Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2017shares | |
Entity Information [Line Items] | |
Entity registrant name | UBS Group AG |
Entity central index key | 1,610,520 |
Entity current reporting status | Yes |
Entity voluntary filers | No |
Current fiscal year end date | --12-31 |
Entity filer category | Large Accelerated Filer |
Entity well known seasoned issuer | No |
Entity common stock shares outstanding | 3,853,096,603 |
Document type | 20-F |
Document period end date | Dec. 31, 2017 |
Amendment flag | false |
Document fiscal year focus | 2,017 |
Document fiscal period focus | FY |
UBS AG | |
Entity Information [Line Items] | |
Entity registrant name | UBS AG |
Entity central index key | 1,114,446 |
Entity current reporting status | Yes |
Entity voluntary filers | No |
Current fiscal year end date | --12-31 |
Entity filer category | Non-accelerated Filer |
Entity well known seasoned issuer | No |
Entity common stock shares outstanding | 3,858,408,466 |
Document type | 20-F |
Document period end date | Dec. 31, 2017 |
Amendment flag | false |
Document fiscal year focus | 2,017 |
Document fiscal period focus | FY |
Consolidated Income Statement
Consolidated Income Statement - CHF (SFr) SFr in Millions | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
Income Statement [Line Items] | |||||||
Interest income | SFr 14,193 | SFr 13,787 | SFr 13,177 | ||||
Interest expense | (7,665) | (7,373) | (6,445) | ||||
Net interest income | [1] | 6,528 | 6,413 | 6,732 | |||
Credit loss (expense) / recovery | (128) | (37) | (117) | ||||
Net interest income after credit loss expense | 6,400 | 6,376 | 6,615 | ||||
Net fee and commission income | 17,186 | 16,397 | 17,140 | ||||
Net trading income | [1] | 4,972 | 4,948 | 5,742 | |||
Other income | 509 | 599 | 1,107 | ||||
Total operating income | 29,067 | 28,320 | [2] | 30,605 | [2] | ||
Personnel expenses | [3] | 15,889 | 15,720 | 15,981 | |||
General and administrative expenses | [4] | 6,808 | 7,434 | 8,107 | |||
Depreciation and impairment of property, equipment and software | 1,033 | 985 | 920 | ||||
Amortization and impairment of intangible assets | [5] | 70 | 91 | 107 | |||
Total operating expenses | [6] | 23,800 | 24,230 | 25,116 | |||
Operating profit / (loss) before tax | 5,268 | 4,090 | 5,489 | ||||
Tax expense / (benefit) | 4,139 | 805 | (898) | ||||
Net profit / (loss) | 1,128 | 3,286 | 6,386 | ||||
Net profit / (loss) attributable to non-controlling interests | 76 | 82 | 183 | ||||
Net profit / (loss) attributable to shareholders | SFr 1,053 | SFr 3,204 | SFr 6,203 | ||||
Earnings per share (CHF) | |||||||
Basic | SFr 0.28 | SFr 0.86 | SFr 1.68 | ||||
Diluted | SFr 0.27 | SFr 0.84 | SFr 1.64 | ||||
UBS AG | |||||||
Income Statement [Line Items] | |||||||
Interest income | SFr 14,208 | SFr 13,782 | SFr 13,178 | ||||
Interest expense | (7,728) | (7,399) | (6,449) | ||||
Net interest income | [1] | 6,480 | 6,383 | 6,729 | |||
Credit loss (expense) / recovery | (128) | (37) | (117) | ||||
Net interest income after credit loss expense | 6,352 | 6,346 | 6,612 | ||||
Net fee and commission income | 17,214 | 16,447 | 17,184 | ||||
Net trading income | [1] | 4,974 | 4,943 | 5,696 | |||
Other income | 939 | 685 | 1,112 | ||||
Total operating income | 29,479 | 28,421 | [2] | 30,605 | [2] | ||
Personnel expenses | [7] | 14,673 | [8] | 15,591 | 15,954 | ||
General and administrative expenses | [9] | 8,811 | [10] | 7,690 | 8,219 | ||
Depreciation and impairment of property, equipment and software | 928 | 980 | 918 | ||||
Amortization and impairment of intangible assets | [5] | 70 | 91 | 107 | |||
Total operating expenses | [6] | 24,481 | 24,352 | 25,198 | |||
Operating profit / (loss) before tax | 4,998 | 4,069 | 5,407 | ||||
Tax expense / (benefit) | 4,077 | 781 | (908) | ||||
Net profit / (loss) | 921 | 3,288 | 6,314 | ||||
Net profit / (loss) attributable to preferred noteholders | 72 | 78 | 77 | ||||
Net profit / (loss) attributable to non-controlling interests | 4 | 4 | 3 | ||||
Net profit / (loss) attributable to shareholders | SFr 845 | SFr 3,207 | SFr 6,235 | ||||
[1] | Net interest and trading income presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. | ||||||
[2] | The geographical allocation of Total operating income has been restated to reflect a refinement in the allocation methodology. | ||||||
[3] | Includes net restructuring expenses of CHF 534 million, CHF 751 million and CHF 460 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[4] | Includes net restructuring expenses of CHF 627 million, CHF 695 million and CHF 761 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[5] | Refer to Note 15 for more information. | ||||||
[6] | Refer to Note 30 for information on restructuring expenses. | ||||||
[7] | Includes net restructuring expenses of CHF 362 million, CHF 731 million and CHF 458 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[8] | The decrease in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. | ||||||
[9] | Includes net restructuring expenses of CHF 818 million, CHF 700 million and CHF 760 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[10] | The increase in 2017 in shared services costs charged by UBS Group AG or its subsidiaries and the associated decrease in certain direct cost lines were mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | SFr 1,128 | SFr 3,286 | SFr 6,386 | |
Total other comprehensive income | (911) | (1,116) | (605) | |
Total comprehensive income | 218 | 2,170 | 5,781 | |
Other comprehensive income that may be reclassified to the income statement | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (1,237) | (447) | (814) | |
Other comprehensive income that will not be reclassified to the income statement | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 326 | (669) | 208 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | 352 | 271 | (95) | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | 277 | (876) | 322 | |
Income tax relating to defined benefit plans | 11 | 52 | (19) | |
Subtotal defined benefit plans, net of tax | [1] | 288 | (824) | 304 |
Own credit on financial liabilities designated at fair value | ||||
Subtotal own credit on financial liabilities designated at fair value, net of tax | (313) | (115) | ||
Other comprehensive income that may be reclassified to the income statement | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Total other comprehensive income | (1,237) | (447) | (814) | |
Other comprehensive income that will not be reclassified to the income statement | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Total other comprehensive income | 326 | (669) | 208 | |
Comprehensive income attributable to shareholders | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 1,053 | 3,204 | 6,203 | |
Total other comprehensive income | (1,263) | (1,386) | (506) | |
Total comprehensive income | (210) | 1,817 | 5,698 | |
Other comprehensive income that may be reclassified to the income statement | ||||
Income tax relating to other comprehensive income that may be reclassified to the income statement | (359) | |||
Defined benefit plans | ||||
Subtotal defined benefit plans, net of tax | 288 | (824) | 298 | |
Comprehensive income attributable to shareholders | Other comprehensive income that may be reclassified to the income statement | ||||
Other comprehensive income that may be reclassified to the income statement | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (1,237) | (447) | (804) | |
Foreign currency translation | ||||
Foreign currency translation movements, before tax | (748) | 251 | (140) | |
Foreign exchange amounts reclassified to the income statement from equity | 21 | 126 | (90) | |
Income tax relating to foreign currency translation movements | 196 | (84) | (2) | |
Subtotal foreign currency translation, net of tax | (530) | 292 | (231) | |
Financial assets available for sale | ||||
Net unrealized gains / (losses) on financial assets available for sale, before tax | 99 | 240 | 175 | |
Impairment charges reclassified to the income statement from equity | 15 | 5 | 1 | |
Realized gains reclassified to the income statement from equity | (206) | (372) | (292) | |
Realized losses reclassified to the income statement from equity | 14 | 25 | 44 | |
Income tax relating to net unrealized gains / (losses) on financial assets available for sale | (7) | 28 | 8 | |
Subtotal financial assets available for sale, net of tax | (86) | (73) | (63) | |
Cash flow hedges | ||||
Effective portion of changes in fair value of derivative instruments designated as cash flow hedges, before tax | 45 | 246 | 544 | |
Net realized (gains) / losses reclassified to the income statement from equity | (826) | (1,082) | (1,182) | |
Income tax relating to cash flow hedges | 160 | 170 | 128 | |
Subtotal cash flow hedges, net of tax | (621) | (666) | (509) | |
Comprehensive income attributable to shareholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Other comprehensive income that will not be reclassified to the income statement | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (25) | (939) | 298 | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | 277 | (876) | 316 | |
Income tax relating to defined benefit plans | 11 | 52 | (18) | |
Subtotal defined benefit plans, net of tax | 288 | (824) | 298 | |
Own credit on financial liabilities designated at fair value | ||||
Gains / (losses) from own credit on financial liabilities designated at fair value, before tax | (312) | (120) | ||
Income tax relating to own credit on financial liabilities designated at fair value | (1) | 5 | ||
Subtotal own credit on financial liabilities designated at fair value, net of tax | (313) | (115) | ||
Comprehensive income attributable to non-controlling interests | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 76 | 82 | 183 | |
Total other comprehensive income | 352 | 271 | (99) | |
Total comprehensive income | 428 | 352 | 83 | |
Other comprehensive income that may be reclassified to the income statement | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (10) | |||
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | 352 | 271 | (95) | |
Defined benefit plans | ||||
Subtotal defined benefit plans, net of tax | 0 | 0 | 5 | |
Comprehensive income attributable to non-controlling interests | Other comprehensive income that may be reclassified to the income statement | ||||
Other comprehensive income that may be reclassified to the income statement | ||||
Other comprehensive income that may be reclassified to the income statement, before tax | 0 | 0 | (12) | |
Income tax relating to other comprehensive income that may be reclassified to the income statement | 0 | 0 | 2 | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | 0 | 0 | (10) | |
Comprehensive income attributable to non-controlling interests | Other comprehensive income that will not be reclassified to the income statement | ||||
Other comprehensive income that will not be reclassified to the income statement | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 352 | 271 | (90) | |
Foreign currency translation | ||||
Foreign currency translation movements, before tax | 352 | 271 | (95) | |
Income tax relating to foreign currency translation movements | 0 | 0 | 0 | |
Subtotal foreign currency translation, net of tax | 352 | 271 | (95) | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | 0 | 0 | 6 | |
Income tax relating to defined benefit plans | 0 | 0 | (1) | |
Subtotal defined benefit plans, net of tax | 0 | 0 | 5 | |
UBS AG | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 921 | 3,288 | 6,314 | |
Total other comprehensive income | (898) | (1,115) | (606) | |
Total comprehensive income | 23 | 2,173 | 5,709 | |
Other comprehensive income that may be reclassified to the income statement | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (1,242) | (447) | (848) | |
Other comprehensive income that will not be reclassified to the income statement | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 344 | (669) | 243 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | 352 | 271 | (61) | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | 299 | (876) | 322 | |
Income tax relating to defined benefit plans | 6 | 52 | (19) | |
Subtotal defined benefit plans, net of tax | [1] | 305 | (824) | 304 |
Own credit on financial liabilities designated at fair value | ||||
Subtotal own credit on financial liabilities designated at fair value, net of tax | (313) | (115) | ||
UBS AG | Other comprehensive income that may be reclassified to the income statement | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Total other comprehensive income | (1,242) | (447) | (848) | |
UBS AG | Other comprehensive income that will not be reclassified to the income statement | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Total other comprehensive income | 344 | (669) | 243 | |
UBS AG | Comprehensive income attributable to shareholders | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 845 | 3,207 | 6,235 | |
Total other comprehensive income | (1,250) | (1,386) | (545) | |
Total comprehensive income | (404) | 1,820 | 5,690 | |
Other comprehensive income that may be reclassified to the income statement | ||||
Income tax relating to other comprehensive income that may be reclassified to the income statement | (354) | |||
UBS AG | Comprehensive income attributable to shareholders | Other comprehensive income that may be reclassified to the income statement | ||||
Other comprehensive income that may be reclassified to the income statement | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (1,242) | (447) | (848) | |
Foreign currency translation | ||||
Foreign currency translation movements, before tax | (753) | 251 | (174) | |
Foreign exchange amounts reclassified to the income statement from equity | 21 | 126 | (90) | |
Income tax relating to foreign currency translation movements | 196 | (84) | (1) | |
Subtotal foreign currency translation, net of tax | (535) | 293 | (266) | |
Financial assets available for sale | ||||
Net unrealized gains / (losses) on financial assets available for sale, before tax | 99 | 240 | 180 | |
Impairment charges reclassified to the income statement from equity | 15 | 5 | 1 | |
Realized gains reclassified to the income statement from equity | (206) | (372) | (298) | |
Realized losses reclassified to the income statement from equity | 14 | 25 | 45 | |
Income tax relating to net unrealized gains / (losses) on financial assets available for sale | (7) | 28 | 8 | |
Subtotal financial assets available for sale, net of tax | (86) | (73) | (64) | |
Cash flow hedges | ||||
Effective portion of changes in fair value of derivative instruments designated as cash flow hedges, before tax | 45 | 246 | 550 | |
Net realized (gains) / losses reclassified to the income statement from equity | (826) | (1,082) | (1,199) | |
Income tax relating to cash flow hedges | 160 | 170 | 131 | |
Subtotal cash flow hedges, net of tax | (621) | (666) | (518) | |
UBS AG | Comprehensive income attributable to shareholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Other comprehensive income that will not be reclassified to the income statement | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (8) | (939) | 304 | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | 299 | (876) | 322 | |
Income tax relating to defined benefit plans | 6 | 52 | (19) | |
Subtotal defined benefit plans, net of tax | 305 | (824) | 304 | |
Own credit on financial liabilities designated at fair value | ||||
Gains / (losses) from own credit on financial liabilities designated at fair value, before tax | (312) | (120) | ||
Income tax relating to own credit on financial liabilities designated at fair value | (1) | 5 | ||
Subtotal own credit on financial liabilities designated at fair value, net of tax | (313) | (115) | ||
UBS AG | Comprehensive income attributable to preferred noteholders | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 72 | 78 | 77 | |
Total comprehensive income | 423 | 349 | 18 | |
Other comprehensive income that will not be reclassified to the income statement | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 351 | 271 | (59) | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | 351 | 271 | (59) | |
UBS AG | Comprehensive income attributable to preferred noteholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Other comprehensive income that will not be reclassified to the income statement | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 351 | 271 | (59) | |
Foreign currency translation | ||||
Foreign currency translation movements, before tax | 351 | 271 | (59) | |
Income tax relating to foreign currency translation movements | 0 | 0 | 0 | |
Subtotal foreign currency translation, net of tax | 351 | 271 | (59) | |
UBS AG | Comprehensive income attributable to non-controlling interests | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 4 | 4 | 3 | |
Total other comprehensive income | 1 | 0 | (2) | |
Total comprehensive income | 5 | 3 | 1 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | 1 | 0 | (2) | |
UBS AG | Comprehensive income attributable to non-controlling interests | Other comprehensive income that will not be reclassified to the income statement | ||||
Other comprehensive income that will not be reclassified to the income statement | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 1 | 0 | (2) | |
Foreign currency translation | ||||
Foreign currency translation movements, before tax | 1 | 0 | (2) | |
Income tax relating to foreign currency translation movements | 0 | 0 | 0 | |
Subtotal foreign currency translation, net of tax | 1 | 0 | (2) | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | 0 | 0 | 0 | |
Income tax relating to defined benefit plans | 0 | 0 | 0 | |
Subtotal defined benefit plans, net of tax | SFr 0 | SFr 0 | SFr 0 | |
[1] | Refer to the “Statement of comprehensive income”. |
Consolidated Balance Sheet
Consolidated Balance Sheet - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | ||
Assets | ||||
Cash and balances with central banks | [1] | SFr 87,775 | SFr 107,767 | |
Due from banks | [1] | 13,739 | 13,156 | |
Cash collateral on securities borrowed | [1] | 12,393 | 15,111 | |
Reverse repurchase agreements | [1] | 77,240 | 66,246 | |
Trading portfolio assets | 130,707 | 96,575 | ||
of which: assets pledged as collateral which may be sold or repledged by counterparties | 35,363 | 30,260 | ||
Positive replacement values | [1],[2],[3],[4] | 118,227 | 158,411 | |
Cash collateral receivables on derivative instruments | [1] | 23,434 | 26,664 | |
Loans | [1],[5] | 319,568 | 306,325 | |
Financial assets designated at fair value | [1] | 58,933 | 65,353 | |
Financial assets available for sale | [1],[6] | 8,665 | 15,676 | |
Financial assets held to maturity | [1] | 9,166 | 9,289 | |
Investments in associates | 1,018 | 963 | ||
Property, equipment and software | [7],[8] | 8,829 | 8,331 | |
Goodwill and intangible assets | 6,398 | 6,556 | ||
Deferred tax assets | 9,844 | 13,155 | ||
Other assets | 29,706 | 25,436 | ||
Total assets | 915,642 | 935,016 | ||
Liabilities | ||||
Due to banks | 7,533 | [9],[10] | 10,645 | |
Cash collateral on securities lent | 1,789 | [9],[10] | 2,818 | |
Repurchase agreements | 15,255 | [9],[10] | 6,612 | |
Trading portfolio liabilities | 30,463 | [9],[10],[11],[12] | 22,824 | |
Negative replacement values | [2],[4],[13] | 116,133 | [9],[10],[11] | 153,810 |
Cash collateral payables on derivative instruments | 30,247 | [9],[10] | 35,472 | |
Due to customers | 408,999 | [9],[10] | 423,672 | |
Financial liabilities designated at fair value | 54,202 | 55,017 | ||
Debt issued | [14] | 139,551 | 103,649 | |
Provisions | 3,133 | 4,174 | ||
Other liabilities | 57,064 | 62,020 | ||
Total liabilities | 864,371 | 880,714 | ||
Equity | ||||
Share capital | 385 | 385 | ||
Share premium | 25,942 | 28,254 | ||
Treasury shares | (2,133) | (2,249) | ||
Retained earnings | 32,752 | 31,725 | ||
Other comprehensive income recognized directly in equity, net of tax | (5,732) | (4,494) | ||
Equity attributable to shareholders | 51,214 | 53,621 | ||
Equity attributable to non-controlling interests | 57 | 682 | ||
Total equity | 51,271 | 54,302 | ||
Total liabilities and equity | 915,642 | 935,016 | ||
UBS AG | ||||
Assets | ||||
Cash and balances with central banks | [1] | 87,775 | 107,767 | |
Due from banks | [1] | 13,693 | 13,125 | |
Cash collateral on securities borrowed | [1] | 12,393 | 15,111 | |
Reverse repurchase agreements | [1] | 77,240 | 66,246 | |
Trading portfolio assets | 130,807 | 96,661 | ||
of which: assets pledged as collateral which may be sold or repledged by counterparties | 35,363 | 30,260 | ||
Positive replacement values | [1],[2],[3],[4] | 118,229 | 158,411 | |
Cash collateral receivables on derivative instruments | [1] | 23,434 | 26,664 | |
Loans | [1],[5] | 321,718 | 307,004 | |
Financial assets designated at fair value | [1] | 58,556 | 65,024 | |
Financial assets available for sale | [1],[6] | 8,665 | 15,676 | |
Financial assets held to maturity | [1] | 9,166 | 9,289 | |
Investments in associates | 1,018 | 963 | ||
Property, equipment and software | [7],[15] | 7,985 | 8,297 | |
Goodwill and intangible assets | 6,398 | 6,556 | ||
Deferred tax assets | 9,783 | 13,144 | ||
Other assets | 29,505 | 25,412 | ||
Total assets | 916,363 | 935,353 | ||
Liabilities | ||||
Due to banks | 7,533 | [9],[10] | 10,645 | |
Cash collateral on securities lent | 1,789 | [9],[10] | 2,818 | |
Repurchase agreements | 15,255 | [9],[10] | 6,612 | |
Trading portfolio liabilities | 30,463 | [9],[10],[11],[12] | 22,825 | |
Negative replacement values | [2],[4],[13] | 116,134 | [9],[10],[11] | 153,810 |
Cash collateral payables on derivative instruments | 30,247 | [9],[10] | 35,472 | |
Due to customers | 447,141 | [9],[10] | 450,199 | |
Financial liabilities designated at fair value | 54,202 | 55,017 | ||
Debt issued | [14] | 104,749 | 78,998 | |
Provisions | 3,084 | 4,169 | ||
Other liabilities | 54,990 | 60,443 | ||
Total liabilities | 865,588 | 881,009 | ||
Equity | ||||
Share capital | 386 | 386 | ||
Share premium | 26,966 | 29,505 | ||
Retained earnings | 29,102 | 28,265 | ||
Other comprehensive income recognized directly in equity, net of tax | (5,736) | (4,494) | ||
Equity attributable to shareholders | 50,718 | 53,662 | ||
Equity attributable to preferred noteholders | 0 | 642 | ||
Equity attributable to non-controlling interests | 57 | 40 | ||
Total equity | 50,775 | 54,343 | ||
Total liabilities and equity | SFr 916,363 | SFr 935,353 | ||
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | |||
[2] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. | |||
[3] | PRV: Positive replacement value. | |||
[4] | Refer to Note 24 for more information on netting arrangements. | |||
[5] | Includes finance lease receivables of CHF 1.1 billion as of 31 December 2017 (31 December 2016: CHF 1.0 billion). Refer to Notes 10 and 31 for more information. | |||
[6] | Refer to Note 22c for more information on product type and fair value hierarchy categorization. | |||
[7] | As of 31 December 2017, contractual commitments to purchase property in the future amounted to approximately CHF 0.3 billion (31 December 2016: approximately CHF 0.3 billion). | |||
[8] | Includes CHF 28 million related to leased assets, mainly IT hardware and communication. | |||
[9] | Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. | |||
[10] | Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. | |||
[11] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | |||
[12] | Contractual maturities of trading portfolio liabilities are: CHF 29.5 billion due within one month (2016: CHF 21.8 billion), CHF 0.8 billion due between one month and one year (2016: CHF 1.0 billion) and CHF 0.1 billion due between 1 and 5 years (2016: CHF 0.1 billion). | |||
[13] | NRV: Negative replacement value. | |||
[14] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | |||
[15] | Includes CHF 22 million related to leased assets, mainly IT hardware and communication. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - CHF (SFr) | Total | Share capital | Share premium | Treasury shares | Retained earnings | Other comprehensive income recognized directly in equity, net of tax | of which: foreign currency translation | of which: financial assets available for sale | of which: cash flow hedges | Total equity attributable to shareholders | Non-controlling interests | UBS AG | UBS AGShare capital | UBS AGShare premium | UBS AGTreasury shares | UBS AGRetained earnings | UBS AGOther comprehensive income recognized directly in equity, net of tax | UBS AGof which: foreign currency translation | UBS AGof which: financial assets available for sale | UBS AGof which: cash flow hedges | UBS AGTotal equity attributable to shareholders | UBS AGPreferred noteholders | UBS AGNon-controlling interests | ||||||
Balance at Dec. 31, 2014 | SFr 54,368,000,000 | SFr 372,000,000 | SFr 32,590,000,000 | SFr (1,393,000,000) | SFr 22,134,000,000 | SFr (3,093,000,000) | [1] | SFr (5,406,000,000) | SFr 228,000,000 | SFr 2,084,000,000 | SFr 50,608,000,000 | SFr 3,760,000,000 | SFr 54,165,000,000 | SFr 384,000,000 | SFr 32,057,000,000 | SFr (37,000,000) | SFr 22,902,000,000 | SFr (3,199,000,000) | [2] | SFr (5,591,000,000) | SFr 236,000,000 | SFr 2,156,000,000 | SFr 52,108,000,000 | SFr 2,013,000,000 | SFr 45,000,000 | ||||
Issuance of share capital | 0 | 0 | 0 | 1,000,000 | 1,000,000 | 1,000,000 | |||||||||||||||||||||||
Acquisition of treasury shares | (1,538,000,000) | (1,538,000,000) | [3] | (1,538,000,000) | (292,000,000) | (292,000,000) | (292,000,000) | ||||||||||||||||||||||
Delivery of treasury shares under share-based compensation plans | 200,000,000 | (596,000,000) | 797,000,000 | 200,000,000 | |||||||||||||||||||||||||
Other disposal of treasury shares | 479,000,000 | 1,000,000 | 478,000,000 | [3] | 479,000,000 | ||||||||||||||||||||||||
Premium on shares issued and warrants exercised | 33,000,000 | 33,000,000 | 33,000,000 | 290,000,000 | 290,000,000 | 290,000,000 | |||||||||||||||||||||||
Share-based compensation expensed in the income statement | 858,000,000 | 858,000,000 | 858,000,000 | ||||||||||||||||||||||||||
Tax (expense) / benefit | 9,000,000 | 9,000,000 | 9,000,000 | 9,000,000 | 9,000,000 | 9,000,000 | |||||||||||||||||||||||
Dividends | (2,884,000,000) | (2,760,000,000) | [4] | (2,760,000,000) | (124,000,000) | (3,004,000,000) | (2,914,000,000) | (8,000,000) | (2,922,000,000) | (77,000,000) | (5,000,000) | ||||||||||||||||||
Equity classified as obligation to purchase own shares | 1,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||
Preferred notes | 0 | 0 | |||||||||||||||||||||||||||
New consolidations / (deconsolidations) and other increases / (decreases) | 0 | 0 | 0 | 363,000,000 | 35,000,000 | 328,000,000 | 364,000,000 | (1,000,000) | |||||||||||||||||||||
Total comprehensive income for the year | 5,781,000,000 | 6,502,000,000 | (804,000,000) | [1] | (231,000,000) | (63,000,000) | (509,000,000) | 5,698,000,000 | 83,000,000 | 5,709,000,000 | 6,538,000,000 | (848,000,000) | (266,000,000) | (64,000,000) | (518,000,000) | 5,690,000,000 | 18,000,000 | 1,000,000 | |||||||||||
of which: net profit / (loss) | 6,386,000,000 | 6,203,000,000 | 6,203,000,000 | 183,000,000 | 6,314,000,000 | 6,235,000,000 | 6,235,000,000 | 77,000,000 | 3,000,000 | ||||||||||||||||||||
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax | (814,000,000) | (804,000,000) | [1] | (231,000,000) | (63,000,000) | (509,000,000) | (804,000,000) | (10,000,000) | (848,000,000) | (848,000,000) | [2] | (266,000,000) | (64,000,000) | (518,000,000) | (848,000,000) | ||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans | 304,000,000 | [5] | 298,000,000 | 298,000,000 | 5,000,000 | 304,000,000 | [5] | 304,000,000 | 304,000,000 | ||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation | (95,000,000) | 0 | (95,000,000) | (61,000,000) | 0 | (59,000,000) | (2,000,000) | ||||||||||||||||||||||
Changes to legal structure / reorganization: increase in UBS Group AG's ownership interest in UBS AG | 0 | 13,000,000 | 1,029,000,000 | (37,000,000) | 868,000,000 | (150,000,000) | [1] | (220,000,000) | 7,000,000 | 63,000,000 | 1,724,000,000 | (1,724,000,000) | |||||||||||||||||
Balance at Dec. 31, 2015 | 57,308,000,000 | 385,000,000 | 31,164,000,000 | (1,693,000,000) | 29,504,000,000 | (4,047,000,000) | (5,857,000,000) | 172,000,000 | 1,638,000,000 | 55,313,000,000 | 1,995,000,000 | 57,243,000,000 | 386,000,000 | 29,477,000,000 | 0 | 29,433,000,000 | (4,047,000,000) | (5,857,000,000) | 172,000,000 | 1,638,000,000 | 55,248,000,000 | 1,954,000,000 | 41,000,000 | ||||||
Issuance of share capital | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Acquisition of treasury shares | (1,401,000,000) | (1,401,000,000) | [3] | (1,401,000,000) | |||||||||||||||||||||||||
Delivery of treasury shares under share-based compensation plans | 115,000,000 | (682,000,000) | 796,000,000 | 115,000,000 | |||||||||||||||||||||||||
Other disposal of treasury shares | 46,000,000 | (2,000,000) | 49,000,000 | [3] | 46,000,000 | ||||||||||||||||||||||||
Premium on shares issued and warrants exercised | 5,000,000 | 5,000,000 | 5,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | |||||||||||||||||||||||
Share-based compensation expensed in the income statement | 861,000,000 | 861,000,000 | 861,000,000 | ||||||||||||||||||||||||||
Tax (expense) / benefit | 28,000,000 | 28,000,000 | 28,000,000 | 25,000,000 | 25,000,000 | 25,000,000 | |||||||||||||||||||||||
Dividends | (3,246,000,000) | (3,164,000,000) | [4] | (3,164,000,000) | (83,000,000) | (3,517,000,000) | (3,434,000,000) | (3,434,000,000) | (78,000,000) | (5,000,000) | |||||||||||||||||||
Equity classified as obligation to purchase own shares | 0 | 0 | |||||||||||||||||||||||||||
Preferred notes | (1,583,000,000) | 0 | (1,583,000,000) | (1,583,000,000) | 0 | (1,583,000,000) | |||||||||||||||||||||||
New consolidations / (deconsolidations) and other increases / (decreases) | 0 | 43,000,000 | (44,000,000) | (1,000,000) | 0 | (2,000,000) | (2,000,000) | (1,000,000) | (3,000,000) | 0 | |||||||||||||||||||
Total comprehensive income for the year | 2,170,000,000 | 2,265,000,000 | (447,000,000) | [1] | 292,000,000 | (73,000,000) | (666,000,000) | 1,817,000,000 | 352,000,000 | 2,173,000,000 | 2,267,000,000 | (447,000,000) | 293,000,000 | (73,000,000) | (666,000,000) | 1,820,000,000 | 349,000,000 | 3,000,000 | |||||||||||
of which: net profit / (loss) | 3,286,000,000 | 3,204,000,000 | 3,204,000,000 | 82,000,000 | 3,288,000,000 | 3,207,000,000 | 3,207,000,000 | 78,000,000 | 4,000,000 | ||||||||||||||||||||
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax | (447,000,000) | (447,000,000) | [1] | 292,000,000 | (73,000,000) | (666,000,000) | (447,000,000) | (447,000,000) | (447,000,000) | 293,000,000 | (73,000,000) | (666,000,000) | (447,000,000) | ||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans | (824,000,000) | [5] | (824,000,000) | (824,000,000) | 0 | (824,000,000) | [5] | (824,000,000) | (824,000,000) | ||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - own credit | (115,000,000) | (115,000,000) | (115,000,000) | (115,000,000) | (115,000,000) | (115,000,000) | |||||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation | 271,000,000 | 0 | 271,000,000 | 271,000,000 | 0 | 271,000,000 | 0 | ||||||||||||||||||||||
Balance at Dec. 31, 2016 | 54,302,000,000 | 385,000,000 | 28,254,000,000 | (2,249,000,000) | 31,725,000,000 | (4,494,000,000) | (5,564,000,000) | 98,000,000 | 972,000,000 | 53,621,000,000 | 682,000,000 | 54,343,000,000 | 386,000,000 | 29,505,000,000 | 0 | 28,265,000,000 | (4,494,000,000) | (5,564,000,000) | 98,000,000 | 972,000,000 | 53,662,000,000 | 642,000,000 | 40,000,000 | ||||||
Issuance of share capital | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Acquisition of treasury shares | (908,000,000) | (908,000,000) | (908,000,000) | ||||||||||||||||||||||||||
Delivery of treasury shares under share-based compensation plans | 114,000,000 | (845,000,000) | 960,000,000 | 114,000,000 | |||||||||||||||||||||||||
Other disposal of treasury shares | 65,000,000 | 1,000,000 | 64,000,000 | [3] | 65,000,000 | ||||||||||||||||||||||||
Premium on shares issued and warrants exercised | 19,000,000 | 19,000,000 | 19,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | |||||||||||||||||||||||
Share-based compensation expensed in the income statement | 721,000,000 | 721,000,000 | 721,000,000 | ||||||||||||||||||||||||||
Tax (expense) / benefit | 21,000,000 | 21,000,000 | 21,000,000 | 16,000,000 | 16,000,000 | 16,000,000 | |||||||||||||||||||||||
Dividends | (2,306,000,000) | (2,229,000,000) | (2,229,000,000) | (77,000,000) | (2,327,000,000) | (2,250,000,000) | (2,250,000,000) | (72,000,000) | (4,000,000) | ||||||||||||||||||||
Equity classified as obligation to purchase own shares | 0 | 0 | |||||||||||||||||||||||||||
Preferred notes | (993,000,000) | 0 | (993,000,000) | (993,000,000) | 0 | (993,000,000) | |||||||||||||||||||||||
New consolidations / (deconsolidations) and other increases / (decreases) | 18,000,000 | 0 | 0 | 17,000,000 | (294,000,000) | (311,000,000) | (311,000,000) | 17,000,000 | |||||||||||||||||||||
Total comprehensive income for the year | 218,000,000 | 1,027,000,000 | (1,237,000,000) | [1] | (530,000,000) | (86,000,000) | (621,000,000) | (210,000,000) | 428,000,000 | 23,000,000 | 837,000,000 | (1,242,000,000) | (535,000,000) | (86,000,000) | (621,000,000) | (404,000,000) | 423,000,000 | 5,000,000 | |||||||||||
of which: net profit / (loss) | 1,128,000,000 | 1,053,000,000 | 1,053,000,000 | 76,000,000 | 921,000,000 | 845,000,000 | 845,000,000 | 72,000,000 | 4,000,000 | ||||||||||||||||||||
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax | (1,237,000,000) | (1,237,000,000) | [1] | (530,000,000) | (86,000,000) | (621,000,000) | (1,237,000,000) | (1,242,000,000) | (1,242,000,000) | [2] | (535,000,000) | (86,000,000) | (621,000,000) | (1,242,000,000) | |||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans | 288,000,000 | [5] | 288,000,000 | 288,000,000 | 0 | 305,000,000 | [5] | 305,000,000 | 305,000,000 | ||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - own credit | (313,000,000) | (313,000,000) | (313,000,000) | (313,000,000) | (313,000,000) | (313,000,000) | |||||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation | 352,000,000 | 0 | 352,000,000 | 352,000,000 | 0 | 351,000,000 | 1,000,000 | ||||||||||||||||||||||
Balance at Dec. 31, 2017 | SFr 51,271,000,000 | SFr 385,000,000 | SFr 25,942,000,000 | SFr (2,133,000,000) | SFr 32,752,000,000 | SFr (5,732,000,000) | [1] | SFr (6,095,000,000) | SFr 12,000,000 | SFr 351,000,000 | SFr 51,214,000,000 | SFr 57,000,000 | SFr 50,775,000,000 | SFr 386,000,000 | SFr 26,966,000,000 | SFr 0 | SFr 29,102,000,000 | SFr (5,736,000,000) | [2] | SFr (6,099,000,000) | SFr 12,000,000 | SFr 351,000,000 | SFr 50,718,000,000 | SFr 0 | SFr 57,000,000 | ||||
[1] | Excludes defined benefit plans and own credit that are recorded directly in retained earnings. | ||||||||||||||||||||||||||||
[2] | Excludes defined benefit plans and own credit that are recorded directly in retained earnings. | ||||||||||||||||||||||||||||
[3] | Includes treasury shares acquired and disposed of by the Investment Bank in its capacity as a market-maker in UBS shares and related derivatives and to hedge certain issued structured debt instruments. These acquisitions and disposals are reported on the basis of net month-to-date movements | ||||||||||||||||||||||||||||
[4] | Reflects the payment of an ordinary cash dividend of CHF 0.60 (2016: CHF 0.60 ordinary cash dividend and CHF 0.25 special cash dividend; 2015: CHF 0.50 ordinary cash dividend and CHF 0.25 special cash dividend) per dividend-bearing share out of the capital contribution reserve. | ||||||||||||||||||||||||||||
[5] | Refer to the “Statement of comprehensive income”. |
Consolidated Statement of Chan6
Consolidated Statement of Changes in Equity (Parenthetical) - SFr / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Ordinary cash dividends paid, ordinary shares per share | SFr 0.6 | SFr 0.6 | SFr 0.5 |
Special dividends paid, ordinary shares per share | SFr 0.25 | SFr 0.25 |
Shares issued and treasury shar
Shares issued and treasury shares held - shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Shares issued | ||
Balance at the beginning of the year | 3,850,766,389 | 3,849,731,535 |
Issuance of shares | 2,330,214 | 1,034,854 |
Balance at the end of the year | 3,853,096,603 | 3,850,766,389 |
Treasury shares | ||
Balance at the beginning of the year | 138,441,772 | 98,706,275 |
Acquisitions | 54,828,640 | 90,448,847 |
Disposals | (60,968,862) | (50,713,350) |
Balance at the end of the year | 132,301,550 | 138,441,772 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - CHF (SFr) SFr in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Cash flow from / (used in) operating activities | ||||||
Net profit / (loss) | SFr 1,128 | SFr 3,286 | SFr 6,386 | |||
Non-cash items included in net profit and other adjustments: | ||||||
Depreciation and impairment of property, equipment and software | 1,033 | 985 | 920 | |||
Amortization and impairment of intangible assets | 70 | 91 | 107 | |||
Credit loss expense / (recovery) | 128 | 37 | 117 | |||
Share of net profits of associates / joint ventures and impairment of associates | (68) | (106) | (169) | |||
Deferred tax expense / (benefit) | 3,264 | (7) | (1,613) | |||
Net loss / (gain) from investing activities | (203) | (1,176) | (934) | |||
Net loss / (gain) from financing activities | 2,132 | 9,647 | (1,451) | |||
Other net adjustments | (513) | (267) | 3,686 | |||
Net change in operating assets and liabilities: | ||||||
Due from / to banks | (3,184) | (1,180) | 1,763 | |||
Cash collateral on securities borrowed and reverse repurchase agreements | (7,654) | 7,933 | (2,712) | |||
Cash collateral on securities lent and repurchase agreements | 7,432 | (6,637) | (2,909) | |||
Trading portfolio and replacement values | (21,847) | 6,054 | 6,830 | |||
Financial assets designated at fair value | 7,268 | (60,650) | (1,325) | |||
Cash collateral on derivative instruments | (2,479) | (4,169) | 3,285 | |||
Loans | (14,224) | 3,658 | 1,386 | |||
Due to customers | (12,700) | 33,572 | (18,404) | |||
Other assets, provisions and other liabilities | (9,477) | (6,874) | 8,696 | |||
Income taxes paid, net of refunds | (1,015) | (656) | (551) | |||
Net cash flow from / (used in) operating activities | (50,911) | (16,457) | 3,109 | |||
Cash flow from / (used in) investing activities | ||||||
Purchase of subsidiaries, associates and intangible assets | (102) | (26) | (13) | |||
Disposal of subsidiaries, associates and intangible assets | [1] | 336 | 93 | 477 | ||
Purchase of property, equipment and software | (1,593) | (1,777) | (1,841) | |||
Disposal of property, equipment and software | 68 | 209 | 542 | |||
Purchase of financial assets available for sale | (8,448) | (7,271) | (101,189) | |||
Disposal and redemption of financial assets available for sale | 14,917 | 54,097 | 93,584 | |||
Net (purchase) / redemption of financial assets held to maturity | (77) | (8,996) | ||||
Net cash flow from / (used in) investing activities | 5,100 | 36,328 | (8,441) | |||
Cash flow from / (used in) financing activities | ||||||
Net short-term debt issued / (repaid) | 24,141 | 5,440 | (6,404) | |||
Net movements in treasury shares and own equity derivative activity | (730) | (1,248) | (845) | |||
Distributions paid on UBS shares | (2,229) | (3,164) | (2,760) | |||
Issuance of long-term debt, including financial liabilities designated at fair value | 49,506 | 33,256 | 47,790 | |||
Repayment of long-term debt, including financial liabilities designated at fair value | (43,299) | (33,885) | (44,221) | |||
Net changes in non-controlling interests and preferred notes | (781) | (1,371) | (156) | |||
Net cash flow from / (used in) financing activities | 26,608 | (972) | (6,595) | |||
Total cash flow | ||||||
Cash and cash equivalents at the beginning of the year | 121,138 | [2] | 103,044 | [2] | 116,715 | |
Net cash flow from / (used in) operating, investing and financing activities | (19,203) | 18,900 | (11,928) | |||
Effects of exchange rate differences on cash and cash equivalents | 265 | (806) | (1,742) | |||
Cash and cash equivalents at the end of the year | [2] | 102,200 | 121,138 | 103,044 | ||
Net cash flow from / (used in) operating activities includes: | ||||||
Interest received in cash | 12,445 | 12,228 | 11,144 | |||
Interest paid in cash | 6,568 | 6,129 | 5,270 | |||
Dividends on equity investments, investment funds and associates received in cash | [3] | 1,790 | 1,595 | 2,120 | ||
UBS AG | ||||||
Cash flow from / (used in) operating activities | ||||||
Net profit / (loss) | 921 | 3,288 | 6,314 | |||
Non-cash items included in net profit and other adjustments: | ||||||
Depreciation and impairment of property, equipment and software | 928 | 980 | 918 | |||
Amortization and impairment of intangible assets | 70 | 91 | 107 | |||
Credit loss expense / (recovery) | 128 | 37 | 117 | |||
Share of net profits of associates / joint ventures and impairment of associates | (68) | (106) | (169) | |||
Deferred tax expense / (benefit) | 3,248 | 2 | (1,614) | |||
Net loss / (gain) from investing activities | (203) | (1,176) | (934) | |||
Net loss / (gain) from financing activities | 2,132 | 9,647 | (1,654) | |||
Other net adjustments | (519) | (300) | 3,628 | |||
Net change in operating assets and liabilities: | ||||||
Due from / to banks | (3,184) | (1,183) | 1,768 | |||
Cash collateral on securities borrowed and reverse repurchase agreements | (7,654) | 7,933 | (2,712) | |||
Cash collateral on securities lent and repurchase agreements | 7,432 | (6,637) | (2,909) | |||
Trading portfolio and replacement values | (21,931) | 6,024 | 6,853 | |||
Financial assets designated at fair value | 7,316 | (60,658) | (1,446) | |||
Cash collateral on derivative instruments | (2,479) | (4,169) | 3,285 | |||
Loans | (15,411) | 3,740 | 841 | |||
Due to customers | (11,187) | 33,925 | (17,362) | |||
Other assets, provisions and other liabilities | (10,417) | (8,204) | 7,516 | |||
Income taxes paid, net of refunds | (992) | (649) | (551) | |||
Net cash flow from / (used in) operating activities | (51,872) | (17,413) | 1,997 | |||
Cash flow from / (used in) investing activities | ||||||
Purchase of subsidiaries, associates and intangible assets | (102) | (26) | (13) | |||
Disposal of subsidiaries, associates and intangible assets | [4] | 336 | 93 | 477 | ||
Purchase of property, equipment and software | (1,500) | (1,746) | (1,841) | |||
Disposal of property, equipment and software | 213 | 209 | 547 | |||
Purchase of financial assets available for sale | (8,448) | (7,271) | (101,189) | |||
Disposal and redemption of financial assets available for sale | 14,917 | 54,097 | 93,584 | |||
Net (purchase) / redemption of financial assets held to maturity | (77) | (8,996) | ||||
Net cash flow from / (used in) investing activities | 5,338 | 36,359 | (8,434) | |||
Cash flow from / (used in) financing activities | ||||||
Net short-term debt issued / (repaid) | 24,141 | 5,440 | (6,404) | |||
Distributions paid on UBS shares | (2,250) | (3,434) | (2,626) | |||
Issuance of long-term debt, including financial liabilities designated at fair value | 49,506 | 33,453 | 47,790 | |||
Repayment of long-term debt, including financial liabilities designated at fair value | (43,299) | (34,081) | (44,221) | |||
Dividends paid and repayments of preferred notes | (776) | (1,366) | (108) | |||
Net changes in non-controlling interests | (5) | (5) | (5) | |||
Net cash flow from / (used in) financing activities | 27,317 | 6 | (5,573) | |||
Total cash flow | ||||||
Cash and cash equivalents at the beginning of the year | 121,107 | [2],[5] | 102,962 | [2] | 116,715 | |
Net cash flow from / (used in) operating, investing and financing activities | (19,216) | 18,952 | (12,011) | |||
Effects of exchange rate differences on cash and cash equivalents | 264 | (807) | (1,742) | |||
Cash and cash equivalents at the end of the year | [2] | 102,154 | [6] | 121,107 | [5] | 102,962 |
Net cash flow from / (used in) operating activities includes: | ||||||
Interest received in cash | 12,457 | 12,223 | 11,144 | |||
Interest paid in cash | 6,627 | 6,141 | 5,267 | |||
Dividends on equity investments, investment funds and associates received in cash | [3] | SFr 1,790 | SFr 1,595 | SFr 2,120 | ||
[1] | Includes dividends received from associates | |||||
[2] | CHF 2,434 million, CHF 2,662 million and CHF 3,963 million of cash and cash equivalents (mainly reflected in Due from banks) were restricted as of 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 23 for more information. | |||||
[3] | Includes dividends received from associates (2017: CHF 51 million, 2016: CHF 50 million, 2015: CHF 114 million) reported within Cash flow from / (used in) investing activities. | |||||
[4] | Includes dividends received from associates. | |||||
[5] | CHF 2,662 million of cash and cash equivalents were restricted. | |||||
[6] | CHF 2,434 million of cash and cash equivalents were restricted. |
Consolidated Statement ot Cash
Consolidated Statement ot Cash Flows (Parenthetical) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
Statement Of Cash Flows [Line Items] | |||||||
Current restricted cash and cash equivalents | SFr 2,434 | SFr 2,662 | SFr 3,963 | ||||
Money market paper in trading portfolio assets | 131 | 75 | 795 | ||||
Money market paper in financial assets available for sale | 23 | 430 | 129 | ||||
Money market paper in Financial assets designated at fair value | 1,894 | 959 | 0 | ||||
Dividends received from associates classified as investing activities | 51 | 50 | 114 | ||||
Cash and balances with central banks classified as cash equivalents | 87,700 | 107,715 | 91,306 | ||||
Due from banks classified as cash equivalents | 12,452 | 11,959 | 10,814 | ||||
Money market paper classified as cash equivalents | [1] | 2,049 | 1,465 | 924 | |||
UBS AG | |||||||
Statement Of Cash Flows [Line Items] | |||||||
Current restricted cash and cash equivalents | 2,434 | 2,662 | 3,963 | ||||
Money market paper in trading portfolio assets | 131 | 75 | 795 | ||||
Money market paper in financial assets available for sale | 23 | 430 | 129 | ||||
Money market paper in Financial assets designated at fair value | 1,894 | 959 | 0 | ||||
Dividends received from associates classified as investing activities | 51 | 50 | 114 | ||||
Cash and balances with central banks classified as cash equivalents | 87,700 | 107,715 | 91,306 | ||||
Due from banks classified as cash equivalents | 12,406 | 11,927 | 10,732 | ||||
Money market paper classified as cash equivalents | [1] | SFr 2,049 | [2] | SFr 1,465 | [2] | SFr 924 | [3] |
[1] | Money market paper is included in the balance sheet under Trading portfolio assets (31 December 2017: CHF 131 million, 31 December 2016: CHF 75 million, 31 December 2015: CHF 795 million), Financial assets available for sale (31 December 2017: CHF 23 million, 31 December 2016: CHF 430 million, 31 December 2015: CHF 129 million) and Financial assets designated at fair value (31 December 2017: CHF 1,894 million, 31 December 2016: CHF 959 million, 31 December 2015: CHF 0 million). | ||||||
[2] | Money market paper is included in the balance sheet under Trading portfolio assets, Financial investments available for sale and Financial assets designated at fair value. | ||||||
[3] | Money market paper is included in the balance sheet under Trading portfolio assets and Financial investments available for sale. |
Changes in liabilities arising
Changes in liabilities arising from financing activities SFr in Millions | 12 Months Ended | |
Dec. 31, 2017CHF (SFr) | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of 1 January | SFr 158,666 | |
Cash flows | 30,348 | |
Non-cash changes | 4,739 | |
of which: foreign currency translation | 1,016 | |
of which: fair value changes | 4,147 | |
of which: other | (424) | |
Balance as of 31 December | 193,753 | |
Debt issued | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of 1 January | 103,649 | |
Cash flows | 35,903 | |
Non-cash changes | (1) | |
of which: foreign currency translation | 422 | |
of which: other | (424) | [1] |
Balance as of 31 December | 139,551 | |
of which: short term | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of 1 January | 26,178 | |
Cash flows | 24,141 | |
Non-cash changes | 634 | |
of which: foreign currency translation | 634 | |
of which: other | 0 | |
Balance as of 31 December | 50,953 | |
of which: long term | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of 1 January | 77,472 | |
Cash flows | 11,762 | |
Non-cash changes | (635) | |
of which: foreign currency translation | (211) | |
of which: other | (424) | [1] |
Balance as of 31 December | 88,599 | |
Financial liabilities designated at fair value | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of 1 January | 55,017 | |
Cash flows | (5,556) | |
Non-cash changes | 4,740 | |
of which: foreign currency translation | 593 | |
of which: fair value changes | 4,147 | |
of which: other | 0 | |
Balance as of 31 December | 54,202 | |
UBS AG | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of 1 January | 158,647 | |
Cash flows | 30,348 | |
Non-cash changes | 4,704 | |
of which: foreign currency translation | 1,016 | |
of which: fair value changes | 4,147 | |
of which: other | (459) | |
Balance as of 31 December | 193,700 | |
UBS AG | Debt issued | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of 1 January | 78,998 | |
Cash flows | 25,534 | |
Non-cash changes | 217 | |
of which: foreign currency translation | 561 | |
of which: other | (344) | [1] |
Balance as of 31 December | 104,749 | |
UBS AG | of which: short term | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of 1 January | 26,178 | |
Cash flows | 24,141 | |
Non-cash changes | 634 | |
of which: foreign currency translation | 634 | |
of which: other | 0 | |
Balance as of 31 December | 50,953 | |
UBS AG | of which: long term | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of 1 January | 52,820 | |
Cash flows | 1,393 | |
Non-cash changes | (417) | |
of which: foreign currency translation | (73) | |
of which: other | (344) | [1] |
Balance as of 31 December | 53,796 | |
UBS AG | Financial liabilities designated at fair value | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of 1 January | 55,017 | |
Cash flows | (5,556) | |
Non-cash changes | 4,740 | |
of which: foreign currency translation | 593 | |
of which: fair value changes | 4,147 | |
of which: other | 0 | |
Balance as of 31 December | 54,202 | |
UBS AG | Funding from UBS Group AG and its subsidiaries | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of 1 January | 24,632 | [2] |
Cash flows | 10,371 | [2] |
Non-cash changes | (254) | [2] |
of which: foreign currency translation | (138) | [2] |
of which: other | (115) | [1],[2] |
Balance as of 31 December | SFr 34,749 | [2] |
[1] | Includes the effect of fair value hedges on long-term debt issued. Refer to UBS Group AG consolidated financial statements Note 1a item k and Note 19 for more information. | |
[2] | Represents Group-internal funding obtained from UBS Group AG and UBS Group Funding (Switzerland) AG that is reported in the balance sheet line Due to customers. |
Shares issued and treasury sh11
Shares issued and treasury shares held; Conditional share capital | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Classes Of Share Capital [Line Items] | |
Disclosure of shares issued, treasury shares held and conditional share capital [textblock] | UBS Group AG shares issued and treasury shares held For the year ended Number of shares 31.12.17 31.12.16 Shares issued Balance at the beginning of the year 3,850,766,389 3,849,731,535 Issuance of shares 2,330,214 1,034,854 Balance at the end of the year 3,853,096,603 3,850,766,389 Treasury shares Balance at the beginning of the year 138,441,772 98,706,275 Acquisitions 54,828,640 90,448,847 Disposals (60,968,862) (50,713,350) Balance at the end of the year 132,301,550 138,441,772 Conditional share capital As of 31 December 2017, 127,664,622 additional UBS Group AG shares could have been issued to fund UBS ’ s employee share option programs. Additional conditional capital up to a maximum number of 380,000,000 UBS Group AG shares was available as of 31 December 2017 for conversi on rights and warrants granted in connection with the issuance of bonds or similar financial instruments. |
UBS AG | |
Disclosure Of Classes Of Share Capital [Line Items] | |
Disclosure of shares issued, treasury shares held and conditional share capital [textblock] | UBS AG shares issued and treasury shares held As of 31 December 2017, shares issued by UBS AG totaled 3,858,408,466 (31 December 2016: 3,858,408,466 shares). No treasury shares were held as of 31 December 2017 and as of 31 December 2016 . Conditional share capital As of 31 December 2017, UBS AG ’ s share capital could have been increased through the issuance of 136,200,312 shares upon exercise of employee options. Additional conditional capital up to a maximum number of 380,000,000 shares was available as of 31 December 2017 for conversion rights and warrants granted in connection with the issuance of bonds or similar financial instruments. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Significant Accounting Policies [Line Items] | |
