit risk (CHF billion) Current net exposure 2.4 0.0 0.4 2.8 3.0 0.0 0.4 3.4 Collateral posted 2.1 0.0 – 2.1 2.4 0.0 – 2.4 Impact of a three-notch downgrade event 0.5 0.0 0.1 0.6 0.5 0.0 0.2 0.7 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 2Q21 4Q20 Credit derivatives (CHF billion) Credit protection sold 263.4 204.8 Credit protection purchased 251.2 189.4 Other protection purchased 65.4 59.2 Other instruments 1 14.3 14.4 Total credit derivatives 594.3 467.8 1 Consists of total return swaps and other derivative instruments. |
Maturity of credit protection sold | Maturity of credit protection sold Maturity Maturity Maturity 2Q21 (CHF billion) Single-name instruments 13.7 69.9 4.1 87.7 Multi-name instruments 40.9 121.9 12.9 175.7 Total instruments 54.6 191.8 17.0 263.4 4Q20 (CHF billion) Single-name instruments 14.0 62.7 4.3 81.0 Multi-name instruments 29.6 82.6 11.6 123.8 Total instruments 43.6 145.3 15.9 204.8 |
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 4,305.9 1.4 1.3 0.0 0.0 0.0 Swaps 9,053.7 43.4 39.1 137.1 0.7 0.1 Options bought and sold (OTC) 884.8 13.0 12.8 0.0 0.0 0.0 Futures 341.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 140.1 0.1 0.2 0.0 0.0 0.0 Interest rate products 14,725.8 57.9 53.4 137.1 0.7 0.1 Forwards 996.1 7.8 6.6 21.0 0.2 0.2 Swaps 355.3 9.6 11.8 0.0 0.0 0.0 Options bought and sold (OTC) 240.3 2.4 2.7 0.0 0.0 0.0 Futures 17.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.6 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,609.8 19.8 21.1 21.0 0.2 0.2 Forwards 1.0 0.0 0.3 0.0 0.0 0.0 Swaps 121.3 1.9 4.7 0.0 0.0 0.0 Options bought and sold (OTC) 258.8 15.7 11.8 0.0 0.0 0.0 Futures 41.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 608.3 23.3 22.2 0.0 0.0 0.0 Equity/index-related products 1,031.0 40.9 39.0 0.0 0.0 0.0 Credit derivatives 2 594.3 5.1 6.3 0.0 0.0 0.0 Forwards 16.0 0.2 0.2 0.0 0.0 0.0 Swaps 11.4 1.1 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 18.4 0.3 0.2 0.0 0.0 0.0 Futures 12.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 11.8 0.1 0.1 0.0 0.0 0.0 Other products 3 70.5 1.7 1.1 0.0 0.0 0.0 Total derivative instruments 18,031.4 125.4 120.9 158.1 0.9 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 18,189.5 billion, CHF 126.3 billion and CHF 121.2 billion, respectively, as of June 30, 2021. 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 5,221.5 2.7 2.8 0.0 0.0 0.0 Swaps 8,088.7 53.5 50.3 126.1 0.9 0.1 Options bought and sold (OTC) 968.6 18.2 18.0 0.0 0.0 0.0 Futures 296.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 116.1 0.5 0.6 0.0 0.0 0.0 Interest rate products 14,691.5 74.9 71.7 126.1 0.9 0.1 Forwards 928.4 10.1 11.8 13.9 0.1 0.1 Swaps 345.8 10.9 13.4 0.0 0.0 0.0 Options bought and sold (OTC) 236.3 3.4 3.7 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) 1.0 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,520.3 24.4 28.9 13.9 0.1 0.1 Forwards 1.0 0.0 0.3 0.0 0.0 0.0 Swaps 167.6 4.3 8.8 0.0 0.0 0.0 Options bought and sold (OTC) 218.3 14.9 10.0 0.0 0.0 0.0 Futures 23.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 454.0 20.0 20.7 0.0 0.0 0.0 Equity/index-related products 864.4 39.2 39.8 0.0 0.0 0.0 Credit derivatives 2 467.8 4.9 6.0 0.0 0.0 0.0 Forwards 12.2 0.3 0.2 0.0 0.0 0.0 Swaps 9.8 1.1 0.5 0.0 0.0 0.0 Options bought and sold (OTC) 14.8 0.3 0.2 0.0 0.0 0.0 Futures 4.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 11.6 0.1 0.1 0.0 0.0 0.0 Other products 3 52.6 1.8 1.0 0.0 0.0 0.0 Total derivative instruments 17,596.6 145.2 147.4 140.0 1.0 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 17,736.6 billion, CHF 146.2 billion and CHF 147.6 billion, respectively, as of December 31, 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 hedges | Gains or losses on fair value hedges in 6M21 6M20 Interest rate products (CHF million) Hedged items 1 776 (2,374) Derivatives designated as hedging instruments 1 (740) 2,226 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 6M21 2020 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets (CHF billion) Investment securities 0.6 0.0 0.0 0.4 0.0 0.0 Net loans 21.6 (0.1) 0.4 20.5 0.2 0.5 Liabilities (CHF billion) Long-term debt 72.1 0.9 0.7 65.8 1.9 0.8 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 6M21 6M20 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives (119) 288 Gains/(losses) reclassified from AOCI into interest and dividend income 10 (42) Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives 4 (84) Trading revenues 0 (30) Total other operating expenses 25 (11) Gains/(losses) reclassified from AOCI into income 25 (41) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 1 0 1 1 Related to the forward points of a foreign currency forward. |
Net investment hedges | Net investment hedges in 6M21 6M20 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI (248) 476 Gains/(losses) reclassified from the cumulative translation adjustments section of AOCI into other revenues 0 9 |
Credit protection sold/purchased | Credit protection sold/purchased 6M21 2020 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (55.4) 52.3 (3.1) 11.7 0.5 (52.5) 47.8 (4.7) 13.0 0.5 Non-investment grade (32.3) 30.2 (2.1) 11.7 0.6 (28.5) 26.5 (2.0) 11.8 0.4 Total single-name instruments (87.7) 82.5 (5.2) 23.4 1.1 (81.0) 74.3 (6.7) 24.8 0.9 of which sovereign (13.1) 12.0 (1.1) 5.3 0.0 (12.5) 11.6 (0.9) 5.3 0.0 of which non-sovereign (74.6) 70.5 (4.1) 18.1 1.1 (68.5) 62.7 (5.8) 19.5 0.9 Multi-name instruments (CHF billion) Investment grade 2 (141.6) 136.8 (4.8) 28.8 (0.4) (99.5) 95.2 (4.3) 23.1 (0.7) Non-investment grade (34.1) 31.9 (2.2) 13.2 3 0.3 (24.3) 19.9 (4.4) 11.3 3 0.2 Total multi-name instruments (175.7) 168.7 (7.0) 42.0 (0.1) (123.8) 115.1 (8.7) 34.4 (0.5) of which non-sovereign (175.7) 168.7 (7.0) 42.0 (0.1) (123.8) 115.1 (8.7) 34.4 (0.5) Total instruments (CHF billion) Investment grade 2 (197.0) 189.1 (7.9) 40.5 0.1 (152.0) 143.0 (9.0) 36.1 (0.2) Non-investment grade (66.4) 62.1 (4.3) 24.9 0.9 (52.8) 46.4 (6.4) 23.1 0.6 Total instruments (263.4) 251.2 (12.2) 65.4 1.0 (204.8) 189.4 (15.4) 59.2 0.4 of which sovereign (13.1) 12.0 (1.1) 5.3 0.0 (12.5) 11.6 (0.9) 5.3 0.0 of which non-sovereign (250.3) 239.2 (11.1) 60.1 1.0 (192.3) 177.8 (14.5) 53.9 0.4 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 6M21 2020 Special Special Contingent credit risk (CHF billion) Current net exposure 2.4 0.0 0.4 2.8 3.0 0.0 0.4 3.4 Collateral posted 2.1 0.0 – 2.1 2.4 0.0 – 2.4 Impact of a three-notch downgrade event 0.5 0.0 0.1 0.6 0.5 0.0 0.2 0.7 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 6M21 2020 Credit derivatives (CHF billion) Credit protection sold 263.4 204.8 Credit protection purchased 251.2 189.4 Other protection purchased 65.4 59.2 Other instruments 1 14.3 14.4 Total credit derivatives 594.3 467.8 1 Consists of total return swaps and other derivative instruments. |
Maturity of credit protection sold | Maturity of credit protection sold Maturity Maturity Maturity 6M21 (CHF billion) Single-name instruments 13.7 69.9 4.1 87.7 Multi-name instruments 40.9 121.9 12.9 175.7 Total instruments 54.6 191.8 17.0 263.4 2020 (CHF billion) Single-name instruments 14.0 62.7 4.3 81.0 Multi-name instruments 29.6 82.6 11.6 123.8 Total instruments 43.6 145.3 15.9 204.8 |
Guarantees and commitments (Tab
Guarantees and commitments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Guarantees | Guarantees Maturity Maturity Total Total 1 2Q21 (CHF million) Credit guarantees and similar instruments 2,411 1,921 4,332 4,268 20 2,195 Performance guarantees and similar instruments 4,484 2,868 7,352 6,223 38 2,706 Derivatives 2 11,082 4,968 16,050 16,050 403 – 3 Other guarantees 4,102 2,131 6,233 6,189 61 3,705 Total guarantees 22,079 11,888 33,967 32,730 522 8,606 4Q20 (CHF million) Credit guarantees and similar instruments 1,645 1,434 3,079 3,016 27 1,637 Performance guarantees and similar instruments 3,607 2,925 6,532 5,601 30 2,535 Derivatives 2 10,531 6,042 16,573 16,573 380 – 3 Other guarantees 3,555 2,588 6,143 6,130 85 3,725 Total guarantees 19,338 12,989 32,327 31,320 522 7,897 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 2Q21 4Q20 Maturity Maturity Total Total 1 Maturity Maturity Total Total 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 4,446 82 4,528 4,279 2,469 3,915 97 4,012 3,963 2,404 Irrevocable loan commitments 2 24,764 105,111 129,875 125,484 60,786 19,813 99,209 119,022 115,116 53,039 Forward reverse repurchase agreements 71 0 71 71 71 17 0 17 17 17 Other commitments 1,815 322 2,137 2,137 16 135 1,808 1,943 1,943 19 Total other commitments 31,096 105,515 136,611 131,971 63,342 23,880 101,114 124,994 121,039 55,479 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 144,958 million and CHF 130,877 million of unused credit limits as of the end of 2Q21 and 4Q20 respectively, which were revocable at the Group's sole discretion upon notice to the client. |
Bank | |
Guarantees | Guarantees Maturity Maturity 1 6M21 (CHF million) Credit guarantees and similar instruments 2,411 1,925 4,336 4,272 20 2,195 Performance guarantees and similar instruments 4,484 2,868 7,352 6,223 38 2,706 Derivatives 2 11,082 4,968 16,050 16,050 403 – 3 Other guarantees 4,102 2,131 6,233 6,189 61 3,705 Total guarantees 22,079 11,892 33,971 32,734 522 8,606 2020 (CHF million) Credit guarantees and similar instruments 1,645 1,438 3,083 3,020 27 1,637 Performance guarantees and similar instruments 3,607 2,925 6,532 5,601 30 2,535 Derivatives 2 10,531 6,042 16,573 16,573 380 – 3 Other guarantees 3,555 2,588 6,143 6,130 85 3,725 Total guarantees 19,338 12,993 32,331 31,324 522 7,897 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 6M21 2020 Maturity Maturity 1 Maturity Maturity 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 4,446 82 4,528 4,279 2,469 3,915 97 4,012 3,963 2,404 Irrevocable loan commitments 24,764 105,111 129,875 2 125,484 60,786 19,813 99,209 119,022 2 115,116 53,039 Forward reverse repurchase agreements 71 0 71 71 71 17 0 17 17 17 Other commitments 1,815 322 2,137 2,137 16 135 1,808 1,943 1,943 19 Total other commitments 31,096 105,515 136,611 131,971 63,342 23,880 101,114 124,994 121,039 55,479 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 145,045 million and CHF 130,965 million of unused credit limits as of the end of 6M21 and 2020, 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, 2021 | |
Securitizations | Securitizations in 6M21 6M20 Gains/(losses) and cash flows (CHF million) CMBS Net gain 1 0 30 Proceeds from transfer of assets 999 4,862 Cash received on interests that continue to be held 26 21 RMBS Net gain 1 62 22 Proceeds from transfer of assets 20,876 11,373 Purchases of previously transferred financial assets or its underlying collateral (1,072) 0 Servicing fees 1 1 Cash received on interests that continue to be held 430 457 Other asset-backed financings Net gain 1 47 61 Proceeds from transfer of assets 6,802 4,766 Purchases of previously transferred financial assets or its underlying collateral (699) (638) Fees 2 81 72 Cash received on interests that continue to be held 7 11 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 2Q21 4Q20 CHF million CMBS Principal amount outstanding 16,247 17,421 Total assets of SPE 23,079 24,455 RMBS Principal amount outstanding 58,318 47,324 Total assets of SPE 58,318 47,863 Other asset-backed financings Principal amount outstanding 26,307 24,968 Total assets of SPE 55,188 50,817 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 6M21 6M20 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 92 1,337 172 1,646 of which level 2 82 1,019 158 1,465 of which level 3 10 318 14 181 Weighted-average life, in years 7.4 5.0 8.1 3.6 Prepayment speed assumption (rate per annum), in % 1 – 2 3.0 – 32.8 – 2 1.0 – 38.2 Cash flow discount rate (rate per annum), in % 3 1.8 – 4.5 1.0 – 15.4 1.4 – 9.2 0.7 – 24.7 Expected credit losses (rate per annum), in % 4 0.9 – 3.9 0.1 – 13.7 4.0 – 8.6 3.3 – 22.9 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 2Q21 4Q20 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 232 2,382 319 296 1,851 350 of which non-investment grade 38 330 18 36 631 23 Weighted-average life, in years 6.0 4.0 5.5 5.6 4.0 4.8 Prepayment speed assumption (rate per annum), in % 3 – 5.2 – 30.0 – – 4.0 – 50.1 – Impact on fair value from 10% adverse change – (40.0) – – (43.7) – Impact on fair value from 20% adverse change – (78.0) – – (92.1) – Cash flow discount rate (rate per annum), in % 4 1.7 – 31.5 0.7 – 29.7 0.3 – 28.0 0.6 – 38.2 0.3 – 39.7 0.7 – 27.7 Impact on fair value from 10% adverse change (2.9) (32.5) (3.7) (4.9) (22.4) (4.2) Impact on fair value from 20% adverse change (5.6) (62.7) (7.3) (9.6) (43.5) (8.2) Expected credit losses (rate per annum), in % 5 0.9 – 13.0 0.2 – 28.6 0.3 – 28.0 0.4 – 14.7 0.6 – 39.6 0.7 – 26.8 Impact on fair value from 10% adverse change (1.8) (25.9) (3.5) (4.3) (20.2) (4.5) Impact on fair value from 20% adverse change (3.5) (50.2) (6.8) (8.5) (39.2) (8.9) 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 2Q21 4Q20 CHF million Other asset-backed financings Trading assets 721 496 Other assets 198 246 Liability to SPE, included in other liabilities (919) (742) |
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 2Q21 4Q20 CHF billion Government debt securities 15.8 12.1 Corporate debt securities 8.6 7.7 Asset-backed securities 4.3 6.0 Other 3.0 1.9 Securities sold under repurchase agreements 31.7 27.7 Government debt securities 0.2 0.4 Corporate debt securities 0.3 0.1 Equity securities 3.3 3.5 Other 0.0 0.1 Securities lending transactions 3.8 4.1 Government debt securities 4.7 5.8 Corporate debt securities 4.4 5.6 Equity securities 29.4 39.3 Other 0.2 0.1 Obligation to return securities received as collateral, at fair value 38.7 50.8 Total 74.2 82.6 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities No stated 1 Up to 2 31–90 More than 2Q21 (CHF billion) Securities sold under repurchase agreements 3.4 16.4 2.6 9.3 31.7 Securities lending transactions 3.8 0.0 0.0 0.0 3.8 Obligation to return securities received as collateral, at fair value 38.6 0.0 0.0 0.1 38.7 Total 45.8 16.4 2.6 9.4 74.2 4Q20 (CHF billion) Securities sold under repurchase agreements 5.8 11.8 5.9 4.2 27.7 Securities lending transactions 4.0 0.0 0.1 0.0 4.1 Obligation to return securities received as collateral, at fair value 50.2 0.3 0.3 0.0 50.8 Total 60.0 12.1 6.3 4.2 82.6 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 CP Securi- 2Q21 (CHF million) Cash and due from banks 0 39 16 21 171 247 Trading assets 0 1,068 54 788 6 1,916 Other investments 0 0 109 877 245 1,231 Net loans 603 0 61 22 0 686 Other assets 24 540 31 82 811 1,488 of which loans held-for-sale 0 57 26 0 0 83 of which premises and equipment 0 0 0 29 0 29 Total assets of consolidated VIEs 627 1,647 271 1,790 1,233 5,568 Customer deposits 0 0 0 0 1 1 Trading liabilities 0 0 0 9 0 9 Short-term borrowings 4,700 29 0 0 1,755 1 6,484 Long-term debt 93 1,180 0 3 43 1,319 Other liabilities 70 1 4 70 92 237 Total liabilities of consolidated VIEs 4,863 1,210 4 82 1,891 8,050 4Q20 (CHF million) Cash and due from banks 0 23 22 37 8 90 Trading assets 0 1,255 50 840 19 2,164 Other investments 0 0 129 920 202 1,251 Net loans 653 0 51 29 167 900 Other assets 21 979 15 82 779 1,876 of which loans held-for-sale 0 462 10 0 0 472 of which premises and equipment 0 0 0 30 4 34 Total assets of consolidated VIEs 674 2,257 267 1,908 1,175 6,281 Customer deposits 0 0 0 0 1 1 Trading liabilities 0 0 0 10 0 10 Short-term borrowings 4,178 0 0 0 0 4,178 Long-term debt 0 1,701 0 10 35 1,746 Other liabilities 53 1 3 73 78 208 Total liabilities of consolidated VIEs 4,231 1,702 3 93 114 6,143 1 Reflects the Group’s MCNs outstanding as of the end of 2Q21; these MCNs were issued by Credit Suisse Group (Guernsey) VII Limited, a consolidated VIE of the Group. |
Non-consolidated VIEs | Non-consolidated VIEs Financial intermediation CDO/ CP 1 Securi- 2Q21 (CHF million) Trading assets 257 0 4,480 921 24 7,930 13,612 Net loans 631 547 365 2,770 8,778 1,375 14,466 Other assets 7 0 302 177 0 546 1,032 Total variable interest assets 895 547 5,147 3,868 8,802 9,851 29,110 Maximum exposure to loss 1,532 5,966 7,887 3,868 13,568 10,593 43,414 Total assets of non-consolidated VIEs 11,001 12,544 106,170 163,757 37,131 31,092 361,695 4Q20 (CHF million) Trading assets 250 0 4,500 1,113 66 8,617 14,546 Net loans 357 371 734 1,967 6,989 939 11,357 Other assets 2 0 3 119 0 344 468 Total variable interest assets 609 371 5,237 3,199 7,055 9,900 26,371 Maximum exposure to loss 852 5,538 7,329 3,199 11,235 10,226 38,379 Total assets of non-consolidated VIEs 8,553 11,148 127,785 89,686 26,186 33,140 296,498 1 Includes liquidity facilities provided to third-party CP conduits through Alpine Securities Ltd. |
Bank | |
Securitizations | Securitizations in 6M21 6M20 Gains/(losses) and cash flows (CHF million) CMBS Net gain 1 0 30 Proceeds from transfer of assets 999 4,862 Cash received on interests that continue to be held 26 21 RMBS Net gain 1 62 22 Proceeds from transfer of assets 20,876 11,373 Purchases of previously transferred financial assets or its underlying collateral (1,072) 0 Servicing fees 1 1 Cash received on interests that continue to be held 430 457 Other asset-backed financings Net gain 1 47 61 Proceeds from transfer of assets 6,802 4,766 Purchases of previously transferred financial assets or its underlying collateral (699) (638) Fees 2 81 72 Cash received on interests that continue to be held 7 11 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 6M21 2020 CHF million CMBS Principal amount outstanding 16,247 17,421 Total assets of SPE 23,079 24,455 RMBS Principal amount outstanding 58,318 47,324 Total assets of SPE 58,318 47,863 Other asset-backed financings Principal amount outstanding 26,307 24,968 Total assets of SPE 55,188 50,817 Principal amount outstanding relates to assets transferred from the Bank 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 6M21 6M20 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 92 1,337 172 1,646 of which level 2 82 1,019 158 1,465 of which level 3 10 318 14 181 Weighted-average life, in years 7.4 5.0 8.1 3.6 Prepayment speed assumption (rate per annum), in % 1 – 2 3.0 – 32.8 – 2 1.0 – 38.2 Cash flow discount rate (rate per annum), in % 3 1.8 – 4.5 1.0 – 15.4 1.4 – 9.2 0.7 – 24.7 Expected credit losses (rate per annum), in % 4 0.9 – 3.9 0.1 – 13.7 4.0 – 8.6 3.3 – 22.9 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 6M21 2020 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 232 2,382 319 296 1,851 350 of which non-investment grade 38 330 18 36 631 23 Weighted-average life, in years 6.0 4.0 5.5 5.6 4.0 4.8 Prepayment speed assumption (rate per annum), in % 3 – 5.2 – 30.0 – – 4.0 – 50.1 – Impact on fair value from 10% adverse change – (40.0) – – (43.7) – Impact on fair value from 20% adverse change – (78.0) – – (92.1) – Cash flow discount rate (rate per annum), in % 4 1.7 – 31.5 0.7 – 29.7 0.3 – 28.0 0.6 – 38.2 0.3 – 39.7 0.7 – 27.7 Impact on fair value from 10% adverse change (2.9) (32.5) (3.7) (4.9) (22.4) (4.2) Impact on fair value from 20% adverse change (5.6) (62.7) (7.3) (9.6) (43.5) (8.2) Expected credit losses (rate per annum), in % 5 0.9 – 13.0 0.2 – 28.6 0.3 – 28.0 0.4 – 14.7 0.6 – 39.6 0.7 – 26.8 Impact on fair value from 10% adverse change (1.8) (25.9) (3.5) (4.3) (20.2) (4.5) Impact on fair value from 20% adverse change (3.5) (50.2) (6.8) (8.5) (39.2) (8.9) 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 6M21 2020 CHF million Other asset-backed financings Trading assets 721 496 Other assets 198 246 Liability to SPE, included in other liabilities (919) (742) |
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 6M21 2020 CHF billion Government debt securities 15.9 12.2 Corporate debt securities 8.6 7.7 Asset-backed securities 4.3 6.0 Other 3.0 1.8 Securities sold under repurchase agreements 31.8 27.7 Government debt securities 0.2 0.4 Corporate debt securities 0.3 0.1 Equity securities 3.3 3.5 Other 0.0 0.1 Securities lending transactions 3.8 4.1 Government debt securities 4.7 5.8 Corporate debt securities 4.4 5.6 Equity securities 29.4 39.3 Other 0.2 0.1 Obligation to return securities received as collateral, at fair value 38.7 50.8 Total 74.3 82.6 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities No stated 1 Up to 2 31-90 More than 6M21 (CHF billion) Securities sold under repurchase agreements 3.4 16.5 2.6 9.3 31.8 Securities lending transactions 3.8 0.0 0.0 0.0 3.8 Obligation to return securities received as collateral, at fair value 38.6 0.0 0.0 0.1 38.7 Total 45.8 16.5 2.6 9.4 74.3 2020 (CHF billion) Securities sold under repurchase agreements 5.8 11.8 5.9 4.2 27.7 Securities lending transactions 4.0 0.0 0.1 0.0 4.1 Obligation to return securities received as collateral, at fair value 50.2 0.3 0.3 0.0 50.8 Total 60.0 12.1 6.3 4.2 82.6 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 CP Securi- 6M21 (CHF million) Cash and due from banks 0 39 16 21 171 247 Trading assets 0 1,068 54 788 6 1,916 Other investments 0 0 109 877 245 1,231 Net loans 603 0 61 22 0 686 Other assets 24 540 31 67 792 1,454 of which loans held-for-sale 0 57 26 0 0 83 of which premises and equipment 0 0 0 14 0 14 Total assets of consolidated VIEs 627 1,647 271 1,775 1,214 5,534 Customer deposits 0 0 0 0 1 1 Trading liabilities 0 0 0 9 0 9 Short-term borrowings 4,700 29 0 0 0 4,729 Long-term debt 93 1,180 0 3 43 1,319 Other liabilities 70 1 4 72 84 231 Total liabilities of consolidated VIEs 4,863 1,210 4 84 128 6,289 2020 (CHF million) Cash and due from banks 0 23 22 37 8 90 Trading assets 0 1,255 50 840 19 2,164 Other investments 0 0 129 920 202 1,251 Net loans 653 0 51 29 167 900 Other assets 21 979 15 65 778 1,858 of which loans held-for-sale 0 462 10 0 0 472 of which premises and equipment 0 0 0 13 4 17 Total assets of consolidated VIEs 674 2,257 267 1,891 1,174 6,263 Customer deposits 0 0 0 0 1 1 Trading liabilities 0 0 0 10 0 10 Short-term borrowings 4,178 0 0 0 0 4,178 Long-term debt 0 1,701 0 10 35 1,746 Other liabilities 53 1 3 72 78 207 Total liabilities of consolidated VIEs 4,231 1,702 3 92 114 6,142 |
Non-consolidated VIEs | Non-consolidated VIEs Financial intermediation CDO/ CP 1 Securi- 6M21 (CHF million) Trading assets 257 0 4,480 920 24 7,930 13,611 Net loans 631 547 365 2,770 8,778 1,375 14,466 Other assets 7 0 302 174 0 546 1,029 Total variable interest assets 895 547 5,147 3,864 8,802 9,851 29,106 Maximum exposure to loss 1,532 5,966 7,887 3,864 13,568 10,593 43,410 Total assets of non-consolidated VIEs 11,001 12,544 106,170 162,600 37,131 25,776 355,222 2020 (CHF million) Trading assets 250 0 4,500 1,113 66 8,617 14,546 Net loans 357 371 734 1,967 6,989 939 11,357 Other assets 2 0 3 110 0 344 459 Total variable interest assets 609 371 5,237 3,190 7,055 9,900 26,362 Maximum exposure to loss 852 5,538 7,329 3,190 11,235 10,226 38,370 Total assets of non-consolidated VIEs 8,553 11,148 127,785 87,618 26,186 25,759 287,049 1 Includes liquidity facilities provided to third-party CP conduits through Alpine Securities Ltd. |
Financial instruments (Tables)
Financial instruments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 141 0 – – 141 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 69,465 0 – – 69,465 Securities received as collateral 33,337 5,265 84 – – 38,686 Trading assets 63,367 161,743 5,938 (101,348) 805 130,505 of which debt securities 11,267 44,628 1,655 – 70 57,620 of which foreign governments 10,885 11,376 40 – – 22,301 of which corporates 265 9,854 889 – 70 11,078 of which RMBS 0 20,528 477 – – 21,005 of which equity securities 41,037 2,172 282 – 735 44,226 of which derivatives 9,422 113,199 2,883 (101,348) – 24,156 of which interest rate products 1,212 55,831 805 – – – of which foreign exchange products 220 19,512 139 – – – of which equity/index-related products 7,941 32,473 490 – – – of which other derivatives 0 147 1,073 – – – of which other trading assets 1,641 1,744 1,118 – – 4,503 Investment securities 35 759 0 – – 794 Other investments 13 7 2,231 – 496 2,747 of which other equity investments 13 7 1,353 – 374 1,747 of which life finance instruments 0 0 877 – – 877 Loans 0 8,173 2,928 – – 11,101 of which commercial and industrial loans 0 1,712 1,411 – – 3,123 of which financial institutions 0 3,958 643 – – 4,601 Other intangible assets (mortgage servicing rights) 0 0 189 – – 189 Other assets 155 9,191 1,436 (440) – 10,342 of which failed purchases 126 1,590 12 – – 1,728 of which loans held-for-sale 0 6,433 1,287 – – 7,720 Total assets at fair value 96,907 254,744 12,806 (101,788) 1,301 263,970 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 0 330 0 – – 330 Customer deposits 0 3,489 432 – – 3,921 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 10,983 0 – – 10,983 Obligation to return securities received as collateral 33,337 5,265 84 – – 38,686 Trading liabilities 24,903 113,684 3,035 (108,650) – 32,972 of which debt securities 3,230 4,823 0 – – 8,053 of which foreign governments 3,131 1,002 0 – – 4,133 of which equity securities 12,134 141 41 – – 12,316 of which derivatives 9,539 108,720 2,994 (108,650) – 12,603 of which interest rate products 1,184 52,087 142 – – – of which foreign exchange products 176 20,973 62 – – – of which equity/index-related products 8,127 29,144 1,738 – – – Short-term borrowings 0 7,448 1,106 – – 8,554 Long-term debt 0 59,763 9,673 – – 69,436 of which structured notes over one year and up to two years 0 11,742 2,124 – – 13,866 of which structured notes over two years 0 24,088 6,777 – – 30,865 of which high-trigger instruments 0 11,080 0 – – 11,080 Other liabilities 90 7,557 535 (271) – 7,911 Total liabilities at fair value 58,330 208,519 14,865 (108,921) – 172,793 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 0 525 0 – – 525 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 57,994 0 – – 57,994 Securities received as collateral 44,074 6,598 101 – – 50,773 Trading assets 87,710 181,166 7,535 (119,731) 658 157,338 of which debt securities 16,321 45,766 2,253 – 55 64,395 of which foreign governments 15,908 11,909 140 – – 27,957 of which corporates 353 9,799 1,270 – 55 11,477 of which RMBS 0 20,882 557 – – 21,439 of which equity securities 60,044 2,466 124 – 603 63,237 of which derivatives 9,297 132,054 3,911 (119,731) – 25,531 of which interest rate products 3,036 71,043 733 – – – of which foreign exchange products 42 24,259 143 – – – of which equity/index-related products 6,150 31,945 1,186 – – – of which other derivatives 22 110 1,079 – – – of which other trading assets 2,048 880 1,247 – – 4,175 Investment securities 2 605 0 – – 607 Other investments 13 6 3,054 – 721 3,794 of which other equity investments 13 6 2,132 – 608 2,759 of which life finance instruments 0 0 920 – – 920 Loans 0 7,739 3,669 – – 11,408 of which commercial and industrial loans 0 2,187 1,347 – – 3,534 of which financial institutions 0 3,506 1,082 – – 4,588 Other intangible assets (mortgage servicing rights) 0 0 180 – – 180 Other assets 137 7,315 1,825 (904) – 8,373 of which failed purchases 109 1,229 51 – – 1,389 of which loans held-for-sale 0 4,870 1,576 – – 6,446 Total assets at fair value 131,936 261,948 16,364 (120,635) 1,379 290,992 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 0 413 0 – – 413 Customer deposits 0 3,895 448 – – 4,343 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,594 0 – – 13,594 Obligation to return securities received as collateral 44,074 6,598 101 – – 50,773 Trading liabilities 33,544 137,947 4,246 (129,867) 1 45,871 of which equity securities 20,527 111 55 – 1 20,694 of which derivatives 10,536 132,885 4,191 (129,867) – 17,745 of which interest rate products 3,264 68,159 169 – – – of which foreign exchange products 51 28,819 72 – – – of which equity/index-related products 7,149 30,612 2,010 – – – of which credit derivatives 0 4,663 1,335 – – – Short-term borrowings 0 10,039 701 – – 10,740 Long-term debt 0 63,708 7,268 – – 70,976 of which structured notes over one year and up to two years 0 11,787 1,133 – – 12,920 of which structured notes over two years 0 28,330 5,526 – – 33,856 of which high-trigger instruments 0 10,586 0 – – 10,586 Other liabilities 0 6,678 1,271 (169) – 7,780 Total liabilities at fair value 77,618 242,872 14,035 (130,036) 1 204,490 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 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading assets 7,535 594 (1,635) 2,472 (2,976) 508 (1,119) 39 140 0 0 0 0 380 5,938 128 of which debt securities 2,253 296 (736) 1,859 (2,285) 0 0 (7) 138 0 0 0 0 137 1,655 103 of which corporates 1,270 137 (176) 1,403 (1,913) 0 0 (5) 95 0 0 0 0 78 889 99 of which derivatives 3,911 179 (856) 0 0 508 (1,033) 29 (30) 0 0 0 0 175 2,883 72 of which interest rate products 733 59 (81) 0 0 114 (59) 0 18 0 0 0 0 21 805 54 of which other derivatives 1,079 0 0 0 0 153 (157) 0 (55) 0 0 0 0 53 1,073 (60) of which other trading assets 1,247 22 (32) 493 (617) 0 (86) 10 21 0 0 0 0 60 1,118 (47) Other investments 3,054 3 (753) 20 (473) 0 0 0 (17) 0 318 0 0 79 2,231 43 of which other equity investments 2,132 0 (753) 3 (375) 0 0 0 (6) 0 318 0 0 34 1,353 52 of which life finance instruments 920 0 0 17 (94) 0 0 0 (11) 0 0 0 0 45 877 18 Loans 3,669 22 (533) 357 (73) 162 (946) 8 85 0 1 0 0 176 2,928 25 of which commercial and industrial loans 1,347 22 (12) 10 (31) 119 (184) 14 57 0 1 0 0 68 1,411 36 of which financial institutions 1,082 0 (222) 0 (42) 32 (296) 3 40 0 0 0 0 46 643 4 Other intangible assets (mortgage servicing rights) 180 0 0 22 0 0 0 0 0 0 (22) 0 0 9 189 (22) Other assets 1,825 164 (451) 2,500 (2,176) 77 (573) 13 (42) 0 0 0 0 99 1,436 (76) of which loans held-for-sale 1,576 164 (409) 2,469 (2,137) 77 (571) 11 19 0 0 0 0 88 1,287 (41) Total assets at fair value 16,364 783 (3,372) 5,435 (5,784) 747 (2,638) 60 166 0 297 0 0 748 12,806 98 Liabilities (CHF million) Customer deposits 448 0 0 0 0 0 0 0 (8) 0 0 0 (13) 5 432 10 Obligation to return securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading liabilities 4,246 584 (1,961) 80 (24) 710 (1,138) 152 169 0 0 0 0 217 3,035 779 of which derivatives 4,191 566 (1,961) 69 (4) 710 (1,138) 152 193 0 0 0 0 216 2,994 781 of which equity/index-related derivatives 2,010 427 (1,049) 0 0 350 (527) 151 265 0 0 0 0 111 1,738 529 Short-term borrowings 701 155 (207) 0 0 930 (608) (1) 95 0 0 0 0 41 1,106 67 Long-term debt 7,268 2,715 (2,046) 0 0 4,401 (3,119) 62 (4) 0 4 (3) (30) 425 9,673 210 of which structured notes over one year and up to two years 1,133 1,165 (732) 0 0 1,127 (771) 39 97 0 0 0 (1) 67 2,124 39 of which structured notes over two years 5,526 1,532 (1,287) 0 0 3,020 (2,227) 24 (109) 0 0 (2) (29) 329 6,777 (59) Other liabilities 1,271 7 (552) 24 (46) 59 (424) 8 (8) 107 38 0 0 51 535 2 Total liabilities at fair value 14,035 3,461 (4,766) 168 (156) 6,100 (5,289) 221 244 107 42 (3) (43) 744 14,865 1,068 Net assets/(liabilities) at fair value 2,329 (2,678) 1,394 5,267 (5,628) (5,353) 2,651 (161) (78) (107) 255 3 43 4 (2,059) (970) 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 6M21, changes in net unrealized gains/(losses) of CHF (1,011) 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 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 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 derivatives 3,534 719 (629) 0 0 1,290 (1,606) 111 834 (1) 0 0 0 (151) 4,101 999 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) 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 derivatives 3,801 497 (904) 0 (3) 1,602 (1,276) 184 (136) (5) 0 0 0 (103) 3,657 575 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) 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) 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. |
Quantitative information about level 3 assets and liabilities at fair value | Quantitative information about level 3 assets measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 5,938 of which debt securities 1,655 of which corporates 889 of which 172 Discounted cash flow Credit spread, in bp 40 973 1,928 Price, in % 0 100 28 Recovery rate, in % 1 1 0 of which 12 Market comparable Price, in % 0 100 63 of which 641 Option model Buyback probability, in % 50 100 73 Correlation, in % (85) 100 68 Credit spread, in bp (4) 105 81 Fund gap risk, in % 2 0 3 1 Volatility, in % 0 137 18 of which 5 Vendor price Price, in actuals 0 153 135 of which 55 Price Price, in % 32 116 86 of which derivatives 2,883 of which interest rate products 805 of which 7 Discounted cash flow Prepayment rate, in % 3 10 6 Volatility, in % 93 97 95 of which 756 Option model Correlation, in % 1 100 8 Mean reversion, in % 2 (55) (8) 0 Prepayment rate, in % 3 28 10 Volatility, in % (3) 1 0 of which other derivatives 1,073 Discounted cash flow Market implied life expectancy, in years 2 15 6 Mortality rate, in % 72 137 98 of which other trading assets 1,118 of which 728 Discounted cash flow Market implied life expectancy, in years 3 14 7 Tax swap rate, in % 30 30 30 of which 256 Market comparable Price, in % 0 125 28 of which 133 Option model Mortality rate, in % 0 70 6 Other investments 2,231 of which other equity investments 1,353 of which 974 Adjusted NAV Price, in actuals 310 310 310 of which 326 Price Price, in % 100 100 100 Price, in actuals 1 1,244 425 of which life finance instruments 877 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 2,928 of which commercial and industrial loans 1,411 of which 724 Discounted cash flow Credit spread, in bp 146 2,014 589 of which 597 Price Credit spread, in bp 300 300 300 Price, in % 7 100 77 of which financial institutions 643 of which 529 Discounted cash flow Credit spread, in bp 164 1,615 622 of which 113 Price Price, in % 10 61 28 Other assets 1,436 of which loans held-for-sale 1,287 of which 354 Discounted cash flow Credit spread, in bp 279 932 325 of which 885 Market comparable Price, in % 0 152 81 of which 17 Price Price, in % 0 63 53 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 measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 7,535 of which debt securities 2,253 of which corporates 1,270 of which 386 Discounted cash flow Credit spread, in bp (9) 1,509 1,007 of which 321 Market comparable Price, in % 0 227 95 of which 416 Option model Correlation, in % (50) 100 55 Gap risk, in % 2 0 2 0 Recovery rate, in % 40 40 40 Volatility, in % 0 158 23 of which 71 Vendor price Price, in actuals 0 2,292 1,654 Unadjusted NAV, in actuals 1 1 1 of which derivatives 3,911 of which equity/index-related products 1,186 Option model Buyback probability, in % 50 100 66 Correlation, in % (50) 100 58 Gap risk, in % 2 0 4 0 Volatility, in % (2) 158 24 of which other derivatives 1,079 Discounted cash flow Market implied life expectancy, in years 2 14 6 Mortality rate, in % 72 137 98 of which other trading assets 1,247 of which 766 Discounted cash flow Market implied life expectancy, in years 3 14 7 Other investments 3,054 of which other equity investments 2,132 of which 840 Discounted cash flow Discount rate, in % 9 9 9 Terminal growth rate, in % 3 3 3 of which 118 Market comparable Price, in % 100 100 100 of which 974 Adjusted NAV Price, in actuals 310 310 310 of which 110 Vendor price Price, in actuals 1 1,249 713 of which life finance instruments 920 Discounted cash flow Market implied life expectancy, in years 2 15 6 Loans 3,669 of which commercial and industrial loans 1,347 of which 908 Discounted cash flow Credit spread, in bp 237 1,480 554 Recovery rate, in % 25 25 25 of which 338 Market comparable Price, in % 0 100 70 72 Option model Pre-IPO intrinsic option, in actuals 100 100 100 of which financial institutions 1,082 of which 674 Discounted cash flow Credit spread, in bp 192 1,698 612 Recovery rate, in % 25 40 25 of which 190 Market comparable Price, in % 0 100 54 Other assets 1,825 of which loans held-for-sale 1,576 of which 296 Discounted cash flow Credit spread, in bp 246 506 343 Recovery rate, in % 1 40 34 of which 1,277 Market comparable Price, in % 0 111 71 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 liabilities measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 3,035 of which derivatives 2,994 of which equity/index-related derivatives 1,738 of which 3 Market comparable Price, in actuals 0 34 30 of which 1,688 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (85) 100 67 Dividend yield, in % 1 8 4 Unadjusted NAV, in actuals 42 3,544 876 Volatility, in % (3) 137 18 of which 46 Price Price, in actuals 0 1,636 1 Short-term borrowings 1,106 of which 44 Discounted cash flow Credit spread, in bp 104 1,036 788 of which 968 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (85) 100 68 Fund gap risk, in % 3 0 3 1 Gap risk, in % 3 0 4 1 Volatility, in % 0 137 16 of which 12 Price Price, in % 59 59 59 Long-term debt 9,673 of which structured notes over one year and up to two years 2,124 of which 12 Discounted cash flow Credit spread, in bp 40 40 40 of which 2,110 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (85) 100 69 Credit spread, in bp (4) 105 81 Fund gap risk, in % 3 0 3 1 Gap risk, in % 3 0 4 1 Unadjusted NAV, in actuals 42 3,544 876 Volatility, in % 0 137 18 of which structured notes over two years 6,777 of which 110 Discounted cash flow Credit spread, in bp 2 309 84 of which 6,521 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (85) 100 68 Credit spread, in bp (4) 105 81 Fund gap risk, in % 3 0 3 1 Unadjusted NAV, in actuals 42 3,544 876 Volatility, in % 0 137 14 of which 12 Price Price, in % 4 26 21 1 Weighted average is calculated based on the fair value of the instruments. 2 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. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 liabilities measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 4,246 of which derivatives 4,191 of which equity/index-related derivatives 2,010 Option model Buyback probability, in % 2 50 100 66 Correlation, in % (50) 100 58 Volatility, in % (2) 158 27 of which credit derivatives 1,335 of which 738 Discounted cash flow Correlation, in % 37 45 44 Credit spread, in bp 0 1,468 391 Default rate, in % 0 7 3 Discount rate, in % 6 19 14 Funding spread, in bp 55 183 120 Loss severity, in % 0 100 68 Prepayment rate, in % 0 9 7 Recovery rate, in % 12 81 38 of which 520 Market comparable Price, in % 84 116 99 of which 12 Option model Correlation, in % 49 50 50 Credit spread, in bp 13 865 250 Short-term borrowings 701 of which 58 Discounted cash flow Credit spread, in bp (4) 992 722 Recovery rate, in % 35 40 39 of which 508 Option model Buyback probability, in % 50 100 66 Correlation, in % (50) 100 56 Fund gap risk, in % 3 0 2 0 Volatility, in % 3 158 30 Long-term debt 7,268 of which structured notes over one year and up to two years 1,133 of which 48 Discounted cash flow Credit spread, in bp 35 189 52 Recovery rate, in % 25 25 25 of which 1,051 Option model Buyback probability, in % 2 50 100 66 Correlation, in % (50) 100 55 Fund gap risk, in % 3 0 2 0 Gap risk, in % 0 4 1 Volatility, in % 0 158 24 of which structured notes over two years 5,526 of which 1,380 Discounted cash flow Credit spread, in bp (14) 481 58 Recovery rate, in % 23 40 38 of which 9 Market comparable Price, in % 27 46 27 of which 3,961 Option model Buyback probability, in % 2 50 100 66 Correlation, in % (50) 100 55 Gap risk, in % 3 0 2 0 Mean reversion, in % 4 (10) 0 (5) Volatility, in % 0 158 21 1 Weighted average is calculated based on the fair value of the instruments. 2 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. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 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 instrument-specific credit risk 1 Gains/(losses) recorded 1 in 2Q21 Cumulative 2Q20 2Q21 2Q20 Financial instruments (CHF million) Customer deposits (1) (64) (15) 0 0 Short-term borrowings 3 (55) (24) 0 0 Long-term debt (518) (2,464) (3,150) 31 22 of which treasury debt over two years (523) (1,121) (1,632) 0 0 of which structured notes over two years (9) (1,252) (1,253) 31 22 Total (516) (2,583) (3,189) 31 22 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 2Q21 4Q20 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 69,465 69,314 151 57,994 57,895 99 Loans 11,101 11,804 (703) 11,408 12,079 (671) Other assets 1 9,448 12,122 (2,674) 7,834 10,090 (2,256) Due to banks and customer deposits (538) (471) (67) (578) (489) (89) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (10,983) (10,982) (1) (13,594) (13,578) (16) Short-term borrowings (8,554) (8,556) 2 (10,740) (10,632) (108) Long-term debt 2 (69,436) (71,204) 1,768 (70,976) (73,842) 2,866 Other liabilities (883) (1,844) 961 (616) (1,569) 953 Non-performing and non-interest-earning loans 3 591 3,543 (2,952) 543 3,364 (2,821) 1 Primarily loans held-for-sale. 2 Long-term debt includes both principal-protected and non-principal protected instruments. For non-principal-protected instruments, the original notional amount has been reported in the aggregate unpaid principal. 3 Included in loans or other assets. Gains and losses on financial instruments 6M21 6M20 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 18 1 1 1 of which related to credit risk 8 (6) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 306 1 789 1 Other investments 293 2 205 3 of which related to credit risk 0 1 Loans 277 1 (247) 3 of which related to credit risk 59 (575) Other assets 405 1 416 1 of which related to credit risk 173 (19) Due to banks and customer deposits (37) 3 (39) 3 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (29) 1 (82) 1 Short-term borrowings (406) 3 (16) 3 of which related to credit risk (1) 1 Long-term debt (3,802) 3 1,270 3 of which related to credit risk 0 14 Other liabilities 120 2 (102) 3 of which related to credit risk 67 (124) 1 Primarily recognized in net interest income. 2 Primarily recognized in other revenues. 3 Primarily recognized in trading 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 2Q21 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 25,179 0 25,180 0 25,180 Loans 285,192 0 280,554 13,252 293,806 Other financial assets 1 161,682 145,446 16,030 288 161,764 Financial liabilities Due to banks and customer deposits 413,995 239,202 174,860 0 414,062 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 9,941 0 9,941 0 9,941 Short-term borrowings 13,813 0 13,813 0 13,813 Long-term debt 100,790 0 100,867 2,968 103,835 Other financial liabilities 2 14,389 0 13,950 406 14,356 4Q20 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 21,139 0 21,139 0 21,139 Loans 277,137 0 272,660 14,534 287,194 Other financial assets 1 155,266 138,672 16,315 303 155,290 Financial liabilities Due to banks and customer deposits 402,589 234,700 167,924 0 402,624 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 10,256 0 10,256 0 10,256 Short-term borrowings 10,128 0 10,128 0 10,128 Long-term debt 90,111 0 90,897 2,317 93,214 Other financial liabilities 2 16,012 0 15,567 412 15,979 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 | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 141 0 – – 141 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 69,465 0 – – 69,465 Securities received as collateral 33,337 5,265 84 – – 38,686 Trading assets 63,427 161,961 5,938 (101,447) 805 130,684 of which debt securities 11,267 44,747 1,655 – 70 57,739 of which foreign government 10,885 11,376 40 – – 22,301 of which corporates 265 9,973 889 – 70 11,197 of which RMBS 0 20,528 477 – – 21,005 of which equity securities 41,098 2,172 282 – 735 44,287 of which derivatives 9,422 113,297 2,883 (101,447) – 24,155 of which interest rate products 1,212 55,930 805 – – – of which foreign exchange products 220 19,512 139 – – – of which equity/index-related products 7,941 32,473 490 – – – of which other derivatives 0 146 1,073 – – – of which other trading assets 1,640 1,745 1,118 – – 4,503 Investment securities 33 759 0 – – 792 Other investments 13 7 2,231 – 495 2,746 of which other equity investments 13 7 1,353 – 373 1,746 of which life finance instruments 0 0 877 – – 877 Loans 0 8,173 2,928 – – 11,101 of which commercial and industrial loans 0 1,712 1,411 – – 3,123 of which financial institutions 0 3,958 643 – – 4,601 Other intangible assets (mortgage servicing rights) 0 0 189 – – 189 Other assets 155 9,191 1,436 (440) – 10,342 of which failed purchases 126 1,590 12 – – 1,728 of which loans held-for-sale 0 6,433 1,287 – – 7,720 Total assets at fair value 96,965 254,962 12,806 (101,887) 1,300 264,146 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 0 330 0 – – 330 Customer deposits 0 3,489 432 – – 3,921 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 11,080 0 – – 11,080 Obligation to return securities received as collateral 33,337 5,265 84 – – 38,686 Trading liabilities 24,903 113,741 3,035 (108,708) – 32,971 of which debt securities 3,230 4,824 0 – – 8,054 of which foreign government 3,131 1,002 0 – – 4,133 of which equity securities 12,133 141 41 – – 12,315 of which derivatives 9,540 108,776 2,994 (108,708) – 12,602 of which interest rate products 1,184 52,145 142 – – – of which foreign exchange products 176 20,973 62 – – – of which equity/index-related products 8,127 29,143 1,738 – – – Short-term borrowings 0 7,448 1,106 – – 8,554 Long-term debt 0 58,813 9,673 – – 68,486 of which structured notes over one year and up to two years 0 11,742 2,124 – – 13,866 of which structured notes over two years 0 24,088 6,777 – – 30,865 of which high-trigger instruments 0 11,124 0 – – 11,124 Other liabilities 90 7,537 535 (271) – 7,891 Total liabilities at fair value 58,330 207,703 14,865 (108,979) – 171,919 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 0 525 0 – – 525 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 57,994 0 – – 57,994 Securities received as collateral 44,074 6,598 101 – – 50,773 Trading assets 87,746 181,303 7,535 (119,731) 658 157,511 of which debt securities 16,321 45,903 2,253 – 55 64,532 of which foreign government 15,908 11,909 140 – – 27,957 of which corporates 353 9,936 1,270 – 55 11,614 of which RMBS 0 20,882 557 – – 21,439 of which equity securities 60,080 2,466 124 – 603 63,273 of which derivatives 9,297 132,054 3,911 (119,731) – 25,531 of which interest rate products 3,036 71,043 733 – – – of which foreign exchange products 42 24,259 143 – – – of which equity/index-related products 6,150 31,945 1,186 – – – of which other derivatives 22 110 1,079 – – – of which other trading assets 2,048 880 1,247 – – 4,175 Investment securities 1 604 0 – – 605 Other investments 13 6 3,054 – 720 3,793 of which other equity investments 13 6 2,132 – 609 2,760 of which life finance instruments 0 0 920 – – 920 Loans 0 7,739 3,669 – – 11,408 of which commercial and industrial loans 0 2,187 1,347 – – 3,534 of which financial institutions 0 3,506 1,082 – – 4,588 Other intangible assets (mortgage servicing rights) 0 0 180 – – 180 Other assets 137 7,315 1,825 (904) – 8,373 of which failed purchases 109 1,229 51 – – 1,389 of which loans held-for-sale 0 4,870 1,576 – – 6,446 Total assets at fair value 131,971 262,084 16,364 (120,635) 1,378 291,162 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 0 413 0 – – 413 Customer deposits 0 3,895 448 – – 4,343 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,688 0 – – 13,688 Obligation to return securities received as collateral 44,074 6,598 101 – – 50,773 Trading liabilities 33,543 138,018 4,246 (129,937) 1 45,871 of which equity securities 20,527 111 55 – 1 20,694 of which derivatives 10,535 132,956 4,191 (129,937) – 17,745 of which interest rate products 3,264 68,229 169 – – – of which foreign exchange products 51 28,819 72 – – – of which equity/index-related products 7,149 30,612 2,010 – – – of which credit derivatives 0 4,663 1,335 – – – Short-term borrowings 0 10,039 701 – – 10,740 Long-term debt 0 62,957 7,286 – – 70,243 of which structured notes over one year and up to two years 0 11,787 1,133 – – 12,920 of which structured notes over two years 0 28,330 5,526 – – 33,856 of which high-trigger instruments 0 10,627 0 – – 10,627 Other liabilities 0 6,675 1,250 (169) – 7,756 Total liabilities at fair value 77,617 242,283 14,032 (130,106) 1 203,827 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 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading assets 7,535 594 (1,635) 2,472 (2,976) 508 (1,119) 39 140 0 0 0 0 380 5,938 128 of which debt securities 2,253 296 (736) 1,859 (2,285) 0 0 (7) 138 0 0 0 0 137 1,655 103 of which corporates 1,270 137 (176) 1,403 (1,913) 0 0 (5) 95 0 0 0 0 78 889 99 of which derivatives 3,911 179 (856) 0 0 508 (1,033) 29 (30) 0 0 0 0 175 2,883 72 of which interest rate products 733 59 (81) 0 0 114 (59) 0 18 0 0 0 0 21 805 54 of which other derivatives 1,079 0 0 0 0 153 (157) 0 (55) 0 0 0 0 53 1,073 (60) of which other trading assets 1,247 22 (32) 493 (617) 0 (86) 10 21 0 0 0 0 60 1,118 (47) Other investments 3,054 3 (753) 20 (473) 0 0 0 (17) 0 318 0 0 79 2,231 46 of which other equity investments 2,132 0 (753) 3 (375) 0 0 0 (6) 0 318 0 0 34 1,353 55 of which life finance instruments 920 0 0 17 (94) 0 0 0 (11) 0 0 0 0 45 877 18 Loans 2 3,669 22 (533) 357 (73) 162 (946) 8 85 0 1 0 0 176 2,928 25 of which commercial and industrial loans 2 1,347 22 (12) 10 (31) 119 (184) 14 57 0 1 0 0 68 1,411 36 of which financial institutions 1,082 0 (222) 0 (42) 32 (296) 3 40 0 0 0 0 46 643 4 Other intangible assets (mortgage servicing rights) 180 0 0 22 0 0 0 0 0 0 (22) 0 0 9 189 (22) Other assets 1,825 164 (451) 2,500 (2,176) 77 (573) 13 (42) 0 0 0 0 99 1,436 (76) of which loans held-for-sale 1,576 164 (409) 2,469 (2,137) 77 (571) 11 19 0 0 0 0 88 1,287 (41) Total assets at fair value 16,364 783 (3,372) 5,435 (5,784) 747 (2,638) 60 166 0 297 0 0 748 12,806 101 Liabilities (CHF million) Customer deposits 448 0 0 0 0 0 0 0 (8) 0 0 0 (13) 5 432 10 Obligation to return securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading liabilities 4,246 584 (1,961) 80 (24) 710 (1,138) 152 169 0 0 0 0 217 3,035 779 of which derivatives 4,191 566 (1,961) 69 (4) 710 (1,138) 152 193 0 0 0 0 216 2,994 781 of which equity/index-related derivatives 2,010 427 (1,049) 0 0 350 (527) 151 265 0 0 0 0 111 1,738 529 Short-term borrowings 701 155 (207) 0 0 930 (608) (1) 95 0 0 0 0 41 1,106 67 Long-term debt 7,286 2,697 (2,046) 0 0 4,401 (3,119) 62 (8) 0 0 (3) (30) 433 9,673 203 of which structured notes over one year and up to two years 1,133 1,165 (732) 0 0 1,127 (771) 39 97 0 0 0 (1) 67 2,124 39 of which structured notes over two years 5,526 1,532 (1,287) 0 0 3,020 (2,227) 24 (109) 0 0 (2) (29) 329 6,777 (59) Other liabilities 1,250 7 (533) 24 (46) 59 (416) 8 (8) 102 38 0 0 50 535 2 Total liabilities at fair value 14,032 3,443 (4,747) 168 (156) 6,100 (5,281) 221 240 102 38 (3) (43) 751 14,865 1,061 Net assets/(liabilities) at fair value 2,332 (2,660) 1,375 5,267 (5,628) (5,353) 2,643 (161) (74) (102) 259 3 43 (3) (2,059) (960) 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 6M21, changes in net unrealized gains/(losses) of CHF (1,003) 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 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 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 derivatives 3,534 719 (629) 0 0 1,290 (1,606) 111 834 (1) 0 0 0 (151) 4,101 999 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) 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 derivatives 3,801 497 (904) 0 (3) 1,602 (1,276) 184 (136) (5) 0 0 0 (103) 3,657 575 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) 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. As of 6M20, changes in net unrealized gains/(losses) of CHF 284 million and CHF (36) 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. |
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 6M21 Cumulative 6M20 6M21 6M20 Financial instruments (CHF million) Customer deposits 13 (64) 23 0 0 Short-term borrowings 13 (55) (22) 0 0 Long-term debt (21) (2,397) 1,723 77 99 of which treasury debt over two years (321) (1,044) 1,306 0 0 of which structured notes over two years 269 (1,262) 300 77 99 Total 5 (2,516) 1,724 77 99 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 6M21 2020 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 69,465 69,314 151 57,994 57,895 99 Loans 11,101 11,804 (703) 11,408 12,079 (671) Other assets 1 9,448 12,122 (2,674) 7,834 10,090 (2,256) Due to banks and customer deposits (538) (471) (67) (578) (489) (89) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (11,080) (11,079) (1) (13,688) (13,672) (16) Short-term borrowings (8,554) (8,556) 2 (10,740) (10,632) (108) Long-term debt 2 (68,486) (70,327) 1,841 (70,243) (73,175) 2,932 Other liabilities (883) (1,844) 961 (616) (1,569) 953 Non-performing and non-interest-earning loans 3 591 3,543 (2,952) 543 3,364 (2,821) 1 Primarily loans held-for-sale. 2 Long-term debt includes both principal-protected and non-principal protected instruments. For non-principal-protected instruments, the original notional amount has been reported in the aggregate unpaid principal. 3 Included in loans or other assets. Gains and losses on financial instruments 6M21 6M20 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 18 1 1 1 of which related to credit risk 8 (6) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 306 1 789 1 Other investments 293 2 205 3 of which related to credit risk 0 1 Loans 277 1 (247) 3 of which related to credit risk 59 (575) Other assets 405 1 416 1 of which related to credit risk 173 (19) Due to banks and customer deposits (37) 3 (39) 3 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (29) 1 (82) 1 Short-term borrowings (406) 3 (16) 3 of which related to credit risk (1) 1 Long-term debt (3,347) 3 1,842 3 of which related to credit risk 0 14 Other liabilities 120 2 (102) 3 of which related to credit risk 67 (124) 1 Primarily recognized in net interest income. 2 Primarily recognized in other revenues. 3 Primarily recognized in trading 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 6M21 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 25,179 0 25,180 0 25,180 Loans 293,508 0 288,871 13,252 302,123 Other financial assets 1 160,724 144,457 16,058 273 160,788 Financial liabilities Due to banks and customer deposits 415,020 239,969 175,118 0 415,087 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 9,941 0 9,941 0 9,941 Short-term borrowings 17,665 0 17,666 0 17,666 Long-term debt 95,807 0 95,840 2,955 98,795 Other financial liabilities 2 14,484 0 14,069 382 14,451 2020 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 21,139 0 21,139 0 21,139 Loans 285,570 0 281,097 14,534 295,631 Other financial assets 1 154,441 137,763 16,399 302 154,464 Financial liabilities Due to banks and customer deposits 403,704 235,477 168,262 0 403,739 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 10,256 0 10,256 0 10,256 Short-term borrowings 10,568 0 10,569 0 10,569 Long-term debt 90,035 0 90,716 2,317 93,033 Other financial liabilities 2 16,131 0 15,694 403 16,097 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, 2021 | |
Assets pledged and collateral | Assets pledged end of 2Q21 4Q20 CHF million Total assets pledged or assigned as collateral 116,523 144,355 of which encumbered 55,154 82,950 1 1 Prior period has been corrected. |
Fair value of collateral received with the right to sell or repledge | Collateral end of 2Q21 4Q20 1 CHF million Fair value of collateral received with the right to sell or repledge 370,803 385,515 of which sold or repledged 135,894 158,567 1 Prior period has been corrected. |
Bank | |
Assets pledged and collateral | Assets pledged end of 6M21 2020 CHF million Total assets pledged or assigned as collateral 116,523 144,355 of which encumbered 55,154 82,950 1 1 Prior period has been corrected. |
Fair value of collateral received with the right to sell or repledge | Collateral end of 6M21 2020 1 CHF million Fair value of collateral received with the right to sell or repledge 370,803 385,515 of which sold or repledged 135,894 158,567 1 Prior period has been corrected. |
Recently issued accounting st_2
Recently issued accounting standards (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Accounting change | ||||||
Retained Earnings (Accumulated Deficit) | SFr 32,715 | SFr 32,582 | SFr 32,715 | SFr 32,834 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (21,697) | (20,667) | (21,697) | (23,150) | ||
Net revenues | 5,103 | 7,574 | SFr 6,194 | 12,677 | SFr 11,970 | |
Total operating expenses | 4,315 | 3,937 | 4,347 | 8,252 | 8,354 | |
Compensation and benefits | 2,356 | 2,207 | 2,594 | 4,563 | 4,910 | |
General and administrative expenses | 1,589 | 1,376 | SFr 1,440 | 2,965 | 2,786 | |
Assets and Liabilities, Lessee [Abstract] | ||||||
Operating Lease, Liability | 2,652 | SFr 2,740 | 2,652 | 2,759 | ||
Bank | ||||||
Accounting change | ||||||
Retained Earnings (Accumulated Deficit) | 15,973 | 15,973 | 15,871 | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (18,922) | (18,922) | (20,239) | |||
Net revenues | 12,882 | 12,015 | ||||
Total operating expenses | 8,494 | 8,573 | ||||
Compensation and benefits | 4,096 | 4,420 | ||||
General and administrative expenses | 3,664 | SFr 3,495 | ||||
Assets and Liabilities, Lessee [Abstract] | ||||||
Operating Lease, Liability | SFr 1,896 | SFr 1,896 | SFr 1,981 |
Recently issued accounting st_3
Recently issued accounting standards (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Assets [Abstract] | |||
Interest-bearing deposits with banks | SFr 1,313 | SFr 1,447 | SFr 1,298 |
Loans Receivable, Fair Value Disclosure | 11,101 | 11,827 | 11,408 |
Financing Receivable and Fair value Loans, Net Reported amount | 299,844 | 304,188 | 291,908 |
Financing Receivable, before Allowance for Credit Loss and Fee | 290,249 | 293,992 | 282,131 |
Other Assets | 42,171 | 48,902 | 39,637 |
Liabilities [Abstract] | |||
Other Liabilities | 29,071 | 31,703 | 31,434 |
Other Liabilities, Fair Value Disclosure | 7,911 | 7,913 | 7,780 |
Off-Balance Sheet, Credit Loss, Liability | 260 | 324 | 311 |
Retained Earnings (Accumulated Deficit) | 32,715 | SFr 32,582 | 32,834 |
Bank | |||
Assets [Abstract] | |||
Interest-bearing deposits with banks | 1,245 | 1,230 | |
Loans Receivable, Fair Value Disclosure | 11,101 | 11,408 | |
Financing Receivable and Fair value Loans, Net Reported amount | 308,159 | 300,341 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 298,563 | 290,563 | |
Other Assets | 38,779 | 36,574 | |
Liabilities [Abstract] | |||
Other Liabilities | 27,935 | 30,340 | |
Other Liabilities, Fair Value Disclosure | 7,891 | 7,756 | |
Off-Balance Sheet, Credit Loss, Liability | 260 | 311 | |
Retained Earnings (Accumulated Deficit) | SFr 15,973 | SFr 15,871 |
Business developments (Details)
Business developments (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | ||
Business Acquisition | |||||||||
Issued shares (in shares) | 2,650,747,720 | 2,447,747,720 | 2,556,011,720 | 2,650,747,720 | 2,556,011,720 | 2,447,747,720 | 2,556,011,720 | 2,556,011,720 | |
Other Revenue, Other Investments | SFr 131 | SFr 199 | SFr 223 | SFr 330 | SFr 451 | ||||
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 332 | SFr 451 | |||||||
York Capital Management | |||||||||
Business Acquisition | |||||||||
Other Revenue, Other Investments | SFr (414) | ||||||||
[1] | The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2021. Each share is entitled to one vote. The Bank has no warrants on its own shares outstanding. |
Business developments - Share t
Business developments - Share transactions (Details 2) - CHF (SFr) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | |
Additional share information | ||||||||
Issuance of common shares | 203,000,000 | 0 | 0 | 203,000,000 | 0 | |||
Issued shares (in shares) | 2,650,747,720 | 2,447,747,720 | 2,556,011,720 | 2,650,747,720 | 2,556,011,720 | 2,447,747,720 | 2,556,011,720 | 2,556,011,720 |
Mandatory convertible notes (MCNs) [Member] | ||||||||
Additional share information | ||||||||
Common Stock, Terms of Conversion | On April 22, 2021, the Group announced that it placed two series of mandatory convertible notes (MCNs), Series A MCNs and Series B MCNs, which will be convertible into 100 million shares and 103 million shares of Credit Suisse Group AG, respectively. The MCNs settled on May 12, 2021. The aggregate principal amount of Series A MCNs issued was CHF 865 million and the aggregate principal amount of Series B MCNs issued was CHF 891 million. The shares of Credit Suisse Group AG underlying the Series A MCNs were issued from Credit Suisse Group AG’s conditional capital. The shares of Credit Suisse Group AG underlying the Series B MCNs were issued from Credit Suisse Group AG’s authorized capital. As of the end of 2Q21, MCNs with a principal value of CHF 924,000 have been early converted into 106,805 shares of Credit Suisse Group AG. The remaining shares of Credit Suisse Group AG are held by Credit Suisse Group (Guernsey) VII Limited, the issuing entity of the MCNs for delivery to holders of MCNs upon conversion of the MCNs. | |||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | SFr 924,000 | |||||||
Issued shares (in shares) | 106,805 | 106,805 | ||||||
Series A MCNs [Member] | ||||||||
Additional share information | ||||||||
Issuance of common shares | 100,000,000 | |||||||
MCNs principal amount | SFr 865,000,000 | SFr 865,000,000 | ||||||
Series B MCNs [Member] | ||||||||
Additional share information | ||||||||
Issuance of common shares | 103,000,000 | |||||||
MCNs principal amount | SFr 891,000,000 | SFr 891,000,000 |
Business developments - Busines
Business developments - Business developments (Details 5) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Subsidiary, Sale of Stock [Line Items] | |||||
Net revenues | SFr 5,103 | SFr 7,574 | SFr 6,194 | SFr 12,677 | SFr 11,970 |
Total operating expenses | SFr 4,315 | SFr 3,937 | SFr 4,347 | SFr 8,252 | SFr 8,354 |
Allfunds Group [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Sale of Stock, Description of Transaction | As previously disclosed, during 2019 and 2020 Credit Suisse held an equity investment in Allfunds Group following the transfer of the Group’s open architecture investment fund platform Credit Suisse InvestLab AG to Allfunds Group. On April 23, 2021, Allfunds Group announced a successful IPO on the Euronext Amsterdam exchange with an initial market capitalization of EUR 7.24 billion on the day of the listing. Following the IPO, the Group holds an equity interest in Allfunds Group of 9.4%, which has been reclassified to trading assets from other investments. Net revenues included a gain of CHF 317 million reflecting the share price development after the IPO as well as the reduction of our equity interest from 14.0% to 9.4%. Operating expenses included CHF 19 million of costs directly related to the IPO of Allfunds Group. | ||||
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions | 9.40% | 14.00% | |||
Net revenues | SFr 317 | ||||
Total operating expenses | SFr 19 |
Business developments (Details
Business developments (Details 6) SFr in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2021CHF (SFr) | Mar. 31, 2021CHF (SFr) | Jun. 30, 2020CHF (SFr) | Jun. 30, 2021CHF (SFr) | Jun. 30, 2020CHF (SFr) | Jun. 30, 2021USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2020CHF (SFr) | |
Business developments [Line Items] | ||||||||
Other financial assets held at amortized cost | SFr 56 | SFr 4,434 | SFr 21 | SFr 4,490 | SFr 36 | |||
Trading revenues | 153 | 1,811 | 1,254 | 1,964 | 2,181 | |||
Total operating expenses | 4,315 | 3,937 | 4,347 | 8,252 | 8,354 | |||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 813 | (757) | SFr 1,551 | 56 | SFr 2,752 | |||
Loans | SFr 11,101 | 11,827 | 11,101 | SFr 11,408 | ||||
Archegos Capital Management [Member] | ||||||||
Business developments [Line Items] | ||||||||
Business development, Description | As previously reported, the Group recorded a provision for credit losses of CHF 4,430 million in 1Q21 in respect of the failure by Archegos to meet its margin commitments. Certain Group subsidiaries were notified by the fund that it would be unable to return margin advances previously extended and recognized as collateral receivable by the Group. Following the failure of the fund, the Group initiated the process of exiting the fund positions and that process is now complete. Losses related to the exiting of fund positions that were in excess of the margin advances previously extended and recognized as collateral receivable were included in trading revenues. The Group has incurred additional losses with regard to this matter in 2Q21 of CHF 594 million, consisting of CHF 493 million of trading losses as a result of market movements during the process of closing out the fund positions, a provision for credit losses of CHF 70 million and operating expenses of CHF 31 million mainly reflecting severance-related costs and professional services fees. | |||||||
Other financial assets held at amortized cost | SFr 70 | SFr 4,430 | SFr 4,500 | |||||
Trading revenues | 493 | |||||||
Total operating expenses | 31 | |||||||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | SFr 594 | |||||||
Greensill Capital [Member] | ||||||||
Business developments [Line Items] | ||||||||
Business development, Description | As previously reported, in early March 2021, the boards of four supply chain finance funds managed by certain Group subsidiaries (collectively, the SCFFs) decided to suspend redemptions and subscriptions of those funds, to protect the interests of the funds’ investors, to terminate the SCFFs and to proceed to their liquidation. Credit Suisse Asset Management (Schweiz) AG (CSAM) acts as the portfolio manager of the SCFFs. The assets held by the SCFFs largely consist of notes backed by existing and future receivables. These notes were originated and structured by Greensill Capital (UK) Limited or one of its affiliates (Greensill Capital). Greensill Capital filed for insolvency in the UK on March 8, 2021, and the portfolio manager is working closely with the administrators of Greensill Capital, Grant Thornton, and with other parties to facilitate the liquidation of the SCFFs. The last published net asset value of the SCFFs in late February 2021 was approximately USD 10 billion in the aggregate. To date, together with the cash already distributed to investors and cash remaining in the funds, total cash collected in the SCFFs amounts to approximately USD 6.6 billion including the cash position in the funds at the time of suspension. Redemption payments totaling approximately USD 5.5 billion have been made to their investors in three cash distributions, and a fourth cash distribution of approximately USD 0.4 billion, which would bring the total amount returned to investors to approximately USD 5.9 billion. The portfolio manager continues to work to liquidate the remaining assets of the SCFFs, including by engaging directly with potentially delinquent obligors and other creditors as appropriate. However, there remains considerable uncertainty regarding the valuation of a significant part of the remaining assets, including the fact that certain of the notes underlying the funds were not paid when they fell due and the portfolio manager has been informed that further notes will not be paid when they fall due in the future. It therefore can be assumed that the investors of the SCFFs will suffer a loss. CSAM intends to take all necessary steps to collect outstanding amounts from debtors and insurers, but can give no assurance as to the final amount that may be recovered for the SCFFs under such notes. The amount of loss of the investors therefore is currently unknown. Based on currently available information, losses for the investors can be expected to occur predominantly in positions that, prior to March 31, 2021, had a net asset value of approximately USD 2.3 billion in the aggregate. These positions relate primarily to three groups of companies: “GFG Alliance”, Katerra and Bluestone. For these three focus areas, more time is required to assess the situation accurately. CSAM continues to invest substantial efforts to maximize and expedite recovery in these positions, including pursuing consensual restructuring in addition to preparing insurance claims and seeking legal enforcement of the funds’ claims where appropriate. Given the complexity of the situation and negotiations, any predictions on recovery rates for these focus areas would be premature. The Group continues to analyze this matter, including with the assistance of external counsel and other experts. The Board has initiated an externally-led investigation of this matter, which is being supervised by a special committee of the Board. Redemptions and subscriptions of certain other funds managed by CSAM or CSAM subsidiaries that invested in part in the SCFFs were also suspended in early March 2021. The illiquid part of these funds’ assets was subsequently separated into a separate share class to allow for subscriptions and redemptions of the original share classes, reflecting the liquid part of the funds’ assets, to resume as of April 7, 2021. The separate share class reflecting the illiquid assets is in the process of being liquidated, and shareholders receive pro rata payments of the redemption proceeds. With respect to the Group’s outstanding collateralized bridge loan of USD 90 million to Greensill Capital, the Group has marked its fair value down to USD 56 million as of the end of 2Q21, down from USD 60 million as of the end of 1Q21. > Refer to “Risk factor” in I – Credit Suisse results – Credit Suisse in the Credit Suisse Financial Report 1Q21 for further information on risks that may arise in relation to this matter. | |||||||
Loans | $ | $ 56 | $ 60 | ||||||
Principal amount outstanding | $ | $ 90 |
Segment information - Income st
Segment information - Income statement related (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Segment Reporting Information | |||||
Net revenues | SFr 5,103 | SFr 7,574 | SFr 6,194 | SFr 12,677 | SFr 11,970 |
Income/(loss) before taxes | 813 | (757) | 1,551 | 56 | 2,752 |
Operating Segments [Member] | Swiss Universal Bank | |||||
Segment Reporting Information | |||||
Net revenues | 1,477 | 1,449 | 1,474 | 2,926 | 2,928 |
Income/(loss) before taxes | 725 | 665 | 656 | 1,390 | 1,187 |
Operating Segments [Member] | International Wealth Management | |||||
Segment Reporting Information | |||||
Net revenues | 930 | 987 | 905 | 1,917 | 1,937 |
Income/(loss) before taxes | 340 | 408 | 256 | 748 | 601 |
Operating Segments [Member] | Asia Pacific | |||||
Segment Reporting Information | |||||
Net revenues | 798 | 1,060 | 808 | 1,858 | 1,643 |
Income/(loss) before taxes | 250 | 524 | 196 | 774 | 414 |
Operating Segments [Member] | Investment Bank | |||||
Segment Reporting Information | |||||
Net revenues | 1,610 | 3,543 | 2,862 | 5,153 | 4,942 |
Income/(loss) before taxes | (76) | (2,467) | 912 | (2,543) | 995 |
Operating Segments [Member] | Asset Management | |||||
Segment Reporting Information | |||||
Net revenues | 404 | 386 | 361 | 790 | 806 |
Income/(loss) before taxes | 104 | 115 | 84 | 219 | 248 |
Corporate Center | |||||
Segment Reporting Information | |||||
Net revenues | (116) | 149 | (216) | 33 | (286) |
Income/(loss) before taxes | SFr (530) | SFr (2) | SFr (553) | (532) | (693) |
Bank | |||||
Segment Reporting Information | |||||
Net revenues | 12,882 | 12,015 | |||
Income/(loss) before taxes | 15 | 2,582 | |||
Bank | Operating Segments [Member] | Swiss Universal Bank | |||||
Segment Reporting Information | |||||
Net revenues | 2,926 | 2,928 | |||
Income/(loss) before taxes | 1,390 | 1,187 | |||
Bank | Operating Segments [Member] | International Wealth Management | |||||
Segment Reporting Information | |||||
Net revenues | 1,917 | 1,937 | |||
Income/(loss) before taxes | 748 | 601 | |||
Bank | Operating Segments [Member] | Asia Pacific | |||||
Segment Reporting Information | |||||
Net revenues | 1,858 | 1,643 | |||
Income/(loss) before taxes | 774 | 414 | |||
Bank | Operating Segments [Member] | Investment Bank | |||||
Segment Reporting Information | |||||
Net revenues | 5,153 | 4,942 | |||
Income/(loss) before taxes | (2,543) | 995 | |||
Bank | Operating Segments [Member] | Asset Management | |||||
Segment Reporting Information | |||||
Net revenues | 790 | 806 | |||
Income/(loss) before taxes | 219 | 248 | |||
Bank | Adjustments | |||||
Segment Reporting Information | |||||
Net revenues | 238 | (241) | |||
Income/(loss) before taxes | SFr (573) | SFr (863) |
Segment information - Balance s
Segment information - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Segment Reporting Information | |||
Total assets | SFr 796,799 | SFr 851,395 | SFr 805,822 |
Operating Segments | Swiss Universal Bank | |||
Segment Reporting Information | |||
Total assets | 265,801 | 269,089 | 261,465 |
Operating Segments | International Wealth Management | |||
Segment Reporting Information | |||
Total assets | 91,957 | 90,300 | 91,503 |
Operating Segments | Asia Pacific | |||
Segment Reporting Information | |||
Total assets | 70,569 | 74,878 | 67,356 |
Operating Segments | Investment Bank | |||
Segment Reporting Information | |||
Total assets | 248,775 | 292,843 | 270,488 |
Operating Segments | Asset Management | |||
Segment Reporting Information | |||
Total assets | 3,591 | 3,941 | 3,703 |
Corporate Center | |||
Segment Reporting Information | |||
Total assets | 116,106 | SFr 120,344 | 111,307 |
Bank | |||
Segment Reporting Information | |||
Total assets | 800,120 | 809,688 | |
Bank | Operating Segments | Swiss Universal Bank | |||
Segment Reporting Information | |||
Total assets | 265,801 | 261,465 | |
Bank | Operating Segments | International Wealth Management | |||
Segment Reporting Information | |||
Total assets | 91,957 | 91,503 | |
Bank | Operating Segments | Asia Pacific | |||
Segment Reporting Information | |||
Total assets | 70,569 | 67,356 | |
Bank | Operating Segments | Investment Bank | |||
Segment Reporting Information | |||
Total assets | 248,775 | 270,488 | |
Bank | Operating Segments | Asset Management | |||
Segment Reporting Information | |||
Total assets | 3,591 | 3,703 | |
Bank | Adjustments | |||
Segment Reporting Information | |||
Total assets | SFr 119,427 | SFr 115,173 |
Net interest income (Details)
Net interest income (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Net interest income | |||||
Loans | SFr 1,277 | SFr 1,265 | SFr 1,488 | SFr 2,542 | SFr 3,130 |
Investment securities | 0 | 0 | 2 | 0 | 3 |
Trading assets | 1,109 | 1,314 | 1,566 | 2,423 | 3,231 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 311 | 341 | 391 | 652 | 936 |
Other | 182 | 135 | 142 | 317 | 584 |
Interest and dividend income | 2,879 | 3,055 | 3,589 | 5,934 | 7,884 |
Deposits | (38) | (51) | (299) | (89) | (860) |
Short-term borrowings | (40) | (2) | (76) | (42) | (152) |
Trading liabilities | (453) | (468) | (717) | (921) | (1,473) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (209) | (276) | (211) | (485) | (505) |
Long-term debt | (660) | (543) | (657) | (1,203) | (1,541) |
Other | (63) | (61) | (59) | (124) | (249) |
Interest expense | (1,463) | (1,401) | (2,019) | (2,864) | (4,780) |
Net interest income | SFr 1,416 | SFr 1,654 | SFr 1,570 | 3,070 | 3,104 |
Bank | |||||
Net interest income | |||||
Loans | 2,514 | 3,113 | |||
Investment securities | 0 | 3 | |||
Trading assets | 2,424 | 3,231 | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 652 | 936 | |||
Other | 318 | 584 | |||
Interest and dividend income | 5,908 | 7,867 | |||
Deposits | (84) | (857) | |||
Short-term borrowings | 1 | (155) | |||
Trading liabilities | (921) | (1,473) | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (485) | (505) | |||
Long-term debt | (1,182) | (1,522) | |||
Other | (124) | (251) | |||
Interest expense | (2,795) | (4,763) | |||
Net interest income | SFr 3,113 | SFr 3,104 |
Commissions and fees (Details)
Commissions and fees (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Commissions and fees | |||||
Commissions and fees | SFr 3,158 | SFr 3,737 | SFr 2,880 | SFr 6,895 | SFr 5,807 |
Lending business | |||||
Commissions and fees | |||||
Commissions and fees | 484 | 516 | 361 | 1,000 | 797 |
Investment and portfolio management | |||||
Commissions and fees | |||||
Commissions and fees | 891 | 861 | 752 | 1,752 | 1,562 |
Other securities business | |||||
Commissions and fees | |||||
Commissions and fees | 15 | 13 | 18 | 28 | 36 |
Fiduciary business | |||||
Commissions and fees | |||||
Commissions and fees | 906 | 874 | 770 | 1,780 | 1,598 |
Underwriting | |||||
Commissions and fees | |||||
Commissions and fees | 626 | 989 | 560 | 1,615 | 924 |
Brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 694 | 909 | 806 | 1,603 | 1,773 |
Underwriting and brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 1,320 | 1,898 | 1,366 | 3,218 | 2,697 |
Other services | |||||
Commissions and fees | |||||
Commissions and fees | SFr 448 | SFr 449 | SFr 383 | 897 | 715 |
Bank | |||||
Commissions and fees | |||||
Commissions and fees | 6,926 | 5,816 | |||
Bank | Lending business | |||||
Commissions and fees | |||||
Commissions and fees | 997 | 786 | |||
Bank | Investment and portfolio management | |||||
Commissions and fees | |||||
Commissions and fees | 1,699 | 1,508 | |||
Bank | Other securities business | |||||
Commissions and fees | |||||
Commissions and fees | 29 | 40 | |||
Bank | Fiduciary business | |||||
Commissions and fees | |||||
Commissions and fees | 1,728 | 1,548 | |||
Bank | Underwriting | |||||
Commissions and fees | |||||
Commissions and fees | 1,664 | 981 | |||
Bank | Brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 1,624 | 1,774 | |||
Bank | Underwriting and brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 3,288 | 2,755 | |||
Bank | Other services | |||||
Commissions and fees | |||||
Commissions and fees | SFr 913 | SFr 727 |
Trading revenues (Details)
Trading revenues (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Trading revenues | |||||
Trading revenues | SFr 153 | SFr 1,811 | SFr 1,254 | SFr 1,964 | SFr 2,181 |
Interest rate products | |||||
Trading revenues | |||||
Trading revenues | 154 | 752 | 1,374 | 906 | (874) |
Foreign exchange products | |||||
Trading revenues | |||||
Trading revenues | 358 | 148 | 539 | 506 | 1,110 |
Equity/index-related products | |||||
Trading revenues | |||||
Trading revenues | (117) | 1,001 | (375) | 884 | (56) |
Credit products | |||||
Trading revenues | |||||
Trading revenues | (271) | (33) | (682) | (304) | 1,217 |
Commodity, emission and energy products | |||||
Trading revenues | |||||
Trading revenues | (7) | 9 | 69 | 2 | 97 |
Other trading securities | |||||
Trading revenues | |||||
Trading revenues | SFr 36 | SFr (66) | SFr 329 | (30) | 687 |
Bank | |||||
Trading revenues | |||||
Trading revenues | 1,924 | 2,105 | |||
Bank | Interest rate products | |||||
Trading revenues | |||||
Trading revenues | 893 | (921) | |||
Bank | Foreign exchange products | |||||
Trading revenues | |||||
Trading revenues | 497 | 1,113 | |||
Bank | Equity/index-related products | |||||
Trading revenues | |||||
Trading revenues | 868 | (88) | |||
Bank | Credit products | |||||
Trading revenues | |||||
Trading revenues | (304) | 1,217 | |||
Bank | Commodity, emission and energy products | |||||
Trading revenues | |||||
Trading revenues | 2 | 97 | |||
Bank | Other trading securities | |||||
Trading revenues | |||||
Trading revenues | SFr (32) | SFr 687 |
Other revenues (Details)
Other revenues (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Other Revenues | |||||
Noncontrolling interests without SEI | SFr 4 | SFr (1) | SFr 0 | SFr 3 | SFr 0 |
Loans held-for-sale | (58) | (41) | 5 | (99) | (16) |
Long-lived assets held-for-sale | 3 | (2) | 6 | 1 | 10 |
Equity method investments | 55 | 29 | 23 | 84 | 59 |
Other investments | 131 | 199 | 223 | 330 | 451 |
Other | 241 | 188 | 233 | 429 | 374 |
Other revenues | SFr 376 | SFr 372 | SFr 490 | 748 | 878 |
Bank | |||||
Other Revenues | |||||
Loans held-for-sale | (99) | (16) | |||
Long-lived assets held-for-sale | 1 | 10 | |||
Equity method investments | 84 | 58 | |||
Other investments | 332 | 451 | |||
Other | 601 | 487 | |||
Other revenues | SFr 919 | SFr 990 |
Provision for credit losses (De
Provision for credit losses (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Provision for credit losses | |||||
Loans held at amortized cost | SFr (28) | SFr (24) | SFr 264 | SFr (52) | SFr 691 |
Other financial assets held at amortized cost | 56 | 4,434 | 21 | 4,490 | 36 |
Off-balance sheet credit exposures | (53) | (16) | 11 | (69) | 137 |
Provision for credit losses | (25) | 4,394 | SFr 296 | 4,369 | 864 |
Archegos Capital Management [Member] | |||||
Provision for credit losses | |||||
Other financial assets held at amortized cost | SFr 70 | SFr 4,430 | 4,500 | ||
Bank | |||||
Provision for credit losses | |||||
Loans held at amortized cost | (52) | 691 | |||
Other financial assets held at amortized cost | 4,494 | 32 | |||
Off-balance sheet credit exposures | (69) | 137 | |||
Provision for credit losses | 4,373 | SFr 860 | |||
Bank | Archegos Capital Management [Member] | |||||
Provision for credit losses | |||||
Other financial assets held at amortized cost | SFr 4,500 |
Compensation and benefits (Deta
Compensation and benefits (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Compensation and benefits | |||||
Salaries and variable compensation | SFr 1,997 | SFr 1,849 | SFr 2,234 | SFr 3,846 | SFr 4,143 |
Social security | 166 | 158 | 172 | 324 | 340 |
Other | 193 | 200 | 188 | 393 | 427 |
Compensation and benefits | 2,356 | 2,207 | 2,594 | 4,563 | 4,910 |
Defined Benefit Plan, Service Cost | 60 | 60 | 55 | 120 | 109 |
Defined benefit and defined contribution | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | SFr 120 | SFr 130 | SFr 113 | 250 | 263 |
Bank | |||||
Compensation and benefits | |||||
Salaries and variable compensation | 3,449 | 3,711 | |||
Social security | 278 | 293 | |||
Other | 369 | 416 | |||
Compensation and benefits | 4,096 | 4,420 | |||
Bank | Defined benefit and defined contribution | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | 250 | 272 | |||
Bank | International | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | SFr 7 | 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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
General and Administrative Expenses | |||||
Occupancy expenses | SFr 231 | SFr 263 | SFr 237 | SFr 494 | SFr 465 |
IT, machinery, etc. | 383 | 373 | 357 | 756 | 707 |
Provisions and losses | 273 | 57 | 133 | 330 | 205 |
Travel and entertainment | 32 | 29 | 28 | 61 | 96 |
Professional services | 454 | 373 | 377 | 827 | 752 |
Amortization and impairment of other intangible assets | 2 | 2 | 1 | 4 | 3 |
Other | 214 | 279 | 307 | 493 | 558 |
General and administrative expenses | 1,589 | 1,376 | 1,440 | 2,965 | 2,786 |
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | SFr (42) | SFr (52) | SFr (40) | (94) | (80) |
Bank | |||||
General and Administrative Expenses | |||||
Occupancy expenses | 449 | 415 | |||
IT, machinery, etc. | 597 | 561 | |||
Provisions and losses | 330 | 203 | |||
Travel and entertainment | 52 | 85 | |||
Professional services | 1,609 | 1,481 | |||
Amortization and impairment of other intangible assets | 4 | 3 | |||
Other | 623 | 747 | |||
General and administrative expenses | 3,664 | 3,495 | |||
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | SFr (10) | SFr 1 |
Restructuring expenses (Details
Restructuring expenses (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2021 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring expenses | SFr 45 | SFr 25 | SFr 70 |
General and Administrative Expense [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring expenses | 43 | 14 | 57 |
Compensation and benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring expenses | 2 | 11 | 13 |
of which severance | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring expenses | (1) | 7 | 6 |
of which accelerated deferred compensation | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring expenses | SFr 3 | SFr 4 | 7 |
Bank | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring expenses | 80 | ||
Bank | General and Administrative Expense [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring expenses | 66 | ||
Bank | Compensation and benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring expenses | 14 | ||
Bank | of which severance | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring expenses | 7 | ||
Bank | of which accelerated deferred compensation | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring expenses | SFr 7 |
Restructuring provision - Rollf
Restructuring provision - Rollforward (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2021 | |
Restructuring provision | |||
Restructuring Reserve, Beginning Balance | SFr 42 | SFr 52 | SFr 52 |
Restructuring expenses | 45 | 25 | 70 |
Utilization | 42 | 27 | |
Restructuring Reserve, Ending Balance | 25 | 42 | 25 |
General and Administrative Expense [Member] | |||
Restructuring provision | |||
Restructuring Reserve, Beginning Balance | 3 | 2 | 2 |
Restructuring expenses | 43 | 14 | 57 |
Utilization | 26 | 9 | |
Restructuring Reserve, Ending Balance | 3 | 3 | 3 |
Compensation and benefits | |||
Restructuring provision | |||
Restructuring Reserve, Beginning Balance | 39 | 50 | 50 |
Restructuring expenses | (1) | 7 | 6 |
Utilization | 16 | 18 | |
Restructuring Reserve, Ending Balance | 22 | 39 | 22 |
Unsettled share-based compensation obligations classified as a component of total shareholders equity | |||
Restructuring provision | |||
Restructuring expenses | 1 | 1 | 2 |
Unsettled cash-based compensation obligations classified as compensation liabilities | |||
Restructuring provision | |||
Restructuring expenses | 2 | 3 | 5 |
Unsettled pension obligation classified as pension liabilities | |||
Restructuring provision | |||
Restructuring expenses | (4) | (7) | (11) |
Excluding unsettled compensation, pension obligations and accelerated accumulated depreciation | |||
Restructuring provision | |||
Restructuring expenses | 25 | 17 | |
General and Administrative Expense, Excluding accelerated accumulated depreciation and pension obligations [Member] | |||
Restructuring provision | |||
Restructuring expenses | 26 | 10 | |
Accelerated accumulated depreciation | |||
Restructuring provision | |||
Restructuring expenses | 21 | 11 | 32 |
Bank | |||
Restructuring provision | |||
Restructuring Reserve, Beginning Balance | SFr 49 | 49 | |
Restructuring expenses | 80 | ||
Utilization | 61 | ||
Restructuring Reserve, Ending Balance | 25 | SFr 25 | |
Bank | Stock compensation plan | Share awards | |||
Restructuring provision | |||
Vesting period | 3 years | ||
Bank | General and Administrative Expense [Member] | |||
Restructuring provision | |||
Restructuring expenses | SFr 66 | ||
Utilization | 29 | ||
Restructuring Reserve, Ending Balance | 3 | 3 | |
Bank | Compensation and benefits | |||
Restructuring provision | |||
Restructuring expenses | 7 | ||
Utilization | 32 | ||
Restructuring Reserve, Ending Balance | SFr 22 | 22 | |
Bank | Unsettled share-based compensation obligations classified as a component of total shareholders equity | |||
Restructuring provision | |||
Restructuring expenses | 2 | ||
Bank | Unsettled cash-based compensation obligations classified as compensation liabilities | |||
Restructuring provision | |||
Restructuring expenses | 5 | ||
Bank | Excluding unsettled compensation, pension obligations and accelerated accumulated depreciation | |||
Restructuring provision | |||
Restructuring expenses | 37 | ||
Bank | General and Administrative Expense, Excluding accelerated accumulated depreciation and pension obligations [Member] | |||
Restructuring provision | |||
Restructuring expenses | 30 | ||
Bank | Accelerated accumulated depreciation | |||
Restructuring provision | |||
Restructuring expenses | SFr 32 |
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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Net income/(loss) attributable to shareholders | |||||
Net income/(loss) attributable to shareholders | SFr 253 | SFr (252) | SFr 1,162 | SFr 1 | SFr 2,476 |
Net income attributable to shareholders for basic earnings per share | 253 | (252) | 1,162 | 1 | 2,476 |
Available for common shares | 252 | (252) | 1,162 | 1 | 2,476 |
Available for mandatory convertible securities | 1 | ||||
Net income/(loss) attributable to shareholders for diluted earnings per share | 253 | (252) | 1,162 | 1 | 2,476 |
Available for common shares | 252 | SFr (252) | SFr 1,162 | SFr 1 | SFr 2,476 |
Net Income (Loss) Available to Common Stockholders, Diluted, Available for mandatory convertible securities | SFr 1 | ||||
Weighted-average shares outstanding | |||||
Weighted-average shares outstanding for basic earnings per share available for common shares (in shares) | 2,453.9 | 2,446.6 | 2,473.6 | 2,450.3 | 2,469.7 |
Dilutive share options and warrants (in shares) | 0.8 | 0 | 2.6 | 0.6 | 2.1 |
Dilutive share awards (in shares) | 55.1 | 0 | 35.2 | 73.6 | 47.7 |
Weighted-average shares outstanding for diluted earnings per share available for common shares (in shares) | 2,509.8 | 2,446.6 | 2,511.4 | 2,524.5 | 2,519.5 |
Weighted-average shares outstanding for basic/diluted earnings per share available for mandatory convertible securities | 130.8 | 65.4 | |||
Basic earnings per share available for common shares (CHF) | |||||
Basic earnings/(loss) per share (in CHF per share) | SFr 0.10 | SFr (0.10) | SFr 0.47 | SFr 0 | SFr 1 |
Diluted earnings per share available for common shares (CHF) | |||||
Diluted earnings/(loss) per share (in CHF per share) | SFr 0.10 | SFr (0.10) | SFr 0.46 | SFr 0 | SFr 0.98 |
Weighted-average potential dilutive common shares | 9.6 | 6.5 | 5.3 | 8.1 | 4.8 |
Weighted-average share options and warrants (antidilutive) | 0.4 | ||||
Weighted-average share awards (antidilutive) | 92 |
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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 2,670 | SFr 3,219 | SFr 2,522 | SFr 5,889 | SFr 5,017 |
Other securities business [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 15 | 13 | 18 | 28 | 36 |
Underwriting [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 626 | 989 | 560 | 1,615 | 924 |
Brokerage [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 693 | 908 | 805 | 1,601 | 1,771 |
Investment Advice [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 891 | 861 | 752 | 1,752 | 1,562 |
Service, Other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 445 | SFr 448 | SFr 387 | 893 | 724 |
Bank | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 5,952 | 5,075 | |||
Bank | Other securities business [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 29 | 40 | |||
Bank | Underwriting [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 1,664 | 981 | |||
Bank | Brokerage [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 1,623 | 1,772 | |||
Bank | Investment Advice [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 1,699 | 1,508 | |||
Bank | Service, Other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 937 | SFr 774 |
Revenue from contracts with c_4
Revenue from contracts with customers (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | |||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | |
Contract balances [Line Items] | ||||||
Accounts Receivable, Net | SFr 1,011 | SFr 1,120 | SFr 1,001 | |||
Contract with Customer, Liability | 52 | 65 | 48 | |||
Contract with Customer, Liability, Revenue Recognized | 18 | SFr 8 | 7 | |||
Bank | ||||||
Contract balances [Line Items] | ||||||
Accounts Receivable, Net | 1,032 | 993 | SFr 1,123 | |||
Contract with Customer, Liability | SFr 52 | 48 | SFr 65 | |||
Contract with Customer, Liability, Revenue Recognized | SFr 18 | SFr 8 | SFr 7 |
Securities borrowed, lent and s
Securities borrowed, lent and subject to repurchase agreements (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Securities borrowed or purchased under agreements to resell | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions, total | SFr 94,645 | SFr 91,121 | SFr 79,133 |
Securities lent or sold under agreements to repurchase | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions, total | 20,924 | SFr 22,853 | 23,851 |
Bank | |||
Securities borrowed or purchased under agreements to resell | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions, total | 94,645 | 79,133 | |
Securities lent or sold under agreements to repurchase | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions, total | SFr 21,020 | SFr 23,944 |
Trading assets and liabilitie_2
Trading assets and liabilities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Trading Assets and Liabilities | |||
Trading assets | SFr 130,505 | SFr 157,139 | SFr 157,338 |
Trading liabilities | 32,972 | 47,740 | 45,871 |
Debt securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 57,620 | 64,128 | 64,395 |
Equity securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 44,226 | 60,340 | 63,237 |
Derivative instruments | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 24,156 | 28,638 | 25,531 |
Trading liabilities | 12,603 | 16,414 | 17,745 |
Other trading securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 4,503 | 4,033 | 4,175 |
Short positions | |||
Schedule of Trading Assets and Liabilities | |||
Trading liabilities | 20,369 | SFr 31,326 | 28,126 |
Bank | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 130,684 | 157,511 | |
Trading liabilities | 32,971 | 45,871 | |
Bank | Debt securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 57,739 | 64,532 | |
Bank | Equity securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 44,287 | 63,273 | |
Bank | Derivative instruments | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 24,155 | 25,531 | |
Trading liabilities | 12,602 | 17,745 | |
Bank | Other trading securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 4,503 | 4,175 | |
Bank | Short positions | |||
Schedule of Trading Assets and Liabilities | |||
Trading liabilities | SFr 20,369 | SFr 28,126 |
Trading assets and liabilitie_3
Trading assets and liabilities - Cash collateral - netted (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Cash collateral - netted | |||
Cash collateral paid | SFr 21,161 | SFr 24,630 | SFr 26,815 |
Cash collateral received | 13,865 | 13,966 | 16,795 |
Cash collateral - not netted | |||
Cash collateral paid | 7,664 | 8,817 | 7,741 |
Cash collateral received | 7,200 | SFr 8,839 | 7,831 |
Bank | |||
Cash collateral - netted | |||
Cash collateral paid | 21,162 | 26,885 | |
Cash collateral received | 13,865 | 16,795 | |
Cash collateral - not netted | |||
Cash collateral paid | 7,664 | 7,741 | |
Cash collateral received | SFr 7,209 | SFr 7,831 |
Investment securities (Details)
Investment securities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Investment securities disclosures | |||
Available-for-sale Securities, Debt Securities | SFr 794 | SFr 614 | SFr 607 |
Total investment securities | 794 | SFr 614 | 607 |
Bank | |||
Investment securities disclosures | |||
Available-for-sale Securities, Debt Securities | 792 | 605 | |
Total investment securities | SFr 792 | SFr 605 |
Investment securities by type (
Investment securities by type (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Available-for-sale securities | |||
Amortized cost, Debt Securities | SFr 596 | ||
Amortized cost, before allowance for credit losses, Debt Securities | SFr 791 | ||
Debt Securities, Available-for-sale, Allowance for Credit Loss | 0 | ||
Gross unrealized gains, Debt securities | 4 | 11 | |
Gross unrealized losses, Debt securities | 1 | 0 | |
Fair value, Debt securities | 794 | SFr 614 | 607 |
Debt securities issued by the Swiss federal, cantonal or local government entities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 3 | ||
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 | 3 | |
Debt securities issued by foreign governments | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 0 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 32 | ||
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 32 | 0 | |
Corporate debt securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 593 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 757 | ||
Gross unrealized gains, Debt securities | 4 | 11 | |
Gross unrealized losses, Debt securities | 1 | 0 | |
Fair value, Debt securities | 760 | 604 | |
Bank | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 595 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 789 | ||
Debt Securities, Available-for-sale, Allowance for Credit Loss | 0 | ||
Gross unrealized gains, Debt securities | 4 | 10 | |
Gross unrealized losses, Debt securities | 1 | 0 | |
Fair value, Debt securities | 792 | 605 | |
Bank | Debt securities issued by the Swiss federal, cantonal or local government entities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 1 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 0 | ||
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 0 | 1 | |
Bank | Debt securities issued by foreign governments | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 0 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 32 | ||
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 32 | 0 | |
Bank | Corporate debt securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 594 | ||
Amortized cost, before allowance for credit losses, Debt Securities | 757 | ||
Gross unrealized gains, Debt securities | 4 | 10 | |
Gross unrealized losses, Debt securities | 1 | 0 | |
Fair value, Debt securities | SFr 760 | SFr 604 |
Investment securities - Proceed
Investment securities - Proceeds/realized gains/losses (Details 4) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | SFr 0 | SFr 626 |
Realized gains | 0 | 42 |
Bank | ||
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | 0 | 626 |
Realized gains | SFr 0 | SFr 42 |
Investment securities - Maturit
Investment securities - Maturities of amortized costs/FV/Avg yield (Details 6) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale [Line Items] | |||
Due within 1 year, amortized cost | SFr 174 | ||
Due from 1 to 5 years, amortized cost | 2 | ||
Due from 5 to 10 years, amortized cost | 615 | ||
Total, amortized cost | SFr 596 | ||
Total, amortized cost, before allowance for credit losses | 791 | ||
Due within 1 year, fair value | 174 | ||
Due from 1 to 5 years, fair value | 2 | ||
Due from 5 to 10 years, fair value | 618 | ||
Total, fair value | SFr 794 | SFr 614 | 607 |
Due within 1 year, average yield (as a percent) | 0.03% | ||
Due from 1 to 5 years, average yield (as a percent) | 3.81% | ||
Due from 5 to 10 years, average yield (as a percent) | 0.02% | ||
Total, average yield (as a percent) | 0.03% | ||
Bank | |||
Debt Securities, Available-for-sale [Line Items] | |||
Due within 1 year, amortized cost | SFr 174 | ||
Due from 5 to 10 years, amortized cost | 615 | ||
Total, amortized cost | 595 | ||
Total, amortized cost, before allowance for credit losses | 789 | ||
Due within 1 year, fair value | 174 | ||
Due from 5 to 10 years, fair value | 618 | ||
Total, fair value | SFr 792 | SFr 605 | |
Due within 1 year, average yield (as a percent) | 0.03% | ||
Due from 5 to 10 years, average yield (as a percent) | 0.02% | ||
Total, average yield (as a percent) | 0.02% |
Other investments (Details)
Other investments (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Other investments | ||||||
Other investments | SFr 4,578 | SFr 5,640 | SFr 5,412 | SFr 4,578 | ||
Accumulated depreciation, real estate held for investment | 32 | 34 | 35 | 32 | ||
Impairment charges | 0 | 0 | 0 | SFr 1 | 0 | SFr 1 |
Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 10 | 11 | 16 | 10 | ||
Equity method investments | ||||||
Other investments | ||||||
Other investments | 1,757 | 2,812 | 2,631 | 1,757 | ||
Equity securities (without a readily determinable fair value) | ||||||
Other investments | ||||||
Other investments | 1,867 | 1,834 | 1,779 | 1,867 | ||
of which at net asset value | ||||||
Other investments | ||||||
Other investments | 122 | 114 | 113 | 122 | ||
of which at measurement alternative | ||||||
Other investments | ||||||
Other investments | 355 | 367 | 359 | 355 | ||
of which at fair value | ||||||
Other investments | ||||||
Other investments | 1,343 | 1,321 | 1,278 | 1,343 | ||
of which at cost less impairment | ||||||
Other investments | ||||||
Other investments | 47 | 32 | 29 | 47 | ||
Real estate held for investment | ||||||
Other investments | ||||||
Other investments | 77 | 78 | 82 | 77 | ||
Real estate held for investment | Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 8 | 8 | 13 | 8 | ||
Life finance instruments | ||||||
Other investments | ||||||
Other investments | 877 | SFr 916 | 920 | 877 | ||
Bank | ||||||
Other investments | ||||||
Other investments | 4,543 | 5,379 | 4,543 | |||
Accumulated depreciation, real estate held for investment | 28 | 31 | 28 | |||
Impairment charges | 0 | SFr 1 | ||||
Bank | Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 10 | 16 | 10 | |||
Bank | Equity method investments | ||||||
Other investments | ||||||
Other investments | 1,750 | 2,624 | 1,750 | |||
Bank | Equity securities (without a readily determinable fair value) | ||||||
Other investments | ||||||
Other investments | 1,864 | 1,776 | 1,864 | |||
Bank | of which at net asset value | ||||||
Other investments | ||||||
Other investments | 122 | 111 | 122 | |||
Bank | of which at measurement alternative | ||||||
Other investments | ||||||
Other investments | 353 | 357 | 353 | |||
Bank | of which at fair value | ||||||
Other investments | ||||||
Other investments | 1,342 | 1,278 | 1,342 | |||
Bank | of which at cost less impairment | ||||||
Other investments | ||||||
Other investments | 47 | 30 | 47 | |||
Bank | Real estate held for investment | ||||||
Other investments | ||||||
Other investments | 52 | 59 | 52 | |||
Bank | Real estate held for investment | Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 8 | 13 | 8 | |||
Bank | Life finance instruments | ||||||
Other investments | ||||||
Other investments | SFr 877 | SFr 920 | SFr 877 |
Other investments (Details 2)
Other investments (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Other investments | |||||
Impairments and downward adjustments | SFr (30) | SFr (30) | |||
Impairments and downward adjustments, Annual Amount | (5) | SFr (3) | |||
Upward adjustments | 137 | 137 | |||
Upward adjustments, Annual Amount | 0 | 137 | |||
Other Revenue, Other Investments | 131 | SFr 199 | SFr 223 | 330 | 451 |
Bank | |||||
Other investments | |||||
Impairments and downward adjustments | (30) | (30) | |||
Impairments and downward adjustments, Annual Amount | (5) | (3) | |||
Upward adjustments | SFr 137 | 137 | |||
Upward adjustments, Annual Amount | 0 | 137 | |||
Other Revenue, Other Investments | SFr 332 | SFr 451 |
Loans, allowance for loan los_3
Loans, allowance for loan losses and credit quality (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Loans | ||||||
Gross loans | SFr 301,350 | SFr 305,819 | SFr 293,539 | |||
of which held at amortized cost | 290,249 | 293,992 | 282,131 | |||
of which held at fair value | 11,101 | 11,827 | 11,408 | |||
Net (unearned income)/deferred expenses | (94) | (104) | (95) | |||
Allowance for credit losses | (1,412) | (1,527) | (1,536) | SFr (1,669) | SFr (1,431) | SFr (1,049) |
Net loans | 299,844 | 304,188 | 291,908 | |||
Non-performing loans | 1,896 | 1,809 | 1,666 | |||
Non-interest-earning loans | 383 | 380 | 375 | |||
Non-accrual loans | 2,279 | 2,189 | 2,041 | 2,274 | 1,510 | |
Restructured loans | 471 | 472 | 313 | |||
Potential problem loans | 406 | 512 | 843 | |||
Total other impaired loans | 877 | 984 | 1,156 | |||
Gross impaired loans | 3,156 | 3,173 | 3,197 | |||
Consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process | 181 | 176 | 180 | |||
Switzerland | ||||||
Loans | ||||||
Gross loans | 170,902 | 171,126 | 168,589 | |||
Foreign | ||||||
Loans | ||||||
Gross loans | 130,448 | 134,693 | 124,950 | |||
Corporate and institutional | ||||||
Loans | ||||||
Gross loans | 127,987 | 131,971 | 125,592 | |||
of which held at amortized cost | 117,003 | 114,269 | ||||
Allowance for credit losses | (1,067) | (1,198) | (1,218) | (1,270) | (1,082) | (808) |
Non-accrual loans | 1,166 | 1,317 | 1,313 | 883 | ||
Corporate and institutional | Real estate | ||||||
Loans | ||||||
Gross loans | 29,464 | 30,320 | 29,045 | |||
of which held at amortized cost | 28,562 | 28,211 | ||||
Non-accrual loans | 293 | 324 | 270 | 155 | ||
Corporate and institutional | Commercial and industrial loans | ||||||
Loans | ||||||
Gross loans | 73,923 | 76,528 | 74,097 | |||
of which held at amortized cost | 70,798 | 70,563 | ||||
Non-accrual loans | 790 | 925 | 978 | 682 | ||
Corporate and institutional | Financial institutions | ||||||
Loans | ||||||
Gross loans | 21,016 | 21,353 | 19,072 | |||
of which held at amortized cost | 16,416 | 14,485 | ||||
Non-accrual loans | 63 | 68 | 65 | 46 | ||
Corporate and institutional | Governments and public institutions | ||||||
Loans | ||||||
Gross loans | 3,584 | 3,770 | 3,378 | |||
of which held at amortized cost | 1,227 | 1,010 | ||||
Non-accrual loans | 20 | 0 | 0 | 0 | ||
Consumer | ||||||
Loans | ||||||
Gross loans | 173,363 | 173,848 | 167,947 | |||
of which held at amortized cost | 173,246 | 167,862 | ||||
Allowance for credit losses | (345) | (329) | (318) | (399) | SFr (349) | (241) |
Non-accrual loans | 1,113 | 724 | 961 | 627 | ||
Consumer | Mortgages | ||||||
Loans | ||||||
Gross loans | 112,223 | 111,678 | 111,270 | |||
of which held at amortized cost | 112,223 | 111,270 | ||||
Non-accrual loans | 615 | 418 | 380 | 337 | ||
Consumer | Loans collateralized by securities | ||||||
Loans | ||||||
Gross loans | 54,573 | 56,281 | 51,789 | |||
of which held at amortized cost | 54,573 | 51,789 | ||||
Non-accrual loans | 298 | 105 | 377 | 122 | ||
Consumer | Consumer finance | ||||||
Loans | ||||||
Gross loans | 6,567 | SFr 5,889 | 4,888 | |||
of which held at amortized cost | 6,450 | 4,803 | ||||
Non-accrual loans | 200 | 201 | 204 | 168 | ||
Bank | ||||||
Loans | ||||||
Gross loans | 309,664 | 301,971 | ||||
of which held at amortized cost | 298,563 | 290,563 | ||||
of which held at fair value | 11,101 | 11,408 | ||||
Net (unearned income)/deferred expenses | (94) | (95) | ||||
Allowance for credit losses | (1,411) | (1,535) | (1,668) | (1,048) | ||
Net loans | 308,159 | 300,341 | ||||
Non-performing loans | 1,896 | 1,666 | ||||
Non-interest-earning loans | 371 | 363 | ||||
Non-accrual loans | 2,267 | 2,029 | 2,262 | 1,498 | ||
Restructured loans | 471 | 313 | ||||
Potential problem loans | 406 | 843 | ||||
Total other impaired loans | 877 | 1,156 | ||||
Gross impaired loans | 3,144 | 3,185 | ||||
Consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process | 181 | 180 | ||||
Bank | Switzerland | ||||||
Loans | ||||||
Gross loans | 178,458 | 176,312 | ||||
Bank | Foreign | ||||||
Loans | ||||||
Gross loans | 131,206 | 125,659 | ||||
Bank | Corporate and institutional | ||||||
Loans | ||||||
Gross loans | 136,301 | 134,024 | ||||
of which held at amortized cost | 116,991 | 114,257 | ||||
Allowance for credit losses | (1,066) | (1,217) | (1,269) | (807) | ||
Non-accrual loans | 1,154 | 1,305 | 1,301 | 871 | ||
Bank | Corporate and institutional | Real estate | ||||||
Loans | ||||||
Gross loans | 29,464 | 29,045 | ||||
of which held at amortized cost | 28,562 | 28,211 | ||||
Non-accrual loans | 293 | 324 | 270 | 155 | ||
Bank | Corporate and institutional | Commercial and industrial loans | ||||||
Loans | ||||||
Gross loans | 74,570 | 74,700 | ||||
of which held at amortized cost | 70,786 | 70,551 | ||||
Non-accrual loans | 778 | 913 | 966 | 670 | ||
Bank | Corporate and institutional | Financial institutions | ||||||
Loans | ||||||
Gross loans | 28,683 | 26,901 | ||||
of which held at amortized cost | 16,416 | 14,485 | ||||
Non-accrual loans | 63 | 68 | 65 | 46 | ||
Bank | Corporate and institutional | Governments and public institutions | ||||||
Loans | ||||||
Gross loans | 3,584 | 3,378 | ||||
of which held at amortized cost | 1,227 | 1,010 | ||||
Non-accrual loans | 20 | 0 | 0 | 0 | ||
Bank | Consumer | ||||||
Loans | ||||||
Gross loans | 173,363 | 167,947 | ||||
of which held at amortized cost | 173,246 | 167,862 | ||||
Allowance for credit losses | (345) | (318) | (399) | (241) | ||
Non-accrual loans | 1,113 | 724 | 961 | 627 | ||
Bank | Consumer | Mortgages | ||||||
Loans | ||||||
Gross loans | 112,223 | 111,270 | ||||
of which held at amortized cost | 112,223 | 111,270 | ||||
Non-accrual loans | 615 | 418 | 380 | 337 | ||
Bank | Consumer | Loans collateralized by securities | ||||||
Loans | ||||||
Gross loans | 54,573 | 51,789 | ||||
of which held at amortized cost | 54,573 | 51,789 | ||||
Non-accrual loans | 298 | 105 | 377 | 122 | ||
Bank | Consumer | Consumer finance | ||||||
Loans | ||||||
Gross loans | 6,567 | 4,888 | ||||
of which held at amortized cost | 6,450 | 4,803 | ||||
Non-accrual loans | SFr 200 | SFr 201 | 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, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | 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 146,217 | SFr 138,593 | ||||
Cash and due from banks, Allowance for credit losses | 0 | (6) | ||||
Cash and due from banks, Net carrying value | 146,217 | 138,587 | ||||
Interest-bearing deposits with banks, Amortized cost basis | 1,313 | 1,303 | ||||
Interest-bearing deposits with banks, Allowance for credit losses | 0 | (5) | ||||
Interest-bearing deposits with banks, Net carrying value | 1,313 | 1,298 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Amortized cost basis | 25,180 | 21,139 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Allowance for credit losses | 0 | 0 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Net carrying value | 25,180 | 21,139 | ||||
Loans, Amortized cost basis | 290,155 | 282,036 | ||||
Allowance for credit losses | (1,412) | SFr (1,527) | (1,536) | SFr (1,669) | SFr (1,431) | SFr (1,049) |
Loans, Net carrying value | 288,743 | 280,500 | ||||
Brokerage receivables, Amortized cost basis | 37,501 | 35,942 | ||||
Brokerage receivables, Allowance for credit losses | (4,429) | (36) | (1) | |||
Brokerage receivables, Net carrying value | 33,072 | 35,941 | ||||
Other assets, Amortized cost basis | 14,147 | 15,394 | ||||
Other assets, Allowance for credit losses | (41) | SFr (4,447) | (43) | |||
Other assets, Net carrying value | 14,106 | 15,351 | ||||
Total, Amortized cost basis | 514,513 | 494,407 | ||||
Total, Allowance for credit losses | (5,882) | (1,591) | ||||
Total, Net carrying value | 508,631 | 492,816 | ||||
Bank | ||||||
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | ||||||