Significant accounting policies | Note 1 Summary of significant accounting policies a) Significant accounting policies This Note describes the significant accounting policies applied in the preparation of the consolidated financial statements (the “Financial Statements”) of UBS Group AG and its subsidiar ies (“UBS” or the “Group”). On 8 March 2018, the Financial Statements were auth orized for issue by the Board of Directors. Basis of accounting The Financial Statements have been prepared in accordance with International Financial Reporting Standards ( IFRS ) , as issued by the International Accounting Standards Board (IASB), and are pre sented in Swiss francs (CHF), which is also the functional currency of UBS Group AG and of UBS AG’s Head Office and its Swiss-based operations . Disclosures provided in the “Risk, treasury and capital management” section of this report that are marked as a udited form an integral part of the Financial Statements. These disclosures relate to requirements under IFRS 7, Financial Instruments: Disclosures and IAS 1, Presentation of Financial Statements and are not repeated in this section. The accounting policies described in this Note have been applied consistently in all years presented unless otherwise stated in Note 1b. Critical accounting estimates and judgments Preparation of these Financial Statements under IFRS requires management to apply judgmen t and make estimates and assumptions that affect reported amounts of assets, liabilities, income and expenses and disclosure of contingent assets and liabilities, and may involve significant uncertainty at the time they are made. Such estimates and assumpt ions are based on the best available information. UBS regularly reassesses the estimates and assumptions, which encompass historical experience, expectations of the future and other pertinent factors, to determine their continuing relevance based on curren t conditions and it updates them as necessary. Changes in those estimates and assumptions may have a significant impact on the Financial Statements. Further, actual results may differ significantly from UBS’s estimates, which could result in significant lo ss to the Group, beyond what it anticipated or provided for. The following areas contain estimation uncertainty or require critical judgment and have a significant effect on the amounts recognized in the Financial Statements: fair value of financial inst ruments (refer to item 3f in this Note and to Note 22) allowances and provisions for credit losses (refer to item 3g in this Note and to Note 11) pension and other post-employment benefit plans (refer to item 7 in this Note and to Note 26) income taxes ( refer to item 8 in this Note and to Note 8 ) goodwill (refer to item 11 in this Note and to Note 15) provisions and contingent liabilities (refer to item 12 in this Note and to Note 20) consolidation of structured entities (refer to item 1 in this Note and to Note 28) . 1) Consolidation a. Consolidation principles The Financial Statements comprise the financial statements of the parent company (UBS Group AG) and its subsidiaries, presented as a single economic entity, whereby intercompany transactions and ba lances have been eliminated. UBS consolidates all entities that it controls, including controlled structured entities (SEs), which is the case when it has (i) power over the relevant activities of the entity, (ii) exposure to an entity ‘s variable returns a nd (iii) the ability to use its power to affect its own returns. Where an entity is governed by voting rights, control is generally indicated by a direct shareholding of more than one-half of the voting rights. In other cases, the assessment of control is more complex and requires greater use of judgment. Where UBS has an interest in an entity that absorbs variability, UBS considers wheth er it has power over the relevant activities of the entity that allows it to affect the variability of its returns. Consideration is given to all facts and circumstances to determine whether the Group has power over another entity ; that is, the current abi lity to direct the relevant activities of an entity when decisions about those activities need to be made. Factors such as the purpose and design of the entity, rights held through contractual arrangements , such as call rights, put rights or liquidation ri ghts, as well as potential decision-making rights are all considered in this assessment. Where the Group has power over the relevant activities, a further assessment is made to determine whether, through that power, it has the ability to affect its own ret urns by assessing whether power is held in a principal or agent capacity. Consideration is given to (i) the scope of decision-making authority, (ii) rights held by other parties, including removal or other participating rights, and (iii) exposure to variab ility, including remuneration, relative to total variability of the entity as well as whether that exposure is different from that of other investors. If, after review of these factors, UBS concludes that it can exercise its power to affect its own returns , the entity is consolidated. Subsidiaries, including SEs, are consolidated from the date when control is obtained and are deconsolidated from the date when control ceases. Control, or the lack thereof, is reassessed if facts and circumstances indicate that there is a change to one or more of the elements required to establish that control is present. Refer to Note 28 for more information b. Structured entities UBS sponsors the formation of SEs and interacts with non-sponsored SEs for a variety of reasons, including allowing clients to obtain or be exposed to particular risk profiles, to provide funding or to sell or purchase credit risk. An SE is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Such entiti es generally have a narrow and well-defined objective and include those historically referred to as special purpose entities , as well as some investment funds. UBS assesses whether an entity is an SE by considering the nature of the activities of the entit y as well as the substance of voting or similar rights afforded to other parties, including investors and independent boards or directors. UBS considers rights such as the ability to liquidate the entity or remove the decision maker to be similar to voting rights when the holder has the substantive ability to exercise such rights without cause. In the absence of such rights or in cases where the existence of such rights cannot be fully established, the entity is considered to be an SE. The classes of SEs with which UBS is involved include: Securitization structured entities are established to issue securities to investors that are backed by assets held by the SE and whereby (i) significant credit risk associated with the securitized exposures has been tran sferred to third parties and (ii) there is more than one risk position or tranche issued by the securitization vehicle in line with the Basel III securitization definition. All securitization entities are classified as SEs. Client investment structured en tities are established predominantly for clients to invest in specific assets or risk exposures through purchasing notes issued by the SE, predominantly on a fixed-term basis. The SE may source assets via a transfer from UBS or through an external market t ransaction. In some cases, UBS may enter into derivatives with the SE to either align the cash flows of the entity with the investor’s intended investment objective or to introduce other desired risk exposures. In certain cases, UBS may have interests in a third-party-sponsored SE to hedge specific risks or participate in asset-backed financing. Investment fund structured entities have a collective investment objective, are managed by an investment manager and are either passively managed, so that any decis ion making does not have a substantive effect on variability, or are actively managed and investors or their governing bodies do not have substantive voting or similar rights. UBS creates and sponsors a large number of funds in which it may have an interes t through the receipt of variable management fees and / or a direct investment. In addition, UBS has interests in a number of funds created and sponsored by third parties, including exchange-traded funds and hedge funds, to hedge issued structured products . When UBS does not consolidate an SE, but has an interest in an SE or has sponsored an SE, disclosures are provided on the nature of these interests and sponsorship activities. Critical accounting estimates and judgments Each individual entity is asses sed for consolidation in line with the aforementioned consolidation principles. The assessment of control can be complex and requires the use of significant judgment. As the nature and extent of UBS’s involvement are unique to each entity, there is no unif orm consolidation outcome by entity. Certain entities within a class may be consolidated while others may not. Refer to Note 28 for more information 2) Segment reporting As of 31 December 2017, UBS‘s businesses were organized globally into five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank, all of which were supported by Corporate Center. The five business divisions qualify as reportable segments for the purpose of segment reporting and, together with Corporate Center, reflect the management structure of the Group . Corporate Center – No n-core and Legacy Portfolio is managed and reported as a separate reportable segment within Corporate Center. Financial information about the five business divisions and Corporate Center (with its units : Services, Group Asset and Liability Management (Grou p ALM), Non-core and Legacy Portfolio) is presented separately in internal management reports to the Group Executive Board, which is considered the “chief operating decision maker” pursuant to IFRS 8, Operating Segments. UBS’s internal accounting policies, which include management accounting policies and service level agreements, determine the revenues and expenses directly attributable to each reportable segment. Transactions between the reportable segments are carried out at internally agreed rat es and are reflected in the operating results of the reportable segments. Revenue-sharing agreements are used to allocate external client revenues to reportable segments where several reportable segments are involved in the value creation chain. Commission s are credited to the reportable segments based on the corresponding client relationship. Total intersegment revenues for the Group are immaterial, as the majority of the revenues are allocated across the segments by means of revenue-sharing agreements. Ne t interest income is generally allocated to the reportable segments based on their balance sheet positions. Interest income earned from managing UBS’s consolidated equity is allocated to the reportable segments based on average attributed equity. Assets an d liabilities of the reportable segments are funded through and invested with Corporate Center – Group ALM, and the net interest margin is reflected in the results of each reportable segment. Segment assets are based on a third-party view and do not includ e intercompany balances. This view is in line with internal reporting to the Group Executive Board. Certain assets managed centrally by Corporate Center – Services and Corporate Center – Group ALM may be allocated to other segments on a basis different to that on which the corresponding costs or revenues are allocated. For example, certain assets that are reported in Corporate Center – Services or Corporate Center – Group ALM may be retained on the balance sheet of these components of Corporate Center notwi thstanding that the costs or revenues associated with these assets may be entirely or partly allocated to the segments. Similarly, certain assets are reported in the business divisions, whereas the corresponding costs or revenues are entirely or partly all ocated to Corporate Center – Services and Corporate Center – Group ALM. Non-current assets disclosed for segment reporting purposes represent assets that are expected to be recovered more than twelve months after the reporting date, excluding financial ins truments, deferred tax assets, post-employment benefits and rights arising under insurance contracts. Refer to Note s 1c and 2 for more information 3) Financial instruments a. Recognition UBS recognizes financial instruments when it becomes a party to the c ontractual provisions of the instrument. UBS applies settlement date accounting to all regular way purchases and sales of financial instruments . In transactions in which UBS acts a s a transferee, to the extent that the transfer of a financial asset does n ot qualify for derecognition by the t ransferor, UBS does not recogniz e the transferred asset as its asset. UBS also acts in a fiduciary capacity, which results in the holding or placing of assets on behalf of individuals, trusts, retirement benefit plans a nd other institutions. Unless the recognition criteria are satisfied, these assets are not recognized on UBS’s balance sheet. Consequently, the related income is excluded from these Financial Statements. Client cash balances associated with derivatives cl earing and execution services are not recognized on the balance sheet if, through contractual agreement, regulation or practice, the Group neither obtains benefits from nor controls the client cash balances. b. Classification, measurement and presentation U pon initial recognition, UBS records financial instruments at fair value plus , for financial instruments not measured at fair value through profit or loss, directly attributable transaction costs. After initial recognition, UBS classifies, measures and presents its financial assets and liabilities in accordance with IAS 39, Financial Instruments: Recognition and Measurement as described in the following table. Refer to Note 25a for an overview of financial assets and liabilities by IAS 39 c ategory Refer to the balance sheet for references to Notes that provide information on the composition of individual financial asset and liability categories Designated at fair value through profit or loss A financial asset may be designated at fair value through profit or loss only upon initial recognition and this designation is irrevocable. The fair value option can be applied only if one of the following criteria is met: the financial instrument is a hybrid instrument that includes a substantive embedded derivative; the financial instrument is part of a portfolio that is risk managed on a fair value basis and reported to senior management on that basis ; or the application of the fair value option elimi nates or significantly reduces an accounting mismatch that would otherwise arise. UBS designated at fair value through profit or loss the following financial assets : Certain structured loans, reverse repurchase and securities borrowing agreements that are managed on a fair value basis. Loans that are hedged predominantly with credit derivatives. These instruments are designated at fair value to eliminate an accounting mismatch. Certain debt securities held as high-quality liquid assets (HQLA) and managed by Corporate Cent er – Group ALM on a fair value basis. Assets held to hedge delivery obligations related to cash-settled employee compensation plans. These assets are designated at fair value in order to eliminate an accounting mismatch that would otherwise arise due to the liability being measured on a fair value basis. Measure d at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Net trading income, except interest and dividend income on instruments other than derivatives ( refer to item 3c in this Note ), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short duration foreign exchange contracts, which are reported in Net interest income. Derivative assets are generally presented as Positive replacement values. Bifurcated embedded derivatives are measured at fair value, but presented on the same balance sheet line as the host contract measured at amo rtized cost. The presentation of fair value changes on derivatives that are designated and effective hedging instruments differs depending on the type of hedge relationship (refer to item 3k in this Note for more information). Financial assets h eld for trading (other than derivatives) are presented as Trading portfolio assets. Financial assets designated at fair value through profit or loss are presented as Financial assets designated at fair value . Loans and receivables (amortized cost) Non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are not assets for which the Group may not recover substantially all of its initial net investment for reas ons other than credit deterioration. This classification includes: cash and balances with centr al banks cash collateral receivables on derivative instruments residential and commercial mortgages secured loans, including reverse repurchase agreements, receivables under stock borrowing and L ombard loans, and unsecured loans certain securities held within Corporate Center – Non- c ore and Legacy Portfolio trade and l ease receivables . Measured at amortized cost using the effective interest rate method less allowances for credit losses (refer to items 3c and 3g in this Note ). Upfront fees and direct costs relating to loan origination, refinancing or restructuring as well as to loan commitments are deferred and amortized over the life of the loan using the effective interest rate method. Loans and receivables are presented on t he balance sheet primarily as Cash and balances with central banks, Due from banks, Loans, Cash collateral on securities borrowed, Reverse repurchase agreements and Cash collateral receivables on derivative instruments. Amounts arising from e xchange-trade d derivatives (ETD) and certain over-the-counter ( OTC ) derivatives cleared through central clearing counterparties that are either considered to be daily settled or qualify for netting (refer to items 3d and 3j in this Note ) are presented within Cash colla teral receivables on derivative instruments. Financial assets classification Significant items included Measurement and presentation Available for sale Financial assets classified as available for sale are non-derivative financial assets that are not classified as held for trading, designated at fair value through profit or loss, or loans and receivables. This classification mainly includes d ebt securitie s held as HQLA and managed by Corporate Center – Group ALM , certain asset-backed securities managed by Corporate Center – Group ALM , as well as investment fund holdings and strategic and commercial equity investments. Measured at fair value with unrealized gains and losses reported in Other comprehensive income, n et of applicable income taxes, until such investments are sold, collected or otherwise disposed of, or until any such investment is determined to be impaired ( refer to item 3i in this Note). Upon disposal, any accumulated balances in Other comprehensive income are reclassified to the income statement and reported within Other income. Interest and dividend income are recognized in the income statement in accorda nce with item 3c in this Note. Refer to item 13 in this Note for information on the treatment of foreign exchange translation gains and losses. Held to maturity Non-derivative financial assets with fixed or determinable payments and fixed maturities for w hich UBS has the positive inten tion and ab i l ity to hold to maturity. This classification mainly includes debt securities held as HQLA and managed by Corporate Center – Group ALM. Measured at amortized cost using the effective interest rate method less all owances for credit losses (refer to items 3c and 3g in this Note ). Financial liabilities c lassification Significant items included Measurement and presentation Held for trading Obligations to deliver financial instruments, such as debt and equity instruments, that UBS has sold to third parties, but does not own (short positions) . All derivatives with a negative replacement value, except those that are designated and effective hed ging instruments . Measurement of trading liabilities follows the same principles as for held for trading assets , and measurement of liabilities designated at fair value through profit or loss follows the same principles as for assets designated at fair val ue through profit or loss. Presented as Trading portfolio liabilities and Financial liabilities designated at fair value, respectively. Derivative liabilities are generally presented as Negative replacement values. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost . Derivatives that are designated and effective hedging instruments are also measured at fair value. The presentation of fair value cha nges differs depending on the type of hedge relationship ( refer to item 3k in this Note for more information). Amounts due under unit-linked investment contracts are presented as Other liabilities. Designated at fair value through profit or loss UBS designated at fair value through profit or loss the following financial liabilities: Issued hybrid debt instruments that primarily include equity-linked, credit-linked and rates-linked bonds or notes. Issued debt instruments managed on a fair value basis. Loan commitments that are hedged predominantly with credit derivatives and hence eliminate an accounting mismatch. Measurement of trading liabilities follows the same principles as for held for trading assets , and measurement of liabilities designated at fair value through profit or loss follows the same principles as for assets designated at fair val ue through profit or loss. Presented as Trading portfolio liabilities and Financial liabilities designated at fair value, respectively. Derivative liabilities are generally presented as Negative replacement values. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost . Derivatives that are designated and effective hedging instruments are also measured at fair value. The presentation of fair value cha nges differs depending on the type of hedge relationship ( refer to item 3k in this Note for more information). Amounts due under unit-linked investment contracts are presented as Other liabilities. Amortized cost This classification includes: Demand and time deposits, retail savings / deposits, cash collateral on securities lent, non-structured fixed-rate bonds, subordinated debt, certificates of deposit, covered bonds . Cash collateral payables on derivative instruments. Measured at amortized cost using the effective interest rat e method. Amortized cost liabilities are presented on the balance sheet primarily as Due to banks, Due to customers, Cash collateral on securities lent, Repurchase agreements, Cash collateral payables on derivative instruments and Debt issued. Amounts arising from ETD and certain OTC derivatives cleared through central clearing counterparties that are either considered to be daily settled or qualify for netting (refer to items 3d and 3j of this Note ) are presented within Cash collateral payables on derivative inst ruments. c. Interest income and expense Interest income or expense is determined by reference to a financial instrument ‘s amortized - cost basis calculated using the effective interest rate (EIR) method. UBS also uses this method to determine the interest income and expense for financial instruments (excluding derivatives) measured at fair value through profit or loss . Interest income or expense on financial instruments measured at amortized cost, debt instruments measured at fair value through profit or loss and available-for-sale financial assets are presented within Net interest income. In a dditi on, Net i nterest i ncome includes the int erest income and expense on derivatives designated as hedging instruments in effective hedge relationships and forward points on certain short duration foreign exchange contracts . Upfront fees, including loan commitment fees where a loan is expected to be issued, and direct costs are included within the initial measurement of a financial instrument measured at amortized cost or classified as available for sale. Such fees and costs are therefore recognized over the expected life of the instrument as part of its EIR. Fees related to loan commitments where no loan is expected to be issued, as well as loan syndication fees where UBS does not retain a portion of the syndicated loan or where UBS does retain a portion of the syndicated loan at the same effective yi eld for comparable risk as other participants, are included in Net fee and commission income. Interest income on financial assets, excluding derivatives, is included in Interest income when positive and in Interest expense when negative , because negative interest income arising on a financial asset does not meet the definition of revenue. Similarly, interest expense on financial liabilities, excluding derivatives, is included in Interest expense , except when interest rates are negative, in which case it is included in Interest income. Dividend income on all financial assets is included in Interest income. Refer to item 3k in this Note and Note 3 for more information d. Derecognition Financial assets UBS derecognizes a financial asset, or a portion of a financial asset, from its balance sheet where the contractual rights to cash flows from the asset have expired, or have been transferred, usually by sale, thus exposing the purchaser to either substantially all the risks and rewards of the asset or a signi ficant part of the risks and rewards combined with a practical ability to sell or pledge the asset. A financial asset is considered to have been transferred when UBS (i) transfers the contractual rights to receive the cash flows of the financial asset or (ii) retains the contractual rights to receive the cash flows of that asset, but assumes a contractual obligation to pay the cash flows to one or more entities. Where financial assets have been pledged as collateral or in similar arrangements, they are con sidered to have been transferred if the counterparty has received the contractual right to the cash flows of the pledged assets, as may be evidenced, for example, by the counterparty’s right to sell or repledge the assets. Where the counterparty to the ple dged financial assets has not received the contractual right to the cash flows, UBS does not consider this to be a transfer for the purposes of derecognition. UBS enters into certain transactions where it transfers financial assets recognized on its balan ce sheet but retains either all or a portion of the risks and rewards of the transferred financial assets. If all or substantially all of the risks and rewards are retained, the transferred financial assets are not derecognized from the balance sheet; for example, securities lending and repurchase transactions or where financial assets are sold to a third party with a total return swap resulting in UBS retaining all or substantially all of the risks and rewards of the transferred assets. These types of tran sactions are accounted for as secured financing transactions as described in item 3e of this Note . In transactions where substantially all of the risks and rewards of ownership of a financial asset are neither retained nor transferred, UBS derecognizes th e financial asset if control over the asset is surrendered , and the rights and obligations retained following the transfer are recognized separately as assets and liabilities, respectively. In transfers where control over the financial asset is retained, U BS continues to recognize the asset to the extent of its continuing involvement, determined by the extent to which it is exposed to changes in the value of the transferred asset following the transfer. Certain over-the-counter (OTC) derivative contracts a nd most exchange-traded futures and options contracts cleared through central cl earing counterpartie s are considered to be settled on a daily basis through the daily margining process, as the payment or receipt of the variation margin represents legal or e conomic settlement of a derivative contract, which results in derecognition of the associated positive and negative replacement values. Refer to Note 2 4 for more information Financial liabilities UBS derecognizes a financial liability from its balance sheet when it is extinguished, that is, when the obligation specified in the contract is discharged, canceled or has expired. When an exi sting financial liability is exchanged for a new one from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification results in derecognition of the original liabilit y and the recognition of a new liability with any difference in the respective carrying amounts being recognized in the income statement. e. Securities borrowing / lending and repurchase / reverse repurchase transactions Securities borrowing / lending and repurchase / reverse repurchase transactions are generally entered into on a collateralized basis. In such transactions, UBS typically borrows or lends equity and debt securities in exchange for securities or cash collateral. These transactions are treat ed as collateralized financing transactions where the securities transferred / received are not derecognized or recognized on balance sheet. Securities transferred / received with the right to resell or repledge are disclosed separately. In reverse repurch ase and securities borrowing agreements, the cash delivered is derecognized and a corresponding receivable, including accrued interest, is recorded in the balance sheet lines Reverse repurchase a greements and Cash collateral on securities borrowed, respectively , representing UBS’s right to receive the cash. Similarly, in repurchase and securities lending agreements, the cash received is recognized and a corresponding obligation, including accrued interest, is recorded in the balance sheet lines Repur chase agreements and Cash collateral on securities lent, respectively . Additionally, the sale of securities that is settled by delivering securities received in reverse repurchase or securities borrowing transactions triggers the recognition of a trading l iability. Repurchase and reverse repurchase transactions with the same counterparty, maturity, currency and central securities d epository (CSD) are generally presented net, subject to meeting the netting requirements described in item 3j of this Note . Refe r to Notes 23 and 24 for more information f. Fair value of financial instruments UBS accounts for a significant portion of its assets and liabilities at fair value. Fair value is the price on the measurement date that would be received for the sale of an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market, or in the most advantageous market in the absence of a principal market. All financial instruments measured at fair value are categorized into one of three fair value hierarchy levels. Level 1 financial instruments are those for which fair values can be derived from quoted prices in active markets. Level 2 financial instruments are those for which fair values must be derived using valuation techniques for which all significant inputs are, or are based on, observable market data. Level 3 financial instruments are those for which fair values can only be derived on the basis of valuation techniques for which significant inputs are not based on observable market data. Critical accounting estimates and judgments The use of valuation techniques, modeling assumptions and estimates of unobservable market inputs require significant judgment and could affect the amount of gain or loss recorded for a p articular position. Valuation techniques that rely more heavily on unobservable inputs require a higher level of judgment to calculate a fai |
UBS AG | |
Disclosure Significant Accounting Policies [Line Items] | |
Significant accounting policies | Note 1 Summary of significant accounting policies a) Significant accounting policies This Note describes the significant accounting policies applied in the preparation of the consolidated financial statements (the “Financial Statements”) of UBS AG and its subsidiar ies (“UBS AG”). On 8 March 2018, the Financial Statements were authorized for issue by the Boar d of Directors. Basis of accounting The Financial Statements have been prepared in accordance with International Financial Reporting Standards ( IFRS ) , as issued by the International Accounting Standards Board (IASB), and are presented in Swiss francs (CHF) , which is also the functional currency of UBS AG’s Head Office and its Swiss-based operations. Disclosures provided in the “Risk, treasury and capital management” section of this report that are marked as audited form an integral part of the Financial Sta tements. These disclosures relate to requirements under IFRS 7, Financial Instruments: Disclosures and IAS 1, Presentation of Financial Statements and are not repeated in this section. The accounting policies described in this Note have been applied consi stently in all years presented unless otherwise stated in Note 1b. Critical accounting estimates and judgments Preparation of these Financial Statements under IFRS requires management to apply judgment and make estimates and assumptions that affect reported amounts of assets, liabilities, income and expenses and disclosure of contingent assets and liabilities, and may involve significant uncertainty at the time they are made. Such estimates and assumptions are based on the best available information. UBS AG regularly reassesses the estimates and assumptions, which encompass historical experience, expectations of the future and other pertinent factors, to determine their continuing relevance based on current conditions and it updates them as necessary. Changes in those estimates and assumptions may have a significant impact on the Financial Statements. Further, actual results may differ significantly from UBS AG’s estimates, which could result in significant loss to it , beyond what it anticipated or provided for. The following areas contain estimation uncertainty or require critical judgment and have a signif icant effect on the amounts recognized in the Financial Statements: fair value of financial instruments (refer to item 3f in this Note and to Note 22) allowances and provisions for credit losses (refer to item 3g in this Note and to Note 11) pension and other post-employment benefit plans (refer to item 7 in this Note and to Note 26) income taxes (refer to item 8 in this Note and to Note 8 ) goodwill (refer to item 11 in this Note and to Note 15) provisions and contingent liabilities (refer to item 12 in this Note and to Note 20) consolidation of structured entities (refer to item 1 in this Note and to Note 28) . 1) Consolidation a. Consolidation principles The Financial Statements comprise the financial statements of UBS AG and its subsidiaries, presente d as a single economic entity, whereby intercompany transactions and balances have been eliminated. UBS AG consolidates all entities that it controls, including controlled structured entities (SEs), which is the case when it has (i) power over the relevant activities of the entity, (ii) exposure to an entity ‘s variable returns and (iii) the ability to use its power to affect its own returns. Where an entity is governed by voting rights, control is generally indicated by a direct shareholding of more than on e-half of the voting rights. In other cases, the assessment of control is more complex and requires greater use of judgm ent. Where UBS AG has an interest in an entity that absorbs variability, UBS AG considers whether it has power over the relevant activities of the entity that allows it to affect the variability of its returns. Consideration is given to all facts and circu mstances to determine whether UBS AG has power over another entity ; that is, the current ability to direct the relevant activities of an entity when decisions about those activities need to be made. Factors such as the purpose and design of the entity, rig hts held through contractual arrangements , such as call rights, put rights or liquidation rights, as well as potential decision-making rights are all considered in this assessment. Where UBS AG has power over the relevant activities, a further assessment i s made to determine whether, through that power, it has the ability to affect its own returns by assessing whether power is held in a principal or agent capacity. Consideration is given to (i) the scope of decision-making authority, (ii) rights held by oth er parties, including removal or other participating rights, and (iii) exposure to variability, including remuneration, relative to total variability of the entity as well as whether that exposure is different from that of other investors. If, after review of these factors, UBS AG concludes that it can exercise its power to affect its own returns, the entity is consolidated. Subsidiaries, including SEs, are consolidated from the date when control is obtained and are deconsolidated from the date when control ceases. Control, or the lack thereof, is reassessed if facts and circumstances indicate that there is a change to one or more of the elements required to establish that control is present. Refer to Note 28 for more information b. Structured entities UBS AG sponsors the formation of SEs and interacts with non-sponsored SEs for a variety of reasons, including allowing clients to obtain or be exposed to particular risk profiles, to provide funding or to sell or purchase credit risk. An SE is an entity that h as been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Such entities generally have a narrow and well-defined objective and include those historically referred to as special purpose entities , as w ell as some investment funds. UBS AG assesses whether an entity is an SE by considering the nature of the activities of the entity as well as the substance of voting or similar rights afforded to other parties, including investors and independent boards or directors. UBS AG considers rights such as the ability to liquidate the entity or remove the decision maker to be similar to voting rights when the holder has the substantive ability to exercise such rights without cause. In the absence of such rights or in cases where the existence of such rights cannot be fully established, the entity is considered to be an SE. The classes of SEs with which UBS AG is involved include: Securitization structured entities are established to issue securities to investors t hat are backed by assets held by the SE and whereby (i) significant credit risk associated with the securitized exposures has been transferred to third parties and (ii) there is more than one risk position or tranche issued by the securitization vehicle in line with the Basel III securitization definition. All securitization entities are classified as SEs. Client investment structured entities are established predominantly for clients to invest in specific assets or risk exposures through purchasing notes issued by the SE, predominantly on a fixed-term basis. The SE may source assets via a transfer from UBS AG or through an external market transaction. In some cases, UBS AG may enter into derivatives with the SE to either align the cash flows of the entity with the investor’s intended investment objective or to introduce other desired risk exposures. In certain cases, UBS AG may have interests in a third-party-sponsored SE to hedge specific risks or participate in asset-backed financing. Investment fund stru ctured entities have a collective investment objective, are managed by an investment manager and are either passively managed, so that any decision making does not have a substantive effect on variability, or are actively managed and investors or their gov erning bodies do not have substantive voting or similar rights. UBS AG creates and sponsors a large number of funds in which it may have an interest through the receipt of variable management fees and / or a direct investment. In addition, UBS AG has inter ests in a number of funds created and sponsored by third parties, including exchange-traded funds and hedge funds, to hedge issued structured products. When UBS AG does not consolidate an SE, but has an interest in an SE or has sponsored an SE, disclosure s are provided on the nature of these interests and sponsorship activities. Critical accounting estimates and judgments Each individual entity is assessed for consolidation in line with the aforementioned consolidation principles. The assessment of contr ol can be complex and requires the use of significant judgment. As the nature and extent of UBS AG’s involvement are unique to each entity, there is no uniform consolidation outcome by entity. Certain entities within a class may be consolidated while other s may not. Refer to Note 28 for more information 2) Segment reporting As of 31 December 2017, UBS AG‘s businesses were organized globally into five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank, all of which were supported by Corporate Center. The five business divisions qualify as reportable segments for the purpose of segment reporting and, together with Corporate Center, reflect the management structure of UBS AG . Corporate Center – Non-core and Legacy Portfolio is managed and reported as a separate reportable segment within Corp orate Center. Financial information about the five business divisions and Corporate Center (with its units : Services, Group Asset and Liability Management (Group ALM), Non-core and Legacy Portfolio) is presented separately in internal reporting to manageme nt . UBS AG ’s internal accounting policies, which include management accounting policies and service level agreements, determine the revenues and expenses directly attributable to each reportable segment. Transactions between the reportable segments are ca rried out at internally agreed rates and are reflected in the operating results of the reportable segments. Revenue-sharing agreements are used to allocate external client revenues to reportable segments where several reportable segments are involved in th e value creation chain. Commissions are credited to the reportable segments based on the corresponding client relationship. Total intersegment revenues for UBS AG are immaterial, as the majority of the revenues are allocated across the segments by means of revenue-sharing agreements. Net interest income is generally allocated to the reportable segments based on their balance sheet positions. Interest income earned from managing UBS AG ’s consolidated equity is allocated to the reportable segments based on av erage attributed equity. Assets and liabilities of the reportable segments are funded through and invested with Corporate Center – Group ALM, and the net interest margin is reflected in the results of each reportable segment. Segment assets are based on a third-party view and do not include intercompany balances. This view is in line with internal reporting to management . Certain assets managed centrally by Corporate Center – Services and Corporate Center – Group ALM may be allocated to other segments on a basis different to that on which the corresponding costs or revenues are allocated. For example, certain assets that are reported in Corporate Center – Services or Corporate Center – Group ALM may be retained on the balance sheet of these components of Cor porate Center notwithstanding that the costs or revenues associated with these assets may be entirely or partly allocated to the segments. Similarly, certain assets are reported in the business divisions, whereas the corresponding costs or revenues are ent irely or partly allocated to Corporate Center – Services and Corporate Center – Group ALM. Non-current assets disclosed for segment reporting purposes represent assets that are expected to be recovered more than twelve months after the reporting date, excl uding financial instruments, deferred tax assets, post-employment benefits and rights arising under insurance contracts. Refer to Note s 1c and 2 for more information 3) Financial instruments a. Recognition UBS AG recognizes financial instruments when it becomes a party to the contractual provisions of the instrument. UBS AG applies settlement date accounting to all regular way purchases and sales of financial instruments . In transactions in which UBS AG acts a s a transferee, to the extent that the transf er of a financial asset does not qualify for derecognition by the t ransferor, UBS AG does not recogniz e the transferred asset as its asset. UBS AG also acts in a fiduciary capacity, which results in the holding or placing of assets on behalf of individuals , trusts, retirement benefit plans and other institutions. Unless the recognition criteria are satisfied, these assets are not recognized on UBS AG’s balance sheet. Consequently, the related income is excluded from these Financial Statements. Client cash balances associated with derivatives clearing and execution services are not recognized on the balance sheet if, through contractual agreement, regulation or practice, UBS AG neither obtains benefits from nor controls the client cash balances. b. Classific ation, measurement and presentation Upon initial recognition, UBS records financial instruments at fair value plus, for financial instruments not measured at fair value through profit or loss, directly attributable transaction costs. After initial recognit ion, UBS AG classifies, measures and presents its financial assets and liabilities in accordance with IAS 39, Financial Instruments: Recognition and Measurement as described in the following table. Refer to Note 25a for an overview of financial assets and liabilities by IAS 39 category Refer to the balance sheet for references to Notes that provide information on the composition of individual financial asset and liability categories Financial assets c lassification Significant items included Measurement and presentation Held for trading All derivatives with a positive replacement value, except those that are designated and effective hedging instruments . Any other financial asset acquired principally for the purpose of selling or repurchasing in the near term, or part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit taking. Included in this category are debt instruments (including those in the form of securities, money market paper and traded corporate and bank loans), equity instruments, and assets held under unit-link ed investment contracts. Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Net trading income, except interest and dividend income on instruments other than derivatives ( refer to item 3c in this Note ), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short dur ation foreign exchange contracts, which are reported in Net interest income. Derivative assets are generally presented as Positive replacement values. Bifurcated embedded derivatives are measured at fair value, but presented on the same balance sheet l ine as the host contract measured at amortized cost. The presentation of fair value changes on derivatives that are designated and effective hedging instruments differs depending on the type of hedge relationship (refer to item 3k in this Note for more i nformation). Financial assets h eld for trading (other than derivatives) are presented as Trading portfolio assets. Financial assets designated at fair value through profit or loss are presented as Financial assets designated at fair value . Designated at fair value through profit or loss A financial asset may be designated at fair value through profit or loss only upon initial recognition and this designation is irrevocable. The fair value option can be applied only if one of the following criteria is met: the financial instrument is a hybrid instrument that includes a substantive embedded derivative; the financial instrument is part of a portfolio that is risk managed on a fair value basis and reported to senior management on that basis ; or the application of the fair value option eliminates or significantly reduces an accounting mismatch that would otherwise arise. UBS AG designated at fair value through profit or loss the following financial assets : Certain structured loans, reverse repurchase and securities borrowing agreements that are managed on a fair value basis. Loans that are hedged predominantly with credit derivatives. These instruments are designated at fair value to eliminate an accounting mismatch. Certain debt securities held as high-quality liquid assets (HQLA) and managed by Corporate Cent er – Group ALM on a fair value basis. Assets held to hedge delivery obligations related to cash-settled employee compensation plans. These assets are designated at fair value in order to eliminate an accounting mismatch that would otherwise arise due to the liability being measured on a fair value basis. Measured at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Net trading income, except interest and dividend income on instruments other than derivatives ( refer to item 3c in this Note ), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short dur ation foreign exchange contracts, which are reported in Net interest income. Derivative assets are generally presented as Positive replacement values. Bifurcated embedded derivatives are measured at fair value, but presented on the same balance sheet l ine as the host contract measured at amortized cost. The presentation of fair value changes on derivatives that are designated and effective hedging instruments differs depending on the type of hedge relationship (refer to item 3k in this Note for more i nformation). Financial assets h eld for trading (other than derivatives) are presented as Trading portfolio assets. Financial assets designated at fair value through profit or loss are presented as Financial assets designated at fair value . Loans and receivables (amortized cost) Non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are not assets for which UBS AG may not recover substantially all of its initial net investment for reas ons other than credit deterioration. Thi s classification includes: cash and balances with central banks cash collateral receivables on derivative instruments residential and commercial mortgages secured loans, including reverse repurchase agreements, receivables under stock borrowing and L ombard loans, and unsecured loans certain securities held within Corporate Center – Non- c ore and Legacy Portfolio trade and l ease receivables . Measured at amortized cost using the effective interest rate method less allowances for credit losses (refer to items 3c and 3g in this Note ). Upfront fees and direct costs relating to loan origination, refinancing or restructuring as well as to loan commitments are deferred and amortized over the life of the loan using the effective interest rate method. Loans and rece ivables are presented on the balance sheet primarily as Cash and balances with central banks, Due from banks, Loans, Cash collateral on securities borrowed, Reverse repurchase agreements and Cash collateral receivables on derivative instruments. Amounts a rising from e xchange-traded derivatives (ETD) and certain over-the-counter ( OTC ) derivatives cleared through central clearing counterparties that are either considered to be daily settled or qualify for netting (refer to items 3d and 3j in this Note ) are p resented within Cash collateral receivables on derivative instruments. Financial assets classification Significant items included Measurement and presentation Available for sale Financial assets classified as available for sale are non-derivative financial assets that are not classified as held for trading, designated at fair value through profit or loss, or loans and receivables. This classification mainly includes d ebt securities held as HQLA and managed by Corporate Center – Group ALM , certain asset-backed securities managed by Corporate Center – Group ALM , as well as investment fund holdings and strategic and commercial equity invest ments. Measured at fair value with unrealized gains and losses reported in Other comprehensive income, n et of applicable income taxes, until such investments are sold, collected or otherwise disposed of, or until any such investment is determined to be impaired (refer to item 3i in this Note). Upon disposal, any accumulated balances in Other comprehensive income are reclassified to the income statement and reported within Other incom e. Interest and dividend income are recognized in the income statement in accordance with item 3c in this Note. Refer to item 13 in this Note for information on the treatment of foreign exchange translation gains and losses. Held to maturity Non-derivative financial assets with fixed or determinable payments and fixed maturities for which UBS AG has the positive inten tion and ab i l ity to hold to maturity. This classification mainly includes debt securities held as HQLA and managed by Corporate Center – Group ALM. Measured at amortized cost using the effective interest rate method less allowances for credit losses (refer to items 3c and 3g in this Note ). Financial liabilities c lassification Significant items included Measurement and presentation Held for trading Obligations to deliver financial instruments, such as debt and equity instruments, that UBS AG has sold to third parties, but does not own (short positions) . All derivatives with a negative replacement value, except those that are designated and effective hedging instruments . Measurement of trading liabilities follows the same principles as for held for trading assets , and measurement of liabilities designated at fair value through profit or loss follows the same principles as for assets designated at fair value through profit or loss. Presented as Trading portfolio liabilities and Financial liabilities designated at fair value, respectively. Derivative liabilities are generally presented as Negative replacement values. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost . Derivatives that are designated and effective hedging instruments are also measured at fair value . The presentation of fair value changes differs depending on the type of hedge relationship ( refer to item 3k in this Note for more information). Amounts due under unit-linked investment contracts are presented as Other liabilities. Designated at fair value through profit or loss UBS AG designated at fair value through profit or loss the following financial liabilities: Issued hybrid debt instruments that primarily include equity-linked, credit-linked and rates-linked bonds or notes. Issued debt instruments managed on a fair value basis. Loan commitments that are hedged predominantly with credit derivatives and hence eliminate an accounting mismatch. Measurement of trading liabilities follows the same principles as for held for trading assets , and measurement of liabilities designated at fair value through profit or loss follows the same principles as for assets designated at fair value through profit or loss. Presented as Trading portfolio liabilities and Financial liabilities designated at fair value, respectively. Derivative liabilities are generally presented as Negative replacement values. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost . Derivatives that are designated and effective hedging instruments are also measured at fair value . The presentation of fair value changes differs depending on the type of hedge relationship ( refer to item 3k in this Note for more information). Amounts due under unit-linked investment contracts are presented as Other liabilities. Amortized cost This classification includes: Demand and time deposits, retail savings / deposits, cash collateral on securities lent, non-structured fixed-rate bonds, subordinated debt, certificates of deposit, covered bonds . Cash collateral payables on derivative instruments. Measured at amortized cost using the effective interest rat e method. Amortized cost liabilities are presented on the balance sheet primarily as Due to banks, Due to customers, Cash collateral on securities lent, Repurchase agreements, Cash collateral payables on derivative instruments and Debt issued. Amounts arising from ETD and certain OTC derivatives cleared through central clearing counterparties that are either considered to be daily settled or qualify for netting (refer to items 3d and 3j of this Note ) are presented within Cash collateral payable s on derivative instruments. c. Interest income and expense Interest income or expense is determined by reference to a financial instrument ‘s amortized - cost basis calculated using the effective interest rate (EIR) method. UBS AG also uses this method to determine the interest income and expense for financial instruments (e xcluding derivatives) measured at fair value through profit or loss . Interest income or expense on financial instruments measured at amortized cost, debt instruments measured at fair value through profit or loss and available-for-sale financial assets are presented within Net interest income. In a dditi on, Net i nterest i ncome includes the interest income and expense on derivatives designated as hedging instruments in effective hedge relationships and forward points on certain short duration foreign exchange contracts . Upfront fees, including loan commitment fees where a loan is expected to be issued, and direct costs are included within the initial measurement of a financial instrument measured at amortized cost or classified as available for sale. Such fees and costs are therefore recognized over the expected life of the instrument as part of its EIR. Fees related to loan commitments where no loan is expected to be issued, as well as loan syndication fees where UBS AG does not retain a portion of the syndicat ed loan or where UBS AG does retain a portion of the syndicated loan at the same effective yield for comparable risk as other participants, are included in Net fee and commission income. Interest income on financial assets, excluding derivatives, is inclu ded in Interest income when positive and in Interest expense when negative , because negative interest income arising on a financial asset does not meet the definition of revenue. Similarly, interest expense on financial liabilities, excluding derivatives, is included in Interest expense , except when interest rates are negative, in which case it is included in Interest income. Dividend income on all financial assets is included in Interest income. Refer to item 3k in this Note and Note 3 for more information d. Derecognition Financial assets UBS AG derecognizes a financial asset, or a portion of a financial asset, from its balance sheet where the contractual rights to cash flows from the asset have expired, or have been transferred, usually by sale, thus ex posing the purchaser to either substantially all the risks and rewards of the asset or a significant part of the risks and rewards combined with a practical ability to sell or pledge the asset. A financial asset is considered to have been transferred when UBS AG (i) transfers the contractual rights to receive the cash flows of the financial asset or (ii) retains the contractual rights to receive the cash flows of that asset, but assumes a contractual obligation to pay the cash flows to one or more entities . Where financial assets have been pledged as collateral or in similar arrangements, they are considered to have been transferred if the counterparty has received the contractual right to the cash flows of the pledged assets, as may be evidenced, for examp le, by the counterparty’s right to sell or repledge the assets. Where the counterparty to the pledged financial assets has not received the contractual right to the cash flows, UBS AG does not consider this to be a transfer for the purposes of derecognitio n. UBS AG enters into certain transactions where it transfers financial assets recognized on its balance sheet but retains either all or a portion of the risks and rewards of the transferred financial assets. If all or substantially all of the risks and r ewards are retained, the transferred financial assets are not derecognized from the balance sheet; for example, securities lending and repurchase transactions or where financial assets are sold to a third party with a total return swap resulting in UBS AG retaining all or substantially all of the risks and rewards of the transferred assets. These types of transactions are accounted for as secured financing transactions as described in item 3e of this Note . In transactions where substantially all of the ri sks and rewards of ownership of a financial asset are neither retained nor transferred, UBS AG derecognizes the financial asset if control over the asset is surrendered , and the rights and obligations retained following the transfer are recognized separate ly as assets and liabilities, respectively. In transfers where control over the financial asset is retained, UBS AG continues to recognize the asset to the extent of its continuing involvement, determined by the extent to which it is exposed to changes in the value of the transferred asset following the transfer. Certain over-the-counter (OTC) derivative contracts and most exchange-traded futures and options contracts cleared through central cl earing counterpartie s are considered to be settled on a daily b asis through the daily margining process, as the payment or receipt of the variation margin represents legal or economic settlement of a derivative contract, which results in derecognition of the associated positive and negative replacement values. Refer t o Note 2 4 for more information Financial liabilities UBS AG derecognizes a financial liability from its balance sheet when it is extinguished, that is, when the obligation specified in the contract is discharged, canceled or has expired. When an existing financial liability is exchanged for a new one from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification results in derecognition of the original liability and the recognition of a new liability with any difference in the respective carrying amounts being recognized in the income statement. e. Securities borrowing / lending and repurchase / reverse repurchase transactions Securities borrowing / lending and repurchase / reverse repurchase transactions are generally entered into on a collateralized basis. In such transactions, UBS AG typically borrows or lends equity and debt securities in exchange for securities or cash collateral. These transactions are treated as collateralized financing transactions where the securities transferred / received are not derecognized or recognized on balance sheet. Securities transferred / received with the right to resell or repledge are disclosed separately. In reverse repurchase and securities borrowing agreements, the cash delivered is d erecognized and a corresponding receivable, including accrued interest, is recorded in the balance sheet lines Reverse repurchase a greements and Cash collateral on securities borrowed, respectively , representing UBS AG ’s right to receive the cash. Similarl y, in repurchase and securities lending agreements, the cash received is recognized and a corresponding obligation, including accrued interest, is recorded in the balance sheet lines Repurchase agreements and Cash collateral on securities lent, respectivel y . Additionally, the sa |
Changes in accounting policies,
Changes in accounting policies, comparability and adjustments | 12 Months Ended |
Dec. 31, 2017 | |
Changes In Accounting Policies Comparability And Adjustments [Line Items] | |
Changes in accounting policies, comparability and adjustments | b) Changes in accounting policies, comparability and other adjustments Presentation of interest income and expense on derivatives designated as hedging instruments Effective 1 January 2017, UBS refined the presentation of interest income and interest expense on derivatives designated as hedging instruments in effective hedge relationships to align the presentation with interest arising from designated hedged items. As a result of this presentation change: Interest incom e from loans and deposits and Interest expense on debt issued for the year ended 31 December 2017 were each CHF 530 million lower, with no change to Net interest income . Interest income from derivative instruments designated as cash flow hedges, previously included wit hin Interest income from loans and deposits, is now separately disclosed within Note 3. Prior-period information has not been restated , as the effect wa s not material. Refer to Note 3 for more information Amendments to IAS 7, Statemen t of Cash Flows UBS adopted amendments to IAS 7, Statement of Cash Flows, in 2017 and now separately discloses the drivers of changes in financial liabilities arising from financing activities, including changes arising from cash flows and non-cash changes , in its statement of cash flows. Refer to the statement of cash flows for more information Refer to the “Balance sheet, liquidity and funding management” section of this report for information on liabilities and funding management Amendments to IAS 12, I ncome Taxes In 2017, UBS adopted amendments to IAS 12, Income Taxes , that clarify how to account for deferred tax assets related to debt instruments measured at fair value. The adoption of these amendments did not have a material impact on the Group’s financial statements. |
UBS AG | |
Changes In Accounting Policies Comparability And Adjustments [Line Items] | |
Changes in accounting policies, comparability and adjustments | b) Changes in accounting policies, comparability and other adjustments Presentation of interest income and expense on derivatives designated as hedging instruments Effective 1 January 2017, UBS AG refined the presentation of interest income and interest expense on derivatives designated as hedging instruments in effective hedge relationships to align the presentation with interest arising from designated hedged items. As a result of this presentation change: Interest incom e fr om loans and deposits was CHF 530 million lower, while Interest expense on debt issued and Interest expense on loans and deposits for the year ended 31 December 2017 were lower by CHF 382 million and CHF 148 million, respectively, with no change to Net int erest income . Interest income from derivative instruments designated as cash flow hedges, previously included within Interest income from loans and deposits, is now separately disclosed within Note 3. Prior-period information has not been restated , as th e effect wa s not material. Refer to Note 3 for more information Amendments to IAS 7, Statement of Cash Flows UBS AG adopted amendments to IAS 7, Statement of Cash Flows, in 2017 and now separately discloses the drivers of changes in financial liabilities a rising from financing activities, including changes arising from cash flows and non-cash changes, in its statement of cash flows. Refer to the statement of cash flows for more information Refer to the “Balance sheet, liquidity and funding management” sect ion of this report for information on liabilities and funding management Amendments to IAS 12, Income Taxes In 2017, UBS AG adopted amendments to IAS 12, Income Taxes , that clarify how to account for deferred tax assets related to debt instruments measured at fair value. The adoption of these amendments did not have a material impact on UBS AG’s financial statements. |
IFRSs and interpretations to be
IFRSs and interpretations to be adopted and other adjustments | 12 Months Ended |
Dec. 31, 2017 | |
IFRSs And Interpretations To Be Adopted And Other Adjustments [Line Items] | |