Cash and due from banks, Amortized cost basis | 145,226 | 137,683 | ||||
Cash and due from banks, Allowance for credit losses | 0 | (1) | ||||
Cash and due from banks, Net carrying value | 145,226 | 137,682 | ||||
Interest-bearing deposits with banks, Amortized cost basis | 1,245 | 1,235 | ||||
Interest-bearing deposits with banks, Allowance for credit losses | 0 | (5) | ||||
Interest-bearing deposits with banks, Net carrying value | 1,245 | 1,230 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Amortized cost basis | 25,180 | 21,139 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Allowance for credit losses | 0 | 0 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Net carrying value | 25,180 | 21,139 | ||||
Loans, Amortized cost basis | 298,469 | 290,468 | ||||
Allowance for credit losses | (1,411) | (1,535) | SFr (1,668) | SFr (1,048) | ||
Loans, Net carrying value | 297,058 | 288,933 | ||||
Brokerage receivables, Amortized cost basis | 37,503 | 35,944 | ||||
Brokerage receivables, Allowance for credit losses | (4,429) | (1) | ||||
Brokerage receivables, Net carrying value | 33,074 | 35,943 | ||||
Other assets, Amortized cost basis | 14,245 | 15,540 | ||||
Other assets, Allowance for credit losses | (39) | (41) | ||||
Other assets, Net carrying value | 14,206 | 15,499 | ||||
Total, Amortized cost basis | 521,868 | 502,009 | ||||
Total, Allowance for credit losses | (5,879) | (1,583) | ||||
Total, Net carrying value | SFr 515,989 | SFr 500,426 |
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, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | |||
Collateral Dependent Financial Assets, Collateral Coverage Ratio, Recovery Mgt Investment Bank/Asia Pacific | 95.00% | 86.00% | |
Collateral Dependent Financial Assets, Collateral Coverage Ratio, Recovery Mgt International Wealth Management | 84.00% | 87.00% | |
Collateral Dependent Financial Assets, Collateral Coverage Ratio, Recovery Mgt Swiss Universal Bank | 86.00% | 87.00% | |
Accrued interest excluded from amortized cost base of total Financial assets held-at-amortized cost, before allowance of credit losses | SFr 380 | SFr 351 | |
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 | 0 | |
Accrued interest excluded from amortized cost base of total Interest-bearing deposits with banks | SFr 1 | 1 | |
Interest Bearing Deposits Banks, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Accrued interest excluded from amortized cost base of total Securities purchased under resale agreements and securities borrowing transactions | SFr 1 | ||
Reverse Repos and Securities Borrowing, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Accrued interest excluded from amortized cost base of total Loans held at amortized cost | SFr 363 | 334 | |
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false] | true | ||
Accrued interest excluded from amortized cost base of total Brokerage receivables | SFr 15 | 16 | |
Brokerage receivables, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Financing Receivables,Accrued Interest on Nonaccrual Loans Included | SFr 89 | 88 | |
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 380 | 351 | |
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 | 0 | |
Accrued interest excluded from amortized cost base of total Interest-bearing deposits with banks | SFr 1 | 1 | |
Interest Bearing Deposits Banks, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Accrued interest excluded from amortized cost base of total Securities purchased under resale agreements and securities borrowing transactions | SFr 1 | ||
Reverse Repos and Securities Borrowing, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Accrued interest excluded from amortized cost base of total Loans held at amortized cost | SFr 363 | 334 | |
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false] | true | ||
Accrued interest excluded from amortized cost base of total Brokerage receivables | SFr 15 | 16 | |
Brokerage receivables, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Financing Receivables,Accrued Interest on Nonaccrual Loans Included | SFr 88 | SFr 87 |
CECL (Details 2)
CECL (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | SFr 1,527 | SFr 1,536 | SFr 1,431 | SFr 1,536 | SFr 1,049 |
Current-period provision for expected credit losses | (13) | (23) | 280 | (36) | 716 |
of which provisions for interest | 15 | 1 | 16 | 16 | 25 |
Gross write-offs | (90) | (38) | (36) | (128) | (83) |
Recoveries | 2 | 2 | 3 | 4 | 7 |
Net write-offs | (88) | (36) | (33) | (124) | (76) |
Foreign currency translation impact and other adjustments, net | (14) | 50 | (9) | 36 | (20) |
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,412 | 1,527 | 1,669 | 1,412 | 1,669 |
of which individually evaluated | 869 | 867 | 899 | 869 | 899 |
of which collectively evaluated | 543 | 660 | 770 | 543 | 770 |
Loans held at amortized cost | |||||
Purchases | 993 | 993 | 664 | 1,986 | 1,349 |
Reclassifications from loans held-for-sale | 0 | 13 | 4 | 13 | 4 |
Reclassifications to loans held-for-sale | 1,652 | 468 | 528 | 2,120 | 988 |
Sales | 1,633 | 374 | 558 | 2,007 | 980 |
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 | 1,198 | 1,218 | 1,082 | 1,218 | 808 |
Current-period provision for expected credit losses | (44) | (35) | 218 | (79) | 533 |
of which provisions for interest | 8 | 0 | 0 | 8 | 4 |
Gross write-offs | (77) | (24) | (24) | (101) | (59) |
Recoveries | 0 | 0 | 1 | 0 | 2 |
Net write-offs | (77) | (24) | (23) | (101) | (57) |
Foreign currency translation impact and other adjustments, net | (10) | 39 | (7) | 29 | (14) |
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,067 | 1,198 | 1,270 | 1,067 | 1,270 |
of which individually evaluated | 614 | 627 | 586 | 614 | 586 |
of which collectively evaluated | 453 | 571 | 684 | 453 | 684 |
Loans held at amortized cost | |||||
Purchases | 981 | 988 | 643 | 1,969 | 1,328 |
Reclassifications from loans held-for-sale | 0 | 13 | 4 | 13 | 4 |
Reclassifications to loans held-for-sale | 1,652 | 468 | 528 | 2,120 | 988 |
Sales | 1,633 | 374 | 558 | 2,007 | 980 |
Consumer | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 329 | 318 | 349 | 318 | 241 |
Current-period provision for expected credit losses | 31 | 12 | 62 | 43 | 183 |
of which provisions for interest | 7 | 1 | 16 | 8 | 21 |
Gross write-offs | (13) | (14) | (12) | (27) | (24) |
Recoveries | 2 | 2 | 2 | 4 | 5 |
Net write-offs | (11) | (12) | (10) | (23) | (19) |
Foreign currency translation impact and other adjustments, net | (4) | 11 | (2) | 7 | (6) |
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 345 | 329 | 399 | 345 | 399 |
of which individually evaluated | 255 | 240 | 313 | 255 | 313 |
of which collectively evaluated | 90 | 89 | 86 | 90 | 86 |
Loans held at amortized cost | |||||
Purchases | 12 | 5 | 21 | 17 | 21 |
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 |
Bank | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 1,535 | 1,535 | 1,048 | ||
Current-period provision for expected credit losses | (36) | 716 | |||
of which provisions for interest | 16 | 25 | |||
Gross write-offs | (128) | (83) | |||
Recoveries | 4 | 7 | |||
Net write-offs | (124) | (76) | |||
Foreign currency translation impact and other adjustments, net | 36 | (20) | |||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,411 | 1,668 | 1,411 | 1,668 | |
of which individually evaluated | 868 | 898 | 868 | 898 | |
of which collectively evaluated | 543 | 770 | 543 | 770 | |
Loans held at amortized cost | |||||
Purchases | 1,986 | 1,349 | |||
Reclassifications from loans held-for-sale | 13 | 4 | |||
Reclassifications to loans held-for-sale | 2,120 | 988 | |||
Sales | 2,007 | 980 | |||
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 | 1,217 | 1,217 | 807 | ||
Current-period provision for expected credit losses | (79) | 533 | |||
of which provisions for interest | 8 | 4 | |||
Gross write-offs | (101) | (59) | |||
Recoveries | 0 | 2 | |||
Net write-offs | (101) | (57) | |||
Foreign currency translation impact and other adjustments, net | 29 | (14) | |||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,066 | 1,269 | 1,066 | 1,269 | |
of which individually evaluated | 613 | 585 | 613 | 585 | |
of which collectively evaluated | 453 | 684 | 453 | 684 | |
Loans held at amortized cost | |||||
Purchases | 1,969 | 1,328 | |||
Reclassifications from loans held-for-sale | 13 | 4 | |||
Reclassifications to loans held-for-sale | 2,120 | 988 | |||
Sales | 2,007 | 980 | |||
Bank | Consumer | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | SFr 318 | 318 | 241 | ||
Current-period provision for expected credit losses | 43 | 183 | |||
of which provisions for interest | 8 | 21 | |||
Gross write-offs | (27) | (24) | |||
Recoveries | 4 | 5 | |||
Net write-offs | (23) | (19) | |||
Foreign currency translation impact and other adjustments, net | 7 | (6) | |||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 345 | 399 | 345 | 399 | |
of which individually evaluated | 255 | 313 | 255 | 313 | |
of which collectively evaluated | SFr 90 | SFr 86 | 90 | 86 | |
Loans held at amortized cost | |||||
Purchases | 17 | 21 | |||
Reclassifications from loans held-for-sale | 0 | 0 | |||
Reclassifications to loans held-for-sale | 0 | 0 | |||
Sales | SFr 0 | SFr 0 |
CECL (Details 4)
CECL (Details 4) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Beginning Balance | SFr 6 | SFr 6 | |||
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 5 | 5 | |||
Securities purchased under resale agreements and securities borrowing transactions, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 0 | 0 | |||
Brokerage receivables, held at amortized cost, Allowance for Credit Loss, Beginning Balance | SFr 36 | 1 | 1 | ||
Other assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 4,447 | 43 | 43 | ||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 4,488 | 55 | SFr 52 | 55 | SFr 45 |
Other financial assets, Current-period provision for expected credit losses | 56 | 4,434 | 21 | 4,490 | 36 |
Other financial assets, Gross write-offs | (4) | 0 | (1) | (4) | (9) |
Other financial assets, Recovery | 0 | 0 | 1 | 0 | 1 |
Other financial assets, Net write-offs | (4) | 0 | 0 | (4) | (8) |
Other financial assets, Foreign currency translation impact and other adjustments, net | (70) | (1) | (3) | (71) | (3) |
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
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 | 4,429 | 36 | 4,429 | ||
Other assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 41 | 4,447 | 41 | ||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 4,470 | 4,488 | 70 | 4,470 | 70 |
Other financial assets, individually evaluated | 4,450 | 4,449 | 20 | 4,450 | 20 |
Other financial assets, collectively evaluated | 20 | 39 | 50 | 20 | 50 |
Archegos Capital Management [Member] | |||||
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Other assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 4,394 | ||||
Other financial assets, Current-period provision for expected credit losses | 70 | 4,430 | 4,500 | ||
Other assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 4,394 | ||||
Bank | |||||
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 1 | 1 | |||
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 5 | 5 | |||
Securities purchased under resale agreements and securities borrowing transactions, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 0 | 0 | |||
Brokerage receivables, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 1 | 1 | |||
Other assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 41 | 41 | |||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | SFr 48 | 48 | 43 | ||
Other financial assets, Current-period provision for expected credit losses | 4,494 | 32 | |||
Other financial assets, Gross write-offs | (4) | (9) | |||
Other financial assets, Recovery | 0 | 1 | |||
Other financial assets, Net write-offs | (4) | (8) | |||
Other financial assets, Foreign currency translation impact and other adjustments, net | (70) | (4) | |||
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
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 | 4,429 | 4,429 | |||
Other assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 39 | 39 | |||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 4,468 | 63 | 4,468 | 63 | |
Other financial assets, individually evaluated | 4,448 | 19 | 4,448 | 19 | |
Other financial assets, collectively evaluated | SFr 20 | SFr 44 | 20 | SFr 44 | |
Bank | Archegos Capital Management [Member] | |||||
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Other financial assets, Current-period provision for expected credit losses | SFr 4,500 |
CECL (Details 6)
CECL (Details 6) SFr in Millions | 6 Months Ended | ||||
Jun. 30, 2021CHF (SFr)monthday | Jun. 30, 2020CHF (SFr) | Mar. 31, 2021CHF (SFr) | Dec. 31, 2020CHF (SFr) | Dec. 31, 2019CHF (SFr) | |
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | SFr 2,279 | SFr 2,274 | SFr 2,189 | SFr 2,041 | SFr 1,510 |
Interest income recognized | 20 | 28 | |||
Amortized cost of non-accrual assets with no specific allowance | SFr 244 | 185 | |||
Number of days of default on interest or principal considered to assess credit worthiness (in months) | month | 3 | ||||
Period of anticipated repayment after which loan is written down to net book value (in days) | day | 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 1,166 | 1,313 | 1,317 | 883 | |
Interest income recognized | 14 | 24 | |||
Amortized cost of non-accrual assets with no specific allowance | 76 | 86 | |||
Corporate and institutional | Real estate | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 293 | 270 | 324 | 155 | |
Interest income recognized | 6 | 3 | |||
Amortized cost of non-accrual assets with no specific allowance | 46 | 37 | |||
Corporate and institutional | Commercial and industrial loans | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 790 | 978 | 925 | 682 | |
Interest income recognized | 8 | 21 | |||
Amortized cost of non-accrual assets with no specific allowance | 30 | 41 | |||
Corporate and institutional | Financial institutions | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 63 | 65 | 68 | 46 | |
Interest income recognized | 0 | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 0 | 8 | |||
Corporate and institutional | Governments and public institutions | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 20 | 0 | 0 | 0 | |
Interest income recognized | 0 | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 0 | 0 | |||
Consumer | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 1,113 | 961 | 724 | 627 | |
Interest income recognized | 6 | 4 | |||
Amortized cost of non-accrual assets with no specific allowance | 168 | 99 | |||
Consumer | Mortgages | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 615 | 380 | 418 | 337 | |
Interest income recognized | 2 | 1 | |||
Amortized cost of non-accrual assets with no specific allowance | 167 | 20 | |||
Consumer | Loans collateralized by securities | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 298 | 377 | 105 | 122 | |
Interest income recognized | 3 | 3 | |||
Amortized cost of non-accrual assets with no specific allowance | 0 | 75 | |||
Consumer | Consumer finance | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 200 | 204 | 201 | 168 | |
Interest income recognized | 1 | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 1 | 4 | |||
Bank | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 2,267 | 2,262 | 2,029 | 1,498 | |
Interest income recognized | 20 | 28 | |||
Amortized cost of non-accrual assets with no specific allowance | 244 | 185 | |||
Bank | Corporate and institutional | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 1,154 | 1,301 | 1,305 | 871 | |
Interest income recognized | 14 | 24 | |||
Amortized cost of non-accrual assets with no specific allowance | 76 | 86 | |||
Bank | Corporate and institutional | Real estate | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 293 | 270 | 324 | 155 | |
Interest income recognized | 6 | 3 | |||
Amortized cost of non-accrual assets with no specific allowance | 46 | 37 | |||
Bank | Corporate and institutional | Commercial and industrial loans | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 778 | 966 | 913 | 670 | |
Interest income recognized | 8 | 21 | |||
Amortized cost of non-accrual assets with no specific allowance | 30 | 41 | |||
Bank | Corporate and institutional | Financial institutions | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 63 | 65 | 68 | 46 | |
Interest income recognized | 0 | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 0 | 8 | |||
Bank | Corporate and institutional | Governments and public institutions | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 20 | 0 | 0 | 0 | |
Interest income recognized | 0 | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 0 | 0 | |||
Bank | Consumer | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 1,113 | 961 | 724 | 627 | |
Interest income recognized | 6 | 4 | |||
Amortized cost of non-accrual assets with no specific allowance | 168 | 99 | |||
Bank | Consumer | Mortgages | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 615 | 380 | 418 | 337 | |
Interest income recognized | 2 | 1 | |||
Amortized cost of non-accrual assets with no specific allowance | 167 | 20 | |||
Bank | Consumer | Loans collateralized by securities | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 298 | 377 | 105 | 122 | |
Interest income recognized | 3 | 3 | |||
Amortized cost of non-accrual assets with no specific allowance | 0 | 75 | |||
Bank | Consumer | Consumer finance | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 200 | 204 | SFr 201 | SFr 168 | |
Interest income recognized | 1 | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | SFr 1 | SFr 4 |
CECL (Details 7)
CECL (Details 7) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | SFr 286,704 | SFr 279,186 | |
Gross loans held at amortized cost, past due | 3,545 | 2,945 | |
Total | 290,249 | SFr 293,992 | 282,131 |
Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,214 | 994 | |
Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 456 | 212 | |
Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 129 | 301 | |
Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,746 | 1,438 | |
Corporate and institutional | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 115,022 | 112,410 | |
Gross loans held at amortized cost, past due | 1,981 | 1,859 | |
Total | 117,003 | 114,269 | |
Corporate and institutional | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 566 | 758 | |
Corporate and institutional | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 358 | 76 | |
Corporate and institutional | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 53 | 220 | |
Corporate and institutional | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,004 | 805 | |
Corporate and institutional | Real estate | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 28,161 | 28,070 | |
Gross loans held at amortized cost, past due | 401 | 141 | |
Total | 28,562 | 28,211 | |
Corporate and institutional | Real estate | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 91 | 50 | |
Corporate and institutional | Real estate | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 122 | 3 | |
Corporate and institutional | Real estate | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 4 | 11 | |
Corporate and institutional | Real estate | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 184 | 77 | |
Corporate and institutional | Commercial and industrial loans | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 69,391 | 69,060 | |
Gross loans held at amortized cost, past due | 1,407 | 1,503 | |
Total | 70,798 | 70,563 | |
Corporate and institutional | Commercial and industrial loans | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 388 | 630 | |
Corporate and institutional | Commercial and industrial loans | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 236 | 54 | |
Corporate and institutional | Commercial and industrial loans | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 49 | 137 | |
Corporate and institutional | Commercial and industrial loans | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 734 | 682 | |
Corporate and institutional | Financial institutions | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 16,278 | 14,311 | |
Gross loans held at amortized cost, past due | 138 | 174 | |
Total | 16,416 | 14,485 | |
Corporate and institutional | Financial institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 72 | 41 | |
Corporate and institutional | Financial institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 15 | |
Corporate and institutional | Financial institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 72 | |
Corporate and institutional | Financial institutions | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 66 | 46 | |
Corporate and institutional | Governments and public institutions | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 1,192 | 969 | |
Gross loans held at amortized cost, past due | 35 | 41 | |
Total | 1,227 | 1,010 | |
Corporate and institutional | Governments and public institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 15 | 37 | |
Corporate and institutional | Governments and public institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 4 | |
Corporate and institutional | Governments and public institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, 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, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 20 | 0 | |
Consumer | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 171,682 | 166,776 | |
Gross loans held at amortized cost, past due | 1,564 | 1,086 | |
Total | 173,246 | 167,862 | |
Consumer | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 648 | 236 | |
Consumer | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 98 | 136 | |
Consumer | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 76 | 81 | |
Consumer | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 742 | 633 | |
Consumer | Mortgages | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 111,521 | 110,747 | |
Gross loans held at amortized cost, past due | 702 | 523 | |
Total | 112,223 | 111,270 | |
Consumer | Mortgages | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 167 | 63 | |
Consumer | Mortgages | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 45 | 68 | |
Consumer | Mortgages | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 27 | 34 | |
Consumer | Mortgages | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 463 | 358 | |
Consumer | Loans collateralized by securities | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 54,411 | 51,668 | |
Gross loans held at amortized cost, past due | 162 | 121 | |
Total | 54,573 | 51,789 | |
Consumer | Loans collateralized by securities | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 5 | 17 | |
Consumer | Loans collateralized by securities | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 38 | 0 | |
Consumer | Loans collateralized by securities | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1 | 0 | |
Consumer | Loans collateralized by securities | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 118 | 104 | |
Consumer | Consumer finance | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 5,750 | 4,361 | |
Gross loans held at amortized cost, past due | 700 | 442 | |
Total | 6,450 | 4,803 | |
Consumer | Consumer finance | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 476 | 156 | |
Consumer | Consumer finance | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 15 | 68 | |
Consumer | Consumer finance | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 48 | 47 | |
Consumer | Consumer finance | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 161 | 171 | |
Bank | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 295,029 | 287,630 | |
Gross loans held at amortized cost, past due | 3,534 | 2,933 | |
Total | 298,563 | 290,563 | |
Bank | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,214 | 994 | |
Bank | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 456 | 212 | |
Bank | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 129 | 301 | |
Bank | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,735 | 1,426 | |
Bank | Corporate and institutional | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 115,021 | 112,410 | |
Gross loans held at amortized cost, past due | 1,970 | 1,847 | |
Total | 116,991 | 114,257 | |
Bank | Corporate and institutional | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 566 | 758 | |
Bank | Corporate and institutional | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 358 | 76 | |
Bank | Corporate and institutional | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 53 | 220 | |
Bank | Corporate and institutional | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 993 | 793 | |
Bank | Corporate and institutional | Real estate | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 28,161 | 28,070 | |
Gross loans held at amortized cost, past due | 401 | 141 | |
Total | 28,562 | 28,211 | |
Bank | Corporate and institutional | Real estate | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 91 | 50 | |
Bank | Corporate and institutional | Real estate | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 122 | 3 | |
Bank | Corporate and institutional | Real estate | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 4 | 11 | |
Bank | Corporate and institutional | Real estate | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 184 | 77 | |
Bank | Corporate and institutional | Commercial and industrial loans | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 69,390 | 69,060 | |
Gross loans held at amortized cost, past due | 1,396 | 1,491 | |
Total | 70,786 | 70,551 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 388 | 630 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 236 | 54 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 49 | 137 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 723 | 670 | |
Bank | Corporate and institutional | Financial institutions | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 16,278 | 14,311 | |
Gross loans held at amortized cost, past due | 138 | 174 | |
Total | 16,416 | 14,485 | |
Bank | Corporate and institutional | Financial institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 72 | 41 | |
Bank | Corporate and institutional | Financial institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 15 | |
Bank | Corporate and institutional | Financial institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 72 | |
Bank | Corporate and institutional | Financial institutions | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 66 | 46 | |
Bank | Corporate and institutional | Governments and public institutions | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 1,192 | 969 | |
Gross loans held at amortized cost, past due | 35 | 41 | |
Total | 1,227 | 1,010 | |
Bank | Corporate and institutional | Governments and public institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 15 | 37 | |
Bank | Corporate and institutional | Governments and public institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 4 | |
Bank | Corporate and institutional | Governments and public institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, 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, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 20 | 0 | |
Bank | Consumer | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 171,682 | 166,776 | |
Gross loans held at amortized cost, past due | 1,564 | 1,086 | |
Total | 173,246 | 167,862 | |
Bank | Consumer | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 648 | 236 | |
Bank | Consumer | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 98 | 136 | |
Bank | Consumer | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 76 | 81 | |
Bank | Consumer | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 742 | 633 | |
Bank | Consumer | Mortgages | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 111,521 | 110,747 | |
Gross loans held at amortized cost, past due | 702 | 523 | |
Total | 112,223 | 111,270 | |
Bank | Consumer | Mortgages | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 167 | 63 | |
Bank | Consumer | Mortgages | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 45 | 68 | |
Bank | Consumer | Mortgages | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 27 | 34 | |
Bank | Consumer | Mortgages | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 463 | 358 | |
Bank | Consumer | Loans collateralized by securities | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 54,411 | 51,668 | |
Gross loans held at amortized cost, past due | 162 | 121 | |
Total | 54,573 | 51,789 | |
Bank | Consumer | Loans collateralized by securities | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 5 | 17 | |
Bank | Consumer | Loans collateralized by securities | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 38 | 0 | |
Bank | Consumer | Loans collateralized by securities | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1 | 0 | |
Bank | Consumer | Loans collateralized by securities | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 118 | 104 | |
Bank | Consumer | Consumer finance | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 5,750 | 4,361 | |
Gross loans held at amortized cost, past due | 700 | 442 | |
Total | 6,450 | 4,803 | |
Bank | Consumer | Consumer finance | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 476 | 156 | |
Bank | Consumer | Consumer finance | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 15 | 68 | |
Bank | Consumer | Consumer finance | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 48 | 47 | |
Bank | Consumer | Consumer finance | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 161 | 171 | |
Bank | Total loans to third parties | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 286,703 | 279,186 | |
Gross loans held at amortized cost, past due | 3,534 | 2,933 | |
Total | 290,237 | 282,119 | |
Bank | Total loans to third parties | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,214 | 994 | |
Bank | Total loans to third parties | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 456 | 212 | |
Bank | Total loans to third parties | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 129 | 301 | |
Bank | Total loans to third parties | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 1,735 | 1,426 | |
Bank | Total loans to entities under common control | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, current | 8,326 | 8,444 | |
Gross loans held at amortized cost, past due | 0 | 0 | |
Total | 8,326 | 8,444 | |
Bank | Total loans to entities under common control | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 0 | |
Bank | Total loans to entities under common control | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 0 | |
Bank | Total loans to entities under common control | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | 0 | 0 | |
Bank | Total loans to entities under common control | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost, past due | SFr 0 | SFr 0 |
CECL (Details 9)
CECL (Details 9) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Other financial assets held at amortized cost, total | SFr 888 | SFr 1,010 |
Bank | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Other financial assets held at amortized cost, total | SFr 888 | SFr 1,010 |
CECL (Details 10)
CECL (Details 10) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | SFr 45,625 | SFr 58,955 | |
Origination in current year-1 | 43,968 | 35,215 | |
Origination in current year-2 | 28,641 | 23,170 | |
Origination in current year-3 | 18,699 | 13,022 | |
Origination in current year-4 | 10,674 | 16,565 | |
Origination in current year-5 or more | 62,079 | 59,026 | |
Total term loans | 209,686 | 205,953 | |
Revolving loans | 80,563 | 76,178 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 290,249 | SFr 293,992 | 282,131 |
Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 30,439 | 39,082 | |
Origination in current year-1 | 30,790 | 24,471 | |
Origination in current year-2 | 19,897 | 15,690 | |
Origination in current year-3 | 12,579 | 9,358 | |
Origination in current year-4 | 7,846 | 13,678 | |
Origination in current year-5 or more | 52,776 | 50,017 | |
Total term loans | 154,327 | 152,296 | |
Revolving loans | 66,614 | 62,282 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 220,941 | 214,578 | |
Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 15,043 | 19,257 | |
Origination in current year-1 | 12,993 | 10,514 | |
Origination in current year-2 | 8,495 | 7,119 | |
Origination in current year-3 | 5,729 | 3,471 | |
Origination in current year-4 | 2,648 | 2,734 | |
Origination in current year-5 or more | 8,751 | 8,589 | |
Total term loans | 53,659 | 51,684 | |
Revolving loans | 13,102 | 13,173 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 66,761 | 64,857 | |
Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 143 | 616 | |
Origination in current year-1 | 185 | 230 | |
Origination in current year-2 | 249 | 361 | |
Origination in current year-3 | 391 | 193 | |
Origination in current year-4 | 180 | 153 | |
Origination in current year-5 or more | 552 | 420 | |
Total term loans | 1,700 | 1,973 | |
Revolving loans | 847 | 723 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,547 | 2,696 | |
Corporate and institutional | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 26,781 | 32,940 | |
Origination in current year-1 | 20,998 | 17,217 | |
Origination in current year-2 | 12,948 | 10,836 | |
Origination in current year-3 | 8,032 | 4,680 | |
Origination in current year-4 | 3,443 | 4,214 | |
Origination in current year-5 or more | 12,904 | 14,672 | |
Total term loans | 85,106 | 84,559 | |
Revolving loans | 31,897 | 29,710 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 117,003 | 114,269 | |
Corporate and institutional | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 13,863 | 17,338 | |
Origination in current year-1 | 11,266 | 8,861 | |
Origination in current year-2 | 6,450 | 4,670 | |
Origination in current year-3 | 3,400 | 2,129 | |
Origination in current year-4 | 1,708 | 2,511 | |
Origination in current year-5 or more | 7,882 | 9,488 | |
Total term loans | 44,569 | 44,997 | |
Revolving loans | 22,303 | 19,677 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 66,872 | 64,674 | |
Corporate and institutional | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 12,782 | 15,143 | |
Origination in current year-1 | 9,574 | 8,174 | |
Origination in current year-2 | 6,318 | 5,886 | |
Origination in current year-3 | 4,452 | 2,419 | |
Origination in current year-4 | 1,696 | 1,636 | |
Origination in current year-5 or more | 4,856 | 5,021 | |
Total term loans | 39,678 | 38,279 | |
Revolving loans | 8,980 | 9,499 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 48,658 | 47,778 | |
Corporate and institutional | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 136 | 459 | |
Origination in current year-1 | 158 | 182 | |
Origination in current year-2 | 180 | 280 | |
Origination in current year-3 | 180 | 132 | |
Origination in current year-4 | 39 | 67 | |
Origination in current year-5 or more | 166 | 163 | |
Total term loans | 859 | 1,283 | |
Revolving loans | 614 | 534 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,473 | 1,817 | |
Corporate and institutional | Real estate | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 7,980 | 8,952 | |
Origination in current year-1 | 7,063 | 4,513 | |
Origination in current year-2 | 3,560 | 3,006 | |
Origination in current year-3 | 2,012 | 1,451 | |
Origination in current year-4 | 958 | 1,901 | |
Origination in current year-5 or more | 5,629 | 7,120 | |
Total term loans | 27,202 | 26,943 | |
Revolving loans | 1,360 | 1,268 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 28,562 | 28,211 | |
Corporate and institutional | Real estate | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 5,254 | 6,054 | |
Origination in current year-1 | 4,614 | 2,902 | |
Origination in current year-2 | 2,429 | 1,849 | |
Origination in current year-3 | 1,350 | 1,033 | |
Origination in current year-4 | 778 | 1,591 | |
Origination in current year-5 or more | 4,710 | 5,982 | |
Total term loans | 19,135 | 19,411 | |
Revolving loans | 884 | 1,027 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 20,019 | 20,438 | |
Corporate and institutional | Real estate | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,724 | 2,792 | |
Origination in current year-1 | 2,443 | 1,611 | |
Origination in current year-2 | 1,129 | 1,133 | |
Origination in current year-3 | 661 | 346 | |
Origination in current year-4 | 178 | 285 | |
Origination in current year-5 or more | 888 | 1,105 | |
Total term loans | 8,023 | 7,272 | |
Revolving loans | 338 | 172 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 8,361 | 7,444 | |
Corporate and institutional | Real estate | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2 | 106 | |
Origination in current year-1 | 6 | 0 | |
Origination in current year-2 | 2 | 24 | |
Origination in current year-3 | 1 | 72 | |
Origination in current year-4 | 2 | 25 | |
Origination in current year-5 or more | 31 | 33 | |
Total term loans | 44 | 260 | |
Revolving loans | 138 | 69 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 182 | 329 | |
Corporate and institutional | Commercial and industrial loans | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 14,412 | 19,655 | |
Origination in current year-1 | 11,135 | 10,395 | |
Origination in current year-2 | 8,361 | 6,349 | |
Origination in current year-3 | 4,882 | 3,005 | |
Origination in current year-4 | 2,348 | 2,079 | |
Origination in current year-5 or more | 6,596 | 6,795 | |
Total term loans | 47,734 | 48,278 | |
Revolving loans | 23,064 | 22,285 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 70,798 | 70,563 | |
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 | 5,353 | 7,724 | |
Origination in current year-1 | 4,225 | 3,851 | |
Origination in current year-2 | 3,177 | 1,781 | |
Origination in current year-3 | 1,309 | 964 | |
Origination in current year-4 | 831 | 809 | |
Origination in current year-5 or more | 2,666 | 2,830 | |
Total term loans | 17,561 | 17,959 | |
Revolving loans | 14,311 | 12,913 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 31,872 | 30,872 | |
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 | 8,965 | 11,621 | |
Origination in current year-1 | 6,802 | 6,411 | |
Origination in current year-2 | 5,027 | 4,321 | |
Origination in current year-3 | 3,403 | 1,981 | |
Origination in current year-4 | 1,480 | 1,248 | |
Origination in current year-5 or more | 3,810 | 3,837 | |
Total term loans | 29,487 | 29,419 | |
Revolving loans | 8,278 | 8,908 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 37,765 | 38,327 | |
Corporate and institutional | Commercial and industrial loans | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 94 | 310 | |
Origination in current year-1 | 108 | 133 | |
Origination in current year-2 | 157 | 247 | |
Origination in current year-3 | 170 | 60 | |
Origination in current year-4 | 37 | 22 | |
Origination in current year-5 or more | 120 | 128 | |
Total term loans | 686 | 900 | |
Revolving loans | 475 | 464 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,161 | 1,364 | |
Corporate and institutional | Financial institutions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 3,924 | 4,126 | |
Origination in current year-1 | 2,564 | 2,144 | |
Origination in current year-2 | 888 | 1,401 | |
Origination in current year-3 | 1,070 | 189 | |
Origination in current year-4 | 107 | 159 | |
Origination in current year-5 or more | 405 | 328 | |
Total term loans | 8,958 | 8,347 | |
Revolving loans | 7,458 | 6,138 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 16,416 | 14,485 | |
Corporate and institutional | Financial institutions | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,829 | 3,386 | |
Origination in current year-1 | 2,249 | 1,973 | |
Origination in current year-2 | 745 | 960 | |
Origination in current year-3 | 684 | 97 | |
Origination in current year-4 | 69 | 37 | |
Origination in current year-5 or more | 254 | 288 | |
Total term loans | 6,830 | 6,741 | |
Revolving loans | 7,093 | 5,718 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 13,923 | 12,459 | |
Corporate and institutional | Financial institutions | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,055 | 697 | |
Origination in current year-1 | 271 | 132 | |
Origination in current year-2 | 142 | 432 | |
Origination in current year-3 | 377 | 92 | |
Origination in current year-4 | 38 | 102 | |
Origination in current year-5 or more | 136 | 38 | |
Total term loans | 2,019 | 1,493 | |
Revolving loans | 364 | 419 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,383 | 1,912 | |
Corporate and institutional | Financial institutions | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 40 | 43 | |
Origination in current year-1 | 44 | 39 | |
Origination in current year-2 | 1 | 9 | |
Origination in current year-3 | 9 | 0 | |
Origination in current year-4 | 0 | 20 | |
Origination in current year-5 or more | 15 | 2 | |
Total term loans | 109 | 113 | |
Revolving loans | 1 | 1 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 110 | 114 | |
Corporate and institutional | Governments and public institutions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 465 | 207 | |
Origination in current year-1 | 236 | 165 | |
Origination in current year-2 | 139 | 80 | |
Origination in current year-3 | 68 | 35 | |
Origination in current year-4 | 30 | 75 | |
Origination in current year-5 or more | 274 | 429 | |
Total term loans | 1,212 | 991 | |
Revolving loans | 15 | 19 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,227 | 1,010 | |
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 | 427 | 174 | |
Origination in current year-1 | 178 | 135 | |
Origination in current year-2 | 99 | 80 | |
Origination in current year-3 | 57 | 35 | |
Origination in current year-4 | 30 | 74 | |
Origination in current year-5 or more | 252 | 388 | |
Total term loans | 1,043 | 886 | |
Revolving loans | 15 | 19 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,058 | 905 | |
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 | 38 | 33 | |
Origination in current year-1 | 58 | 20 | |
Origination in current year-2 | 20 | 0 | |
Origination in current year-3 | 11 | 0 | |
Origination in current year-4 | 0 | 1 | |
Origination in current year-5 or more | 22 | 41 | |
Total term loans | 149 | 95 | |
Revolving loans | 0 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 149 | 95 | |
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 | 0 | |
Origination in current year-1 | 0 | 10 | |
Origination in current year-2 | 20 | 0 | |
Origination in current year-3 | 0 | 0 | |
Origination in current year-4 | 0 | 0 | |
Origination in current year-5 or more | 0 | 0 | |
Total term loans | 20 | 10 | |
Revolving loans | 0 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 20 | 10 | |
Consumer | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 18,844 | 26,015 | |
Origination in current year-1 | 22,970 | 17,998 | |
Origination in current year-2 | 15,693 | 12,334 | |
Origination in current year-3 | 10,667 | 8,342 | |
Origination in current year-4 | 7,231 | 12,351 | |
Origination in current year-5 or more | 49,175 | 44,354 | |
Total term loans | 124,580 | 121,394 | |
Revolving loans | 48,666 | 46,468 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 173,246 | 167,862 | |
Consumer | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 16,576 | 21,744 | |
Origination in current year-1 | 19,524 | 15,610 | |
Origination in current year-2 | 13,447 | 11,020 | |
Origination in current year-3 | 9,179 | 7,229 | |
Origination in current year-4 | 6,138 | 11,167 | |
Origination in current year-5 or more | 44,894 | 40,529 | |
Total term loans | 109,758 | 107,299 | |
Revolving loans | 44,311 | 42,605 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 154,069 | 149,904 | |
Consumer | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,261 | 4,114 | |
Origination in current year-1 | 3,419 | 2,340 | |
Origination in current year-2 | 2,177 | 1,233 | |
Origination in current year-3 | 1,277 | 1,052 | |
Origination in current year-4 | 952 | 1,098 | |
Origination in current year-5 or more | 3,895 | 3,568 | |
Total term loans | 13,981 | 13,405 | |
Revolving loans | 4,122 | 3,674 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 18,103 | 17,079 | |
Consumer | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 7 | 157 | |
Origination in current year-1 | 27 | 48 | |
Origination in current year-2 | 69 | 81 | |
Origination in current year-3 | 211 | 61 | |
Origination in current year-4 | 141 | 86 | |
Origination in current year-5 or more | 386 | 257 | |
Total term loans | 841 | 690 | |
Revolving loans | 233 | 189 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,074 | 879 | |
Consumer | Mortgages | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 14,180 | 20,432 | |
Origination in current year-1 | 19,236 | 15,609 | |
Origination in current year-2 | 14,039 | 11,232 | |
Origination in current year-3 | 9,822 | 7,988 | |
Origination in current year-4 | 6,939 | 11,941 | |
Origination in current year-5 or more | 46,795 | 42,988 | |
Total term loans | 111,011 | 110,190 | |
Revolving loans | 1,212 | 1,080 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 112,223 | 111,270 | |
Consumer | Mortgages | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 13,021 | 18,765 | |
Origination in current year-1 | 17,518 | 14,072 | |
Origination in current year-2 | 12,435 | 10,242 | |
Origination in current year-3 | 8,711 | 7,087 | |
Origination in current year-4 | 5,992 | 10,951 | |
Origination in current year-5 or more | 43,362 | 39,918 | |
Total term loans | 101,039 | 101,035 | |
Revolving loans | 319 | 528 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 101,358 | 101,563 | |
Consumer | Mortgages | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,153 | 1,664 | |
Origination in current year-1 | 1,701 | 1,511 | |
Origination in current year-2 | 1,554 | 932 | |
Origination in current year-3 | 1,031 | 857 | |
Origination in current year-4 | 821 | 914 | |
Origination in current year-5 or more | 3,091 | 2,854 | |
Total term loans | 9,351 | 8,732 | |
Revolving loans | 893 | 548 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 10,244 | 9,280 | |
Consumer | Mortgages | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 6 | 3 | |
Origination in current year-1 | 17 | 26 | |
Origination in current year-2 | 50 | 58 | |
Origination in current year-3 | 80 | 44 | |
Origination in current year-4 | 126 | 76 | |
Origination in current year-5 or more | 342 | 216 | |
Total term loans | 621 | 423 | |
Revolving loans | 0 | 4 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 621 | 427 | |
Consumer | Loans collateralized by securities | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,432 | 3,378 | |
Origination in current year-1 | 2,443 | 1,343 | |
Origination in current year-2 | 772 | 563 | |
Origination in current year-3 | 187 | 102 | |
Origination in current year-4 | 111 | 327 | |
Origination in current year-5 or more | 1,832 | 1,185 | |
Total term loans | 7,777 | 6,898 | |
Revolving loans | 46,796 | 44,891 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 54,573 | 51,789 | |
Consumer | Loans collateralized by securities | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,061 | 1,682 | |
Origination in current year-1 | 1,273 | 1,019 | |
Origination in current year-2 | 562 | 499 | |
Origination in current year-3 | 49 | 61 | |
Origination in current year-4 | 96 | 200 | |
Origination in current year-5 or more | 1,135 | 563 | |
Total term loans | 5,176 | 4,024 | |
Revolving loans | 43,499 | 41,749 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 48,675 | 45,773 | |
Consumer | Loans collateralized by securities | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 371 | 1,547 | |
Origination in current year-1 | 1,170 | 324 | |
Origination in current year-2 | 210 | 64 | |
Origination in current year-3 | 25 | 41 | |
Origination in current year-4 | 15 | 127 | |
Origination in current year-5 or more | 697 | 622 | |
Total term loans | 2,488 | 2,725 | |
Revolving loans | 3,154 | 3,038 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 5,642 | 5,763 | |
Consumer | Loans collateralized by securities | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 0 | 149 | |
Origination in current year-1 | 0 | 0 | |
Origination in current year-2 | 0 | 0 | |
Origination in current year-3 | 113 | 0 | |
Origination in current year-4 | 0 | 0 | |
Origination in current year-5 or more | 0 | 0 | |
Total term loans | 113 | 149 | |
Revolving loans | 143 | 104 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 256 | 253 | |
Consumer | Consumer finance | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,232 | 2,205 | |
Origination in current year-1 | 1,291 | 1,046 | |
Origination in current year-2 | 882 | 539 | |
Origination in current year-3 | 658 | 252 | |
Origination in current year-4 | 181 | 83 | |
Origination in current year-5 or more | 548 | 181 | |
Total term loans | 5,792 | 4,306 | |
Revolving loans | 658 | 497 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 6,450 | 4,803 | |
Consumer | Consumer finance | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,494 | 1,297 | |
Origination in current year-1 | 733 | 519 | |
Origination in current year-2 | 450 | 279 | |
Origination in current year-3 | 419 | 81 | |
Origination in current year-4 | 50 | 16 | |
Origination in current year-5 or more | 397 | 48 | |
Total term loans | 3,543 | 2,240 | |
Revolving loans | 493 | 328 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 4,036 | 2,568 | |
Consumer | Consumer finance | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 737 | 903 | |
Origination in current year-1 | 548 | 505 | |
Origination in current year-2 | 413 | 237 | |
Origination in current year-3 | 221 | 154 | |
Origination in current year-4 | 116 | 57 | |
Origination in current year-5 or more | 107 | 92 | |
Total term loans | 2,142 | 1,948 | |
Revolving loans | 75 | 88 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,217 | 2,036 | |
Consumer | Consumer finance | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1 | 5 | |
Origination in current year-1 | 10 | 22 | |
Origination in current year-2 | 19 | 23 | |
Origination in current year-3 | 18 | 17 | |
Origination in current year-4 | 15 | 10 | |
Origination in current year-5 or more | 44 | 41 | |
Total term loans | 107 | 118 | |
Revolving loans | 90 | 81 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 197 | 199 | |
Bank | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 45,625 | 58,955 | |
Origination in current year-1 | 43,968 | 35,215 | |
Origination in current year-2 | 28,641 | 23,170 | |
Origination in current year-3 | 18,699 | 13,022 | |
Origination in current year-4 | 10,674 | 16,565 | |
Origination in current year-5 or more | 62,067 | 59,014 | |
Total term loans | 209,674 | 205,941 | |
Revolving loans | 80,563 | 76,178 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 298,563 | 290,563 | |
Bank | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 30,439 | 39,082 | |
Origination in current year-1 | 30,790 | 24,471 | |
Origination in current year-2 | 19,897 | 15,690 | |
Origination in current year-3 | 12,579 | 9,358 | |
Origination in current year-4 | 7,846 | 13,678 | |
Origination in current year-5 or more | 52,776 | 50,017 | |
Total term loans | 154,327 | 152,296 | |
Revolving loans | 66,614 | 62,282 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 229,265 | 223,022 | |
Bank | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 15,043 | 19,257 | |
Origination in current year-1 | 12,993 | 10,514 | |
Origination in current year-2 | 8,495 | 7,119 | |
Origination in current year-3 | 5,729 | 3,471 | |
Origination in current year-4 | 2,648 | 2,734 | |
Origination in current year-5 or more | 8,751 | 8,589 | |
Total term loans | 53,659 | 51,684 | |
Revolving loans | 13,102 | 13,173 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 66,763 | 64,857 | |
Bank | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 143 | 616 | |
Origination in current year-1 | 185 | 230 | |
Origination in current year-2 | 249 | 361 | |
Origination in current year-3 | 391 | 193 | |
Origination in current year-4 | 180 | 153 | |
Origination in current year-5 or more | 540 | 408 | |
Total term loans | 1,688 | 1,961 | |
Revolving loans | 847 | 723 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,535 | 2,684 | |
Bank | Corporate and institutional | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 26,781 | 32,940 | |
Origination in current year-1 | 20,998 | 17,217 | |
Origination in current year-2 | 12,948 | 10,836 | |
Origination in current year-3 | 8,032 | 4,680 | |
Origination in current year-4 | 3,443 | 4,214 | |
Origination in current year-5 or more | 12,892 | 14,660 | |
Total term loans | 85,094 | 84,547 | |
Revolving loans | 31,897 | 29,710 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 116,991 | 114,257 | |
Bank | Corporate and institutional | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 13,863 | 17,338 | |
Origination in current year-1 | 11,266 | 8,861 | |
Origination in current year-2 | 6,450 | 4,670 | |
Origination in current year-3 | 3,400 | 2,129 | |
Origination in current year-4 | 1,708 | 2,511 | |
Origination in current year-5 or more | 7,882 | 9,488 | |
Total term loans | 44,569 | 44,997 | |
Revolving loans | 22,303 | 19,677 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 66,872 | 64,674 | |
Bank | Corporate and institutional | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 12,782 | 15,143 | |
Origination in current year-1 | 9,574 | 8,174 | |
Origination in current year-2 | 6,318 | 5,886 | |
Origination in current year-3 | 4,452 | 2,419 | |
Origination in current year-4 | 1,696 | 1,636 | |
Origination in current year-5 or more | 4,856 | 5,021 | |
Total term loans | 39,678 | 38,279 | |
Revolving loans | 8,980 | 9,499 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 48,658 | 47,778 | |
Bank | Corporate and institutional | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 136 | 459 | |
Origination in current year-1 | 158 | 182 | |
Origination in current year-2 | 180 | 280 | |
Origination in current year-3 | 180 | 132 | |
Origination in current year-4 | 39 | 67 | |
Origination in current year-5 or more | 154 | 151 | |
Total term loans | 847 | 1,271 | |
Revolving loans | 614 | 534 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,461 | 1,805 | |
Bank | Corporate and institutional | Real estate | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 7,980 | 8,952 | |
Origination in current year-1 | 7,063 | 4,513 | |
Origination in current year-2 | 3,560 | 3,006 | |
Origination in current year-3 | 2,012 | 1,451 | |
Origination in current year-4 | 958 | 1,901 | |
Origination in current year-5 or more | 5,629 | 7,120 | |
Total term loans | 27,202 | 26,943 | |
Revolving loans | 1,360 | 1,268 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 28,562 | 28,211 | |
Bank | Corporate and institutional | Real estate | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 5,254 | 6,054 | |
Origination in current year-1 | 4,614 | 2,902 | |
Origination in current year-2 | 2,429 | 1,849 | |
Origination in current year-3 | 1,350 | 1,033 | |
Origination in current year-4 | 778 | 1,591 | |
Origination in current year-5 or more | 4,710 | 5,982 | |
Total term loans | 19,135 | 19,411 | |
Revolving loans | 884 | 1,027 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 20,019 | 20,438 | |
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 | 2,724 | 2,792 | |
Origination in current year-1 | 2,443 | 1,611 | |
Origination in current year-2 | 1,129 | 1,133 | |
Origination in current year-3 | 661 | 346 | |
Origination in current year-4 | 178 | 285 | |
Origination in current year-5 or more | 888 | 1,105 | |
Total term loans | 8,023 | 7,272 | |
Revolving loans | 338 | 172 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 8,361 | 7,444 | |
Bank | Corporate and institutional | Real estate | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2 | 106 | |
Origination in current year-1 | 6 | 0 | |
Origination in current year-2 | 2 | 24 | |
Origination in current year-3 | 1 | 72 | |
Origination in current year-4 | 2 | 25 | |
Origination in current year-5 or more | 31 | 33 | |
Total term loans | 44 | 260 | |
Revolving loans | 138 | 69 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 182 | 329 | |
Bank | Corporate and institutional | Commercial and industrial loans | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 14,412 | 19,655 | |
Origination in current year-1 | 11,135 | 10,395 | |
Origination in current year-2 | 8,361 | 6,349 | |
Origination in current year-3 | 4,882 | 3,005 | |
Origination in current year-4 | 2,348 | 2,079 | |
Origination in current year-5 or more | 6,584 | 6,783 | |
Total term loans | 47,722 | 48,266 | |
Revolving loans | 23,064 | 22,285 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 70,786 | 70,551 | |
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 | 5,353 | 7,724 | |
Origination in current year-1 | 4,225 | 3,851 | |
Origination in current year-2 | 3,177 | 1,781 | |
Origination in current year-3 | 1,309 | 964 | |
Origination in current year-4 | 831 | 809 | |
Origination in current year-5 or more | 2,666 | 2,830 | |
Total term loans | 17,561 | 17,959 | |
Revolving loans | 14,311 | 12,913 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 31,872 | 30,872 | |
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 | 8,965 | 11,621 | |
Origination in current year-1 | 6,802 | 6,411 | |
Origination in current year-2 | 5,027 | 4,321 | |
Origination in current year-3 | 3,403 | 1,981 | |
Origination in current year-4 | 1,480 | 1,248 | |
Origination in current year-5 or more | 3,810 | 3,837 | |
Total term loans | 29,487 | 29,419 | |
Revolving loans | 8,278 | 8,908 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 37,765 | 38,327 | |
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 | 94 | 310 | |
Origination in current year-1 | 108 | 133 | |
Origination in current year-2 | 157 | 247 | |
Origination in current year-3 | 170 | 60 | |
Origination in current year-4 | 37 | 22 | |
Origination in current year-5 or more | 108 | 116 | |
Total term loans | 674 | 888 | |
Revolving loans | 475 | 464 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,149 | 1,352 | |
Bank | Corporate and institutional | Financial institutions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 3,924 | 4,126 | |
Origination in current year-1 | 2,564 | 2,144 | |
Origination in current year-2 | 888 | 1,401 | |
Origination in current year-3 | 1,070 | 189 | |
Origination in current year-4 | 107 | 159 | |
Origination in current year-5 or more | 405 | 328 | |
Total term loans | 8,958 | 8,347 | |
Revolving loans | 7,458 | 6,138 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 16,416 | 14,485 | |
Bank | Corporate and institutional | Financial institutions | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,829 | 3,386 | |
Origination in current year-1 | 2,249 | 1,973 | |
Origination in current year-2 | 745 | 960 | |
Origination in current year-3 | 684 | 97 | |
Origination in current year-4 | 69 | 37 | |
Origination in current year-5 or more | 254 | 288 | |
Total term loans | 6,830 | 6,741 | |
Revolving loans | 7,093 | 5,718 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 13,923 | 12,459 | |
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 | 1,055 | 697 | |
Origination in current year-1 | 271 | 132 | |
Origination in current year-2 | 142 | 432 | |
Origination in current year-3 | 377 | 92 | |
Origination in current year-4 | 38 | 102 | |
Origination in current year-5 or more | 136 | 38 | |
Total term loans | 2,019 | 1,493 | |
Revolving loans | 364 | 419 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,383 | 1,912 | |
Bank | Corporate and institutional | Financial institutions | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 40 | 43 | |
Origination in current year-1 | 44 | 39 | |
Origination in current year-2 | 1 | 9 | |
Origination in current year-3 | 9 | 0 | |
Origination in current year-4 | 0 | 20 | |
Origination in current year-5 or more | 15 | 2 | |
Total term loans | 109 | 113 | |
Revolving loans | 1 | 1 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 110 | 114 | |
Bank | Corporate and institutional | Governments and public institutions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 465 | 207 | |
Origination in current year-1 | 236 | 165 | |
Origination in current year-2 | 139 | 80 | |
Origination in current year-3 | 68 | 35 | |
Origination in current year-4 | 30 | 75 | |
Origination in current year-5 or more | 274 | 429 | |
Total term loans | 1,212 | 991 | |
Revolving loans | 15 | 19 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,227 | 1,010 | |
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 | 427 | 174 | |
Origination in current year-1 | 178 | 135 | |
Origination in current year-2 | 99 | 80 | |
Origination in current year-3 | 57 | 35 | |
Origination in current year-4 | 30 | 74 | |
Origination in current year-5 or more | 252 | 388 | |
Total term loans | 1,043 | 886 | |
Revolving loans | 15 | 19 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,058 | 905 | |
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 | 38 | 33 | |
Origination in current year-1 | 58 | 20 | |
Origination in current year-2 | 20 | 0 | |
Origination in current year-3 | 11 | 0 | |
Origination in current year-4 | 0 | 1 | |
Origination in current year-5 or more | 22 | 41 | |
Total term loans | 149 | 95 | |
Revolving loans | 0 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 149 | 95 | |
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 | 0 | |
Origination in current year-1 | 0 | 10 | |
Origination in current year-2 | 20 | 0 | |
Origination in current year-3 | 0 | 0 | |
Origination in current year-4 | 0 | 0 | |
Origination in current year-5 or more | 0 | 0 | |
Total term loans | 20 | 10 | |
Revolving loans | 0 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 20 | 10 | |
Bank | Consumer | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 18,844 | 26,015 | |
Origination in current year-1 | 22,970 | 17,998 | |
Origination in current year-2 | 15,693 | 12,334 | |
Origination in current year-3 | 10,667 | 8,342 | |
Origination in current year-4 | 7,231 | 12,351 | |
Origination in current year-5 or more | 49,175 | 44,354 | |
Total term loans | 124,580 | 121,394 | |
Revolving loans | 48,666 | 46,468 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 173,246 | 167,862 | |
Bank | Consumer | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 16,576 | 21,744 | |
Origination in current year-1 | 19,524 | 15,610 | |
Origination in current year-2 | 13,447 | 11,020 | |
Origination in current year-3 | 9,179 | 7,229 | |
Origination in current year-4 | 6,138 | 11,167 | |
Origination in current year-5 or more | 44,894 | 40,529 | |
Total term loans | 109,758 | 107,299 | |
Revolving loans | 44,311 | 42,605 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 154,069 | 149,904 | |
Bank | Consumer | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,261 | 4,114 | |
Origination in current year-1 | 3,419 | 2,340 | |
Origination in current year-2 | 2,177 | 1,233 | |
Origination in current year-3 | 1,277 | 1,052 | |
Origination in current year-4 | 952 | 1,098 | |
Origination in current year-5 or more | 3,895 | 3,568 | |
Total term loans | 13,981 | 13,405 | |
Revolving loans | 4,122 | 3,674 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 18,103 | 17,079 | |
Bank | Consumer | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 7 | 157 | |
Origination in current year-1 | 27 | 48 | |
Origination in current year-2 | 69 | 81 | |
Origination in current year-3 | 211 | 61 | |
Origination in current year-4 | 141 | 86 | |
Origination in current year-5 or more | 386 | 257 | |
Total term loans | 841 | 690 | |
Revolving loans | 233 | 189 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,074 | 879 | |
Bank | Consumer | Mortgages | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 14,180 | 20,432 | |
Origination in current year-1 | 19,236 | 15,609 | |
Origination in current year-2 | 14,039 | 11,232 | |
Origination in current year-3 | 9,822 | 7,988 | |
Origination in current year-4 | 6,939 | 11,941 | |
Origination in current year-5 or more | 46,795 | 42,988 | |
Total term loans | 111,011 | 110,190 | |
Revolving loans | 1,212 | 1,080 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 112,223 | 111,270 | |
Bank | Consumer | Mortgages | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 13,021 | 18,765 | |
Origination in current year-1 | 17,518 | 14,072 | |
Origination in current year-2 | 12,435 | 10,242 | |
Origination in current year-3 | 8,711 | 7,087 | |
Origination in current year-4 | 5,992 | 10,951 | |
Origination in current year-5 or more | 43,362 | 39,918 | |
Total term loans | 101,039 | 101,035 | |
Revolving loans | 319 | 528 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 101,358 | 101,563 | |
Bank | Consumer | Mortgages | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,153 | 1,664 | |
Origination in current year-1 | 1,701 | 1,511 | |
Origination in current year-2 | 1,554 | 932 | |
Origination in current year-3 | 1,031 | 857 | |
Origination in current year-4 | 821 | 914 | |
Origination in current year-5 or more | 3,091 | 2,854 | |
Total term loans | 9,351 | 8,732 | |
Revolving loans | 893 | 548 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 10,244 | 9,280 | |
Bank | Consumer | Mortgages | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 6 | 3 | |
Origination in current year-1 | 17 | 26 | |
Origination in current year-2 | 50 | 58 | |
Origination in current year-3 | 80 | 44 | |
Origination in current year-4 | 126 | 76 | |
Origination in current year-5 or more | 342 | 216 | |
Total term loans | 621 | 423 | |
Revolving loans | 0 | 4 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 621 | 427 | |
Bank | Consumer | Loans collateralized by securities | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,432 | 3,378 | |
Origination in current year-1 | 2,443 | 1,343 | |
Origination in current year-2 | 772 | 563 | |
Origination in current year-3 | 187 | 102 | |
Origination in current year-4 | 111 | 327 | |
Origination in current year-5 or more | 1,832 | 1,185 | |
Total term loans | 7,777 | 6,898 | |
Revolving loans | 46,796 | 44,891 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 54,573 | 51,789 | |
Bank | Consumer | Loans collateralized by securities | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,061 | 1,682 | |
Origination in current year-1 | 1,273 | 1,019 | |
Origination in current year-2 | 562 | 499 | |
Origination in current year-3 | 49 | 61 | |
Origination in current year-4 | 96 | 200 | |
Origination in current year-5 or more | 1,135 | 563 | |
Total term loans | 5,176 | 4,024 | |
Revolving loans | 43,499 | 41,749 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 48,675 | 45,773 | |
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 | 371 | 1,547 | |
Origination in current year-1 | 1,170 | 324 | |
Origination in current year-2 | 210 | 64 | |
Origination in current year-3 | 25 | 41 | |
Origination in current year-4 | 15 | 127 | |
Origination in current year-5 or more | 697 | 622 | |
Total term loans | 2,488 | 2,725 | |
Revolving loans | 3,154 | 3,038 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 5,642 | 5,763 | |
Bank | Consumer | Loans collateralized by securities | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 0 | 149 | |
Origination in current year-1 | 0 | 0 | |
Origination in current year-2 | 0 | 0 | |
Origination in current year-3 | 113 | 0 | |
Origination in current year-4 | 0 | 0 | |
Origination in current year-5 or more | 0 | 0 | |
Total term loans | 113 | 149 | |
Revolving loans | 143 | 104 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 256 | 253 | |
Bank | Consumer | Consumer finance | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,232 | 2,205 | |
Origination in current year-1 | 1,291 | 1,046 | |
Origination in current year-2 | 882 | 539 | |
Origination in current year-3 | 658 | 252 | |
Origination in current year-4 | 181 | 83 | |
Origination in current year-5 or more | 548 | 181 | |
Total term loans | 5,792 | 4,306 | |
Revolving loans | 658 | 497 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 6,450 | 4,803 | |
Bank | Consumer | Consumer finance | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,494 | 1,297 | |
Origination in current year-1 | 733 | 519 | |
Origination in current year-2 | 450 | 279 | |
Origination in current year-3 | 419 | 81 | |
Origination in current year-4 | 50 | 16 | |
Origination in current year-5 or more | 397 | 48 | |
Total term loans | 3,543 | 2,240 | |
Revolving loans | 493 | 328 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 4,036 | 2,568 | |
Bank | Consumer | Consumer finance | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 737 | 903 | |
Origination in current year-1 | 548 | 505 | |
Origination in current year-2 | 413 | 237 | |
Origination in current year-3 | 221 | 154 | |
Origination in current year-4 | 116 | 57 | |
Origination in current year-5 or more | 107 | 92 | |
Total term loans | 2,142 | 1,948 | |
Revolving loans | 75 | 88 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,217 | 2,036 | |
Bank | Consumer | Consumer finance | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1 | 5 | |
Origination in current year-1 | 10 | 22 | |
Origination in current year-2 | 19 | 23 | |
Origination in current year-3 | 18 | 17 | |
Origination in current year-4 | 15 | 10 | |
Origination in current year-5 or more | 44 | 41 | |
Total term loans | 107 | 118 | |
Revolving loans | 90 | 81 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 197 | 199 | |
Bank | Total loans to third parties | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 290,237 | 282,119 | |
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 | 220,941 | 214,578 | |
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 | 66,761 | 64,857 | |
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 | 2,535 | 2,684 | |
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 | 8,326 | 8,444 | |
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 | 8,324 | 8,444 | |
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 | 2 | 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 | SFr 0 |
CECL (Details 12)
CECL (Details 12) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year-2 | SFr 0 | SFr 70 |
Origination in current year-3 | 70 | 2 |
Origination in current year-4 | 1 | 4 |
Origination 5 years or more | 3 | 0 |
Total term positions | 74 | 76 |
Revolving positions | 814 | 934 |
Other financial assets held at amortized cost, total | 888 | 1,010 |
Investment grade | AAA to BBB | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 0 |
Origination in current year-4 | 0 | 0 |
Origination 5 years or more | 0 | 0 |
Total term positions | 0 | 0 |
Revolving positions | 0 | 0 |
Other financial assets held at amortized cost, total | 0 | 0 |
Non-investment grade | BB to C | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year-2 | 0 | 70 |
Origination in current year-3 | 70 | 2 |
Origination in current year-4 | 1 | 4 |
Origination 5 years or more | 3 | 0 |
Total term positions | 74 | 76 |
Revolving positions | 814 | 934 |
Other financial assets held at amortized cost, total | 888 | 1,010 |
Non-investment grade | D | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 0 |
Origination in current year-4 | 0 | 0 |
Origination 5 years or more | 0 | 0 |
Total term positions | 0 | 0 |
Revolving positions | 0 | 0 |
Other financial assets held at amortized cost, total | 0 | 0 |
Bank | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year-2 | 0 | 70 |
Origination in current year-3 | 70 | 2 |
Origination in current year-4 | 1 | 4 |
Origination 5 years or more | 3 | 0 |
Total term positions | 74 | 76 |
Revolving positions | 814 | 934 |
Other financial assets held at amortized cost, total | 888 | 1,010 |
Bank | Investment grade | AAA to BBB | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 0 |
Origination in current year-4 | 0 | 0 |
Origination 5 years or more | 0 | 0 |
Total term positions | 0 | 0 |
Revolving positions | 0 | 0 |
Other financial assets held at amortized cost, total | 0 | 0 |
Bank | Non-investment grade | BB to C | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year-2 | 0 | 70 |
Origination in current year-3 | 70 | 2 |
Origination in current year-4 | 1 | 4 |
Origination 5 years or more | 3 | 0 |
Total term positions | 74 | 76 |
Revolving positions | 814 | 934 |
Other financial assets held at amortized cost, total | 888 | 1,010 |
Bank | Non-investment grade | D | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 0 |
Origination in current year-4 | 0 | 0 |
Origination 5 years or more | 0 | 0 |
Total term positions | 0 | 0 |
Revolving positions | 0 | 0 |
Other financial assets held at amortized cost, total | SFr 0 | SFr 0 |
CECL (Details 14)
CECL (Details 14) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021CHF (SFr)contract | Mar. 31, 2021CHF (SFr)contract | Jun. 30, 2020CHF (SFr)contract | Jun. 30, 2021CHF (SFr)contract | Jun. 30, 2020CHF (SFr)contract | |
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 5 | 11 | 3 | 16 | 9 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 21 | SFr 415 | SFr 118 | SFr 436 | SFr 148 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 17 | SFr 411 | SFr 117 | SFr 428 | SFr 131 |
Restructured loans, subsequently defaulted, Number of contracts | contract | 3 | 0 | 3 | 3 | 3 |
Restructured loans, subsequently defaulted, Recorded Investment | SFr 156 | SFr 0 | SFr 12 | SFr 156 | SFr 12 |
Consumer | Loans collateralized by securities | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 0 | 0 | 2 | 0 | 2 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 0 | SFr 0 | SFr 116 | SFr 0 | SFr 116 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 0 | SFr 0 | SFr 116 | SFr 0 | SFr 116 |
Restructured loans, subsequently defaulted, Number of contracts | contract | 3 | 0 | 0 | 3 | 0 |
Restructured loans, subsequently defaulted, Recorded Investment | SFr 156 | SFr 0 | SFr 0 | SFr 156 | SFr 0 |
Corporate and institutional | Real estate | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 1 | 0 | 0 | 1 | 0 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 2 | SFr 0 | SFr 0 | SFr 2 | SFr 0 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 2 | SFr 0 | SFr 0 | SFr 2 | SFr 0 |
Corporate and institutional | Commercial and industrial loans | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 4 | 10 | 1 | 14 | 7 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 19 | SFr 371 | SFr 2 | SFr 390 | SFr 32 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 15 | SFr 367 | SFr 1 | SFr 382 | SFr 15 |
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 0 | 3 | 0 | 3 |
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 0 | SFr 12 | SFr 0 | SFr 12 |
Corporate and institutional | Financial institutions | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 0 | 1 | 0 | 1 | 0 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 0 | SFr 44 | SFr 0 | SFr 44 | SFr 0 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 0 | SFr 44 | SFr 0 | SFr 44 | SFr 0 |
Bank | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 16 | 9 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 436 | SFr 148 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 428 | SFr 131 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 3 | 3 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 156 | SFr 12 | |||
Bank | Consumer | Loans collateralized by securities | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 0 | 2 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 0 | SFr 116 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 0 | SFr 116 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 3 | 0 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 156 | SFr 0 | |||
Bank | Corporate and institutional | Real estate | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 1 | 0 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 2 | SFr 0 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 2 | SFr 0 | |||
Bank | Corporate and institutional | Commercial and industrial loans | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 14 | 7 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 390 | SFr 32 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 382 | SFr 15 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 3 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 12 | |||
Bank | Corporate and institutional | Financial institutions | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 1 | 0 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 44 | SFr 0 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 44 | SFr 0 |
CECL (Details 15)
CECL (Details 15) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2022 | |
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Number of Macroeconomic Scenarios | 3 | 3 | ||
Scenario, Macroeconomic scenario, Downside [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 30.00% | 40.00% | ||
Scenario, Macroeconomic scenario, Downside [Member] | Real GDP growth rate (%YoY) [Member] | Eurozone [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 2.30% | 1.40% | ||
Scenario, Macroeconomic scenario, Downside [Member] | Real GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 2.30% | 0.10% | ||
Scenario, Macroeconomic scenario, Downside [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 4.80% | 1.40% | ||
Scenario, Macroeconomic scenario, Downside [Member] | Real GDP growth rate (%YoY) [Member] | UNITED KINGDOM [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 4.80% | 3.00% | ||
Scenario, Macroeconomic scenario, Downside [Member] | Industrial production (%YoY) [Member] | World [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 7.20% | 2.60% | ||
Scenario, Macroeconomic scenario, Baseline [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 60.00% | 50.00% | ||
Scenario, Macroeconomic scenario, Upside [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 10.00% | 10.00% | ||
Scenario, Macroeconomic scenario, Upside [Member] | Real GDP growth rate (%YoY) [Member] | Eurozone [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 4.20% | 4.90% | ||
Scenario, Macroeconomic scenario, Upside [Member] | Real GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 3.90% | 2.70% | ||
Scenario, Macroeconomic scenario, Upside [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 7.30% | 3.80% | ||
Scenario, Macroeconomic scenario, Upside [Member] | Real GDP growth rate (%YoY) [Member] | UNITED KINGDOM [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 7.00% | 7.30% | ||
Scenario, Macroeconomic scenario, Upside [Member] | Industrial production (%YoY) [Member] | World [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 10.80% | 5.20% |
Goodwill (Details)
Goodwill (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Gross amount of goodwill | ||||
Balance at beginning of period | SFr 8,535 | SFr 8,317 | ||
Foreign currency translation impact | (56) | 162 | ||
Balance at end of period | 8,479 | 8,479 | ||
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 | 4,588 | 4,588 | SFr 4,644 | SFr 4,426 |
Operating Segments | Swiss Universal Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 595 | 575 | ||
Foreign currency translation impact | (5) | 15 | ||
Balance at end of period | 590 | 590 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | 0 | ||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 590 | 590 | ||
Operating Segments | International Wealth Management | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 291 | 284 | ||
Foreign currency translation impact | (2) | 5 | ||
Balance at end of period | 289 | 289 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | 0 | ||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 289 | 289 | ||
Operating Segments | Asia Pacific | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,063 | 1,021 | ||
Foreign currency translation impact | (11) | 31 | ||
Balance at end of period | 1,052 | 1,052 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | 0 | ||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 1,052 | 1,052 | ||
Operating Segments | Asset Management | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,140 | 1,068 | ||
Foreign currency translation impact | (18) | 54 | ||
Balance at end of period | 1,122 | 1,122 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | 0 | ||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 1,122 | 1,122 | ||
Operating Segments | Investment Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 5,434 | 5,357 | ||
Foreign currency translation impact | (20) | 57 | ||
Balance at end of period | 5,414 | 5,414 | ||
Accumulated impairment | ||||
Balance at beginning of period | 3,879 | 3,879 | ||
Balance at end of period | 3,879 | 3,879 | ||
Net book value | ||||
Net book value | SFr 1,535 | SFr 1,535 | ||
Percentage by which goodwill fair value exceeds carrying value | 4.00% | 4.00% | ||
Operating Segments | Strategic Resolution Unit (old) | ||||
Gross amount of goodwill | ||||
Balance at end of period | SFr 12 | SFr 12 | ||
Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 7,646 | |||
Foreign currency translation impact | 146 | |||
Balance at end of period | 7,792 | 7,792 | ||
Accumulated impairment | ||||
Balance at beginning of period | 3,891 | |||
Balance at end of period | 3,891 | 3,891 | ||
Net book value | ||||
Net book value | 3,901 | 3,901 | SFr 3,755 | |
Bank | Operating Segments | Swiss Universal Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 557 | |||
Foreign currency translation impact | 15 | |||
Balance at end of period | 572 | 572 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | |||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 572 | 572 | ||
Bank | Operating Segments | International Wealth Management | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 276 | |||
Foreign currency translation impact | 6 | |||
Balance at end of period | 282 | 282 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | |||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 282 | 282 | ||
Bank | Operating Segments | Asia Pacific | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,005 | |||
Foreign currency translation impact | 34 | |||
Balance at end of period | 1,039 | 1,039 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | |||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 1,039 | 1,039 | ||
Bank | Operating Segments | Asset Management | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,062 | |||
Foreign currency translation impact | 54 | |||
Balance at end of period | 1,116 | 1,116 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | |||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 1,116 | 1,116 | ||
Bank | Operating Segments | Investment Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 4,734 | |||
Foreign currency translation impact | 37 | |||
Balance at end of period | 4,771 | 4,771 | ||
Accumulated impairment | ||||
Balance at beginning of period | 3,879 | |||
Balance at end of period | 3,879 | 3,879 | ||
Net book value | ||||
Net book value | 892 | 892 | ||
Bank | Operating Segments | Strategic Resolution Unit (old) | ||||
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, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Other intangible assets | |||
Other intangible assets (mortgage servicing rights), at fair value | SFr 189 | SFr 181 | SFr 180 |
Total other intangible assets, net | 245 | SFr 239 | 237 |
Bank | |||
Other intangible assets | |||
Other intangible assets (mortgage servicing rights), at fair value | 189 | 180 | |
Total other intangible assets, net | SFr 245 | SFr 237 |
Other assets and other liabil_3
Other assets and other liabilities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Other assets | |||
Cash collateral on derivative instruments | SFr 7,664 | SFr 8,817 | SFr 7,741 |
Cash collateral on non-derivative transactions | 416 | 250 | 635 |
Derivative instruments used for hedging | 457 | 295 | 131 |
Assets held-for-sale | 8,169 | 13,193 | 7,077 |
of which loans | 8,136 | 13,160 | 7,046 |
allowance for loans held-for-sale | (51) | (51) | (48) |
of which real estate | 31 | 27 | 27 |
of which long-lived assets | 2 | 6 | 4 |
Premises, equipment and right-of-use assets | 7,428 | 7,523 | 7,376 |
Assets held for separate accounts | 107 | 107 | 102 |
Interest and fees receivable | 4,155 | 4,838 | 4,255 |
Deferred tax assets | 4,201 | 3,964 | 3,667 |
Prepaid expenses | 693 | 688 | 448 |
of which cloud computing arrangement implementation costs | 45 | 43 | 38 |
Failed purchases | 1,793 | 1,595 | 1,451 |
Defined benefit pension and post-retirement plan assets | 3,047 | 3,073 | 2,872 |
Other | 4,041 | 4,559 | 3,882 |
Other assets | 42,171 | 48,902 | 39,637 |
Other liabilities | |||
Cash collateral on derivative instruments | 7,200 | 8,839 | 7,831 |
Cash collateral on non-derivative transactions | 215 | 258 | 174 |
Derivative instruments used for hedging | 12 | 39 | 45 |
Operating Lease, Liability | 2,652 | 2,740 | 2,759 |
Provisions | 1,256 | 1,653 | 2,080 |
of which off-balance sheet risk | 260 | 324 | 311 |
Restructuring liabilities | 25 | 42 | 52 |
Liabilities held for separate accounts | 107 | 107 | 102 |
Interest and fees payable | 4,128 | 4,651 | 4,297 |
Current tax liabilities | 622 | 569 | 555 |
Deferred tax liabilities | 578 | 557 | 530 |
Failed sales | 1,437 | 1,090 | 1,120 |
Defined benefit pension and post-retirement plan liabilities | 414 | 425 | 410 |
Other | 10,425 | 10,733 | 11,479 |
Other liabilities | 29,071 | 31,703 | 31,434 |
Restricted loans, representing collateral on secured borrowings, included in loans held-for-sale | 363 | 471 | 262 |
Foreclosed or repossessed real estate | 8 | 8 | 8 |
Foreclosed or repossessed residential real estate | 8 | 8 | 8 |
Other assets, held at amortized cost, Allowance for Credit Loss | 41 | 4,447 | 43 |
Archegos Capital Management [Member] | |||
Other liabilities | |||
Other assets, held at amortized cost, Allowance for Credit Loss | SFr 4,394 | ||
Bank | |||
Other assets | |||
Cash collateral on derivative instruments | 7,664 | 7,741 | |
Cash collateral on non-derivative transactions | 416 | 635 | |
Derivative instruments used for hedging | 457 | 131 | |
Assets held-for-sale | 8,169 | 7,077 | |
of which loans | 8,136 | 7,046 | |
allowance for loans held-for-sale | (51) | (48) | |
of which real estate | 31 | 27 | |
of which long-lived assets | 2 | 4 | |
Premises, equipment and right-of-use assets | 6,263 | 6,213 | |
Assets held for separate accounts | 107 | 102 | |
Interest and fees receivable | 4,225 | 4,397 | |
Deferred tax assets | 4,155 | 3,630 | |
Prepaid expenses | 570 | 367 | |
of which cloud computing arrangement implementation costs | 39 | 32 | |
Failed purchases | 1,793 | 1,451 | |
Defined benefit pension and post-retirement plan assets | 910 | 975 | |
Other | 4,050 | 3,855 | |
Other assets | 38,779 | 36,574 | |
Other liabilities | |||
Cash collateral on derivative instruments | 7,209 | 7,831 | |
Cash collateral on non-derivative transactions | 215 | 174 | |
Derivative instruments used for hedging | 12 | 45 | |
Operating Lease, Liability | 1,896 | 1,981 | |
Provisions | 1,244 | 2,067 | |
of which off-balance sheet risk | 260 | 311 | |
Restructuring liabilities | 25 | 49 | |
Liabilities held for separate accounts | 107 | 102 | |
Interest and fees payable | 4,068 | 4,397 | |
Current tax liabilities | 612 | 542 | |
Deferred tax liabilities | 164 | 157 | |
Failed sales | 1,437 | 1,120 | |
Defined benefit pension and post-retirement plan liabilities | 406 | 403 | |
Other | 10,540 | 11,472 | |
Other liabilities | 27,935 | 30,340 | |
Restricted loans, representing collateral on secured borrowings, included in loans held-for-sale | 363 | 262 | |
Foreclosed or repossessed real estate | 8 | 8 | |
Foreclosed or repossessed residential real estate | 8 | 8 | |
Other assets, held at amortized cost, Allowance for Credit Loss | SFr 39 | SFr 41 |
Other assets and other liabil_4
Other assets and other liabilities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Right-of-use assets [Abstract] | |||
Premises, equipment and right-of-use assets | SFr 7,428 | SFr 7,523 | SFr 7,376 |
Bank | |||
Right-of-use assets [Abstract] | |||
Premises, equipment and right-of-use assets | SFr 6,263 | SFr 6,213 |
Leases (Details)
Leases (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract] | |||
Lease liabilities | SFr 2,652 | SFr 2,740 | SFr 2,759 |
Bank | |||
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract] | |||
Lease liabilities | SFr 1,896 | SFr 1,981 |
Deposits (Details)
Deposits (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Deposits | |||
of which due to banks | SFr 20,948 | SFr 19,422 | SFr 16,423 |
of which customer deposits | 397,298 | SFr 406,069 | 390,921 |
Bank | |||
Deposits | |||
of which due to banks | 20,948 | 16,420 | |
of which customer deposits | SFr 398,323 | SFr 392,039 |
Long-term debt (Details)
Long-term debt (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Long-term debt | |||
Senior | SFr 143,874 | SFr 141,689 | SFr 133,056 |
Subordinated | 25,034 | 27,196 | 26,285 |
Non-recourse liabilities from consolidated VIEs | 1,319 | 1,568 | 1,746 |
Long-term debt | 170,227 | 170,453 | 161,087 |
of which reported at fair value | 69,436 | 72,312 | 70,976 |
Structured notes | |||
Long-term debt | |||
Long-term debt | 45,030 | SFr 48,210 | 47,039 |
Bank | |||
Long-term debt | |||
Senior | 96,726 | 94,768 | |
Subordinated | 66,247 | 63,765 | |
Non-recourse liabilities from consolidated VIEs | 1,319 | 1,746 | |
Long-term debt | 164,292 | 160,279 | |
of which reported at fair value | 68,486 | 70,243 | |
Bank | Structured notes | |||
Long-term debt | |||
Long-term debt | SFr 45,030 | SFr 47,039 |
Long-term debt - Maturities (De
Long-term debt - Maturities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Long-term debt by maturities | |||
Long-term debt | SFr 170,227 | SFr 170,453 | SFr 161,087 |
Structured notes | |||
Long-term debt by maturities | |||
Long-term debt | 45,030 | 48,210 | 47,039 |
Structured notes | Equity | |||
Long-term debt by maturities | |||
Long-term debt | 29,473 | 32,230 | 29,907 |
Structured notes | Fixed income | |||
Long-term debt by maturities | |||
Long-term debt | 12,465 | 12,705 | 13,882 |
Structured notes | Credit | |||
Long-term debt by maturities | |||
Long-term debt | 2,700 | 2,882 | 2,881 |
Structured notes | Other | |||
Long-term debt by maturities | |||
Long-term debt | 392 | SFr 393 | 369 |
Bank | |||
Long-term debt by maturities | |||
Long-term debt | 164,292 | 160,279 | |
Bank | Structured notes | |||
Long-term debt by maturities | |||
Long-term debt | 45,030 | 47,039 | |
Bank | Structured notes | Equity | |||
Long-term debt by maturities | |||
Long-term debt | 29,473 | 29,907 | |
Bank | Structured notes | Fixed income | |||
Long-term debt by maturities | |||
Long-term debt | 12,465 | 13,882 | |
Bank | Structured notes | Credit | |||
Long-term debt by maturities | |||
Long-term debt | 2,700 | 2,881 | |
Bank | Structured notes | Other | |||
Long-term debt by maturities | |||
Long-term debt | SFr 392 | SFr 369 |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | SFr (20,667) | SFr (23,150) | SFr (23,150) | ||
Balance at end of period | (21,697) | (20,667) | (21,697) | ||
Gains/(losses) on cash flow hedges | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 103 | 206 | SFr 253 | 206 | SFr 28 |
Increase/(decrease) | (19) | (91) | 13 | (110) | 168 |
Reclassification adjustments, included in net income | (22) | (12) | 5 | (34) | 75 |
Total increase/(decrease) | (41) | (103) | 18 | (144) | 243 |
Balance at end of period | 62 | 103 | 271 | 62 | 271 |
Cumulative translation adjustments | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (15,534) | (17,528) | (15,064) | (17,528) | (14,469) |
Increase/(decrease) | (471) | 1,994 | (450) | 1,523 | (1,045) |
Reclassification adjustments, included in net income | 0 | 0 | 17 | 0 | 17 |
Total increase/(decrease) | (471) | 1,994 | (433) | 1,523 | (1,028) |
Balance at end of period | (16,005) | (15,534) | (15,497) | (16,005) | (15,497) |
Unrealized gains/(losses) on securities | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 13 | 13 | 28 | 13 | 30 |
Increase/(decrease) | 0 | 0 | (47) | 0 | (52) |
Reclassification adjustments, included in net income | 0 | 0 | 29 | 0 | 32 |
Total increase/(decrease) | 0 | 0 | (18) | 0 | (20) |
Balance at end of period | 13 | 13 | 10 | 13 | 10 |
Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (3,662) | (3,727) | (3,617) | (3,727) | (3,690) |
Increase/(decrease) | (89) | (3) | 0 | (92) | 0 |
Reclassification adjustments, included in net income | 78 | 68 | 73 | 146 | 146 |
Total increase/(decrease) | (11) | 65 | 73 | 54 | 146 |
Balance at end of period | (3,673) | (3,662) | (3,544) | (3,673) | (3,544) |
Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 432 | 456 | 570 | 456 | 604 |
Increase/(decrease) | 0 | 0 | 0 | 0 | 0 |
Reclassification adjustments, included in net income | (24) | (24) | (34) | (48) | (68) |
Total increase/(decrease) | (24) | (24) | (34) | (48) | (68) |
Balance at end of period | 408 | 432 | 536 | 408 | 536 |
Accumulated Gains (Losses) On Liabilities Related To Credit Risk | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (2,019) | (2,570) | 1,578 | (2,570) | (2,772) |
Increase/(decrease) | (514) | 505 | (2,680) | (9) | 1,593 |
Reclassification adjustments, included in net income | 31 | 46 | 22 | 77 | 99 |
Total increase/(decrease) | (483) | 551 | (2,658) | 68 | 1,692 |
Balance at end of period | (2,502) | (2,019) | (1,080) | (2,502) | (1,080) |
Accumulated other comprehensive income | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (20,667) | (23,150) | (16,252) | (23,150) | (20,269) |
Increase/(decrease) | (1,093) | 2,405 | (3,164) | 1,312 | 664 |
Reclassification adjustments, included in net income | 63 | 78 | 112 | 141 | 301 |
Total increase/(decrease) | (1,030) | 2,483 | (3,052) | 1,453 | 965 |
Balance at end of period | (21,697) | (20,667) | (19,304) | (21,697) | (19,304) |
Bank | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (20,239) | (20,239) | |||
Balance at end of period | (18,922) | (18,922) | |||
Bank | Gains/(losses) on cash flow hedges | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 205 | 205 | 28 | ||
Increase/(decrease) | (109) | 168 | |||
Reclassification adjustments, included in net income | (34) | 75 | |||
Total increase/(decrease) | (143) | 243 | |||
Balance at end of period | 62 | 271 | 62 | 271 | |
Bank | Cumulative translation adjustments | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (17,517) | (17,517) | (14,560) | ||
Increase/(decrease) | 1,473 | (1,015) | |||
Reclassification adjustments, included in net income | 0 | 17 | |||
Total increase/(decrease) | 1,473 | (998) | |||
Balance at end of period | (16,044) | (15,558) | (16,044) | (15,558) | |
Bank | Unrealized gains/(losses) on securities | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 13 | 13 | 30 | ||
Increase/(decrease) | 0 | (52) | |||
Reclassification adjustments, included in net income | 0 | 32 | |||
Total increase/(decrease) | 0 | (20) | |||
Balance at end of period | 13 | 10 | 13 | 10 | |
Bank | Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (460) | (460) | (417) | ||
Increase/(decrease) | (85) | 0 | |||
Reclassification adjustments, included in net income | 0 | 7 | |||
Total increase/(decrease) | (85) | 7 | |||
Balance at end of period | (545) | (410) | (545) | (410) | |
Bank | Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (11) | (11) | (7) | ||
Increase/(decrease) | (1) | 0 | |||
Reclassification adjustments, included in net income | 1 | 0 | |||
Total increase/(decrease) | 0 | 0 | |||
Balance at end of period | (11) | (7) | (11) | (7) | |
Bank | Accumulated Gains (Losses) On Liabilities Related To Credit Risk | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (2,469) | (2,469) | (2,620) | ||
Increase/(decrease) | (5) | 1,515 | |||
Reclassification adjustments, included in net income | 77 | 99 | |||
Total increase/(decrease) | 72 | 1,614 | |||
Balance at end of period | (2,397) | (1,006) | (2,397) | (1,006) | |
Bank | Accumulated other comprehensive income | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | SFr (20,239) | (20,239) | (17,546) | ||
Increase/(decrease) | 1,273 | 616 | |||
Reclassification adjustments, included in net income | 44 | 230 | |||
Total increase/(decrease) | 1,317 | 846 | |||
Balance at end of period | SFr (18,922) | SFr (16,700) | SFr (18,922) | SFr (16,700) |
AOCI - Additional share informa
AOCI - Additional share information (Details 2) - SFr / shares | 3 Months Ended | 6 Months Ended | ||||||||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |||||||
Common shares issued | ||||||||||||
Common Stock, Shares, Issued, Beginning Balance | 2,447,747,720 | 2,447,747,720 | 2,556,011,720 | 2,447,747,720 | 2,556,011,720 | |||||||
Issuance of common shares | 203,000,000 | 0 | 0 | 203,000,000 | 0 | |||||||
Common Stock, Shares, Issued, Ending Balance | 2,650,747,720 | 2,447,747,720 | 2,556,011,720 | 2,650,747,720 | 2,556,011,720 | |||||||
Treasury shares | ||||||||||||
Treasury Stock, Shares, Beginning Balance | 83,737,482 | 41,602,841 | 156,996,084 | 41,602,841 | 119,761,811 | |||||||
Sale of treasury shares | 510,392,920 | 552,731,383 | 170,488,741 | 1,063,124,303 | 409,965,327 | |||||||
Issuance of common shares relating to mandatory convertible notes | 203,000,000 | 0 | 0 | 203,000,000 | 0 | |||||||
Conversion of mandatory convertible notes | 106,805 | 0 | 0 | 106,805 | 0 | |||||||
Repurchase of treasury shares | 514,715,462 | 599,319,336 | 172,555,047 | 1,114,034,798 | 452,618,437 | |||||||
Share-based compensation, net of tax | 51,473,883 | 4,453,312 | 44,650,431 | 55,927,195 | 48,002,962 | |||||||
Treasury Stock, Shares, Ending Balance | 239,479,336 | 83,737,482 | 114,411,959 | 239,479,336 | 114,411,959 | |||||||
Common shares outstanding | 2,411,268,384 | [1] | 2,364,010,238 | [2] | 2,441,599,761 | [2] | 2,411,268,384 | [1] | 2,441,599,761 | [2] | 2,406,144,879 | |
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) | [3] | 3,100,747,720 | 3,100,747,720 | 3,100,747,720 | 3,100,747,720 | |||||||
Unissued shares (in shares) | 450,000,000 | 653,000,000 | 653,000,000 | 450,000,000 | 653,000,000 | |||||||
Capital Instrument Reserved | ||||||||||||
Treasury shares | ||||||||||||
Unissued shares (in shares) | 111,524,164 | 111,193,477 | 111,193,477 | 111,524,164 | 111,193,477 | |||||||
Bank | ||||||||||||
Common shares issued | ||||||||||||
Common Stock, Shares, Issued, Beginning Balance | [4] | 4,399,680,200 | 4,399,680,200 | |||||||||
Common Stock, Shares, Issued, Ending Balance | [4] | 4,399,680,200 | 4,399,680,200 | |||||||||
Treasury shares | ||||||||||||
Common shares outstanding | [4] | 4,399,680,200 | 4,399,680,200 | 4,399,680,200 | ||||||||
Par value (in CHF per share) | [4] | 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 450,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments. | |||||||||||
[2] | 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. | |||||||||||
[3] | Includes issued shares and unissued shares (conditional, conversion and authorized capital). | |||||||||||
[4] | The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2021. 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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Reclassification adjustments, included in net income | |||||
Income tax expense/(benefit) | SFr 566 | SFr (526) | SFr 391 | SFr 40 | SFr 281 |
Gains/(losses) on cash flow hedges | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (22) | (12) | 5 | (34) | 75 |
Cumulative translation adjustments | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 0 | 17 | 0 | 17 |
Unrealized gains/(losses) on securities | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 0 | 29 | 0 | 32 |
Accumulated other comprehensive income | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 63 | 78 | 112 | 141 | 301 |
Net prior service credit/ (cost) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (24) | (24) | (34) | (48) | (68) |
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 | (29) | (30) | (41) | (59) | (83) |
Income tax expense/(benefit) | 5 | 6 | 7 | 11 | 15 |
Actuarial gains/(losses) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 78 | 68 | 73 | 146 | 146 |
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 | 95 | 83 | 89 | 178 | 179 |
Income tax expense/(benefit) | SFr (17) | SFr (15) | SFr (16) | (32) | (33) |
Bank | |||||
Reclassification adjustments, included in net income | |||||
Income tax expense/(benefit) | 6 | 244 | |||
Bank | Gains/(losses) on cash flow hedges | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (34) | 75 | |||
Bank | Cumulative translation adjustments | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 17 | |||
Bank | Unrealized gains/(losses) on securities | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 32 | |||
Bank | Accumulated other comprehensive income | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 44 | 230 | |||
Bank | Net prior service credit/ (cost) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 1 | 0 | |||
Bank | Actuarial gains/(losses) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 7 | |||
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 | (2) | 7 | |||
Income tax expense/(benefit) | SFr 2 | SFr 0 |
Offsetting of financial asset_3
Offsetting of financial assets (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 115,400 | SFr 135,000 | |
Offsetting | (101,700) | (120,600) | |
of which counterparty netting | (87,700) | (103,200) | |
of which cash collateral netting | (14,000) | (17,400) | |
Total net derivatives subject to enforceable master netting agreements | 13,700 | 14,400 | |
Total derivatives not subject to enforceable master netting agreements | 10,800 | 11,200 | |
Total net derivatives presented in the consolidated balance sheets | 24,500 | 25,600 | |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | |||
Securities purchased under resale agreements, gross | 74,900 | 55,800 | |
Securities purchased under resale agreements, offsetting | (14,100) | (7,500) | |
Securities purchased under resale agreements, net | 60,800 | 48,300 | |
Securities borrowing transactions, gross | 9,500 | 11,900 | |
Securities borrowing transactions, offsetting | (500) | (400) | |
Securities borrowing transactions, net | 9,000 | 11,500 | |
Total subject to enforceable master netting agreements, gross | 84,400 | 67,700 | |
Total subject to enforceable master netting agreements, offsetting | (14,600) | (7,900) | |
Total subject to enforceable master netting agreements, net | 69,800 | 59,800 | |
Total not subject to enforceable master netting agreements | 24,800 | 19,300 | |
Total, gross | 109,200 | 87,000 | |
Total, net | 94,600 | 79,100 | |
of which reported at fair value | 69,465 | SFr 67,268 | 57,994 |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 13,700 | 14,400 | |
Derivatives, financial instruments | 5,100 | 5,500 | |
Derivatives, cash collateral received/pledged | 0 | 100 | |
Derivatives, net exposure | 8,600 | 8,800 | |
Securities purchased under resale agreements, net | 60,800 | 48,300 | |
Securities purchased under resale agreements, financial instruments | 60,800 | 48,300 | |
Securities purchased under resale agreements, cash collateral received/pledged | 0 | 0 | |
Securities purchased under resale agreements, net exposure | 0 | 0 | |
Securities borrowing transactions, net | 9,000 | 11,500 | |
Securities borrowing transactions, financial instruments | 8,800 | 11,100 | |
Securities borrowing transactions, cash collateral received/pledged | 0 | 0 | |
Securities borrowing transactions, net exposure | 200 | 400 | |
Total financial assets subject to enforceable master netting agreements, net | 83,500 | 74,200 | |
Total financial assets subject to enforceable master netting agreements, financial instruments | 74,700 | 64,900 | |
Total financial assets subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 100 | |
Total financial assets subject to enforceable master netting agreements, net exposure | 8,800 | 9,200 | |
Trading assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 24,100 | 25,500 | |
Other assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 400 | 100 | |
OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 6,400 | 7,000 | |
Offsetting | (5,700) | (6,200) | |
Total net derivatives subject to enforceable master netting agreements | 700 | 800 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 700 | 800 | |
OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 85,700 | 107,500 | |
Offsetting | (74,600) | (94,400) | |
Total net derivatives subject to enforceable master netting agreements | 11,100 | 13,100 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 11,100 | 13,100 | |
Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 23,300 | 20,500 | |
Offsetting | (21,400) | (20,000) | |
Total net derivatives subject to enforceable master netting agreements | 1,900 | 500 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,900 | 500 | |
Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 57,300 | 74,800 | |
Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 5,100 | 6,100 | |
Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 52,100 | 68,200 | |
Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 100 | 500 | |
Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 19,300 | 23,300 | |
Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 200 | 200 | |
Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 19,100 | 23,100 | |
Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 32,500 | 30,600 | |
Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 9,300 | 10,700 | |
Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 23,200 | 19,900 | |
Credit derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 4,800 | 4,600 | |
Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,100 | 700 | |
Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,700 | 3,900 | |
Other products | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,500 | 1,700 | |
Other products | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,500 | 1,600 | |
Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 0 | 100 | |
Bank | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 115,500 | 135,000 | |
Offsetting | (101,800) | (120,600) | |
of which counterparty netting | (87,800) | (103,200) | |
of which cash collateral netting | (14,000) | (17,400) | |
Total net derivatives subject to enforceable master netting agreements | 13,700 | 14,400 | |
Total derivatives not subject to enforceable master netting agreements | 10,800 | 11,200 | |
Total net derivatives presented in the consolidated balance sheets | 24,500 | 25,600 | |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | |||
Securities purchased under resale agreements, gross | 74,900 | 55,800 | |
Securities purchased under resale agreements, offsetting | (14,100) | (7,500) | |
Securities purchased under resale agreements, net | 60,800 | 48,300 | |
Securities borrowing transactions, gross | 9,500 | 11,900 | |
Securities borrowing transactions, offsetting | (500) | (400) | |
Securities borrowing transactions, net | 9,000 | 11,500 | |
Total subject to enforceable master netting agreements, gross | 84,400 | 67,700 | |
Total subject to enforceable master netting agreements, offsetting | (14,600) | (7,900) | |
Total subject to enforceable master netting agreements, net | 69,800 | 59,800 | |
Total not subject to enforceable master netting agreements | 24,800 | 19,300 | |
Total, gross | 109,200 | 87,000 | |
Total, net | 94,600 | 79,100 | |
of which reported at fair value | 69,465 | 57,994 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 13,700 | 14,400 | |
Derivatives, financial instruments | 5,100 | 5,500 | |
Derivatives, cash collateral received/pledged | 0 | 100 | |
Derivatives, net exposure | 8,600 | 8,800 | |
Securities purchased under resale agreements, net | 60,800 | 48,300 | |
Securities purchased under resale agreements, financial instruments | 60,800 | 48,300 | |
Securities purchased under resale agreements, cash collateral received/pledged | 0 | 0 | |
Securities purchased under resale agreements, net exposure | 0 | 0 | |
Securities borrowing transactions, net | 9,000 | 11,500 | |
Securities borrowing transactions, financial instruments | 8,800 | 11,100 | |
Securities borrowing transactions, cash collateral received/pledged | 0 | 0 | |
Securities borrowing transactions, net exposure | 200 | 400 | |
Total financial assets subject to enforceable master netting agreements, net | 83,500 | 74,200 | |
Total financial assets subject to enforceable master netting agreements, financial instruments | 74,700 | 64,900 | |
Total financial assets subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 100 | |
Total financial assets subject to enforceable master netting agreements, net exposure | 8,800 | 9,200 | |
Bank | Trading assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 24,100 | 25,500 | |
Bank | Other assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 400 | 100 | |
Bank | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 6,400 | 7,000 | |
Offsetting | (5,700) | (6,200) | |
Total net derivatives subject to enforceable master netting agreements | 700 | 800 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 700 | 800 | |
Bank | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 85,800 | 107,500 | |
Offsetting | (74,700) | (94,400) | |
Total net derivatives subject to enforceable master netting agreements | 11,100 | 13,100 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 11,100 | 13,100 | |
Bank | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 23,300 | 20,500 | |
Offsetting | (21,400) | (20,000) | |
Total net derivatives subject to enforceable master netting agreements | 1,900 | 500 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,900 | 500 | |
Bank | Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 57,400 | 74,800 | |
Bank | Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 5,100 | 6,100 | |
Bank | Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 52,200 | 68,200 | |
Bank | Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 100 | 500 | |