IFRSs and interpretations to be adoptedand other adjustments | c) International Financial Reporting Standards and In terpretations to be adopted in 201 8 and later and other changes Effective from 2018 Changes in segment r eporting Effective 1 February 2018, UBS integrated its Wealth Management and Wealth Management Americas business divisions into a single Global Wealth Management business division, which is managed on an integrated basis, with a single set of key performance i ndicators, performance targets, operating plan and management structure . Consistent with this, the operating results of Global Wealth Management will be presented and assessed on an integrated basis in internal management reports to the Group Executive Board, which is considered the “chief operating d ecision maker” pursuant to IFRS 8, Operating Segments . Consequently, beginning from the first quarter of 2018, Global Wealth Management qualifies as an operating and reportable segment for the purposes of segment reporting and will be presented alongside P ersonal & Corporate Banking, Asset Management, the Investment Bank, and Corporate Center (with its units Services, Group Asset and Liability Management (Group ALM) and Non-core and Legacy Portfolio) . IFRS 9, Financial Instruments IFRS 9, Financial Instrum ents is effective from 1 January 2018 and will be applicable from UBS’s first quarter 2018 reporting . IFRS 9 reflects the classification and measurement, impairment and hedge accounting phases of the IASB’s project to replace IAS 39, Financial Instruments: Recognition and Measurement. In a ddition, UBS will early adopt the Amendment to IFRS 9 , Prepayment Features with Negative Compensation , issued in October 2017, which allows the Group to continue to apply amortized cost accounting to Swiss private mortgage s and corporate loans that provide for two-way compensation if a prepayment occurs. Classification and measurement IFRS 9 requires all financial assets, except equity instruments, to be classified at amortized cost, at fair value through other comprehensiv e income (OCI) or at fair value through profit or loss, based on the business model for managing the respective financial assets and their contractual cash flow characteristics. If a financial asset meets the criteria to be measured at amortized cost or at fair value through OCI, it can be designated at fair value through profit or loss if doing so would significantly reduce or eliminate an accounting mismatch. Equity instruments that are not held for trading may be accounted for at fair value through OCI, with no subsequent reclassification of realized gains or losses to the income statement under any circumstances, while all other equity instruments will be accounted for at fair value through profit or loss. For UBS, the most significant IFRS 9 classific ation and measurement changes on transition are due to the following: financial asse t s that will no longer qualify for amortized cost accounting under IFRS 9 will be classified at fair value through profit or loss because their cash flow characteristics do not satisfy the solely payments of principal and interest criteria (e.g., auction rate securities and certain brokerage receivables); lending arrangements that no longer qualify for amortized cost accounting under IFRS 9 will be classified at fair value t hrough profit or loss because the business model within which they are managed does not have an objective to hold financial assets in order to collect the contractual cash flows (e.g., certain Investment Bank lending arrangements ); equity instruments class ified as available for sale under IAS 39 will be classified at fair value through profit or loss under IFRS 9; and financial liabilities will be newly designated under IFRS 9 at fair value through profit or loss, from amortized cost accounting, to align with conclusions reached for associated financial assets that will be measured at fair value through profit or loss (e.g. , b rokerage payables). IFRS 9 classification and measurement requirements for financial liabilities are unchanged from IAS 39, except that any gain or loss arising on a financial liability designated at fair value through profit or loss that is attributable to changes in the issuer’s own credit risk (own credit) is presented in OCI and not recognized in the income statement. UBS early ad opted the own credit presentation change from 1 January 2016. Expected credit losses IFRS 9 introduces an approach for determining impairment based on forward-looking expected credit losses (ECLs), which is intended to result in an earlier recognition of credit losses compared with the existing incurred-loss impairment approach for financial instruments in IAS 39, and the loss-provisioning approach for financial guarantees and loan commitments in IAS 37, Provisions, Contingent Liabilities and Contingent As sets . The new impairment model applies to financial assets measured at amortized cost, debt instruments measured at fair value through OCI, lease receivables, and financial guarantee contracts and loan commitments that are not measured at fair value throug h profit or loss. Expected credit losses will be recognized on the following basis: A maximum of 12-month ECLs are required to be recognized from initial recognition, reflecting the portion of lifetime cash shortfalls that will result if a default occurs in the 12 months after the reporting date (or a shorter period if the expected life is less), weighted by the risk of that default occurring. Respective instruments are referred to as instruments in stage 1. Lifetime ECLs are required to be recognized if a significant increase in credit risk (SICR) is detected subsequent to the instrument’s initial recognition, reflecting lifetime cash shortfal ls that will result from all possible default events over the expected life of a financial instrument, weighted by the risk of default occurring. Respective instruments are referred to as instruments in stage 2. Where an SICR is no longer observed, the ins trument will move back to stage 1. Lifetime ECLs are a l ways recognized for credit-impaired financial instruments, referred to as instruments in stage 3. The IFRS 9 determination of whether an instrument is credit impaired will follow substantially the same principles used to determine whether an instrument is impaired under IAS 39, i.e., is based on the occurrence of one or more loss events. However, the ECL for credit-impaired financial instruments under IFRS 9 may differ mainly due to additional forward-l ooking considerations required under IFRS 9. Credit-impaired exposures may include positions for which no loss has occurred or no allowance has been recognized, for example because they are expected to be fully recoverable through the collateral held. Inst ruments that are no longer credit impaired move back to stage 2 or stage 1. Changes in lifetime ECLs since initial recognition are also recognized for instruments that are purchased or originated credit impaired. The methodology applied will calculate an individual probability-weighted unbiased ECL in line with the complexity, structure and risk profile of relevant portfolios. The following principal factors will be applied: probability of default (PD), loss given default (LGD), exposure at default (EAD) a nd discounting of cash flows to the reporting date, alongside an evaluation of a range of possible outcomes, forecasts of future economic conditions and information on past events and current conditions. PDs and LGDs used in the ECL calculation will be poi nt in time (PIT) based and consider a range of scenarios (upside, baseline, mild downside, downside) to capture material non-linearity and asymmetries, and scenario weights will be applied to reflect a likelihood of their occurrence. UBS will measure ECL o ver the maximum contractual period it is exposed to credit risk , taking into account contractual extension, termination and prepayment options. For certain credit card facilities without a defined contractual end date, which are callable on demand and wher e the drawn and undrawn portions are managed as one unit, the period over which UBS is exposed to credit risk exceeds the contractual notice period and therefore this longer period is used within the ECL calculation. Qualitative and quantitative criteria are used to determine whether the credit risk on a particular instrument has significantly increased from its initial recognition. UBS will assess changes in an instrument’s risk of default primarily based on a comparison of the annualized forward-looking and scenario-weighted lifetime PIT-based PDs at inception of the instrument and the reporting date. Additional qualitative information is considered, including internal indicators of credit risk such as days-past-due information, external market indicators of credit risk and general economic conditions, to detect significant increases in credit risk. IFRS 9 does not provide an explicit definition of default. For the purpose of measuring expected credit losses, UBS will apply a definition of default that is consistent with the definition used in capital calculations and by internal credit risk management. Overall, the level of credit losses is expected to increase under IFRS 9 alongside additional income statement volatility due to the use of forward-looking assumptions and the application of the SICR approach. Hedge accounting IFRS 9 also includes an optional revised hedge accounting model, which further aligns the accounting treatment with the risk management practices. As permitted by the standard, UBS wi ll not adopt the optional IFRS 9 hedge accounting requirements pending completion of the International Accounting Standards Board’s project on macro hedge accounting strategies. However, new mandatory hedge accounting disclosures will be adopted on 1 Janua ry 2018 as required, providing additional information on UBS’s hedging strategies by hedged risk and hedge type. Transition In line with transitional provisions in IFRS 9, UBS will recognize an estimated pre-tax transition impact of CHF 0.7 billion, as wel l as a tax credit of CHF 0.1 billion, resulting in a net reduction of CHF 0.6 billion in UBS ’ s IFRS consolidated equity. Approximately half of this amount is attributable to the classification and measurement changes, arising predominantly from the change in measurement basis of certain financial assets that no longer qualify for amortized cost accounting due to their cash flow characteristics . The remainder of the reduction results from recognizing expected credit losses on all in-scope transactions, with the majority of the impact driven by the private and commercial mortgage portfolio in Switzerland within the Group’s Personal & Corporate Banking division. As permitted by IFRS 9, UBS will not restate prior-period data. Presentation Presentation of interest income: In line with consequential amendments to IAS 1, Presentation of Financial Statements, from 1 January 2018, U BS will present intere st income calculated using the effective interest method on assets that are subsequently measured at amortized cost and debt instruments that are measured at fair value through OCI separately in the income statement. Presentation of balance sheet: Effective with UBS’s first quarter 2018 reporting, UBS will make a series of presentational changes to the IFRS balance sheet reflecting the implementation of IFRS 9 , alongside consequential changes to improve comparability with prior periods. The primary changes include: IAS 39-specific asset categories such as “Financial assets held to maturity” and “Financial assets available for sale” will be superseded by the new categories “Financial assets measured at amortized cost” and “Financial assets measured at fair value through other comprehensive income (FVOCI).” A new category “Financial assets at fair value not held for trading” will be created to accommodate in particular financial assets previously designated at fair value, all of which are to be mandator ily classified at fair value through profit or loss given the assets are managed on a fair value basis. Brokerage receivables and Brokerage payables designated at fair value will be presented as separate line items, whereas they are presented within Other assets and Other liabilities , respectively, as of 31 December 2017. Other assets and Other liabilities will be split between measured at amortized cost, measured at fair value through profit or loss and other non-financial assets and liabilities. Cash col lateral on securities borrowed and Reverse repurchase agreements will be combined into a single line, “ Receivables from securities financing transactions ”. Similarly, Cash collateral on securities lent and Repurchase agreements will be combined into a sing le line, “ Payables from securities financing transactions ”. Financial liabilities designated at fair value will be split into two lines, “ Debt issued designated at fair value ” and “ Other financial liabilities designated at fair value ”. The table on the ne xt page illustrates the new balance sheet presentation of assets and liabilities in comparison with our current presentation. The presentation of the components of equity will not change, and therefore for illustration purposes total liabilities and equity are presented in a single line in the table on the next page . To support comparability, we will present prior-period information for periods ending before 1 January 2018 in this revised structure, beginning with the first quarter 2018 financial report. Th is table does not reflect any of the effects of adoption from the classification and measurement requirements of IFRS 9, Financial Instruments , which are only applicable for the periods ending after 1 January 2018. As permitted by the standard, we will not restate prior periods for classification and measurement or ECL changes with the adoption of IFRS 9. 2018 balance sheet presentation changes CHF million 31.12.17 31.12.17 Presentation in the 2017 financial statements Revised presentation applicable beginning 2018 Assets Cash and balances at central banks 87,775 87,775 Loans and advances to banks (formerly: Due from banks) 13,739 13,739 Receivables from securities financing transactions (new line) 89,633 Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) 12,393 Reverse repurchase agreements (newly included in Receivables from securities financing transactions) 77,240 Cash collateral receivables on derivative instruments 23,434 23,434 Loans and advances to customers (formerly: Loans) 319,568 318,509 Financial assets held to maturity (superseded) 9,166 Other financial assets measured at amortized cost (new line) 36,861 Total financial assets measured at amortized cost 569,950 Financial assets at fair value held for trading (formerly: Trading portfolio assets) 130,707 126,144 of which: assets pledged as collateral that may be sold or repledged by counterparties 35,363 35,363 Derivative financial instruments (formerly: Positive replacement values) 118,227 118,227 Brokerage receivables (new line, formerly included within Other assets) n/a n/a Financial assets at fair value not held for trading (new line) 58,933 Financial assets designated at fair value 58,933 Total financial assets measured at fair value through profit or loss 303,304 Financial assets available for sale (superseded) 8,665 Financial assets measured at fair value through other comprehensive income (new line) 1 8,665 Investments in associates 1,018 1,018 Property, equipment and software 8,829 8,829 Goodwill and intangible assets 6,398 6,398 Deferred tax assets 9,844 9,844 Other non-financial assets (new line) 7,633 Total non-financial assets 33,722 Other assets (superseded) 29,706 Total assets 915,642 915,642 Liabilities Amounts due to banks 7,533 7,533 Payables from securities financing transactions (new line) 17,044 Cash collateral on securities lent (newly included in Payables from securities financing transactions) 1,789 Repurchase agreements (newly included in Payables from securities financing transactions) 15,255 Cash collateral payables on derivative instruments 30,247 30,247 Customer deposits (formerly: Due to customers) 408,999 408,999 Debt issued measured at amortized cost 139,551 139,551 Other financial liabilities measured at amortized cost (new line) 36,337 Total financial liabilities measured at amortized cost 639,711 Financial liabilities at fair value held for trading (formerly: Trading portfolio liabilities) 30,463 30,463 Derivative financial instruments (formerly: Negative replacement values) 116,133 116,133 Brokerage payables designated at fair value (new line, formerly included within Other liabilities) n/a n/a Financial liabilities designated at fair value (superseded) 54,202 Debt issued designated at fair value (new line) 49,502 Other financial liabilities designated at fair value (new line) 16,223 Total financial liabilities measured at fair value through profit or loss 212,322 Provisions 3,133 3,133 Other non-financial liabilities (new line) 9,205 Total non-financial liabilities 12,338 Other liabilities (superseded) 57,064 Total liabilities 864,371 864,371 Total liabilities and equity 915,642 915,642 1 Consists of debt instruments. IFRS 15, Revenue from Contracts with Customers UBS will adopt IFRS 15, Revenue from Contracts with Customers , which replaces IAS 18, Revenue for periods beginning on 1 January 2018. IFRS 15 establishes principles for revenue recognition that apply to all c ontracts with customers except those relating to financial instruments, leases and insurance contracts and requires an entity to recognize revenue as performance obligations are satisfied. In particular, the standard now specifies that variable considerati on is only recognized to the extent that it is highly probable that a significant reversal will not occur when the uncertainty associated with the variable consideration is subsequently resolved. IFRS 15 also provides guidance on when revenues and expense s should be presented on a gross or net basis and establishes a cohesive set of disclosure requirements for information on the nature, amount, timing and uncertainty of revenue and cash flows from contracts with customers. UBS will adopt the standard on a modified retrospective basis that does not require comparatives to be restated. Instead, the cumulative effect of initially applyi ng the standard will be recogniz ed as an adjustment to the opening balance of retained earnings. The transition adjustment wi ll not be material. IFRS 15 will result in a deferral of some performance-based fees in Asset Management and research revenues in the Investment Bank. H owever , the impact on Group ’ s revenues is not expected to be material. UBS will also present certain f ee and commission income and expense on a gross basis, rather than net basis, if UBS is acting as a principal . Fee and commission income will be reported in the income statement separately from Fee and commission expense . The supporting note disclosure for f ee and commission income will be enhanced to provide more information on the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers . IAS 28, Investments in Associates and Joint Ventures In October 2017, the IASB i ssued an amendment to IAS 28, Investments in Associates and Joint Ventures that clarified that IFRS 9 must be applied when accounting for long-term interests in an associate or joint venture to which the equity method of accounting is not applied. The amen dment is mandatorily effective for accounting periods beginning on or after 1 January 2019. However, UBS will ea rly adopt this amendment from 1 January 2018 to align with the mandatory application date of IFRS 9, and expects that it will have no material i mpact on the Group ’ s financial statements. Amendments to IFRS 2, Share-based Payment In June 2016, the IASB issued amendments to IFRS 2, Share-based Payment , which are mandatorily effective as of 1 January 2018. The amendments clarify that the approach us ed to account for vesting and non-vesting conditions when measuring cash-settled share-based payments is consistent with that used for equity-settled share-based payments. The amendments also clarify the classification of share-based payments settled net o f withholding tax as well as the accounting consequences resulting from a modification of share-based payments from cash-settled to equity-settled. The adoption of these amendments will not have a material impact on the Group ’ s financial statements. IFRIC 22, Foreign Currency Transactions and Advance Consideration In December 2016, the IFRS Interpretations Committee of the IASB issued IFRIC Interpretation 22, Foreign Currency Transactions and Advance Consideration (IFRIC 22), which clarifies that in circums tances when an advance consideration is received or paid before recognizing an associated asset, expense or income, the exchange rate to be used on initial recognition of the related asset, expense or income is the rate determined as of the date of transac tion – i.e., the date of initial recognition of the non-monetary asset or non-monetary liability arising from the receipt or payment of advance consideration. UBS is required to apply IFRIC 22 from 1 January 2018. The adoption of this IFRS Interpretation w ill not have a material impact on Group’s financial statements. Effective from 2019 IFRS 16, Leases In January 2016, the IASB issued IFRS 16 , Leases, which replaces IAS 17, Leases and is mandatorily effective as of 1 January 2019. The standard substantially changes how lessees must account for operating lease commitments, requiring a lease liability with a corresponding right-of-use asset to be recognized on the balance sheet, comp ared with the current off-balance sheet treatment of such leases. UBS expects to report an increase in assets and liabilities from adoption as of 1 January 2019 in line with its disclosure of undiscounted operating lease commitments as set out in N ote 31. IFRIC 23, Uncertainty over Income Tax Treatments In June 2017, the IASB issued IFRIC Interpretation 23, Uncertainty over Income Tax Treatments (IFRIC 23), which addresses how uncertain tax positions should be accounted for under IFRS. Under this interpretation, IFRIC 23 requires that, where acceptance of the tax treatment by the relevant tax authority is considered probable, it should be assumed as an accounting recognition matter that treatment of the item will ultimately be accepted. Therefore, no tax provision would be required in such cases. However, if acceptance of the tax treatment is not considered probable, the entity is required to refl ect that uncertainty using an expected value (i.e., a probability-weighted approach) or the single most likely amount. IFRIC 23 is mandatorily effective for accounting periods beginning on or after 1 January 2019 and any resulting change to the tax provisi ons should be recognized in retained earnings. UBS is in the process of assessing the impact of this interpretation, which is not expected to have a material effect on the Group ’ s financial statements. Amendments to IAS 19, Employee B enefits In February 2018, the IASB issued amendments to IAS 19, Employee Benefits , which address the accounting when a plan amendment, curtailment or settlement occurs during the reporting period. The amendments require entities to use the updated actuarial assumption to dete rmine current service cost and net interest for the remainder of the annual report ing period after such an event. The amendments also clarify how the requirements for accounting for a plan amendment, curtailment or settlement affect the asset ceiling requi rements. The amendment s are effective prospectively for plan amendments, curtailments or settlements that occur on or after 1 January 2019, with earlier application permitted . UBS does not intend to early adopt this amendment. Annual Improvements to IFRS S tandards 2015–2017 Cycle In December 2017, the IASB issued Annual Improvements to IFRS Standards 2015–2017 Cycle , which resulted in amendments to IFRS 3, Business Combinations , IFRS 11, Joint Arrangements , IAS 12, Income Taxes and IAS 23, Borrowing Costs . The amendments are mandatorily effective as of 1 January 2019. UBS expects that the adoption of these amendments will not have a material impact on the Group ’ s financial statements. |
UBS AG | |
IFRSs And Interpretations To Be Adopted And Other Adjustments [Line Items] | |
IFRSs and interpretations to be adoptedand other adjustments | c) International Financial Reporting Standards and In terpretations to be adopted in 201 8 and later and other changes Effective from 2018 Changes in segment reporting Effective 1 February 2018, UBS AG integrated its Wealth Management and Wealth Management Americas business divisions into a single Global Wealth Management business division, which is managed on an integrated basis, with a single set of key performance i ndicators, performance targets, operating plan and management structure . Consistent with this, the operating results of Global Wealth Management will be presented and assessed on an integrated basis in internal reporting to management. Consequently, beginning from the first quarter of 2018, Global Wealth Management qualifies as an operating and reportable segment for the purposes of segment reporting and will be presented alongside Personal & Corporate Banking, Asset Management, the Investment Bank, and Corporate Cente r (with its units Services, Group Asset and Liability Management (Group ALM) and Non-core and Legacy Portfolio) . IFRS 9, Financial Instruments IFRS 9, Financial Instruments is effective from 1 January 2018 and will be applicable from UBS AG’ s first quarte r 2018 reporting . IFRS 9 reflects the classification and measurement, impairment and hedge accounting phases of the IASB’s project to replace IAS 39, Financial Instruments: Recognition and Measurement. In a ddition, UBS AG will early adopt the Amendment to IFRS 9 , Prepayment Features with Negative Compensation , issued in October 2017, which allows it to continue to apply amortized cost accounting to Swiss private mortgages and corporate loans that provide for two-way compensation if a prepayment occurs. Clas sification and measurement IFRS 9 requires all financial assets, except equity instruments, to be classified at amortized cost, at fair value through other comprehensive income (OCI) or at fair value through profit or loss, based on the business model for managing the respective financial assets and their contractual cash flow characteristics. If a financial asset meets the criteria to be measured at amortized cost or at fair value through OCI, it can be designated at fair value through profit or loss if do ing so would significantly reduce or eliminate an accounting mismatch. Equity instruments that are not held for trading may be accounted for at fair value through OCI, with no subsequent reclassification of realized gains or losses to the income statement under any circumstances, while all other equity instruments will be accounted for at fair value through profit or loss. For UBS AG, the most significant IFRS 9 classification and measurement changes on transition are due to the following: financial asse t s that will no longer qualify for amortized cost accounting under IFRS 9 will be classified at fair value through profit or loss because their cash flow characteristics do not satisfy the solely payments of principal and interest criteria (e.g., auction rat e securities and certain brokerage receivables); lending arrangements that no longer qualify for amortized cost accounting under IFRS 9 will be classified at fair value through profit or loss because the business model within which they are managed does no t have an objective to hold financial assets in order to collect the contractual cash flows (e.g., certain Investment Bank lending arrangements); equity instruments classified as available for sale under IAS 39 will be classified at fair value through prof it or loss under IFRS 9; and financial liabilities will be newly designated under IFRS 9 at fair value through profit or loss, from amortized cost accounting, to align with conclusions reached for associated financial assets that will be measured at fair value through profit or loss (e.g. , brokerage payables). IFRS 9 classification and measurement requirements for financial liabilities are unchanged from IAS 39, except that any gain or loss arising on a financial liability designated at fair value throug h profit or loss that is attributable to changes in the issuer’s own credit risk (own credit) is presented in OCI and not recognized in the income statement. UBS AG early adopted the own credit presentation change from 1 January 2016. Expected credit losse s IFRS 9 introduces an approach for determining impairment based on forward-looking expected credit losses (ECLs), which is intended to result in an earlier recognition of credit losses compared with the existing incurred-loss impairment approach for fina ncial instruments in IAS 39, and the loss-provisioning approach for financial guarantees and loan commitments in IAS 37, Provisions, Contingent Liabilities and Contingent Assets . The new impairment model applies to financial assets measured at amortized co st, debt instruments measured at fair value through OCI, lease receivables, and financial guarantee contracts and loan commitments that are not measured at fair value through profit or loss. Expected credit losses will be recognized on the following basis: A maximum of 12-month ECLs are required to be recognized from initial recognition, reflecting the portion of lifetime cas h shortfalls that will result if a default occurs in the 12 months after the reporting date (or a shorter period if the expected life is less), weighted by the risk of that default occurring. Respective instruments are referred to as instruments in stage 1 . Lifetime ECLs are required to be recognized if a significant increase in credit risk (SICR) is detected subsequent to the instrument’s initial recognition, reflecting lifetime cash shortfalls that will result from all possible default events over the exp ected life of a financial instrument, weighted by the risk of default occurring. Respective instruments are referred to as instruments in stage 2. Where an SICR is no longer observed, the instrument will move back to stage 1. Lifetime ECLs are a l ways reco gnized for credit-impaired financial instruments, referred to as instruments in stage 3. The IFRS 9 determination of whether an instrument is credit impaired will follow substantially the same principles used to determine whether an instrument is impaired under IAS 39, i.e., is based on the occurrence of one or more loss events. However, the ECL for credit-impaired financial instruments under IFRS 9 may differ mainly due to additional forward-looking considerations required under IFRS 9. Credit-impaired exp osures may include positions for which no loss has occurred or no allowance has been recognized, for example because they are expected to be fully recoverable through the collateral held. Instruments that are no longer credit impaired move back to stage 2 or stage 1. Changes in lifetime ECLs since initial recognition are also recognized for instruments that are purchased or originated credit impaired. The methodology applied will calculate an individual probability-weighted unbiased ECL in line with the co mplexity, structure and risk profile of relevant portfolios. The following principal factors will be applied: probability of default (PD), loss given default (LGD), exposure at default (EAD) and discounting of cash flows to the reporting date, alongside an evaluation of a range of possible outcomes, forecasts of future economic conditions and information on past events and current conditions. PDs and LGDs used in the ECL calculation will be point in time (PIT) based and consider a range of scenarios (upside , baseline, mild downside, downside) to capture material non-linearity and asymmetries, and scenario weights will be applied to reflect a likelihood of their occurrence. UBS AG will measure ECL over the maximum contractual period it is exposed to credit ri sk , taking into account contractual extension, termination and prepayment options. For certain credit card facilities without a defined contractual end date, which are callable on demand and where the drawn and undrawn portions are managed as one unit, the period over which UBS AG is exposed to credit risk exceeds the contractual notice period and therefore this longer period is used within the ECL calculation. Qualitative and quantitative criteria are used to determine whether the credit risk on a particul ar instrument has significantly increased from its initial recognition. UBS AG will assess changes in an instrument’s risk of default primarily based on a comparison of the annualized forward-looking and scenario-weighted lifetime PIT-based PDs at inceptio n of the instrument and the reporting date. Additional qualitative information is considered, including internal indicators of credit risk such as days-past-due information, external market indicators of credit risk and general economic conditions, to dete ct significant increases in credit risk. IFRS 9 does not provide an explicit definition of default. For the purpose of measuring expected credit losses, UBS AG will apply a definition of default that is consistent with the definition used in capital calcul ations and by internal credit risk management. Overall, the level of credit losses is expected to increase under IFRS 9 alongside additional income statement volatility due to the use of forward-looking assumptions and the application of the SICR approach . Hedge accounting IFRS 9 also includes an optional revised hedge accounting model, which further aligns the accounting treatment with the risk management practices. As permitted by the standard, UBS AG will not adopt the optional IFRS 9 hedge accounting requirements pending completion of the International Accounting Standards Board’s project on macro hedge accounting strategies. However, new mandatory hedge accounting disclosures will be adopted on 1 January 2018 as required, providing additional informat ion on UBS AG’s hedging strategies by hedged risk and hedge type. Transition In line with transitional provisions in IFRS 9, UBS will recognize an estimated pre-tax transition impact of CHF 0.7 billion, as well as a tax credit of CHF 0.1 billion, resulting in a net reduction of CHF 0.6 billion in UBS’s IFRS consolidated equity. Approximately half of this amount is attributable to the classification and measurement changes, arising predominantly from the change in measurement basis of certain financial asset s that no longer qualify for amortized cost accounting due to their cash flow characteristics . The remainder of the reduction results from recognizing expected credit losses on all in-scope transactions, with the majority of the impact driven by the privat e and commercial mortgage portfolio in Switzerland within the Personal & Corporate Banking division. As permitted by IFRS 9, UBS AG will not restate prior-period data. Presentation Presentation of interest income: In line with consequential amendments to IAS 1, Presentation of Financial Statements, from 1 January 2018, U BS AG will present interest income calculated using the effecti ve interest method on assets that are subsequently measured at amortized cost and debt instruments that are measured at fair value through OCI separately in the income statement. Presentation of balance sheet: Effective with UBS AG’s first quarter 2018 re porting, UBS AG will make a series of presentational changes to the IFRS balance sheet reflecting the implementation of IFRS 9 , alongside consequential changes to improve comparability with prior periods. The primary changes include: IAS 39-specific asset categories such as “Financial assets held to maturity” and “Financial assets available for sale” will be superseded by the new categories “Financial assets measured at amortized cost” and “Financial assets measured at fair value through other comprehensive income (FVOCI).” A new category “Financial assets at fair value not held for trading” will be created to accommodate in particular financial assets previously designated at fair value, all of which are to be mandatorily classified at fair value through pr ofit or loss given the assets are managed on a fair value basis. Brokerage receivables and Brokerage payables designated at fair value will be presented as separate line items, whereas they are presented within Other assets and Other liabilities , respectiv ely, as of 31 December 2017. Other assets and Other liabilities will be split between measured at amortized cost, measured at fair value through profit or loss and other non-financial assets and liabilities. Cash collateral on securities borrowed and Reve rse repurchase agreements will be combined into a single line, “ Receivables from securities financing transactions ”. Similarly, Cash collateral on securities lent and Repurchase agreements will be combined into a single line, “ Payables from securities fina ncing transactions ”. Financial liabilities designated at fair value will be split into two lines, “ Debt issued designated at fair value ” and “ Other financial liabilities designated at fair value ”. The table on the next page illustrates the new balance she et presentation of assets and liabilities in comparison with our current presentation. The presentation of the components of equity will not change, and therefore for illustration purposes total liabilities and equity are presented in a single line in the table on the next page . To support comparability, we will present prior-period information for periods ending before 1 January 2018 in this revised structure, beginning with the first quarter 2018 financial report. This table does not reflect any of the ef fects of adoption from the classification and measurement requirements of IFRS 9, Financial Instruments , which are only applicable for the periods ending after 1 January 2018. As permitted by the standard, we will not restate prior periods for classificati on and measurement or ECL changes with the adoption of IFRS 9. 2018 balance sheet presentation changes CHF million 31.12.17 31.12.17 Presentation in the 2017 financial statements Revised presentation applicable beginning 2018 Assets Cash and balances at central banks 87,775 87,775 Loans and advances to banks (formerly: Due from banks) 13,693 13,693 Receivables from securities financing transactions (new line) 89,633 Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) 12,393 Reverse repurchase agreements (newly included in Receivables from securities financing transactions) 77,240 Cash collateral receivables on derivative instruments 23,434 23,434 Loans and advances to customers (formerly: Loans) 321,718 320,659 Financial assets held to maturity (superseded) 9,166 Other financial assets measured at amortized cost (new line) 36,935 Total financial assets measured at amortized cost 572,129 Financial assets at fair value held for trading (formerly: Trading portfolio assets) 130,807 126,244 of which: assets pledged as collateral that may be sold or repledged by counterparties 35,363 35,363 Derivative financial instruments (formerly: Positive replacement values) 118,229 118,229 Brokerage receivables (new line, formerly included within Other assets) n/a n/a Financial assets at fair value not held for trading (new line) 58,556 Financial assets designated at fair value 58,556 Total financial assets measured at fair value through profit or loss 303,028 Financial assets available for sale (superseded) 8,665 Financial assets measured at fair value through other comprehensive income (new line) 1 8,665 Investments in associates 1,018 1,018 Property, equipment and software 7,985 7,985 Goodwill and intangible assets 6,398 6,398 Deferred tax assets 9,783 9,783 Other non-financial assets (new line) 7,358 Total non-financial assets 32,541 Other assets (superseded) 29,505 Total assets 916,363 916,363 Liabilities Amounts due to banks 7,533 7,533 Payables from securities financing transactions (new line) 17,044 Cash collateral on securities lent (newly included in Payables from securities financing transactions) 1,789 Repurchase agreements (newly included in Payables from securities financing transactions) 15,255 Cash collateral payables on derivative instruments 30,247 30,247 Customer deposits (formerly: Due to customers) 447,141 447,141 Debt issued measured at amortized cost 104,749 104,749 Other financial liabilities measured at amortized cost (new line) 37,133 Total financial liabilities measured at amortized cost 643,847 Financial liabilities at fair value held for trading (formerly: Trading portfolio liabilities) 30,463 30,463 Derivative financial instruments (formerly: Negative replacement values) 116,134 116,134 Brokerage payables designated at fair value (new line, formerly included within Other liabilities) n/a n/a Financial liabilities designated at fair value (superseded) 54,202 Debt issued designated at fair value (new line) 49,502 Other financial liabilities designated at fair value (new line) 16,223 Total financial liabilities measured at fair value through profit or loss 212,323 Provisions 3,084 3,084 Other non-financial liabilities (new line) 6,335 Total non-financial liabilities 9,419 Other liabilities (superseded) 54,990 Total liabilities 865,588 865,588 Total liabilities and equity 916,363 916,363 1 Consists of debt instruments. IFRS 15, Revenue from Contracts with Customers UBS AG will adopt IFRS 15, Revenue from Contracts with Customers , which replaces IAS 18, Revenue for periods beginning on 1 January 2018. IFRS 15 establishes principles fo r revenue recognition that apply to all contracts with customers except those relating to financial instruments, leases and insurance contracts and requires an entity to recognize revenue as performance obligations are satisfied. In particular, the standar d now specifies that variable consideration is only recognized to the extent that it is highly probable that a significant reversal will not occur when the uncertainty associated with the variable consideration is subsequently resolved. IFRS 15 also provi des guidance on when revenues and expenses should be presented on a gross or net basis and establishes a cohesive set of disclosure requirements for information on the nature, amount, timing and uncertainty of revenue and cash flows from contracts with cus tomers. UBS AG will adopt the standard on a modified retrospective basis that does not require comparatives to be restated. Instead, the cumulative effect of initially applyi ng the standard will be recogniz ed as an adjustment to the opening balance of ret ained earnings. The transition adjustment will not be material. IFRS 15 will result in a deferral of some performance-based fees in Asset Management and research revenues in the Investment Bank. H owever , the impact on UBS AG ’ s revenues is not expected to be material. UBS AG will also present certain fee and commission income and expense on a gross basis, rather than net basis, if UBS AG is acting as a principal . Fee and commission income will be reported in the income statement separately from Fee and commission expense . The supporting note disclosure for fee and commission income will be enhanced to provide more information on the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers . IAS 28, Investments in Ass ociates and Joint Ventures In October 2017, the IASB issued an amendment to IAS 28, Investments in Associates and Joint Ventures that clarified that IFRS 9 must be applied when accounting for long-term interests in an associate or joint venture to which th e equity method of accounting is not applied. The amendment is mandatorily effective for accounting periods beginning on or after 1 January 2019. However, UBS AG will early adopt this amendment from 1 January 2018 to align with the mandatory application da te of IFRS 9, and expects that it will have no material impact on its financial statements. Amendments to IFRS 2, Share-based Payment In June 2016, the IASB issued amendments to IFRS 2, Share-based Payment , which are mandatorily effective as of 1 January 2018. The amendments clarify that the approach used to account for vesting and non-vesting conditions when measuring cash-settled share-based payments is consistent with that used for equity-settled share-based payments. The amendments also clarify the cla ssification of share-based payments settled net of withholding tax as well as the accounting consequences resulting from a modification of share-based payments from cash-settled to equity-settled. The adoption of these amendments will not have a material i mpact on UBS AG’ s financial statements. IFRIC 22, Foreign Currency Transactions and Advance Consideration In December 2016, the IFRS Interpretations Committee of the IASB issued IFRIC Interpretation 22, Foreign Currency Transactions and Advance Considerati on (IFRIC 22), which clarifies that in circumstances when an advance consideration is received or paid before recognizing an associated asset, expense or income, the exchange rate to be used on initial recognition of the related asset, expense or income is the rate determined as of the date of transaction – i.e., the date of initial recognition of the non-monetary asset or non-monetary liability arising from the receipt or payment of advance consideration. UBS AG is required to apply IFRIC 22 from 1 January 2018. The adoption of this IFRS Interpretation will not have a material impact on UBS AG’s financial statements. Effective from 2019 IFRS 16, Leases In January 2016, the IASB issued IFRS 16 , Leases, which replaces IAS 17, Leases and is mandatorily effective as of 1 January 2019. The standard substantially changes how lessees must account for operating lease commitments, requiring a lease liability with a corresponding right-of-use asset to be recognized on the balance sheet, comp ared with the current off-balance sheet treatment of such leases. UBS AG expects to report an increase in assets and liabilities from adoption as of 1 January 2019 in line with its disclosure of undiscounted operating lease commitments as set out in N ote 3 1. IFRIC 23, Uncertainty over Income Tax Treatments In June 2017, the IASB issued IFRIC Interpretation 23, Uncertainty over Income Tax Treatments (IFRIC 23), which addresses how uncertain tax positions should be accounted for under IFRS. Under this interpretation, IFRIC 23 requires that, where acceptance of the tax treatment by the relevant tax authority is considered probable, it should be assumed as an accounting recognition matter that treatment of the item will ultimately be accepted. Therefore, no tax provision would be required in such cases. However, if acceptance of the tax treatment is not considered probable, the entit y is required to reflect that uncertainty using an expected value (i.e., a probability-weighted approach) or the single most likely amount. IFRIC 23 is mandatorily effective for accounting periods beginning on or after 1 January 2019 and any resulting chan ge to the tax provisions should be recognized in retained earnings. UBS AG is in the process of assessing the impact of this interpretation, which is not expected to have a material effect on its financial statements. Amendments to IAS 19, Employee B enefi ts In February 2018, the IASB issued amendments to IAS 19, Employee Benefits , which address the accounting when a plan amendment, curtailment or settlement occurs during the reporting period. The amendments require entities to use the updated actuarial as sumption to determine current service cost and net interest for the remainder of the annual report ing period after such an event. The amendments also clarify how the requirements for accounting for a plan amendment, curtailment or settlement affect the ass et ceiling requirements. The amendment s are effective prospectively for plan amendments, curtailments or settlements that occur on or after 1 January 2019, with earlier application permitted . UBS AG does not intend to early adopt this amendment. Annual Imp rovements to IFRS Standards 2015–2017 Cycle In December 2017, the IASB issued Annual Improvements to IFRS Standards 2015–2017 Cycle , which resulted in amendments to IFRS 3, Business Combinations , IFRS 11, Joint Arrangements , IAS 12, Income Taxes and IAS 2 3, Borrowing Costs . The amendments are mandatorily effective as of 1 January 2019. UBS AG expects that the adoption of these amendments will not have a material impact on it s financial statements. |
Segment reporting
Segment reporting | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Segment Reporting [Line Items] | |
Disclosure Of Entitys Reportable Segments Explanatory | Note 2 a Segment reporting The operational structure of the Group as of 31 December 2017 was comprised of Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. Wealth Management Wealth Management provides comprehensive advice and tailore d financial services to wealthy private clients around the world, except those served by Wealth Management Americas. Its clients benefit from the full spectrum of resources that UBS as a global firm can offer, including banking and lending solutions, wealt h planning, investment management solutions and corporate finance advice. Wealth Management’s guided architecture model gives clients access to a wide range of products from the world’s leading third-party institutions that complement its own products. Wea lth Management Americas Wealth Management Americas provides advice-based solutions through financial advisors who deliver a fully integrated set of products and services specifically designed to address the needs of their clients. Its business is primarily domestic US but includes Canada and international clients booked in the US. Personal & Corporate Banking Personal & Corporate Banking provides comprehensive financial products and services to private, corporate and institutional clients in Switzerland an d is among the leading players in the private and corporate loan market in Switzerland, with a well-collateralized and conservatively managed lending portfolio. Its business is central to UBS’s universal bank delivery model in Switzerland. Personal & Corp orate Banking works with the wealth management, investment bank and asset management businesses to help clients receive the best products and solutions for their specific financial needs. Personal & Corporate Banking is also an important source of growth f or the other business divisions in Switzerland through client referrals. In addition, Personal & Corporate Banking manages a substantial part of UBS’s Swiss infrastructure and banking products platform, both of which are leveraged across the Group. Asset Management Asset Management is a large-scale and diversified asset manager, with an onshore presence in 23 countries. It offers investment capabilities and investment styles across all major traditional and alternative asset classes, as well as platform s olutions and advisory support, to institutions, wholesale intermediaries and wealth management clients around the world. Investment Bank The Investment Bank provides investment advice, financial solutions and capital market access in over 35 countries, wit h principal offices in all major financial centers. It serves corporate, institutional and wealth management clients across the globe and partners with UBS’s wealth management, personal and corporate banking and asset management businesses. The business di vision is organized into Corporate Client Solutions and Investor Client Services and also includes UBS Securities Research. Corporate Center Corporate Center provides services to the Group through the reporting units Corporate Center – Services and Group Asset and Liability Management (Group ALM) . Corporate Center also includes the Non-core and Legacy Portfolio unit . Services consists of the Group Chief Operating Officer area (Group Corporate Services, Group Human Resources, Group Operations, Group Sourcin g and Group Technology), Group Finance (excluding Group ALM), Group Legal, Group Risk Control, Group Communications & Branding, Group Regulatory & Governance, and UBS and Society. Group ALM manages the structural risks of UBS’s balance sheet, including int erest rate risk in the banking book, currency risk and collateral risk, as well as the risks associated with the Group’s liquidity and funding portfolios. Group ALM also seeks to optimize the Group’s financial performance by matching assets and liabilities within the context of the Group’s liquidity, funding and capital targets and constraints. Group ALM serves all business divisions and other Corporate Center units through three main risk management areas, and its risk management is fully integrated into t he Group’s risk governance framework. Non-core and Legacy Portfolio manages legacy positions from businesses exited by the Investment Bank, and is overseen by a committee chaired by the Group Chief Risk Officer. Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2017 Net interest income 2,088 1,561 1,916 (32) 1,194 (348) 126 23 6,528 Non-interest income 5,285 6,676 1,772 2,058 6,891 75 (137) 48 22,667 Allocations from CC Group ALM 256 115 181 18 (344) 120 (264) (83) 0 Income 1 7,629 8,353 3,869 2,044 7,740 (153) (276) (11) 29,195 Credit loss (expense) / recovery (4) (4) (19) 0 (90) 0 0 (11) (128) Total operating income 7,625 8,349 3,850 2,044 7,651 (153) (276) (22) 29,067 Personnel expenses 2,354 5,173 836 716 2,949 3,785 34 43 15,889 General and administrative expenses 594 644 290 231 662 4,247 26 114 6,808 Services (to) / from CC and other BDs 2,372 1,282 1,133 514 2,769 (8,281) (13) 224 0 of which: services from CC Services 2,294 1,262 1,227 551 2,676 (8,345) 142 194 0 Depreciation and impairment of property, equipment and software 3 2 13 1 10 1,004 0 0 1,033 Amortization and impairment of intangible assets 2 7 41 0 3 12 7 0 0 70 Total operating expenses 3 5,330 7,141 2,272 1,466 6,402 762 47 381 23,800 Operating profit / (loss) before tax 2,295 1,208 1,578 578 1,249 (914) (322) (403) 5,268 Tax expense / (benefit) 4,139 Net profit / (loss) 1,128 Additional Information Total assets 123,003 67,071 135,556 14,269 262,931 20,875 245,737 46,200 915,642 Additions to non-current assets 89 27 15 1 3 1,573 0 0 1,707 1 Impairments of financial assets available for sale for the year ended 31 December 2017 totaled CHF 15 million, of which CHF 13 million was recorded in Asset Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2016 Net interest income 1,932 1,347 1,892 (33) 1,006 (322) 589 3 6,413 Non-interest income 4,975 6,320 1,768 1,957 6,953 183 (295) 84 21,944 Allocations from CC Group ALM 389 118 332 7 (260) 36 (512) (110) 0 Income 1 7,296 7,785 3,990 1,931 7,699 (102) (219) (23) 28,357 Credit loss (expense) / recovery (5) (3) (6) 0 (11) 0 0 (13) (37) Total operating income 7,291 7,782 3,984 1,931 7,688 (102) (219) (36) 28,320 Personnel expenses 2,349 4,819 845 727 3,082 3,801 31 66 15,720 General and administrative expenses 640 570 285 241 805 4,145 17 732 7,434 Services (to) / from CC and other BDs 2,348 1,235 1,080 506 2,765 (8,164) (49) 280 0 of which: services from CC Services 2,256 1,221 1,186 530 2,675 (8,204) 110 225 0 Depreciation and impairment of property, equipment and software 2 2 15 1 21 944 0 0 985 Amortization and impairment of intangible assets 2 4 50 0 4 12 21 0 0 91 Total operating expenses 3 5,343 6,675 2,224 1,479 6,684 747 (1) 1,078 24,230 Operating profit / (loss) before tax 1,948 1,107 1,760 452 1,004 (849) (218) (1,114) 4,090 Tax expense / (benefit) 805 Net profit / (loss) 3,286 Additional Information Total assets 115,539 65,882 139,912 12,028 242,302 23,669 267,200 68,485 935,016 Additions to non-current assets 26 4 23 1 3 1,759 0 0 1,816 1 Impairments of financial assets available for sale for the year ended 31 December 2016 totaled CHF 5 million, of which CHF 3 million was recorded in Asset Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2015 Net interest income 1,825 1,067 1,890 (34) 1,573 (340) 730 21 6,732 Non-interest income 5,859 6,213 1,603 2,077 7,526 435 378 (101) 23,990 Allocations from CC Group ALM 471 104 421 15 (211) 145 (832) (114) 0 Income 1 8,155 7,384 3,913 2,057 8,889 241 277 (195) 30,722 Credit loss (expense) / recovery 0 (4) (37) 0 (68) 0 0 (8) (117) Total operating income 8,155 7,381 3,877 2,057 8,821 241 277 (203) 30,605 Personnel expenses 2,532 4,579 873 729 3,220 3,903 30 116 15,981 General and administrative expenses 637 822 264 232 841 4,483 22 806 8,107 Services (to) / from CC and other BDs 2,289 1,209 1,077 502 2,817 (8,215) (57) 379 0 of which: services from CC Services 2,209 1,193 1,180 523 2,731 (8,245) 96 313 0 Depreciation and impairment of property, equipment and software 5 3 17 2 26 868 0 0 920 Amortization and impairment of intangible assets 2 3 51 0 8 24 21 0 0 107 Total operating expenses 3 5,465 6,663 2,231 1,474 6,929 1,059 (5) 1,301 25,116 Operating profit / (loss) before tax 2,689 718 1,646 584 1,892 (818) 282 (1,503) 5,489 Tax expense / (benefit) (898) Net profit / (loss) 6,386 Additional Information Total assets 119,850 60,993 141,164 12,874 253,486 22,566 237,517 94,369 942,819 Additions to non-current assets 6 4 14 1 18 1,851 0 1 1,895 1 Impairments of financial assets available for sale for the year ended 31 December 2015 totaled CHF 1 million, all in Wealth Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. Note 2 b Segment reporting by geographic location The operating regions shown in the t able below correspond to the regional management structure of the Group. The allocation of operating income to these regions reflects, and is consistent with, the basis on which the business is managed and its performance is evaluated. These allocations in volve assumptions and judgments that management considers to be reasonable, and may be refined to reflect changes in estimates or management structure. The main principles of the allocation methodology are that client revenues are attributed to the domicil e of the client and trading and portfolio management revenues are attributed to the country where the risk is managed. This revenue attribution is consistent with the mandate of the regional Presidents. Certain revenues, such as those related to Corporate Center – Non-core and Legacy Portfolio, are managed at a Group level. These revenues are included in the Global line. The geographic analysis of non-current assets is based on the location of the entity in which the assets are recorded. For the year ended 31 December 2017 Total operating income Total non-current assets CHF billion Share % CHF billion Share % Americas 12.0 41 7.2 44 of which: USA 11.4 39 6.7 41 Asia Pacific 4.7 16 0.8 5 Europe, Middle East and Africa 6.0 21 1.9 12 Switzerland 6.9 24 6.4 40 Global (0.4) (1) 0.0 0 Total 29.1 100 16.2 100 For the year ended 31 December 2016 Total operating income 1 Total non-current assets CHF billion Share % CHF billion Share % Americas 11.5 41 7.4 47 of which: USA 11.0 39 7.0 44 Asia Pacific 4.2 15 0.7 4 Europe, Middle East and Africa 6.1 22 1.8 11 Switzerland 6.9 24 6.0 38 Global (0.5) (2) 0.0 0 Total 28.3 100 15.9 100 For the year ended 31 December 2015 Total operating income 1 Total non-current assets CHF billion Share % CHF billion Share % Americas 11.2 37 7.1 47 of which: USA 10.5 34 6.7 44 Asia Pacific 5.1 17 0.5 3 Europe, Middle East and Africa 6.8 22 1.7 11 Switzerland 7.2 24 5.9 39 Global 0.4 1 0.0 0 Total 30.6 100 15.2 100 1 The geographical allocation of Total operating income has been restated to reflect a refinement in the allocation methodology. |
UBS AG | |
Disclosure Segment Reporting [Line Items] | |
Disclosure Of Entitys Reportable Segments Explanatory | Note 2 a Segment reporting T he operational structure of UBS AG as of 31 December 2017 was comprised of Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. Wealth Management Wealth Management provides comprehensive advice and tailore d financial services to wealthy private clients around the world, except those served by Wealth Management Americas. Its clients benefit from the full spectrum of resources that UBS AG as a global firm can offer, including banking and lending solutions, we alth planning, investment management solutions and corporate finance advice. Wealth Management’s guided architecture model gives clients access to a wide range of products from the world’s leading third-party institutions that complement its own products. Wealth Management Americas Wealth Management Americas provides advice-based solutions through financial advisors who deliver a fully integrated set of products and services specifically designed to address the needs of their clients. Its business is primar ily domestic US but includes Canada and international clients booked in the US. Personal & Corporate Banking Personal & Corporate Banking provides comprehensive financial products and services to private, corporate and institutional clients in Switzerland and is among the leading players in the private and corporate loan market in Switzerland, with a well-collateralized and conservatively managed lending portfolio. Its business is central to UBS AG ’s universal bank delivery model in Switzerland. Personal & Corporate Banking works with the wealth management, investment bank and asset management businesses to help clients receive the best products and solutions for their specific financial needs. Personal & Corporate Banking is also an important source of gr owth for the other business divisions in Switzerland through client referrals. In addition, Personal & Corporate Banking manages a substantial part of UBS AG ’s Swiss infrastructure and banking products platform, both of which are leveraged across UBS AG . Asset Management Asset Management is a large-scale and diversified asset manager, with an onshore presence in 23 countries. It offers investment capabilities and investment styles across all major traditional and alternative asset classes, as well as plat form solutions and advisory support, to institutions, wholesale intermediaries and wealth management clients around the world. Investment Bank The Investment Bank provides investment advice, financial solutions and capital market access in over 35 countrie s, with principal offices in all major financial centers. It serves corporate, institutional and wealth management clients across the globe and partners with UBS AG ’s wealth management, personal and corporate banking and asset management businesses. The business division is organized into Corporate Client Solutions and Investor Client Services and also includes UBS AG Securities Research. Corporate Center Corporate Center provides services to the Group through the reporting units Corporate Center – S ervices and Group Asset and Liability Management (Group ALM). Corporate Center also includes the Non-core and Legacy Portfolio unit. Services consists of the Group Chief Operating Officer area (Group Corporate Services, Group Human Resources, Group Operati ons, Group Sourcing and Group Technology), Group Finance (excluding Group ALM), Group Legal, Group Risk Control, Group Communications & Branding, Group Regulatory & Governance, and UBS and Society. Group ALM manages the structural risks of UBS AG ’s balance sheet, including interest rate risk in the banking book, currency risk and collateral risk, as well as the risks associated with UBS AG ’s liquidity and funding portfolios. Group ALM also seeks to optimize UBS AG ’s financial performance by matching assets and liabilities within the context of UBS AG ’s liquidity, funding and capital targets and constraints . Group ALM serves all business divisions and other Corporate Center units through three main risk management areas, and its risk management is fully integ rated into UBS AG ’s risk governance framework. Non-core and Legacy Portfolio manages legacy positions from businesses exited by the Investment Bank, and is overseen by a committee chaired by the Group Chief Risk Officer. Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2017 Net interest income 2,088 1,562 1,916 (32) 1,194 (354) 83 23 6,480 Non-interest income 5,286 6,676 1,772 2,058 6,891 464 (68) 48 23,127 Allocations from CC Group ALM 256 115 181 18 (344) 120 (264) (83) 0 Income 1 7,629 8,353 3,869 2,044 7,741 231 (249) (11) 29,606 Credit loss (expense) / recovery (4) (4) (19) 0 (90) 0 0 (11) (128) Total operating income 7,626 8,349 3,850 2,044 7,651 231 (249) (22) 29,479 Personnel expenses 2,355 5,177 833 716 2,950 2,565 34 43 14,673 General and administrative expenses 605 677 294 234 715 6,147 26 113 8,811 Services (to) / from CC and other BDs 2,372 1,281 1,131 512 2,767 (8,274) (13) 224 0 of which: services from CC Services 2,294 1,262 1,224 549 2,674 (8,338) 142 194 0 Depreciation and impairment of property, equipment and software 3 2 13 1 10 899 0 0 928 Amortization and impairment of intangible assets 2 7 41 0 3 12 7 0 0 70 Total operating expenses 3 5,342 7,178 2,271 1,466 6,453 1,344 47 380 24,481 Operating profit / (loss) before tax 2,284 1,171 1,579 578 1,198 (1,113) (296) (403) 4,998 Tax expense / (benefit) 4,077 Net profit / (loss) 921 Additional Information Total assets 123,003 67,071 135,587 14,270 263,046 19,447 247,739 46,200 916,363 Additions to non-current assets 89 27 15 1 3 1,478 0 0 1,612 1 Impairments of financial assets available for sale for the year ended 31 December 2017 totaled CHF 15 million, of which CHF 13 million was recorded in Asset Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2016 Net interest income 1,932 1,347 1,892 (33) 1,006 (322) 559 3 6,383 Non-interest income 4,975 6,320 1,768 1,957 6,951 250 (229) 84 22,075 Allocations from CC Group ALM 389 118 332 7 (260) 36 (512) (110) 0 Income 1 7,296 7,785 3,990 1,931 7,697 (36) (183) (23) 28,458 Credit loss (expense) / recovery (5) (3) (6) 0 (11) 0 0 (13) (37) Total operating income 7,291 7,782 3,984 1,931 7,686 (36) (183) (36) 28,421 Personnel expenses 2,348 4,819 843 727 3,081 3,674 31 66 15,591 General and administrative expenses 653 597 286 242 852 4,312 17 731 7,690 Services (to) / from CC and other BDs 2,348 1,235 1,079 505 2,757 (8,156) (49) 280 0 of which: services from CC Services 2,256 1,221 1,186 530 2,667 (8,196) 110 225 0 Depreciation and impairment of property, equipment and software 2 2 15 1 21 938 0 0 980 Amortization and impairment of intangible assets 2 4 50 0 4 12 21 0 0 91 Total operating expenses 3 5,355 6,702 2,224 1,480 6,724 790 (1) 1,077 24,352 Operating profit / (loss) before tax 1,936 1,081 1,761 451 962 (826) (182) (1,113) 4,069 Tax expense / (benefit) 781 Net profit / (loss) 3,288 Additional Information Total assets 115,539 65,882 139,945 12,026 242,388 23,813 267,275 68,485 935,353 Additions to non-current assets 26 4 23 1 3 1,741 0 0 1,798 1 Impairments of financial assets available for sale for the year ended 31 December 2016 totaled CHF 5 million, of which CHF 3 million was recorded in Asset Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2015 Net interest income 1,825 1,067 1,890 (34) 1,573 (337) 724 21 6,729 Non-interest income 5,859 6,213 1,603 2,077 7,525 434 383 (101) 23,993 Allocations from CC Group ALM 471 104 421 15 (211) 145 (832) (114) 0 Income 1 8,155 7,384 3,913 2,057 8,889 243 275 (195) 30,721 Credit loss (expense) / recovery 0 (4) (37) 0 (68) 0 0 (8) (117) Total operating income 8,155 7,381 3,876 2,057 8,821 243 275 (203) 30,605 Personnel expenses 2,532 4,579 873 729 3,220 3,875 30 116 15,954 General and administrative expenses 650 848 264 233 882 4,517 21 804 8,219 Services (to) / from CC and other BDs 2,289 1,209 1,077 502 2,816 (8,214) (57) 379 0 of which: services from CC Services 2,209 1,193 1,180 523 2,730 (8,243) 96 313 0 Depreciation and impairment of property, equipment and software 5 3 17 2 26 866 0 0 918 Amortization and impairment of intangible assets 2 3 51 0 8 24 21 0 0 107 Total operating expenses 3 5,478 6,689 2,231 1,475 6,969 1,065 (6) 1,298 25,198 Operating profit / (loss) before tax 2,676 692 1,646 583 1,852 (822) 281 (1,501) 5,407 Tax expense / (benefit) (908) Net profit / (loss) 6,314 Additional Information Total assets 119,850 60,993 141,174 12,874 253,571 22,866 237,560 94,369 943,256 Additions to non-current assets 6 4 14 1 18 1,844 0 1 1,888 1 Impairments of financial assets available for sale for the year ended 31 December 2015 totaled CHF 1 million, all in Wealth Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. Note 2 b Segment reporting by geographic location The operating regions shown in the table below correspond to the regional management structure of UBS AG. The allocation of operating income to these regions reflects, and is consistent with, the basis on which the business is managed and its performance is evaluated. These allocati ons involve assumptions and judgments that management considers to be reasonable, and may be refined to reflect changes in estimates or management structure. The main principles of the allocation methodology are that client revenues are attributed to the d omicile of the client and trading and portfolio management revenues are attributed to the country where the risk is managed. This revenue attribution is consistent with the mandate of the regional Presidents. Certain revenues, such as those related to Corp orate Center – Non-core and Legacy Portfolio, are managed at a global level. These revenues are included in the Global line. The geographic analysis of non-current assets is based on the location of the entity in which the assets are recorded. For the year ended 31 December 2017 Total operating income Total non-current assets CHF billion Share % CHF billion Share % Americas 12.0 41 7.2 47 of which: USA 11.4 39 6.7 44 Asia Pacific 4.7 16 0.7 5 Europe, Middle East and Africa 6.0 20 1.6 10 Switzerland 6.9 23 5.9 38 Global 0.0 0 0.0 0 Total 29.5 100 15.4 100 For the year ended 31 December 2016 Total operating income 1 Total non-current assets CHF billion Share % CHF billion Share % Americas 11.5 40 7.4 47 of which: USA 11.0 39 7.0 44 Asia Pacific 4.2 15 0.6 4 Europe, Middle East and Africa 6.1 21 1.8 11 Switzerland 6.9 24 6.0 38 Global (0.3) (1) 0.0 0 Total 28.4 100 15.8 100 For the year ended 31 December 2015 Total operating income 1 Total non-current assets CHF billion Share % CHF billion Share % Americas 11.2 37 7.1 47 of which: USA 10.5 34 6.7 44 Asia Pacific 5.1 17 0.5 3 Europe, Middle East and Africa 6.8 22 1.7 11 Switzerland 7.2 24 5.9 39 Global 0.4 1 0.0 0 Total 30.6 100 15.2 100 1 The geographical allocation of Total operating income has been restated to reflect a refinement in the allocation methodology. |
Net interest and trading income
Net interest and trading income | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Net Interest And Trading Income [Line Items] | |
Disclosure Of Interest Income Expense And Trading Income Expense Explanatory | Note 3 Net interest and trading income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Net interest and trading income 1 Net interest income 6,528 6,413 6,732 of which: Wealth Management 2,344 2,331 2,326 of which: Wealth Management Americas 1,679 1,467 1,174 of which: Personal & Corporate Banking 2,086 2,199 2,270 of which: Asset Management (14) (24) (17) Net trading income 4,972 4,948 5,742 of which: Wealth Management 694 667 708 of which: Wealth Management Americas 332 372 362 of which: Personal & Corporate Banking 376 333 343 of which: Asset Management (10) (5) 12 Total net interest and trading income 11,499 11,361 12,474 of which: Investment Bank 4,282 4,277 5,186 of which: Corporate Client Solutions 1,065 822 1,001 of which: Investor Client Services 3,217 3,455 4,185 of which: Corporate Center (270) (256) 110 of which: Services (42) (89) (3) of which: Group ALM (157) (104) 426 of which: own credit on financial liabilities designated at fair value 553 of which: Non-core and Legacy Portfolio (71) (62) (313) Net interest income Interest income Interest income from loans and deposits 2,3,4 8,461 9,570 8,625 Interest income from securities financing transactions 5 1,542 1,136 896 Interest income from trading portfolio 6 2,565 2,465 3,071 Interest income from financial assets and liabilities designated at fair value 548 361 194 Interest income from financial assets available for sale and held to maturity 6 260 253 391 Interest income from derivative instruments designated as cash flow hedges 2 818 Total 14,193 13,787 13,177 Interest expense Interest expense on loans and deposits 7 1,375 826 476 Interest expense on securities financing transactions 8 1,444 1,233 976 Interest expense on trading portfolio 9 1,506 1,614 1,670 Interest expense on financial assets and liabilities designated at fair value 864 841 730 Interest expense on debt issued 2 2,478 2,858 2,592 Total 7,665 7,373 6,445 Net interest income 6,528 6,413 6,732 Net trading income Investment Bank Corporate Client Solutions 597 188 321 Investment Bank Investor Client Services 2,812 3,332 3,494 Other business divisions and Corporate Center 1,562 1,428 1,928 Net trading income 4,972 4,948 5,742 of which: net gains / (losses) from financial assets designated at fair value 2,574 (191) (127) of which: net gains / (losses) from financial liabilities designated at fair value 10 (3,920) (1,362) 3,701 1 Net interest and trading income presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. 2 Effective 1 January 2017, the presentation of interest income and interest expense on derivatives designated as hedging instruments in effective hedge relationships was refined. Refer to Note 1b for more information. 3 Includes interest income on impaired loans and advances of CHF 12 million for 2017, CHF 21 million for 2016 and CHF 16 million for 2015. 4 Consists of interest income from balances with central banks, amounts due from banks and loans, and negative interest on amounts due to banks and customers. 5 Includes interest income on securities borrowed and reverse repurchase agreements and negative interest, including fees, on securities lent and repurchase agreements. 6 Includes dividend income. 7 Consists of interest expense on amounts due to banks and customers, and negative interest on balances with central banks, amounts due from banks and loans. 8 Includes interest expense on securities lent and repurchase agreements and negative interest, including fees, on securities borrowed and reverse repurchase agreements. 9 Includes expense related to dividend payment obligations on trading liabilities. 10 Excludes fair value changes of hedges related to financial liabilities designated at fair value and foreign currency translation effects arising from translating foreign currency transactions into the respective functional currency, both of which are reported within Net trading income. |
UBS AG | |
Disclosure Net Interest And Trading Income [Line Items] | |
Disclosure Of Interest Income Expense And Trading Income Expense Explanatory | Note 3 Net interest and trading income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Net interest and trading income 1 Net interest income 6,480 6,383 6,729 of which: Wealth Management 2,344 2,331 2,326 of which: Wealth Management Americas 1,680 1,467 1,174 of which: Personal & Corporate Banking 2,086 2,199 2,270 of which: Asset Management (14) (24) (17) Net trading income 4,974 4,943 5,696 of which: Wealth Management 694 667 708 of which: Wealth Management Americas 332 372 362 of which: Personal & Corporate Banking 375 333 343 of which: Asset Management (10) (5) 12 Total net interest and trading income 11,454 11,326 12,425 of which: Investment Bank 4,283 4,275 5,186 of which: Corporate Client Solutions 1,065 822 1,001 of which: Investor Client Services 3,218 3,453 4,185 of which: Corporate Center (316) (289) 61 of which: Services (47) (92) (1) of which: Group ALM (199) (134) 375 of which: own credit on financial liabilities designated at fair value 553 of which: Non-core and Legacy Portfolio (71) (62) (313) Net interest income Interest income Interest income from loans and deposits 2,3,4 8,475 9,566 8,626 Interest income from securities financing transactions 5 1,542 1,136 896 Interest income from trading portfolio 6 2,565 2,465 3,071 Interest income from financial assets and liabilities designated at fair value 548 361 194 Interest income from financial assets available for sale and held to maturity 6 260 253 391 Interest income from derivative instruments designated as cash flow hedges 2 818 Total 14,208 13,782 13,178 Interest expense Interest expense on loans and deposits 2,7 2,464 1,664 774 Interest expense on securities financing transactions 8 1,444 1,233 976 Interest expense on trading portfolio 9 1,506 1,614 1,670 Interest expense on financial assets and liabilities designated at fair value 864 841 730 Interest expense on debt issued 2 1,451 2,046 2,299 Total 7,728 7,399 6,449 Net interest income 6,480 6,383 6,729 Net trading income Investment Bank Corporate Client Solutions 597 188 321 Investment Bank Investor Client Services 2,813 3,330 3,494 Other business divisions and Corporate Center 1,564 1,425 1,882 Net trading income 4,974 4,943 5,696 of which: net gains / (losses) from financial assets designated at fair value 2,527 (186) (119) of which: net gains / (losses) from financial liabilities designated at fair value 10 (3,920) (1,362) 3,701 1 Net interest and trading income presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. 2 Effective 1 January 2017, the presentation of interest income and interest expense on derivatives designated as hedging instruments in effective hedge relationships was refined. Refer to Note 1b for more information. 3 Includes interest income on impaired loans and advances of CHF 12 million for 2017, CHF 21 million for 2016 and CHF 16 million for 2015. 4 Consists of interest income from balances with central banks, amounts due from banks and loans, and negative interest on amounts due to banks and customers. 5 Includes interest income on securities borrowed and reverse repurchase agreements and negative interest, including fees, on securities lent and repurchase agreements. 6 Includes dividend income. 7 Consists of interest expense on amounts due to banks and customers, and negative interest on balances with central banks, amounts due from banks and loans. 8 Includes interest expense on securities lent and repurchase agreements and negative interest, including fees, on securities borrowed and reverse repurchase agreements. 9 Includes expense related to dividend payment obligations on trading liabilities. 10 Excludes fair value changes of hedges related to financial liabilities designated at fair value and foreign currency translation effects arising from translating foreign currency transactions into the respective functional currency, both of which are reported within Net trading income. |
Net fee and commission income
Net fee and commission income | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Net Fee And Commission Income [Line Items] | |
Disclosure Of Fee And Commission Income Expense Explanatory | Note 4 Net fee and commission income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Underwriting fees 1,295 946 1,246 of which: equity underwriting fees 837 516 836 of which: debt underwriting fees 458 431 410 M&A and corporate finance fees 683 733 737 Brokerage fees 3,440 3,541 3,930 Investment fund fees 3,219 3,155 3,567 Portfolio management and advisory fees 8,542 8,035 7,858 Other 1,812 1,747 1,678 Total fee and commission income 18,991 18,157 19,016 Brokerage fees paid 660 757 869 Other 1,144 1,003 1,007 Total fee and commission expense 1,804 1,760 1,876 Net fee and commission income 17,186 16,397 17,140 of which: net brokerage fees 2,779 2,784 3,060 |
UBS AG | |
Disclosure Net Fee And Commission Income [Line Items] | |
Disclosure Of Fee And Commission Income Expense Explanatory | Note 4 Net fee and commission income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Underwriting fees 1,321 994 1,290 of which: equity underwriting fees 837 516 836 of which: debt underwriting fees 484 478 455 M&A and corporate finance fees 683 733 737 Brokerage fees 3,441 3,544 3,930 Investment fund fees 3,219 3,155 3,567 Portfolio management and advisory fees 8,542 8,035 7,858 Other 1,811 1,747 1,678 Total fee and commission income 19,018 18,207 19,060 Brokerage fees paid 660 757 869 Other 1,144 1,003 1,007 Total fee and commission expense 1,804 1,760 1,876 Net fee and commission income 17,214 16,447 17,184 of which: net brokerage fees 2,780 2,786 3,060 |
Other income
Other income | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Associates, joint ventures and subsidiaries Net gains / (losses) from disposals of subsidiaries 1 37 2 (150) 264 Share of net profits of associates and joint ventures 75 106 169 Impairment charges related to associates (7) Total 105 (44) 433 Financial assets available for sale Net gains / (losses) from disposals 193 346 252 Impairment charges (15) (5) (1) Total 178 342 251 Net income from properties (excluding net gains / (losses) from disposals) 3 24 25 28 Net gains / (losses) from disposals of properties held for sale 0 125 378 Net gains / (losses) from disposals of loans and receivables 15 (3) 26 Other 189 2 154 (9) Total other income 509 599 1,107 1 Includes foreign exchange gains / (losses) reclassified from Other comprehensive income related to disposed foreign subsidiaries and branches. 2 Net gains / (losses) from disposals of subsidiaries and Other include a net gain on sale of subsidiaries and businesses of CHF 153 million in Asset Management. Refer to Note 30 for more information. 3 Includes net rent received from third parties and net operating expenses. |
UBS AG | |
Disclosure Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Associates, joint ventures and subsidiaries Net gains / (losses) from disposals of subsidiaries 1 37 2 (150) 264 Share of net profits of associates and joint ventures 75 106 169 Impairment charges related to associates (7) Total 105 (44) 433 Financial assets available for sale Net gains / (losses) from disposals 193 346 252 Impairment charges (15) (5) (1) Total 178 342 251 Net income from properties (excluding net gains / (losses) from disposals) 3 23 25 28 Net gains / (losses) from disposals of properties held for sale 0 125 378 Net gains / (losses) from disposals of loans and receivables 15 (3) 26 Income from shared services provided to UBS Group AG or its subsidiaries 385 4 48 0 Other 234 2 192 (5) Total other income 939 685 1,112 1 Includes foreign exchange gains / (losses) reclassified from Other comprehensive income related to disposed foreign subsidiaries and branches. 2 Net gains / (losses) from disposals of subsidiaries and Other include a net gain on sale of subsidiaries and businesses of CHF 153 million in Asset Management. Refer to Note 30 for more information. 3 Includes net rent received from third parties and net operating expenses. 4 The increase in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. |
Personnel expenses
Personnel expenses | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended CHF million 31.12.17 31.12.16 31.12.15 Salaries 1 6,037 6,230 6,282 Variable compensation – performance awards 2 3,090 2,972 3,210 of which: guarantees for new hires 36 30 38 Variable compensation – other 2 248 418 346 of which: replacement payments 3 71 86 76 of which: forfeiture credits (105) (73) (86) of which: severance payments 4 111 217 157 of which: retention plan and other payments 5 171 188 198 Wealth Management Americas: Financial advisor compensation 2,6 3,986 3,697 3,552 Contractors 451 420 365 Social security 798 747 820 Pension and other post-employment benefit plans 7 710 670 808 Other personnel expenses 570 565 600 Total personnel expenses 8 15,889 15,720 15,981 1 Includes role-based allowances. 2 Refer to Note 27 for more information. 3 Replacement payments are payments made to compensate employees for deferred awards forfeited as a result of joining UBS. 4 Includes legally obligated and standard severance payments. 5 Includes interest expense related to Deferred Contingent Capital Plan awards. 6 Financial advisor compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated based on financial advisor productivity, firm tenure, assets and other variables. It also includes expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. 7 Refer to Note 26 for more information. 8 Includes net restructuring expenses of CHF 534 million, CHF 751 million and CHF 460 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. |
UBS AG | |
Disclosure Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended CHF million 31.12.17 31.12.16 31.12.15 Salaries 1 5,323 6,136 6,260 Variable compensation – performance awards 2 2,996 2,963 3,209 of which: guarantees for new hires 36 30 38 Variable compensation – other 2 227 418 346 of which: replacement payments 3 69 86 76 of which: forfeiture credits (104) (73) (86) of which: severance payments 4 93 217 157 of which: retention plan and other payments 5 169 188 198 Wealth Management Americas: Financial advisor compensation 2,6 3,986 3,697 3,552 Contractors 313 420 365 Social security 717 734 817 Pension and other post-employment benefit plans 7 591 669 807 Other personnel expenses 521 554 597 Total personnel expenses 8 14,673 9 15,591 15,954 1 Includes role-based allowances. 2 Refer to Note 27 for more information. 3 Replacement payments are payments made to compensate employees for deferred awards forfeited as a result of joining UBS. 4 Includes legally obligated and standard severance payments. 5 Includes interest expense related to Deferred Contingent Capital Plan awards. 6 Financial advisor compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated based on financial advisor productivity, firm tenure, assets and other variables. It also includes expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. 7 Refer to Note 26 for more information. 8 Includes net restructuring expenses of CHF 362 million, CHF 731 million and CHF 458 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. 9 The decrease in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. |
General and administrative expe
General and administrative expenses | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure General And Administrative Expenses [Line Items] | |
Disclosure Of General And Administrative Expense Explanatory | Note 7 General and administrative expenses For the year ended CHF million 31.12.17 31.12.16 31.12.15 Occupancy 890 935 930 Rent and maintenance of IT and other equipment 560 511 510 Communication and market data services 610 626 611 Administration 1 600 713 718 Marketing and public relations 411 467 486 Travel and entertainment 416 423 460 Professional fees 1,202 1,234 1,354 Outsourcing of IT and other services 1,566 1,637 1,743 Provisions for litigation, regulatory and similar matters 2 420 795 1,087 Other 132 93 208 Total general and administrative expenses 3 6,808 7,434 8,107 1 Administration costs include net expenses related to the UK bank levy of CHF 17 million, CHF 123 million and CHF 166 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. 2017 included a CHF 82 million credit related to prior years. 2 Reflects the net increase in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 20 for more information. Also includes recoveries from third parties of CHF 53 million, CHF 13 million and CHF 10 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. 3 Includes net restructuring expenses of CHF 627 million, CHF 695 million and CHF 761 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. |
UBS AG | |
Disclosure General And Administrative Expenses [Line Items] | |
Disclosure Of General And Administrative Expense Explanatory | Note 7 General and administrative expenses For the year ended CHF million 31.12.17 31.12.16 31.12.15 Occupancy 848 921 928 Rent and maintenance of IT and other equipment 415 511 510 Communication and market data services 534 624 610 Administration 1 3,560 1,069 855 of which: shared services costs charged by UBS Group AG or its subsidiaries 2,974 2 365 223 Marketing and public relations 332 465 484 Travel and entertainment 374 411 456 Professional fees 1,064 1,225 1,351 Outsourcing of IT and other services 1,147 1,592 1,742 Provisions for litigation, regulatory and similar matters 3 420 795 1,087 Other 116 78 195 Total general and administrative expenses 4 8,811 2 7,690 8,219 1 Administration costs include net expenses related to the UK bank levy of CHF 17 million, CHF 123 million and CHF 166 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. 2017 included a CHF 82 million credit related to prior years. 2 The increase in 2017 in shared services costs charged by UBS Group AG or its subsidiaries and the associated decrease in certain direct cost lines were mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. 3 Reflects the net increase in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 20 for more information. Also includes recoveries from third parties of CHF 53 million, CHF 13 million and CHF 10 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. 4 Includes net restructuring expenses of CHF 818 million, CHF 700 million and CHF 760 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Line Items] | |
Disclosure Of Income Tax Explanatory | Note 8 Income taxes For the year ended CHF million 31.12.17 31.12.16 31.12.15 Tax expense / (benefit) Swiss Current 448 459 239 Deferred 37 635 330 Non-Swiss Current 427 353 476 Deferred 3,227 (642) (1,943) Total income tax expense / (benefit) recognized in the income statement 4,139 805 (898) Income tax recognized in the income statement An income tax expense of CHF 4,139 million was recognized for the Group in 2017, which included a net Swiss tax expense of CHF 485 million and a net non-Swi ss tax expense of CHF 3,654 million. The Swiss tax expense included a current tax expense of CHF 448 million related to taxable profits earned by Swiss subsidiaries, against which no losses were available to offset. In addition, it included a deferred tax expense of CHF 37 million, which reflected a net decrease in deferred tax assets (DTAs) previously recognized in relation to tax losses carried forward and temporary differences. The non-Swiss tax expense included a current tax expense of CHF 427 million related to taxable profits earned by non-Swiss subsidiaries and branches, against which no losses were available to offset. In addition, it included a deferred tax expense of CHF 3,227 million, which reflected a net decrease in DTAs previously recognized i n relation to tax losses carried forward and temporary differences and mainly related to the write-down of US DTAs resulting from the reduction in the federal corporate tax rate to 21% from 35% after the enactment of the Tax Cuts and Jobs Act (TCJA) during the fourth quarter of 2017. UBS considers the performance of its businesses and the accuracy of historical forecasts and other factors in evaluating the recoverability of its DTAs, including the remaining tax loss carry-forward period, and its assessment of expected future taxable profits in the forecast period used for recognizing DTAs. Estimating future profitability is inherently subjective and is particularly sensitive to future economic, market and other conditions, which are difficult to predict. For the year ended CHF million 31.12.17 31.12.16 31.12.15 Operating profit / (loss) before tax 5,268 4,090 5,489 of which: Swiss 2,057 2,629 3,753 of which: non-Swiss 3,211 1,461 1,736 Income taxes at Swiss tax rate of 21% 1,106 859 1,153 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 211 74 (73) Tax effects of losses not recognized 168 185 107 Previously unrecognized tax losses now utilized (358) (39) (107) Non-taxable and lower taxed income (301) (353) (297) Non-deductible expenses and additional taxable income 591 950 541 Adjustments related to prior years – current tax (13) 22 29 Adjustments related to prior years – deferred tax 4 2 (48) Change in deferred tax valuation allowances (161) (986) (2,419) Adjustments to deferred tax balances arising from changes in tax rates 2,824 19 190 Other items 67 72 27 Income tax expense / (benefit) 4,139 805 (898) The tax expense of CHF 4,139 million for 2017 was higher than the tax expense of CHF 805 million in 2016, mainly as 2017 included a net write-down of DTAs of CHF 2,865 million resulting from the aforementioned reduction in the US federal corporate tax ra te. The components of operating profit before tax, and the differences between income tax expense reflected in the financial statements and the amounts calculated at the Swiss tax rate, are provided in the table on the previous page and explained below. No n-Swiss tax rates differing from Swiss tax rate To the extent that Group profits or losses arise outside Switzerland, the applicable local tax rate may differ from the Swiss tax rate. This item reflects, for such profits or losses, an adjustment from the t ax expense / benefit that would arise at the Swiss tax rate and the tax expense / benefit that would arise at the applicable local tax rate. If an entity generates a profit, a tax expense arises where the local tax rate is in excess of the Swiss tax rate a nd a tax benefit arises where the local tax rate is below the Swiss tax rate. Conversely, if an entity incurs a loss, a tax benefit arises where the local tax rate is in excess of the Swiss tax rate and a tax expense arises where the local tax rate is less than the Swiss tax rate. Tax effects of losses not recognized This item relates to tax losses of entities arising in the year , which are not recognized as DTAs. Consequently, no tax benefit arises in relation to those losses. Therefore, the tax benef it calculated by applying the local tax rate to those losses as described above is reversed. Previously unrecognized tax losses now utilized This item relates to taxable profits of the year , which are offset by tax losses of previous years , for which no DTAs were previously recorded. Consequently, no current tax or deferred tax expense arises in relation to those taxable profits. Therefore, the tax expense calculated by applying the local rate on those profits is reversed. Non-taxable and lower taxed income This item relates to profits for the year , which are either permanently not taxable or are taxable, but at a lower rate of tax than the lo cal tax rate. It also includes any permanent deductions made for tax purposes , which are not reflected in the accounts. Non-deductible expenses and additional taxable income This item mainly relates to income for the year , which is imputed for tax purposes for an entity, but is not included in its operating profit. In addition, it includes expenses for the year that are permanently non-deductible. Adjustments related to prior years – current tax This item relates to adjustments to current tax expense for prior years, for example, if the tax payable for a year agreed with the tax authorities is expected to differ from the amount previously reflected in the financial statements. Adjustments related to prior years – deferred tax This item relates to adjustments to deferred tax positions recognized in prior years, for example, if a tax loss for a year is ful ly recognized and the amount of the tax loss agreed with the tax authorities is expected to differ from the amount previously recognized as DTAs in the accounts. Change in deferred tax valuation allowances This item includes revaluations of DTAs previously recognized resulting from reassessments of expected future taxable profits. It also includes changes in temporary differences in the y ear, for which deferred tax is not recognized. The amount in the year mainly relates to the upward revaluation of DTAs. Adjustments to deferred tax balances arising from changes in tax rates This item relates to remeasurements of DTAs and liabilities recog nized due to changes in tax rates. These have the effect of changing the future tax saving that is expected from tax losses or deductible tax differences and therefore the amount of DTAs recognized or, alternatively, changing the tax cost of additional tax able income from taxable temporary differences and therefore the deferred tax liability. This item primarily relates to the net write-down of DTAs following a reduction in the US federal corporate tax rate to 21% from 35% after the enactment of the TCJA du ring the fourth quarter of 2017. Other items Other items include other differences between profits or losses at the local tax rate and the actual local tax expense or benefit, including increases in provisions for uncertain positions in relation to the cur rent year and other items. Income tax recognized directly in equity Certain tax expenses and benefits were recognized directly in equity, which included the following items: a net tax benefit of CHF 359 million recognized in other comprehensive income (OCI), which included a tax benefit of CHF 160 million related to cash flow hedges (2016: benefit of CHF 170 million), a tax expense of CHF 7 million related to financial assets classified as available for sale (2016: benefit of CHF 28 million), a tax ben efit of CHF 196 million related to foreign currency translation gains and losses (2016: expense of CHF 84 million), a tax benefit of CHF 11 million related to defined benefit plans (2016: benefit of CHF 52 million) and a tax expense of CHF 1 million (2016: benefit of CHF 5 million) related to own credit a tax benefit of CHF 21 million recognized in share premium (2016: benefit of CHF 28 million) the effects of exchange rate changes on tax assets and liabilities denominated in currencies other than Swiss fra ncs, which are included in foreign currency translation movements in OCI . Deferred tax assets and liabilities The Group has DTAs related to tax loss carry-forwards and other items as shown in the table below. As of 31 December 2017, DTAs of CHF 1,231 milli on (31 December 2016: CHF 1,689 million) were recognized by entities that incurred losses in either the current or preceding year based on projections of future taxable profits. The valuation allowance reflects DTAs that were not recognized because it was not considered probable that future taxable profits will be available to utilize the related tax loss carry-forwards and deductible temporary differences. CHF million 31.12.17 31.12.16 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 16,934 (11,191) 5,743 24,627 (16,430) 8,197 Temporary differences 5,077 (975) 4,102 6,346 (1,388) 4,958 of which: related to compensation and benefits 1,136 (222) 914 1,420 (208) 1,211 of which: related to trading assets 473 (58) 414 935 (118) 817 of which: related to investments in subsidiaries and goodwill 2,374 0 2,374 2,059 0 2,059 of which: other 1,095 (695) 400 1,932 (1,062) 870 Total deferred tax assets 22,011 (12,166) 9,844 30,973 (17,818) 13,155 Deferred tax liabilities Goodwill and intangible assets 18 24 Other 34 20 Total deferred tax liabilities 53 44 1 Less deferred tax liabilities as applicable. As of 31 December 2017, tax loss carry-forwards totaling CHF 46,232 million (31 December 2016: CHF 49,478 millio n), which are not recognized as DTAs, were available to be offset against future taxable profits. These tax losses expire as outlined in the table below. Unrecognized tax loss carry-forwards CHF million 31.12.17 31.12.16 Within 1 year 167 0 From 2 to 5 years 103 66 From 6 to 10 years 3,185 910 From 11 to 20 years 26,015 32,603 No expiry 16,762 15,899 Total 46,232 49,478 In general, Swiss tax losses can be carried forward for seven years, US federal tax losses incurred before 31 December 2017 for 20 years and US federal tax losses incurred after 31 December 2017 and also UK and Jersey tax losses for an unlimited period. The Group recognizes deferred tax liabilities on undistributed earnings of subsidiaries, except to the extent that those earnings are indefinitely invested. As of 31 December 2017, no such earnings were considered indefinitely invested. The Financial Statements have been prepared on the basis that UBS Limited is able to offset part of its taxable profits against losses transferred from UBS AG. During 2016, the UK tax authorities indicated that they do not agree with this tax return filing position, but the authorities have now advised UBS that they accept that a transfer can occur and have also accepted UBS’s proposed methods to cal culate the amount of losses to be transferred as adopted on the tax return filing position. |
UBS AG | |
Income Taxes [Line Items] | |
Disclosure Of Income Tax Explanatory | Note 8 Income taxes For the year ended CHF million 31.12.17 31.12.16 31.12.15 Tax expense / (benefit) Swiss Current 402 429 230 Deferred 21 635 329 Non-Swiss Current 427 350 476 Deferred 3,227 (633) (1,943) Total income tax expense / (benefit) recognized in the income statement 4,077 781 (908) Income tax recognized in the income statement An income tax expense of CHF 4,077 million was recognized for UBS AG in 2 017, which included a net Swiss tax expense of CHF 423 million and a net non-Swiss tax expense of CHF 3,654 million. The Swiss tax expense included a current tax expense of CHF 402 million related to taxable profits earned by Swiss subsidiaries, against wh ich no losses were available to offset. In addition, it included a deferred tax expense of CHF 21 million, which reflected a net decrease in deferred tax assets (DTAs) previously recognized in relation to tax losses carried forward and temporary difference s. The non-Swiss tax expense included a current tax expense of CHF 427 million related to taxable profits earned by non-Swiss subsidiaries and branches, against which no losses were available to offset. In addition, it included a deferred tax expense of CHF 3,227 million, which reflected a net decrease in DTAs previously recognized in relation to tax losses carried forward and temporary differences and mainly related to the write-down of US DTAs resulting from the reduction in the federal corporate tax ra te to 21% from 35% after the enactment of the Tax Cuts and Jobs Act (TCJA) during the fourth quarter of 2017. UBS AG considers the performance of its businesses and the accuracy of historical forecasts and other factors in evaluating the recoverability of its DTAs, including the remaining tax loss carry-forward period, and its assessment of expected future taxable profits in the forecast period used for recognizing DTAs. Estimating future profitability is inherently subjective and is particularly sensitive to future economic, market and other conditions, which are difficult to predict. For the year ended CHF million 31.12.17 31.12.16 31.12.15 Operating profit / (loss) before tax 4,998 4,069 5,407 of which: Swiss 1,878 2,607 3,665 of which: non-Swiss 3,120 1,462 1,742 Income taxes at Swiss tax rate of 21% 1,050 854 1,135 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 224 71 (69) Tax effects of losses not recognized 168 185 107 Previously unrecognized tax losses now utilized (358) (39) (107) Non-taxable and lower taxed income (298) (343) (273) Non-deductible expenses and additional taxable income 573 914 519 Adjustments related to prior years – current tax (13) 22 29 Adjustments related to prior years – deferred tax 5 2 (48) Change in deferred tax valuation allowances (161) (978) (2,419) Adjustments to deferred tax balances arising from changes in tax rates 2,824 19 191 Other items 63 72 26 Income tax expense / (benefit) 4,077 781 (908) The tax expense of CHF 4,077 million for 2017 was higher than the tax expense of CHF 781 million in 2016, mainly as 2017 included a net write-down of DTAs of CHF 2,865 million resulting from the aforementioned reduction in the US federal corporate tax rate. The components of operating profit before tax, and the differences between income tax expense reflected in the financial statements and the amounts calculated at the Swiss ta x rate, are provided in the table on the previous page and explained below. Non-Swiss tax rates differing from Swiss tax rate To the extent that UBS AG profits or losses arise outside Switzerland, the applicable local tax rate may differ from the Swiss tax rate. This item reflects, for such profits or losses, an adjustment from the tax expense / benefit that would arise at the Swiss tax rate and the tax expense / benefit that would arise at the applicable local tax rate. If an entity generates a profit, a t ax expense arises where the local tax rate is in excess of the Swiss tax rate and a tax benefit arises where the local tax rate is below the Swiss tax rate. Conversely, if an entity incurs a loss, a tax benefit arises where the local tax rate is in excess of the Swiss tax rate and a tax expense arises where the local tax rate is less than the Swiss tax rate. Tax effects of losses not recognized This item relates to tax losses of entities arising in the year, which are not recognized as DTAs. Consequently, n o tax benefit arises in relation to those losses. Therefore, the tax benefit calculated by applying the local tax rate to those losses as described above is reversed. Previously unrecognized tax losses now utilized This item relates to taxable profits of the year, which are offset by tax losses of previous years, for which no DTAs were previously recorded. Consequently, no current tax or deferred tax expense arises in relation to those taxable profits. Therefore, the tax expense calculated by applying the local rate on those profits is reversed. Non-taxable and lower taxed income This item relates to profits for the year, which are either permanently not taxable or are taxable, but at a lower rate of tax than the local tax rate. It also includes any permanent deductions made for tax purposes, which are not reflected in the accounts. Non-deductible expenses and additional taxable income This item mainly relates to income for the year, which is imputed for tax purposes for an entity, but is not included in its operating profit. In addition, it includes expenses for the year that are permanently non-deductible. Adjustments related to prior years – current tax This item relates to adjustments to current tax expense for prior years, for example, if the tax payable for a year agreed with the tax authorities is expected to differ from the amount previously reflected in the financial statements. Adjustments related to prior years – deferred tax This item relates to adjustments to deferred tax positions recogniz ed in prior years, for example, if a tax loss for a year is fully recognized and the amount of the tax loss agreed with the tax authorities is expected to differ from the amount previously recognized as DTAs in the accounts. Change in deferred tax valuation allowances This item includes revaluations of DTAs previously recognized resulting from reassessments of expected future taxabl e profits. It also includes changes in temporary differences in the year, for which deferred tax is not recognized. The amount in the year mainly relates to the upward revaluation of DTAs. Adjustments to deferred tax balances arising from changes in tax ra tes This item relates to remeasurements of DTAs and liabilities recognized due to changes in tax rates. These have the effect of changing the future tax saving that is expected from tax losses or deductible tax differences and therefore the amount of DTAs recognized or, alternatively, changing the tax cost of additional taxable income from taxable temporary differences and therefore the deferred tax liability. This item primarily relates to the net write-down of DTAs following a reduction in the US federal corporate tax rate to 21% from 35% after the enactment of the TCJA during the fourth quarter of 2017. Other items Other items include other differences between profits or losses at the local tax rate and the actual local tax expense or benefit, including i ncreases in provisions for uncertain positions in relation to the current year and other items. Income tax recognized directly in equity Certain tax expenses and benefits were recognized directly in equity, which included the following items: a net tax ben efit of CHF 354 million recognized in other comprehensive income (OCI), which included a tax benefit of CHF 160 million related to cash flow hedges (2016: benefit of CHF 170 million), a tax expense of CHF 7 million related to financial assets classified as available for sale (2016: benefit of CHF 28 million), a tax benefit of CHF 196 million related to foreign currency translation gains and losses (2016: expense of CHF 84 million), a tax benefit of CHF 6 million related to defined benefit plans (2016: benef it of CHF 52 million) and a tax expense of CHF 1 million (2016: benefit of CHF 5 million) related to own credit a tax benefit of CHF 16 million recognized in share premium (2016: benefit of CHF 25 million) the effects of exchange rate changes on tax assets and liabilities denominated in currencies other than Swiss francs, which are included in foreign currency translation movements in OCI . Deferred tax assets and liabilities UBS AG has DTAs related to tax loss carry-forwards and other items as shown i n the table below. As of 31 December 2017, DTAs of CHF 1,185 million (31 December 2016: CHF 1,689 million) were recognized by entities that incurred losses in either the current or preceding year based on projections of future taxable profits. The valuatio n allowance reflects DTAs that were not recognized because it was not considered probable that future taxable profits will be available to utilize the related tax loss carry-forwards and deductible temporary differences. CHF million 31.12.17 31.12.16 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 16,934 (11,191) 5,743 24,627 (16,430) 8,197 Temporary differences 5,016 (975) 4,040 6,335 (1,388) 4,947 of which: related to compensation and benefits 1,133 (222) 911 1,419 (208) 1,211 of which: related to trading assets 473 (58) 414 935 (118) 817 of which: related to investments in subsidiaries and goodwill 2,327 0 2,327 2,059 0 2,059 of which: other 1,083 (695) 388 1,922 (1,062) 859 Total deferred tax assets 21,949 (12,166) 9,783 30,962 (17,818) 13,144 Deferred tax liabilities Goodwill and intangible assets 18 24 Other 31 20 Total deferred tax liabilities 49 44 1 Less deferred tax liabilities as applicable. As of 31 December 2017, tax loss carr y-forwards totaling CHF 46,232 million (31 December 2016: CHF 49,477 million), which are not recognized as DTAs, were available to be offset against future taxable profits. These tax losses expire as outlined in the table below. Unrecognized tax loss carry-forwards CHF million 31.12.17 31.12.16 Within 1 year 167 0 From 2 to 5 years 103 66 From 6 to 10 years 3,185 909 From 11 to 20 years 26,015 32,603 No expiry 16,762 15,899 Total 46,232 49,477 In general, Swiss tax losses can be carried forward for seven years, US federal tax losses incurred before 31 December 2017 for 20 years and US federal tax losses incurred after 31 December 2017 and also UK and Jersey tax losses for an unlimited period. UBS AG recognizes deferred tax liabilities on undistri buted earnings of subsidiaries, except to the extent that those earnings are indefinitely invested. As of 31 December 2017, no such earnings were considered indefinitely invested. The Financial Statements have been prepared on the basis that UBS Limited i s able to offset part of its taxable profits against losses transferred from UBS AG. During 2016, the UK tax authorities indicated that they do not agree with this tax return filing position, but the authorities have now advised UBS that they accept that a transfer can occur and have also accepted UBS’s proposed methods to calculate the amount of losses to be transferred as adopted on the tax return filing position. |
Earnings per share and shares o
Earnings per share and shares outstanding | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Earnings Per Share And Shares Outstanding [Line Items] | |
Disclosure of earnings per share and shares outstanding [text block] | Note 9 Earnings per share (EPS) and shares outstanding As of or for the year ended 31.12.17 31.12.16 31.12.15 Basic earnings (CHF million) Net profit / (loss) attributable to shareholders 1,053 3,204 6,203 Diluted earnings (CHF million) Net profit / (loss) attributable to shareholders 1,053 3,204 6,203 Less: (profit) / loss on own equity derivative contracts 0 0 0 Net profit / (loss) attributable to shareholders for diluted EPS 1,053 3,204 6,203 Weighted average shares outstanding Weighted average shares outstanding for basic EPS 3,716,174,261 3,719,764,322 3,690,375,879 Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding 120,540,272 104,244,665 90,898,386 Weighted average shares outstanding for diluted EPS 3,836,714,533 3,824,008,987 3,781,274,265 Earnings per share (CHF) Basic 0.28 0.86 1.68 Diluted 0.27 0.84 1.64 Shares outstanding Shares issued 3,853,096,603 3,850,766,389 3,849,731,535 Treasury shares 132,301,550 138,441,772 98,706,275 Shares outstanding 3,720,795,053 3,712,324,617 3,751,025,260 The table below outlines the potential shares which could dilute basic earnings per share in the future, but were not dilutive for the periods presented. Number of shares 31.12.17 31.12.16 31.12.15 Potentially dilutive instruments Employee share-based compensation awards 24,124,341 46,981,698 67,766,835 Other equity derivative contracts 9,122,496 8,419,122 6,061,848 Total 33,246,837 55,400,820 73,828,683 |
Due from banks and loans
Due from banks and loans | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Due From Banks And Loans [Line Items] | |
Disclosure Of Loans And Advances To Banks And Customers Explanatory | Note 10 Due from banks and loans (held at amortized cost) CHF million 31.12.17 31.12.16 By type of exposure Due from banks, gross 13,741 13,159 Allowance for credit losses (3) (3) Due from banks, net 13,739 13,156 Loans, gross Residential mortgages 144,431 142,197 Commercial mortgages 18,717 19,765 Lombard loans 115,059 104,999 Other loans 1 38,837 36,481 Finance lease receivables 2 1,069 986 Securities 2,113 2,494 Subtotal 320,225 306,921 Allowance for credit losses (658) (596) Loans, net 319,568 306,325 Total due from banks and loans, net 3 333,306 319,481 1 Includes corporate loans. 2 Refer to Note 31 for more information. 3 Refer to Note 25b for more information on collateral and credit enhancements. |
UBS AG | |
Disclosure Due From Banks And Loans [Line Items] | |
Disclosure Of Loans And Advances To Banks And Customers Explanatory | Note 10 Due from banks and loans (held at amortized cost) CHF million 31.12.17 31.12.16 By type of exposure Due from banks, gross 13,695 13,128 Allowance for credit losses (3) (3) Due from banks, net 13,693 13,125 Loans, gross Residential mortgages 144,431 142,197 Commercial mortgages 18,717 19,765 Lombard loans 115,059 104,999 Other loans 1 40,987 37,160 Finance lease receivables 2 1,069 986 Securities 2,113 2,494 Subtotal 322,376 307,601 Allowance for credit losses (658) (596) Loans, net 321,718 307,004 Total due from banks and loans, net 3 335,411 320,129 1 Includes corporate loans. 2 Refer to Note 31 for more information. 3 Refer to Note 25b for more information on collateral and credit enhancements. |
Allowances and provisions for c
Allowances and provisions for credit losses | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Allowances And Provisions For Credit Losses [Line Items] | |
Disclosure Of Allowance For Credit Losses Explanatory | Note 11 Allowances and provisions for credit losses CHF million By movement Specific allowances Collective allowances Total allowances – due from banks and loans Allowances – other assets Provisions 1 Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 587 12 599 0 54 653 727 Write-offs / usage of provisions (115) (2) (117) 0 0 (117) (145) Recoveries 19 1 19 0 0 20 22 Increase / (decrease) recognized in the income statement 145 3 148 0 (21) 128 37 Foreign currency translation (7) 0 (7) 0 0 (7) 0 Other 19 0 19 18 0 37 12 Balance at the end of the year 648 13 661 19 33 713 653 1 Represents provisions for loan commitments and guarantees. Refer to Note 20 for more information. Refer to the “Treasury management” section of this report for the maximum irrevocable amount of loan commitments and guarantees. By balance sheet line Specific allowances Collective allowances Total allowances Allowances – other assets Provisions 1 Total 31.12.17 Total 31.12.16 Due from banks 3 0 3 3 3 Loans 645 13 658 658 596 Other assets 19 19 0 Provisions 33 33 54 Balance at the end of the year 648 13 661 19 33 713 653 1 Represents provisions for loan commitments and guarantees. |
UBS AG | |
Disclosure Allowances And Provisions For Credit Losses [Line Items] | |
Disclosure Of Allowance For Credit Losses Explanatory | Note 11 Allowances and provisions for credit losses CHF million By movement Specific allowances Collective allowances Total allowances – due from banks and loans Allowances – other assets Provisions 1 Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 587 12 599 0 54 653 727 Write-offs / usage of provisions (115) (2) (117) 0 0 (117) (145) Recoveries 19 1 19 0 0 20 22 Increase / (decrease) recognized in the income statement 145 3 148 0 (21) 128 37 Foreign currency translation (7) 0 (7) 0 0 (7) 0 Other 19 0 19 18 0 37 12 Balance at the end of the year 648 13 661 19 33 713 653 1 Represents provisions for loan commitments and guarantees. Refer to Note 20 for more information. Refer to the “Treasury management” section of this report for the maximum irrevocable amount of loan commitments and guarantees. By balance sheet line Specific allowances Collective allowances Total allowances Allowances – other assets Provisions 1 Total 31.12.17 Total 31.12.16 Due from banks 3 0 3 3 3 Loans 645 13 658 658 596 Other assets 19 19 0 Provisions 33 33 54 Balance at the end of the year 648 13 661 19 33 713 653 1 Represents provisions for loan commitments and guarantees. |
Derivative instruments
Derivative instruments | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Derivative Instruments [Line Items] | |
Disclosure Of Derivative Financial Instruments Explanatory | Note 12 Derivative instruments and hedge accounting Derivatives: overview A derivative is a financial instrument for which the value is derived from one or more variables ( underlyings ). Underlyings may be indices, foreign currency exchange or interest rates, or the value of shares, commodities, bonds or other financial instruments. A derivative commonly requires little or no initial net investment by either counterparty to the trade. The majority of derivative contracts are negotiated with respect to notional amounts, tenor, price and settlement mechanisms, as is customary with other financial instruments. Over-the-counter (OT C) derivative contracts are usually traded under a standardized International Swaps and Derivatives Association (ISDA) master agreement between UBS and its counterparties. Terms are negotiated directly with counterparties and the contracts have industry-st andard settlement mechanisms prescribed by ISDA. Recent rules, introduced by regulators in various jurisdictions, require or will soon require the payment and collection of initial and variation margin on certain OTC derivative contracts , which may have a bearing on their price and other relevant terms . The industry continues to promote the use of central counterparties (CCPs) to clear OTC trades. The trend toward CCP clearing and settlement will generally facilitate the reduction of systemic credit exposur es. Other derivative contracts are standardized in terms of their amounts and settlement dates, and are bought and sold on regulated exchanges. These are commonly referred to as exchange-traded derivatives (ETD) contracts. Exchanges offer the benefits of p ricing transparency, standardized daily settlement of changes in value and consequently reduced credit risk. For presentation purposes, the Group’s derivative contracts are subject to IFRS netting provisions. Derivative instruments are measured at fair val ue and generally classified as Positive replacement values and Negative replacement values on the balance sheet. However, ETD that are economically settled on a daily basis and OTC derivatives that are either legally settled or in substance net settled on a daily basis are classified as Cash collateral receivables on derivative instruments or Cash collateral payables on derivative instruments . Changes in the replacement values of derivatives are recorded in Net trading income, except for interest on derivat ives designated as hedging instruments in effective hedge accounting relationships and forward points on certain short duration foreign exchange contracts that are recorded in Net interest income . Refer to Note 1 a item s 3j and 3 k for more information Refer to Note 24 for more information on the values of positive and negative replacement values after consideration of netting potential allowed under enforceable netting arrangements The Group uses various derivative instr uments for both trading and hedging purposes. Derivative product types as well as valuation principles and techniques applied by the Group are described in Note 22 . Positive replacement values represent the estimated amount the Group would receive if the derivative contract were sold on the balance sheet date. Negative replacement values indicate the estimated amount the Group would pay to transfer its obligations in respect of the underlying contract were it required or entitled to do so on the ba lance sheet date. Derivatives embedded in other financial instruments are not included in the “Derivative instruments” table within this Note. Bifurcated embedded derivatives are presented on the same balance sheet line as the host contract. In cases where UBS applies the fair value option to hybrid instruments, bifurcation of an embedded derivative component is not required and as such this component is also not included in the “Derivative instruments” table. Refer to Notes 18 and 22 for more information Risks of derivative instruments Derivative instruments are transacted in many trading portfolios, which generally include several types of instruments, not just derivatives. The market risk of derivatives is predominantly managed and controlled as an integral part of the market risk of these portfolios. The Group’s approach to market risk is described in the audited portions of “Market risk” in the “Risk management and control” section of this report. Derivative instruments are also t ransacted with many different counterparties, most of whom are also counterparties for other types of business. The credit risk of derivatives is managed and controlled in the context of the Group’s overall credit exposure to its counterparties. The Group’ s approach to credit risk is described in the audited portions of “Credit risk” in the “Risk management and control” section of this report. It should be noted that, although the positive replacement values shown on the balance sheet can be an important co mponent of the Group’s credit exposure, the positive replacement values related to a respective counterparty are rarely an adequate reflection of the Group’s credit exposure in its derivatives business with that counterparty. This is generally the case bec ause, on the one hand, replacement values can increase over time (potential future exposure) , while on the other hand, exposure may be mitigated by entering into master netting agreements and bilateral collateral arrangements. Both the exposure measures us ed internally by the Group to control credit risk and the capital requirements imposed by regulators reflect these additional factors. Refer to Note 24 for more information on the values of positive and negative replacement values after consid eration of netting potential allowed under enforceable netting arrangements Derivative instruments ¹ 31.12.17 31.12.16 CHF billion PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 6 0.1 22.1 0.3 8.2 2,321.1 0.1 29.6 0.1 21.9 2,242.8 Swaps 35.4 539.2 28.2 453.7 7,530.2 45.2 599.3 38.3 552.6 7,064.2 Options 8.5 558.1 9.8 547.2 12.6 478.1 13.9 480.6 Exchange-traded contracts Futures 455.6 326.4 Options 0.0 22.7 0.0 34.4 155.4 0.0 45.4 0.0 4.5 96.2 Agency transactions 7 0.0 0.0 0.2 0.2 Total 44.0 1,142.1 38.4 1,043.6 10,462.2 58.0 1,152.4 52.5 1,059.6 9,729.6 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 2.7 85.2 3.0 94.4 1.2 3.7 116.9 3.9 135.2 Total return swaps 0.2 2.2 0.8 3.9 0.2 3.3 0.9 4.3 Options and warrants 0.0 4.3 0.0 0.1 0.0 2.9 0.0 0.1 Total 2.8 91.8 3.8 98.3 1.2 3.9 123.1 4.8 139.6 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 17.2 681.4 17.8 691.6 21.8 715.6 19.0 650.9 Interest and currency swaps 23.8 1,275.5 21.8 1,098.4 43.2 1,220.8 42.0 1,115.0 Options 6.1 427.0 5.8 397.6 11.1 530.3 11.0 513.7 Exchange-traded contracts Futures 0.4 6.1 Options 0.0 4.7 0.1 5.6 0.0 2.9 0.1 6.0 Agency transactions 7 0.0 0.0 0.0 0.0 Total 47.1 2,388.5 45.5 2,193.3 0.4 76.1 2,469.6 72.1 2,285.6 6.1 Equity / index contracts Over-the-counter (OTC) contracts Forward contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swaps 3.4 71.2 5.5 100.4 3.6 76.5 4.8 69.0 Options 5.8 76.6 8.2 125.0 3.7 49.6 5.8 92.8 Exchange-traded contracts Futures 51.9 33.0 Options 6.9 232.6 6.9 261.2 31.0 3.8 142.5 4.6 155.8 21.6 Agency transactions 7 6.2 6.1 6.9 6.9 Total 22.2 380.3 26.7 486.6 82.9 18.0 268.6 22.1 317.6 54.5 Derivative instruments (continued) 1 31.12.17 31.12.16 CHF billion PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 2.9 0.1 3.8 0.3 4.8 0.1 2.7 Swaps 0.2 8.5 0.4 12.8 0.4 10.9 0.5 13.4 Options 0.3 11.3 0.1 7.9 0.5 14.1 0.2 9.9 Exchange-traded contracts Futures 8.2 9.1 Forward contracts 0.2 9.4 0.0 7.9 0.1 5.9 0.0 4.6 Options 0.0 1.0 0.1 4.4 0.3 0.0 3.2 0.1 5.3 0.0 Agency transactions 7 0.9 0.9 0.9 0.9 Total 1.7 33.1 1.6 36.9 8.4 2.3 39.0 2.0 35.9 9.1 Unsettled purchases of non-derivative financial instruments 8 0.1 12.0 0.1 10.9 0.1 18.4 0.1 9.7 Unsettled sales of non-derivative financial instruments 8 0.1 14.8 0.1 8.7 0.1 13.0 0.2 11.5 Total derivative instruments, based on IFRS netting 9 118.2 4,062.6 116.1 3,878.3 10,555.0 158.4 4,084.0 153.8 3,859.6 9,799.3 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. 2 PRV: positive replacement value. 3 In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. 4 NRV: negative replacement value. 5 Other notional values relate to derivatives that are cleared through either a central clearing counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for the periods presented. 6 Negative replacement values as of 31 December 2017 include CHF 0.0 billion related to derivative loan commitments (31 December 2016: CHF 0.1 billion). No notional amounts related to these replacement values are included in the table. The maximum irrevocable amount related to these commitments was CHF 5.3 billion as of 31 December 2017 (31 December 2016: CHF 14.3 billion). 7 Notional values of exchange-traded agency transactions and OTC-cleared transactions entered into on behalf of clients are not disclosed due to their significantly different risk profile. 8 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. 9 Refer to Note 24 for more information on netting arrangements. The notional amount of a derivative is generally the quantity of the underlying instrument on which the derivative contract is based and is the reference against which changes in the value of the derivative are measured. Notiona l values in themselves are generally not a direct indication of the values that are exchanged between parties, and are therefore not a direct measure of risk or financial exposure but are viewed as an indication of the scale of the different types of deriv atives entered into by the Group. On a notional value basis, approximately 54 % of OTC interest rate contracts held as of 31 December 2017 ( 31 December 2016 : 5 2 %) mature within one year, 28 % ( 31 December 2016 : 29 %) within one to five years and 18 % ( 31 December 2016 : 19 %) after five years. Notional values of interest rate contracts cleared with a clearing house that qualify for IFRS balance sheet netting or are legally settled on a daily basis are presented under Other notional values and are categorized into maturity buckets on the basis o f contractual maturities of the cleared underlying derivative contracts. Derivatives transacted for trading purposes Most of the Group’s derivative transactions relate to sales and trading activities. Sales activities include the structuring and marketing of derivative products to customers to enable them to take, transfer, modify or reduce current or expected risks. Trading activities include market-making to directly support the facilitation and execution of client activity. Market-making involves quotin g bid and offer prices to other market participants with the intention of generating revenues based on spread and volume. Credit derivatives UBS is an active dealer in the fixed income market, including credit default swaps (CDS) and related products, with respect to a large number of issuers’ securities. The primary objectives of these activities are market-making, primarily on behalf of clients, and ongoing hedging of trading book exposures. Market-making activity, which is undertaken within the Investment Bank, consists of buying and selling single-name CDS, index CD S, loan CDS and related referenced cash instruments to facilitate client trading activity. UBS also actively utilizes CDS to economically hedge specific counterparty credit risks in its accrual and traded loan portfolio s (including off-balance sheet loan c ommitments) with the aim of reducing concentrations in individual names, sectors or specific portfolios. In addition, UBS actively utilizes CDS to economically hedge specific counterparty credit risks in its OTC derivative portfolios, including financial i nstruments that are designated at fair value through profit or loss. The tables below provide more information on credit protection bought and sold, including replacement and notional value information by instrument type and counterparty type. The value o f protection bought and sold is not, in isolation, a measure of UBS’s credit risk. Counterparty relationships are viewed in terms of the total outstanding credit risk, which relates to other instruments in addition to CDS, and in connection with collateral arrangements in place. On a notional value basis, approximately 23% of credit protection bought and sold as of 31 December 2017 matures within one year ( 31 December 2016 : 29%), approximately 65% within one to five years ( 31 December 2016 : 61%) and approximately 12% after five ye ars ( 31 December 2016 : 10%). Credit derivatives by type of instrument Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 1.1 61.3 1.1 0.6 55.7 Multi-name index-linked credit default swaps 0.2 0.9 31.8 0.9 0.2 31.9 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.0 Total rate of return swaps 0.0 0.8 4.4 0.1 0.0 1.7 Options and warrants 0.0 0.0 4.3 0.0 0.0 0.1 Total 31 December 2017 0.8 2.9 101.9 2.0 0.9 89.4 of which: credit derivatives related to economic hedges 0.7 2.4 81.5 1.6 0.8 70.5 of which: credit derivatives related to market-making 0.0 0.5 20.3 0.5 0.0 18.9 Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 1.6 1.3 91.4 1.3 1.4 81.3 Multi-name index-linked credit default swaps 0.2 0.8 38.4 0.5 0.4 38.3 Multi-name other credit default swaps 0.0 0.0 1.5 0.0 0.0 1.1 Total rate of return swaps 0.1 0.7 5.5 0.0 0.2 2.1 Options and warrants 0.0 0.0 2.9 0.0 0.0 0.1 Total 31 December 2016 2.0 2.8 139.7 1.9 2.0 122.9 of which: credit derivatives related to economic hedges 1.4 2.4 111.7 1.5 1.5 96.2 of which: credit derivatives related to market-making 0.5 0.3 28.0 0.4 0.5 26.7 Credit derivatives by counterparty Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.2 16.2 0.2 0.1 12.3 Banks 0.3 0.7 37.0 0.5 0.4 31.6 Central clearing counterparties 0.1 1.1 41.5 1.0 0.1 40.6 Other 0.3 0.9 7.2 0.3 0.2 4.9 Total 31 December 2017 0.8 2.9 101.9 2.0 0.9 89.4 Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.4 0.2 20.9 0.2 0.3 16.1 Banks 0.9 1.0 60.8 0.8 1.0 52.6 Central clearing counterparties 0.3 0.9 47.2 0.8 0.4 47.1 Other 0.4 0.8 10.9 0.2 0.3 7.1 Total 31 December 2016 2.0 2.8 139.7 1.9 2.0 122.9 UBS ’ s CDS trades are documented using industry standard forms of documentation or equivalent terms documented in a bespoke agreement. The agreements that govern CDS generally do not contain recourse provisions that would enable UBS to recover from third parties any amounts pai d out by UBS. The types of credit events that would require UBS to perform under a CDS contract are subject to agreement between the parties at the time of the transaction. However, nearly all transactions are traded with reference to credit events that ar e applicable under certain market conventions based on the type of reference entity to which the transaction relates. Applicable credit events according to market conventions include bankruptcy, failure to pay, restructuring, obligation acceleration and re pudiation / moratorium. Contingent collateral features of derivative liabilities Certain derivative instruments contain contingent collateral or termination features triggered upon a downgrade of the published credit rating s of the Group in the normal cour se of business. Based on UBS ’ s credit ratings as of 31 December 2017 , CHF 0.1 billion, CHF 0.3 billion and CHF 1.2 billion would have been required for contractual obligations related to OTC derivatives in the event of a one-notch, two-notch and three-notch reduct ion in long-term credit ratings, respectively. In evaluating UBS ’ s liquidity requirements, UBS considers additional collateral or termination payments that would be required in the event of a reduction in UBS ’ s long-term credit ratings, and a corresponding reduction in UBS ’s short-term ratings. |