Bank | Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 19,300 | 23,300 | |
Bank | Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 200 | 200 | |
Bank | Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 19,100 | 23,100 | |
Bank | Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 32,500 | 30,600 | |
Bank | Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 9,300 | 10,700 | |
Bank | Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 23,200 | 19,900 | |
Bank | Credit derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 4,800 | 4,600 | |
Bank | Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,100 | 700 | |
Bank | Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,700 | 3,900 | |
Bank | Other products | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,500 | 1,700 | |
Bank | Other products | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,500 | 1,600 | |
Bank | Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 0 | SFr 100 |
Offsetting of financial liabili
Offsetting of financial liabilities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 116,000 | SFr 140,700 | |
Offsetting | (108,900) | (130,000) | |
of which counterparty netting | (87,700) | (103,200) | |
of which cash collateral netting | (21,200) | (26,800) | |
Total net derivatives subject to enforceable master netting agreements | 7,100 | 10,700 | |
Total derivatives not subject to enforceable master netting agreements | 5,200 | 6,800 | |
Total net derivatives presented in the consolidated balance sheets | 12,300 | 17,500 | |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Securities sold under repurchase agreements, gross | 29,500 | 26,000 | |
Securities sold under repurchase agreements, offsetting | (14,600) | (7,900) | |
Securities sold under repurchase agreements, net | 14,900 | 18,100 | |
Securities lending transactions, gross | 3,000 | 3,500 | |
Securities lending transactions, offsetting | 0 | 0 | |
Securities lending transactions, net | 3,000 | 3,500 | |
Obligation to return securities received as collateral, at fair value, gross | 37,700 | 49,900 | |
Obligation to return securities received as collateral, at fair value, offsetting | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net | 37,700 | 49,900 | |
Total subject to enforceable master netting agreements, gross | 70,200 | 79,400 | |
Total subject to enforceable master netting agreements, offsetting | (14,600) | (7,900) | |
Total subject to enforceable master netting agreements, net | 55,600 | 71,500 | |
Total not subject to enforceable master netting agreements | 4,000 | 3,100 | |
Total, gross | 74,200 | 82,500 | |
Total, net | 59,600 | 74,600 | |
of which reported at fair value | 10,983 | SFr 9,591 | 13,594 |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 7,100 | 10,700 | |
Derivatives, financial instruments | 1,400 | 2,200 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 5,700 | 8,500 | |
Securities sold under repurchase agreements, net | 14,900 | 18,100 | |
Securities sold under repurchase agreements, financial instruments | 14,900 | 18,100 | |
Securities sold under repurchase agreements, cash collateral received/pledged | 0 | 0 | |
Securities sold under repurchase agreements, net exposure | 0 | 0 | |
Securities lending transactions, net | 3,000 | 3,500 | |
Securities lending transactions, financial instruments | 2,600 | 3,200 | |
Securities lending transactions, cash collateral received/pledged | 0 | 0 | |
Securities lending transactions, net exposure | 400 | 300 | |
Obligation to return securities received as collateral, at fair value, net | 37,700 | 49,900 | |
Obligation to return securities received as collateral, financial instruments | 32,400 | 43,400 | |
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 | 5,300 | 6,500 | |
Total financial liabilities subject to enforceable master netting agreements, net | 62,700 | 82,200 | |
Total financial liabilities subject to enforceable master netting agreements, financial instruments | 51,300 | 66,900 | |
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 | 11,400 | 15,300 | |
Trading liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 12,300 | 17,500 | |
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 | (14,600) | (7,900) | |
Total, gross | 35,500 | 31,700 | |
Total, net | 20,900 | 23,800 | |
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 | 38,700 | 50,800 | |
Total, net | 38,700 | 50,800 | |
OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 5,100 | 5,500 | |
Offsetting | (5,000) | (5,400) | |
Total net derivatives subject to enforceable master netting agreements | 100 | 100 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 100 | 100 | |
OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 88,700 | 114,100 | |
Offsetting | (82,400) | (104,300) | |
Total net derivatives subject to enforceable master netting agreements | 6,300 | 9,800 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 6,300 | 9,800 | |
Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 22,200 | 21,100 | |
Offsetting | (21,500) | (20,300) | |
Total net derivatives subject to enforceable master netting agreements | 700 | 800 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 700 | 800 | |
Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 52,400 | 70,900 | |
Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,700 | 4,600 | |
Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 48,600 | 65,700 | |
Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 100 | 600 | |
Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 20,600 | 27,900 | |
Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 200 | 200 | |
Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 20,400 | 27,700 | |
Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 36,200 | 35,500 | |
Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 14,100 | 15,100 | |
Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 22,100 | 20,400 | |
Credit derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 5,900 | 5,600 | |
Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 1,200 | 700 | |
Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 4,700 | 4,900 | |
Other products | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 900 | 800 | |
Other products | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 900 | 700 | |
Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 0 | 100 | |
Bank | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 116,000 | 140,800 | |
Offsetting | (108,900) | (130,100) | |
of which counterparty netting | (87,800) | (103,200) | |
of which cash collateral netting | (21,100) | (26,900) | |
Total net derivatives subject to enforceable master netting agreements | 7,100 | 10,700 | |
Total derivatives not subject to enforceable master netting agreements | 5,200 | 6,800 | |
Total net derivatives presented in the consolidated balance sheets | 12,300 | 17,500 | |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Securities sold under repurchase agreements, gross | 29,600 | 26,100 | |
Securities sold under repurchase agreements, offsetting | (14,600) | (7,900) | |
Securities sold under repurchase agreements, net | 15,000 | 18,200 | |
Securities lending transactions, gross | 3,000 | 3,500 | |
Securities lending transactions, offsetting | 0 | 0 | |
Securities lending transactions, net | 3,000 | 3,500 | |
Obligation to return securities received as collateral, at fair value, gross | 37,700 | 49,900 | |
Obligation to return securities received as collateral, at fair value, offsetting | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net | 37,700 | 49,900 | |
Total subject to enforceable master netting agreements, gross | 70,300 | 79,500 | |
Total subject to enforceable master netting agreements, offsetting | (14,600) | (7,900) | |
Total subject to enforceable master netting agreements, net | 55,700 | 71,600 | |
Total not subject to enforceable master netting agreements | 4,000 | 3,100 | |
Total, gross | 74,300 | 82,600 | |
Total, net | 59,700 | 74,700 | |
of which reported at fair value | 11,080 | 13,688 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 7,100 | 10,700 | |
Derivatives, financial instruments | 1,400 | 2,200 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 5,700 | 8,500 | |
Securities sold under repurchase agreements, net | 15,000 | 18,200 | |
Securities sold under repurchase agreements, financial instruments | 15,000 | 18,200 | |
Securities sold under repurchase agreements, cash collateral received/pledged | 0 | 0 | |
Securities sold under repurchase agreements, net exposure | 0 | 0 | |
Securities lending transactions, net | 3,000 | 3,500 | |
Securities lending transactions, financial instruments | 2,600 | 3,200 | |
Securities lending transactions, cash collateral received/pledged | 0 | 0 | |
Securities lending transactions, net exposure | 400 | 300 | |
Obligation to return securities received as collateral, at fair value, net | 37,700 | 49,900 | |
Obligation to return securities received as collateral, financial instruments | 32,400 | 43,400 | |
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 | 5,300 | 6,500 | |
Total financial liabilities subject to enforceable master netting agreements, net | 62,800 | 82,300 | |
Total financial liabilities subject to enforceable master netting agreements, financial instruments | 51,400 | 67,000 | |
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 | 11,400 | 15,300 | |
Bank | Trading liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 12,300 | 17,500 | |
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 | (14,600) | (7,900) | |
Total, gross | 35,600 | 31,800 | |
Total, net | 21,000 | 23,900 | |
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 | 38,700 | 50,800 | |
Total, net | 38,700 | 50,800 | |
Bank | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 5,100 | 5,500 | |
Offsetting | (5,000) | (5,400) | |
Total net derivatives subject to enforceable master netting agreements | 100 | 100 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 100 | 100 | |
Bank | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 88,700 | 114,200 | |
Offsetting | (82,400) | (104,400) | |
Total net derivatives subject to enforceable master netting agreements | 6,300 | 9,800 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 6,300 | 9,800 | |
Bank | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 22,200 | 21,100 | |
Offsetting | (21,500) | (20,300) | |
Total net derivatives subject to enforceable master netting agreements | 700 | 800 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 700 | 800 | |
Bank | Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 52,400 | 70,900 | |
Bank | Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,700 | 4,600 | |
Bank | Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 48,600 | 65,700 | |
Bank | Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 100 | 600 | |
Bank | Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 20,600 | 27,900 | |
Bank | Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 200 | 200 | |
Bank | Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 20,400 | 27,700 | |
Bank | Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 36,200 | 35,500 | |
Bank | Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 14,100 | 15,100 | |
Bank | Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 22,100 | 20,400 | |
Bank | Credit derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 5,900 | 5,600 | |
Bank | Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 1,200 | 700 | |
Bank | Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 4,700 | 4,900 | |
Bank | Other products | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 900 | 900 | |
Bank | Other products | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 900 | 800 | |
Bank | Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 0 | SFr 100 |
Tax - Income statement related_
Tax - Income statement related/reconciliation of tax rate (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income from continuing operations before taxes (CHF) | |||||
Income/(loss) before taxes | SFr 813 | SFr (757) | SFr 1,551 | SFr 56 | SFr 2,752 |
Current and deferred taxes | |||||
Deferred income tax expense | (302) | 134 | |||
Income tax expense | 566 | (526) | 391 | 40 | 281 |
Reconciliation of taxes computed at the Swiss statutory rate | |||||
Income tax expense computed at the statutory tax rate | SFr 150 | ||||
Swiss statutory rate (as a percent) | 18.50% | ||||
Increase/(decrease) in income taxes resulting from: | |||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | SFr (45) | ||||
Changes in tax law and rates | (31) | ||||
Other non-deductible expenses | 140 | ||||
Lower taxed income | (40) | ||||
of which tax benefit in respect to non-taxable dividend income | 13 | ||||
of which tax benefit related non-taxable life insurance income | 26 | ||||
(Income)/loss taxable to non-controlling interests | (15) | ||||
Changes in deferred tax valuation allowance | 292 | ||||
(Windfall tax benefits)/shortfall tax charges on share-based compensation | 31 | ||||
Other | 54 | ||||
of which tax expense or benefit relating to the (establishment) or release of tax contingency accruals | 5 | ||||
of which tax expense relating to non-recoverable foreign and withholding taxes | 26 | ||||
of which tax (benefit)/charge from the impact of prior year adjustments | (22) | ||||
of which tax expense from own-credit revaluation gains | 7 | ||||
of which tax impact of transitional adjustments arising from adoption of new accounting standards | 25 | ||||
of which tax impact of the US Base Erosion and Anti-abuse Tax (BEAT), for 2021 | 10 | ||||
Income tax expense | 566 | SFr (526) | SFr 391 | 40 | 281 |
Switzerland | |||||
Increase/(decrease) in income taxes resulting from: | |||||
Changes in deferred tax valuation allowance | (18) | ||||
UK | |||||
Increase/(decrease) in income taxes resulting from: | |||||
of which tax rate change | (31) | ||||
Changes in deferred tax valuation allowance | SFr 310 | ||||
Bank | |||||
Income from continuing operations before taxes (CHF) | |||||
Income/(loss) before taxes | 15 | 2,582 | |||
Current and deferred taxes | |||||
Deferred income tax expense | (322) | 110 | |||
Income tax expense | 6 | 244 | |||
Reconciliation of taxes computed at the Swiss statutory rate | |||||
Income tax expense computed at the statutory tax rate | SFr 3 | ||||
Swiss statutory rate (as a percent) | 18.50% | ||||
Increase/(decrease) in income taxes resulting from: | |||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | SFr (50) | ||||
Changes in tax law and rates | (27) | ||||
Other non-deductible expenses | 49 | ||||
Lower taxed income | (7) | ||||
of which tax benefit in respect to non-taxable dividend income | 3 | ||||
of which tax benefit related non-taxable life insurance income | 4 | ||||
(Income)/loss taxable to non-controlling interests | (2) | ||||
Changes in deferred tax valuation allowance | 49 | ||||
(Windfall tax benefits)/shortfall tax charges on share-based compensation | 29 | ||||
Other | (42) | ||||
of which tax expense or benefit relating to the (establishment) or release of tax contingency accruals | (10) | ||||
of which tax expense relating to non-recoverable foreign and withholding taxes | 5 | ||||
of which tax (benefit)/charge from the impact of prior year adjustments | (44) | ||||
of which tax impact of transitional adjustments arising from adoption of new accounting standards | 4 | ||||
of which tax impact of the US Base Erosion and Anti-abuse Tax (BEAT), for 2020 | 1 | ||||
Income tax expense | 6 | SFr 244 | |||
Bank | Switzerland | |||||
Increase/(decrease) in income taxes resulting from: | |||||
Changes in deferred tax valuation allowance | (5) | ||||
Bank | UK | |||||
Increase/(decrease) in income taxes resulting from: | |||||
of which tax rate change | (27) | ||||
Changes in deferred tax valuation allowance | SFr 54 |
Tax - Balance sheet related (De
Tax - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Tax effect of temporary differences | |||
Net operating loss carry-forwards, after allocation of valuation allowances | SFr 1,380 | SFr 1,011 | |
Net deferred tax assets | 3,623 | SFr 3,407 | |
Bank | |||
Tax effect of temporary differences | |||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,371 | SFr 1,064 | |
Net deferred tax assets | SFr 3,991 | SFr 3,473 |
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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Net deferred tax assets | ||||||
Deferred tax assets | SFr 4,201 | SFr 3,964 | SFr 4,201 | SFr 3,667 | ||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,380 | 1,011 | 1,380 | |||
Temporary differences | 2,821 | 2,953 | 2,821 | |||
Deferred tax liabilities | 578 | 557 | 578 | 530 | ||
Deferred Tax Assets (Liabilities), Net | 3,623 | SFr 3,407 | 3,623 | |||
Accumulated undistributed earnings from foreign subsidiaries | SFr 19,400 | SFr 19,400 | ||||
Effective tax rate | ||||||
Effective tax rate (as a percent) | 69.60% | 69.50% | 25.20% | 71.40% | 10.20% | |
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 | 60 | 60 | ||||
Bank | ||||||
Net deferred tax assets | ||||||
Deferred tax assets | 4,155 | 4,155 | 3,630 | |||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,371 | 1,371 | 1,064 | |||
Temporary differences | 2,784 | 2,784 | 2,566 | |||
Deferred tax liabilities | 164 | 164 | 157 | |||
Deferred Tax Assets (Liabilities), Net | 3,991 | 3,991 | SFr 3,473 | |||
Accumulated undistributed earnings from foreign subsidiaries | 19,000 | SFr 19,000 | ||||
Effective tax rate | ||||||
Effective tax rate (as a percent) | 40.00% | 9.50% | ||||
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 60 | SFr 60 |
Deferred compensation expense (
Deferred compensation expense (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 464 | SFr 366 | SFr 512 | SFr 830 | SFr 785 |
Deferred cash awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 102 | 49 | 138 | 151 | 148 |
Retention Awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 26 | 13 | 10 | 39 | 19 |
Contingent Capital Awards (CCA) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 83 | 61 | 100 | 144 | 86 |
Performance shares | Performance share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 111 | 109 | 120 | 220 | 233 |
Stock compensation plan | Share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 142 | SFr 134 | SFr 144 | 276 | 299 |
Bank | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 827 | 754 | |||
Bank | Deferred cash awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 169 | 143 | |||
Bank | Retention Awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 39 | 19 | |||
Bank | Contingent Capital Awards (CCA) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 140 | 83 | |||
Bank | Performance shares | Performance share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 213 | 220 | |||
Bank | Stock compensation plan | Share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 266 | SFr 289 |
Estimated unrecognized deferred
Estimated unrecognized deferred compensation (Details 2) SFr in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2021CHF (SFr) | Jun. 30, 2021CHF (SFr) | |
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 1,977 | SFr 1,977 |
Aggregate remaining weighted-average requisite service period (years) | ||
Aggregate remaining requisite service period (in years) | 1 year 3 months 18 days | |
Deferred cash awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 333 | 333 |
Retention Awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 307 | 307 |
Contingent Capital Awards (CCA) | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 275 | 275 |
Performance shares | Performance share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 392 | 392 |
Stock compensation plan | Share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 670 | 670 |
Bank | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 1,933 | SFr 1,933 |
Aggregate remaining weighted-average requisite service period (years) | ||
Aggregate remaining requisite service period (in years) | 1 year 3 months 18 days | |
Bank | Deferred cash awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 331 | SFr 331 |
Bank | Retention Awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 307 | 307 |
Bank | Contingent Capital Awards (CCA) | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 265 | 265 |
Bank | Performance shares | Performance share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 378 | 378 |
Bank | Stock compensation plan | Share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 652 | SFr 652 |
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, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 1,977 | SFr 1,977 | |
Performance shares | Performance share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 392 | SFr 392 | |
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 | 126.3 | 91.7 | |
Granted (in shares) | 0 | 37.8 | |
Settled (in shares) | (30.1) | (33) | |
Forfeited (in shares) | (0.7) | (1) | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 95.5 | 95.5 | |
of which vested (in shares) | 13.9 | 13.9 | 13.9 |
of which unvested (in shares) | 81.6 | 81.6 | 81.6 |
Stock compensation plan | Share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 670 | SFr 670 | |
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 | 175.1 | 126.3 | |
Granted (in shares) | 24.1 | 78.1 | |
Settled (in shares) | (45.7) | (50.4) | |
Forfeited (in shares) | (2.4) | (2.9) | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 151.1 | 151.1 | |
of which vested (in shares) | 12.8 | 12.8 | 12.8 |
of which unvested (in shares) | 138.3 | 138.3 | 138.3 |
Bank | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 1,933 | SFr 1,933 | |
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 6M21, the Bank granted 36.6 million performance share awards at a weighted-average share price of CHF 12.44. 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 378 | SFr 378 | |
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 12.44 | ||
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 | 88 | ||
Granted (in shares) | 36.6 | ||
Settled (in shares) | (31.8) | ||
Forfeited (in shares) | (1) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 91.8 | 91.8 | |
of which vested (in shares) | 13 | 13 | |
of which unvested (in shares) | 78.8 | 78.8 | |
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 6M21, the Bank granted 76.5 million share awards at a weighted-average share price of CHF 11.52. 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. Under the UK 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 652 | SFr 652 | |
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 11.52 | ||
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 | 115.2 | ||
Granted (in shares) | 76.5 | ||
Settled (in shares) | (47.7) | ||
Forfeited (in shares) | (2.7) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 141.3 | 141.3 | |
of which vested (in shares) | 11.3 | 11.3 | |
of which unvested (in shares) | 130 | 130 | |
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, 2021CHF (SFr) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 1,977 |
Contingent Capital Awards (CCA) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | 275 |
Bank | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 1,933 |
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 6M21, the Bank awarded CHF 245 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 245 |
Estimated unrecognized compensation expense | SFr 265 |
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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Compensation expense relating to deferred compensation | SFr 464 | SFr 366 | SFr 512 | SFr 830 | SFr 785 | |
Estimated unrecognized compensation expense | 1,977 | 1,977 | ||||
Retention Awards | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Compensation expense relating to deferred compensation | 26 | 13 | 10 | 39 | 19 | |
Estimated unrecognized compensation expense | 307 | 307 | ||||
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 | 235 | SFr 235 | SFr 24 | |||
Compensation expense relating to deferred compensation | 26 | |||||
Compensation expense relating to deferred compensation, of which granted in current year | 9 | |||||
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 2Q21, the Group granted deferred cash and share retention awards of CHF 235 million, mainly in the Investment Bank division. These awards will be expensed over the applicable vesting period from the grant date. Amortization of retention awards in 2Q21 totaled CHF 26 million, of which CHF 9 million was related to awards granted in 2Q21. In 3Q21, the Group granted deferred share retention awards of CHF 24 million in the Investment Bank division. These awards will be expensed over the applicable vesting period from the grant date. | |||||
Deferred cash awards | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Compensation expense relating to deferred compensation | 102 | SFr 49 | SFr 138 | SFr 151 | 148 | |
Estimated unrecognized compensation expense | 333 | 333 | ||||
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 | 12 | SFr 12 | 95 | |||
Compensation expense relating to deferred compensation | 32 | |||||
Compensation expense relating to deferred compensation, of which granted in current year | 3 | |||||
Deferred fixed cash 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 2Q21, the Group granted deferred fixed cash compensation of CHF 12 million to certain employees in the Americas. This compensation will be expensed mainly in the Investment Bank division over a three-year vesting period from the grant date. Amortization of this compensation in 2Q21 totaled CHF 32 million, of which CHF 3 million was related to awards granted in 2Q21. In 3Q21, the Group granted deferred fixed cash compensation of CHF 95 million to certain employees in the Americas. This compensation will be expensed mainly in the Investment Bank division over a three-year vesting period from the grant date. | |||||
Bank | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Compensation expense relating to deferred compensation | SFr 827 | 754 | ||||
Estimated unrecognized compensation expense | 1,933 | SFr 1,933 | ||||
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 6M21, the Bank granted deferred fixed cash compensation of CHF 163 million to certain employees in the Americas. This compensation will be expensed in the Investment Bank and International Wealth Management divisions over a three-year vesting period from the grant date. Amortization of this compensation in 6M21 totaled CHF 67 million, of which CHF 44 million was related to awards granted in 6M21. In 3Q21, the Bank granted deferred fixed cash compensation of CHF 95 million to certain employees in the Americas. This compensation will be expensed mainly in the Investment Bank division over a three-year vesting period from the grant date. | |||||
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 39 | 19 | ||||
Estimated unrecognized compensation expense | 307 | 307 | ||||
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 | 59 | 59 | ||||
Compensation expense relating to deferred compensation | 43 | |||||
Compensation expense relating to deferred compensation, of which granted in current year | SFr 15 | |||||
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 6M21, the Bank granted upfront cash awards of CHF 59 million to certain managing directors and directors in the International Wealth Management division. Amortization of this compensation in 6M21 totaled CHF 43 million, of which CHF 15 million was related to awards granted in 6M21. | |||||
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 | 322 | SFr 322 | 24 | |||
Compensation expense relating to deferred compensation | 39 | |||||
Compensation expense relating to deferred compensation, of which granted in current year | SFr 31 | |||||
Bank | 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 6M21, the Bank granted deferred cash and share retention awards of CHF 322 million, mainly in the Investment Bank division. These awards will be expensed over the applicable vesting period from the grant date. Amortization of retention awards in 6M21 totaled CHF 39 million, of which CHF 31 million was related to awards granted in 6M21. In 3Q21, the Bank granted deferred share retention awards of CHF 24 million in the Investment Bank division. These awards will be expensed over the applicable vesting period from the grant date. | |||||
Bank | Deferred cash awards | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Compensation expense relating to deferred compensation | SFr 169 | SFr 143 | ||||
Estimated unrecognized compensation expense | 331 | 331 | ||||
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 163 | 163 | SFr 95 | |||
Compensation expense relating to deferred compensation | 67 | |||||
Compensation expense relating to deferred compensation, of which granted in current year | SFr 44 |
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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Total benefit costs | ||||||
Service costs on benefit obligation | SFr 60 | SFr 60 | SFr 55 | SFr 120 | SFr 109 | |
Interest costs on benefit obligation | 15 | 15 | 23 | 30 | 47 | |
Expected return on plan assets | (120) | (123) | (109) | (243) | (219) | |
Amortization of recognized prior service cost/(credit) | (31) | (29) | (41) | (60) | (83) | |
Amortization of recognized actuarial losses/(gains) | 93 | 93 | 87 | 186 | 174 | |
Settlement losses/(gains) | 2 | (10) | 2 | (8) | 5 | |
Curtailment losses/(gains) | 2 | (1) | 0 | 1 | 0 | |
Special termination benefits | 3 | 10 | 0 | 13 | 3 | |
Net periodic benefit/(costs) | 24 | 15 | 17 | 39 | 36 | |
PBO | ||||||
Service costs | 60 | 60 | 55 | 120 | 109 | |
Interest costs | 15 | 15 | 23 | 30 | 47 | |
Total amount recognized | ||||||
Noncurrent assets | 3,047 | 3,073 | 3,047 | SFr 2,872 | ||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions expected to be made by the company by the end of the current fiscal year | 338 | 338 | ||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | 180 | |||||
Defined benefit and defined contribution | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 120 | 130 | 113 | 250 | 263 | |
PBO | ||||||
Service costs | 120 | SFr 130 | SFr 113 | 250 | 263 | |
Bank | ||||||
Total amount recognized | ||||||
Noncurrent assets | SFr 910 | 910 | SFr 975 | |||
Bank | Defined benefit and defined contribution | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 250 | 272 | ||||
PBO | ||||||
Service costs | 250 | 272 | ||||
Bank | International | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 7 | 8 | ||||
Interest costs on benefit obligation | 25 | 37 | ||||
Expected return on plan assets | (34) | (44) | ||||
Amortization of recognized prior service cost/(credit) | 1 | 1 | ||||
Amortization of recognized actuarial losses/(gains) | 8 | 7 | ||||
Settlement losses/(gains) | (10) | 0 | ||||
Net periodic benefit/(costs) | (3) | 9 | ||||
PBO | ||||||
Service costs | 7 | 8 | ||||
Interest costs | 25 | SFr 37 | ||||
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 | 16 | |||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | 10 | |||||
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 5 |
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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure | |||||
Contributions made by the Entity to defined contribution pension plans | SFr 60 | SFr 70 | SFr 58 | SFr 130 | SFr 154 |
Bank | |||||
Defined Contribution Pension and Other Postretirement Plans Disclosure | |||||
Contributions made by the Entity to defined contribution pension plans | SFr 243 | SFr 264 |
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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr (89) | SFr (3) | SFr 0 | SFr (92) | SFr 0 |
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 0 | 0 | 0 |
Bank | Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | (85) | 0 | |||
Bank | Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr (1) | 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, 2021 | Dec. 31, 2020 | |
Fair value of derivative instruments | ||
Notional amount | SFr 18,185.1 | SFr 17,735.7 |
Positive replacement value (PRV) | 126.2 | 146.2 |
Negative replacement value (NRV) | SFr 121.2 | 147.5 |
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 18,023.5 | 17,595.7 |
Positive replacement value (PRV) | 125.3 | 145.2 |
Negative replacement value (NRV) | 120.9 | 147.3 |
Not designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 14,717.9 | 14,690.6 |
Positive replacement value (PRV) | 57.8 | 74.9 |
Negative replacement value (NRV) | 53.4 | 71.6 |
Not designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 4,305.9 | 5,221.5 |
Positive replacement value (PRV) | 1.4 | 2.7 |
Negative replacement value (NRV) | 1.3 | 2.8 |
Not designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 9,045.8 | 8,087.8 |
Positive replacement value (PRV) | 43.3 | 53.5 |
Negative replacement value (NRV) | 39.1 | 50.2 |
Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 884.8 | 968.6 |
Positive replacement value (PRV) | 13 | 18.2 |
Negative replacement value (NRV) | 12.8 | 18 |
Not designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 341.3 | 296.6 |
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 | 140.1 | 116.1 |
Positive replacement value (PRV) | 0.1 | 0.5 |
Negative replacement value (NRV) | 0.2 | 0.6 |
Not designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 1,609.8 | 1,520.3 |
Positive replacement value (PRV) | 19.8 | 24.4 |
Negative replacement value (NRV) | 21.1 | 28.9 |
Not designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 996.1 | 928.4 |
Positive replacement value (PRV) | 7.8 | 10.1 |
Negative replacement value (NRV) | 6.6 | 11.8 |
Not designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 355.3 | 345.8 |
Positive replacement value (PRV) | 9.6 | 10.9 |
Negative replacement value (NRV) | 11.8 | 13.4 |
Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 240.3 | 236.3 |
Positive replacement value (PRV) | 2.4 | 3.4 |
Negative replacement value (NRV) | 2.7 | 3.7 |
Not designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 17.5 | 8.8 |
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 | 0.6 | 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 | 594.3 | 467.8 |
Positive replacement value (PRV) | 5.1 | 4.9 |
Negative replacement value (NRV) | 6.3 | 6 |
Not designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 1,031 | 864.4 |
Positive replacement value (PRV) | 40.9 | 39.2 |
Negative replacement value (NRV) | 39 | 39.8 |
Not designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1 | 1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0.3 | 0.3 |
Not designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 121.3 | 167.6 |
Positive replacement value (PRV) | 1.9 | 4.3 |
Negative replacement value (NRV) | 4.7 | 8.8 |
Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 258.8 | 218.3 |
Positive replacement value (PRV) | 15.7 | 14.9 |
Negative replacement value (NRV) | 11.8 | 10 |
Not designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 41.6 | 23.5 |
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 | 608.3 | 454 |
Positive replacement value (PRV) | 23.3 | 20 |
Negative replacement value (NRV) | 22.2 | 20.7 |
Not designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 70.5 | 52.6 |
Positive replacement value (PRV) | 1.7 | 1.8 |
Negative replacement value (NRV) | 1.1 | 1 |
Not designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 16 | 12.2 |
Positive replacement value (PRV) | 0.2 | 0.3 |
Negative replacement value (NRV) | 0.2 | 0.2 |
Not designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 11.4 | 9.8 |
Positive replacement value (PRV) | 1.1 | 1.1 |
Negative replacement value (NRV) | 0.6 | 0.5 |
Not designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 18.4 | 14.8 |
Positive replacement value (PRV) | 0.3 | 0.3 |
Negative replacement value (NRV) | 0.2 | 0.2 |
Not designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 12.9 | 4.2 |
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 | 11.8 | 11.6 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | 161.6 | 140 |
Positive replacement value (PRV) | 0.9 | 1 |
Negative replacement value (NRV) | 0.3 | 0.2 |
Designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 140.6 | 126.1 |
Positive replacement value (PRV) | 0.7 | 0.9 |
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 | 140.6 | 126.1 |
Positive replacement value (PRV) | 0.7 | 0.9 |
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 | 21 | 13.9 |
Positive replacement value (PRV) | 0.2 | 0.1 |
Negative replacement value (NRV) | 0.2 | 0.1 |
Designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 21 | 13.9 |
Positive replacement value (PRV) | 0.2 | 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) | 0.2 | 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 | 18,189.5 | 17,736.6 |
Positive replacement value (PRV) | 126.3 | 146.2 |
Negative replacement value (NRV) | SFr 121.2 | 147.6 |
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 18,031.4 | 17,596.6 |
Positive replacement value (PRV) | 125.4 | 145.2 |
Negative replacement value (NRV) | 120.9 | 147.4 |
Bank | Not designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 14,725.8 | 14,691.5 |
Positive replacement value (PRV) | 57.9 | 74.9 |
Negative replacement value (NRV) | 53.4 | 71.7 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 4,305.9 | 5,221.5 |
Positive replacement value (PRV) | 1.4 | 2.7 |
Negative replacement value (NRV) | 1.3 | 2.8 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 9,053.7 | 8,088.7 |
Positive replacement value (PRV) | 43.4 | 53.5 |
Negative replacement value (NRV) | 39.1 | 50.3 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 884.8 | 968.6 |
Positive replacement value (PRV) | 13 | 18.2 |
Negative replacement value (NRV) | 12.8 | 18 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 341.3 | 296.6 |
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 | 140.1 | 116.1 |
Positive replacement value (PRV) | 0.1 | 0.5 |
Negative replacement value (NRV) | 0.2 | 0.6 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 1,609.8 | 1,520.3 |
Positive replacement value (PRV) | 19.8 | 24.4 |
Negative replacement value (NRV) | 21.1 | 28.9 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 996.1 | 928.4 |
Positive replacement value (PRV) | 7.8 | 10.1 |
Negative replacement value (NRV) | 6.6 | 11.8 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 355.3 | 345.8 |
Positive replacement value (PRV) | 9.6 | 10.9 |
Negative replacement value (NRV) | 11.8 | 13.4 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 240.3 | 236.3 |
Positive replacement value (PRV) | 2.4 | 3.4 |
Negative replacement value (NRV) | 2.7 | 3.7 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 17.5 | 8.8 |
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 | 0.6 | 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 | 594.3 | 467.8 |
Positive replacement value (PRV) | 5.1 | 4.9 |
Negative replacement value (NRV) | 6.3 | 6 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 1,031 | 864.4 |
Positive replacement value (PRV) | 40.9 | 39.2 |
Negative replacement value (NRV) | 39 | 39.8 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1 | 1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0.3 | 0.3 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 121.3 | 167.6 |
Positive replacement value (PRV) | 1.9 | 4.3 |
Negative replacement value (NRV) | 4.7 | 8.8 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 258.8 | 218.3 |
Positive replacement value (PRV) | 15.7 | 14.9 |
Negative replacement value (NRV) | 11.8 | 10 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 41.6 | 23.5 |
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 | 608.3 | 454 |
Positive replacement value (PRV) | 23.3 | 20 |
Negative replacement value (NRV) | 22.2 | 20.7 |
Bank | Not designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 70.5 | 52.6 |
Positive replacement value (PRV) | 1.7 | 1.8 |
Negative replacement value (NRV) | 1.1 | 1 |
Bank | Not designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 16 | 12.2 |
Positive replacement value (PRV) | 0.2 | 0.3 |
Negative replacement value (NRV) | 0.2 | 0.2 |
Bank | Not designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 11.4 | 9.8 |
Positive replacement value (PRV) | 1.1 | 1.1 |
Negative replacement value (NRV) | 0.6 | 0.5 |
Bank | Not designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 18.4 | 14.8 |
Positive replacement value (PRV) | 0.3 | 0.3 |
Negative replacement value (NRV) | 0.2 | 0.2 |
Bank | Not designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 12.9 | 4.2 |
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 | 11.8 | 11.6 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Bank | Designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | 158.1 | 140 |
Positive replacement value (PRV) | 0.9 | 1 |
Negative replacement value (NRV) | 0.3 | 0.2 |
Bank | Designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 137.1 | 126.1 |
Positive replacement value (PRV) | 0.7 | 0.9 |
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 | 137.1 | 126.1 |
Positive replacement value (PRV) | 0.7 | 0.9 |
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 | 21 | 13.9 |
Positive replacement value (PRV) | 0.2 | 0.1 |
Negative replacement value (NRV) | 0.2 | 0.1 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 21 | 13.9 |
Positive replacement value (PRV) | 0.2 | 0.1 |
Negative replacement value (NRV) | 0.2 | 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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Fair value hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Hedged items | SFr (288) | SFr 1,156 | SFr (205) | SFr 868 | SFr (2,374) |
Derivatives designated as hedging instruments | 264 | (1,096) | 212 | (832) | 2,226 |
Cash flow hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Expected reclassification of net gains/(losses) from AOCI into earnings during the next 12 months | 50 | ||||
Cash flow hedges | Trading Revenue [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Gain (Loss) from Components Excluded from Assessment of Cash Flow Hedge Effectiveness, Net | 0 | 0 | 0 | 0 | 1 |
Cash flow hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (23) | (96) | 21 | (119) | 288 |
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 | 7 | 3 | 0 | 10 | (42) |
Cash flow hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 0 | 4 | (5) | 4 | (84) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 15 | 10 | (5) | 25 | (41) |
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 | 0 | 0 | 0 | (30) |
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 | 15 | 10 | (5) | 25 | (11) |
Net investment hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 7 | (262) | (38) | (255) | 481 |
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 0 | SFr 0 | SFr 9 | 0 | 9 |
Bank | Fair value hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Hedged items | 776 | (2,374) | |||
Derivatives designated as hedging instruments | (740) | 2,226 | |||
Bank | Cash flow hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Expected reclassification of net gains/(losses) from AOCI into earnings during the next 12 months | 50 | ||||
Bank | 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 | |||
Bank | Cash flow hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (119) | 288 | |||
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 | 10 | (42) | |||
Bank | Cash flow hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 4 | (84) | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 25 | (41) | |||
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 | 0 | (30) | |||
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 | 25 | (11) | |||
Bank | Net investment hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (248) | 476 | |||
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 0 | SFr 9 |
Derivatives and hedging activ_5
Derivatives and hedging activities - Contingent credit risk (Details 3) - CHF (SFr) SFr in Billions | Jun. 30, 2021 | Dec. 31, 2020 |
Contingent credit risk | ||
Current net exposure | SFr 2.8 | SFr 3.4 |
Collateral posted | 2.1 | 2.4 |
Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.6 | 0.7 |
Bilateral counterparties | ||
Contingent credit risk | ||
Current net exposure | 2.4 | 3 |
Collateral posted | 2.1 | 2.4 |
Bilateral counterparties | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.5 | 0.5 |
Special purpose entities | ||
Contingent credit risk | ||
Current net exposure | 0 | 0 |
Collateral posted | 0 | 0 |
Special purpose entities | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Accelerated terminations | ||
Contingent credit risk | ||
Current net exposure | 0.4 | 0.4 |
Accelerated terminations | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.2 |
Bank | ||
Contingent credit risk | ||
Current net exposure | 2.8 | 3.4 |
Collateral posted | 2.1 | 2.4 |
Bank | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.6 | 0.7 |
Bank | Bilateral counterparties | ||
Contingent credit risk | ||
Current net exposure | 2.4 | 3 |
Collateral posted | 2.1 | 2.4 |
Bank | Bilateral counterparties | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.5 | 0.5 |
Bank | Special purpose entities | ||
Contingent credit risk | ||
Current net exposure | 0 | 0 |
Collateral posted | 0 | 0 |
Bank | Special purpose entities | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Bank | Accelerated terminations | ||
Contingent credit risk | ||
Current net exposure | 0.4 | 0.4 |
Bank | Accelerated terminations | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | SFr 0.1 | SFr 0.2 |
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, 2020 | Jun. 30, 2021 | |
Credit protection sold/purchased | ||
Credit protection sold | SFr (204.8) | SFr (263.4) |
Credit protection purchased | 189.4 | 251.2 |
Net credit protection (sold)/purchased | (15.4) | (12.2) |
Other protection purchased | 59.2 | 65.4 |
Fair value of credit protection sold | 0.4 | 1 |
Total return swaps | ||
Credit protection sold/purchased | ||
Credit protection sold | (14.4) | (14.3) |
Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (43.6) | (54.6) |
Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (145.3) | (191.8) |
Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (15.9) | (17) |
Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (12.5) | (13.1) |
Credit protection purchased | 11.6 | 12 |
Net credit protection (sold)/purchased | (0.9) | (1.1) |
Other protection purchased | 5.3 | 5.3 |
Fair value of credit protection sold | 0 | 0 |
Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (192.3) | (250.3) |
Credit protection purchased | 177.8 | 239.2 |
Net credit protection (sold)/purchased | (14.5) | (11.1) |
Other protection purchased | 53.9 | 60.1 |
Fair value of credit protection sold | 0.4 | 1 |
Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (152) | (197) |
Credit protection purchased | 143 | 189.1 |
Net credit protection (sold)/purchased | (9) | (7.9) |
Other protection purchased | 36.1 | 40.5 |
Fair value of credit protection sold | (0.2) | 0.1 |
Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (52.8) | (66.4) |
Credit protection purchased | 46.4 | 62.1 |
Net credit protection (sold)/purchased | (6.4) | (4.3) |
Other protection purchased | 23.1 | 24.9 |
Fair value of credit protection sold | 0.6 | 0.9 |
Single-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (81) | (87.7) |
Credit protection purchased | 74.3 | 82.5 |
Net credit protection (sold)/purchased | (6.7) | (5.2) |
Other protection purchased | 24.8 | 23.4 |
Fair value of credit protection sold | 0.9 | 1.1 |
Single-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (14) | (13.7) |
Single-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (62.7) | (69.9) |
Single-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (4.3) | (4.1) |
Single-name instruments | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (12.5) | (13.1) |
Credit protection purchased | 11.6 | 12 |
Net credit protection (sold)/purchased | (0.9) | (1.1) |
Other protection purchased | 5.3 | 5.3 |
Fair value of credit protection sold | 0 | 0 |
Single-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (68.5) | (74.6) |
Credit protection purchased | 62.7 | 70.5 |
Net credit protection (sold)/purchased | (5.8) | (4.1) |
Other protection purchased | 19.5 | 18.1 |
Fair value of credit protection sold | 0.9 | 1.1 |
Single-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (52.5) | (55.4) |
Credit protection purchased | 47.8 | 52.3 |
Net credit protection (sold)/purchased | (4.7) | (3.1) |
Other protection purchased | 13 | 11.7 |
Fair value of credit protection sold | 0.5 | 0.5 |
Single-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (28.5) | (32.3) |
Credit protection purchased | 26.5 | 30.2 |
Net credit protection (sold)/purchased | (2) | (2.1) |
Other protection purchased | 11.8 | 11.7 |
Fair value of credit protection sold | 0.4 | 0.6 |
Multi-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (123.8) | (175.7) |
Credit protection purchased | 115.1 | 168.7 |
Net credit protection (sold)/purchased | (8.7) | (7) |
Other protection purchased | 34.4 | 42 |
Fair value of credit protection sold | (0.5) | (0.1) |
Multi-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (29.6) | (40.9) |
Multi-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (82.6) | (121.9) |
Multi-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (11.6) | (12.9) |
Multi-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (123.8) | (175.7) |
Credit protection purchased | 115.1 | 168.7 |
Net credit protection (sold)/purchased | (8.7) | (7) |
Other protection purchased | 34.4 | 42 |
Fair value of credit protection sold | (0.5) | (0.1) |
Multi-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (99.5) | (141.6) |
Credit protection purchased | 95.2 | 136.8 |
Net credit protection (sold)/purchased | (4.3) | (4.8) |
Other protection purchased | 23.1 | 28.8 |
Fair value of credit protection sold | (0.7) | (0.4) |
Multi-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (24.3) | (34.1) |
Credit protection purchased | 19.9 | 31.9 |
Net credit protection (sold)/purchased | (4.4) | (2.2) |
Other protection purchased | 11.3 | 13.2 |
Fair value of credit protection sold | 0.2 | 0.3 |
Bank | ||
Credit protection sold/purchased | ||
Credit protection sold | (204.8) | (263.4) |
Credit protection purchased | 189.4 | 251.2 |
Net credit protection (sold)/purchased | (15.4) | (12.2) |
Other protection purchased | 59.2 | 65.4 |
Fair value of credit protection sold | 0.4 | 1 |
Bank | Total return swaps | ||
Credit protection sold/purchased | ||
Credit protection sold | (14.4) | (14.3) |
Bank | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (43.6) | (54.6) |
Bank | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (145.3) | (191.8) |
Bank | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (15.9) | (17) |
Bank | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (12.5) | (13.1) |
Credit protection purchased | 11.6 | 12 |
Net credit protection (sold)/purchased | (0.9) | (1.1) |
Other protection purchased | 5.3 | 5.3 |
Fair value of credit protection sold | 0 | 0 |
Bank | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (192.3) | (250.3) |
Credit protection purchased | 177.8 | 239.2 |
Net credit protection (sold)/purchased | (14.5) | (11.1) |
Other protection purchased | 53.9 | 60.1 |
Fair value of credit protection sold | 0.4 | 1 |
Bank | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (152) | (197) |
Credit protection purchased | 143 | 189.1 |
Net credit protection (sold)/purchased | (9) | (7.9) |
Other protection purchased | 36.1 | 40.5 |
Fair value of credit protection sold | (0.2) | 0.1 |
Bank | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (52.8) | (66.4) |
Credit protection purchased | 46.4 | 62.1 |
Net credit protection (sold)/purchased | (6.4) | (4.3) |
Other protection purchased | 23.1 | 24.9 |
Fair value of credit protection sold | 0.6 | 0.9 |
Bank | Single-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (81) | (87.7) |
Credit protection purchased | 74.3 | 82.5 |
Net credit protection (sold)/purchased | (6.7) | (5.2) |
Other protection purchased | 24.8 | 23.4 |
Fair value of credit protection sold | 0.9 | 1.1 |
Bank | Single-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (14) | (13.7) |
Bank | Single-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (62.7) | (69.9) |
Bank | Single-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (4.3) | (4.1) |
Bank | Single-name instruments | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (12.5) | (13.1) |
Credit protection purchased | 11.6 | 12 |
Net credit protection (sold)/purchased | (0.9) | (1.1) |
Other protection purchased | 5.3 | 5.3 |
Fair value of credit protection sold | 0 | 0 |
Bank | Single-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (68.5) | (74.6) |
Credit protection purchased | 62.7 | 70.5 |
Net credit protection (sold)/purchased | (5.8) | (4.1) |
Other protection purchased | 19.5 | 18.1 |
Fair value of credit protection sold | 0.9 | 1.1 |
Bank | Single-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (52.5) | (55.4) |
Credit protection purchased | 47.8 | 52.3 |
Net credit protection (sold)/purchased | (4.7) | (3.1) |
Other protection purchased | 13 | 11.7 |
Fair value of credit protection sold | 0.5 | 0.5 |
Bank | Single-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (28.5) | (32.3) |
Credit protection purchased | 26.5 | 30.2 |
Net credit protection (sold)/purchased | (2) | (2.1) |
Other protection purchased | 11.8 | 11.7 |
Fair value of credit protection sold | 0.4 | 0.6 |
Bank | Multi-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (123.8) | (175.7) |
Credit protection purchased | 115.1 | 168.7 |
Net credit protection (sold)/purchased | (8.7) | (7) |
Other protection purchased | 34.4 | 42 |
Fair value of credit protection sold | (0.5) | (0.1) |
Bank | Multi-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (29.6) | (40.9) |
Bank | Multi-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (82.6) | (121.9) |
Bank | Multi-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (11.6) | (12.9) |
Bank | Multi-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (123.8) | (175.7) |
Credit protection purchased | 115.1 | 168.7 |
Net credit protection (sold)/purchased | (8.7) | (7) |
Other protection purchased | 34.4 | 42 |
Fair value of credit protection sold | (0.5) | (0.1) |
Bank | Multi-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (99.5) | (141.6) |
Credit protection purchased | 95.2 | 136.8 |
Net credit protection (sold)/purchased | (4.3) | (4.8) |
Other protection purchased | 23.1 | 28.8 |
Fair value of credit protection sold | (0.7) | (0.4) |
Bank | Multi-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (24.3) | (34.1) |
Credit protection purchased | 19.9 | 31.9 |
Net credit protection (sold)/purchased | (4.4) | (2.2) |
Other protection purchased | 11.3 | 13.2 |
Fair value of credit protection sold | SFr 0.2 | 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, 2020 | Jun. 30, 2021 | |
Credit Derivatives [Line Items] | ||