UBS AG | |
Disclosure of Derivative Instruments [Line Items] | |
Disclosure Of Derivative Financial Instruments Explanatory | Note 12 Derivative instruments and hedge accounting Derivatives: overview A derivative is a financial instrument for which the value is derived from one or more variables ( underlyings ). Underlyings may be indices, foreign currency exchange or interest rates, or the value of shares, commodities, bonds or other financial instruments. A derivative commonly requires little or no initial net investment by either counterparty to the trade. The majority of derivative contracts are negotiated with respect to notional amounts, tenor, price and settlement mechanisms, as is customary with other financial instruments. Over-the-counter (OT C) derivative contracts are usually traded under a standardized International Swaps and Derivatives Association (ISDA) master agreement between UBS and its counterparties. Terms are negotiated directly with counterparties and the contracts have industry-st andard settlement mechanisms prescribed by ISDA. Recent rules, introduced by regulators in various jurisdictions, require or will soon require the payment and collection of initial and variation margin on certain OTC derivative contracts , which may have a bearing on their price and other relevant terms . The industry continues to promote the use of central counterparties (CCPs) to clear OTC trades. The trend toward CCP clearing and settlement will generally facilitate the reduction of systemic credit exposur es. Other derivative contracts are standardized in terms of their amounts and settlement dates, and are bought and sold on regulated exchanges. These are commonly referred to as exchange-traded derivatives (ETD) contracts. Exchanges offer the benefits of p ricing transparency, standardized daily settlement of changes in value and consequently reduced credit risk. For presentation purposes, the Group’s derivative contracts are subject to IFRS netting provisions. Derivative instruments are measured at fair val ue and generally classified as Positive replacement values and Negative replacement values on the balance sheet. However, ETD that are economically settled on a daily basis and OTC derivatives that are either legally settled or in substance net settled on a daily basis are classified as Cash collateral receivables on derivative instruments or Cash collateral payables on derivative instruments . Changes in the replacement values of derivatives are recorded in Net trading income, except for interest on derivat ives designated as hedging instruments in effective hedge accounting relationships and forward points on certain short duration foreign exchange contracts that are recorded in Net interest income . Refer to Note 1 a item s 3j and 3 k for more information Refer to Note 24 for more information on the values of positive and negative replacement values after consideration of netting potential allowed under enforceable netting arrangements The Group uses various derivative instr uments for both trading and hedging purposes. Derivative product types as well as valuation principles and techniques applied by the Group are described in Note 22 . Positive replacement values represent the estimated amount the Group would receive if the derivative contract were sold on the balance sheet date. Negative replacement values indicate the estimated amount the Group would pay to transfer its obligations in respect of the underlying contract were it required or entitled to do so on the ba lance sheet date. Derivatives embedded in other financial instruments are not included in the “Derivative instruments” table within this Note. Bifurcated embedded derivatives are presented on the same balance sheet line as the host contract. In cases where UBS applies the fair value option to hybrid instruments, bifurcation of an embedded derivative component is not required and as such this component is also not included in the “Derivative instruments” table. Refer to Notes 18 and 22 for more information Risks of derivative instruments Derivative instruments are transacted in many trading portfolios, which generally include several types of instruments, not just derivatives. The market risk of derivatives is predominantly managed and controlled as an integral part of the market risk of these portfolios. The Group’s approach to market risk is described in the audited portions of “Market risk” in the “Risk management and control” section of this report. Derivative instruments are also t ransacted with many different counterparties, most of whom are also counterparties for other types of business. The credit risk of derivatives is managed and controlled in the context of the Group’s overall credit exposure to its counterparties. The Group’ s approach to credit risk is described in the audited portions of “Credit risk” in the “Risk management and control” section of this report. It should be noted that, although the positive replacement values shown on the balance sheet can be an important co mponent of the Group’s credit exposure, the positive replacement values related to a respective counterparty are rarely an adequate reflection of the Group’s credit exposure in its derivatives business with that counterparty. This is generally the case bec ause, on the one hand, replacement values can increase over time (potential future exposure) , while on the other hand, exposure may be mitigated by entering into master netting agreements and bilateral collateral arrangements. Both the exposure measures us ed internally by the Group to control credit risk and the capital requirements imposed by regulators reflect these additional factors. Derivative instruments ¹ 31.12.17 31.12.16 CHF billion PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 6 0.1 22.1 0.3 8.2 2,321.1 0.1 29.6 0.1 21.9 2,242.8 Swaps 35.4 539.2 28.2 453.7 7,530.2 45.2 599.3 38.3 552.6 7,064.2 Options 8.5 558.1 9.8 547.2 12.6 478.1 13.9 480.6 Exchange-traded contracts Futures 455.6 326.4 Options 0.0 22.7 0.0 34.4 155.4 0.0 45.4 0.0 4.5 96.2 Agency transactions 7 0.0 0.0 0.2 0.2 Total 44.0 1,142.1 38.4 1,043.6 10,462.2 58.0 1,152.4 52.5 1,059.6 9,729.6 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 2.7 85.2 3.0 94.4 1.2 3.7 116.9 3.9 135.2 Total return swaps 0.2 2.2 0.8 3.9 0.2 3.3 0.9 4.3 Options and warrants 0.0 4.3 0.0 0.1 0.0 2.9 0.0 0.1 Total 2.8 91.8 3.8 98.3 1.2 3.9 123.1 4.8 139.6 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 17.2 681.4 17.8 691.6 21.8 715.6 19.0 650.9 Interest and currency swaps 23.8 1,275.5 21.8 1,098.4 43.2 1,220.8 42.0 1,115.0 Options 6.1 427.0 5.8 397.6 11.1 530.3 11.0 513.7 Exchange-traded contracts Futures 0.4 6.1 Options 0.0 4.7 0.1 5.6 0.0 2.9 0.1 6.0 Agency transactions 7 0.0 0.0 0.0 0.0 Total 47.1 2,388.5 45.5 2,193.3 0.4 76.1 2,469.6 72.1 2,285.6 6.1 Equity / index contracts Over-the-counter (OTC) contracts Forward contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swaps 3.4 71.2 5.5 100.4 3.6 76.5 4.8 69.0 Options 5.8 76.6 8.2 125.0 3.7 49.6 5.8 92.8 Exchange-traded contracts Futures 51.9 33.0 Options 6.9 232.6 6.9 261.2 31.0 3.8 142.5 4.6 155.8 21.6 Agency transactions 7 6.2 6.1 6.9 6.9 Total 22.2 380.3 26.7 486.6 82.9 18.0 268.6 22.1 317.6 54.5 Derivative instruments (continued) 1 31.12.17 31.12.16 CHF billion PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 2.9 0.1 3.8 0.3 4.8 0.1 2.7 Swaps 0.2 8.5 0.4 12.8 0.4 10.9 0.5 13.4 Options 0.3 11.3 0.1 7.9 0.5 14.1 0.2 9.9 Exchange-traded contracts Futures 8.2 9.1 Forward contracts 0.2 9.4 0.0 7.9 0.1 5.9 0.0 4.6 Options 0.0 1.0 0.1 4.4 0.3 0.0 3.2 0.1 5.3 0.0 Agency transactions 7 0.9 0.9 0.9 0.9 Total 1.7 33.1 1.6 36.9 8.4 2.3 39.0 2.0 35.9 9.1 Unsettled purchases of non-derivative financial instruments 8 0.1 12.0 0.1 10.9 0.1 18.4 0.1 9.7 Unsettled sales of non-derivative financial instruments 8 0.1 14.8 0.1 8.7 0.1 13.0 0.2 11.5 Total derivative instruments, based on IFRS netting 9 118.2 4,062.6 116.1 3,878.3 10,555.0 158.4 4,084.0 153.8 3,859.6 9,799.3 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. 2 PRV: positive replacement value. 3 In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. 4 NRV: negative replacement value. 5 Other notional values relate to derivatives that are cleared through either a central clearing counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for the periods presented. 6 Negative replacement values as of 31 December 2017 include CHF 0.0 billion related to derivative loan commitments (31 December 2016: CHF 0.1 billion). No notional amounts related to these replacement values are included in the table. The maximum irrevocable amount related to these commitments was CHF 5.3 billion as of 31 December 2017 (31 December 2016: CHF 14.3 billion). 7 Notional values of exchange-traded agency transactions and OTC-cleared transactions entered into on behalf of clients are not disclosed due to their significantly different risk profile. 8 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. 9 Refer to Note 24 for more information on netting arrangements. The notional amount of a derivative is generally the quantity of the underlying instrument on which the derivative contract is based and is the reference against which changes in the value of the derivative are measured. Notiona l values in themselves are generally not a direct indication of the values that are exchanged between parties, and are therefore not a direct measure of risk or financial exposure but are viewed as an indication of the scale of the different types of deriv atives entered into by the Group. On a notional value basis, approximately 54 % of OTC interest rate contracts held as of 31 December 2017 ( 31 December 2016 : 5 2 %) mature within one year, 28 % ( 31 December 2016 : 29 %) within one to five years and 18 % ( 31 December 2016 : 19 %) after five years. Notional values of interest rate contracts cleared with a clearing house that qualify for IFRS balance sheet netting or are legally settled on a daily basis are presented under Other notional values and are categorized into maturity buckets on the basis o f contractual maturities of the cleared underlying derivative contracts. Derivatives transacted for trading purposes Most of the Group’s derivative transactions relate to sales and trading activities. Sales activities include the structuring and marketing of derivative products to customers to enable them to take, transfer, modify or reduce current or expected risks. Trading activities include market-making to directly support the facilitation and execution of client activity. Market-making involves quotin g bid and offer prices to other market participants with the intention of generating revenues based on spread and volume. Credit derivatives UBS is an active dealer in the fixed income market, including credit default swaps (CDS) and related products, with respect to a large number of issuers’ securities. The primary objectives of these activities are market-making, primarily on behalf of clients, and ongoing hedging of trading book exposures. Market-making activity, which is undertaken within the Investment Bank, consists of buying and selling single-name CDS, index CD S, loan CDS and related referenced cash instruments to facilitate client trading activity. UBS also actively utilizes CDS to economically hedge specific counterparty credit risks in its accrual and traded loan portfolio s (including off-balance sheet loan c ommitments) with the aim of reducing concentrations in individual names, sectors or specific portfolios. In addition, UBS actively utilizes CDS to economically hedge specific counterparty credit risks in its OTC derivative portfolios, including financial i nstruments that are designated at fair value through profit or loss. The tables below provide more information on credit protection bought and sold, including replacement and notional value information by instrument type and counterparty type. The value o f protection bought and sold is not, in isolation, a measure of UBS’s credit risk. Counterparty relationships are viewed in terms of the total outstanding credit risk, which relates to other instruments in addition to CDS, and in connection with collateral arrangements in place. On a notional value basis, approximately 23% of credit protection bought and sold as of 31 December 2017 matures within one year ( 31 December 2016 : 29%), approximately 65% within one to five years ( 31 December 2016 : 61%) and approximately 12% after five ye ars ( 31 December 2016 : 10%). Credit derivatives by type of instrument Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 1.1 61.3 1.1 0.6 55.7 Multi-name index-linked credit default swaps 0.2 0.9 31.8 0.9 0.2 31.9 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.0 Total rate of return swaps 0.0 0.8 4.4 0.1 0.0 1.7 Options and warrants 0.0 0.0 4.3 0.0 0.0 0.1 Total 31 December 2017 0.8 2.9 101.9 2.0 0.9 89.4 of which: credit derivatives related to economic hedges 0.7 2.4 81.5 1.6 0.8 70.5 of which: credit derivatives related to market-making 0.0 0.5 20.3 0.5 0.0 18.9 Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 1.6 1.3 91.4 1.3 1.4 81.3 Multi-name index-linked credit default swaps 0.2 0.8 38.4 0.5 0.4 38.3 Multi-name other credit default swaps 0.0 0.0 1.5 0.0 0.0 1.1 Total rate of return swaps 0.1 0.7 5.5 0.0 0.2 2.1 Options and warrants 0.0 0.0 2.9 0.0 0.0 0.1 Total 31 December 2016 2.0 2.8 139.7 1.9 2.0 122.9 of which: credit derivatives related to economic hedges 1.4 2.4 111.7 1.5 1.5 96.2 of which: credit derivatives related to market-making 0.5 0.3 28.0 0.4 0.5 26.7 Credit derivatives by counterparty Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.2 16.2 0.2 0.1 12.3 Banks 0.3 0.7 37.0 0.5 0.4 31.6 Central clearing counterparties 0.1 1.1 41.5 1.0 0.1 40.6 Other 0.3 0.9 7.2 0.3 0.2 4.9 Total 31 December 2017 0.8 2.9 101.9 2.0 0.9 89.4 Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.4 0.2 20.9 0.2 0.3 16.1 Banks 0.9 1.0 60.8 0.8 1.0 52.6 Central clearing counterparties 0.3 0.9 47.2 0.8 0.4 47.1 Other 0.4 0.8 10.9 0.2 0.3 7.1 Total 31 December 2016 2.0 2.8 139.7 1.9 2.0 122.9 UBS ’ s CDS trades are documented using industry standard forms of documentation or equivalent terms documented in a bespoke agreement. The agreements that govern CDS generally do not contain recourse provisions that would enable UBS to recover from third parties any amounts pai d out by UBS. The types of credit events that would require UBS to perform under a CDS contract are subject to agreement between the parties at the time of the transaction. However, nearly all transactions are traded with reference to credit events that ar e applicable under certain market conventions based on the type of reference entity to which the transaction relates. Applicable credit events according to market conventions include bankruptcy, failure to pay, restructuring, obligation acceleration and re pudiation / moratorium. Contingent collateral features of derivative liabilities Certain derivative instruments contain contingent collateral or termination features triggered upon a downgrade of the published credit rating s of the Group in the normal cour se of business. Based on UBS ’ s credit ratings as of 31 December 2017 , CHF 0.1 billion, CHF 0.3 billion and CHF 1.2 billion would have been required for contractual obligations related to OTC derivatives in the event of a one-notch, two-notch and three-notch reduct ion in long-term credit ratings, respectively. In evaluating UBS ’ s liquidity requirements, UBS considers additional collateral or termination payments that would be required in the event of a reduction in UBS ’ s long-term credit ratings, and a corresponding reduction in UBS ’s short-term ratings. |
Hedge accounting
Hedge accounting | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Hedge Accounting [Line Items] | |
Disclosure Of General Hedge Accounting Explanatory | Derivatives transacted for hedging purposes The Group enters into derivative transactions for the purposes of hedging risks inherent in assets, liabilities and forecast transactions. The accounting treatment of hedg e transactions varies according to the nature of the instrument hedged and whether the hedge qualifies as such for accounting purposes. Derivative transactions that qualify and are designated as hedges for accounting purposes are described under the corres ponding headings in this Note (fair value hedges, cash flow hedges and hedges of net investments in foreign operations). The Group has also executed various hedging strategies utilizing derivatives for which hedge accounting has not been applied. These ec onomic hedges include interest rate swaps and other interest rate derivatives (e.g., futures) for day-to-day economic interest rate risk management purposes. In addition, the Group has used equity futures, options and, to a lesser extent, swaps in a variet y of equity trading strategies to offset underlying equity and equity volatility exposure. The Group has also entered into CDS that provide economic hedges for credit risk exposures (refer to “Credit derivatives” in this Note ). Fair value hedges: interest rate risk related to debt instruments The Group’s fair value hedges principally consist of interest rate swaps that are used to protect against changes in the fair value of fixed-rate debt instruments, such as non-structured fixed-rate bonds, covered bonds and subordinated debt, due to movements in market interest rates. T he fair values of outstanding interest rate derivatives designated as fair value hedges were assets of CHF 47 million and liabilities of CHF 2 million as of 31 December 2017 and assets of CHF 152 million and liabilities of CHF 1 million as of 31 December 2 016. Fair value hedges of interest rate risk For the year ended CHF million 31.12.17 31.12.16 31.12.15 Gains / (losses) on hedging instruments (20) 140 554 Gains / (losses) on hedged items attributable to the hedged risk 1 (144) (552) Net gains / (losses) representing ineffective portions of fair value hedges (19) (4) 2 Fair value hedges: portfolio inte rest rate risk related to loans The Group also applies fair value hedge accounting to mortgage loan portfolio interest rate risk. The change in fair value of the hedged items is recorded separately from the hedged item and is included within Other assets o n the balance sheet. The fair values of outstanding interest rate derivatives designated for the se hedges as of 31 December 2017 were liabilities of CHF 32 million (31 December 201 6 : liabilities of CHF 44 million). Fair value hedges of portfolio interest rate risk For the year ended CHF million 31.12.17 31.12.16 31.12.15 Gains / (losses) on hedging instruments (11) (128) (176) Gains / (losses) on hedged items attributable to the hedged risk 4 116 147 Net gains / (losses) representing ineffective portions of fair value hedges (7) (12) (29) Cash flow hedges of forecast transactions The Group is exposed to variability in future interest cash flows on non-trading financial assets and liabilities that bear interest at variable rates or are expected to be refinanced or reinvested in the future. The amounts and timing of future cash flows, representi ng both principal and interest flows, are projected on the basis of contractual terms and other relevant factors, including estimates of prepayments and defaults. The aggregate principal balances and interest cash flows across all portfolios over time form the basis for identifying the non-trading interest rate risk of the Group, which is hedged with interest rate swaps, the maximum maturity of which is 11 years . The table on the following page shows forecast principal balances on which expected interest ca sh flows arise as of 31 December 2017 . Amounts shown represent, by time bucket, average assets and liabilities subject to forecast cash flows designated as hedged items in cash flow hedge accounting relationships. As of 31 December 2017, the fair values of outstanding derivatives designated as cash flow hedges of forecast transactions were CHF 30 million assets and CHF 2 million liabilities (31 Decem ber 2016 : CHF 68 million assets and CHF 5 million liabilities). Other comprehensive income from cash flow h edges, net of tax was negative CHF 621 million , compared with negative CHF 66 6 million in 2016 and negative CHF 509 million in 2015. This result included the reclassification of a pre-tax net gain from Other comprehensive income to the income statement o f CHF 826 million in 2017, compared with a pre-tax net gain of CHF 1,082 million in 2016 and a pre-tax net gain of CHF 1,182 million in 2015, partly offset by a pre-tax net fair value gain associated with the effective portion of derivative instruments des ignated as cash flow hedges recognized in comprehensive income of CHF 45 million in 2017, compared with a pre-tax net gain of CHF 246 million in 2016 and a pre-tax net gain of CHF 544 million in 2015. As of 31 December 2017 , the cumulative net gains associated with the effective portion of derivative instruments designated as cash flow hedges reported in Equity were CHF 351 million (31 December 2016: CHF 972 million). In 2017 , a gain of CHF 8 million was r ecognized in Net trading income due to hedge i neffectiveness, compared with a gain of CHF 11 million in 2016 and a gain of CHF 150 million in 2015. Principal balances subject to cash flow forecasts CHF billion Within 1 year 1–3 years 3–5 years 5–10 years Over 10 years Assets 52 74 49 49 0 Liabilities 3 4 2 2 0 Net balance 50 70 47 47 0 Hedges of net investments in foreign operations The Group applies hedge accounting for certain net investments in f oreign operations. As of 31 December 2017, the positive replacement values and negative replacement values of foreign exchange (FX) derivatives (mainly FX swaps) designated as hedging instruments in net investment hedge accounting relationships were CHF 78 million and CHF 130 million , respectively (31 December 2016: positive replacement values of CHF 122 million and negative replacement values of CHF 79 million). As of 31 December 2017, the underlying hedged structural exposures in several currencies amount ed to CHF 8 . 2 billion (31 December 2016: CHF 7.5 billion). Hedges of structural FX exposures in currencies other than the US dollar may be comprised of two jointly designated derivatives as the foreign currency risk may be hedged against the US dollar firs t and then converted into Swiss francs, the presentation currency of the Group, as part of a separate FX derivative transaction. The aggregated notional amount of designated hedging derivatives as of 31 December 2017 was CHF 13 billion in total (31 Decembe r 2016: CHF 12.5 billion), including CHF 8.1 billion notional values related to US dollar versus Swiss franc swaps and CHF 5.0 billion notional values related to derivatives hedging foreign currencies (other than the US dollar) versus the US dollar. The ef fective portion of gains and losses of these FX swaps is transferred directly to OCI to offset foreign currency translation (FCT) gains and losses on the net investments in foreign branches and subsidiaries. As such, these FX swaps hedge the structural FX exposure resulting in the accumulation of FCT on the level of individual foreign branches and subsidiaries and hence on the total FCT OCI of the Group. UBS designates certain non-derivative foreign currency financial assets and liabilities of foreign branc hes or subsidiaries as hedging instruments in net investment hedge accounting arrangements. The FX translation difference recorded in FCT OCI of the non-derivative hedging instrument of one foreign entity offsets the structural FX exposure of another forei gn entity. Therefore, the aggregated FCT OCI of the Group is unchanged from this hedge designation. As of 31 December 2017, the nominal amount of non-derivative financial assets and liabilities designated as hedging instruments in such net investment hedge s was CHF 1 . 4 billion and CHF 1 . 4 billion , respectively (31 December 2016: CHF 1.5 billion non-derivative financial assets and CHF 1.5 billion non-derivative financial liabilities). Ineffectiveness of hedges of net investments in foreign operations was not material in 2017, 2016 and 2015. Undiscounted cash flows The table below provides undiscounted cash flow information for derivative instruments designated in hedge accounting relationships. Derivatives designated in hedge accounting relationships (undiscounted cash flows) CHF billion On demand Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 1 FX swaps / forwards Cash inflows 0 8 4 0 0 0 12 Cash outflows 0 8 4 0 0 0 12 Net cash flows 0 0 0 0 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps as of 31 December 2017 were not material as the majority of interest rate swaps designated in hedge accounting relationships are legally settled on a daily basis. |
UBS AG | |
Disclosure Hedge Accounting [Line Items] | |
Disclosure Of General Hedge Accounting Explanatory | Derivatives transacted for hedging purposes The Group enters into derivative transactions for the purposes of hedging risks inherent in assets, liabilities and forecast transactions. The accounting treatment of hedg e transactions varies according to the nature of the instrument hedged and whether the hedge qualifies as such for accounting purposes. Derivative transactions that qualify and are designated as hedges for accounting purposes are described under the corres ponding headings in this Note (fair value hedges, cash flow hedges and hedges of net investments in foreign operations). The Group has also executed various hedging strategies utilizing derivatives for which hedge accounting has not been applied. These ec onomic hedges include interest rate swaps and other interest rate derivatives (e.g., futures) for day-to-day economic interest rate risk management purposes. In addition, the Group has used equity futures, options and, to a lesser extent, swaps in a variet y of equity trading strategies to offset underlying equity and equity volatility exposure. The Group has also entered into CDS that provide economic hedges for credit risk exposures (refer to “Credit derivatives” in this Note ). Fair value hedges: interest rate risk related to debt instruments The Group’s fair value hedges principally consist of interest rate swaps that are used to protect against changes in the fair value of fixed-rate debt instruments, such as non-structured fixed-rate bonds, covered bonds and subordinated debt, due to movements in market interest rates. T he fair values of outstanding interest rate derivatives designated as fair value hedges were assets of CHF 47 million and liabilities of CHF 2 million as of 31 December 2017 and assets of CHF 152 million and liabilities of CHF 1 million as of 31 December 2 016. Fair value hedges of interest rate risk For the year ended CHF million 31.12.17 31.12.16 31.12.15 Gains / (losses) on hedging instruments (20) 140 554 Gains / (losses) on hedged items attributable to the hedged risk 1 (144) (552) Net gains / (losses) representing ineffective portions of fair value hedges (19) (4) 2 Fair value hedges: portfolio inte rest rate risk related to loans The Group also applies fair value hedge accounting to mortgage loan portfolio interest rate risk. The change in fair value of the hedged items is recorded separately from the hedged item and is included within Other assets o n the balance sheet. The fair values of outstanding interest rate derivatives designated for the se hedges as of 31 December 2017 were liabilities of CHF 32 million (31 December 201 6 : liabilities of CHF 44 million). Fair value hedges of portfolio interest rate risk For the year ended CHF million 31.12.17 31.12.16 31.12.15 Gains / (losses) on hedging instruments (11) (128) (176) Gains / (losses) on hedged items attributable to the hedged risk 4 116 147 Net gains / (losses) representing ineffective portions of fair value hedges (7) (12) (29) Cash flow hedges of forecast transactions UBS AG is exposed to variability in future interest cash flows on non-trading financial assets and liabilities that bear interest at variable rates or are expected to be refinanced or reinvested in the future. The amounts and timing of future cash flows, representin g both principal and interest flows, are projected on the basis of contractual terms and other relevant factors, including estimates of prepayments and defaults. The aggregate principal balances and interest cash flows across all portfolios over time form the basis for identifying the non-trading interest rate risk of UBS AG , which is hedged with interest rate swaps, the maximum maturity of which is 11 years . The table on the following page shows forecast principal balances on which expected interest cash f lows arise as of 31 December 2017 . Amounts shown represent, by time bucket, average assets and liabilities subject to forecast cash flows designated as hedged items in cash flow hedge accounting relationships. As of 31 December 2017, the fair values of outstanding derivatives designated as cash flow hedges of forecast transactions were CHF 30 million assets and CHF 2 million liabilities (31 Decem ber 2016 : CHF 68 million assets and CHF 5 million liabilities). Other comprehensive income from cash flow hed ges, net of tax was negative CHF 621 million, compared with negative CHF 666 million in 2016 and negative CHF 518 million in 2015. This result included the reclassification of a pre-tax net gain from Other comprehensive income to the income statement of CH F 826 million in 2017, compared with a pre-tax net gain of CHF 1,082 million in 2016 and a pre-tax net gain of CHF 1,199 million in 2015, partly offset by a pre-tax net fair value gain associated with the effective portion of derivative instruments designa ted as cash flow hedges recognized in comprehensive income of CHF 45 million in 2017, compared with a pre-tax net gain of CHF 246 million in 2016 and a pre-tax net gain of CHF 550 million in 2015. As of 31 December 2017, the cumulative net gains associate d with the effective portion of derivative instruments designated as cash flow hedges reported in Equity were CHF 351 million (31 December 2016: CHF 972 million). In 2017 , a gain of CHF 8 million was r ecognized in Net trading income due to hedge ineffectiveness, compared with a gain of CHF 11 million in 2016 and a gain of CHF 150 million in 2015. Principal balances subject to cash flow forecasts CHF billion Within 1 year 1–3 years 3–5 years 5–10 years Over 10 years Assets 52 74 49 49 0 Liabilities 3 4 2 2 0 Net balance 50 70 47 47 0 Hedges of net investments in foreign operations The Group applies hedge accounting for certain net investments in f oreign operations. As of 31 December 2017, the positive replacement values and negative replacement values of foreign exchange (FX) derivatives (mainly FX swaps) designated as hedging instruments in net investment hedge accounting relationships were CHF 78 million and CHF 130 million , respectively (31 December 2016: positive replacement values of CHF 122 million and negative replacement values of CHF 79 million). As of 31 December 2017, the underlying hedged structural exposures in several currencies amount ed to CHF 8 . 2 billion (31 December 2016: CHF 7.5 billion). Hedges of structural FX exposures in currencies other than the US dollar may be comprised of two jointly designated derivatives as the foreign currency risk may be hedged against the US dollar firs t and then converted into Swiss francs, the presentation currency of the Group, as part of a separate FX derivative transaction. The aggregated notional amount of designated hedging derivatives as of 31 December 2017 was CHF 13 billion in total (31 Decembe r 2016: CHF 12.5 billion), including CHF 8.1 billion notional values related to US dollar versus Swiss franc swaps and CHF 5.0 billion notional values related to derivatives hedging foreign currencies (other than the US dollar) versus the US dollar. The ef fective portion of gains and losses of these FX swaps is transferred directly to OCI to offset foreign currency translation (FCT) gains and losses on the net investments in foreign branches and subsidiaries. As such, these FX swaps hedge the structural FX exposure resulting in the accumulation of FCT on the level of individual foreign branches and subsidiaries and hence on the total FCT OCI of the Group. UBS designates certain non-derivative foreign currency financial assets and liabilities of foreign branc hes or subsidiaries as hedging instruments in net investment hedge accounting arrangements. The FX translation difference recorded in FCT OCI of the non-derivative hedging instrument of one foreign entity offsets the structural FX exposure of another forei gn entity. Therefore, the aggregated FCT OCI of the Group is unchanged from this hedge designation. As of 31 December 2017, the nominal amount of non-derivative financial assets and liabilities designated as hedging instruments in such net investment hedge s was CHF 1 . 4 billion and CHF 1 . 4 billion , respectively (31 December 2016: CHF 1.5 billion non-derivative financial assets and CHF 1.5 billion non-derivative financial liabilities). Ineffectiveness of hedges of net investments in foreign operations was not material in 2017, 2016 and 2015. Undiscounted cash flows The table below provides undiscounted cash flow information for derivative instruments designated in hedge accounting relationships. Derivatives designated in hedge accounting relationships (undiscounted cash flows) CHF billion On demand Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 1 FX swaps / forwards Cash inflows 0 8 4 0 0 0 12 Cash outflows 0 8 4 0 0 0 12 Net cash flows 0 0 0 0 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps as of 31 December 2017 were not material as the majority of interest rate swaps designated in hedge accounting relationships are legally settled on a daily basis. |
Financial assets available for
Financial assets available for sale | 12 Months Ended |
Dec. 31, 2017 | |
Financial Assets Available For Sale [Line Items] | |
Disclosure Of Available for sale Assets Explanatory | Note 13 Financial assets available for sale and held to maturity a) Financial assets available for sale CHF million 31.12.17 31.12.16 Financial assets available for sale by issuer type 1 Debt instruments Government and government agencies 7,000 11,650 of which: USA 6,569 7,779 Banks 299 1,845 Corporates and other 821 1,554 Total debt instruments 8,120 15,048 Equity instruments 546 628 Total financial assets available for sale 8,665 15,676 Unrealized gains – before tax 216 309 Unrealized (losses) – before tax (105) (117) Net unrealized gains / (losses) – before tax 111 193 Net unrealized gains / (losses) – after tax 8 96 1 Refer to Note 22c for more information on product type and fair value hierarchy categorization. |
UBS AG | |
Financial Assets Available For Sale [Line Items] | |
Disclosure Of Available for sale Assets Explanatory | Note 13 Financial assets available for sale and held to maturity a) Financial assets available for sale CHF million 31.12.17 31.12.16 Financial assets available for sale by issuer type 1 Debt instruments Government and government agencies 7,000 11,650 of which: USA 6,569 7,779 Banks 299 1,845 Corporates and other 821 1,554 Total debt instruments 8,120 15,048 Equity instruments 546 628 Total financial assets available for sale 8,665 15,676 Unrealized gains – before tax 216 309 Unrealized (losses) – before tax (105) (117) Net unrealized gains / (losses) – before tax 111 193 Net unrealized gains / (losses) – after tax 8 96 1 Refer to Note 22c for more information on product type and fair value hierarchy categorization. |
Financial assets held to maturi
Financial assets held to maturity | 12 Months Ended |
Dec. 31, 2017 | |
Financial Assets Held To Maturity [Line Items] | |
Disclosure of held-to-maturity [text block] | b) Financial assets held to maturity CHF million 31.12.17 31.12.16 Financial assets held to maturity by issuer type Debt instruments Government and government agencies 7,476 7,416 of which: USA 4,833 4,688 of which: Germany 1,682 1,708 of which: France 669 867 Banks 1,689 1,873 Total financial assets held to maturity 9,166 9,289 |
UBS AG | |
Financial Assets Held To Maturity [Line Items] | |
Disclosure of held-to-maturity [text block] | b) Financial assets held to maturity CHF million 31.12.17 31.12.16 Financial assets held to maturity by issuer type Debt instruments Government and government agencies 7,476 7,416 of which: USA 4,833 4,688 of which: Germany 1,682 1,708 of which: France 669 867 Banks 1,689 1,873 Total financial assets held to maturity 9,166 9,289 |
Property, equipment and softwar
Property, equipment and software | 12 Months Ended |
Dec. 31, 2017 | |
Property Equipment And Software [Line Items] | |
Disclosure of property, equipment and software [text block] | Note 14 Property, equipment and software At historical cost less accumulated depreciation CHF million Own-used properties Leasehold improvements IT hardware and communication Internally generated software Purchased software Other machines and equipment Projects in progress 31.12.17 31.12.16 Historical cost Balance at the beginning of the year 7,732 3,469 1,521 3,037 408 866 1,125 18,159 17,847 Additions 48 21 118 1 49 14 1,353 1,604 1,788 Disposals / write-offs 1 (39) (295) (115) (87) (32) (53) 0 (622) (1,104) Reclassifications (15) 136 45 1,220 (5) 27 (1,455) (46) 6 (200) Foreign currency translation (2) (41) 4 (12) 1 (14) 0 (65) (172) Balance at the end of the year 7,723 3,291 1,574 4,159 421 840 1,023 19,030 18,159 Accumulated depreciation Balance at the beginning of the year 4,300 2,132 1,027 1,542 233 594 0 9,828 10,153 Depreciation 167 199 179 347 61 61 0 1,015 959 Impairment 2 (2) 8 4 7 1 1 0 18 26 Disposals / write-offs 1 (39) (292) (112) (86) (32) (52) 0 (614) (1,090) Reclassifications (9) 5 (1) 0 0 0 0 (5) 6 (146) Foreign currency translation (2) (35) 6 (3) 3 (9) 0 (40) (75) Balance at the end of the year 4,414 2,017 1,103 1,807 266 595 0 10,201 9,828 Net book value Net book value at the beginning of the year 3,432 1,337 495 1,495 175 272 1,125 8,331 7,695 Net book value at the end of the year 3,4 3,309 1,274 471 2,352 155 245 1,023 5 8,829 8,331 1 Includes write-offs of fully depreciated assets. 2 Impairment charges recorded in 2017 relate to assets for which the recoverable amount was determined based on value-in-use. Recoverable amounts for these impaired assets were not material as of 31 December 2017. 3 As of 31 December 2017, contractual commitments to purchase property in the future amounted to approximately CHF 0.3 billion (31 December 2016: approximately CHF 0.3 billion). 4 Includes CHF 28 million related to leased assets, mainly IT hardware and communication. 5 Consists of CHF 791 million related to Internally generated software, CHF 197 million related to Own-used properties and CHF 35 million related to Leasehold improvements. 6 Reflects reclassifications to Properties held for sale (CHF 40 million on a net basis) of properties sold in 2017. |
UBS AG | |
Property Equipment And Software [Line Items] | |
Disclosure of property, equipment and software [text block] | Note 14 Property, equipment and software At historical cost less accumulated depreciation CHF million Own-used properties Leasehold improvements IT hardware and communication Internally generated software Purchased software Other machines and equipment Projects in progress 31.12.17 31.12.16 Historical cost Balance at the beginning of the year 7,732 3,440 1,512 3,037 408 853 1,123 18,106 17,823 Additions 44 15 101 1 43 13 1,291 1,508 1,770 Disposals / write-offs 1 (672) (303) (645) (355) (174) (59) (32) (2,239) (1,102) Reclassifications (17) 117 46 1,196 (5) 22 (1,406) (46) 6 (214) Foreign currency translation (2) (43) 3 (12) 1 (15) (1) (70) (171) Balance at the end of the year 7,085 3,226 1,018 3,867 272 815 975 17,259 18,106 Accumulated depreciation Balance at the beginning of the year 4,300 2,124 1,021 1,542 233 589 0 9,809 10,140 Depreciation 153 191 133 328 48 59 0 912 954 Impairment 2 (2) 8 2 6 1 1 0 15 26 Disposals / write-offs 1 (373) (298) (432) (155) (100) (55) 0 (1,413) (1,090) Reclassifications (9) 4 0 0 (1) 0 0 (7) 6 (147) Foreign currency translation (2) (36) 5 (3) 3 (10) 0 (43) (74) Balance at the end of the year 4,066 1,993 729 1,719 183 583 0 9,274 9,809 Net book value Net book value at the beginning of the year 3,432 1,316 492 1,495 175 264 1,123 8,297 7,683 Net book value at the end of the year 3,4 3,019 1,233 289 2,148 89 232 975 5 7,985 8,297 1 Mainly comprises CHF 819 million of assets on a net book value basis relating to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. Also includes write-offs of fully depreciated assets. 2 Impairment charges recorded in 2017 relate to assets for which the recoverable amount was determined based on value-in-use. Recoverable amounts for these impaired assets were not material as of 31 December 2017. 3 As of 31 December 2017, contractual commitments to purchase property in the future amounted to approximately CHF 0.3 billion (31 December 2016: approximately CHF 0.3 billion). 4 Includes CHF 22 million related to leased assets, mainly IT hardware and communication. 5 Consists of CHF 754 million related to Internally generated software, CHF 188 million related to Own-used properties and CHF 33 million related to Leasehold improvements. 6 Reflects reclassifications to Properties held for sale (CHF 40 million on a net basis) of properties sold in 2017. |
Goodwill and intangible assets
Goodwill and intangible assets | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Goodwill And Intangible Assets [Line Items] | |
Disclosure Of Intangible Assets And Goodwill Explanatory | Note 15 Goodwill and intangible assets Introduction UBS performs an impairment test on its goodwill assets on an annual basis or when indicators of impairment exist. UBS considers the segments, as reported in Note 2a, as separate cash-generating units (CGUs). The impairment test is performed for each segmen t to which goodwill is allocated by comparing the recoverable amount, based on its value-in-use, with the carrying amount of the respective segment. An impairment charge is recognized if the carrying amount exceeds the recoverable amount. As of 31 December 2017, total goodwill recognized on the balance sheet was CHF 6.2 billion, of which CHF 1.3 billion, CHF 3.4 billion and CHF 1.4 billion was carried by Wealth Management, Wealth Management Americas and Asset Management, respectively. Based on the impairmen t testing methodology described below, UBS concluded that the goodwill balances as of 31 December 2017 allocated to these segments remain recoverable and thus were not impaired. Methodology for goodwill impairment testing The recoverable amounts are determ ined using a discounted cash flow model, which has been adapted to use inputs that consider features of the banking business and its regulatory environment. The recoverable amount of a segment is the sum of the discounted earnings attributable to sharehold ers from the first three forecast years and the terminal value, adjusted for the effect of the capital assumed to be needed over the next three years and to support the perpetual growth implied by the long-term growth rate. The terminal value, which covers all periods beyond the third year, is calculated on the basis of the forecast of third-year profit, the discount rate and the long-term growth rate, as well as the implied perpetual capital growth. The carrying amount for each segment is determined by ref erence to the Group’s equity attribution framework. Within this framework, which is described in the “Capital management” section of this report, we attribute equity to the businesses on the basis of their risk-weighted assets and leverage ratio denominato r, their goodwill and intangible assets as well as equity directly associated with activity that Group ALM manages centrally on behalf of the business divisions. The framework is primarily used for purposes of measuring the performance of the businesses an d includes certain management assumptions. Attributed equity equals the capital that a segment requires to conduct its business and is considered an appropriate starting point from which to determine the carrying value of the segments. The attributed equit y methodology is aligned with the business planning process, the inputs from which are used in calculating the recoverable amounts of the respective CGU. Refer to the “Capital management” section of this report for more information on the equity attribution framework Assumptions Valuation parameters used within the Group’s impairment test model are linked to external market information, where applicable. The model used to determine the recoverable amount is most sensitive to changes in the forecas t earnings available to shareholders in years one to three, to changes in the discount rates and to changes in the long-term growth rate. The applied long-term growth rate is based on long-term economic growth rates for different regions worldwide. Earning s available to shareholders are estimated on the basis of forecast results, which are part of the business plan approved by the BoD . The discount rates are determined by applying a capital asset pricing model-based approach, as well as considering quantita tive and qualitative inputs from both internal and external analysts and the view of management. The discount rates were unchanged between 2016 and 2017. Key assumptions used to determine the recoverable amounts of each segment are tested for sensitivity b y applying a reasonably possible change to those assumptions. Forecast earnings available to shareholders were changed by 20%, the discount rates were changed by 1.5 percentage points and the long-term growth rates were changed by 0.75 percentage points. U nder all scenarios, reasonably possible changes in key assumptions did not result in an impairment of goodwill or intangible assets that would be material to the consolidated financial statements or to the reported financial performance of any of the busin ess divisions . If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill may become impaired in the future, giving rise to losses in the income statement. Recognition of any impairment of goo dwill would reduce IFRS equity and net profit. It would not affect cash flows and, as goodwill is required to be deducted from capital under the Basel III capital framework, no effect would be expected on the Group total capital ratios. Discount and growth rates Discount rates Growth rates In % 31.12.17 31.12.16 31.12.17 31.12.16 Wealth Management 9.0 9.0 1.7 1.7 Wealth Management Americas 9.0 9.0 2.4 2.4 Asset Management 9.0 9.0 2.4 2.4 Investment Bank 11.0 11.0 2.4 2.4 Goodwill Intangible assets CHF million Total Infrastructure Customer relationships, contractual rights and other Total 31.12.17 31.12.16 Historical cost Balance at the beginning of the year 6,311 773 739 1,512 7,823 7,821 Additions 37 64 64 101 24 Disposals (27) (34) (34) (61) (3) Write-offs 0 0 (75) Foreign currency translation (139) (33) (2) (35) (174) 57 Balance at the end of the year 6,182 741 766 1,507 7,689 7,823 Accumulated amortization and impairment Balance at the beginning of the year 626 641 1,267 1,267 1,253 Amortization 37 32 70 70 91 Impairment 1 0 0 0 0 Disposals (15) (15) (15) (1) Write-offs 0 0 (75) Foreign currency translation (27) (3) (29) (29) (1) Balance at the end of the year 637 655 1,292 1,292 1,267 Net book value at the end of the year 6,182 104 111 215 6,398 6,556 1 Impairment charges recorded in 2017 and 2016 relate to assets for which the recoverable amount was determined based on value-in-use (recoverable amount of the impaired assets: CHF 0 million for 2017 and CHF 3 million for 2016). The table below presents goodwill and intangible assets by segment for the year ended 31 December 2017 . CHF million Wealth Management Wealth Management Americas Investment Bank Asset Management Corporate Center – Services Total Goodwill Balance at the beginning of the year 1,303 3,571 36 1,401 6,311 Additions 37 37 Disposals (2) (25) (27) Foreign currency translation 8 (151) (2) 6 (139) Balance at the end of the year 1,346 3,420 34 1,382 6,182 Intangible assets Balance at the beginning of the year 40 152 41 4 9 245 Additions / transfers 47 17 64 Disposals (19) (19) Amortization (7) (41) (12) (3) (7) (70) Impairment 0 0 Foreign currency translation 2 (6) (1) 0 (5) Balance at the end of the year 63 121 28 1 2 215 The table below presents estimated, aggregated amortization expenses for intangible assets. CHF million Intangible assets Estimated, aggregated amortization expenses for: 2018 63 2019 49 2020 42 2021 11 2022 11 Thereafter 35 Not amortized due to indefinite useful life 5 Total 215 |
UBS AG | |
Disclosure Goodwill And Intangible Assets [Line Items] | |
Disclosure Of Intangible Assets And Goodwill Explanatory | Note 15 Goodwill and intangible assets Introduction UBS AG performs an impairment test on its goodwill assets on an annual basis or when indicators of impairment exist. UBS AG considers the segments, as reported in Note 2a, as separate cash-generating units (CGUs). The impairment test is performed for each segmen t to which goodwill is allocated by comparing the recoverable amount, based on its value-in-use, with the carrying amount of the respective segment. An impairment charge is recognized if the carrying amount exceeds the recoverable amount. As of 31 December 2017, total goodwill recognized on the balance sheet was CHF 6.2 billion, of which CHF 1.3 billion, CHF 3.4 billion and CHF 1.4 billion was carried by Wealth Management, Wealth Management Americas and Asset Management, respectively. Based on the impairmen t testing methodology described below, UBS AG concluded that the goodwill balances as of 31 December 2017 allocated to these segments remain recoverable and thus were not impaired. Methodology for goodwill impairment testing The recoverable amounts are det ermined using a discounted cash flow model, which has been adapted to use inputs that consider features of the banking business and its regulatory environment. The recoverable amount of a segment is the sum of the discounted earnings attributable to shareh olders from the first three forecast years and the terminal value, adjusted for the effect of the capital assumed to be needed over the next three years and to support the perpetual growth implied by the long-term growth rate. The terminal value, which cov ers all periods beyond the third year, is calculated on the basis of the forecast of third-year profit, the discount rate and the long-term growth rate, as well as the implied perpetual capital growth. The carrying amount for each segment is determined by reference to the Group’s equity attribution framework. Within this framework, which is described in the “Capital management” section of this report, we attribute equity to the businesses on the basis of their risk-weighted assets and leverage ratio denomin ator, their goodwill and intangible assets as well as equity directly associated with activity that Group ALM manages centrally on behalf of the business divisions. The framework is primarily used for purposes of measuring the performance of the businesses and includes certain management assumptions. Attributed equity equals the capital that a segment requires to conduct its business and is considered an appropriate starting point from which to determine the carrying value of the segments. The attributed eq uity methodology is aligned with the business planning process, the inputs from which are used in calculating the recoverable amounts of the respective CGU. Refer to the “Capital management” section of this report for more information on the equity attribution framework Assumptions Valuation parameters used within UBS AG’s impairment test model are linked to external market information, where applicable. The model used to determine the recoverable amount is most sensitive to changes in the forecast e arnings available to shareholders in years one to three, to changes in the discount rates and to changes in the long-term growth rate. The applied long-term growth rate is based on long-term economic growth rates for different regions worldwide. Earnings a vailable to shareholders are estimated on the basis of forecast results, which are part of the business plan approved by the BoD . The discount rates are determined by applying a capital asset pricing model-based approach, as well as considering quantitativ e and qualitative inputs from both internal and external analysts and the view of management. The discount rates were unchanged between 2016 and 2017. Key assumptions used to determine the recoverable amounts of each segment are tested for sensitivity by a pplying a reasonably possible change to those assumptions. Forecast earnings available to shareholders were changed by 20%, the discount rates were changed by 1.5 percentage points and the long-term growth rates were changed by 0.75 percentage points. Unde r all scenarios, reasonably possible changes in key assumptions did not result in an impairment of goodwill or intangible assets that would be material to the consolidated financial statements or to the reported financial performance of any of the business divisions. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill may become impaired in the future, giving rise to losses in the income statement. Recognition of any impairment of goodwi ll would reduce IFRS equity and net profit. It would not affect cash flows and, as goodwill is required to be deducted from capital under the Basel III capital framework, no effect would be expected on UBS AG’s total capital ratios. Discount and growth rates Discount rates Growth rates In % 31.12.17 31.12.16 31.12.17 31.12.16 Wealth Management 9.0 9.0 1.7 1.7 Wealth Management Americas 9.0 9.0 2.4 2.4 Asset Management 9.0 9.0 2.4 2.4 Investment Bank 11.0 11.0 2.4 2.4 Goodwill Intangible assets CHF million Total Infrastructure Customer relationships, contractual rights and other Total 31.12.17 31.12.16 Historical cost Balance at the beginning of the year 6,311 773 739 1,512 7,823 7,821 Additions 37 64 64 101 24 Disposals (27) (34) (34) (61) (3) Write-offs 0 0 (75) Foreign currency translation (139) (33) (2) (35) (174) 57 Balance at the end of the year 6,182 741 766 1,507 7,689 7,823 Accumulated amortization and impairment Balance at the beginning of the year 626 641 1,267 1,267 1,253 Amortization 37 32 70 70 91 Impairment 1 0 0 0 0 Disposals (15) (15) (15) (1) Write-offs 0 0 (75) Foreign currency translation (27) (3) (29) (29) (1) Balance at the end of the year 637 655 1,292 1,292 1,267 Net book value at the end of the year 6,182 104 111 215 6,398 6,556 1 Impairment charges recorded in 2017 and 2016 relate to assets for which the recoverable amount was determined based on value-in-use (recoverable amount of the impaired assets: CHF 0 million for 2017 and CHF 3 million for 2016). The table below presents goodwill and intangible assets by segment for the year ended 31 December 2017 . CHF million Wealth Management Wealth Management Americas Investment Bank Asset Management Corporate Center – Services Total Goodwill Balance at the beginning of the year 1,303 3,571 36 1,401 6,311 Additions 37 37 Disposals (2) (25) (27) Foreign currency translation 8 (151) (2) 6 (139) Balance at the end of the year 1,346 3,420 34 1,382 6,182 Intangible assets Balance at the beginning of the year 40 152 41 4 9 245 Additions / transfers 47 17 64 Disposals (19) (19) Amortization (7) (41) (12) (3) (7) (70) Impairment 0 0 Foreign currency translation 2 (6) (1) 0 (5) Balance at the end of the year 63 121 28 1 2 215 The table below presents estimated, aggregated amortization expenses for intangible assets. CHF million Intangible assets Estimated, aggregated amortization expenses for: 2018 63 2019 49 2020 42 2021 11 2022 11 Thereafter 35 Not amortized due to indefinite useful life 5 Total 215 |