Credit protection sold | SFr 204.8 | SFr 263.4 |
Credit protection purchased | 189.4 | 251.2 |
Other protection purchased | 59.2 | 65.4 |
Other instruments | 14.4 | 14.3 |
Total credit derivatives | 467.8 | 594.3 |
Bank | ||
Credit Derivatives [Line Items] | ||
Credit protection sold | 204.8 | 263.4 |
Credit protection purchased | 189.4 | 251.2 |
Other protection purchased | 59.2 | 65.4 |
Other instruments | 14.4 | 14.3 |
Total credit derivatives | SFr 467.8 | SFr 594.3 |
Derivatives and hedging activ_8
Derivatives and hedging activities (Details 6) - CHF (SFr) SFr in Billions | Jun. 30, 2021 | Dec. 31, 2020 |
Investment securities | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | SFr 0.6 | SFr 0.4 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 0 | 0 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0 | 0 |
Long-term debt | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Liability, Fair Value Hedge | 75.5 | 65.8 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | 0.8 | 1.9 |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0.7 | 0.8 |
Net loans | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | 21.6 | 20.5 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | (0.1) | 0.2 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0.4 | 0.5 |
Bank | Investment securities | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | 0.6 | 0.4 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 0 | 0 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0 | 0 |
Bank | Long-term debt | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Liability, Fair Value Hedge | 72.1 | 65.8 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | 0.9 | 1.9 |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0.7 | 0.8 |
Bank | Net loans | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | 21.6 | 20.5 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | (0.1) | 0.2 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | SFr 0.4 | SFr 0.5 |
Guarantees and commitments - Gu
Guarantees and commitments - Guarantees maturity (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Guarantees | ||
Maturity less than 1 year | SFr 22,079 | SFr 19,338 |
Maturity greater than 1 year | 11,888 | 12,989 |
Total gross amount | 33,967 | 32,327 |
Total net amount | 32,730 | 31,320 |
Carrying value | 522 | 522 |
Collateral received | 8,606 | 7,897 |
Credit guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 2,411 | 1,645 |
Maturity greater than 1 year | 1,921 | 1,434 |
Total gross amount | 4,332 | 3,079 |
Total net amount | 4,268 | 3,016 |
Carrying value | 20 | 27 |
Collateral received | 2,195 | 1,637 |
Performance guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 4,484 | 3,607 |
Maturity greater than 1 year | 2,868 | 2,925 |
Total gross amount | 7,352 | 6,532 |
Total net amount | 6,223 | 5,601 |
Carrying value | 38 | 30 |
Collateral received | 2,706 | 2,535 |
Derivatives | ||
Guarantees | ||
Maturity less than 1 year | 11,082 | 10,531 |
Maturity greater than 1 year | 4,968 | 6,042 |
Total gross amount | 16,050 | 16,573 |
Total net amount | 16,050 | 16,573 |
Carrying value | 403 | 380 |
Other guarantees | ||
Guarantees | ||
Maturity less than 1 year | 4,102 | 3,555 |
Maturity greater than 1 year | 2,131 | 2,588 |
Total gross amount | 6,233 | 6,143 |
Total net amount | 6,189 | 6,130 |
Carrying value | 61 | 85 |
Collateral received | 3,705 | 3,725 |
Bank | ||
Guarantees | ||
Maturity less than 1 year | 22,079 | 19,338 |
Maturity greater than 1 year | 11,892 | 12,993 |
Total gross amount | 33,971 | 32,331 |
Total net amount | 32,734 | 31,324 |
Carrying value | 522 | 522 |
Collateral received | 8,606 | 7,897 |
Bank | Credit guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 2,411 | 1,645 |
Maturity greater than 1 year | 1,925 | 1,438 |
Total gross amount | 4,336 | 3,083 |
Total net amount | 4,272 | 3,020 |
Carrying value | 20 | 27 |
Collateral received | 2,195 | 1,637 |
Bank | Performance guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 4,484 | 3,607 |
Maturity greater than 1 year | 2,868 | 2,925 |
Total gross amount | 7,352 | 6,532 |
Total net amount | 6,223 | 5,601 |
Carrying value | 38 | 30 |
Collateral received | 2,706 | 2,535 |
Bank | Derivatives | ||
Guarantees | ||
Maturity less than 1 year | 11,082 | 10,531 |
Maturity greater than 1 year | 4,968 | 6,042 |
Total gross amount | 16,050 | 16,573 |
Total net amount | 16,050 | 16,573 |
Carrying value | 403 | 380 |
Bank | Other guarantees | ||
Guarantees | ||
Maturity less than 1 year | 4,102 | 3,555 |
Maturity greater than 1 year | 2,131 | 2,588 |
Total gross amount | 6,233 | 6,143 |
Total net amount | 6,189 | 6,130 |
Carrying value | 61 | 85 |
Collateral received | SFr 3,705 | SFr 3,725 |
Guarantees and commitments - Ot
Guarantees and commitments - Other guarantees (Details 2) - CHF (SFr) SFr in Billions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Jun. 30, 2021 | |
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 | |
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 |
Guarantees and commitments - _2
Guarantees and commitments - Other commitments maturity (Details 7) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Other commitments | ||
Maturity less than 1 year | SFr 31,096 | SFr 23,880 |
Maturity greater than 1 year | 105,515 | 101,114 |
Total gross amount | 136,611 | 124,994 |
Total net amount | 131,971 | 121,039 |
Collateral received | 63,342 | 55,479 |
Unused revocable credit limits | 144,958 | 130,877 |
Irrevocable commitments under documentary credits | ||
Other commitments | ||
Maturity less than 1 year | 4,446 | 3,915 |
Maturity greater than 1 year | 82 | 97 |
Total gross amount | 4,528 | 4,012 |
Total net amount | 4,279 | 3,963 |
Collateral received | 2,469 | 2,404 |
Loan commitments | ||
Other commitments | ||
Maturity less than 1 year | 24,764 | 19,813 |
Maturity greater than 1 year | 105,111 | 99,209 |
Total gross amount | 129,875 | 119,022 |
Total net amount | 125,484 | 115,116 |
Collateral received | 60,786 | 53,039 |
Forward reverse repurchase agreements | ||
Other commitments | ||
Maturity less than 1 year | 71 | 17 |
Maturity greater than 1 year | 0 | 0 |
Total gross amount | 71 | 17 |
Total net amount | 71 | 17 |
Collateral received | 71 | 17 |
Other commitments | ||
Other commitments | ||
Maturity less than 1 year | 1,815 | 135 |
Maturity greater than 1 year | 322 | 1,808 |
Total gross amount | 2,137 | 1,943 |
Total net amount | 2,137 | 1,943 |
Collateral received | 16 | 19 |
Bank | ||
Other commitments | ||
Maturity less than 1 year | 31,096 | 23,880 |
Maturity greater than 1 year | 105,515 | 101,114 |
Total gross amount | 136,611 | 124,994 |
Total net amount | 131,971 | 121,039 |
Collateral received | 63,342 | 55,479 |
Bank | Irrevocable commitments under documentary credits | ||
Other commitments | ||
Maturity less than 1 year | 4,446 | 3,915 |
Maturity greater than 1 year | 82 | 97 |
Total gross amount | 4,528 | 4,012 |
Total net amount | 4,279 | 3,963 |
Collateral received | 2,469 | 2,404 |
Bank | Loan commitments | ||
Other commitments | ||
Maturity less than 1 year | 24,764 | 19,813 |
Maturity greater than 1 year | 105,111 | 99,209 |
Total gross amount | 129,875 | 119,022 |
Total net amount | 125,484 | 115,116 |
Collateral received | 60,786 | 53,039 |
Unused revocable credit limits | 145,045 | 130,965 |
Bank | Forward reverse repurchase agreements | ||
Other commitments | ||
Maturity less than 1 year | 71 | 17 |
Maturity greater than 1 year | 0 | 0 |
Total gross amount | 71 | 17 |
Total net amount | 71 | 17 |
Collateral received | 71 | 17 |
Bank | Other commitments | ||
Other commitments | ||
Maturity less than 1 year | 1,815 | 135 |
Maturity greater than 1 year | 322 | 1,808 |
Total gross amount | 2,137 | 1,943 |
Total net amount | 2,137 | 1,943 |
Collateral received | SFr 16 | SFr 19 |
Transfers of financial assets (
Transfers of financial assets (TFA) - Securitizations (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
CMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | SFr 0 | SFr 30 |
Proceeds from transfer of assets | 999 | 4,862 |
Cash received on interests that continue to be held | 26 | 21 |
RMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 62 | 22 |
Proceeds from transfer of assets | 20,876 | 11,373 |
Purchases of previously transferred financial assets or their underlying collateral | (1,072) | 0 |
Servicing fees | 1 | 1 |
Cash received on interests that continue to be held | 430 | 457 |
Other asset-backed financings | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 47 | 61 |
Proceeds from transfer of assets | 6,802 | 4,766 |
Purchases of previously transferred financial assets or their underlying collateral | (699) | (638) |
Servicing fees | 81 | 72 |
Cash received on interests that continue to be held | 7 | 11 |
Bank | CMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 0 | 30 |
Proceeds from transfer of assets | 999 | 4,862 |
Cash received on interests that continue to be held | 26 | 21 |
Bank | RMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 62 | 22 |
Proceeds from transfer of assets | 20,876 | 11,373 |
Purchases of previously transferred financial assets or their underlying collateral | (1,072) | 0 |
Servicing fees | 1 | 1 |
Cash received on interests that continue to be held | 430 | 457 |
Bank | Other asset-backed financings | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 47 | 61 |
Proceeds from transfer of assets | 6,802 | 4,766 |
Purchases of previously transferred financial assets or their underlying collateral | (699) | (638) |
Servicing fees | 81 | 72 |
Cash received on interests that continue to be held | SFr 7 | SFr 11 |
TFA - Principal amounts outstan
TFA - Principal amounts outstanding / total assets - continuing involvement (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
CMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | SFr 16,247 | SFr 17,421 |
Total assets of SPE | 23,079 | 24,455 |
RMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 58,318 | 47,324 |
Total assets of SPE | 58,318 | 47,863 |
Other asset-backed financings | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 26,307 | 24,968 |
Total assets of SPE | 55,188 | 50,817 |
Bank | CMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 16,247 | 17,421 |
Total assets of SPE | 23,079 | 24,455 |
Bank | RMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 58,318 | 47,324 |
Total assets of SPE | 58,318 | 47,863 |
Bank | Other asset-backed financings | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 26,307 | 24,968 |
Total assets of SPE | SFr 55,188 | SFr 50,817 |
TFA - Key economic assumptions
TFA - Key economic assumptions at time of transfer (Details 3) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
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 92 | SFr 172 |
Weighted-average life, in years | 7 years 4 months 24 days | 8 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) | 1.80% | 1.40% |
Expected credit losses (rate per annum), in % (as a percent) | 0.90% | 4.00% |
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) | 4.50% | 9.20% |
Expected credit losses (rate per annum), in % (as a percent) | 3.90% | 8.60% |
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 82 | SFr 158 |
CMBS | Level 3 | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | 10 | 14 |
RMBS | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 1,337 | SFr 1,646 |
Weighted-average life, in years | 5 years | 3 years 7 months 6 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) | 3.00% | 1.00% |
Cash flow discount rate (rate per annum), in % (as a percent) | 1.00% | 0.70% |
Expected credit losses (rate per annum), in % (as a percent) | 0.10% | 3.30% |
RMBS | Maximum | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Prepayment speed assumption (rate per annum) in % (as a percent) | 32.80% | 38.20% |
Cash flow discount rate (rate per annum), in % (as a percent) | 15.40% | 24.70% |
Expected credit losses (rate per annum), in % (as a percent) | 13.70% | 22.90% |
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 1,019 | SFr 1,465 |
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 318 | 181 |
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 92 | SFr 172 |
Weighted-average life, in years | 7 years 4 months 24 days | 8 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) | 1.80% | 1.40% |
Expected credit losses (rate per annum), in % (as a percent) | 0.90% | 4.00% |
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) | 4.50% | 9.20% |
Expected credit losses (rate per annum), in % (as a percent) | 3.90% | 8.60% |
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 82 | SFr 158 |
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 | 10 | 14 |
Bank | RMBS | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 1,337 | SFr 1,646 |
Weighted-average life, in years | 5 years | 3 years 7 months 6 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) | 3.00% | 1.00% |
Cash flow discount rate (rate per annum), in % (as a percent) | 1.00% | 0.70% |
Expected credit losses (rate per annum), in % (as a percent) | 0.10% | 3.30% |
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) | 32.80% | 38.20% |
Cash flow discount rate (rate per annum), in % (as a percent) | 15.40% | 24.70% |
Expected credit losses (rate per annum), in % (as a percent) | 13.70% | 22.90% |
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 1,019 | SFr 1,465 |
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 318 | SFr 181 |
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, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | |
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 296 | SFr 232 | SFr 296 |
Weighted-average life, in years | 5 years 7 months 6 days | 6 years | |
Impact on fair value from 10% adverse change in cash flow discount rate | SFr (4.9) | SFr (2.9) | (4.9) |
Impact on fair value from 20% adverse change in cash flow discount rate | (9.6) | (5.6) | (9.6) |
Impact on fair value from 10% adverse change in expected credit losses | (4.3) | (1.8) | (4.3) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (8.5) | SFr (3.5) | (8.5) |
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) | 0.60% | 1.70% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.40% | 0.90% | |
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) | 38.20% | 31.50% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 14.70% | 13.00% | |
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 36 | SFr 38 | 36 |
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 1,851 | SFr 2,382 | 1,851 |
Weighted-average life, in years | 4 years | 4 years | |
Impact on fair value from 10% adverse change in prepayment speed | SFr (43.7) | SFr (40) | (43.7) |
Impact on fair value from 20% adverse change in prepayment speed | (92.1) | (78) | (92.1) |
Impact on fair value from 10% adverse change in cash flow discount rate | (22.4) | (32.5) | (22.4) |
Impact on fair value from 20% adverse change in cash flow discount rate | (43.5) | (62.7) | (43.5) |
Impact on fair value from 10% adverse change in expected credit losses | (20.2) | (25.9) | (20.2) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (39.2) | SFr (50.2) | (39.2) |
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) | 4.00% | 5.20% | |
Cash flow discount rate per annum, in % (as a percent) | 0.30% | 0.70% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.60% | 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) | 50.10% | 30.00% | |
Cash flow discount rate per annum, in % (as a percent) | 39.70% | 29.70% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 39.60% | 28.60% | |
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 631 | SFr 330 | 631 |
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 350 | SFr 319 | 350 |
Weighted-average life, in years | 4 years 9 months 18 days | 5 years 6 months | |
Impact on fair value from 10% adverse change in cash flow discount rate | SFr (4.2) | SFr (3.7) | (4.2) |
Impact on fair value from 20% adverse change in cash flow discount rate | (8.2) | (7.3) | (8.2) |
Impact on fair value from 10% adverse change in expected credit losses | (4.5) | (3.5) | (4.5) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (8.9) | SFr (6.8) | (8.9) |
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% | 0.30% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.70% | 0.30% | |
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) | 27.70% | 28.00% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 26.80% | 28.00% | |
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 23 | SFr 18 | 23 |
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 | 296 | SFr 232 | SFr 296 |
Weighted-average life, in years | 6 years | 5 years 7 months 6 days | |
Impact on fair value from 10% adverse change in cash flow discount rate | (4.9) | SFr (2.9) | SFr (4.9) |
Impact on fair value from 20% adverse change in cash flow discount rate | (9.6) | (5.6) | (9.6) |
Impact on fair value from 10% adverse change in expected credit losses | (4.3) | (1.8) | (4.3) |
Impact on fair value from 20% adverse change in expected credit losses | (8.5) | SFr (3.5) | SFr (8.5) |
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) | 1.70% | 0.60% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.90% | 0.40% | |
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) | 31.50% | 38.20% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 13.00% | 14.70% | |
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 | 36 | SFr 38 | SFr 36 |
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 | 1,851 | SFr 2,382 | SFr 1,851 |
Weighted-average life, in years | 4 years | 4 years | |
Impact on fair value from 10% adverse change in prepayment speed | (43.7) | SFr (40) | SFr (43.7) |
Impact on fair value from 20% adverse change in prepayment speed | (92.1) | (78) | (92.1) |
Impact on fair value from 10% adverse change in cash flow discount rate | (22.4) | (32.5) | (22.4) |
Impact on fair value from 20% adverse change in cash flow discount rate | (43.5) | (62.7) | (43.5) |
Impact on fair value from 10% adverse change in expected credit losses | (20.2) | (25.9) | (20.2) |
Impact on fair value from 20% adverse change in expected credit losses | (39.2) | SFr (50.2) | SFr (39.2) |
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) | 5.20% | 4.00% | |
Cash flow discount rate per annum, in % (as a percent) | 0.70% | 0.30% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.20% | 0.60% | |
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) | 30.00% | 50.10% | |
Cash flow discount rate per annum, in % (as a percent) | 29.70% | 39.70% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 28.60% | 39.60% | |
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 | 631 | SFr 330 | SFr 631 |
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 | 350 | SFr 319 | SFr 350 |
Weighted-average life, in years | 5 years 6 months | 4 years 9 months 18 days | |
Impact on fair value from 10% adverse change in cash flow discount rate | (4.2) | SFr (3.7) | SFr (4.2) |
Impact on fair value from 20% adverse change in cash flow discount rate | (8.2) | (7.3) | (8.2) |
Impact on fair value from 10% adverse change in expected credit losses | (4.5) | (3.5) | (4.5) |
Impact on fair value from 20% adverse change in expected credit losses | (8.9) | SFr (6.8) | SFr (8.9) |
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) | 0.30% | 0.70% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.30% | 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) | 28.00% | 27.70% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 28.00% | 26.80% | |
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 23 | SFr 18 | SFr 23 |
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, 2021 | Dec. 31, 2020 |
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 721 | SFr 496 |
Other assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 198 | 246 |
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 | (919) | (742) |
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 | 721 | 496 |
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 | 198 | 246 |
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 (919) | SFr (742) |
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, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | SFr 31,700 | SFr 27,700 | |
Securities lending transactions | 3,800 | 4,100 | |
Obligation to return securities received as collateral, at fair value | 38,686 | SFr 56,494 | 50,773 |
Total | 74,200 | 82,600 | |
Corporate debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 8,600 | 7,700 | |
Securities lending transactions | 300 | 100 | |
Obligation to return securities received as collateral, at fair value | 4,400 | 5,600 | |
Asset-backed securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 4,300 | 6,000 | |
Equity securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities lending transactions | 3,300 | 3,500 | |
Obligation to return securities received as collateral, at fair value | 29,400 | 39,300 | |
Other | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 3,000 | 1,900 | |
Securities lending transactions | 0 | 100 | |
Obligation to return securities received as collateral, at fair value | 200 | 100 | |
Government debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 15,800 | 12,100 | |
Securities lending transactions | 200 | 400 | |
Obligation to return securities received as collateral, at fair value | 4,700 | 5,800 | |
No stated maturity [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 3,400 | 5,800 | |
Securities lending transactions | 3,800 | 4,000 | |
Obligation to return securities received as collateral, at fair value | 38,600 | 50,200 | |
Total | 45,800 | 60,000 | |
Maturity Less than 30 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 16,400 | 11,800 | |
Securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral, at fair value | 0 | 300 | |
Total | 16,400 | 12,100 | |
Maturity 30 to 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 2,600 | 5,900 | |
Securities lending transactions | 0 | 100 | |
Obligation to return securities received as collateral, at fair value | 0 | 300 | |
Total | 2,600 | 6,300 | |
Maturity Greater than 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 9,300 | 4,200 | |
Securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral, at fair value | 100 | 0 | |
Total | 9,400 | 4,200 | |
Bank | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 31,800 | 27,700 | |
Securities lending transactions | 3,800 | 4,100 | |
Obligation to return securities received as collateral, at fair value | 38,686 | 50,773 | |
Total | 74,300 | 82,600 | |
Bank | Corporate debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 8,600 | 7,700 | |
Securities lending transactions | 300 | 100 | |
Obligation to return securities received as collateral, at fair value | 4,400 | 5,600 | |
Bank | Asset-backed securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 4,300 | 6,000 | |
Bank | Equity securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities lending transactions | 3,300 | 3,500 | |
Obligation to return securities received as collateral, at fair value | 29,400 | 39,300 | |
Bank | Other | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 3,000 | 1,800 | |
Securities lending transactions | 0 | 100 | |
Obligation to return securities received as collateral, at fair value | 200 | 100 | |
Bank | Government debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 15,900 | 12,200 | |
Securities lending transactions | 200 | 400 | |
Obligation to return securities received as collateral, at fair value | 4,700 | 5,800 | |
Bank | No stated maturity [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 3,400 | 5,800 | |
Securities lending transactions | 3,800 | 4,000 | |
Obligation to return securities received as collateral, at fair value | 38,600 | 50,200 | |
Total | 45,800 | 60,000 | |
Bank | Maturity Less than 30 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 16,500 | 11,800 | |
Securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral, at fair value | 0 | 300 | |
Total | 16,500 | 12,100 | |
Bank | Maturity 30 to 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 2,600 | 5,900 | |
Securities lending transactions | 0 | 100 | |
Obligation to return securities received as collateral, at fair value | 0 | 300 | |
Total | 2,600 | 6,300 | |
Bank | Maturity Greater than 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 9,300 | 4,200 | |
Securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral, at fair value | 100 | 0 | |
Total | SFr 9,400 | SFr 4,200 |
Variable interest entities (VIE
Variable interest entities (VIE) - Consolidated (Details 7) SFr in Millions | Jun. 30, 2021CHF (SFr)day | Mar. 31, 2021CHF (SFr) | Dec. 31, 2020CHF (SFr) | Jun. 30, 2020CHF (SFr) | Dec. 31, 2019CHF (SFr) | |||||
VIE Disclosures | ||||||||||
Cash and due from banks | SFr 146,358 | [1] | SFr 133,285 | SFr 139,112 | [1] | SFr 132,070 | [1] | SFr 101,879 | [1] | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 94,645 | 91,121 | 79,133 | |||||||
Trading assets | 130,505 | 157,139 | 157,338 | |||||||
Investment securities | 794 | 614 | 607 | |||||||
Other investments | 4,578 | 5,640 | 5,412 | |||||||
Net loans | 299,844 | 304,188 | 291,908 | |||||||
Other assets | 42,171 | 48,902 | 39,637 | |||||||
of which loans held-for-sale | 8,136 | 13,160 | 7,046 | |||||||
Assets | 796,799 | 851,395 | 805,822 | |||||||
Customer deposits | 397,298 | 406,069 | 390,921 | |||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 20,924 | 22,853 | 23,851 | |||||||
Trading liabilities | 32,972 | 47,740 | 45,871 | |||||||
Short-term borrowings | 22,366 | 24,887 | 20,868 | |||||||
Long-term debt | 170,227 | 170,453 | 161,087 | |||||||
Other liabilities | 29,071 | 31,703 | 31,434 | |||||||
Liabilities | SFr 752,924 | 806,511 | 762,881 | |||||||
CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Average maturity of CP (in days) | day | 215 | |||||||||
Consolidated VIEs | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | SFr 247 | 90 | 90 | |||||||
Trading assets | 1,916 | 2,146 | 2,164 | |||||||
Other investments | 1,231 | 1,273 | 1,251 | |||||||
Net loans | 686 | 772 | 900 | |||||||
Other assets | 1,488 | 1,581 | 1,876 | |||||||
of which loans held-for-sale | 83 | 472 | ||||||||
Premises and equipment | 29 | 34 | ||||||||
Assets | 5,568 | 6,281 | ||||||||
Customer deposits | 1 | 0 | 1 | |||||||
Trading liabilities | 9 | 11 | 10 | |||||||
Short-term borrowings | 6,484 | 4,377 | 4,178 | |||||||
Long-term debt | 1,319 | 1,568 | 1,746 | |||||||
Other liabilities | 237 | SFr 240 | 208 | |||||||
Liabilities | 8,050 | 6,143 | ||||||||
Consolidated VIEs | CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 0 | 0 | ||||||||
Trading assets | 0 | 0 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 603 | 653 | ||||||||
Other assets | 24 | 21 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 627 | 674 | ||||||||
Customer deposits | 0 | 0 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 4,700 | 4,178 | ||||||||
Long-term debt | 93 | 0 | ||||||||
Other liabilities | 70 | 53 | ||||||||
Liabilities | 4,863 | 4,231 | ||||||||
Consolidated VIEs | Financial intermediation - Securitizations | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 39 | 23 | ||||||||
Trading assets | 1,068 | 1,255 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 0 | ||||||||
Other assets | 540 | 979 | ||||||||
of which loans held-for-sale | 57 | 462 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 1,647 | 2,257 | ||||||||
Customer deposits | 0 | 0 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 29 | 0 | ||||||||
Long-term debt | 1,180 | 1,701 | ||||||||
Other liabilities | 1 | 1 | ||||||||
Liabilities | 1,210 | 1,702 | ||||||||
Consolidated VIEs | Financial intermediation - Funds | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 16 | 22 | ||||||||
Trading assets | 54 | 50 | ||||||||
Other investments | 109 | 129 | ||||||||
Net loans | 61 | 51 | ||||||||
Other assets | 31 | 15 | ||||||||
of which loans held-for-sale | 26 | 10 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 271 | 267 | ||||||||
Customer deposits | 0 | 0 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 0 | 0 | ||||||||
Other liabilities | 4 | 3 | ||||||||
Liabilities | 4 | 3 | ||||||||
Consolidated VIEs | Financial intermediation - Loans | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 21 | 37 | ||||||||
Trading assets | 788 | 840 | ||||||||
Other investments | 877 | 920 | ||||||||
Net loans | 22 | 29 | ||||||||
Other assets | 82 | 82 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 29 | 30 | ||||||||
Assets | 1,790 | 1,908 | ||||||||
Customer deposits | 0 | 0 | ||||||||
Trading liabilities | 9 | 10 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 3 | 10 | ||||||||
Other liabilities | 70 | 73 | ||||||||
Liabilities | 82 | 93 | ||||||||
Consolidated VIEs | Financial intermediation - Other | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 171 | 8 | ||||||||
Trading assets | 6 | 19 | ||||||||
Other investments | 245 | 202 | ||||||||
Net loans | 0 | 167 | ||||||||
Other assets | 811 | 779 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 4 | ||||||||
Assets | 1,233 | 1,175 | ||||||||
Customer deposits | 1 | 1 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 1,755 | 0 | ||||||||
Long-term debt | 43 | 35 | ||||||||
Other liabilities | 92 | 78 | ||||||||
Liabilities | 1,891 | 114 | ||||||||
Bank | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | [2] | 145,367 | 138,207 | SFr 131,292 | SFr 101,044 | |||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 94,645 | 79,133 | ||||||||
Trading assets | 130,684 | 157,511 | ||||||||
Investment securities | 792 | 605 | ||||||||
Other investments | 4,543 | 5,379 | ||||||||
Net loans | 308,159 | 300,341 | ||||||||
Other assets | 38,779 | 36,574 | ||||||||
of which loans held-for-sale | 8,136 | 7,046 | ||||||||
Assets | 800,120 | 809,688 | ||||||||
Customer deposits | 398,323 | 392,039 | ||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 21,020 | 23,944 | ||||||||
Trading liabilities | 32,971 | 45,871 | ||||||||
Short-term borrowings | 26,219 | 21,308 | ||||||||
Long-term debt | 164,292 | 160,279 | ||||||||
Other liabilities | 27,935 | 30,340 | ||||||||
Liabilities | SFr 750,828 | 762,629 | ||||||||
Bank | CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Average maturity of CP (in days) | day | 215 | |||||||||
Bank | Consolidated VIEs | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | SFr 247 | 90 | ||||||||
Trading assets | 1,916 | 2,164 | ||||||||
Other investments | 1,231 | 1,251 | ||||||||
Net loans | 686 | 900 | ||||||||
Other assets | 1,454 | 1,858 | ||||||||
of which loans held-for-sale | 83 | 472 | ||||||||
Premises and equipment | 14 | 17 | ||||||||
Assets | 5,534 | 6,263 | ||||||||
Customer deposits | 1 | 1 | ||||||||
Trading liabilities | 9 | 10 | ||||||||
Short-term borrowings | 4,729 | 4,178 | ||||||||
Long-term debt | 1,319 | 1,746 | ||||||||
Other liabilities | 231 | 207 | ||||||||
Liabilities | 6,289 | 6,142 | ||||||||
Bank | Consolidated VIEs | CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 0 | 0 | ||||||||
Trading assets | 0 | 0 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 603 | 653 | ||||||||
Other assets | 24 | 21 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 627 | 674 | ||||||||
Customer deposits | 0 | 0 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 4,700 | 4,178 | ||||||||
Long-term debt | 93 | 0 | ||||||||
Other liabilities | 70 | 53 | ||||||||
Liabilities | 4,863 | 4,231 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Securitizations | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 39 | 23 | ||||||||
Trading assets | 1,068 | 1,255 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 0 | ||||||||
Other assets | 540 | 979 | ||||||||
of which loans held-for-sale | 57 | 462 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 1,647 | 2,257 | ||||||||
Customer deposits | 0 | 0 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 29 | 0 | ||||||||
Long-term debt | 1,180 | 1,701 | ||||||||
Other liabilities | 1 | 1 | ||||||||
Liabilities | 1,210 | 1,702 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Funds | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 16 | 22 | ||||||||
Trading assets | 54 | 50 | ||||||||
Other investments | 109 | 129 | ||||||||
Net loans | 61 | 51 | ||||||||
Other assets | 31 | 15 | ||||||||
of which loans held-for-sale | 26 | 10 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 271 | 267 | ||||||||
Customer deposits | 0 | 0 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 0 | 0 | ||||||||
Other liabilities | 4 | 3 | ||||||||
Liabilities | 4 | 3 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Loans | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 21 | 37 | ||||||||
Trading assets | 788 | 840 | ||||||||
Other investments | 877 | 920 | ||||||||
Net loans | 22 | 29 | ||||||||
Other assets | 67 | 65 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 14 | 13 | ||||||||
Assets | 1,775 | 1,891 | ||||||||
Customer deposits | 0 | 0 | ||||||||
Trading liabilities | 9 | 10 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 3 | 10 | ||||||||
Other liabilities | 72 | 72 | ||||||||
Liabilities | 84 | 92 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Other | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 171 | 8 | ||||||||
Trading assets | 6 | 19 | ||||||||
Other investments | 245 | 202 | ||||||||
Net loans | 0 | 167 | ||||||||
Other assets | 792 | 778 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 4 | ||||||||
Assets | 1,214 | 1,174 | ||||||||
Customer deposits | 1 | 1 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 43 | 35 | ||||||||
Other liabilities | 84 | 78 | ||||||||
Liabilities | SFr 128 | SFr 114 | ||||||||
[1] | Includes restricted cash. | |||||||||
[2] | Includes restricted cash. |
VIE - Non-consolidated (Details
VIE - Non-consolidated (Details 8) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
VIE Disclosures | |||
Trading assets | SFr 130,505 | SFr 157,139 | SFr 157,338 |
Net loans | 299,844 | 304,188 | 291,908 |
Other assets | 42,171 | 48,902 | 39,637 |
Assets | 796,799 | 851,395 | 805,822 |
Maximum exposure to loss | 43,414 | 38,379 | |
Non-consolidated VIE assets | 361,695 | 296,498 | |
Other liabilities | 29,071 | 31,703 | 31,434 |
Liabilities | 752,924 | SFr 806,511 | 762,881 |
Collateralized debt or loan obligations | |||
VIE Disclosures | |||
Maximum exposure to loss | 1,532 | 852 | |
Non-consolidated VIE assets | 11,001 | 8,553 | |
CP Conduit | |||
VIE Disclosures | |||
Maximum exposure to loss | 5,966 | 5,538 | |
Non-consolidated VIE assets | 12,544 | 11,148 | |
Financial intermediation - Securitizations | |||
VIE Disclosures | |||
Maximum exposure to loss | 7,887 | 7,329 | |
Non-consolidated VIE assets | 106,170 | 127,785 | |
Financial intermediation - Funds | |||
VIE Disclosures | |||
Maximum exposure to loss | 3,868 | 3,199 | |
Non-consolidated VIE assets | 163,757 | 89,686 | |
Financial intermediation - Loans | |||
VIE Disclosures | |||
Maximum exposure to loss | 13,568 | 11,235 | |
Non-consolidated VIE assets | 37,131 | 26,186 | |
Financial intermediation - Other | |||
VIE Disclosures | |||
Maximum exposure to loss | 10,593 | 10,226 | |
Non-consolidated VIE assets | 31,092 | 33,140 | |
Non-consolidated VIEs | |||
VIE Disclosures | |||
Trading assets | 13,612 | 14,546 | |
Net loans | 14,466 | 11,357 | |
Other assets | 1,032 | 468 | |
Assets | 29,110 | 26,371 | |
Non-consolidated VIEs | Collateralized debt or loan obligations | |||
VIE Disclosures | |||
Trading assets | 257 | 250 | |
Net loans | 631 | 357 | |
Other assets | 7 | 2 | |
Assets | 895 | 609 | |
Non-consolidated VIEs | CP Conduit | |||
VIE Disclosures | |||
Trading assets | 0 | 0 | |
Net loans | 547 | 371 | |
Other assets | 0 | 0 | |
Assets | 547 | 371 | |
Non-consolidated VIEs | Financial intermediation - Securitizations | |||
VIE Disclosures | |||
Trading assets | 4,480 | 4,500 | |
Net loans | 365 | 734 | |
Other assets | 302 | 3 | |
Assets | 5,147 | 5,237 | |
Non-consolidated VIEs | Financial intermediation - Funds | |||
VIE Disclosures | |||
Trading assets | 921 | 1,113 | |
Net loans | 2,770 | 1,967 | |
Other assets | 177 | 119 | |
Assets | 3,868 | 3,199 | |
Non-consolidated VIEs | Financial intermediation - Loans | |||
VIE Disclosures | |||
Trading assets | 24 | 66 | |
Net loans | 8,778 | 6,989 | |
Other assets | 0 | 0 | |
Assets | 8,802 | 7,055 | |
Non-consolidated VIEs | Financial intermediation - Other | |||
VIE Disclosures | |||
Trading assets | 7,930 | 8,617 | |
Net loans | 1,375 | 939 | |
Other assets | 546 | 344 | |
Assets | 9,851 | 9,900 | |
Bank | |||
VIE Disclosures | |||
Trading assets | 130,684 | 157,511 | |
Net loans | 308,159 | 300,341 | |
Other assets | 38,779 | 36,574 | |
Assets | 800,120 | 809,688 | |
Other liabilities | 27,935 | 30,340 | |
Liabilities | 750,828 | 762,629 | |
Bank | Non-consolidated VIEs | |||
VIE Disclosures | |||
Trading assets | 13,611 | 14,546 | |
Net loans | 14,466 | 11,357 | |
Other assets | 1,029 | 459 | |
Assets | 29,106 | 26,362 | |
Maximum exposure to loss | 43,410 | 38,370 | |
Non-consolidated VIE assets | 355,222 | 287,049 | |
Bank | Non-consolidated VIEs | Collateralized debt or loan obligations | |||
VIE Disclosures | |||
Trading assets | 257 | 250 | |
Net loans | 631 | 357 | |
Other assets | 7 | 2 | |
Assets | 895 | 609 | |
Maximum exposure to loss | 1,532 | 852 | |
Non-consolidated VIE assets | 11,001 | 8,553 | |
Bank | Non-consolidated VIEs | CP Conduit | |||
VIE Disclosures | |||
Trading assets | 0 | 0 | |
Net loans | 547 | 371 | |
Other assets | 0 | 0 | |
Assets | 547 | 371 | |
Maximum exposure to loss | 5,966 | 5,538 | |
Non-consolidated VIE assets | 12,544 | 11,148 | |
Bank | Non-consolidated VIEs | Financial intermediation - Securitizations | |||
VIE Disclosures | |||
Trading assets | 4,480 | 4,500 | |
Net loans | 365 | 734 | |
Other assets | 302 | 3 | |
Assets | 5,147 | 5,237 | |
Maximum exposure to loss | 7,887 | 7,329 | |
Non-consolidated VIE assets | 106,170 | 127,785 | |
Bank | Non-consolidated VIEs | Financial intermediation - Funds | |||
VIE Disclosures | |||
Trading assets | 920 | 1,113 | |
Net loans | 2,770 | 1,967 | |
Other assets | 174 | 110 | |
Assets | 3,864 | 3,190 | |
Maximum exposure to loss | 3,864 | 3,190 | |
Non-consolidated VIE assets | 162,600 | 87,618 | |
Bank | Non-consolidated VIEs | Financial intermediation - Loans | |||
VIE Disclosures | |||
Trading assets | 24 | 66 | |
Net loans | 8,778 | 6,989 | |
Other assets | 0 | 0 | |
Assets | 8,802 | 7,055 | |
Maximum exposure to loss | 13,568 | 11,235 | |
Non-consolidated VIE assets | 37,131 | 26,186 | |
Bank | Non-consolidated VIEs | Financial intermediation - Other | |||
VIE Disclosures | |||
Trading assets | 7,930 | 8,617 | |
Net loans | 1,375 | 939 | |
Other assets | 546 | 344 | |
Assets | 9,851 | 9,900 | |
Maximum exposure to loss | 10,593 | 10,226 | |
Non-consolidated VIE assets | SFr 25,776 | SFr 25,759 |
Financial instruments (FI) - As
Financial instruments (FI) - Assets measured at fair value (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Assets | |||
Cash and Due from Banks | SFr 141 | SFr 91 | SFr 525 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 67,268 | 57,994 |
Securities received as collateral | 38,686 | 56,494 | 50,773 |
Trading assets | 130,505 | 157,139 | 157,338 |
Available-for-sale Securities, Debt Securities | 794 | 614 | 607 |
Other investments | 2,747 | 3,937 | 3,794 |
Loans | 11,101 | 11,827 | 11,408 |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 181 | 180 |
Other assets | 10,342 | 15,033 | 8,373 |
Other assets - of which failed purchases | 1,793 | SFr 1,595 | 1,451 |
Netting impact | (101,700) | (120,600) | |
Recurring basis | |||
Assets | |||
Cash and Due from Banks | 141 | 525 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Securities received as collateral | 38,686 | 50,773 | |
Trading assets | 130,505 | 157,338 | |
Available-for-sale Securities, Debt Securities | 794 | 607 | |
Other investments | 2,747 | 3,794 | |
Loans | 11,101 | 11,408 | |
Loans - of which commercial and industrial | 3,123 | 3,534 | |
Loans - of which financial institutions | 4,601 | 4,588 | |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 180 | |
Other assets | 10,342 | 8,373 | |
Other assets - of which loans held-for-sale | 7,720 | 6,446 | |
Other assets - of which failed purchases | 1,728 | 1,389 | |
Netting impact | (101,788) | (120,635) | |
Total assets at fair value | 263,970 | 290,992 | |
Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 1,747 | 2,759 | |
Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 877 | 920 | |
Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 57,620 | 64,395 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 22,301 | 27,957 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 11,078 | 11,477 | |
Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 21,005 | 21,439 | |
Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 44,226 | 63,237 | |
Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 24,156 | 25,531 | |
Netting impact | (101,348) | (119,731) | |
Recurring basis | Trading assets | |||
Assets | |||
Netting impact | (101,348) | (119,731) | |
Recurring basis | Other | |||
Assets | |||
Trading assets | 4,503 | 4,175 | |
Recurring basis | Other assets | |||
Assets | |||
Netting impact | (440) | (904) | |
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 | 33,337 | 44,074 | |
Trading assets | 63,367 | 87,710 | |
Available-for-sale Securities, Debt Securities | 35 | 2 | |
Other investments | 13 | 13 | |
Loans | 0 | 0 | |
Loans - of which commercial and industrial | 0 | 0 | |
Loans - of which financial institutions | 0 | 0 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 155 | 137 | |
Other assets - of which loans held-for-sale | 0 | 0 | |
Other assets - of which failed purchases | 126 | 109 | |
Total assets at fair value | 96,907 | 131,936 | |
Recurring basis | Level 1 | Other equity investments | |||
Assets | |||
Other investments | 13 | 13 | |
Recurring basis | Level 1 | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Recurring basis | Level 1 | Debt securities | |||
Assets | |||
Trading assets | 11,267 | 16,321 | |
Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 10,885 | 15,908 | |
Recurring basis | Level 1 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 265 | 353 | |
Recurring basis | Level 1 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 0 | 0 | |
Recurring basis | Level 1 | Equity securities | |||
Assets | |||
Trading assets | 41,037 | 60,044 | |
Recurring basis | Level 1 | Derivative instruments | |||
Assets | |||
Trading assets | 9,422 | 9,297 | |
Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 1,212 | 3,036 | |
Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 220 | 42 | |
Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 7,941 | 6,150 | |
Recurring basis | Level 1 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 0 | 22 | |
Recurring basis | Level 1 | Other | |||
Assets | |||
Trading assets | 1,641 | 2,048 | |
Recurring basis | Level 2 | |||
Assets | |||
Cash and Due from Banks | 141 | 525 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Securities received as collateral | 5,265 | 6,598 | |
Trading assets | 161,743 | 181,166 | |
Available-for-sale Securities, Debt Securities | 759 | 605 | |
Other investments | 7 | 6 | |
Loans | 8,173 | 7,739 | |
Loans - of which commercial and industrial | 1,712 | 2,187 | |
Loans - of which financial institutions | 3,958 | 3,506 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 9,191 | 7,315 | |
Other assets - of which loans held-for-sale | 6,433 | 4,870 | |
Other assets - of which failed purchases | 1,590 | 1,229 | |
Total assets at fair value | 254,744 | 261,948 | |
Recurring basis | Level 2 | Other equity investments | |||
Assets | |||
Other investments | 7 | 6 | |
Recurring basis | Level 2 | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Recurring basis | Level 2 | Debt securities | |||
Assets | |||
Trading assets | 44,628 | 45,766 | |
Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 11,376 | 11,909 | |
Recurring basis | Level 2 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 9,854 | 9,799 | |
Recurring basis | Level 2 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 20,528 | 20,882 | |
Recurring basis | Level 2 | Equity securities | |||
Assets | |||
Trading assets | 2,172 | 2,466 | |
Recurring basis | Level 2 | Derivative instruments | |||
Assets | |||
Trading assets | 113,199 | 132,054 | |
Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 55,831 | 71,043 | |
Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 19,512 | 24,259 | |
Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 32,473 | 31,945 | |
Recurring basis | Level 2 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 147 | 110 | |
Recurring basis | Level 2 | Other | |||
Assets | |||
Trading assets | 1,744 | 880 | |
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 | 84 | 101 | |
Trading assets | 5,938 | 7,535 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 2,231 | 3,054 | |
Loans | 2,928 | 3,669 | |
Loans - of which commercial and industrial | 1,411 | 1,347 | |
Loans - of which financial institutions | 643 | 1,082 | |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 180 | |
Other assets | 1,436 | 1,825 | |
Other assets - of which loans held-for-sale | 1,287 | 1,576 | |
Other assets - of which failed purchases | 12 | 51 | |
Total assets at fair value | 12,806 | 16,364 | |
Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | 1,353 | 2,132 | |
Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 877 | 920 | |
Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 1,655 | 2,253 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 40 | 140 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 889 | 1,270 | |
Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 477 | 557 | |
Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | 282 | 124 | |
Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | 2,883 | 3,911 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 805 | 733 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 139 | 143 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 490 | 1,186 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 1,073 | 1,079 | |
Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | 1,118 | 1,247 | |
Recurring basis | Fair value measured at net asset value per share | |||
Assets | |||
Trading assets | 805 | 658 | |
Other investments | 496 | 721 | |
Total assets at fair value | 1,301 | 1,379 | |
Recurring basis | Fair value measured at net asset value per share | Other equity investments | |||
Assets | |||
Other investments | 374 | 608 | |
Recurring basis | Fair value measured at net asset value per share | Debt securities | |||
Assets | |||
Trading assets | 70 | 55 | |
Recurring basis | Fair value measured at net asset value per share | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 70 | 55 | |
Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Assets | |||
Trading assets | 735 | 603 | |
Bank | |||
Assets | |||
Cash and Due from Banks | 141 | 525 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Securities received as collateral | 38,686 | 50,773 | |
Trading assets | 130,684 | 157,511 | |
Available-for-sale Securities, Debt Securities | 792 | 605 | |
Other investments | 2,746 | 3,793 | |
Loans | 11,101 | 11,408 | |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 180 | |
Other assets | 10,342 | 8,373 | |
Other assets - of which failed purchases | 1,793 | 1,451 | |
Netting impact | (101,800) | (120,600) | |
Bank | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 141 | 525 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Securities received as collateral | 38,686 | 50,773 | |
Trading assets | 130,684 | 157,511 | |
Available-for-sale Securities, Debt Securities | 792 | 605 | |
Other investments | 2,746 | 3,793 | |
Loans | 11,101 | 11,408 | |
Loans - of which commercial and industrial | 3,123 | 3,534 | |
Loans - of which financial institutions | 4,601 | 4,588 | |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 180 | |
Other assets | 10,342 | 8,373 | |
Other assets - of which loans held-for-sale | 7,720 | 6,446 | |
Other assets - of which failed purchases | 1,728 | 1,389 | |
Netting impact | (101,887) | (120,635) | |
Total assets at fair value | 264,146 | 291,162 | |
Bank | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 1,746 | 2,760 | |
Bank | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 877 | 920 | |
Bank | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 57,739 | 64,532 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 22,301 | 27,957 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 11,197 | 11,614 | |
Bank | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 21,005 | 21,439 | |
Bank | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 44,287 | 63,273 | |
Bank | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 24,155 | 25,531 | |
Netting impact | (101,447) | (119,731) | |
Bank | Recurring basis | Trading assets | |||
Assets | |||
Netting impact | (101,447) | (119,731) | |
Bank | Recurring basis | Other | |||
Assets | |||
Trading assets | 4,503 | 4,175 | |
Bank | Recurring basis | Other assets | |||
Assets | |||
Netting impact | (440) | (904) | |
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 | 33,337 | 44,074 | |
Trading assets | 63,427 | 87,746 | |
Available-for-sale Securities, Debt Securities | 33 | 1 | |
Other investments | 13 | 13 | |
Loans | 0 | 0 | |
Loans - of which commercial and industrial | 0 | 0 | |
Loans - of which financial institutions | 0 | 0 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 155 | 137 | |
Other assets - of which loans held-for-sale | 0 | 0 | |
Other assets - of which failed purchases | 126 | 109 | |
Total assets at fair value | 96,965 | 131,971 | |
Bank | Recurring basis | Level 1 | Other equity investments | |||
Assets | |||
Other investments | 13 | 13 | |
Bank | Recurring basis | Level 1 | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Recurring basis | Level 1 | Debt securities | |||
Assets | |||
Trading assets | 11,267 | 16,321 | |
Bank | Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 10,885 | 15,908 | |
Bank | Recurring basis | Level 1 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 265 | 353 | |
Bank | Recurring basis | Level 1 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 0 | 0 | |
Bank | Recurring basis | Level 1 | Equity securities | |||
Assets | |||
Trading assets | 41,098 | 60,080 | |
Bank | Recurring basis | Level 1 | Derivative instruments | |||
Assets | |||
Trading assets | 9,422 | 9,297 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 1,212 | 3,036 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 220 | 42 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 7,941 | 6,150 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 0 | 22 | |
Bank | Recurring basis | Level 1 | Other | |||
Assets | |||
Trading assets | 1,640 | 2,048 | |
Bank | Recurring basis | Level 2 | |||
Assets | |||
Cash and Due from Banks | 141 | 525 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Securities received as collateral | 5,265 | 6,598 | |
Trading assets | 161,961 | 181,303 | |
Available-for-sale Securities, Debt Securities | 759 | 604 | |
Other investments | 7 | 6 | |
Loans | 8,173 | 7,739 | |
Loans - of which commercial and industrial | 1,712 | 2,187 | |
Loans - of which financial institutions | 3,958 | 3,506 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 9,191 | 7,315 | |
Other assets - of which loans held-for-sale | 6,433 | 4,870 | |
Other assets - of which failed purchases | 1,590 | 1,229 | |
Total assets at fair value | 254,962 | 262,084 | |
Bank | Recurring basis | Level 2 | Other equity investments | |||
Assets | |||
Other investments | 7 | 6 | |
Bank | Recurring basis | Level 2 | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Recurring basis | Level 2 | Debt securities | |||
Assets | |||
Trading assets | 44,747 | 45,903 | |
Bank | Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 11,376 | 11,909 | |
Bank | Recurring basis | Level 2 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 9,973 | 9,936 | |
Bank | Recurring basis | Level 2 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 20,528 | 20,882 | |
Bank | Recurring basis | Level 2 | Equity securities | |||
Assets | |||
Trading assets | 2,172 | 2,466 | |
Bank | Recurring basis | Level 2 | Derivative instruments | |||
Assets | |||
Trading assets | 113,297 | 132,054 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 55,930 | 71,043 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 19,512 | 24,259 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 32,473 | 31,945 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 146 | 110 | |
Bank | Recurring basis | Level 2 | Other | |||
Assets | |||
Trading assets | 1,745 | 880 | |
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 | 84 | 101 | |
Trading assets | 5,938 | 7,535 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 2,231 | 3,054 | |
Loans | 2,928 | 3,669 | |
Loans - of which commercial and industrial | 1,411 | 1,347 | |
Loans - of which financial institutions | 643 | 1,082 | |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 180 | |
Other assets | 1,436 | 1,825 | |
Other assets - of which loans held-for-sale | 1,287 | 1,576 | |
Other assets - of which failed purchases | 12 | 51 | |
Total assets at fair value | 12,806 | 16,364 | |
Bank | Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | 1,353 | 2,132 | |
Bank | Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 877 | 920 | |
Bank | Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 1,655 | 2,253 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 40 | 140 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 889 | 1,270 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 477 | 557 | |
Bank | Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | 282 | 124 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | 2,883 | 3,911 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 805 | 733 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 139 | 143 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 490 | 1,186 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 1,073 | 1,079 | |
Bank | Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | 1,118 | 1,247 | |
Bank | Recurring basis | Fair value measured at net asset value per share | |||
Assets | |||
Trading assets | 805 | 658 | |
Other investments | 495 | 720 | |
Total assets at fair value | 1,300 | 1,378 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Other equity investments | |||
Assets | |||
Other investments | 373 | 609 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Debt securities | |||
Assets | |||
Trading assets | 70 | 55 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 70 | 55 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Assets | |||
Trading assets | SFr 735 | SFr 603 |
FI - Liabilities measured at fa
FI - Liabilities measured at fair value (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Liabilities | |||
Due to banks | SFr 330 | SFr 800 | SFr 413 |
Customer deposits | 3,921 | 4,221 | 4,343 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,983 | 9,591 | 13,594 |
Obligation to return securities received as collateral | 38,686 | 56,494 | 50,773 |
Trading liabilities | 32,972 | 47,740 | 45,871 |
Short-term borrowings | 8,554 | 11,020 | 10,740 |
Long-term debt | 69,436 | 72,312 | 70,976 |
Other liabilities | 7,911 | SFr 7,913 | 7,780 |
Netting impact | (108,900) | (130,000) | |
Recurring basis | |||
Liabilities | |||
Due to banks | 330 | 413 | |
Customer deposits | 3,921 | 4,343 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,983 | 13,594 | |
Obligation to return securities received as collateral | 38,686 | 50,773 | |
Trading liabilities | 32,972 | 45,871 | |
Short-term borrowings | 8,554 | 10,740 | |
Long-term debt | 69,436 | 70,976 | |
Other liabilities | 7,911 | 7,780 | |
Netting impact | (108,921) | (130,036) | |
Total liabilities at fair value | 172,793 | 204,490 | |
Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 13,866 | 12,920 | |
Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 30,865 | 33,856 | |
Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 11,080 | 10,586 | |
Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 8,053 | ||
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 4,133 | ||
Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 12,316 | 20,694 | |
Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 12,603 | 17,745 | |
Netting impact | (108,650) | (129,867) | |
Recurring basis | Trading liabilities | |||
Liabilities | |||
Netting impact | (108,650) | (129,867) | |
Recurring basis | Other liabilities | |||
Liabilities | |||
Netting impact | (271) | (169) | |
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 | 33,337 | 44,074 | |
Trading liabilities | 24,903 | 33,544 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 90 | 0 | |
Total liabilities at fair value | 58,330 | 77,618 | |
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 | Debt securities | |||
Liabilities | |||
Trading liabilities | 3,230 | ||
Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,131 | ||
Recurring basis | Level 1 | Equity securities | |||
Liabilities | |||
Trading liabilities | 12,134 | 20,527 | |
Recurring basis | Level 1 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 9,539 | 10,536 | |
Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 1,184 | 3,264 | |
Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 176 | 51 | |
Recurring basis | Level 1 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 0 | ||
Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 8,127 | 7,149 | |
Recurring basis | Level 2 | |||
Liabilities | |||
Due to banks | 330 | 413 | |
Customer deposits | 3,489 | 3,895 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,983 | 13,594 | |
Obligation to return securities received as collateral | 5,265 | 6,598 | |
Trading liabilities | 113,684 | 137,947 | |
Short-term borrowings | 7,448 | 10,039 | |
Long-term debt | 59,763 | 63,708 | |
Other liabilities | 7,557 | 6,678 | |
Total liabilities at fair value | 208,519 | 242,872 | |
Recurring basis | Level 2 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 11,742 | 11,787 | |
Recurring basis | Level 2 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 24,088 | 28,330 | |
Recurring basis | Level 2 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 11,080 | 10,586 | |
Recurring basis | Level 2 | Debt securities | |||
Liabilities | |||
Trading liabilities | 4,823 | ||
Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 1,002 | ||
Recurring basis | Level 2 | Equity securities | |||
Liabilities | |||
Trading liabilities | 141 | 111 | |
Recurring basis | Level 2 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 108,720 | 132,885 | |
Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 52,087 | 68,159 | |
Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 20,973 | 28,819 | |
Recurring basis | Level 2 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 4,663 | ||
Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 29,144 | 30,612 | |
Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 432 | 448 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 84 | 101 | |
Trading liabilities | 3,035 | 4,246 | |
Short-term borrowings | 1,106 | 701 | |
Long-term debt | 9,673 | 7,268 | |
Other liabilities | 535 | 1,271 | |
Total liabilities at fair value | 14,865 | 14,035 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 2,124 | 1,133 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 6,777 | 5,526 | |
Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | 0 | ||
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | ||
Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | 41 | 55 | |
Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 2,994 | 4,191 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 142 | 169 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 62 | 72 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 1,335 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 1,738 | 2,010 | |
Recurring basis | Fair value measured at net asset value per share | |||
Liabilities | |||
Trading liabilities | 1 | ||
Total liabilities at fair value | 1 | ||
Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Liabilities | |||
Trading liabilities | 1 | ||
Bank | |||
Liabilities | |||
Due to banks | 330 | 413 | |
Customer deposits | 3,921 | 4,343 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 11,080 | 13,688 | |
Obligation to return securities received as collateral | 38,686 | 50,773 | |
Trading liabilities | 32,971 | 45,871 | |
Short-term borrowings | 8,554 | 10,740 | |
Long-term debt | 68,486 | 70,243 | |
Other liabilities | 7,891 | 7,756 | |
Netting impact | (108,900) | (130,100) | |
Bank | Recurring basis | |||
Liabilities | |||
Due to banks | 330 | 413 | |
Customer deposits | 3,921 | 4,343 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 11,080 | 13,688 | |
Obligation to return securities received as collateral | 38,686 | 50,773 | |
Trading liabilities | 32,971 | 45,871 | |
Short-term borrowings | 8,554 | 10,740 | |
Long-term debt | 68,486 | 70,243 | |
Other liabilities | 7,891 | 7,756 | |
Netting impact | (108,979) | (130,106) | |
Total liabilities at fair value | 171,919 | 203,827 | |
Bank | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 13,866 | 12,920 | |
Bank | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 30,865 | 33,856 | |
Bank | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 11,124 | 10,627 | |
Bank | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 8,054 | ||
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 4,133 | ||
Bank | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 12,315 | 20,694 | |
Bank | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 12,602 | 17,745 | |
Netting impact | (108,708) | (129,937) | |
Bank | Recurring basis | Trading liabilities | |||
Liabilities | |||
Netting impact | (108,708) | (129,937) | |
Bank | Recurring basis | Other liabilities | |||
Liabilities | |||
Netting impact | (271) | (169) | |
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 | 33,337 | 44,074 | |
Trading liabilities | 24,903 | 33,543 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 90 | 0 | |
Total liabilities at fair value | 58,330 | 77,617 | |
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 | Debt securities | |||
Liabilities | |||
Trading liabilities | 3,230 | ||
Bank | Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,131 | ||
Bank | Recurring basis | Level 1 | Equity securities | |||
Liabilities | |||
Trading liabilities | 12,133 | 20,527 | |
Bank | Recurring basis | Level 1 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 9,540 | 10,535 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 1,184 | 3,264 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 176 | 51 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 0 | ||
Bank | Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 8,127 | 7,149 | |
Bank | Recurring basis | Level 2 | |||
Liabilities | |||
Due to banks | 330 | 413 | |
Customer deposits | 3,489 | 3,895 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 11,080 | 13,688 | |
Obligation to return securities received as collateral | 5,265 | 6,598 | |
Trading liabilities | 113,741 | 138,018 | |
Short-term borrowings | 7,448 | 10,039 | |
Long-term debt | 58,813 | 62,957 | |
Other liabilities | 7,537 | 6,675 | |
Total liabilities at fair value | 207,703 | 242,283 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 11,742 | 11,787 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 24,088 | 28,330 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 11,124 | 10,627 | |
Bank | Recurring basis | Level 2 | Debt securities | |||
Liabilities | |||
Trading liabilities | 4,824 | ||
Bank | Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 1,002 | ||
Bank | Recurring basis | Level 2 | Equity securities | |||
Liabilities | |||
Trading liabilities | 141 | 111 | |
Bank | Recurring basis | Level 2 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 108,776 | 132,956 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 52,145 | 68,229 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 20,973 | 28,819 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 4,663 | ||
Bank | Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 29,143 | 30,612 | |
Bank | Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 432 | 448 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 84 | 101 | |
Trading liabilities | 3,035 | 4,246 | |
Short-term borrowings | 1,106 | 701 | |
Long-term debt | 9,673 | 7,286 | |
Other liabilities | 535 | 1,250 | |
Total liabilities at fair value | 14,865 | 14,032 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 2,124 | 1,133 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 6,777 | 5,526 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | 0 | ||
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | ||
Bank | Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | 41 | 55 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 2,994 | 4,191 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 142 | 169 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 62 | 72 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 1,335 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | SFr 1,738 | 2,010 | |
Bank | Recurring basis | Fair value measured at net asset value per share | |||
Liabilities | |||
Trading liabilities | 1 | ||
Total liabilities at fair value | 1 | ||
Bank | Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Liabilities | |||
Trading liabilities | SFr 1 |
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, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | |
Assets measured at fair value on a recurring basis for level 3 | ||||||
Retained Earnings (Accumulated Deficit) | SFr 32,715 | SFr 32,715 | SFr 32,582 | SFr 32,834 | ||
Recurring basis | Securities received as collateral | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 101 | SFr 1 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 64 | 173 | ||||
Sales, assets | (86) | (1) | ||||
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 | 5 | (3) | ||||
Balance at end of period, assets | 84 | 84 | 170 | |||
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 | 7,535 | 7,885 | ||||
Transfers in, assets | 594 | 2,489 | ||||
Transfers out, assets | (1,635) | (1,502) | ||||
Purchases, assets | 2,472 | 4,272 | ||||
Sales, assets | (2,976) | (4,657) | ||||
Issuances, assets | 508 | 1,290 | ||||
Settlements, assets | (1,119) | (1,625) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 39 | 169 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 140 | 796 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | (1) | ||||
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 | 380 | (319) | ||||
Balance at end of period, assets | 5,938 | 5,938 | 8,797 | |||
Recurring basis | Trading assets | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 128 | 1,076 | ||||
Recurring basis | Trading assets | Debt securities | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 2,253 | 1,923 | ||||
Transfers in, assets | 296 | 1,654 | ||||
Transfers out, assets | (736) | (708) | ||||
Purchases, assets | 1,859 | 2,527 | ||||
Sales, assets | (2,285) | (2,000) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (7) | 59 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 138 | (122) | ||||
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 | 137 | (135) | ||||
Balance at end of period, assets | 1,655 | 1,655 | 3,198 | |||
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 | 103 | (19) | ||||
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 | 1,270 | 1,128 | ||||
Transfers in, assets | 137 | 559 | ||||
Transfers out, assets | (176) | (564) | ||||
Purchases, assets | 1,403 | 1,718 | ||||
Sales, assets | (1,913) | (1,230) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (5) | 67 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 95 | 42 | ||||
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 | (78) | ||||
Balance at end of period, assets | 889 | 889 | 1,642 | |||
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 | 99 | 96 | ||||
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 | |||||
Transfers in, assets | 902 | |||||
Transfers out, assets | (70) | |||||
Purchases, assets | 557 | |||||
Sales, assets | (525) | |||||
Issuances, assets | 0 | |||||
Settlements, assets | 0 | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | (4) | |||||
Gain (loss) on all other activity included in trading revenues, assets | (70) | |||||
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 | (5) | |||||
Balance at end of period, assets | 1,102 | |||||
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) | |||||
Recurring basis | Trading assets | Derivative instruments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 3,911 | 3,534 | ||||
Transfers in, assets | 179 | 719 | ||||
Transfers out, assets | (856) | (629) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 508 | 1,290 | ||||
Settlements, assets | (1,033) | (1,606) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 29 | 111 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (30) | 834 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | (1) | ||||
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 | 175 | (151) | ||||
Balance at end of period, assets | 2,883 | 2,883 | 4,101 | |||
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 | 72 | 999 | ||||
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 | 733 | |||||
Transfers in, assets | 59 | |||||
Transfers out, assets | (81) | |||||
Purchases, assets | 0 | |||||
Sales, assets | 0 | |||||
Issuances, assets | 114 | |||||
Settlements, assets | (59) | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | |||||
Gain (loss) on all other activity included in trading revenues, assets | 18 | |||||
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 | 21 | |||||
Balance at end of period, assets | 805 | 805 | ||||
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 | 54 | |||||
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 | |||||
Transfers in, assets | 220 | |||||
Transfers out, assets | (240) | |||||
Purchases, assets | 0 | |||||
Sales, assets | 0 | |||||
Issuances, assets | 345 | |||||
Settlements, assets | (597) | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | 35 | |||||
Gain (loss) on all other activity included in trading revenues, assets | 345 | |||||
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 | (81) | |||||
Balance at end of period, assets | 1,067 | |||||
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 | |||||
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 | |||||
Transfers in, assets | 379 | |||||
Transfers out, assets | (305) | |||||
Purchases, assets | 0 | |||||
Sales, assets | 0 | |||||
Issuances, assets | 700 | |||||
Settlements, assets | (771) | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | 100 | |||||
Gain (loss) on all other activity included in trading revenues, assets | 211 | |||||
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 | (21) | |||||
Balance at end of period, assets | 1,172 | |||||
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 | |||||
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 | 1,079 | 909 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 153 | 155 | ||||
Settlements, assets | (157) | (165) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (55) | 207 | ||||
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 | 53 | (21) | ||||
Balance at end of period, assets | 1,073 | 1,073 | 1,085 | |||
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 | (60) | 210 | ||||
Recurring basis | Trading assets | Other | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,247 | 2,231 | ||||
Transfers in, assets | 22 | 100 | ||||
Transfers out, assets | (32) | (144) | ||||
Purchases, assets | 493 | 1,707 | ||||
Sales, assets | (617) | (2,639) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | (86) | (19) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 10 | (1) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 21 | 151 | ||||
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 | 60 | (30) | ||||
Balance at end of period, assets | 1,118 | 1,118 | 1,356 | |||
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 | (47) | 11 | ||||
Recurring basis | Other investments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 3,054 | 2,523 | ||||
Transfers in, assets | 3 | 2 | ||||
Transfers out, assets | (753) | 0 | ||||
Purchases, assets | 20 | 371 | ||||
Sales, assets | (473) | (107) | ||||
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 | (17) | 95 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 318 | (19) | ||||
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 | 79 | (26) | ||||
Balance at end of period, assets | 2,231 | 2,231 | 2,839 | |||
Recurring basis | Other investments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 43 | 38 | ||||
Recurring basis | Other investments | Other equity investments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 2,132 | 1,463 | ||||
Transfers in, assets | 0 | 1 | ||||
Transfers out, assets | (753) | 0 | ||||
Purchases, assets | 3 | 354 | ||||
Sales, assets | (375) | (19) | ||||
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 | (6) | (11) | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 318 | (18) | ||||
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 | 34 | (5) | ||||
Balance at end of period, assets | 1,353 | 1,353 | 1,765 | |||
Recurring basis | Other investments | Other equity investments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 52 | (35) | ||||
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 | 920 | 1,052 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 17 | 17 | ||||
Sales, assets | (94) | (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 | (11) | 106 | ||||
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 | (21) | ||||
Balance at end of period, assets | 877 | 877 | 1,066 | |||
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 | 18 | 74 | ||||
Recurring basis | Loans | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 3,669 | 3,835 | ||||
Transfers in, assets | 22 | 641 | ||||
Transfers out, assets | (533) | (375) | ||||
Purchases, assets | 357 | 90 | ||||
Sales, assets | (73) | (479) | ||||
Issuances, assets | 162 | 742 | ||||
Settlements, assets | (946) | (569) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 8 | 38 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 85 | (336) | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 1 | 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 | 176 | (74) | ||||
Balance at end of period, assets | 2,928 | 2,928 | 3,513 | |||
Recurring basis | Loans | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 25 | (296) | ||||
Recurring basis | Commercial and industrial loans | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,347 | 1,401 | ||||
Transfers in, assets | 22 | 390 | ||||
Transfers out, assets | (12) | (137) | ||||
Purchases, assets | 10 | 45 | ||||
Sales, assets | (31) | (282) | ||||
Issuances, assets | 119 | 447 | ||||
Settlements, assets | (184) | (173) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 14 | 3 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 57 | (194) | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 1 | 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 | 68 | (27) | ||||
Balance at end of period, assets | 1,411 | 1,411 | 1,473 | |||
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 | 36 | (205) | ||||
Recurring basis | Financial institutions loans | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,082 | 1,201 | ||||
Transfers in, assets | 0 | 44 | ||||
Transfers out, assets | (222) | (94) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | (42) | (32) | ||||
Issuances, assets | 32 | 275 | ||||
Settlements, assets | (296) | (211) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 3 | 13 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 40 | (70) | ||||
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 | 46 | (26) | ||||
Balance at end of period, assets | 643 | 643 | 1,100 | |||
Recurring basis | Financial institutions loans | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 4 | (77) | ||||
Recurring basis | Other intangible assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 180 | 244 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 22 | 0 | ||||
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 | (22) | (31) | ||||
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 | 9 | (4) | ||||
Balance at end of period, assets | 189 | 189 | 209 | |||
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 | (22) | (31) | ||||
Recurring basis | Other assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,825 | 1,846 | ||||
Transfers in, assets | 164 | 1,432 | ||||
Transfers out, assets | (451) | (383) | ||||
Purchases, assets | 2,500 | 2,400 | ||||
Sales, assets | (2,176) | (2,260) | ||||
Issuances, assets | 77 | 282 | ||||
Settlements, assets | (573) | (543) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 13 | 16 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (42) | (60) | ||||
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 | 99 | (149) | ||||
Balance at end of period, assets | 1,436 | 1,436 | 2,581 | |||
Recurring basis | Other assets | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | (76) | (6) | ||||
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 | 1,576 | 1,619 | ||||
Transfers in, assets | 164 | 1,409 | ||||
Transfers out, assets | (409) | (339) | ||||
Purchases, assets | 2,469 | 2,373 | ||||
Sales, assets | (2,137) | (2,259) | ||||
Issuances, assets | 77 | 282 | ||||
Settlements, assets | (571) | (543) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 11 | (8) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 19 | (87) | ||||
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 | 88 | (143) | ||||
Balance at end of period, assets | 1,287 | 1,287 | 2,304 | |||
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 | (41) | (87) | ||||
Recurring basis | Assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 16,364 | 16,334 | ||||
Transfers in, assets | 385 | 783 | 4,564 | |||
Transfers out, assets | (1,611) | (3,372) | (2,260) | |||
Purchases, assets | 5,435 | 7,306 | ||||
Sales, assets | (5,784) | (7,504) | ||||
Issuances, assets | 747 | 2,314 | ||||
Settlements, assets | (2,638) | (2,737) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 60 | 223 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 166 | 495 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | (1) | ||||
Gain (loss) on all other activity included in other revenues, assets | 297 | (50) | ||||
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 | 748 | (575) | ||||
Balance at end of period, assets | 12,806 | 12,806 | 18,109 | |||
Recurring basis | Assets | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 98 | 781 | ||||
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) | 15,973 | 15,973 | SFr 15,871 | |||
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 | 101 | 1 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 64 | 173 | ||||
Sales, assets | (86) | (1) | ||||
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 | 5 | (3) | ||||
Balance at end of period, assets | 84 | 84 | 170 | |||
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 | 7,535 | 7,885 | ||||
Transfers in, assets | 594 | 2,489 | ||||
Transfers out, assets | (1,635) | (1,502) | ||||
Purchases, assets | 2,472 | 4,272 | ||||
Sales, assets | (2,976) | (4,657) | ||||
Issuances, assets | 508 | 1,290 | ||||
Settlements, assets | (1,119) | (1,625) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 39 | 169 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 140 | 796 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | (1) | ||||
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 | 380 | (319) | ||||
Balance at end of period, assets | 5,938 | 5,938 | 8,797 | |||
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 | 128 | 1,076 | ||||
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 | 2,253 | 1,923 | ||||
Transfers in, assets | 296 | 1,654 | ||||
Transfers out, assets | (736) | (708) | ||||
Purchases, assets | 1,859 | 2,527 | ||||
Sales, assets | (2,285) | (2,000) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (7) | 59 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 138 | (122) | ||||
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 | 137 | (135) | ||||
Balance at end of period, assets | 1,655 | 1,655 | 3,198 | |||
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 | 103 | (19) | ||||
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 | 1,270 | 1,128 | ||||
Transfers in, assets | 137 | 559 | ||||
Transfers out, assets | (176) | (564) | ||||
Purchases, assets | 1,403 | 1,718 | ||||
Sales, assets | (1,913) | (1,230) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | 0 | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | (5) | 67 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 95 | 42 | ||||
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 | (78) | ||||
Balance at end of period, assets | 889 | 889 | 1,642 | |||
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 | 99 | 96 | ||||
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 | |||||
Transfers in, assets | 902 | |||||
Transfers out, assets | (70) | |||||
Purchases, assets | 557 | |||||
Sales, assets | (525) | |||||
Issuances, assets | 0 | |||||
Settlements, assets | 0 | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | (4) | |||||
Gain (loss) on all other activity included in trading revenues, assets | (70) | |||||
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 | (5) | |||||
Balance at end of period, assets | 1,102 | |||||
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) | |||||
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 | 3,911 | 3,534 | ||||
Transfers in, assets | 179 | 719 | ||||
Transfers out, assets | (856) | (629) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 508 | 1,290 | ||||
Settlements, assets | (1,033) | (1,606) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 29 | 111 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (30) | 834 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | (1) | ||||
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 | 175 | (151) | ||||
Balance at end of period, assets | 2,883 | 2,883 | 4,101 | |||
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 | 72 | 999 | ||||
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 | 733 | |||||
Transfers in, assets | 59 | |||||
Transfers out, assets | (81) | |||||
Purchases, assets | 0 | |||||
Sales, assets | 0 | |||||
Issuances, assets | 114 | |||||
Settlements, assets | (59) | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | |||||
Gain (loss) on all other activity included in trading revenues, assets | 18 | |||||
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 | 21 | |||||
Balance at end of period, assets | 805 | 805 | ||||
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 | 54 | |||||
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 | |||||
Transfers in, assets | 220 | |||||
Transfers out, assets | (240) | |||||
Purchases, assets | 0 | |||||
Sales, assets | 0 | |||||
Issuances, assets | 345 | |||||
Settlements, assets | (597) | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | 35 | |||||
Gain (loss) on all other activity included in trading revenues, assets | 345 | |||||
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 | (81) | |||||
Balance at end of period, assets | 1,067 | |||||
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 | |||||
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 | |||||
Transfers in, assets | 379 | |||||
Transfers out, assets | (305) | |||||
Purchases, assets | 0 | |||||
Sales, assets | 0 | |||||
Issuances, assets | 700 | |||||
Settlements, assets | (771) | |||||
Gain (loss) on transfers in/out included in trading revenues, assets | 100 | |||||
Gain (loss) on all other activity included in trading revenues, assets | 211 | |||||
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 | (21) | |||||
Balance at end of period, assets | 1,172 | |||||
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 | |||||
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 | 1,079 | 909 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | 0 | 0 | ||||
Issuances, assets | 153 | 155 | ||||
Settlements, assets | (157) | (165) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (55) | 207 | ||||
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 | 53 | (21) | ||||
Balance at end of period, assets | 1,073 | 1,073 | 1,085 | |||
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 | (60) | 210 | ||||
Bank | Recurring basis | Trading assets | Other | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,247 | 2,231 | ||||
Transfers in, assets | 22 | 100 | ||||
Transfers out, assets | (32) | (144) | ||||
Purchases, assets | 493 | 1,707 | ||||
Sales, assets | (617) | (2,639) | ||||
Issuances, assets | 0 | 0 | ||||
Settlements, assets | (86) | (19) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 10 | (1) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 21 | 151 | ||||
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 | 60 | (30) | ||||
Balance at end of period, assets | 1,118 | 1,118 | 1,356 | |||
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 | (47) | 11 | ||||
Bank | Recurring basis | Other investments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 3,054 | 2,523 | ||||
Transfers in, assets | 3 | 2 | ||||
Transfers out, assets | (753) | 0 | ||||
Purchases, assets | 20 | 371 | ||||
Sales, assets | (473) | (107) | ||||
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 | (17) | 95 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 318 | (19) | ||||
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 | 79 | (26) | ||||
Balance at end of period, assets | 2,231 | 2,231 | 2,839 | |||
Bank | Recurring basis | Other investments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 46 | 38 | ||||
Bank | Recurring basis | Other investments | Other equity investments | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 2,132 | 1,463 | ||||
Transfers in, assets | 0 | 1 | ||||
Transfers out, assets | (753) | 0 | ||||
Purchases, assets | 3 | 354 | ||||
Sales, assets | (375) | (19) | ||||
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 | (6) | (11) | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 318 | (18) | ||||
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 | 34 | (5) | ||||
Balance at end of period, assets | 1,353 | 1,353 | 1,765 | |||
Bank | Recurring basis | Other investments | Other equity investments | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 55 | (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 | 920 | 1,052 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 17 | 17 | ||||
Sales, assets | (94) | (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 | (11) | 106 | ||||
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 | (21) | ||||
Balance at end of period, assets | 877 | 877 | 1,066 | |||
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 | 18 | 74 | ||||
Bank | Recurring basis | Loans | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 3,669 | 3,835 | ||||
Transfers in, assets | 22 | 641 | ||||
Transfers out, assets | (533) | (375) | ||||
Purchases, assets | 357 | 90 | ||||
Sales, assets | (73) | (479) | ||||
Issuances, assets | 162 | 742 | ||||
Settlements, assets | (946) | (569) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 8 | 38 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 85 | (336) | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 1 | 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 | 176 | (74) | ||||
Balance at end of period, assets | 2,928 | 2,928 | 3,513 | |||
Bank | Recurring basis | Loans | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 25 | (296) | ||||
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 | 1,347 | 1,402 | ||||
Transfers in, assets | 22 | 390 | ||||
Transfers out, assets | (12) | (137) | ||||
Purchases, assets | 10 | 45 | ||||
Sales, assets | (31) | (282) | ||||
Issuances, assets | 119 | 447 | ||||
Settlements, assets | (184) | (173) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 14 | 3 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 57 | (194) | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 1 | 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 | 68 | (28) | ||||
Balance at end of period, assets | 1,411 | 1,411 | 1,473 | |||
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 | 36 | (205) | ||||
Bank | Recurring basis | Financial institutions loans | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,082 | 1,201 | ||||
Transfers in, assets | 0 | 44 | ||||
Transfers out, assets | (222) | (94) | ||||
Purchases, assets | 0 | 0 | ||||
Sales, assets | (42) | (32) | ||||
Issuances, assets | 32 | 275 | ||||
Settlements, assets | (296) | (211) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 3 | 13 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 40 | (70) | ||||
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 | 46 | (26) | ||||
Balance at end of period, assets | 643 | 643 | 1,100 | |||
Bank | Recurring basis | Financial institutions loans | Net Revenue [Member] | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Changes in unrealized gains/losses | 4 | (77) | ||||
Bank | Recurring basis | Other intangible assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 180 | 244 | ||||
Transfers in, assets | 0 | 0 | ||||
Transfers out, assets | 0 | 0 | ||||
Purchases, assets | 22 | 0 | ||||
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 | (22) | (31) | ||||
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 | 9 | (4) | ||||
Balance at end of period, assets | 189 | 189 | 209 | |||
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 | (22) | (31) | ||||
Bank | Recurring basis | Other assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 1,825 | 1,846 | ||||
Transfers in, assets | 164 | 1,432 | ||||
Transfers out, assets | (451) | (383) | ||||
Purchases, assets | 2,500 | 2,400 | ||||
Sales, assets | (2,176) | (2,260) | ||||
Issuances, assets | 77 | 282 | ||||
Settlements, assets | (573) | (543) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 13 | 16 | ||||
Gain (loss) on all other activity included in trading revenues, assets | (42) | (60) | ||||
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 | 99 | (149) | ||||
Balance at end of period, assets | 1,436 | 1,436 | 2,581 | |||
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 | (76) | (6) | ||||
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 | 1,576 | 1,619 | ||||
Transfers in, assets | 164 | 1,409 | ||||
Transfers out, assets | (409) | (339) | ||||
Purchases, assets | 2,469 | 2,373 | ||||
Sales, assets | (2,137) | (2,259) | ||||
Issuances, assets | 77 | 282 | ||||
Settlements, assets | (571) | (543) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 11 | (8) | ||||
Gain (loss) on all other activity included in trading revenues, assets | 19 | (87) | ||||
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 | 88 | (143) | ||||
Balance at end of period, assets | 1,287 | 1,287 | 2,304 | |||
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 | (41) | (87) | ||||
Bank | Recurring basis | Assets | ||||||
Assets measured at fair value on a recurring basis for level 3 | ||||||
Balance at beginning of period, assets | 16,364 | 16,334 | ||||
Transfers in, assets | 783 | 4,564 | ||||
Transfers out, assets | (3,372) | (2,260) | ||||
Purchases, assets | 5,435 | 7,306 | ||||
Sales, assets | (5,784) | (7,504) | ||||
Issuances, assets | 747 | 2,314 | ||||
Settlements, assets | (2,638) | (2,737) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 60 | 223 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 166 | 495 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | (1) | ||||
Gain (loss) on all other activity included in other revenues, assets | 297 | (50) | ||||
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 | 748 | (575) | ||||
Balance at end of period, assets | SFr 12,806 | 12,806 | 18,109 | |||
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 101 | SFr 781 | ||||
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 | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Customer deposits | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | SFr 448 | SFr 474 |
Transfers in, liabilities | 0 | 0 |
Transfers out, liabilities | 0 | 0 |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 0 | 0 |
Settlements, liabilities | 0 | (27) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | (8) | 35 |
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 | (13) | (22) |
Foreign currency translation impact, liabilities | 5 | (27) |
Balance at end of period, liabilities | 432 | 433 |
Customer deposits | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 10 | 9 |
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 | 101 | 1 |
Transfers in, liabilities | 0 | 0 |
Transfers out, liabilities | 0 | 0 |
Purchases, liabilities | 64 | 173 |
Sales, liabilities | (86) | (1) |
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 | 5 | (3) |
Balance at end of period, liabilities | 84 | 170 |
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 | 4,246 | 3,854 |
Transfers in, liabilities | 584 | 513 |
Transfers out, liabilities | (1,961) | (904) |
Purchases, liabilities | 80 | 210 |
Sales, liabilities | (24) | (195) |
Issuances, liabilities | 710 | 1,602 |
Settlements, liabilities | (1,138) | (1,276) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 152 | 184 |
Gain (loss) on all other activity included in trading revenues, liabilities | 169 | (151) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | (5) |
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 | 217 | (105) |
Balance at end of period, liabilities | 3,035 | 3,727 |
Trading liabilities | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 779 | 577 |
Trading liabilities | Derivative instruments | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 4,191 | 3,801 |
Transfers in, liabilities | 566 | 497 |
Transfers out, liabilities | (1,961) | (904) |
Purchases, liabilities | 69 | 0 |
Sales, liabilities | (4) | (3) |
Issuances, liabilities | 710 | 1,602 |
Settlements, liabilities | (1,138) | (1,276) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 152 | 184 |
Gain (loss) on all other activity included in trading revenues, liabilities | 193 | (136) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | (5) |
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 | 216 | (103) |
Balance at end of period, liabilities | 2,994 | 3,657 |
Trading liabilities | Derivative instruments | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 781 | 575 |
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 | 2,010 | 1,921 |
Transfers in, liabilities | 427 | 126 |
Transfers out, liabilities | (1,049) | (493) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 350 | 585 |
Settlements, liabilities | (527) | (486) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 151 | 69 |
Gain (loss) on all other activity included in trading revenues, liabilities | 265 | (262) |
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 | 111 | (59) |
Balance at end of period, liabilities | 1,738 | 1,401 |
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 | 529 | 274 |
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 | |
Transfers in, liabilities | 333 | |
Transfers out, liabilities | (373) | |
Purchases, liabilities | 0 | |
Sales, liabilities | 0 | |
Issuances, liabilities | 896 | |
Settlements, liabilities | (574) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 117 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (21) | |
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 | (31) | |
Balance at end of period, liabilities | 1,558 | |
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 | |
Short-term borrowings | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 701 | 997 |
Transfers in, liabilities | 155 | 52 |
Transfers out, liabilities | (207) | (200) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 930 | 470 |
Settlements, liabilities | (608) | (706) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (1) | (2) |
Gain (loss) on all other activity included in trading revenues, liabilities | 95 | (118) |
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 | 41 | (13) |
Balance at end of period, liabilities | 1,106 | 480 |
Short-term borrowings | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 67 | (40) |
Long-term debt | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 7,268 | 12,610 |
Transfers in, liabilities | 2,715 | 1,843 |
Transfers out, liabilities | (2,046) | (5,514) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 4,401 | 4,294 |
Settlements, liabilities | (3,119) | (3,614) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 62 | 461 |
Gain (loss) on all other activity included in trading revenues, liabilities | (4) | (1,241) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 4 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (3) | 87 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (30) | (166) |
Foreign currency translation impact, liabilities | 425 | (269) |
Balance at end of period, liabilities | 9,673 | 8,491 |
Long-term debt | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 210 | (110) |
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 | 1,133 | 891 |
Transfers in, liabilities | 1,165 | 186 |
Transfers out, liabilities | (732) | (423) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 1,127 | 632 |
Settlements, liabilities | (771) | (435) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 39 | 28 |
Gain (loss) on all other activity included in trading revenues, liabilities | 97 | (111) |
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 | 1 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (1) | 5 |
Foreign currency translation impact, liabilities | 67 | (18) |
Balance at end of period, liabilities | 2,124 | 756 |
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 | 39 | (30) |
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 | 5,526 | 11,458 |
Transfers in, liabilities | 1,532 | 707 |
Transfers out, liabilities | (1,287) | (5,077) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 3,020 | 3,631 |
Settlements, liabilities | (2,227) | (3,140) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 24 | 433 |
Gain (loss) on all other activity included in trading revenues, liabilities | (109) | (1,138) |
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 | (2) | 87 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (29) | (170) |
Foreign currency translation impact, liabilities | 329 | (245) |
Balance at end of period, liabilities | 6,777 | 6,546 |
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 | (59) | (89) |
Other liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,271 | 1,385 |
Transfers in, liabilities | 7 | 168 |
Transfers out, liabilities | (552) | (112) |
Purchases, liabilities | 24 | 195 |
Sales, liabilities | (46) | (227) |
Issuances, liabilities | 59 | 64 |
Settlements, liabilities | (424) | (289) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 8 | (27) |
Gain (loss) on all other activity included in trading revenues, liabilities | (8) | (15) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 107 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 38 | 86 |
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 | 51 | (27) |
Balance at end of period, liabilities | 535 | 1,201 |
Other liabilities | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 2 | 43 |
Liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 14,035 | 19,321 |
Transfers in, liabilities | 3,461 | 2,576 |
Transfers out, liabilities | (4,766) | (6,730) |
Purchases, liabilities | 168 | 578 |
Sales, liabilities | (156) | (423) |
Issuances, liabilities | 6,100 | 6,430 |
Settlements, liabilities | (5,289) | (5,912) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 221 | 616 |
Gain (loss) on all other activity included in trading revenues, liabilities | 244 | (1,490) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 107 | (5) |
Gain (loss) on all other activity included in other revenues, liabilities | 42 | 86 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (3) | 87 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (43) | (188) |
Foreign currency translation impact, liabilities | 744 | (444) |
Balance at end of period, liabilities | 14,865 | 14,502 |
Liabilities | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 1,068 | 479 |
Bank | Customer deposits | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 448 | 474 |
Transfers in, liabilities | 0 | 0 |
Transfers out, liabilities | 0 | 0 |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 0 | 0 |
Settlements, liabilities | 0 | (27) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | (8) | 35 |
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 | (13) | (22) |
Foreign currency translation impact, liabilities | 5 | (27) |
Balance at end of period, liabilities | 432 | 433 |
Bank | Customer deposits | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 10 | 9 |
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 | 101 | 1 |
Transfers in, liabilities | 0 | 0 |
Transfers out, liabilities | 0 | 0 |
Purchases, liabilities | 64 | 173 |
Sales, liabilities | (86) | (1) |
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 | 5 | (3) |
Balance at end of period, liabilities | 84 | 170 |
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 | 4,246 | 3,854 |
Transfers in, liabilities | 584 | 513 |
Transfers out, liabilities | (1,961) | (904) |
Purchases, liabilities | 80 | 210 |
Sales, liabilities | (24) | (195) |
Issuances, liabilities | 710 | 1,602 |
Settlements, liabilities | (1,138) | (1,276) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 152 | 184 |
Gain (loss) on all other activity included in trading revenues, liabilities | 169 | (151) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | (5) |
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 | 217 | (105) |
Balance at end of period, liabilities | 3,035 | 3,727 |
Bank | Trading liabilities | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 779 | 577 |
Bank | Trading liabilities | Derivative instruments | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 4,191 | 3,801 |
Transfers in, liabilities | 566 | 497 |
Transfers out, liabilities | (1,961) | (904) |
Purchases, liabilities | 69 | 0 |
Sales, liabilities | (4) | (3) |
Issuances, liabilities | 710 | 1,602 |
Settlements, liabilities | (1,138) | (1,276) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 152 | 184 |
Gain (loss) on all other activity included in trading revenues, liabilities | 193 | (136) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | (5) |
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 | 216 | (103) |
Balance at end of period, liabilities | 2,994 | 3,657 |
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 | 781 | 575 |
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 | 2,010 | 1,921 |
Transfers in, liabilities | 427 | 126 |
Transfers out, liabilities | (1,049) | (493) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 350 | 585 |
Settlements, liabilities | (527) | (486) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 151 | 69 |
Gain (loss) on all other activity included in trading revenues, liabilities | 265 | (262) |
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 | 111 | (59) |
Balance at end of period, liabilities | 1,738 | 1,401 |
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 | 529 | 274 |
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 | |
Transfers in, liabilities | 333 | |
Transfers out, liabilities | (373) | |
Purchases, liabilities | 0 | |
Sales, liabilities | 0 | |
Issuances, liabilities | 896 | |
Settlements, liabilities | (574) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 117 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (21) | |
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 | (31) | |
Balance at end of period, liabilities | 1,558 | |
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 | |
Bank | Short-term borrowings | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 701 | 997 |
Transfers in, liabilities | 155 | 52 |
Transfers out, liabilities | (207) | (200) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 930 | 470 |
Settlements, liabilities | (608) | (706) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (1) | (2) |
Gain (loss) on all other activity included in trading revenues, liabilities | 95 | (118) |
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 | 41 | (13) |
Balance at end of period, liabilities | 1,106 | 480 |
Bank | Short-term borrowings | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 67 | (40) |
Bank | Long-term debt | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 7,286 | 12,749 |
Transfers in, liabilities | 2,697 | 1,720 |
Transfers out, liabilities | (2,046) | (5,514) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 4,401 | 4,294 |
Settlements, liabilities | (3,119) | (3,614) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 62 | 461 |
Gain (loss) on all other activity included in trading revenues, liabilities | (8) | (1,241) |
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 | (3) | 87 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (30) | (165) |
Foreign currency translation impact, liabilities | 433 | (272) |
Balance at end of period, liabilities | 9,673 | 8,505 |
Bank | Long-term debt | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 203 | (107) |
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 | 1,133 | 891 |
Transfers in, liabilities | 1,165 | 186 |
Transfers out, liabilities | (732) | (423) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 1,127 | 632 |
Settlements, liabilities | (771) | (435) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 39 | 28 |
Gain (loss) on all other activity included in trading revenues, liabilities | 97 | (111) |
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 | 1 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (1) | 5 |
Foreign currency translation impact, liabilities | 67 | (18) |
Balance at end of period, liabilities | 2,124 | 756 |
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 | 39 | (30) |
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 | 5,526 | 11,458 |
Transfers in, liabilities | 1,532 | 707 |
Transfers out, liabilities | (1,287) | (5,077) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 3,020 | 3,631 |
Settlements, liabilities | (2,227) | (3,140) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 24 | 433 |
Gain (loss) on all other activity included in trading revenues, liabilities | (109) | (1,138) |
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 | (2) | 87 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (29) | (170) |
Foreign currency translation impact, liabilities | 329 | (245) |
Balance at end of period, liabilities | 6,777 | 6,546 |
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 | (59) | (89) |
Bank | Other liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,250 | 1,367 |
Transfers in, liabilities | 7 | 168 |
Transfers out, liabilities | (533) | (112) |
Purchases, liabilities | 24 | 195 |
Sales, liabilities | (46) | (227) |
Issuances, liabilities | 59 | 64 |
Settlements, liabilities | (416) | (283) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 8 | (27) |
Gain (loss) on all other activity included in trading revenues, liabilities | (8) | (17) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 102 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 38 | 84 |
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 | 50 | (27) |
Balance at end of period, liabilities | 535 | 1,185 |
Bank | Other liabilities | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 2 | 44 |
Bank | Liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 14,032 | 19,442 |
Transfers in, liabilities | 3,443 | 2,453 |
Transfers out, liabilities | (4,747) | (6,730) |
Purchases, liabilities | 168 | 578 |
Sales, liabilities | (156) | (423) |
Issuances, liabilities | 6,100 | 6,430 |
Settlements, liabilities | (5,281) | (5,906) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 221 | 616 |
Gain (loss) on all other activity included in trading revenues, liabilities | 240 | (1,492) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 102 | (5) |
Gain (loss) on all other activity included in other revenues, liabilities | 38 | 84 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (3) | 87 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (43) | (187) |
Foreign currency translation impact, liabilities | 751 | (447) |
Balance at end of period, liabilities | 14,865 | 14,500 |
Bank | Liabilities | Net Revenue [Member] | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | SFr 1,061 | SFr 483 |
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, 2021 | Jun. 30, 2020 | |
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, net assets/liabilities | SFr 2,329 | SFr (2,987) |
Transfers in, net assets/liabilities | (2,678) | 1,988 |
Transfers out, net assets/liabilities | 1,394 | 4,470 |
Purchases, net assets/liabilities | 5,267 | 6,728 |
Sales, net assets/liabilities | (5,628) | (7,081) |
Issuances, net assets/liabilities | (5,353) | (4,116) |
Settlements, net assets/liabilities | 2,651 | 3,175 |
Gain (loss) on transfers in/out included in trading revenues, net assets/liabilities | (161) | (393) |
Gain (loss) on all other activity included in trading revenues, net assets/liabilities | (78) | 1,985 |
Gain (loss) on transfers in/out included in other revenues, net assets/liabilities | (107) | 4 |
Gain (loss) on all other activity included in other revenues, net assets/liabilities | 255 | (136) |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, net assets/liabilities | 3 | (87) |
Gain (loss) on all other activity included in accumulated other comprehensive income, net assets/liabilities | 43 | 188 |
Foreign currency translation impact, net assets/liabilities | 4 | (131) |
Balance at beginning of period, net assets/liabilities | (2,059) | 3,607 |