Other assets
Other assets | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Other Assets [Line Items] | |
Disclosure Of Other Assets Explanatory | Note 16 Other assets CHF million 31.12.17 31.12.16 Prime brokerage receivables 1 19,080 9,828 Recruitment loans to financial advisors 2,553 3,087 Other loans to financial advisors 565 471 Bail deposit 2 1,337 1,213 Accrued interest income 577 526 Accrued income – other 781 818 Prepaid expenses 1,013 1,010 Settlement and clearing accounts 716 516 VAT and other tax receivables 359 292 Properties and other non-current assets held for sale 95 111 Assets of disposal group held for sale 3 0 5,137 Other 2,630 2,427 Total other assets 29,706 25,436 1 Prime brokerage services include clearance, settlement, custody, financing and portfolio reporting services for corporate clients trading across multiple asset classes. Prime brokerage receivables are mainly comprised of margin lending receivables. 2 Refer to Note 20b item 1 for more information. 3 Refer to Note 30 for more information. |
UBS AG | |
Disclosure Other Assets [Line Items] | |
Disclosure Of Other Assets Explanatory | Note 16 Other assets CHF million 31.12.17 31.12.16 Prime brokerage receivables 1 19,080 9,828 Recruitment loans to financial advisors 2,553 3,087 Other loans to financial advisors 565 471 Bail deposit 2 1,337 1,213 Accrued interest income 578 526 Accrued income – other 781 822 Prepaid expenses 819 1,008 Settlement and clearing accounts 716 516 VAT and other tax receivables 292 261 Properties and other non-current assets held for sale 95 111 Assets of disposal group held for sale 3 0 5,137 Other 2,688 2,433 Total other assets 29,505 25,412 1 Prime brokerage services include clearance, settlement, custody, financing and portfolio reporting services for corporate clients trading across multiple asset classes. Prime brokerage receivables are mainly comprised of margin lending receivables. 2 Refer to Note 20b item 1 for more information. 3 Refer to Note 30 for more information. |
Due to banks and customers
Due to banks and customers | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Due To Banks And Customers [Line Items] | |
Disclosure of due to banks and customers [text block] | N ote 17 Due to banks and customers CHF million 31.12.17 31.12.16 Due to banks 7,533 10,645 Due to customers 408,999 423,672 of which: demand deposits 188,580 194,044 of which: retail savings / deposits 161,828 170,729 of which: time deposits 47,391 52,716 of which: fiduciary deposits 11,200 6,184 Total due to banks and customers 416,532 434,317 |
UBS AG | |
Disclosure Due To Banks And Customers [Line Items] | |
Disclosure of due to banks and customers [text block] | N ote 17 Due to banks and customers CHF million 31.12.17 31.12.16 Due to banks 7,533 10,645 Due to customers 447,141 450,199 of which: demand deposits 190,341 195,756 of which: retail savings / deposits 161,828 170,729 of which: time deposits 1 83,773 77,531 of which: fiduciary deposits 11,200 6,184 Total due to banks and customers 454,675 460,844 1 Includes Group-internal funding obtained from UBS Group AG and UBS Group Funding (Switzerland) AG of CHF 35 billion as of 31 December 2017 (31 December 2016: CHF 25 billion). |
Financial liabilities designate
Financial liabilities designated at fair value | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Financial Lliabilities Designated At Fair Value [Line Items] | |
Disclosure Of Financial Instruments Designated At Fair Value Through Profit Or Loss Explanatory | Note 18 Financial liabilities designated at fair value CHF million 31.12.17 31.12.16 Issued debt instruments Equity-linked 1 34,162 29,831 Rates-linked 5,811 10,150 Credit-linked 2,937 4,101 Fixed-rate 3,921 2,972 Other 2,671 2,875 Total issued debt instruments 49,502 49,930 of which: issued by UBS AG with original maturity greater than one year 2,3 37,266 36,347 Over-the-counter debt instruments Equity-linked 1 1,350 1,992 Other 2,967 2,671 Total over-the-counter debt instruments 4,317 4,663 of which: issued by UBS AG with original maturity greater than one year 2,4 3,049 4,210 Repurchase agreements 375 395 Loan commitments and guarantees 5 9 29 Total 54,202 55,017 of which: life-to-date own credit (gain) / loss 195 (141) 1 Includes investment fund unit-linked instruments issued. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. 3 More than 99% of the balance as of 31 December 2017 was unsecured (31 December 2016: more than 99% of the balance was unsecured). 4 More than 40% of the balance as of 31 December 2017 was unsecured (31 December 2016: more than 35% of the balance was unsecured). 5 Loan commitments recognized as Financial liabilities designated at fair value until drawn and recognized as Loans. See Note 1a item 3o for more information. As of 31 December 2017 and 31 December 2016 , the contractual redemption amount at maturity of f inancial liabilities designated at fair value through profit or loss was not materially different from the carrying value. The table on the following page shows the residual contractual maturity of the carrying value of financial liabilities designated at fair value, split between fixed-rate and floating-rate instrument s based on the contractual terms, and does not consider any early redemption features. Interest rate ranges for future interest payments related to these financial liabilities designated at fair value have not been included in the table on the following pa ge as a majority of these liabilities are structured products, and therefore the future interest payments are highly dependent upon the embedded derivative and prevailing market conditions at the time each interest payment is made. Refer to Note 25 d for maturity information on an undiscounted cash flow basis Contractual maturity of carrying value CHF million 2018 2019 2020 2021 2022 2023–2027 Thereafter Total 31.12.17 Total 31.12.16 UBS AG 1 Non-subordinated debt Fixed-rate 3,339 1,350 872 401 571 511 3,610 10,653 9,505 Floating-rate 16,428 5,660 4,418 1,297 1,883 4,983 6,497 41,167 42,757 Subtotal 19,767 7,010 5,290 1,697 2,455 5,494 10,107 51,820 52,262 Other subsidiaries 2 Non-subordinated debt Fixed-rate 90 797 52 74 7 345 136 1,502 1,768 Floating-rate 330 18 194 0 48 27 263 879 987 Subtotal 420 816 246 74 55 372 399 2,382 2,755 Total 20,187 7,826 5,536 1,772 2,510 5,866 10,506 54,202 55,017 1 Comprises instruments issued by the legal entity UBS AG. 2 Comprises instruments issued by subsidiaries of UBS AG. |
UBS AG | |
Disclosure Financial Lliabilities Designated At Fair Value [Line Items] | |
Disclosure Of Financial Instruments Designated At Fair Value Through Profit Or Loss Explanatory | Note 18 Financial liabilities designated at fair value CHF million 31.12.17 31.12.16 Issued debt instruments Equity-linked 1 34,162 29,831 Rates-linked 5,811 10,150 Credit-linked 2,937 4,101 Fixed-rate 3,921 2,972 Other 2,671 2,875 Total issued debt instruments 49,502 49,930 of which: issued by UBS AG with original maturity greater than one year 2,3 37,266 36,347 Over-the-counter debt instruments Equity-linked 1 1,350 1,992 Other 2,967 2,671 Total over-the-counter debt instruments 4,317 4,663 of which: issued by UBS AG with original maturity greater than one year 2,4 3,049 4,210 Repurchase agreements 375 395 Loan commitments and guarantees 5 9 29 Total 54,202 55,017 of which: life-to-date own credit (gain) / loss 195 (141) 1 Includes investment fund unit-linked instruments issued. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. 3 More than 99% of the balance as of 31 December 2017 was unsecured (31 December 2016: more than 99% of the balance was unsecured). 4 More than 40% of the balance as of 31 December 2017 was unsecured (31 December 2016: more than 35% of the balance was unsecured). 5 Loan commitments recognized as Financial liabilities designated at fair value until drawn and recognized as Loans. See Note 1a item 3o for more information. As of 31 December 2017 and 31 December 2016 , the contractual redemption amount at maturity of f inancial liabilities designated at fair value through profit or loss was not materially different from the carrying value. The table on the following page shows the residual contractual maturity of the carrying value of financial liabilities designated at fair value, split between fixed-rate and floating-rate instrument s based on the contractual terms, and does not consider any early redemption features. Interest rate ranges for future interest payments related to these financial liabilities designated at fair value have not been included in the table on the following pa ge as a majority of these liabilities are structured products, and therefore the future interest payments are highly dependent upon the embedded derivative and prevailing market conditions at the time each interest payment is made. Refer to Note 25 d for maturity information on an undiscounted cash flow basis Contractual maturity of carrying value CHF million 2018 2019 2020 2021 2022 2023–2027 Thereafter Total 31.12.17 Total 31.12.16 UBS AG 1 Non-subordinated debt Fixed-rate 3,339 1,350 872 401 571 511 3,610 10,653 9,505 Floating-rate 16,428 5,660 4,418 1,297 1,883 4,983 6,497 41,167 42,757 Subtotal 19,767 7,010 5,290 1,697 2,455 5,494 10,107 51,820 52,262 Other subsidiaries 2 Non-subordinated debt Fixed-rate 90 797 52 74 7 345 136 1,502 1,768 Floating-rate 330 18 194 0 48 27 263 879 987 Subtotal 420 816 246 74 55 372 399 2,382 2,755 Total 20,187 7,826 5,536 1,772 2,510 5,866 10,506 54,202 55,017 1 Comprises instruments issued by the legal entity UBS AG. 2 Comprises instruments issued by subsidiaries of UBS AG. |
Debt issued held at amortized c
Debt issued held at amortized cost | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Debt Issued Held At Amortized Cost [Line Items] | |
Disclosure of debt issued [text block] | Note 19 Debt issued held at amortized cost CHF million 31.12.17 31.12.16 Certificates of deposit 23,831 20,207 Commercial paper 23,532 1,653 Other short-term debt 3,590 4,318 Short-term debt 1 50,953 26,178 Senior fixed-rate bonds 32,268 27,008 of which: issued by UBS AG with original maturity greater than one year 2 32,256 26,850 Senior unsecured debt that contributes to total loss-absorbing capacity 27,233 16,890 Covered bonds 4,112 5,836 Subordinated debt 16,555 19,325 of which: high-trigger loss-absorbing additional tier 1 capital instruments 5,187 5,429 of which: low-trigger loss-absorbing additional tier 1 capital instruments 2,383 2,342 of which: low-trigger loss-absorbing tier 2 capital instruments 8,286 10,429 of which: non-Basel III-compliant tier 2 capital instruments 700 1,125 Debt issued through the central bond institutions of the Swiss regional or cantonal banks 8,345 8,302 Other long-term debt 87 112 of which: issued by UBS AG with original maturity greater than one year 2 66 94 Long-term debt 3 88,599 77,472 Total debt issued held at amortized cost 4 139,551 103,649 1 Debt with an original maturity of less than one year. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. 100% of the balance as of 31 December 2017 was unsecured (31 December 2016: 100% of the balance was unsecured). 3 Debt with original maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. 4 Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. The Group uses interest rate and foreign exchange derivatives to manage the risks inherent in certain debt instruments held at amortized cost. In certain cases, the Group applies hedge accounting for interest rate risk as discussed in Note 1 a item 3k and Note 12 . As a result of applying hedge accounting, the life-to-date adjustment to the carrying value of debt issued was an increase of CHF 34 million as of 31 December 2017 and an increase of CHF 490 million as of 31 December 2016 , reflecting changes in fair value due to interest rate movements. Subordinated debt consists of unsecured debt obligations that are contractually subordinated in right of payment to all other present and future non-subordinated obligations of the respective issuing entity. All of the subordinated debt instruments outstanding as of 31 December 2017 pay a fixed rate of interest. The table below shows the residual contractual maturity of the carrying value of debt issued, split between fixed-rate and floating-rate based on the contractual terms, and does not consider any early redemption features. The effects from interest rate swaps, which are used to hedge various fixed-rate debt issuances by changing the repricing characteristics into those similar to floating-rate debt, are also not considere d in the table below. Refer to Note 25 d for maturity information on an undiscounted cash flow basis Contractual maturity of carrying value CHF million, except where indicated 2018 2019 2020 2021 2022 2023-2027 Thereafter Total 31.12.17 Total 31.12.16 UBS Group AG 1 Subordinated debt Fixed-rate 0 0 0 0 0 0 7,570 7,570 7,771 Interest rates (range in %) 5.8–7.1 Subtotal 0 0 0 0 0 0 7,570 7,570 7,771 UBS AG 2 Non-subordinated debt Fixed-rate 38,470 3,975 7,964 4,107 1,580 0 18 56,115 42,724 Interest rates (range in %) 0–6.6 2.4–4.0 0–4.9 0.1–1.4 4.0–4.0 Floating-rate 21,158 4,818 3,926 0 0 0 1,223 31,125 15,937 Subordinated debt Fixed-rate 0 0 0 0 1,912 7,073 0 8,985 11,554 Interest rates (range in %) 7.6–7.6 4.8–8.8 Subtotal 59,628 8,793 11,891 4,107 3,492 7,073 1,241 96,225 70,215 Other subsidiaries 3 Non-subordinated debt Fixed-rate 805 747 2,186 2,940 4,535 15,723 2,855 29,791 23,843 Interest rates (range in %) 0.4–3.8 0.6–2.9 0.1–2.8 0.1–3.0 0.1–3.4 0.1–4.1 0.2–4.3 Floating-rate 1 0 293 976 2,535 2,162 0 5,966 1,820 Subtotal 806 746 2,479 3,916 7,070 17,885 2,855 35,756 25,663 Total 60,434 9,540 14,370 8,022 10,562 24,958 11,666 139,551 103,649 1 Comprises debt issued by the legal entity UBS Group AG. 2 Comprises debt issued by the legal entity UBS AG. 3 Comprises debt issued by other direct subsidiaries of UBS Group AG and by subsidiaries of UBS AG. |
UBS AG | |
Disclosure Debt Issued Held At Amortized Cost [Line Items] | |
Disclosure of debt issued [text block] | Note 19 Debt issued held at amortized cost CHF million 31.12.17 31.12.16 Certificates of deposit 23,831 20,207 Commercial paper 23,532 1,653 Other short-term debt 3,590 4,318 Short-term debt 1 50,953 26,178 Senior fixed-rate bonds 32,268 27,008 of which: issued by UBS AG with original maturity greater than one year 2 32,256 26,850 Covered bonds 4,112 5,836 Subordinated debt 8,985 11,554 of which: low-trigger loss-absorbing tier 2 capital instruments 8,286 10,429 of which: non-Basel III-compliant tier 2 capital instruments 700 1,125 Debt issued through the central bond institutions of the Swiss regional or cantonal banks 8,345 8,302 Other long-term debt 87 121 of which: issued by UBS AG with original maturity greater than one year 2 66 94 Long-term debt 3 53,796 52,820 Total debt issued held at amortized cost 4 104,749 78,998 1 Debt with an original maturity of less than one year. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. 100% of the balance as of 31 December 2017 was unsecured (31 December 2016: 100% of the balance was unsecured). 3 Debt with original maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. 4 Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. UBS AG uses interest rate and foreign exchange derivatives to manage the risks inherent in certain debt instruments held at amortized cost. In cer tain cases, UBS AG applies hedge accounting for interest rate risk as discussed in Note 1 a item 3k and Note 12 . As a result of applying hedge accounting, the life-to-date adjustment to the carrying value of debt issued was an increase of CHF 480 million as of 31 December 2017 and an increase of CHF 821 million as of 31 December 2016 , reflecting changes in fair value due to interest rate movements. Subordinated debt consists of unsecured debt obligations that are contractually subordinated in right of payment to all other present and future non-subordinated obligations of the respective issuing entity. All of the subordinated debt instruments outstanding as of 31 December 2017 pay a fixed rate of interest. The table below shows the residual contractual maturity of the carrying value of debt issued, split between fixed-rate and floating-rate based on the contractual terms, and does not consider any early redemption features. The effects from interest rate swaps, which are used to hedge various fixed-rate debt issuances by changing the repricing characteristics into those similar to floating-rate debt, are also not considere d in the table below. Refer to Note 25 d for maturity information on an undiscounted cash flow basis Contractual maturity of carrying value CHF million, except where indicated 2018 2019 2020 2021 2022 2023–2027 Thereafter Total 31.12.17 Total 31.12.16 UBS AG 1 Non-subordinated debt Fixed-rate 38,470 3,975 7,987 4,162 1,643 0 3 56,239 42,999 Interest rates (range in %) 0–6.6 2.4–4.0 0–4.9 0.1–1.4 4.0–4.0 Floating-rate 21,158 4,818 3,926 0 0 0 1,223 31,125 15,937 Subordinated debt Fixed-rate 0 0 0 0 1,912 7,073 0 8,985 11,554 Interest rates (range in %) 7.6–7.6 4.8–8.8 Subtotal 59,628 8,793 11,913 4,162 3,555 7,073 1,225 96,349 70,490 Other subsidiaries 2 Non-subordinated debt Fixed-rate 805 747 725 1,000 835 3,384 903 8,398 8,507 Interest rates (range in %) 0.4–3.8 0.6–2.9 0.1–2.8 0.1–2.4 0.1–3.4 0.1–2.8 0.2–2.7 Floating-rate 1 0 1 0 0 0 0 1 1 Subtotal 806 746 726 1,000 835 3,384 903 8,400 8,507 Total 60,434 9,540 12,639 5,162 4,389 10,457 2,128 104,749 78,998 1 Comprises debt issued by the legal entity UBS AG. 2 Comprises debt issued by subsidiaries of UBS AG. |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2017 | |
Provisions [Line Items] | |
Disclosure Of Provisions Explanatory | Note 20 Provisions and contingent liabilities a) Provisions CHF million Operational risks 1 Litigation, regulatory and similar matters 2 Restruc- turing Loan com- mitments and guarantees Real estate Employee benefits 5 Other Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 50 3,261 498 54 142 77 91 4,174 4,164 Additions from acquired companies 0 0 0 0 0 0 7 7 0 Increase in provisions recognized in the income statement 15 682 220 11 3 12 45 988 1,433 Release of provisions recognized in the income statement (7) (209) (80) (32) (2) (21) (20) (371) (288) Provisions used in conformity with designated purpose (13) (1,230) (313) 0 (12) (1) (34) (1,604) (1,152) Capitalized reinstatement costs 0 0 0 0 7 0 0 7 (2) Reclassifications 0 0 0 0 0 0 0 0 10 Foreign currency translation / unwind of discount (3) (59) (2) 0 (5) 1 1 (68) 10 Balance at the end of the year 43 2,444 322 3 33 134 4 68 89 3,133 4,174 1 Comprises provisions for losses resulting from security risks and transaction processing risks. 2 Comprises provisions for losses resulting from legal, liability and compliance risks. 3 Primarily consists of personnel-related restructuring provisions of CHF 83 million as of 31 December 2017 (31 December 2016: CHF 150 million) and provisions for onerous lease contracts of CHF 235 million as of 31 December 2017 (31 December 2016: CHF 348 million). 4 Consists of reinstatement costs for leasehold improvements of CHF 92 million as of 31 December 2017 (31 December 2016: CHF 87 million) and provisions for onerous lease contracts of CHF 41 million as of 31 December 2017 (31 December 2016: CHF 55 million). 5 Includes provisions for sabbatical and anniversary awards as well as provisions for severance that are not part of restructuring provisions. Restructuring provisions primarily relate to onerous lease contracts and severance payments. The use of onerous lease provisions is driven by the maturities of the underlying lease contracts. Severance-related provisions are u sed within a short time period, usually within six months, but potential changes in amount may be triggered when natural staff attrition reduces the number of people affected by a restructuring and therefore the estimated costs. Information on provisions a nd contingent liabilities in respect of litigation, regulatory and similar matters, as a class, is included in Note 20b. There are no material contingent liabilities associated with the other classes of provisions. |
UBS AG | |
Provisions [Line Items] | |
Disclosure Of Provisions Explanatory | Note 20 Provisions and contingent liabilities a) Provisions CHF million Operational risks 1 Litigation, regulatory and similar matters 2 Restruc- turing Loan com- mitments and guarantees Real estate Employee benefits 5 Other Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 50 3,261 498 54 138 77 91 4,169 4,163 Additions from acquired companies 0 0 0 0 0 0 7 7 0 Increase in provisions recognized in the income statement 15 682 174 11 3 11 45 941 1,430 Release of provisions recognized in the income statement (7) (209) (74) (32) (2) (18) (20) (362) (288) Provisions used in conformity with designated purpose (13) (1,230) (280) 0 (12) (1) (34) (1,571) (1,152) Capitalized reinstatement costs 0 0 0 0 4 0 0 4 (1) Reclassifications 0 0 (21) 0 0 (14) 0 (36) 7 Foreign currency translation / unwind of discount (3) (59) (2) 0 (5) 1 1 (68) 10 Balance at the end of the year 43 2,444 294 3 33 125 4 55 89 3,084 4,169 1 Comprises provisions for losses resulting from security risks and transaction processing risks. 2 Comprises provisions for losses resulting from legal, liability and compliance risks. 3 Primarily consists of personnel-related restructuring provisions of CHF 54 million as of 31 December 2017 (31 December 2016: CHF 150 million) and provisions for onerous lease contracts of CHF 235 million as of 31 December 2017 (31 December 2016: CHF 348 million). 4 Consists of reinstatement costs for leasehold improvements of CHF 86 million as of 31 December 2017 (31 December 2016: CHF 85 million) and provisions for onerous lease contracts of CHF 39 million as of 31 December 2017 (31 December 2016: CHF 53 million). 5 Includes provisions for sabbatical and anniversary awards as well as provisions for severance that are not part of restructuring provisions. Restructuring provisions primarily relate to onerous lease contracts and severance payments. The use of onerous lease provisions is driven by the maturities of the underlying lease contracts. Severance-related provisions are u sed within a short time period, usually within six months, but potential changes in amount may be triggered when natural staff attrition reduces the number of people affected by a restructuring and therefore the estimated costs. Information on provisions a nd contingent liabilities in respect of litigation, regulatory and similar matters, as a class, is included in Note 20b. There are no material contingent liabilities associated with the other classes of provisions. |
Litigation, regulatory and simi
Litigation, regulatory and similar matters | 12 Months Ended |
Dec. 31, 2017 | |
Litigation Regulatory And Similar Matters [Line Items] | |
Disclosure Of Contingent Liabilities Explanatory | b) Litigati on, regulatory and similar matters The Group operates in a legal and regulatory environment that exposes it to significant litigation and similar risks arising from disputes and regulatory proceedings. As a result, UBS (which for purposes of this Note may refer to UBS Group AG and / or one or more of its subsidiaries, as applicable) is involved in various disputes and legal proceedings, including litigation, arbitration, and regulatory and criminal investigations. Such matters are subject to many uncertainties, and the outcome and the timing of resolution are often difficult to predict, particularly in the earlier stages of a case. There are also situations where the Group may enter into a settlement agreement. This may occur in ord er to avoid the expense, management distraction or reputational implications of continuing to contest liability, even for those matters for which the Group believes it should be exonerated. The uncertainties inherent in all such matters affect the amount a nd timing of any potential outflows for both matters with respect to which provisions have been established and other contingent liabilities. The Group makes provisions for such matters brought against it when, in the opinion of management after seeking le gal advice, it is more likely than not that the Group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required, and the amount can be reliably estimated. Where these factors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against the Group, but are nevertheless expected to be, based on the Group’s experience with similar asserted claims. If any of those conditions is not met, suc h matters result in contingent liabilities. If the amount of an obligation cannot be reliably estimated, a liability exists that is not recognized even if an outflow of resources is probable. Accordingly, no provision is established even if the potential o utflow of resources with respect to such matters could be significant. Specific litigation, regulatory and other matters are described below, including all such matters that management considers to be material and others that management believes to be of s ignificance due to potential financial, reputational and other effects. The amount of damages claimed, the size of a transaction or other information is provided where available and appropriate in order to assist users in considering the magnitude of poten tial exposures. In the case of certain matters below, we state that we have established a provision, and for the other matters, we make no such statement. When we make this statement and we expect disclosure of the amount of a provision to prejudice seriously our position with other parties in the matter because it would reveal what UBS believes to be the probable and reliably estimable outflow, we do not disclose that amount. In some cases we are subject to confidentiality obligations that preclude such disclosure. With respect to the matters for which we do not state whether we have established a provisi on, either (a) we have not established a provision, in which case the matter is treated as a contingent liability under the applicable accounting standard, or (b) we have established a provision but expect disclosure of that fact to prejudice seriously our position with other parties in the matter because it would reveal the fact that UBS believes an outflow of resources to be probable and reliably estimable. With respect to certain litigation, regulatory and similar matters for which we have established pr ovisions, we are able to estimate the expected timing of outflows. However, the aggregate amount of the expected outflows for those matters for which we are able to estimate expected timing is immaterial relative to our current and expected levels of liqui dity over the relevant time periods. The aggregate amount provisioned for litigation, regulatory and similar matters as a class is disclosed in the “Provisions” table in Note 20a above. It is not practicable to provide an aggregate estimate of liability fo r our litigation, regulatory and similar matters as a class of contingent liabilities. Doing so would require us to provide speculative legal assessments as to claims and proceedings that involve unique fact patterns or novel legal theories, that have not yet been initiated or are at early stages of adjudication, or as to which alleged damages have not been quantified by the claimants. Although we therefore cannot provide a numerical estimate of the future losses that could arise from litigation, regulatory and similar matters, we believe that the aggregate amount of possible future losses from this class that are more than remote substantially exceeds the level of current provisions. Litigation, regulatory and similar matters may also result in non-monetary penalties and consequences. For example, the Non-Prosecution Agreement (NPA) described in item 5 of this Note, which we entered into with the US Department of Justice (DOJ), Criminal Division, Fraud Section in connection with our submissions of benchmark interest rates, including, among others, the British Bankers’ Association London Interbank Offered Rate (LIBOR), was terminated by the DOJ based on its determination that we had committed a US crime in relation to foreign exchange matters. As a consequence , UBS AG pleaded guilty to one count of wire fraud for conduct in the LIBOR matter, paid a fine and is subject to probation through January 2020 . A guilty plea to, or conviction of, a crime could have material consequences for UBS. Resolution of regulatory proceedings may require us to obtain waivers of regulatory disqualifications to maintain certain operations, may entitle regulatory authorities to limit, suspend or terminate licenses and regulatory authorizations, and may permit financial market utilitie s to limit, suspend or terminate our participation in such utilities. Failure to obtain such waivers, or any limitation, suspension or termination of licenses, authorizations or participations, could have material consequences for UBS. The risk of loss ass ociated with litigation, regulatory and similar matters is a component of operational risk for purposes of determining our capital requirements. Information concerning our capital requirements and the calculation of operational risk for this purpose is inc luded in the “Capital management” section of this report. Provisions for litigation, regulatory and similar matters by business division and Corporate Center unit 1 CHF million Wealth Manage- ment Wealth Manage- ment Americas Personal & Corporate Banking Asset Manage- ment Investment Bank CC – Services CC – Group ALM CC – Non-core and Legacy Portfolio Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 292 425 78 5 616 259 0 1,585 3,261 2,983 Increase in provisions recognized in the income statement 30 158 3 6 8 248 0 229 682 856 Release of provisions recognized in the income statement (4) (12) (1) (9) 2 (49) (6) 0 (129) (209) (48) Provisions used in conformity with designated purpose (135) (207) (2) (1) (216) (262) 0 (406) (1,230) (554) Foreign currency translation / unwind of discount 24 (17) 2 0 (15) 1 0 (55) (59) 25 Balance at the end of the year 207 348 79 1 345 240 0 1,224 2,444 3,261 1 Provisions, if any, for the matters described in this Note are recorded in Wealth Management (item 3), Wealth Management Americas (item 4), the Investment Bank (item 7) and Corporate Center – Non-core and Legacy Portfolio (item 2). Provisions, if any, for the matters described in items 1 and 6 of this Note are allocated between Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this Note in item 5 are allocated between the Investment Bank, Corporate Center – Services and Corporate Center – Non-core and Legacy Portfolio. 2 In 2017, a release of CHF 5 million was recognized in Provisions for litigation, regulatory and similar matters, with a corresponding increase in Other provisions. 1. Inquiries regarding cross-border wealth management businesses Tax and regulatory authorities in a number of countries have made inquiries, served requests for information or examined employees located in their respective jurisdictions relating to the cross-border wealth management services provided by UBS and other financial institutions. It is possible that the implementation of automatic tax information exchange and other measures relating to cross-border provision of financial services could give rise to further inquiries in the future. UBS has received disclosure orders f rom the Swiss Federal Tax Administration (FTA) to transfer information based on requests for international administrative assistance in tax matters. The requests concern a number of UBS account numbers pertaining to current and former clients and are based on data from 2006 and 2008. UBS has taken steps to inform affected clients about the administrative assistance proceedings and their procedural rights, including the right to appeal. The requests are based on data received from the German authorities, who seized certain data related to UBS clients booked in Switzerland during their investigations and have apparently shared this data with other European countries. UBS expects additional countries to file similar requests. The Swiss Federal Administrative C ourt ruled in 2016 that in the administrative assistance proceedings related to a French bulk request, UBS has the right to appeal all final FTA client data disclosure orders. Since 2013, UBS (France) S.A. and UBS AG and certain former employees have been under investigation in France for alleged complicity in having illicitly solicited clients on French territory and regarding the laundering of proceeds of tax fraud and of banking and financial solicitation by unauthorized persons. In connection with this investigation, the investigating judges ordered UBS AG to provide bail (“ caution ”) of EUR 1.1 billion and UBS (France) S.A. to post bail of EUR 40 million, which was reduced on appeal to EUR 10 million. In February 2016, the investigating judges notified U BS AG and UBS (France) S.A. that they have closed their investigation. In July 2016, UBS AG and UBS (France) S.A. received the National Financial Prosecutor’s recommendation (“ réquisitoire ”). In March 2017, the investigating judges issued the trial order ( “ ordonnance de renvoi ”) that charges UBS AG and UBS (France) S.A., as well as various former employees, with illicit solicitation of clients on French territory and with participation in the laundering of the proceeds of tax fraud, and which transfers the case to court. The trial schedule has not yet been announced. In October 2017, the Investigation Chamber of the Court of Appeals decided that UBS (France) S.A. shall not be constituted as a civil party in the guilty plea proceedings against the former UBS (France) S.A. Head of Front Office. UBS (France) S.A. has appealed this decision to the French Supreme Court (“ Cour de cassation ”). In 2016, UBS was notified by the Belgian investigating judge that it is under formal investigation (“ inculpé ”) regarding th e laundering of proceeds of tax fraud and of banking, financial solicitation by unauthorized persons and serious tax fraud. In 2015, UBS received inquiries from the US Attorney’s Office for the Eastern District of New York and from the US Securities and Ex change Commission (SEC), which are investigating potential sales to US persons of bearer bonds and other unregistered securities in possible violation of the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and the registration requirements of the US securities laws. UBS is cooperating with the authorities in these investigations. In 2018, UBS was informed by the US Attorney ’ s Office and the SEC that they have closed their investigations and that they will not take any action . UBS has, and reportedl y numerous other financial institutions have, received inquiries from authorities concerning accounts relating to the Fédération Internationale de Football Association (FIFA) and other constituent soccer associations and related persons and entities. UBS i s cooperating with authorities in these inquiries. Our balance sheet at 31 December 2017 reflected provisions with respect to matters described in this item 1 in an amount that UBS believes to be appropriate under the applicable accounting standard. As in the case of other matters for which we have established provisions, the future outflow of resources in respect of such matters cannot be determined with certainty based on currently available information and accordingly may ultimately prove to be substanti ally greater (or may be less) than the provision that we have recognized. 2. Claims related to sales of residential mortgage-backed securities and mortgages From 2002 through 2007, prior to the crisis in the US residential loan market, UBS was a substantia l issuer and underwriter of US residential mortgage-backed securities (RMBS) and was a purchaser and seller of US residential mortgages. A subsidiary of UBS, UBS Real Estate Securities Inc. (UBS RESI), acquired pools of residential mortgage loans from orig inators and (through an affiliate) deposited them into securitization trusts. In this manner, from 2004 through 2007, UBS RESI sponsored approximately USD 80 billion in RMBS, based on the original principal balances of the securities issued. UBS RESI also sold pools of loans acquired from originators to third-party purchasers. These whole loan sales during the period 2004 through 2007 totaled approximately USD 19 billion in original principal balance. UBS was not a significant originator of US residential l oans. A branch of UBS originated approximately USD 1.5 billion in US residential mortgage loans during the period in which it was active from 2006 to 2008, and securitized less than half of these loans. Lawsuits related to contractual representations and warranties concerning mortgages and RMBS: When UBS acted as an RMBS sponsor or mortgage seller, it generally made certain representation s relating to the characteristics of the underlying loans. In the event of a material breach of these representations, UBS was in certain circumstances contractually obligated to repurchase the loans to which the representations related or to indemnify cer tain parties against losses. In 2012, certain RMBS trusts filed an action (Trustee Suit) in the US District Court for the Southern District of New York (SDNY) seeking to enforce UBS RESI’s obligation to repurchase loans in the collateral pools for three RM BS securitizations with an original principal balance of approximately USD 2 billion. Approximately 9,000 loans were at issue in a bench trial in the SDNY in 2016, following which the court issued an order ruling on numerous legal and factual issues and ap plying those rulings to 20 exemplar loans. The court further ordered that a lead master be appointed to apply the court’s rulings to the loans that remain at issue following the trial. In October 2017, UBS and certain holders of the RMBS in the Trustee Sui t entered into an agreement under which UBS has agreed to pay an aggregate of USD 543 million into the relevant RMBS trusts, plus certain attorneys’ fees. A portion of these settlement costs will be borne by other parties that indemnified UBS. The agreemen t is subject to the trustee for the RMBS trusts becoming a party thereto by 9 March 2018. The trustee for the RMBS trusts has evaluated the proposed settlement under the agreement be tween UBS and the RMBS holders and UBS has been in discussions with the tr ustee about the terms on which it would become a party to a settlement. Giving effect to a settlement of the Trustee Suit, UBS considers claims relating to substantially all loan repurchase demands to be resolved, and believes that new demands to repurchas e US residential mortgage loans are time-barred under a decision rendered by the New York Court of Appeals. Mortgage-related regulatory matters: In 2014, UBS received a subpoena from the US Attorney’s Office for the Eastern District of New York issued purs uant to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), which seeks documents and information related to UBS’s RMBS business from 2005 through 2007. In 2015, the Eastern District of New York identified a number of transact ions that are the focus of their inquiry, and subsequently provided a revised list of transactions. UBS has provided information in response to this subpoena. UBS has also received and responded to subpoenas from the New York State Attorney General (NYAG) and other state attorneys general relating to UBS’s RMBS business. In 2017, the NYAG identified a number of transactions that are the focus of its inquiry. In addition, UBS responded to inquiries from both the Special Inspector General for the Troubled Ass et Relief Program (SIGTARP) (who is working in conjunction with the US Attorney’s Office for Connecticut and the DOJ) and the SEC relating to trading practices in connection with purchases and sales of mortgage-backed securities in the secondary market fro m 2009 through 2014. UBS is cooperating with the authorities in these matters. Our balance sheet at 31 December 2017 reflected a provision with respect to matters described in this item 2 in an amount that UBS believes to be appropriate under the applicabl e accounting standard. As in the case of other matters for which we have established provisions, the future outflow of resources in respect of this matter cannot be determined with certainty based on currently available information and accordingly may ulti mately prove to be substantially greater (or may be less) than the provision that we have recognized. 3. Madoff In relation to the Bernard L. Madoff Investment Securities LLC (BMIS) investment fraud, UBS AG, UBS (Luxembourg) S.A. (now UBS Europe SE, Luxemb ourg branch) and certain other UBS subsidiaries have been subject to inquiries by a number of regulators, including the Swiss Financial Market Supervisory Authority ( FINMA) and the Luxembourg Commission de Surveillance du Secteur Financier (CSSF). Those inquiries concerned two third-party funds established under Luxembourg law, substantially all assets of which were with BMIS, as well as certain funds established in offshore jurisdictions with either direct or indirect exposure to BMIS. These funds faced severe losses, and the Luxembourg funds are in liquid ation. The documentation establishing both funds identifies UBS entities in various roles, including custodian, administrator, manager, distributor and promoter, and indicates that UBS employees serve as board members. In 2009 and 2010, the liquidators of the two Luxembourg funds filed claims against UBS entities, non-UBS entities and certain individuals, including current and former UBS employees, seeking amounts aggregating approximately EUR 2.1 billion, which includes amounts that the funds may be held l iable to pay the trustee for the liquidation of BMIS (BMIS Trustee). A large number of alleged beneficiaries have filed claims against UBS entities (and non-UBS entities) for purported losses relating to the Madoff fraud. The majority of these cases have been filed in Luxembourg, where decisions that the claims in eight test cases were inadmissible have been affirmed by th e Luxembourg Court of Appeal, and the Luxembourg Supreme Court has dismissed a further appeal in one of the test cases. In the US, the BMIS Trustee filed claims against UBS entities, among others, in relation to the two Luxembourg funds and one of the off shore funds. The total amount claimed against all defendants in these actions was not less than USD 2 billion. In 2014, the US Supreme Court rejected the BMIS Trustee’s motion for leave to appeal decisions dismissing all claims except those for the recover y of fraudulent conveyances and preference payments. In 2016, the Bankruptcy Court dismissed the remaining claims against the UBS entities. The BMIS Trustee appealed. In 2014, several claims, including a purported class action, were filed in the US by BMIS customers against UBS entities, asserting claims similar to those made by the BMIS Trustee, and seeking unspecified damages. These claims have either been voluntarily withdrawn or dismissed on the basis that the courts did not have jurisdiction to hear th e claims against the UBS entities. In 2016, the plaintiff in one of those claims appealed the dismissal. In February 2018, the United States Court of Appeals for the Second Circuit affirmed the dismissal of the plaintiff’s claim. 4. Puerto Rico Declines si nce 2013 in the market prices of Puerto Rico municipal bonds and of closed-end funds (funds) that are sole-managed and co-managed by UBS Trust Company of Puerto Rico and distributed by UBS Financial Services Incorporated of Puerto Rico (UBS PR) have led to multiple regulatory inquiries, as well as customer complaints and arbitrations with aggregate claimed damages of USD 2.4 billion, of which claims with aggregate claimed damages of USD 1.4 billion have been resolved through settlements, arbitration or with drawal of the claim. The claims are filed by clients in Puerto Rico who own the funds or Puerto Rico municipal bonds and / or who used their UBS account assets as collateral for UBS non-purpose loans; customer complaint and arbitration allegations include fraud, misrepresentation and unsuitability of the funds and of the loans. A shareholder derivative action was filed in 2014 against various UBS entities and current and certain former directors of the funds, alleging hundreds of millions of US dollars in l osses in the funds. In 2015, defendants’ motion to dismiss was denied. Defendants’ requests for permission to appeal that ruling were denied by the Puerto Rico Court of Appeals and the Puerto Rico Supreme Court. In 2014, a federal class action complaint al so was filed against various UBS entities, certain members of UBS PR senior management and the co-manager of certain of the funds, seeking damages for investor losses in the funds during the period from May 2008 through May 2014. In 2016, defendants’ motio n to dismiss was granted in part and denied in part. In 2015, a class action was filed in Puerto Rico state court against UBS PR seeking equitable relief in the form of a stay of any effort by UBS PR to collect on non-purpose loans it acquired from UBS Ban k USA in December 2013 based on plaintiffs’ allegation that the loans are not valid. The trial court denied defendant’s motion for summary judgment based on a forum selection clause in the loan agreements. The Puerto Rico Supreme Court reversed that decisi on and remanded the case back to the trial court for reconsideration. On reconsideration the trial court granted defendant’s motion and dismissed the action. In 2014, UBS reached a settlement with the Office of the Commissioner of Financial Institutions f or the Commonwealth of Puerto Rico (OCFI) in connection with OCFI’s examination of UBS’s operations from January 2006 through September 2013, pursuant to which UBS is paying up to an aggregate of USD 7.7 million in investor education contributions and rest itution. In 2015, the SEC and the Financial Industry Regulatory Authority (FINRA) announced settlements with UBS PR of their separate investigations stemming from the 2013 market events. Without admitting or denying the findings in either matter, UBS PR a greed in the SEC settlement to pay USD 15 million and USD 18.5 million in the FINRA matter. We also understand that the DOJ is conducting a criminal inquiry into the impermissible reinvestment of non-purpose loan proceeds. We are cooperating with the autho rities in this inquiry. In 2011, a purported derivative action was filed on behalf of the Employee Retirement System of the Commonwealth of Puerto Rico (System) against over 40 defendants, including UBS PR, which was named in connection with its underwriti ng and consulting services. Plaintiffs alleged that defendants violated their purported fiduciary duties and contractual obligations in connection with the issuance and underwriting of USD 3 billion of bonds by the System in 2008 and sought damages of over USD 800 million. In 2016, the court granted the System’s request to join the action as a plaintiff, but ordered that plaintiffs must file an amended complaint. In 2017, the court denied defendants’ motion to dismiss the amended complaint. Beginning in 2012, two federal class action complaints, which were subsequently consolidated, were filed against various UBS entities, certain closed-end funds and certain members of UBS PR senior management, seeking damages for investor losses in the funds during the period from January 2008 through May 2012. In 2016, the court denied plaintiffs’ motion for class c ertification. In March 2017, the US Court of Appeals for the First Circuit denied plaintiffs’ petition seeking permission to bring an interlocutory appeal challenging the denial of their motion for class certification. Beginning in 2015, certain agencies a nd public corporations of the Commonwealth of Puerto Rico (Commonwealth) defaulted on certain interest payments, in 2016, the Commonwealth defaulted on payments on its general obligation debt (GO Bonds), and in 2017 the Commonwealth defaulted on payments o n its debt backed by the Commonwealth’s Sales and Use Tax (COFINA Bonds) as well as on bonds issued by the Commonwealth’s Employee Retirement System (ERS Bonds). The funds hold significant amounts of both COFINA and ERS Bonds and the defaults on interest p ayments are expected to adversely affect dividends from the funds. Executive orders of the Governor that have diverted funds to pay for essential services instead of debt payments and stayed any action to enforce creditors’ rights on the Puerto Rico bonds continue to be in effect. In 2016, US federal legislation created an oversight board with power to oversee Puerto Rico’s finances and to restructure its debt. The oversight board is authorized to impose, and has imposed, a stay on exercise of creditors’ ri ghts. In May and June 2017, the oversight board placed the GO, COFINA and ERS Bonds, among others, into a bankruptcy-like proceeding under the supervision of a Federal District Judge as authorized by the oversight board’s enabling statute. These events, fu rther defaults, any further legislative action to create a legal means of restructuring Commonwealth obligations or to impose additional oversight on the Commonwealth’s finances, or any restructuring of the Commonwealth’s obligations may increase the numbe r of claims against UBS concerning Puerto Rico securities, as well as potential damages sought. Our balance sheet at 31 December 2017 reflected provisions with respect to matters described in this item 4 in amounts that UBS believes to be appropriate under the applicable accounting standard. As in the case of other matters for which we have established provisions, the future outflow of resources in respect of such matters cannot be determined with certainty based on currently available information and accor dingly may ultimately prove to be substantially greater (or may be less) than the provisions that we have recognized. 5. Foreign exchange, LIBOR and benchmark rates, and other trading practices Foreign exchange-related regulatory matters: Following an init ial media report in 2013 of widespread irregularities in the foreign exchange markets, UBS immediately commenced an internal review of its foreign exchange business, which includes our precious metals and related structured products businesses. Numerous au thorities commenced investigations concerning possible manipulation of foreign exchange markets and precious metals prices. In 2014 and 2015, UBS reached settlements with the UK Financial Conduct Authority (FCA) and the US Commodity Futures Trading Commiss ion (CFTC) in connection with their foreign exchange investigations, FINMA issued an order concluding its formal proceedings relating to UBS’s foreign exchange and precious metals businesses, and the Board of Governors of the Federal Reserve System (Federa l Reserve Board) and the Connecticut Department of Banking issued a Cease and Desist Order and assessed monetary penalties against UBS AG. In addition, the DOJ’s Criminal Division (Criminal Division) terminated the 2012 Non-Prosecution Agreement (NPA) with UBS AG related to UBS’s submissions of benchmark interest rates and UBS AG pleaded guilty to one count of wire fraud, paid a fine and is subject to probation through January 2020. In January 2018, UBS reached a settlement with the CFTC in connection with the CFTC ’ s p recious metals investigations. As part of that settlement, UBS paid a USD 15 million civil monetary penalty. UBS has ongoing obligations to cooperate with these authorities and to undertake certain remediation. UBS has also been granted conditi onal immunity by the Antitrust Division of the DOJ (Antitrust Division) and by authorities in other jurisdictions in connection with potential competition law violations relating to foreign exchange and precious metals businesses. Refer to Note 20b in the “Consolidated financial statements” section of the Annual Report 2016 for more information on regulatory actions related to foreign exchange and precious metals and grants of conditional immunity or leniency. Investigations relating to foreign exchange and precious metals matters by certain authorities remain ongoing notwithstanding these resolutions. Foreign exchange-related civil litigation: Putative class actions have been filed since 2013 in US federal courts and in other jurisdictions against UBS and o ther banks on behalf of putative classes of persons who engaged in foreign currency transactions with any of the defendant banks. They allege collusion by the defendants and assert claims under the antitrust laws and for unjust enrichment. In 2015, additio nal putative class actions were filed in federal court in New York against UBS and other banks on behalf of a putative class of persons who entered into or held any foreign exchange futures contracts and options on foreign exchange futures contracts since 2003. The complaints assert claims under the Commodity Exchange Act (CEA) and the US antitrust laws. In 2015, a consolidated complaint was filed on behalf of both putative classes of persons covered by the US federal court class actions described above. UB S has entered into a settlement agreement that would resolve all of these US federal court class actions. The agreement, which has been preliminarily approved by the court and is subject to final court approval, requires, among other things, that UBS pay a n aggregate of USD 141 million and provide cooperation to the settlement classes. A putative class action has been filed in federal court in New York against UBS and other banks on behalf of participants, beneficiaries and named fiduciaries of plans qualified under the Employee Retirement Income Security Act of 1974 (ERISA) for whom a defendant bank provided foreign currency exchange t ransactional services, exercised discretionary authority or discretionary control over management of such ERISA plan, or authorized or permitted the execution of any foreign currency exchange transactional services involving such plan’s assets. The complai nt asserts claims under ERISA. The parties filed a stipulation to dismiss the case with prejudice. The plaintiffs have appealed the dismissal. The appeals court heard oral argument in June 2017. In 2015, a putative class action was filed in federal court a gainst UBS and numerous other banks on behalf of a putative class of persons and businesses in the US who directly purchased foreign currency from the defendants and their co-conspirators for their own end use. That action was transferred to federal court in New York. In March 2017, the court granted UBS’s (and the other banks’) motions to dismiss the complaint. The plaintiffs filed an amended complaint in August 2017. In 2016, a putative class action was filed in federal court in New York against UBS and n umerous other banks on behalf of a putative class of persons and entities who had indirectly purchased foreign exchange instruments from a defendant or co-conspirator in the US. The complaint asserts claims under federal and state antitrust laws. In respon se to defendants’ motion to dismiss, plaintiffs agreed to dismiss their complaint. In April and June 20 |
UBS AG | |
Litigation Regulatory And Similar Matters [Line Items] | |