Other Comprehensive Income (Loss) [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 16 | 49 |
Trading Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (1,011) | 289 |
Other Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 25 | (36) |
Net Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (970) | 302 |
Bank | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, net assets/liabilities | 2,332 | (3,108) |
Transfers in, net assets/liabilities | (2,660) | 2,111 |
Transfers out, net assets/liabilities | 1,375 | 4,470 |
Purchases, net assets/liabilities | 5,267 | 6,728 |
Sales, net assets/liabilities | (5,628) | (7,081) |
Issuances, net assets/liabilities | (5,353) | (4,116) |
Settlements, net assets/liabilities | 2,643 | 3,169 |
Gain (loss) on transfers in/out included in trading revenues, net assets/liabilities | (161) | (393) |
Gain (loss) on all other activity included in trading revenues, net assets/liabilities | (74) | 1,987 |
Gain (loss) on transfers in/out included in other revenues, net assets/liabilities | (102) | 4 |
Gain (loss) on all other activity included in other revenues, net assets/liabilities | 259 | (134) |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, net assets/liabilities | 3 | (87) |
Gain (loss) on all other activity included in accumulated other comprehensive income, net assets/liabilities | 43 | 187 |
Foreign currency translation impact, net assets/liabilities | (3) | (128) |
Balance at beginning of period, net assets/liabilities | (2,059) | 3,609 |
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 | 15 | 50 |
Bank | Trading Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (1,003) | 284 |
Bank | Other Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 28 | (36) |
Bank | Net Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | SFr (960) | SFr 298 |
FI - Difference between fair va
FI - Difference between fair value and unpaid principle balances (Details 10) - CHF (SFr) SFr in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Financial instruments | |||
Cash and Due from Banks | SFr 141 | SFr 91 | SFr 525 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 67,268 | 57,994 |
Loans | 11,101 | 11,827 | 11,408 |
Other assets | 10,342 | 15,033 | 8,373 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (10,983) | (9,591) | (13,594) |
Short-term borrowings | (8,554) | (11,020) | (10,740) |
Long-term debt | (69,436) | (72,312) | (70,976) |
Other liabilities | (7,911) | SFr (7,913) | (7,780) |
Aggregate fair value | |||
Loans | |||
Non-interest-earning loans | 591 | 543 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Loans | 11,101 | 11,408 | |
Other assets | 9,448 | 7,834 | |
Due to banks and customer deposits | (538) | (578) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (10,983) | (13,594) | |
Short-term borrowings | (8,554) | (10,740) | |
Long-term debt | (69,436) | (70,976) | |
Other liabilities | (883) | (616) | |
Aggregate unpaid principal | |||
Loans | |||
Non-interest-earning loans | 3,543 | 3,364 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,314 | 57,895 | |
Loans | 11,804 | 12,079 | |
Other assets | 12,122 | 10,090 | |
Due to banks and customer deposits | (471) | (489) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (10,982) | (13,578) | |
Short-term borrowings | (8,556) | (10,632) | |
Long-term debt | (71,204) | (73,842) | |
Other liabilities | (1,844) | (1,569) | |
Difference | |||
Loans | |||
Non-interest-earning loans, Difference | (2,952) | (2,821) | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 151 | 99 | |
Loans | (703) | (671) | |
Other assets | (2,674) | (2,256) | |
Due to banks and customer deposits | (67) | (89) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (1) | (16) | |
Short-term borrowings | 2 | (108) | |
Long-term debt | 1,768 | 2,866 | |
Other liabilities | 961 | 953 | |
Bank | |||
Financial instruments | |||
Cash and Due from Banks | 141 | 525 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Loans | 11,101 | 11,408 | |
Other assets | 10,342 | 8,373 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (11,080) | (13,688) | |
Short-term borrowings | (8,554) | (10,740) | |
Long-term debt | (68,486) | (70,243) | |
Other liabilities | (7,891) | (7,756) | |
Bank | Aggregate fair value | |||
Loans | |||
Non-interest-earning loans | 591 | 543 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Loans | 11,101 | 11,408 | |
Other assets | 9,448 | 7,834 | |
Due to banks and customer deposits | (538) | (578) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (11,080) | (13,688) | |
Short-term borrowings | (8,554) | (10,740) | |
Long-term debt | (68,486) | (70,243) | |
Other liabilities | (883) | (616) | |
Bank | Aggregate unpaid principal | |||
Loans | |||
Non-interest-earning loans | 3,543 | 3,364 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,314 | 57,895 | |
Loans | 11,804 | 12,079 | |
Other assets | 12,122 | 10,090 | |
Due to banks and customer deposits | (471) | (489) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (11,079) | (13,672) | |
Short-term borrowings | (8,556) | (10,632) | |
Long-term debt | (70,327) | (73,175) | |
Other liabilities | (1,844) | (1,569) | |
Bank | Difference | |||
Loans | |||
Non-interest-earning loans, Difference | (2,952) | (2,821) | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 151 | 99 | |
Loans | (703) | (671) | |
Other assets | (2,674) | (2,256) | |
Due to banks and customer deposits | (67) | (89) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (1) | (16) | |
Short-term borrowings | 2 | (108) | |
Long-term debt | 1,841 | 2,932 | |
Other liabilities | SFr 961 | SFr 953 |
FI - Gains_losses on financial
FI - Gains/losses on financial instruments (Details 11) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Interest-bearing deposits with banks | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | SFr 18 | SFr 1 |
Net gains/(losses) of which related to credit risk - on assets | 8 | (6) |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 306 | 789 |
Other investments | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 293 | 205 |
Net gains/(losses) of which related to credit risk - on assets | 0 | 1 |
Loans | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 277 | (247) |
Net gains/(losses) of which related to credit risk - on assets | 59 | (575) |
Other assets | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 405 | 416 |
Net gains/(losses) of which related to credit risk - on assets | 173 | (19) |
Due to banks and customer deposits | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (37) | (39) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (29) | (82) |
Short-term borrowings | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (406) | (16) |
Net gains/(losses) of which related to credit risk - on liabilities | (1) | 1 |
Long-term debt | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (3,802) | 1,270 |
Net gains/(losses) of which related to credit risk - on liabilities | 0 | 14 |
Other liabilities | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 120 | (102) |
Net gains/(losses) of which related to credit risk - on liabilities | 67 | (124) |
Bank | Interest-bearing deposits with banks | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 18 | 1 |
Net gains/(losses) of which related to credit risk - on assets | 8 | (6) |
Bank | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 306 | 789 |
Bank | Other investments | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 293 | 205 |
Net gains/(losses) of which related to credit risk - on assets | 0 | 1 |
Bank | Loans | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 277 | (247) |
Net gains/(losses) of which related to credit risk - on assets | 59 | (575) |
Bank | Other assets | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 405 | 416 |
Net gains/(losses) of which related to credit risk - on assets | 173 | (19) |
Bank | Due to banks and customer deposits | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (37) | (39) |
Bank | Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (29) | (82) |
Bank | Short-term borrowings | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (406) | (16) |
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) | (3,347) | 1,842 |
Net gains/(losses) of which related to credit risk - on liabilities | 0 | 14 |
Bank | Other liabilities | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 120 | (102) |
Net gains/(losses) of which related to credit risk - on liabilities | SFr 67 | SFr (124) |
FI - Quantitative information a
FI - Quantitative information about level 3 assets at fair value (Details 14) SFr in Millions, Pure in Millions | Jun. 30, 2021CHF (SFr) | Mar. 31, 2021CHF (SFr) | Dec. 31, 2020CHF (SFr) |
Assets | |||
Cash and Due from Banks | SFr 141 | SFr 91 | SFr 525 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 67,268 | 57,994 |
Securities received as collateral | 38,686 | 56,494 | 50,773 |
Trading assets | 130,505 | 157,139 | 157,338 |
Available-for-sale Securities, Debt Securities | 794 | 614 | 607 |
Other investments | 2,747 | 3,937 | 3,794 |
Loans | 11,101 | 11,827 | 11,408 |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 181 | 180 |
Other assets | 10,342 | SFr 15,033 | 8,373 |
Recurring basis | |||
Assets | |||
Cash and Due from Banks | 141 | 525 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Securities received as collateral | 38,686 | 50,773 | |
Trading assets | 130,505 | 157,338 | |
Available-for-sale Securities, Debt Securities | 794 | 607 | |
Other investments | 2,747 | 3,794 | |
Loans | 11,101 | 11,408 | |
Loans - of which commercial and industrial | 3,123 | 3,534 | |
Loans - of which financial institutions | 4,601 | 4,588 | |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 180 | |
Other assets | 10,342 | 8,373 | |
Other assets - of which loans held-for-sale | 7,720 | 6,446 | |
Total assets at fair value | 263,970 | 290,992 | |
Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 1,747 | 2,759 | |
Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 877 | 920 | |
Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 57,620 | 64,395 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 22,301 | 27,957 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 11,078 | 11,477 | |
Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 21,005 | 21,439 | |
Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 44,226 | 63,237 | |
Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 24,156 | 25,531 | |
Recurring basis | Other | |||
Assets | |||
Trading assets | 4,503 | 4,175 | |
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 | 84 | 101 | |
Trading assets | 5,938 | 7,535 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 2,231 | 3,054 | |
Loans | 2,928 | 3,669 | |
Loans - of which commercial and industrial | 1,411 | 1,347 | |
Loans - of which financial institutions | 643 | 1,082 | |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 180 | |
Other assets | 1,436 | 1,825 | |
Other assets - of which loans held-for-sale | 1,287 | 1,576 | |
Total assets at fair value | 12,806 | 16,364 | |
Recurring basis | Level 3 | Option model | |||
Assets | |||
Loans - of which commercial and industrial | 72 | ||
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Loans - of which commercial and industrial | 724 | 908 | |
Loans - of which financial institutions | 529 | 674 | |
Other assets - of which loans held-for-sale | SFr 354 | SFr 296 | |
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 | 146 | 237 | |
Loans - of which financial institutions, measurement input | 164 | 192 | |
Other assets - of which loans held-for-sale, measurement input | 279 | 246 | |
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 | 2,014 | 1,480 | |
Loans - of which financial institutions, measurement input | 1,615 | 1,698 | |
Other assets - of which loans held-for-sale, measurement input | 932 | 506 | |
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 | 589 | 554 | |
Loans - of which financial institutions, measurement input | 622 | 612 | |
Other assets - of which loans held-for-sale, measurement input | 325 | 343 | |
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 | ||
Loans - of which financial institutions, measurement input | 25 | ||
Other assets - of which loans held-for-sale, measurement input | 1 | ||
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 | 25 | ||
Loans - of which financial institutions, measurement input | 40 | ||
Other assets - of which loans held-for-sale, measurement input | 40 | ||
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 | 25 | ||
Loans - of which financial institutions, measurement input | 25 | ||
Other assets - of which loans held-for-sale, measurement input | 34 | ||
Recurring basis | Level 3 | Price | |||
Assets | |||
Loans - of which commercial and industrial | SFr 597 | ||
Loans - of which financial institutions | SFr 113 | ||
Recurring basis | Level 3 | Price | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 300 | ||
Recurring basis | Level 3 | Price | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 300 | ||
Recurring basis | Level 3 | Price | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 300 | ||
Recurring basis | Level 3 | Price | Measurement Input, Quoted Price [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 7 | ||
Loans - of which financial institutions, measurement input | 10 | ||
Recurring basis | Level 3 | Price | Measurement Input, Quoted Price [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 100 | ||
Loans - of which financial institutions, measurement input | 61 | ||
Recurring basis | Level 3 | Price | Measurement Input, Quoted Price [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 77 | ||
Loans - of which financial institutions, measurement input | 28 | ||
Recurring basis | Level 3 | Vendor price | |||
Assets | |||
Other assets - of which loans held-for-sale | SFr 17 | ||
Recurring basis | Level 3 | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Other assets - of which loans held-for-sale, measurement input | 0 | ||
Recurring basis | Level 3 | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Other assets - of which loans held-for-sale, measurement input | 63 | ||
Recurring basis | Level 3 | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Other assets - of which loans held-for-sale, measurement input | 53 | ||
Recurring basis | Level 3 | Market comparable | |||
Assets | |||
Loans - of which commercial and industrial | SFr 338 | ||
Loans - of which financial institutions | 190 | ||
Other assets - of which loans held-for-sale | SFr 885 | SFr 1,277 | |
Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 0 | ||
Loans - of which financial institutions, measurement input | 0 | ||
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 | ||
Loans - of which financial institutions, measurement input | 100 | ||
Other assets - of which loans held-for-sale, measurement input | 152 | 111 | |
Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 70 | ||
Loans - of which financial institutions, measurement input | 54 | ||
Other assets - of which loans held-for-sale, measurement input | 81 | 71 | |
Recurring basis | Level 3 | Market comparable | Measurement Input, Pre-IPO instrinsic option [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 100 | ||
Recurring basis | Level 3 | Market comparable | Measurement Input, Pre-IPO instrinsic option [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 100 | ||
Recurring basis | Level 3 | Market comparable | Measurement Input, Pre-IPO instrinsic option [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 100 | ||
Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | SFr 1,353 | SFr 2,132 | |
Recurring basis | Level 3 | Other equity investments | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Other investments | 1 | ||
Recurring basis | Level 3 | Other equity investments | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Other investments | 1,244 | ||
Recurring basis | Level 3 | Other equity investments | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Other investments | 425 | ||
Recurring basis | Level 3 | Other equity investments | Vendor price | |||
Assets | |||
Other investments | 110 | ||
Recurring basis | Level 3 | Other equity investments | NAV/adjusted NAV | |||
Assets | |||
Other investments | 974 | 974 | |
Recurring basis | Level 3 | Other equity investments | NAV/adjusted NAV | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Other investments | 310 | 310 | |
Recurring basis | Level 3 | Other equity investments | NAV/adjusted NAV | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Other investments | 310 | 310 | |
Recurring basis | Level 3 | Other equity investments | NAV/adjusted NAV | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Other investments | 310 | 310 | |
Recurring basis | Level 3 | Other equity investments | Market comparable | |||
Assets | |||
Other investments | 326 | ||
Recurring basis | Level 3 | Other equity investments | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Other investments | 100 | ||
Recurring basis | Level 3 | Other equity investments | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Other investments | 100 | ||
Recurring basis | Level 3 | Other equity investments | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Other investments | 100 | ||
Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 877 | 920 | |
Recurring basis | Level 3 | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Other investments | 2 | ||
Recurring basis | Level 3 | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Other investments | 16 | ||
Recurring basis | Level 3 | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Other investments | 6 | ||
Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 1,655 | 2,253 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 40 | 140 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 889 | 1,270 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Option model | |||
Assets | |||
Trading assets | 641 | 416 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 172 | SFr 386 | |
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 | 40 | (9) | |
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 | 973 | 1,509 | |
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 | 1,928 | 1,007 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Price in percent [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Price in percent [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Price in percent [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 28 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Buyback probability [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 50 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Buyback probability [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Buyback probability [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 73 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (4) | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 105 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 81 | ||
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 | (85) | (50) | |
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 | 100 | 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 | 68 | 55 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Fund gap risk [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Fund gap risk [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 3 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 1 | ||
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 | ||
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 | ||
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 | ||
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 | 137 | 158 | |
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 | 18 | 23 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | |||
Assets | |||
Trading assets | SFr 55 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price in percent [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 32 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price in percent [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 116 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price in percent [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 86 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | |||
Assets | |||
Trading assets | SFr 5 | SFr 71 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 153 | 2,292 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 135 | 1,654 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Unadjusted NAV [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Unadjusted NAV [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Unadjusted NAV [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 1 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | |||
Assets | |||
Trading assets | SFr 12 | SFr 321 | |
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 | 100 | 227 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 63 | 95 | |
Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | SFr 477 | SFr 557 | |
Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | 282 | 124 | |
Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | 2,883 | 3,911 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 805 | 733 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | |||
Assets | |||
Trading assets | 756 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 7 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 3 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 10 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 93 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 97 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 95 | ||
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 | ||
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 | ||
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 | 8 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Mean reversion [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (55) | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Mean reversion [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | (8) | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Mean reversion [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 0 | ||
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 | 3 | ||
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 | 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 | 10 | ||
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 | (3) | ||
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 | 1 | ||
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 | 0 | ||
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | SFr 139 | 143 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 490 | SFr 1,186 | |
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 | ||
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 | ||
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 | 66 | ||
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) | ||
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 | 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 | 58 | ||
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 | ||
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 | 4 | ||
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 | ||
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 | (2) | ||
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 | 158 | ||
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 | 24 | ||
Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | SFr 1,073 | SFr 1,079 | |
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 | 14 | |
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 | 72 | 72 | |
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 | 137 | 137 | |
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 | 98 | 98 | |
Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | SFr 1,118 | SFr 1,247 | |
Recurring basis | Level 3 | Other | Option model | |||
Assets | |||
Trading assets | SFr 133 | ||
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 70 | ||
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | ||
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 728 | 766 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Other investments | 9 | ||
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Other investments | 9 | ||
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Other investments | 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 | 3 | |
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 | 14 | |
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 | 7 | 7 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Terminal Growth Rate [Member] | Minimum | |||
Assets | |||
Other investments | SFr 3 | ||
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Terminal Growth Rate [Member] | Maximum | |||
Assets | |||
Other investments | 3 | ||
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Terminal Growth Rate [Member] | Weighted average | |||
Assets | |||
Other investments | 3 | ||
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Tax Swap Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 30 | ||
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Tax Swap Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 30 | ||
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Tax Swap Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 30 | ||
Recurring basis | Level 3 | Other | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Other investments | 1 | ||
Recurring basis | Level 3 | Other | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Other investments | 1,249 | ||
Recurring basis | Level 3 | Other | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Other investments | 713 | ||
Recurring basis | Level 3 | Other | Market comparable | |||
Assets | |||
Trading assets | SFr 256 | ||
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Other investments | 100 | ||
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 125 | ||
Other investments | 100 | ||
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 28 | ||
Other investments | 100 | ||
Recurring basis | Level 3 | Other | Other equity investments | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Other investments | 840 | ||
Recurring basis | Level 3 | Other | Other equity investments | Market comparable | |||
Assets | |||
Other investments | 118 | ||
Recurring basis | Level 3 | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Other investments | 2 | ||
Recurring basis | Level 3 | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Other investments | 15 | ||
Recurring basis | Level 3 | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Other investments | 6 | ||
Bank | |||
Assets | |||
Cash and Due from Banks | SFr 141 | 525 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Securities received as collateral | 38,686 | 50,773 | |
Trading assets | 130,684 | 157,511 | |
Available-for-sale Securities, Debt Securities | 792 | 605 | |
Other investments | 2,746 | 3,793 | |
Loans | 11,101 | 11,408 | |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 180 | |
Other assets | 10,342 | 8,373 | |
Bank | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 141 | 525 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Securities received as collateral | 38,686 | 50,773 | |
Trading assets | 130,684 | 157,511 | |
Available-for-sale Securities, Debt Securities | 792 | 605 | |
Other investments | 2,746 | 3,793 | |
Loans | 11,101 | 11,408 | |
Loans - of which commercial and industrial | 3,123 | 3,534 | |
Loans - of which financial institutions | 4,601 | 4,588 | |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 180 | |
Other assets | 10,342 | 8,373 | |
Other assets - of which loans held-for-sale | 7,720 | 6,446 | |
Total assets at fair value | 264,146 | 291,162 | |
Bank | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 1,746 | 2,760 | |
Bank | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 877 | 920 | |
Bank | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 57,739 | 64,532 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 22,301 | 27,957 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 11,197 | 11,614 | |
Bank | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 21,005 | 21,439 | |
Bank | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 44,287 | 63,273 | |
Bank | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 24,155 | 25,531 | |
Bank | Recurring basis | Other | |||
Assets | |||
Trading assets | 4,503 | 4,175 | |
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 | 84 | 101 | |
Trading assets | 5,938 | 7,535 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 2,231 | 3,054 | |
Loans | 2,928 | 3,669 | |
Loans - of which commercial and industrial | 1,411 | 1,347 | |
Loans - of which financial institutions | 643 | 1,082 | |
Other intangible assets (mortgage servicing rights), at fair value | 189 | 180 | |
Other assets | 1,436 | 1,825 | |
Other assets - of which loans held-for-sale | 1,287 | 1,576 | |
Total assets at fair value | 12,806 | 16,364 | |
Bank | Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | 1,353 | 2,132 | |
Bank | Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 877 | 920 | |
Bank | Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 1,655 | 2,253 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 40 | 140 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 889 | 1,270 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 477 | 557 | |
Bank | Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | 282 | 124 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | 2,883 | 3,911 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 805 | 733 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 139 | 143 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 490 | 1,186 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 1,073 | 1,079 | |
Bank | Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | SFr 1,118 | SFr 1,247 |
FI - Quantitative information_2
FI - Quantitative information about level 3 liabilities at fair value (Details 15) SFr in Millions, Pure in Millions | Jun. 30, 2021CHF (SFr) | Mar. 31, 2021CHF (SFr) | Dec. 31, 2020CHF (SFr) |
Liabilities | |||
Due to banks | SFr 330 | SFr 800 | SFr 413 |
Customer deposits | 3,921 | 4,221 | 4,343 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,983 | 9,591 | 13,594 |
Obligation to return securities received as collateral | 38,686 | 56,494 | 50,773 |
Trading liabilities | 32,972 | 47,740 | 45,871 |
Short-term borrowings | 8,554 | 11,020 | 10,740 |
Long-term debt | 69,436 | 72,312 | 70,976 |
Other liabilities | 7,911 | SFr 7,913 | 7,780 |
Recurring basis | |||
Liabilities | |||
Due to banks | 330 | 413 | |
Customer deposits | 3,921 | 4,343 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,983 | 13,594 | |
Obligation to return securities received as collateral | 38,686 | 50,773 | |
Trading liabilities | 32,972 | 45,871 | |
Short-term borrowings | 8,554 | 10,740 | |
Long-term debt | 69,436 | 70,976 | |
Other liabilities | 7,911 | 7,780 | |
Total liabilities at fair value | 172,793 | 204,490 | |
Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 13,866 | 12,920 | |
Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 30,865 | 33,856 | |
Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 11,080 | 10,586 | |
Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 8,053 | ||
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 4,133 | ||
Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 12,316 | 20,694 | |
Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 12,603 | 17,745 | |
Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 432 | 448 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 84 | 101 | |
Trading liabilities | 3,035 | 4,246 | |
Short-term borrowings | 1,106 | 701 | |
Long-term debt | 9,673 | 7,268 | |
Other liabilities | 535 | 1,271 | |
Total liabilities at fair value | 14,865 | 14,035 | |
Recurring basis | Level 3 | Option model | |||
Liabilities | |||
Short-term borrowings | SFr 968 | SFr 508 | |
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 | 73 | 66 | |
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | (85) | (50) | |
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 68 | 56 | |
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 | 3 | 2 | |
Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 1 | 0 | |
Recurring basis | Level 3 | Option model | Measurement Input, Gap risk [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | ||
Recurring basis | Level 3 | Option model | Measurement Input, Gap risk [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 4 | ||
Recurring basis | Level 3 | Option model | Measurement Input, Gap risk [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 1 | ||
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | 3 | |
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 137 | 158 | |
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 16 | 30 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Short-term borrowings | SFr 44 | SFr 58 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 104 | (4) | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 1,036 | 992 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 788 | 722 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 35 | ||
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 40 | ||
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 39 | ||
Recurring basis | Level 3 | Price | |||
Liabilities | |||
Short-term borrowings | SFr 12 | ||
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 59 | ||
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 59 | ||
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 59 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | SFr 2,124 | SFr 1,133 | |
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 2,110 | SFr 1,051 | |
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 | 73 | 66 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (4) | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 105 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 81 | ||
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 | (85) | (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 | 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, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 69 | 55 | |
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 | 3 | 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 | 1 | 0 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to 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 one year and up to two years | Option model | Measurement Input, Gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 4 | 4 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 1 | 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] | 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, Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 137 | 158 | |
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 | 18 | 24 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Unadjusted NAV [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 42 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Unadjusted NAV [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 3,544 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Unadjusted NAV [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 876 | ||
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 12 | SFr 48 | |
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 | 40 | 35 | |
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 | 40 | 189 | |
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 | 40 | 52 | |
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 | ||
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 | ||
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 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | SFr 6,777 | SFr 5,526 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | |||
Liabilities | |||
Long-term debt | SFr 6,521 | SFr 3,961 | |
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 | 73 | 66 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (4) | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 105 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 81 | ||
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 | (85) | (50) | |
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 | 100 | 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 | 68 | 55 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 3 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 1 | ||
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 | ||
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 | ||
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 | ||
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) | ||
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 | ||
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 | (5) | ||
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 | 137 | 158 | |
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 | 14 | 21 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Unadjusted NAV [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 42 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Unadjusted NAV [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 3,544 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Unadjusted NAV [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 876 | ||
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 110 | SFr 1,380 | |
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 | 2 | (14) | |
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 | 309 | 481 | |
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 | 84 | 58 | |
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 | 23 | ||
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 | 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 | 38 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | |||
Liabilities | |||
Long-term debt | SFr 12 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | Measurement Input, Price in percent [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 4 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | Measurement Input, Price in percent [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 26 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | Measurement Input, Price in percent [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 21 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Market comparable | |||
Liabilities | |||
Long-term debt | SFr 9 | ||
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 | 27 | ||
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 | 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 | 27 | ||
Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | SFr 0 | SFr 0 | |
Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | 0 | ||
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | ||
Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | 41 | 55 | |
Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 2,994 | 4,191 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 142 | 169 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 62 | 72 | |
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 1,335 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | |||
Liabilities | |||
Trading liabilities | SFr 12 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 13 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 865 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 250 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 49 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 50 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 50 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Trading liabilities | SFr 738 | ||
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 | 0 | ||
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 | 1,468 | ||
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 | 391 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 37 | ||
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 | ||
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 | 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 | ||
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 | 7 | ||
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 | 3 | ||
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 | 6 | ||
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 | 19 | ||
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 | 14 | ||
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 | 55 | ||
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 | 183 | ||
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 | 120 | ||
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 | ||
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 | 100 | ||
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 | 68 | ||
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 | ||
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 | 9 | ||
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 | 7 | ||
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 | 12 | ||
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 | 81 | ||
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 | 38 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | |||
Liabilities | |||
Trading liabilities | SFr 520 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 84 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 116 | ||
Recurring basis | Level 3 | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 99 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 1,738 | SFr 2,010 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | |||
Liabilities | |||
Trading liabilities | SFr 1,688 | ||
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 | 73 | 66 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (85) | (50) | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 67 | 58 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (3) | (2) | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 137 | 158 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 18 | 27 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Unadjusted NAV [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 42 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Unadjusted NAV [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 3,544 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Unadjusted NAV [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 876 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Dividend yield [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Dividend yield [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 8 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Dividend yield [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 4 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | |||
Liabilities | |||
Trading liabilities | SFr 46 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 1,636 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Market comparable | |||
Liabilities | |||
Trading liabilities | SFr 3 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 34 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 30 | ||
Bank | |||
Liabilities | |||
Due to banks | SFr 330 | SFr 413 | |
Customer deposits | 3,921 | 4,343 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 11,080 | 13,688 | |
Obligation to return securities received as collateral | 38,686 | 50,773 | |
Trading liabilities | 32,971 | 45,871 | |
Short-term borrowings | 8,554 | 10,740 | |
Long-term debt | 68,486 | 70,243 | |
Other liabilities | 7,891 | 7,756 | |
Bank | Recurring basis | |||
Liabilities | |||
Due to banks | 330 | 413 | |
Customer deposits | 3,921 | 4,343 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 11,080 | 13,688 | |
Obligation to return securities received as collateral | 38,686 | 50,773 | |
Trading liabilities | 32,971 | 45,871 | |
Short-term borrowings | 8,554 | 10,740 | |
Long-term debt | 68,486 | 70,243 | |
Other liabilities | 7,891 | 7,756 | |
Total liabilities at fair value | 171,919 | 203,827 | |
Bank | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 13,866 | 12,920 | |
Bank | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 30,865 | 33,856 | |
Bank | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 11,124 | 10,627 | |
Bank | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 8,054 | ||
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 4,133 | ||
Bank | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 12,315 | 20,694 | |
Bank | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 12,602 | 17,745 | |
Bank | Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 432 | 448 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 84 | 101 | |
Trading liabilities | 3,035 | 4,246 | |
Short-term borrowings | 1,106 | 701 | |
Long-term debt | 9,673 | 7,286 | |
Other liabilities | 535 | 1,250 | |
Total liabilities at fair value | 14,865 | 14,032 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 2,124 | 1,133 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 6,777 | 5,526 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | 0 | ||
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | ||
Bank | Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | 41 | 55 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 2,994 | 4,191 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 142 | 169 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 62 | 72 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 1,335 | ||
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | SFr 1,738 | SFr 2,010 |
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, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | SFr 69,465 | SFr 67,268 | SFr 57,994 |
Available-for-sale Securities, Debt Securities | 794 | 614 | 607 |
Loans | 11,101 | 11,827 | 11,408 |
Other assets | 10,342 | 15,033 | 8,373 |
Financial liabilities | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,983 | 9,591 | 13,594 |
Short-term borrowings | 8,554 | 11,020 | 10,740 |
Long-term debt | 69,436 | 72,312 | 70,976 |
Other liabilities | 7,911 | SFr 7,913 | 7,780 |
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 | 25,179 | 21,139 | |
Loans | 285,192 | 277,137 | |
Other assets | 161,682 | 155,266 | |
Financial liabilities | |||
Due to banks and deposits | 413,995 | 402,589 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,941 | 10,256 | |
Short-term borrowings | 13,813 | 10,128 | |
Long-term debt | 100,790 | 90,111 | |
Other liabilities | 14,389 | 16,012 | |
Estimate of fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 25,180 | 21,139 | |
Loans | 293,806 | 287,194 | |
Other assets | 161,764 | 155,290 | |
Financial liabilities | |||
Due to banks and deposits | 414,062 | 402,624 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,941 | 10,256 | |
Short-term borrowings | 13,813 | 10,128 | |
Long-term debt | 103,835 | 93,214 | |
Other liabilities | 14,356 | 15,979 | |
Estimate of fair value | Level 1 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Loans | 0 | 0 | |
Other assets | 145,446 | 138,672 | |
Financial liabilities | |||
Due to banks and deposits | 239,202 | 234,700 | |
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 | 25,180 | 21,139 | |
Loans | 280,554 | 272,660 | |
Other assets | 16,030 | 16,315 | |
Financial liabilities | |||
Due to banks and deposits | 174,860 | 167,924 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,941 | 10,256 | |
Short-term borrowings | 13,813 | 10,128 | |
Long-term debt | 100,867 | 90,897 | |
Other liabilities | 13,950 | 15,567 | |
Estimate of fair value | Level 3 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Loans | 13,252 | 14,534 | |
Other assets | 288 | 303 | |
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 | 2,968 | 2,317 | |
Other liabilities | 406 | 412 | |
Bank | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 69,465 | 57,994 | |
Available-for-sale Securities, Debt Securities | 792 | 605 | |
Loans | 11,101 | 11,408 | |
Other assets | 10,342 | 8,373 | |
Financial liabilities | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 11,080 | 13,688 | |
Short-term borrowings | 8,554 | 10,740 | |
Long-term debt | 68,486 | 70,243 | |
Other liabilities | 7,891 | 7,756 | |
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 | 25,179 | 21,139 | |
Loans | 293,508 | 285,570 | |
Other assets | 160,724 | 154,441 | |
Financial liabilities | |||
Due to banks and deposits | 415,020 | 403,704 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,941 | 10,256 | |
Short-term borrowings | 17,665 | 10,568 | |
Long-term debt | 95,807 | 90,035 | |
Other liabilities | 14,484 | 16,131 | |
Bank | Estimate of fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 25,180 | 21,139 | |
Loans | 302,123 | 295,631 | |
Other assets | 160,788 | 154,464 | |
Financial liabilities | |||
Due to banks and deposits | 415,087 | 403,739 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,941 | 10,256 | |
Short-term borrowings | 17,666 | 10,569 | |
Long-term debt | 98,795 | 93,033 | |
Other liabilities | 14,451 | 16,097 | |
Bank | Estimate of fair value | Level 1 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Loans | 0 | 0 | |
Other assets | 144,457 | 137,763 | |
Financial liabilities | |||
Due to banks and deposits | 239,969 | 235,477 | |
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 | 25,180 | 21,139 | |
Loans | 288,871 | 281,097 | |
Other assets | 16,058 | 16,399 | |
Financial liabilities | |||
Due to banks and deposits | 175,118 | 168,262 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,941 | 10,256 | |
Short-term borrowings | 17,666 | 10,569 | |
Long-term debt | 95,840 | 90,716 | |
Other liabilities | 14,069 | 15,694 | |
Bank | Estimate of fair value | Level 3 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Loans | 13,252 | 14,534 | |
Other assets | 273 | 302 | |
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 | 2,955 | 2,317 | |
Other liabilities | SFr 382 | SFr 403 |
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, 2021 | Jun. 30, 2020 | |
Financial instruments | ||
Gains/(losses) recorded into AOCI | SFr (516) | SFr (3,189) |
Gains/(losses) recorded into AOCI, Cumulatively | (2,583) | |
Gains/(losses) recorded into AOCI transferred to net income | 31 | 22 |
Due to banks and customer deposits | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (1) | (15) |
Gains/(losses) recorded into AOCI, Cumulatively | (64) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Short-term borrowings | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 3 | (24) |
Gains/(losses) recorded into AOCI, Cumulatively | (55) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Long-term debt | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (518) | (3,150) |
Gains/(losses) recorded into AOCI, Cumulatively | (2,464) | |
Gains/(losses) recorded into AOCI transferred to net income | 31 | 22 |
Long-term debt - of which structured notes over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (9) | (1,253) |
Gains/(losses) recorded into AOCI, Cumulatively | (1,252) | |
Gains/(losses) recorded into AOCI transferred to net income | 31 | 22 |
Long-term debt - of which treasury debt over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (523) | (1,632) |
Gains/(losses) recorded into AOCI, Cumulatively | (1,121) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Bank | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 5 | 1,724 |
Gains/(losses) recorded into AOCI, Cumulatively | (2,516) | |
Gains/(losses) recorded into AOCI transferred to net income | 77 | 99 |
Bank | Due to banks and customer deposits | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 13 | 23 |
Gains/(losses) recorded into AOCI, Cumulatively | (64) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Bank | Short-term borrowings | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 13 | (22) |
Gains/(losses) recorded into AOCI, Cumulatively | (55) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Bank | Long-term debt | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (21) | 1,723 |
Gains/(losses) recorded into AOCI, Cumulatively | (2,397) | |
Gains/(losses) recorded into AOCI transferred to net income | 77 | 99 |
Bank | Long-term debt - of which structured notes over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 269 | 300 |
Gains/(losses) recorded into AOCI, Cumulatively | (1,262) | |
Gains/(losses) recorded into AOCI transferred to net income | 77 | 99 |
Bank | Long-term debt - of which treasury debt over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (321) | 1,306 |
Gains/(losses) recorded into AOCI, Cumulatively | (1,044) | |
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, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | |
Assets pledged and collateral | |||
Total assets pledged or assigned as collateral | SFr 144,355 | SFr 116,523 | SFr 144,355 |
of which encumbered | 82,950 | 55,154 | 82,950 |
Fair value of collateral received with the right to sell or repledge | 385,515 | 370,803 | 385,515 |
of which sold or repledged | 158,567 | 135,894 | |
Bank | |||
Assets pledged and collateral | |||
Total assets pledged or assigned as collateral | 144,355 | 116,523 | 144,355 |
of which encumbered | 82,950 | 55,154 | 82,950 |
Fair value of collateral received with the right to sell or repledge | SFr 385,515 | 370,803 | 385,515 |
of which sold or repledged | SFr 135,894 | SFr 158,567 |
Litigation (Details)
Litigation (Details) € in Millions, SFr in Millions, $ in Millions | 3 Months Ended | ||
Jun. 30, 2021CHF (SFr) | Jun. 30, 2021USD ($) | Jun. 30, 2021EUR (€) | |
Pending Litigation | |||
Litigation disclosures | |||
Net litigation provisions recorded | SFr | SFr 265 | ||
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 1,200 | ||
Rates Related Matters - regulatory matters | European Commission | EU General Court | |||
Litigation disclosures | |||
Fines, judgments and settlements paid | € | € 11.9 | ||
Credit Suisse Securities (USA) LLC | Mortgage-related matters - Government and regulatory related | United States Department of Justice (DOJ) | |||
Litigation disclosures | |||
Litigation, Increase of Consumer Relief per Annum | 5.00% | 5.00% | 5.00% |
Credit Suisse Securities (USA) LLC | Bank loan litigation | Highland Capital Management LP | Texas supreme court | |||
Litigation disclosures | |||
Litigation Settlement, Amount Awarded to Other Party | $ 121 | ||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Mortgage Trust Series 2006-5 | Supreme Court for the State of New York, New York County (SCNY) | Minimum | |||
Litigation disclosures | |||
Estimated damages | 500 | ||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Mortgage Trust Series 2006-1, 2006-3 and 2006-4 | Supreme Court for the State of New York, New York County (SCNY) | Minimum | |||
Litigation disclosures | |||
Estimated damages | 730 | ||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Asset Trust Series 2007-1 | Supreme Court for the State of New York, New York County (SCNY) | Minimum | |||
Litigation disclosures | |||
Estimated damages | $ 420 |