Disclosure Of Contingent Liabilities Explanatory | b) Litigati on, regulatory and similar matters The Group operates in a legal and regulatory environment that exposes it to significant litigation and similar risks arising from disputes and regulatory proceedings. As a result, UBS (which for purposes of this Note may refer to UBS Group AG and / or one or more of its subsidiaries, as applicable) is involved in various disputes and legal proceedings, including litigation, arbitration, and regulatory and criminal investigations. Such matters are subject to many uncertainties, and the outcome and the timing of resolution are often difficult to predict, particularly in the earlier stages of a case. There are also situations where the Group may enter into a settlement agreement. This may occur in ord er to avoid the expense, management distraction or reputational implications of continuing to contest liability, even for those matters for which the Group believes it should be exonerated. The uncertainties inherent in all such matters affect the amount a nd timing of any potential outflows for both matters with respect to which provisions have been established and other contingent liabilities. The Group makes provisions for such matters brought against it when, in the opinion of management after seeking le gal advice, it is more likely than not that the Group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required, and the amount can be reliably estimated. Where these factors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against the Group, but are nevertheless expected to be, based on the Group’s experience with similar asserted claims. If any of those conditions is not met, suc h matters result in contingent liabilities. If the amount of an obligation cannot be reliably estimated, a liability exists that is not recognized even if an outflow of resources is probable. Accordingly, no provision is established even if the potential o utflow of resources with respect to such matters could be significant. Specific litigation, regulatory and other matters are described below, including all such matters that management considers to be material and others that management believes to be of s ignificance due to potential financial, reputational and other effects. The amount of damages claimed, the size of a transaction or other information is provided where available and appropriate in order to assist users in considering the magnitude of poten tial exposures. In the case of certain matters below, we state that we have established a provision, and for the other matters, we make no such statement. When we make this statement and we expect disclosure of the amount of a provision to prejudice seriously our position with other parties in the matter because it would reveal what UBS believes to be the probable and reliably estimable outflow, we do not disclose that amount. In some cases we are subject to confidentiality obligations that preclude such disclosure. With respect to the matters for which we do not state whether we have established a provisi on, either (a) we have not established a provision, in which case the matter is treated as a contingent liability under the applicable accounting standard, or (b) we have established a provision but expect disclosure of that fact to prejudice seriously our position with other parties in the matter because it would reveal the fact that UBS believes an outflow of resources to be probable and reliably estimable. With respect to certain litigation, regulatory and similar matters for which we have established pr ovisions, we are able to estimate the expected timing of outflows. However, the aggregate amount of the expected outflows for those matters for which we are able to estimate expected timing is immaterial relative to our current and expected levels of liqui dity over the relevant time periods. The aggregate amount provisioned for litigation, regulatory and similar matters as a class is disclosed in the “Provisions” table in Note 20a above. It is not practicable to provide an aggregate estimate of liability fo r our litigation, regulatory and similar matters as a class of contingent liabilities. Doing so would require us to provide speculative legal assessments as to claims and proceedings that involve unique fact patterns or novel legal theories, that have not yet been initiated or are at early stages of adjudication, or as to which alleged damages have not been quantified by the claimants. Although we therefore cannot provide a numerical estimate of the future losses that could arise from litigation, regulatory and similar matters, we believe that the aggregate amount of possible future losses from this class that are more than remote substantially exceeds the level of current provisions. Litigation, regulatory and similar matters may also result in non-monetary penalties and consequences. For example, the Non-Prosecution Agreement (NPA) described in item 5 of this Note, which we entered into with the US Department of Justice (DOJ), Criminal Division, Fraud Section in connection with our submissions of benchmark interest rates, including, among others, the British Bankers’ Association London Interbank Offered Rate (LIBOR), was terminated by the DOJ based on its determination that we had committed a US crime in relation to foreign exchange matters. As a consequence , UBS AG pleaded guilty to one count of wire fraud for conduct in the LIBOR matter, paid a fine and is subject to probation through January 2020 . A guilty plea to, or conviction of, a crime could have material consequences for UBS. Resolution of regulatory proceedings may require us to obtain waivers of regulatory disqualifications to maintain certain operations, may entitle regulatory authorities to limit, suspend or terminate licenses and regulatory authorizations, and may permit financial market utilitie s to limit, suspend or terminate our participation in such utilities. Failure to obtain such waivers, or any limitation, suspension or termination of licenses, authorizations or participations, could have material consequences for UBS. The risk of loss ass ociated with litigation, regulatory and similar matters is a component of operational risk for purposes of determining our capital requirements. Information concerning our capital requirements and the calculation of operational risk for this purpose is inc luded in the “Capital management” section of this report. Provisions for litigation, regulatory and similar matters by business division and Corporate Center unit 1 CHF million Wealth Manage- ment Wealth Manage- ment Americas Personal & Corporate Banking Asset Manage- ment Investment Bank CC – Services CC – Group ALM CC – Non-core and Legacy Portfolio Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 292 425 78 5 616 259 0 1,585 3,261 2,983 Increase in provisions recognized in the income statement 30 158 3 6 8 248 0 229 682 856 Release of provisions recognized in the income statement (4) (12) (1) (9) 2 (49) (6) 0 (129) (209) (48) Provisions used in conformity with designated purpose (135) (207) (2) (1) (216) (262) 0 (406) (1,230) (554) Foreign currency translation / unwind of discount 24 (17) 2 0 (15) 1 0 (55) (59) 25 Balance at the end of the year 207 348 79 1 345 240 0 1,224 2,444 3,261 1 Provisions, if any, for the matters described in this Note are recorded in Wealth Management (item 3), Wealth Management Americas (item 4), the Investment Bank (item 7) and Corporate Center – Non-core and Legacy Portfolio (item 2). Provisions, if any, for the matters described in items 1 and 6 of this Note are allocated between Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this Note in item 5 are allocated between the Investment Bank, Corporate Center – Services and Corporate Center – Non-core and Legacy Portfolio. 2 In 2017, a release of CHF 5 million was recognized in Provisions for litigation, regulatory and similar matters, with a corresponding increase in Other provisions. 1. Inquiries regarding cross-border wealth management businesses Tax and regulatory authorities in a number of countries have made inquiries, served requests for information or examined employees located in their respective jurisdictions relating to the cross-border wealth management services provided by UBS and other financial institutions. It is possible that the implementation of automatic tax information exchange and other measures relating to cross-border provision of financial services could give rise to further inquiries in the future. UBS has received disclosure orders f rom the Swiss Federal Tax Administration (FTA) to transfer information based on requests for international administrative assistance in tax matters. The requests concern a number of UBS account numbers pertaining to current and former clients and are based on data from 2006 and 2008. UBS has taken steps to inform affected clients about the administrative assistance proceedings and their procedural rights, including the right to appeal. The requests are based on data received from the German authorities, who seized certain data related to UBS clients booked in Switzerland during their investigations and have apparently shared this data with other European countries. UBS expects additional countries to file similar requests. The Swiss Federal Administrative C ourt ruled in 2016 that in the administrative assistance proceedings related to a French bulk request, UBS has the right to appeal all final FTA client data disclosure orders. Since 2013, UBS (France) S.A. and UBS AG and certain former employees have been under investigation in France for alleged complicity in having illicitly solicited clients on French territory and regarding the laundering of proceeds of tax fraud and of banking and financial solicitation by unauthorized persons. In connection with this investigation, the investigating judges ordered UBS AG to provide bail (“ caution ”) of EUR 1.1 billion and UBS (France) S.A. to post bail of EUR 40 million, which was reduced on appeal to EUR 10 million. In February 2016, the investigating judges notified U BS AG and UBS (France) S.A. that they have closed their investigation. In July 2016, UBS AG and UBS (France) S.A. received the National Financial Prosecutor’s recommendation (“ réquisitoire ”). In March 2017, the investigating judges issued the trial order ( “ ordonnance de renvoi ”) that charges UBS AG and UBS (France) S.A., as well as various former employees, with illicit solicitation of clients on French territory and with participation in the laundering of the proceeds of tax fraud, and which transfers the case to court. The trial schedule has not yet been announced. In October 2017, the Investigation Chamber of the Court of Appeals decided that UBS (France) S.A. shall not be constituted as a civil party in the guilty plea proceedings against the former UBS (France) S.A. Head of Front Office. UBS (France) S.A. has appealed this decision to the French Supreme Court (“ Cour de cassation ”). In 2016, UBS was notified by the Belgian investigating judge that it is under formal investigation (“ inculpé ”) regarding th e laundering of proceeds of tax fraud and of banking, financial solicitation by unauthorized persons and serious tax fraud. In 2015, UBS received inquiries from the US Attorney’s Office for the Eastern District of New York and from the US Securities and Ex change Commission (SEC), which are investigating potential sales to US persons of bearer bonds and other unregistered securities in possible violation of the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and the registration requirements of the US securities laws. UBS is cooperating with the authorities in these investigations. In 2018, UBS was informed by the US Attorney ’ s Office and the SEC that they have closed their investigations and that they will not take any action . UBS has, and reportedl y numerous other financial institutions have, received inquiries from authorities concerning accounts relating to the Fédération Internationale de Football Association (FIFA) and other constituent soccer associations and related persons and entities. UBS i s cooperating with authorities in these inquiries. Our balance sheet at 31 December 2017 reflected provisions with respect to matters described in this item 1 in an amount that UBS believes to be appropriate under the applicable accounting standard. As in the case of other matters for which we have established provisions, the future outflow of resources in respect of such matters cannot be determined with certainty based on currently available information and accordingly may ultimately prove to be substanti ally greater (or may be less) than the provision that we have recognized. 2. Claims related to sales of residential mortgage-backed securities and mortgages From 2002 through 2007, prior to the crisis in the US residential loan market, UBS was a substantia l issuer and underwriter of US residential mortgage-backed securities (RMBS) and was a purchaser and seller of US residential mortgages. A subsidiary of UBS, UBS Real Estate Securities Inc. (UBS RESI), acquired pools of residential mortgage loans from orig inators and (through an affiliate) deposited them into securitization trusts. In this manner, from 2004 through 2007, UBS RESI sponsored approximately USD 80 billion in RMBS, based on the original principal balances of the securities issued. UBS RESI also sold pools of loans acquired from originators to third-party purchasers. These whole loan sales during the period 2004 through 2007 totaled approximately USD 19 billion in original principal balance. UBS was not a significant originator of US residential l oans. A branch of UBS originated approximately USD 1.5 billion in US residential mortgage loans during the period in which it was active from 2006 to 2008, and securitized less than half of these loans. Lawsuits related to contractual representations and warranties concerning mortgages and RMBS: When UBS acted as an RMBS sponsor or mortgage seller, it generally made certain representation s relating to the characteristics of the underlying loans. In the event of a material breach of these representations, UBS was in certain circumstances contractually obligated to repurchase the loans to which the representations related or to indemnify cer tain parties against losses. In 2012, certain RMBS trusts filed an action (Trustee Suit) in the US District Court for the Southern District of New York (SDNY) seeking to enforce UBS RESI’s obligation to repurchase loans in the collateral pools for three RM BS securitizations with an original principal balance of approximately USD 2 billion. Approximately 9,000 loans were at issue in a bench trial in the SDNY in 2016, following which the court issued an order ruling on numerous legal and factual issues and ap plying those rulings to 20 exemplar loans. The court further ordered that a lead master be appointed to apply the court’s rulings to the loans that remain at issue following the trial. In October 2017, UBS and certain holders of the RMBS in the Trustee Sui t entered into an agreement under which UBS has agreed to pay an aggregate of USD 543 million into the relevant RMBS trusts, plus certain attorneys’ fees. A portion of these settlement costs will be borne by other parties that indemnified UBS. The agreemen t is subject to the trustee for the RMBS trusts becoming a party thereto by 9 March 2018. The trustee for the RMBS trusts has evaluated the proposed settlement under the agreement be tween UBS and the RMBS holders and UBS has been in discussions with the tr ustee about the terms on which it would become a party to a settlement. Giving effect to a settlement of the Trustee Suit, UBS considers claims relating to substantially all loan repurchase demands to be resolved, and believes that new demands to repurchas e US residential mortgage loans are time-barred under a decision rendered by the New York Court of Appeals. Mortgage-related regulatory matters: In 2014, UBS received a subpoena from the US Attorney’s Office for the Eastern District of New York issued purs uant to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), which seeks documents and information related to UBS’s RMBS business from 2005 through 2007. In 2015, the Eastern District of New York identified a number of transact ions that are the focus of their inquiry, and subsequently provided a revised list of transactions. UBS has provided information in response to this subpoena. UBS has also received and responded to subpoenas from the New York State Attorney General (NYAG) and other state attorneys general relating to UBS’s RMBS business. In 2017, the NYAG identified a number of transactions that are the focus of its inquiry. In addition, UBS responded to inquiries from both the Special Inspector General for the Troubled Ass et Relief Program (SIGTARP) (who is working in conjunction with the US Attorney’s Office for Connecticut and the DOJ) and the SEC relating to trading practices in connection with purchases and sales of mortgage-backed securities in the secondary market fro m 2009 through 2014. UBS is cooperating with the authorities in these matters. Our balance sheet at 31 December 2017 reflected a provision with respect to matters described in this item 2 in an amount that UBS believes to be appropriate under the applicabl e accounting standard. As in the case of other matters for which we have established provisions, the future outflow of resources in respect of this matter cannot be determined with certainty based on currently available information and accordingly may ulti mately prove to be substantially greater (or may be less) than the provision that we have recognized. 3. Madoff In relation to the Bernard L. Madoff Investment Securities LLC (BMIS) investment fraud, UBS AG, UBS (Luxembourg) S.A. (now UBS Europe SE, Luxemb ourg branch) and certain other UBS subsidiaries have been subject to inquiries by a number of regulators, including the Swiss Financial Market Supervisory Authority ( FINMA) and the Luxembourg Commission de Surveillance du Secteur Financier (CSSF). Those inquiries concerned two third-party funds established under Luxembourg law, substantially all assets of which were with BMIS, as well as certain funds established in offshore jurisdictions with either direct or indirect exposure to BMIS. These funds faced severe losses, and the Luxembourg funds are in liquid ation. The documentation establishing both funds identifies UBS entities in various roles, including custodian, administrator, manager, distributor and promoter, and indicates that UBS employees serve as board members. In 2009 and 2010, the liquidators of the two Luxembourg funds filed claims against UBS entities, non-UBS entities and certain individuals, including current and former UBS employees, seeking amounts aggregating approximately EUR 2.1 billion, which includes amounts that the funds may be held l iable to pay the trustee for the liquidation of BMIS (BMIS Trustee). A large number of alleged beneficiaries have filed claims against UBS entities (and non-UBS entities) for purported losses relating to the Madoff fraud. The majority of these cases have been filed in Luxembourg, where decisions that the claims in eight test cases were inadmissible have been affirmed by th e Luxembourg Court of Appeal, and the Luxembourg Supreme Court has dismissed a further appeal in one of the test cases. In the US, the BMIS Trustee filed claims against UBS entities, among others, in relation to the two Luxembourg funds and one of the off shore funds. The total amount claimed against all defendants in these actions was not less than USD 2 billion. In 2014, the US Supreme Court rejected the BMIS Trustee’s motion for leave to appeal decisions dismissing all claims except those for the recover y of fraudulent conveyances and preference payments. In 2016, the Bankruptcy Court dismissed the remaining claims against the UBS entities. The BMIS Trustee appealed. In 2014, several claims, including a purported class action, were filed in the US by BMIS customers against UBS entities, asserting claims similar to those made by the BMIS Trustee, and seeking unspecified damages. These claims have either been voluntarily withdrawn or dismissed on the basis that the courts did not have jurisdiction to hear th e claims against the UBS entities. In 2016, the plaintiff in one of those claims appealed the dismissal. In February 2018, the United States Court of Appeals for the Second Circuit affirmed the dismissal of the plaintiff’s claim. 4. Puerto Rico Declines si nce 2013 in the market prices of Puerto Rico municipal bonds and of closed-end funds (funds) that are sole-managed and co-managed by UBS Trust Company of Puerto Rico and distributed by UBS Financial Services Incorporated of Puerto Rico (UBS PR) have led to multiple regulatory inquiries, as well as customer complaints and arbitrations with aggregate claimed damages of USD 2.4 billion, of which claims with aggregate claimed damages of USD 1.4 billion have been resolved through settlements, arbitration or with drawal of the claim. The claims are filed by clients in Puerto Rico who own the funds or Puerto Rico municipal bonds and / or who used their UBS account assets as collateral for UBS non-purpose loans; customer complaint and arbitration allegations include fraud, misrepresentation and unsuitability of the funds and of the loans. A shareholder derivative action was filed in 2014 against various UBS entities and current and certain former directors of the funds, alleging hundreds of millions of US dollars in l osses in the funds. In 2015, defendants’ motion to dismiss was denied. Defendants’ requests for permission to appeal that ruling were denied by the Puerto Rico Court of Appeals and the Puerto Rico Supreme Court. In 2014, a federal class action complaint al so was filed against various UBS entities, certain members of UBS PR senior management and the co-manager of certain of the funds, seeking damages for investor losses in the funds during the period from May 2008 through May 2014. In 2016, defendants’ motio n to dismiss was granted in part and denied in part. In 2015, a class action was filed in Puerto Rico state court against UBS PR seeking equitable relief in the form of a stay of any effort by UBS PR to collect on non-purpose loans it acquired from UBS Ban k USA in December 2013 based on plaintiffs’ allegation that the loans are not valid. The trial court denied defendant’s motion for summary judgment based on a forum selection clause in the loan agreements. The Puerto Rico Supreme Court reversed that decisi on and remanded the case back to the trial court for reconsideration. On reconsideration the trial court granted defendant’s motion and dismissed the action. In 2014, UBS reached a settlement with the Office of the Commissioner of Financial Institutions f or the Commonwealth of Puerto Rico (OCFI) in connection with OCFI’s examination of UBS’s operations from January 2006 through September 2013, pursuant to which UBS is paying up to an aggregate of USD 7.7 million in investor education contributions and rest itution. In 2015, the SEC and the Financial Industry Regulatory Authority (FINRA) announced settlements with UBS PR of their separate investigations stemming from the 2013 market events. Without admitting or denying the findings in either matter, UBS PR a greed in the SEC settlement to pay USD 15 million and USD 18.5 million in the FINRA matter. We also understand that the DOJ is conducting a criminal inquiry into the impermissible reinvestment of non-purpose loan proceeds. We are cooperating with the autho rities in this inquiry. In 2011, a purported derivative action was filed on behalf of the Employee Retirement System of the Commonwealth of Puerto Rico (System) against over 40 defendants, including UBS PR, which was named in connection with its underwriti ng and consulting services. Plaintiffs alleged that defendants violated their purported fiduciary duties and contractual obligations in connection with the issuance and underwriting of USD 3 billion of bonds by the System in 2008 and sought damages of over USD 800 million. In 2016, the court granted the System’s request to join the action as a plaintiff, but ordered that plaintiffs must file an amended complaint. In 2017, the court denied defendants’ motion to dismiss the amended complaint. Beginning in 2012, two federal class action complaints, which were subsequently consolidated, were filed against various UBS entities, certain closed-end funds and certain members of UBS PR senior management, seeking damages for investor losses in the funds during the period from January 2008 through May 2012. In 2016, the court denied plaintiffs’ motion for class c ertification. In March 2017, the US Court of Appeals for the First Circuit denied plaintiffs’ petition seeking permission to bring an interlocutory appeal challenging the denial of their motion for class certification. Beginning in 2015, certain agencies a nd public corporations of the Commonwealth of Puerto Rico (Commonwealth) defaulted on certain interest payments, in 2016, the Commonwealth defaulted on payments on its general obligation debt (GO Bonds), and in 2017 the Commonwealth defaulted on payments o n its debt backed by the Commonwealth’s Sales and Use Tax (COFINA Bonds) as well as on bonds issued by the Commonwealth’s Employee Retirement System (ERS Bonds). The funds hold significant amounts of both COFINA and ERS Bonds and the defaults on interest p ayments are expected to adversely affect dividends from the funds. Executive orders of the Governor that have diverted funds to pay for essential services instead of debt payments and stayed any action to enforce creditors’ rights on the Puerto Rico bonds continue to be in effect. In 2016, US federal legislation created an oversight board with power to oversee Puerto Rico’s finances and to restructure its debt. The oversight board is authorized to impose, and has imposed, a stay on exercise of creditors’ ri ghts. In May and June 2017, the oversight board placed the GO, COFINA and ERS Bonds, among others, into a bankruptcy-like proceeding under the supervision of a Federal District Judge as authorized by the oversight board’s enabling statute. These events, fu rther defaults, any further legislative action to create a legal means of restructuring Commonwealth obligations or to impose additional oversight on the Commonwealth’s finances, or any restructuring of the Commonwealth’s obligations may increase the numbe r of claims against UBS concerning Puerto Rico securities, as well as potential damages sought. Our balance sheet at 31 December 2017 reflected provisions with respect to matters described in this item 4 in amounts that UBS believes to be appropriate under the applicable accounting standard. As in the case of other matters for which we have established provisions, the future outflow of resources in respect of such matters cannot be determined with certainty based on currently available information and accor dingly may ultimately prove to be substantially greater (or may be less) than the provisions that we have recognized. 5. Foreign exchange, LIBOR and benchmark rates, and other trading practices Foreign exchange-related regulatory matters: Following an init ial media report in 2013 of widespread irregularities in the foreign exchange markets, UBS immediately commenced an internal review of its foreign exchange business, which includes our precious metals and related structured products businesses. Numerous au thorities commenced investigations concerning possible manipulation of foreign exchange markets and precious metals prices. In 2014 and 2015, UBS reached settlements with the UK Financial Conduct Authority (FCA) and the US Commodity Futures Trading Commiss ion (CFTC) in connection with their foreign exchange investigations, FINMA issued an order concluding its formal proceedings relating to UBS’s foreign exchange and precious metals businesses, and the Board of Governors of the Federal Reserve System (Federa l Reserve Board) and the Connecticut Department of Banking issued a Cease and Desist Order and assessed monetary penalties against UBS AG. In addition, the DOJ’s Criminal Division (Criminal Division) terminated the 2012 Non-Prosecution Agreement (NPA) with UBS AG related to UBS’s submissions of benchmark interest rates and UBS AG pleaded guilty to one count of wire fraud, paid a fine and is subject to probation through January 2020. In January 2018, UBS reached a settlement with the CFTC in connection with the CFTC ’ s p recious metals investigations. As part of that settlement, UBS paid a USD 15 million civil monetary penalty. UBS has ongoing obligations to cooperate with these authorities and to undertake certain remediation. UBS has also been granted conditi onal immunity by the Antitrust Division of the DOJ (Antitrust Division) and by authorities in other jurisdictions in connection with potential competition law violations relating to foreign exchange and precious metals businesses. Refer to Note 20b in the “Consolidated financial statements” section of the Annual Report 2016 for more information on regulatory actions related to foreign exchange and precious metals and grants of conditional immunity or leniency. Investigations relating to foreign exchange and precious metals matters by certain authorities remain ongoing notwithstanding these resolutions. Foreign exchange-related civil litigation: Putative class actions have been filed since 2013 in US federal courts and in other jurisdictions against UBS and o ther banks on behalf of putative classes of persons who engaged in foreign currency transactions with any of the defendant banks. They allege collusion by the defendants and assert claims under the antitrust laws and for unjust enrichment. In 2015, additio nal putative class actions were filed in federal court in New York against UBS and other banks on behalf of a putative class of persons who entered into or held any foreign exchange futures contracts and options on foreign exchange futures contracts since 2003. The complaints assert claims under the Commodity Exchange Act (CEA) and the US antitrust laws. In 2015, a consolidated complaint was filed on behalf of both putative classes of persons covered by the US federal court class actions described above. UB S has entered into a settlement agreement that would resolve all of these US federal court class actions. The agreement, which has been preliminarily approved by the court and is subject to final court approval, requires, among other things, that UBS pay a n aggregate of USD 141 million and provide cooperation to the settlement classes. A putative class action has been filed in federal court in New York against UBS and other banks on behalf of participants, beneficiaries and named fiduciaries of plans qualified under the Employee Retirement Income Security Act of 1974 (ERISA) for whom a defendant bank provided foreign currency exchange t ransactional services, exercised discretionary authority or discretionary control over management of such ERISA plan, or authorized or permitted the execution of any foreign currency exchange transactional services involving such plan’s assets. The complai nt asserts claims under ERISA. The parties filed a stipulation to dismiss the case with prejudice. The plaintiffs have appealed the dismissal. The appeals court heard oral argument in June 2017. In 2015, a putative class action was filed in federal court a gainst UBS and numerous other banks on behalf of a putative class of persons and businesses in the US who directly purchased foreign currency from the defendants and their co-conspirators for their own end use. That action was transferred to federal court in New York. In March 2017, the court granted UBS’s (and the other banks’) motions to dismiss the complaint. The plaintiffs filed an amended complaint in August 2017. In 2016, a putative class action was filed in federal court in New York against UBS and n umerous other banks on behalf of a putative class of persons and entities who had indirectly purchased foreign exchange instruments from a defendant or co-conspirator in the US. The complaint asserts claims under federal and state antitrust laws. In respon se to defendants’ motion to dismiss, plaintiffs agreed to dismiss their complaint. In April and June 20 |
Other liabilities
Other liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | Note 21 Other liabilities CHF million 31.12.17 31.12.16 Prime brokerage payables 1 29,646 31,973 Amounts due under unit-linked investment contracts 11,523 9,286 Compensation-related liabilities 7,674 7,421 of which: accrued expenses 2,670 2,423 of which: Deferred Contingent Capital Plan 1,993 1,625 of which: other deferred compensation plans 2,086 2,107 of which: net defined benefit pension and post-employment liabilities 2 925 1,266 Third-party interest in consolidated investment funds 254 701 Settlement and clearing accounts 1,395 1,012 Current and deferred tax liabilities 3 912 949 VAT and other tax payables 415 503 Deferred income 150 168 Accrued interest expenses 1,513 1,553 Other accrued expenses 2,444 2,448 Liabilities of disposal group held for sale 4 0 5,213 Other 1,138 793 Total other liabilities 57,064 62,020 1 Prime brokerage services include clearance, settlement, custody, financing and portfolio reporting services for corporate clients trading across multiple asset classes. Prime brokerage payables are mainly comprised of client securities financing and deposits. 2 Refer to Note 26 for more information. 3 Refer to Note 8 for more information. 4 Refer to Note 30 for more information. |
UBS AG | |
Disclosure Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | Note 21 Other liabilities CHF million 31.12.17 31.12.16 Prime brokerage payables 1 29,646 31,973 Amounts due under unit-linked investment contracts 11,523 9,286 Compensation-related liabilities 4,909 5,256 of which: accrued expenses 2,372 2,367 of which: other deferred compensation plans 1,613 1,623 of which: net defined benefit pension and post-employment liabilities 2 925 1,266 Third-party interest in consolidated investment funds 269 751 Settlement and clearing accounts 1,380 1,011 Current and deferred tax liabilities 3 844 911 VAT and other tax payables 378 487 Deferred income 150 168 Accrued interest expenses 1,533 1,571 Other accrued expenses 2,105 2,427 Liabilities of disposal group held for sale 4 0 5,213 Other 2,252 1,390 Total other liabilities 54,990 60,443 1 Prime brokerage services include clearance, settlement, custody, financing and portfolio reporting services for corporate clients trading across multiple asset classes. Prime brokerage payables are mainly comprised of client securities financing and deposits. 2 Refer to Note 26 for more information. 3 Refer to Note 8 for more information. 4 Refer to Note 30 for more information. |
Fair value measurement
Fair value measurement | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Measurement [Line Items] | |
Disclosure Of Fair Value Measurement Explanatory | Note 22 Fair value measurement This Note provides fair value measurement information for both financial and non-financial instruments and is structured as follows: a) Valuation principles b) Valuation governance c) Fair value hierarchy d) Valuation adjustments e) Transfers between Level 1 and Level 2 f) Level 3 instruments: valuation techniques and inputs g) Level 3 instruments: sensitivity to changes in unobservable input assumptions h) Level 3 instruments: movements during the period i) Financial instruments not measured at fair value a) Valuation principles Fair value is defined as the price that would be received for the sale of an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market (or most advantageous market, in the absence of a principal market) as of the measurement date. In measuring fair value, the Group uses various valuation approaches and applies a hierarchy for prices and inputs that maximizes the use of observable market data, if available. All financial and non-financial assets and liabilities measured or disclosed at fair value are categorized into one of three fair value hierarchy levels. In certain cases, the inputs used to measure fair value may fall within different levels of the fair value hierarchy. F or disclosure purposes, the level in the hierarchy within which the instrument is classified in its entirety is based on the lowest level input that is significant to the position’s fair value measurement: Level 1 – quoted prices (unadjusted) in active mar kets for identical assets and liabilities; Level 2 – valuation techniques for which all significant inputs are, or are based on, observable market data; or Level 3 – valuation techniques for which significant inputs are not based on observable market data. If available, fair values are determined using quoted prices in active markets for identical assets or liabilities. An active market is one in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricin g data on an ongoing basis. Assets and liabilities that are quoted and traded in an active market are valued at the currently quoted price multiplied by the number of units of the instrument held. Where the market for a financial instrument or non-financia l asset or liability is not active, fair value is established using a valuation technique, including pricing models. Valuation techniques involve the use of estimates, the extent of which depends on the complexity of the instrument and the availability of market-based data. Valuation adjustments may be made to allow for additional factors, including model, liquidity, credit and funding risks, which are not explicitly captured within the valuation technique, but which would nevertheless be considered by mark et participants when establishing a price. The limitations inherent in a particular valuation technique are considered in the determination of an asset or liability’s classification within the fair value hierarchy. Many cash instruments and over-the-counte r (OTC) derivative contracts have bid and offer prices that can be observed in the marketplace. Bid prices reflect the highest price that a party is willing to pay for an asset. Offer prices represent the lowest price that a party is willing to accept for an asset. In general, long positions are measured at a bid price and short positions at an offer price, reflecting the prices at which the instruments could be transferred under normal market conditions. Offsetting positions in the same financial instrumen t are marked at the mid-price within the bid-offer spread. Generally, the unit of account for a financial instrument is the individual instrument, and UBS applies valuation adjustments at an individual instrument level, consistent with that unit of account . However, if certain conditions are met, UBS may estimate the fair value of a portfolio of financial assets and liabilities with substantially similar and offsetting risk exposures on the basis of the net open risks. For transactions where the valuation t echnique used to measure fair value requires significant inputs that are not based on observable market data, the financial instrument is initially recognized at the transaction price. This initial recognition amount may differ from the fair value obtained using the valuation technique. Any such difference is deferred and not recognized in the income statement and referred to as deferred day-1 profit or loss. Refer to Note 22 d for more information b) Valuation governance UBS’s fair value measurement and model governance framework includes numerous controls and other procedural safeguards that are intended to maximize the quality of fair value measurements reported in the financial statements. New products and valuation techniques must be reviewed and app roved by key stakeholders from r isk and f inance control functions. Responsibility for the ongoing measurement of financial and non-f inancial instruments at fair value resides with the business divisions. In carrying out their valuation responsibilities, the businesses are required to consider the availability and quality of external market data and to provide justification and rational e for their fair value estimates. Fair va lue estimates are validated by r isk and f inance control functions, which are independent of the business divisions. Independent price verification is performed by F inance through benchmarking the business divisions ’ fair value estimates with observable market prices and other independent sources. Controls and a governance framework are in place and are intended to ensure the quality of third-party pricing sources where used. For instruments where valuation models ar e used to determine fair value, independent valuation a nd model control groups within F inance and R isk Control evaluate UBS’s models on a regular basis, including valuation and model input parameters as well as pricing. As a result of the valuation controls employ ed, valuation adjustments may be made to the business divisions’ estimates of fair value to align with independent market data and the relevant accounting standard. Refer to Note 22 d for more information c) Fair value hierarchy The table below provides the fair value hierarchy classification of financial and non-financial assets and liabilit ies measured at fair value. The narrative that follows describes the different product types, valuation techniques used in measuring their fair value, including significant valuation inputs and assumptions used, and the factors determining their classifica tion within the fair value hierarchy Determination of fair values from quoted market prices or valuation techniques 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets measured at fair value on a recurring basis Financial assets held for trading 2 108,962 15,211 1,972 126,144 76,044 14,292 1,689 92,025 of which: Government bills / bonds 11,935 918 0 12,854 10,500 1,319 0 11,820 Corporate and municipal bonds 37 7,974 552 8,563 58 6,638 591 7,287 Loans 0 3,346 501 3,847 0 1,356 681 2,037 Investment fund units 7,223 1,839 571 9,632 6,114 3,521 63 9,698 Asset-backed securities 0 194 174 368 0 470 215 685 Equity instruments 79,274 186 105 79,565 50,913 397 65 51,375 Financial assets for unit-linked investment contracts 10,492 755 69 11,316 8,459 591 74 9,123 Positive replacement values 458 116,221 1,549 118,227 434 155,428 2,549 158,411 of which: Interest rate contracts 1 43,913 135 44,049 8 57,703 278 57,988 Credit derivative contracts 0 2,266 550 2,816 0 2,562 1,313 3,875 Foreign exchange contracts 207 46,748 189 47,143 263 75,607 222 76,092 Equity / index contracts 16 21,541 675 22,232 1 17,274 729 18,003 Commodity contracts 0 1,727 0 1,727 0 2,269 8 2,277 Financial assets designated at fair value 23,032 34,481 1,419 58,933 39,641 23,632 2,079 65,353 of which: Government bills / bonds 22,062 3,900 0 25,961 39,439 4,361 0 43,799 Corporate and municipal bonds 765 20,702 0 21,467 15 16,860 0 16,875 Loans (including structured loans) 0 9,385 758 10,143 0 2,043 1,195 3,238 Structured reverse repurchase and securities borrowing agreements 0 118 173 291 0 40 644 684 Other 205 377 489 1,071 187 329 240 756 Financial assets available for sale 3,000 5,157 507 8,665 6,299 8,891 486 15,676 of which: Government bills / bonds 2,733 133 0 2,866 5,444 450 0 5,894 Corporate and municipal bonds 121 1,060 9 1,189 646 4,939 12 5,596 Investment fund units 0 70 115 185 0 51 126 177 Asset-backed securities 0 3,880 0 3,880 0 3,381 0 3,381 Equity instruments 146 16 384 546 204 71 336 611 Non-financial assets Precious metals and other physical commodities 4,563 0 0 4,563 4,583 0 0 4,583 Assets measured at fair value on a non-recurring basis Other assets 3 0 54 42 95 5,060 131 56 5,248 Total assets measured at fair value 140,015 171,125 5,489 316,629 132,062 202,377 6,860 341,298 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities measured at fair value on a recurring basis Trading portfolio liabilities 26,037 4,309 117 30,463 18,807 3,898 119 22,824 of which: Government bills / bonds 5,153 256 0 5,409 5,573 648 0 6,221 Corporate and municipal bonds 50 3,453 35 3,538 12 2,927 37 2,976 Investment fund units 541 263 16 820 484 91 20 595 Equity instruments 20,293 336 66 20,695 12,738 227 62 13,026 Negative replacement values 398 112,928 2,807 116,133 539 149,255 4,016 153,810 of which: Interest rate contracts 5 38,196 186 38,387 12 51,990 475 52,476 Credit derivative contracts 0 3,196 601 3,797 0 3,269 1,538 4,807 Foreign exchange contracts 213 45,150 122 45,485 274 71,668 148 72,089 Equity / index contracts 42 24,803 1,896 26,741 1 20,254 1,854 22,109 Commodity contracts 0 1,561 1 1,562 0 2,040 1 2,041 Financial liabilities designated at fair value 0 41,376 12,826 54,202 2 44,007 11,008 55,017 of which: Issued debt instruments 0 38,617 10,885 49,502 0 40,242 9,688 49,930 Over-the-counter debt instruments 0 2,385 1,930 4,315 2 3,611 1,050 4,663 Structured repurchase agreements 0 372 4 376 0 130 266 395 Loan commitments and guarantees 0 2 7 9 0 25 5 29 Other liabilities – amounts due under unit-linked investment contracts 0 11,523 0 11,523 0 9,286 0 9,286 Liabilities measured at fair value on a non-recurring basis Other liabilities 3 0 1 0 1 0 5,213 0 5,213 Total liabilities measured at fair value 26,435 170,138 15,750 212,323 19,347 211,660 15,143 246,150 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets held for trading exclude precious metals and other physical commodities. 3 Other assets and other liabilities primarily consist of assets held for sale as well as assets and liabilities of a disposal group held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. Valuation techniques Valuation techniques are used to value positions for which a market price is not available from market sources. This includes certain less liquid debt and equity instruments, certain exchange-traded derivatives and all derivatives transacted in the OTC market. UBS uses widely recognized valuation techniques for determining the fair value of financial and non-financial in struments that are not actively traded and quoted. The most frequently applied valuation techniques include discounted value of expected cash flows, relative value and option pricing methodologies. Discounted value of expected cash flows is a valuation tec hnique that measures fair value using estimated expected future cash flows from assets or liabilities and then discounts these cash flows using a discount rate or discount margin that reflects the credit and / or funding spreads required by the market for instruments with similar risk and liquidity profiles to produce a present value. When using such valuation techniques, expected future cash flows are estimated using an observed or implied market price for the future cash flows or by using industry standar d cash flow projection models. The discount factors within the calculation are generated using industry standard yield curve modeling techniques and models. Relative value models measure fair value based on the market prices of equivalent or comparable ass ets or liabilities, making adjustments for differences between the characteristics of the observed instrument and the instrument being valued. Option pricing models incorporate assumptions regarding the behavior of future price movements of an underlying r eferenced asset or assets to generate a probability-weighted future expected payoff for the option. The resulting probability-weighted expected payoff is then discounted using discount factors generated from industry standard yield curve modeling technique s and models. The option pricing model may be implemented using a closed-form analytical formula or other mathematical techniques (e.g., binomial tree or Monte Carlo simulation). Where available, valuation techniques use market-observable assumptions and i nputs. If such data is not available, inputs may be derived by reference to similar assets in active markets, from recent prices for comparable transactions or from other observable market data. In such cases, the inputs selected are based on historical ex perience and practice for similar or analogous instruments, derivation of input levels based on similar products with observable price levels and knowledge of current market conditions and valuation approaches. For more complex instruments and instruments not traded in an active market, fair values may be estimated using a combination of observed transaction prices, consensus pricing services and relevant quotes. Consideration is given to the nature of the quotes (e.g., indicative or firm) and the relations hip of recently evidenced market activity to the prices provided by consensus pricing services. UBS also uses internally developed models, which are typically based on valuation methods and techniques recognized as standard within the industry. Assumptions and inputs used in valuation techniques include benchmark interest rate curves, credit and funding spreads used in estimating discount rates, bond and equity prices, equity index prices, foreign exchange rates, levels of market volatility and correlation. Refer to Note 22f for more information. The discount curves used by the Group incorporate the funding and credit characteristics of the instruments to which they are applied. Financial instruments excluding derivatives: product description, valuation and classification in the fair value hierarchy Government bills and bonds Product description: government bills and bonds include fixed-rate, floating-rate and inflation-linked bills and bonds issued by sovereign governments. Valuation: these instruments are g enerally valued using prices obtained directly from the market. Instruments that cannot be priced directly using active- market data are valued using discounted cash flow valuation techniques that incorporate market data for similar government instruments. Fair value hierarchy: g overnment bills and bonds are generally traded in active markets with prices that can be obtained directly from these markets, resulting in classification as Level 1, while the remaining positions are classified as Level 2. Corporat e and municipal bonds Product description: corporate bonds include senior, junior and subordinated debt issued by corporate entities. Municipal bonds are issued by state and local governments. While most instruments are standard fixed- or floating-rate sec urities, some may have more complex coupon or embedded option features. Valuation: corporate and municipal bonds are generally valued using prices obtained directly from the market for the security, or similar securities, adjusted for seniority, maturity and liquidity. When prices are not available, instruments are valued using discounted cash flow valuation techniques incorporating the credit spread of the issuer or similar issuers. For convertible bonds where no directly comparable price is available, is suances may be priced using a convertible bond model. Fair value hierarchy: corporate and municipal bonds are generally classified as Level 1 or Level 2 depending on the depth of trading activity behind price sources. Level 3 instruments have no suitable p ricing information available and also cannot be referenced to other securities issued by the same issuer. Therefore, such instruments are measured based on price levels for similar issuers adjusted for relative tenor and issuer quality Traded loans and loans designated at fair value Product description: these instruments include fixed-rate loans, corporate loans, recently originated commercial real estate loans and contingent lending transactions. Valuation: loans are valued directly using market prices that reflect recent transactions or quoted dealer prices where available . Where no market price data is available, loans are valued using relative value benchmarking using pricing derived from debt instruments in comparable entities or different products in the same entity, or by using a credit default swap valuation technique, which requires inputs for credit spreads, credit recovery rates and interest rates. Recently originated commercial real estate loans are measured using a securitization approach based on rating agency guidelines. The valuation of the contingent lending transactions is dependent on actuarial mortality levels and actuarial life insurance policy lapse rates. Mortality and lapse rate assumptions are based on external actuarial estimations for large homogene ous pools, and contingencies are derived from a range relative to the actuarially expected amount. Fair value hierarchy: instruments with suitably deep and liquid pricing information are classified as Level 2, while any positions requiring the use of valua tion techniques, or for which the price sources have insufficient trading depth, are classified as Level 3. Investment fund units Product description: investment fund units are pools of assets, generally equity instruments and bonds, broken down to redeema ble units. Valuation: investment fund units are predominantly exchange-traded, with readily available quoted prices in liquid markets. Where market prices are not available, fair value may be measured using net asset values (NAV), taking into account any r estrictions imposed upon redemption. Fair value hierarchy: listed units are classified as Level 1, provided there is sufficient trading activity to justify active - market classification, while other positions are classified as Level 2. Positions for which NAV is not available or that are not redeemable at the measurement date or shortly thereafter are classified as Level 3. Asset-backed securities (ABS) Product description: ABS include residential mortgage-backed securities (RMBS), commercial mortgage-back ed securities (CMBS), other asset-backed securities (ABS) and collateralized debt obligations (CDO) and are instruments generally issued through the process of securitization of underlying interest-bearing assets. Valuation: for liquid securities, the val uation process will use trade and price data, updated for movements in market levels between the time of trading and the time of valuation. Less liquid instruments are measured using discounted expected cash flows incorporating price data for instruments o r indices with similar risk profiles. Inputs to discounted expected cash flow techniques include asset prepayment rates, discount margin or discount yields, asset default rates and asset loss on default severity. Fair value hierarchy: RMBS, CMBS and ABS a re generally classified as Level 2. However, if significant inputs are unobservable, or i f market or fundamental data is not available, they are classified as Level 3. Equity instruments Product description: equity instruments include stocks and shares, p rivate equity positions and units held in hedge funds. Valuation: listed equity instruments are generally valued using prices obtained directly from the market. Unlisted equity holdings, including private equity positions, are initially marked at their tra nsaction price and are revalued when reliable evidence of price movement becomes available or when the position is deemed to be impaired. Fair value for units held in hedge funds is measured based on their published NAV, taking into account any restriction s imposed upon redemption. Fair value hierarchy: the majority of equity securities are actively traded on public stock exchanges where quoted prices are readily and regularly available, resulting in Level 1 classification. Units held in hedge funds are cla ssified as Level 2, except for positions for which publish ed NAV is not available or that are not redeemable at the measurement date or shortly thereafter, in which case such positions are classified as Level 3. Financial assets for unit-linked investment contracts Product description: unit-linked investment contracts allow investors to invest in a pool of assets through issued investment units. Valuation: the majority of assets are listed on exchanges and fair values are determined using quoted prices. F air value hierarchy: most assets are classified as Level 1 if actively traded, or Level 2 if trading is not active. However, instruments for which prices are not readily available are classified as Level 3. Structured (reverse) repurchase agreements Produ ct description: structured (reverse) repurchase agreements are securities purchased under resale agreements and securities sold under repurchase agreements. Valuation: t hese instruments are valued using discounted expected cash flow techniques. The discoun t rate applied is based on funding curves that are specific to the collateral eligibility terms for the contract in question. Fair value hierarchy: collateral terms for these positions are often not standard and therefore funding spread levels used for valuation purposes cannot be observed in the market. As a result, these positions are classified as Level 2 and Level 3. Financial liabilities designated at fair value Product description: debt instruments, primarily comprised of equity-, rates- and credit-linked issued notes, which are held at fair value under the fair value option. These instruments are tailored specifically to the holder’s risk or investment appetite with structured coupons or payoffs. Valuation: the risk management and the valuation approaches for these instruments are closely aligned with the equivalent derivatives business and the underlying risk, and the valuat ion techniques used for this component are the same as the relevant valuation techniques described below. For example, equity-linked notes should be referenced to equity / index contracts and credit-linked notes should be referenced to credit derivative co ntacts. Fair value hierarchy: observability is closely aligned with the equivalent derivatives business and the underlying risk. Refer to Note 18 for more information on financial liabilities designated at fair value Refer to Note 22d for more information on own credit adjustments related to financial liabilities designated at fair value Amounts due under unit-linked investment contracts Product description: the financial liability represents the amounts due to unit holders. Valuation: the fair values of i nvestment contract liabilities are determined by reference to the fair value of the corresponding assets. Fair value hierarchy: the liabilities themselves are not actively traded, but are mainly referenced to instruments that are actively traded and are t herefore classified as Level 2. Derivative instruments: product description, valuation and classification in the fair value hierarchy The curves used for discounting expected cash flows in the valuation of collateralized derivatives reflect the funding ter ms associated with the relevant collateral arrangement for the instrument being valued. These collateral arrangements differ across counterparties with respect to the eligible currency and interest terms of the collateral. The majority of collateralized de rivatives are measured using a discount curve that is based on funding rates derived from overnight interest in the cheapest eligible currency for the respective counterparty collateral agreement. Uncollateralized and partially collateralized derivatives a re discounted using the LIBOR (or equivalent) curve for the currency of the instrument. As described in Note 22 d , the fair value of uncollateralized and partially collateralized derivatives is then adjusted by CVA, DVA and FVA as applicable, to reflect an estimation of the effect of counterparty credit risk, UBS’s own credit risk and funding costs and benefits. Interest rate contracts Product description: interest rate swap contracts include interest rate swaps, basis swaps, cross-currency swaps, inflation swaps and interest rate forwards, often referred to as forward-rate agreements (FRA). Interest rate option contracts include caps and floors, swaptions, swaps with complex payoff profiles and other more complex interest rate options. Valuation: interest r ate swap contracts are valued by estimating future interest cash flows and discounting those cash flows using a rate that reflects the appropriate funding rate for the position being measured. The yield curves used to estimate future index levels and disco unt rates are generated using market standard yield curve models using interest rates associated with current market activity. The key inputs to the models are interest rate swap rates, FRA rates, short-term interest rate futures prices, basis swap spreads and inflation swap rates. Interest rate option contracts are valued using various market standard option models, using inputs that include interest rate yield curves, inflation curves, volatilities and correlations. The volatility and correlation inputs w ithin the models are implied from marke t data based on market- observed prices for standard option instruments trading within the market. Option models used to value more exotic products have a number of model parameter inputs that require calibration to en able the exotic model to price standard option instruments to the price levels observed in the market. When the maturity of the interest rate swap or option contract exceeds the term for which standard market quotes are observable for a significant input p arameter, the contracts are valued by extrapolation from the last observable point using standard assumptions or by reference to another observable comparable input parameter to represent a suitable proxy for that portion of the term. Fair value hierarchy: the majority of interest rate swaps are classified as Level 2 as the standard market contracts that form the inputs for yield curve models are generally traded in active and observable markets. Options are generally treated as Level 2 as the calibration p rocess enables the model o utput to be validated to active- market levels. Models calibrated in this way are then used to revalue the portfolio of both standard options as well as more exotic products. In most cases, there are active and observable markets f or the standard market instruments that form the inputs for yield curve models as well as the financial instruments from which volatility and correlation inputs are derived. Exotic options for which appropriate volatility or correlation input levels cannot be implied from observable market data are classified as Level 3. Interest rate swap or option contracts are classified as Level 3 when the term exceeds standard market observable quotes. Credit derivative contracts Product description: a credit derivative is a financial instrument that transfers credit risk related to a single underlying entity, a portfolio of underlying entities or a pool of securitized referenced assets. Credit derivative products include credit default swaps (CDS) on single names, indices, bespoke portfolios and securitized products, plus first to default swaps and certain total return swaps (TRS). Valuation: credit deri vative contracts are valued using industry standard models based primarily on market credit spreads, upfront pricing points and implied recovery rates. Where a derivative credit spread is not directly available , it may be derived from the price of the refer ence cash bond. Correlation is an additional input for certain portfolio credit derivatives. Asset-backed credit derivatives are valued using a similar valuation technique to the underlying security with an adjustment to reflect the funding differences bet ween cash and synthetic form. Inputs include prepayment rates, default rates, loss severity, discount margin / rate. Fair value hierarchy classification: single entity and portfolio credit derivative contracts are classified as Level 2 when credit spreads, recovery rates and correlations are determined from actively traded observable market data. Where the underlying reference name(s) are not actively traded and the correlation cannot be directly mapped to actively traded tranche instruments, these contract s are classified as Level 3. Asset-backed credit derivatives follow the characteristics of the underlying security and are therefore distributed across Level 2 and Level 3. Foreign exchange contracts Product description: this includes open spot and forward foreign exchange (FX) contracts and OTC FX option contracts. OTC FX option contracts include standard call and put options, options with multiple exercise dates, path-dependent options, options with averaging features, options with discontinuous payoff ch aracteristics, options on a number of underlying FX rates and multi-dimensional FX option contracts, which have a dependency on multiple FX pairs. Valuation: open spot FX contracts are valued using the FX spot rate observed in the market. Forward FX contra cts are valued using the FX spot rate adjusted for forward pricing points observed from standard market-based sources. OTC FX option contracts are valued using market standard option valuation models. The models used for shorter-dated options (i.e., maturi ties of five years or less) tend to be different than those used for longer-dated options because the models needed for longer-dated OTC FX contracts require additional consideration of interest rate and FX rate interdependency. Inputs to the option valuat ion models include spot FX rates, FX forward points, FX volatilities, interest rate yield curves, interest rate volatilities and correlations. The inputs for volatility and correlation are implied through the calibration of observed prices for standard opt ion contracts trading within the market. The valuation for multi -dimensional FX options uses a multi-local volatility model, which is calibrated to the observed FX volatilities for all relevant FX pairs. Fair value hierarchy: the markets for both FX spo t and FX forward pricing points are both actively traded and observable and therefore such FX contracts are generally classified as Level 2. A significant proportion of OTC FX option contracts are classified as Level 2 as inputs are derived mostly from sta ndard market contracts traded in active and observable markets. OTC FX option contracts classified as Level 3 include multi -dimensional FX options and long-dated FX exotic option contracts where there is no active market from which to derive volatility or correlation inputs. The inputs used to value these OTC FX option contracts are calculated using consensus pricing services without an underlying principal market, historical asset prices or by extrapolation. Equity / index contracts Product description: equity / index contracts are equity forward contracts and equity option contracts. Equity option contracts include market standard single or basket stock or index call and put options as well as equity option contracts with more complex features. Valuatio n: equity forward contracts have a single stock or index underlying and are valued using market standard models. The key inputs to the models are stock prices, estimated dividend rates and equity funding rates (which are implied from prices of forward cont racts observed in the market). Estimated cash flows are then discounted using market st |
UBS AG | |
Fair Value Measurement [Line Items] | |
Disclosure Of Fair Value Measurement Explanatory | Note 22 Fair value measurement This Note provides fair value measurement information for both financial and non-financial instruments and is structured as follows: a) Valuation principles b) Valuation governance c) Fair value hierarchy d) Valuation adjustments e) Transfers between Level 1 and Level 2 f) Level 3 instruments: valuation techniques and inputs g) Level 3 instruments: sensitivity to changes in unobservable input assumptions h) Level 3 instruments: movements during the period i) Financial instruments not measured at fair value a) Valuation principles Fair value is defined as the price that would be received for the sale of an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market (or most advantageous market, in the absence of a principal market) as of the measurement date. In measuring fair value, the Group uses various valuation approaches and applies a hierarchy for prices and inputs that maximizes the use of observable market data, if available. All financial and non-financial assets and liabilities measured or disclosed at fair value are categorized into one of three fair value hierarchy levels. In certain cases, the inputs used to measure fair value may fall within different levels of the fair value hierarchy. F or disclosure purposes, the level in the hierarchy within which the instrument is classified in its entirety is based on the lowest level input that is significant to the position’s fair value measurement: Level 1 – quoted prices (unadjusted) in active mar kets for identical assets and liabilities; Level 2 – valuation techniques for which all significant inputs are, or are based on, observable market data; or Level 3 – valuation techniques for which significant inputs are not based on observable market data. If available, fair values are determined using quoted prices in active markets for identical assets or liabilities. An active market is one in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricin g data on an ongoing basis. Assets and liabilities that are quoted and traded in an active market are valued at the currently quoted price multiplied by the number of units of the instrument held. Where the market for a financial instrument or non-financia l asset or liability is not active, fair value is established using a valuation technique, including pricing models. Valuation techniques involve the use of estimates, the extent of which depends on the complexity of the instrument and the availability of market-based data. Valuation adjustments may be made to allow for additional factors, including model, liquidity, credit and funding risks, which are not explicitly captured within the valuation technique, but which would nevertheless be considered by mark et participants when establishing a price. The limitations inherent in a particular valuation technique are considered in the determination of an asset or liability’s classification within the fair value hierarchy. Many cash instruments and over-the-counte r (OTC) derivative contracts have bid and offer prices that can be observed in the marketplace. Bid prices reflect the highest price that a party is willing to pay for an asset. Offer prices represent the lowest price that a party is willing to accept for an asset. In general, long positions are measured at a bid price and short positions at an offer price, reflecting the prices at which the instruments could be transferred under normal market conditions. Offsetting positions in the same financial instrumen t are marked at the mid-price within the bid-offer spread. Generally, the unit of account for a financial instrument is the individual instrument, and UBS applies valuation adjustments at an individual instrument level, consistent with that unit of account . However, if certain conditions are met, UBS may estimate the fair value of a portfolio of financial assets and liabilities with substantially similar and offsetting risk exposures on the basis of the net open risks. For transactions where the valuation t echnique used to measure fair value requires significant inputs that are not based on observable market data, the financial instrument is initially recognized at the transaction price. This initial recognition amount may differ from the fair value obtained using the valuation technique. Any such difference is deferred and not recognized in the income statement and referred to as deferred day-1 profit or loss. Refer to Note 22 d for more information b) Valuation governance UBS’s fair value measurement and model governance framework includes numerous controls and other procedural safeguards that are intended to maximize the quality of fair value measurements reported in the financial statements. New products and valuation techniques must be reviewed and app roved by key stakeholders from r isk and f inance control functions. Responsibility for the ongoing measurement of financial and non-f inancial instruments at fair value resides with the business divisions. In carrying out their valuation responsibilities, the businesses are required to consider the availability and quality of external market data and to provide justification and rational e for their fair value estimates. Fair va lue estimates are validated by r isk and f inance control functions, which are independent of the business divisions. Independent price verification is performed by F inance through benchmarking the business divisions ’ fair value estimates with observable market prices and other independent sources. Controls and a governance framework are in place and are intended to ensure the quality of third-party pricing sources where used. For instruments where valuation models ar e used to determine fair value, independent valuation a nd model control groups within F inance and R isk Control evaluate UBS’s models on a regular basis, including valuation and model input parameters as well as pricing. As a result of the valuation controls employ ed, valuation adjustments may be made to the business divisions’ estimates of fair value to align with independent market data and the relevant accounting standard. Refer to Note 22 d for more information c) Fair value hierarchy The table below provides the fair value hierarchy classification of financial and non-financial assets and liabilit ies measured at fair value. The narrative that follows describes the different product types, valuation techniques used in measuring their fair value, including significant valuation inputs and assumptions used, and the factors determining their classifica tion within the fair value hierarchy Determination of fair values from quoted market prices or valuation techniques 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets measured at fair value on a recurring basis Financial assets held for trading 2 108,963 15,309 1,972 126,244 76,046 14,377 1,689 92,112 of which: Government bills / bonds 11,935 918 0 12,854 10,500 1,319 0 11,820 Corporate and municipal bonds 37 8,072 552 8,662 58 6,722 591 7,371 Loans 0 3,346 501 3,847 0 1,356 681 2,037 Investment fund units 7,223 1,839 571 9,632 6,114 3,521 63 9,698 Asset-backed securities 0 194 174 368 0 470 215 685 Equity instruments 79,276 186 105 79,566 50,916 397 65 51,378 Financial assets for unit-linked investment contracts 10,492 755 69 11,316 8,459 591 74 9,123 Positive replacement values 458 116,222 1,549 118,229 434 155,428 2,549 158,411 of which: Interest rate contracts 1 43,913 135 44,049 8 57,703 278 57,988 Credit derivative contracts 0 2,266 550 2,816 0 2,562 1,313 3,875 Foreign exchange contracts 207 46,749 189 47,145 263 75,607 222 76,092 Equity / index contracts 16 21,541 675 22,232 1 17,274 729 18,003 Commodity contracts 0 1,727 0 1,727 0 2,269 8 2,277 Financial assets designated at fair value 23,032 34,104 1,419 58,556 39,641 23,304 2,079 65,024 of which: Government bills / bonds 22,062 3,900 0 25,961 39,439 4,361 0 43,799 Corporate and municipal bonds 765 20,702 0 21,467 15 16,860 0 16,875 Loans (including structured loans) 0 9,385 758 10,143 0 2,043 1,195 3,238 Structured reverse repurchase and securities borrowing agreements 0 118 173 291 0 40 644 684 Other 205 0 489 694 187 0 240 427 Financial assets available for sale 3,000 5,157 507 8,665 6,299 8,891 486 15,676 of which: Government bills / bonds 2,733 133 0 2,866 5,444 450 0 5,894 Corporate and municipal bonds 121 1,060 9 1,189 646 4,939 12 5,596 Investment fund units 0 70 115 185 0 51 126 177 Asset-backed securities 0 3,880 0 3,880 0 3,381 0 3,381 Equity instruments 146 16 384 546 204 71 336 611 Non-financial assets Precious metals and other physical commodities 4,563 0 0 4,563 4,583 0 0 4,583 Assets measured at fair value on a non-recurring basis Other assets 3 0 54 42 95 5,060 131 56 5,248 Total assets measured at fair value 140,017 170,848 5,489 316,353 132,064 202,132 6,860 341,056 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities measured at fair value on a recurring basis Trading portfolio liabilities 26,037 4,309 117 30,463 18,808 3,898 119 22,825 of which: Government bills / bonds 5,153 256 0 5,409 5,573 648 0 6,221 Corporate and municipal bonds 50 3,453 35 3,538 12 2,927 37 2,976 Investment fund units 541 263 16 820 484 91 20 595 Equity instruments 20,293 336 66 20,695 12,740 227 62 13,028 Negative replacement values 398 112,929 2,807 116,134 539 149,255 4,016 153,810 of which: Interest rate contracts 5 38,196 186 38,387 12 51,990 475 52,476 Credit derivative contracts 0 3,196 601 3,797 0 3,269 1,538 4,807 Foreign exchange contracts 213 45,151 122 45,486 274 71,668 148 72,089 Equity / index contracts 42 24,803 1,896 26,741 1 20,254 1,854 22,109 Commodity contracts 0 1,561 1 1,562 0 2,040 1 2,041 Financial liabilities designated at fair value 0 41,376 12,826 54,202 2 44,007 11,008 55,017 of which: Issued debt instruments 0 38,617 10,885 49,502 0 40,242 9,688 49,930 Over-the-counter debt instruments 0 2,385 1,930 4,315 2 3,611 1,050 4,663 Structured repurchase agreements 0 372 4 376 0 130 266 395 Loan commitments and guarantees 0 2 7 9 0 25 5 29 Other liabilities – amounts due under unit-linked investment contracts 0 11,523 0 11,523 0 9,286 0 9,286 Liabilities measured at fair value on a non-recurring basis Other liabilities 3 0 1 0 1 0 5,213 0 5,213 Total liabilities measured at fair value 26,435 170,139 15,750 212,324 19,349 211,660 15,143 246,152 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets held for trading exclude precious metals and other physical commodities. 3 Other assets and other liabilities primarily consist of assets held for sale as well as assets and liabilities of a disposal group held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. Valuation techniques Valuation techniques are used to value positions for which a market price is not available from market sources. This includes certain less liquid debt and equity instruments, certain exchange-traded derivatives and all derivatives transacted in the OTC market. UBS uses widely recognized valuation techniques for determining the fair value of financial and non-financial in struments that are not actively traded and quoted. The most frequently applied valuation techniques include discounted value of expected cash flows, relative value and option pricing methodologies. Discounted value of expected cash flows is a valuation tec hnique that measures fair value using estimated expected future cash flows from assets or liabilities and then discounts these cash flows using a discount rate or discount margin that reflects the credit and / or funding spreads required by the market for instruments with similar risk and liquidity profiles to produce a present value. When using such valuation techniques, expected future cash flows are estimated using an observed or implied market price for the future cash flows or by using industry standar d cash flow projection models. The discount factors within the calculation are generated using industry standard yield curve modeling techniques and models. Relative value models measure fair value based on the market prices of equivalent or comparable ass ets or liabilities, making adjustments for differences between the characteristics of the observed instrument and the instrument being valued. Option pricing models incorporate assumptions regarding the behavior of future price movements of an underlying r eferenced asset or assets to generate a probability-weighted future expected payoff for the option. The resulting probability-weighted expected payoff is then discounted using discount factors generated from industry standard yield curve modeling technique s and models. The option pricing model may be implemented using a closed-form analytical formula or other mathematical techniques (e.g., binomial tree or Monte Carlo simulation). Where available, valuation techniques use market-observable assumptions and i nputs. If such data is not available, inputs may be derived by reference to similar assets in active markets, from recent prices for comparable transactions or from other observable market data. In such cases, the inputs selected are based on historical ex perience and practice for similar or analogous instruments, derivation of input levels based on similar products with observable price levels and knowledge of current market conditions and valuation approaches. For more complex instruments and instruments not traded in an active market, fair values may be estimated using a combination of observed transaction prices, consensus pricing services and relevant quotes. Consideration is given to the nature of the quotes (e.g., indicative or firm) and the relations hip of recently evidenced market activity to the prices provided by consensus pricing services. UBS also uses internally developed models, which are typically based on valuation methods and techniques recognized as standard within the industry. Assumptions and inputs used in valuation techniques include benchmark interest rate curves, credit and funding spreads used in estimating discount rates, bond and equity prices, equity index prices, foreign exchange rates, levels of market volatility and correlation. Refer to Note 22f for more information. The discount curves used by the Group incorporate the funding and credit characteristics of the instruments to which they are applied. Financial instruments excluding derivatives: product description, valuation and classification in the fair value hierarchy Government bills and bonds Product description: government bills and bonds include fixed-rate, floating-rate and inflation-linked bills and bonds issued by sovereign governments. Valuation: these instruments are g enerally valued using prices obtained directly from the market. Instruments that cannot be priced directly using active- market data are valued using discounted cash flow valuation techniques that incorporate market data for similar government instruments. Fair value hierarchy: g overnment bills and bonds are generally traded in active markets with prices that can be obtained directly from these markets, resulting in classification as Level 1, while the remaining positions are classified as Level 2. Corporat e and municipal bonds Product description: corporate bonds include senior, junior and subordinated debt issued by corporate entities. Municipal bonds are issued by state and local governments. While most instruments are standard fixed- or floating-rate sec urities, some may have more complex coupon or embedded option features. Valuation: corporate and municipal bonds are generally valued using prices obtained directly from the market for the security, or similar securities, adjusted for seniority, maturity and liquidity. When prices are not available, instruments are valued using discounted cash flow valuation techniques incorporating the credit spread of the issuer or similar issuers. For convertible bonds where no directly comparable price is available, is suances may be priced using a convertible bond model. Fair value hierarchy: corporate and municipal bonds are generally classified as Level 1 or Level 2 depending on the depth of trading activity behind price sources. Level 3 instruments have no suitable p ricing information available and also cannot be referenced to other securities issued by the same issuer. Therefore, such instruments are measured based on price levels for similar issuers adjusted for relative tenor and issuer quality Traded loans and loans designated at fair value Product description: these instruments include fixed-rate loans, corporate loans, recently originated commercial real estate loans and contingent lending transactions. Valuation: loans are valued directly using market prices that reflect recent transactions or quoted dealer prices where available . Where no market price data is available, loans are valued using relative value benchmarking using pricing derived from debt instruments in comparable entities or different products in the same entity, or by using a credit default swap valuation technique, which requires inputs for credit spreads, credit recovery rates and interest rates. Recently originated commercial real estate loans are measured using a securitization approach based on rating agency guidelines. The valuation of the contingent lending transactions is dependent on actuarial mortality levels and actuarial life insurance policy lapse rates. Mortality and lapse rate assumptions are based on external actuarial estimations for large homogene ous pools, and contingencies are derived from a range relative to the actuarially expected amount. Fair value hierarchy: instruments with suitably deep and liquid pricing information are classified as Level 2, while any positions requiring the use of valua tion techniques, or for which the price sources have insufficient trading depth, are classified as Level 3. Investment fund units Product description: investment fund units are pools of assets, generally equity instruments and bonds, broken down to redeema ble units. Valuation: investment fund units are predominantly exchange-traded, with readily available quoted prices in liquid markets. Where market prices are not available, fair value may be measured using net asset values (NAV), taking into account any r estrictions imposed upon redemption. Fair value hierarchy: listed units are classified as Level 1, provided there is sufficient trading activity to justify active - market classification, while other positions are classified as Level 2. Positions for which NAV is not available or that are not redeemable at the measurement date or shortly thereafter are classified as Level 3. Asset-backed securities (ABS) Product description: ABS include residential mortgage-backed securities (RMBS), commercial mortgage-back ed securities (CMBS), other asset-backed securities (ABS) and collateralized debt obligations (CDO) and are instruments generally issued through the process of securitization of underlying interest-bearing assets. Valuation: for liquid securities, the val uation process will use trade and price data, updated for movements in market levels between the time of trading and the time of valuation. Less liquid instruments are measured using discounted expected cash flows incorporating price data for instruments o r indices with similar risk profiles. Inputs to discounted expected cash flow techniques include asset prepayment rates, discount margin or discount yields, asset default rates and asset loss on default severity. Fair value hierarchy: RMBS, CMBS and ABS a re generally classified as Level 2. However, if significant inputs are unobservable, or i f market or fundamental data is not available, they are classified as Level 3. Equity instruments Product description: equity instruments include stocks and shares, p rivate equity positions and units held in hedge funds. Valuation: listed equity instruments are generally valued using prices obtained directly from the market. Unlisted equity holdings, including private equity positions, are initially marked at their tra nsaction price and are revalued when reliable evidence of price movement becomes available or when the position is deemed to be impaired. Fair value for units held in hedge funds is measured based on their published NAV, taking into account any restriction s imposed upon redemption. Fair value hierarchy: the majority of equity securities are actively traded on public stock exchanges where quoted prices are readily and regularly available, resulting in Level 1 classification. Units held in hedge funds are cla ssified as Level 2, except for positions for which publish ed NAV is not available or that are not redeemable at the measurement date or shortly thereafter, in which case such positions are classified as Level 3. Financial assets for unit-linked investment contracts Product description: unit-linked investment contracts allow investors to invest in a pool of assets through issued investment units. Valuation: the majority of assets are listed on exchanges and fair values are determined using quoted prices. F air value hierarchy: most assets are classified as Level 1 if actively traded, or Level 2 if trading is not active. However, instruments for which prices are not readily available are classified as Level 3. Structured (reverse) repurchase agreements Produ ct description: structured (reverse) repurchase agreements are securities purchased under resale agreements and securities sold under repurchase agreements. Valuation: t hese instruments are valued using discounted expected cash flow techniques. The discoun t rate applied is based on funding curves that are specific to the collateral eligibility terms for the contract in question. Fair value hierarchy: collateral terms for these positions are often not standard and therefore funding spread levels used for valuation purposes cannot be observed in the market. As a result, these positions are classified as Level 2 and Level 3. Financial liabilities designated at fair value Product description: debt instruments, primarily comprised of equity-, rates- and credit-linked issued notes, which are held at fair value under the fair value option. These instruments are tailored specifically to the holder’s risk or investment appetite with structured coupons or payoffs. Valuation: the risk management and the valuation approaches for these instruments are closely aligned with the equivalent derivatives business and the underlying risk, and the valuat ion techniques used for this component are the same as the relevant valuation techniques described below. For example, equity-linked notes should be referenced to equity / index contracts and credit-linked notes should be referenced to credit derivative co ntacts. Fair value hierarchy: observability is closely aligned with the equivalent derivatives business and the underlying risk. Refer to Note 18 for more information on financial liabilities designated at fair value Refer to Note 22d for more information on own credit adjustments related to financial liabilities designated at fair value Amounts due under unit-linked investment contracts Product description: the financial liability represents the amounts due to unit holders. Valuation: the fair values of i nvestment contract liabilities are determined by reference to the fair value of the corresponding assets. Fair value hierarchy: the liabilities themselves are not actively traded, but are mainly referenced to instruments that are actively traded and are t herefore classified as Level 2. Derivative instruments: product description, valuation and classification in the fair value hierarchy The curves used for discounting expected cash flows in the valuation of collateralized derivatives reflect the funding ter ms associated with the relevant collateral arrangement for the instrument being valued. These collateral arrangements differ across counterparties with respect to the eligible currency and interest terms of the collateral. The majority of collateralized de rivatives are measured using a discount curve that is based on funding rates derived from overnight interest in the cheapest eligible currency for the respective counterparty collateral agreement. Uncollateralized and partially collateralized derivatives a re discounted using the LIBOR (or equivalent) curve for the currency of the instrument. As described in Note 22 d , the fair value of uncollateralized and partially collateralized derivatives is then adjusted by CVA, DVA and FVA as applicable, to reflect an estimation of the effect of counterparty credit risk, UBS’s own credit risk and funding costs and benefits. Interest rate contracts Product description: interest rate swap contracts include interest rate swaps, basis swaps, cross-currency swaps, inflation swaps and interest rate forwards, often referred to as forward-rate agreements (FRA). Interest rate option contracts include caps and floors, swaptions, swaps with complex payoff profiles and other more complex interest rate options. Valuation: interest r ate swap contracts are valued by estimating future interest cash flows and discounting those cash flows using a rate that reflects the appropriate funding rate for the position being measured. The yield curves used to estimate future index levels and disco unt rates are generated using market standard yield curve models using interest rates associated with current market activity. The key inputs to the models are interest rate swap rates, FRA rates, short-term interest rate futures prices, basis swap spreads and inflation swap rates. Interest rate option contracts are valued using various market standard option models, using inputs that include interest rate yield curves, inflation curves, volatilities and correlations. The volatility and correlation inputs w ithin the models are implied from marke t data based on market- observed prices for standard option instruments trading within the market. Option models used to value more exotic products have a number of model parameter inputs that require calibration to en able the exotic model to price standard option instruments to the price levels observed in the market. When the maturity of the interest rate swap or option contract exceeds the term for which standard market quotes are observable for a significant input p arameter, the contracts are valued by extrapolation from the last observable point using standard assumptions or by reference to another observable comparable input parameter to represent a suitable proxy for that portion of the term. Fair value hierarchy: the majority of interest rate swaps are classified as Level 2 as the standard market contracts that form the inputs for yield curve models are generally traded in active and observable markets. Options are generally treated as Level 2 as the calibration p rocess enables the model o utput to be validated to active- market levels. Models calibrated in this way are then used to revalue the portfolio of both standard options as well as more exotic products. In most cases, there are active and observable markets f or the standard market instruments that form the inputs for yield curve models as well as the financial instruments from which volatility and correlation inputs are derived. Exotic options for which appropriate volatility or correlation input levels cannot be implied from observable market data are classified as Level 3. Interest rate swap or option contracts are classified as Level 3 when the term exceeds standard market observable quotes. Credit derivative contracts Product description: a credit derivative is a financial instrument that transfers credit risk related to a single underlying entity, a portfolio of underlying entities or a pool of securitized referenced assets. Credit derivative products include credit default swaps (CDS) on single names, indices, bespoke portfolios and securitized products, plus first to default swaps and certain total return swaps (TRS). Valuation: credit deri vative contracts are valued using industry standard models based primarily on market credit spreads, upfront pricing points and implied recovery rates. Where a derivative credit spread is not directly available , it may be derived from the price of the refer ence cash bond. Correlation is an additional input for certain portfolio credit derivatives. Asset-backed credit derivatives are valued using a similar valuation technique to the underlying security with an adjustment to reflect the funding differences bet ween cash and synthetic form. Inputs include prepayment rates, default rates, loss severity, discount margin / rate. Fair value hierarchy classification: single entity and portfolio credit derivative contracts are classified as Level 2 when credit spreads, recovery rates and correlations are determined from actively traded observable market data. Where the underlying reference name(s) are not actively traded and the correlation cannot be directly mapped to actively traded tranche instruments, these contract s are classified as Level 3. Asset-backed credit derivatives follow the characteristics of the underlying security and are therefore distributed across Level 2 and Level 3. Foreign exchange contracts Product description: this includes open spot and forward foreign exchange (FX) contracts and OTC FX option contracts. OTC FX option contracts include standard call and put options, options with multiple exercise dates, path-dependent options, options with averaging features, options with discontinuous payoff ch aracteristics, options on a number of underlying FX rates and multi-dimensional FX option contracts, which have a dependency on multiple FX pairs. Valuation: open spot FX contracts are valued using the FX spot rate observed in the market. Forward FX contra cts are valued using the FX spot rate adjusted for forward pricing points observed from standard market-based sources. OTC FX option contracts are valued using market standard option valuation models. The models used for shorter-dated options (i.e., maturi ties of five years or less) tend to be different than those used for longer-dated options because the models needed for longer-dated OTC FX contracts require additional consideration of interest rate and FX rate interdependency. Inputs to the option valuat ion models include spot FX rates, FX forward points, FX volatilities, interest rate yield curves, interest rate volatilities and correlations. The inputs for volatility and correlation are implied through the calibration of observed prices for standard opt ion contracts trading within the market. The valuation for multi -dimensional FX options uses a multi-local volatility model, which is calibrated to the observed FX volatilities for all relevant FX pairs. Fair value hierarchy: the markets for both FX spo t and FX forward pricing points are both actively traded and observable and therefore such FX contracts are generally classified as Level 2. A significant proportion of OTC FX option contracts are classified as Level 2 as inputs are derived mostly from sta ndard market contracts traded in active and observable markets. OTC FX option contracts classified as Level 3 include multi -dimensional FX options and long-dated FX exotic option contracts where there is no active market from which to derive volatility or correlation inputs. The inputs used to value these OTC FX option contracts are calculated using consensus pricing services without an underlying principal market, historical asset prices or by extrapolation. Equity / index contracts Product description: equity / index contracts are equity forward contracts and equity option contracts. Equity option contracts include market standard single or basket stock or index call and put options as well as equity option contracts with more complex features. Valuatio n: equity forward contracts have a single stock or index underlying and are valued using market standard models. The key inputs to the models are stock prices, estimated dividend rates and equity funding rates (which are implied from prices of forward cont racts observed in the market). Estimated cash flows are then discounted using market standard |
Restricted financial assets
Restricted financial assets | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Restricted Financial Assets [Line Items] | |
Restricted Assets Disclosure Text Block | Note 23 Restricted and transferred financial assets This Note provides information on restricted financial assets (Note 23 a ), transfers of financial assets (Note 23 b and 23 c ) and financial assets that are received as collateral with the right to resell or repledge these assets (Note 23 d ). a) Restricted financial assets Restricted financial assets consist of assets pledged as collateral against an existing liability or contingent liabi lity and other assets that are otherwise explicitly restricted such that they cannot be used to secure funding. Financial assets are mainly pledged as collateral in securities lending transactions, in repurchase transactions, against loans from Swiss mort gage institutions and in connection with the issuance of covered bonds. The Group generally enters into repurchase and securities lending arrangements under standard market agreement s. For securities lending, the cash received as collateral may be more or less than the fair value of the securities l oaned, depending on the nature of the transaction . For repurchase agreements, the fair value of the collateral sold under an agreement to repurchase is generally in excess of the cash borrowed. Pledged mortgage l oans serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances of CHF 12,457 million as of 31 December 2017 ( 31 December 2016 : CHF 14,137 million). Other restricted financial assets include assets prot ected under client asset segregation rules, assets held by the Group’s insurance entities to back related liabilities to the policy holders, assets held in certain jurisdictions to comply with explicit minimum local asset maintenance requirements and asset s held in consolidated bankruptcy remote entities such as certain investment funds and other structured entities. The carrying value of the liabilities associated with these other restricted financial assets is generally equal to the carrying value of the assets, with the exception of assets held to comply with local asset maintenance requirements , for which the associated liabilities are greater. UBS Group AG and its subsidiaries are , in certain cases, subject to regulatory requirements that affect the tr ansfer of dividends and capital within the Group. C ertain regulated subsidiaries are required to maintain capital and / or liquidity to comply with local regulations and may be subject to prudential limitations by regulators that limit the amount of funds that they can distribute or otherwise transfer. Supervisory authorities generally have discretion to impose higher requirements or to otherwise limit the activities of subsidiaries. Supervisory authorities also may require entities to measure capital and l everage ratios on a stressed basis , such as the Federal Reserve Board’s Comprehensive Capital Analysis and Review (CCAR) process that affects UBS Americas Holding LLC, and may limit the ability of the entity to engage in new activities or take capital acti ons based on the results of those tests. Non-regulated subsidiaries are generally not subject to such requirements and transfer restrictions. However, restrictions can also be the result of different legal, regulatory, contractual, entity - or country-speci fic arrangements and / or requirements. Restricted financial assets CHF million 31.12.17 31.12.16 Financial assets pledged as collateral Trading portfolio assets 46,219 36,549 of which: assets pledged as collateral that may be sold or repledged by counterparties 35,363 30,260 Loans 1 17,631 19,887 Financial assets designated at fair value 170 776 of which: assets pledged as collateral that may be sold or repledged by counterparties 170 636 Total financial assets pledged as collateral 2 64,020 57,213 Other restricted financial assets Due from banks 3,280 2,625 Reverse repurchase agreements 0 658 Trading portfolio assets 12,273 12,129 Cash collateral receivables on derivative instruments 3,822 4,329 Loans 1,256 958 Financial assets designated at fair value 2,602 328 Financial assets available for sale 246 247 Other 95 5,195 Total other restricted financial assets 23,573 26,470 Total financial assets pledged and other restricted financial assets 87,593 83,683 1 All related to mortgage loans that serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances. Of these pledged mortgage loans, approximately CHF 2.1 billion for 31 December 2017 (31 December 2016: approximately CHF 1.9 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements. 2 Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2017: CHF 2.5 billion; 31 December 2016: CHF 4.7 billion). |
UBS AG | |
Disclosure Restricted Financial Assets [Line Items] | |
Restricted Assets Disclosure Text Block | Note 23 Restricted and transferred financial assets This Note provides information on restricted financial assets (Note 23 a ), transfers of financial assets (Note 23 b and 23 c ) and financial assets that are received as collateral with the right to resell or repledge these assets (Note 23 d ). a) Restricted financial assets Restricted financial assets consist of assets pledged as collateral against an existing liability or contingent liabi lity and other assets that are otherwise explicitly restricted such that they cannot be used to secure funding. Financial assets are mainly pledged as collateral in securities lending transactions, in repurchase transactions, against loans from Swiss mort gage institutions and in connection with the issuance of covered bonds. The Group generally enters into repurchase and securities lending arrangements under standard market agreement s. For securities lending, the cash received as collateral may be more or less than the fair value of the securities l oaned, depending on the nature of the transaction . For repurchase agreements, the fair value of the collateral sold under an agreement to repurchase is generally in excess of the cash borrowed. Pledged mortgage l oans serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances of CHF 12,457 million as of 31 December 2017 ( 31 December 2016 : CHF 14,137 million). Other restricted financial assets include assets prot ected under client asset segregation rules, assets held by the Group’s insurance entities to back related liabilities to the policy holders, assets held in certain jurisdictions to comply with explicit minimum local asset maintenance requirements and asset s held in consolidated bankruptcy remote entities such as certain investment funds and other structured entities. The carrying value of the liabilities associated with these other restricted financial assets is generally equal to the carrying value of the assets, with the exception of assets held to comply with local asset maintenance requirements , for which the associated liabilities are greater. UBS Group AG and its subsidiaries are , in certain cases, subject to regulatory requirements that affect the tr ansfer of dividends and capital within the Group. C ertain regulated subsidiaries are required to maintain capital and / or liquidity to comply with local regulations and may be subject to prudential limitations by regulators that limit the amount of funds that they can distribute or otherwise transfer. Supervisory authorities generally have discretion to impose higher requirements or to otherwise limit the activities of subsidiaries. Supervisory authorities also may require entities to measure capital and l everage ratios on a stressed basis , such as the Federal Reserve Board’s Comprehensive Capital Analysis and Review (CCAR) process that affects UBS Americas Holding LLC, and may limit the ability of the entity to engage in new activities or take capital acti ons based on the results of those tests. Non-regulated subsidiaries are generally not subject to such requirements and transfer restrictions. However, restrictions can also be the result of different legal, regulatory, contractual, entity - or country-speci fic arrangements and / or requirements. Restricted financial assets CHF million 31.12.17 31.12.16 Financial assets pledged as collateral Trading portfolio assets 46,257 36,549 of which: assets pledged as collateral that may be sold or repledged by counterparties 35,363 30,260 Loans 1 17,631 19,887 Financial assets designated at fair value 170 776 of which: assets pledged as collateral that may be sold or repledged by counterparties 170 636 Total financial assets pledged as collateral 2 64,059 57,213 Other restricted financial assets Due from banks 3,280 2,625 Reverse repurchase agreements 0 658 Trading portfolio assets 12,273 12,129 Cash collateral receivables on derivative instruments 3,822 4,329 Loans 1,256 958 Financial assets designated at fair value 2,225 0 Financial assets available for sale 246 247 Other 95 5,195 Total other restricted financial assets 23,196 26,141 Total financial assets pledged and other restricted financial assets 87,255 83,354 1 All related to mortgage loans that serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances. Of these pledged mortgage loans, approximately CHF 2.1 billion for 31 December 2017 (31 December 2016: approximately CHF 1.9 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements. 2 Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2017: CHF 2.5 billion; 31 December 2016: CHF 4.7 billion). |
Transferred financial assets th
Transferred financial assets that are not derecognized in their entirety | 12 Months Ended |
Dec. 31, 2017 | |
Transferred Financial Assets That Are Not Derecognized In Their Entirety [Line Items] | |
Disclosure Of Transfers Of Financial Assets Explanatory | b) Transferred financial assets that are not derecognized in their entirety The table below presents information for financial assets that have been transferred but are subject to continued recognition in full, as w ell as recognized liabilities associated with those transferred assets. Transferred financial assets subject to continued recognition in full CHF million 31.12.17 31.12.16 Carrying value of transferred assets Carrying value of associated liabilities recognized on-balance sheet Carrying value of transferred assets Carrying value of associated liabilities recognized on-balance sheet Trading portfolio assets that may be sold or repledged by counterparties 35,363 12,942 30,260 11,260 relating to securities lending and repurchase agreements in exchange for cash received 13,145 12,942 11,410 11,260 relating to securities lending agreements in exchange for securities received 21,137 0 17,341 0 relating to other financial asset transfers 1,081 0 1,509 0 Financial assets designated at fair value that may be sold or repledged by counterparties 170 169 636 630 Total financial assets transferred 35,533 13,111 30,896 11,890 Transactions in which financial assets are transferred, but continue to be recognized in their entirety on UBS’s balance sheet include securities lending and repurchase agreements as well as other financial asset transfers. Repur chase and securities lending arrangements are, for the most part, conducted under standard market agreements and are undertaken with counterparties subject to UBS’s normal credit risk control processes. Refer to Note 1a item 3e for more information on rep urchase agreements and securities lending agreements As of 31 December 2017, approximately one- third of the transferred financial assets were trading portfolio assets transferred in exchange for cash, in which case the associated recognized liability repr esents the amount to be repaid to counterparties. For securities lending and repurchase agreements, a haircut between 0% and 15% is generally applied to the transferred assets, which results in associated liabilities having a carrying value below the carry ing value of the transferred assets. The counterparties to the associated liabilities presented in the table above have full recourse to UBS. In securities lending arrangements entered into in exchange for the receipt of other securities as collateral, nei ther the securities received nor the obligation to return them are recognized on UBS’s balance sheet, as the risks and rewards of ownership are not transferred to UBS. In cases where such financial assets received are subsequently sold or repledged in anot her transaction, this is not considered to be a transfer of financial assets. Other financial asset transfers primarily include securities transferred to collateralize derivative transactions, for which the carrying value of associated liabilities is not provided in the table above because those replacement values are managed on a portfolio basis across counterparties and product types, and therefore there is no direct relationship between the specific collateral pledged and the associated liability. Trans ferred financial assets that are not subject to derecognition in full, but remain on the balance sheet to the extent of the Group’s continuing involvement, were not material as of 31 December 2017 and as of 31 December 2016. |
UBS AG | |
Transferred Financial Assets That Are Not Derecognized In Their Entirety [Line Items] | |
Disclosure Of Transfers Of Financial Assets Explanatory | b) Transferred financial assets that are not derecognized in their entirety The table below presents information for financial assets that have been transferred but are subject to continued recognition in full, as w ell as recognized liabilities associated with those transferred assets. Transferred financial assets subject to continued recognition in full CHF million 31.12.17 31.12.16 Carrying value of transferred assets Carrying value of associated liabilities recognized on-balance sheet Carrying value of transferred assets Carrying value of associated liabilities recognized on-balance sheet Trading portfolio assets that may be sold or repledged by counterparties 35,363 12,942 30,260 11,260 relating to securities lending and repurchase agreements in exchange for cash received 13,145 12,942 11,410 11,260 relating to securities lending agreements in exchange for securities received 21,137 0 17,341 0 relating to other financial asset transfers 1,081 0 1,509 0 Financial assets designated at fair value that may be sold or repledged by counterparties 170 169 636 630 Total financial assets transferred 35,533 13,111 30,896 11,890 Transactions in which financial assets are transferred, but continue to be recognized in their entirety on UBS’s balance sheet include securities lending and repurchase agreements as well as other financial asset transfers. Repur chase and securities lending arrangements are, for the most part, conducted under standard market agreements and are undertaken with counterparties subject to UBS’s normal credit risk control processes. Refer to Note 1a item 3e for more information on rep urchase agreements and securities lending agreements As of 31 December 2017, approximately one- third of the transferred financial assets were trading portfolio assets transferred in exchange for cash, in which case the associated recognized liability repr esents the amount to be repaid to counterparties. For securities lending and repurchase agreements, a haircut between 0% and 15% is generally applied to the transferred assets, which results in associated liabilities having a carrying value below the carry ing value of the transferred assets. The counterparties to the associated liabilities presented in the table above have full recourse to UBS. In securities lending arrangements entered into in exchange for the receipt of other securities as collateral, nei ther the securities received nor the obligation to return them are recognized on UBS’s balance sheet, as the risks and rewards of ownership are not transferred to UBS. In cases where such financial assets received are subsequently sold or repledged in anot her transaction, this is not considered to be a transfer of financial assets. Other financial asset transfers primarily include securities transferred to collateralize derivative transactions, for which the carrying value of associated liabilities is not provided in the table above because those replacement values are managed on a portfolio basis across counterparties and product types, and therefore there is no direct relationship between the specific collateral pledged and the associated liability. Trans ferred financial assets that are not subject to derecognition in full, but remain on the balance sheet to the extent of the Group’s continuing involvement, were not material as of 31 December 2017 and as of 31 December 2016. |
Transferred financial assets 41
Transferred financial assets that are derecognized in their entirety with continuing involvement | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Transferred Financial Assets [Line Items] | |
Disclosure Of Continuing Involvement In Derecognised Financial Assets Explanatory | c) Transferred financial assets that are derecognized in their entirety with continuing involvement Continuing involvement in a transferred and fully derecognized financial asset may result from contractual provisions in the transfer agreement or from a separate agreement with the counterparty or a third party entered into in connection with the transfer . Purchased and retained interests in securitization vehicles In cases where UBS has transferred assets into a securitization vehicle and retained or purchased interests therein, UBS has a continuing involvement in those transferred assets. As of 31 Dece mber 2017, the majority of the retained continuing involvement related to securitization positions held in the trading portfolio, primarily collateralized debt obligations, US commercial mortgage-backed securities and residential mortgage-backed securities . The fair value and carrying amount of UBS’s continuing involvement related to these purchased and retained interests was CHF 8 million as of 31 December 2017, and UBS recognized gains of CHF 4 million in 2017 related to these positions. As of 31 December 2017, life-to-date losses of CHF 1,170 million were recorded related to the positions held as of 31 December 2017. As of 31 December 2016, the fair value and carrying amount of UBS’s continuing involvement related to purchased and retained interests in se curitization vehicles was CHF 5 million, and UBS recognized gains of CHF 11 million in 2016 related to these positions. As of 31 December 2016, life-to-date losses of CHF 1,173 million were recorded related to the positions held as of 31 December 2016. The maximum exposure to loss related to purchased and retained interests in securitization structures was CHF 14 million as of 31 December 2017 compared with CHF 28 million as of 31 December 2016. Undiscounted cash outflows of CHF 7 million may be payable to the transferee in future periods as a consequence of holding the purchased and retained interests. The earliest period in which payment may be required is less than one month. |
UBS AG | |
Disclosure Transferred Financial Assets [Line Items] | |
Disclosure Of Continuing Involvement In Derecognised Financial Assets Explanatory | c) Transferred financial assets that are derecognized in their entirety with continuing involvement Continuing involvement in a transferred and fully derecognized financial asset may result from contractual provisions in the transfer agreement or from a separate agreement with the counterparty or a third party entered into in connection with the transfer . Purchased and retained interests in securitization vehicles In cases where UBS has transferred assets into a securitization vehicle and retained or purchased interests therein, UBS has a continuing involvement in those transferred assets. As of 31 Dece mber 2017, the majority of the retained continuing involvement related to securitization positions held in the trading portfolio, primarily collateralized debt obligations, US commercial mortgage-backed securities and residential mortgage-backed securities . The fair value and carrying amount of UBS’s continuing involvement related to these purchased and retained interests was CHF 8 million as of 31 December 2017, and UBS recognized gains of CHF 4 million in 2017 related to these positions. As of 31 December 2017, life-to-date losses of CHF 1,170 million were recorded related to the positions held as of 31 December 2017. As of 31 December 2016, the fair value and carrying amount of UBS’s continuing involvement related to purchased and retained interests in se curitization vehicles was CHF 5 million, and UBS recognized gains of CHF 11 million in 2016 related to these positions. As of 31 December 2016, life-to-date losses of CHF 1,173 million were recorded related to the positions held as of 31 December 2016. The maximum exposure to loss related to purchased and retained interests in securitization structures was CHF 14 million as of 31 December 2017 compared with CHF 28 million as of 31 December 2016. Undiscounted cash outflows of CHF 7 million may be payable to the transferee in future periods as a consequence of holding the purchased and retained interests. The earliest period in which payment may be required is less than one month. |
Off-balance sheet assets receiv
Off-balance sheet assets received | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Off-balance Sheet Assets Received [Line Items] | |
Disclosure Of Off Balance Sheet Assets Received Text Block | d) Off-balance sheet assets received The table be low presents assets received from third parties that can be sold or repledged , that are not recognized on the balance sheet, but that are held as collateral, including amounts that have been sold or repledged . Off-balance sheet assets received CHF million 31.12.17 31.12.16 Fair value of assets received that can be sold or repledged 469,132 429,327 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative transactions and other transactions 1 462,460 423,524 received in unsecured borrowings 6,672 5,803 Thereof sold or repledged 2 337,514 316,323 in connection with financing activities 293,295 277,341 to satisfy commitments under short sale transactions 30,463 22,824 in connection with derivative and other transactions 1 13,756 16,158 1 Includes securities received as initial margin from its clients that UBS is required to remit to CCPs, brokers and deposit banks through its exchange-traded derivative (ETD) clearing and execution services. 2 Does not include off-balance sheet securities (31 December 2017: CHF 28.1 billion; 31 December 2016: CHF 30.9 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. |
UBS AG | |
Disclosure Off-balance Sheet Assets Received [Line Items] | |
Disclosure Of Off Balance Sheet Assets Received Text Block | d) Off-balance sheet assets received The table be low presents assets received from third parties that can be sold or repledged , that are not recognized on the balance sheet, but that are held as collateral, including amounts that have been sold or repledged . Off-balance sheet assets received CHF million 31.12.17 31.12.16 Fair value of assets received that can be sold or repledged 469,132 429,327 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative transactions and other transactions 1 462,460 423,524 received in unsecured borrowings 6,672 5,803 Thereof sold or repledged 2 337,514 316,324 in connection with financing activities 293,295 277,341 to satisfy commitments under short sale transactions 30,463 22,825 in connection with derivative and other transactions 1 13,756 16,158 1 Includes securities received as initial margin from its clients that UBS AG is required to remit to CCPs, brokers and deposit banks through its exchange-traded derivative (ETD) clearing and execution services. 2 Does not include off-balance sheet securities (31 December 2017: CHF 28.1 billion; 31 December 2016: CHF 30.9 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. |
Offsetting financial assets and
Offsetting financial assets and financial liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Disclosure Of Offsetting Of Financial Assets And Financial Liabilities Explanatory | Note 24 Offsetting financial assets and financial liabilities UBS enters into netting agreements with counterparties to manage the credit risks associated primarily with repurchase and reverse repurchase transactions, securities borrowing and lending, over-the-counter (OTC) derivatives and exchange-traded derivatives (ETD). These netting agreements and similar arrangements generally enable the counterparties to set off liabilities against available assets received in the ordinary course of business and / or in the event that the counterparty to the transaction is unable to fulfill its contractual obligations. The right of setoff is a legal right to settle or otherwise eliminate all or a portion of an amount due by applying an amount receiva ble from the same counterparty against it, thus reducing credit exposure. The table below provides a summary of financial assets subject to offsetting, enforceable master netting arrangements and similar agreements, as well as financial collateral receive d to mitigate credit exposures for these financial assets. The gross financial assets of the Group that are subject to offsetting, enforceable netting arrangements and similar agreements are reconciled to the net amounts presented within the associated bal ance sheet line, after giving effect to financial liabilities with the same counterparties that have been offset on the balance sheet and other financial assets not subject to an enforceable netting arrangement or similar agreement. Further, related amount s for financial liabilities and collateral received that are not offset on the balance sheet are shown to arrive at financial assets after consideration of netting potential. The Group engages in a variety of counterparty credit mitigation strategies in ad dition to netting and collateral arrangements. Therefore, the net amounts presented in the tables on this and on the next page do not purport to represent the Group’s actual credit exposure. Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements Assets subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 3 Assets not subject to netting arrangements 4 Total assets As of 31.12.17, CHF billion Gross assets before netting Netting with gross liabilities 2 Net assets recognized on the balance sheet Financial liabilities Collateral received Assets after consideration of netting potential Assets recognized on the balance sheet Total assets after consideration of netting potential Total assets recognized on the balance sheet Cash collateral on securities borrowed 3.7 0.0 3.7 (0.6) (3.1) 0.0 8.7 8.7 12.4 Reverse repurchase agreements 140.5 (76.8) 63.7 (6.9) (56.8) 0.0 13.5 13.5 77.2 Positive replacement values 114.3 (2.1) 112.2 (83.5) (20.7) 8.0 6.0 14.0 118.2 Cash collateral receivables on derivative instruments 1 21.6 (1.0) 20.6 (11.7) (0.7) 8.1 2.9 11.0 23.4 Financial assets designated at fair value 0.4 0.0 0.4 0.0 (0.2) 0.2 58.5 58.7 58.9 Total assets 280.5 (79.9) 200.6 (102.7) (81.6) 16.4 89.6 106.0 290.2 As of 31.12.16, CHF billion Cash collateral on securities borrowed 4.2 0.0 4.2 (0.9) (3.3) 0.0 10.9 10.9 15.1 Reverse repurchase agreements 128.4 (71.5) 56.9 (2.1) (54.8) 0.0 9.3 9.3 66.2 Positive replacement values 152.3 (2.5) 149.8 (113.1) (26.7) 10.0 8.6 18.6 158.4 Cash collateral receivables on derivative instruments 1 37.2 (15.1) 22.1 (14.2) (1.0) 7.0 4.5 11.5 26.7 Financial assets designated at fair value 1.7 0.0 1.7 0.0 (0.6) 1.1 63.7 64.7 65.4 Total assets 323.8 (89.1) 234.7 (130.3) (86.3) 18.1 97.1 115.2 331.8 1 The net amount of Cash collateral receivables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and ETD that are economically settled on a daily basis. Effective 3 January 2017, interest rate swaps and credit derivatives transacted with the Chicago Mercantile Exchange (CME) were legally converted from the previous collateral model to a settlement model resulting in a derecognition of the associated assets and liabilities. Previously, UBS applied IAS 32 netting principles to offset the fair value of CME interest rate swaps with the associated variation margin. Gross cash collateral receivables and payables on derivative instruments and corresponding IAS 32 netting, decreased by approximately CHF 11.4 billion as of 31 December 2017, with no change to net cash collateral receivables and payables on derivative instruments recognized and presented on the balance sheet. 2 The logic of the table results in amounts presented in the “Netting with gross liabilities” column corresponding directly to the amounts presented in the “Netting with gross assets” column in the liabilities table presented on the following page. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial assets presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 4 Includes assets not subject to enforceable netting arrangements and other out-of-scope items. The table below provides a summ ary of financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements, as well as financial collateral pledged to mitigate credit exposures for these financial liabilities. The gross financial liabilities of UBS that are subject to offsetting, enforceable netting arrangements and similar agreements are reconciled to the net amounts presented within the associated balance sheet line, after giving effect to financial assets with the same counterparties that have be en offset on the balance sheet and other financial liabilities not subject to an enforceable netting arrangement or similar agreement. Further, related amounts for financial assets and collateral pledged that are not offset on the balance sheet are shown t o arrive at financial liabilities after consideration of netting potential . Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements Liabilities subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 3 Liabilities not subject to netting arrangements 4 Total liabilities As of 31.12.17, CHF billion Gross liabilities before netting Netting with gross assets 2 Net liabilities recognized on the balance sheet Financial assets Collateral pledged Liabilities after consideration of netting potential Liabilities recognized on the balance sheet Total liabilities after consideration of netting potential Total liabilities recognized on the balance sheet Cash collateral on securities lent 1.7 0.0 1.7 (0.6) (1.2) 0.0 0.1 0.1 1.8 Repurchase agreements 88.4 (76.8) 11.6 (6.9) (4.7) 0.0 3.6 3.6 15.3 Negative replacement values 111.4 (2.1) 109.4 (83.5) (15.0) 10.9 6.8 17.7 116.1 Cash collateral payables on derivative instruments 1 29.5 (1.0) 28.4 (16.3) (1.2) 11.0 1.8 12.8 30.2 Financial liabilities designated at fair value 1.9 0.0 1.9 0.0 (0.1) 1.8 52.3 54.1 54.2 Total liabilities 233.0 (79.9) 153.0 (107.3) (22.1) 23.7 64.6 88.3 217.6 As of 31.12.16, CHF billion Cash collateral on securities lent 2.6 0.0 2.6 (0.9) (1.7) 0.0 0.2 0.2 2.8 Repurchase agreements 76.7 (71.5) 5.2 (2.1) (3.1) 0.0 1.4 1.4 6.6 Negative replacement values 146.3 (2.5) 143.9 (113.1) (16.6) 14.2 10.0 24.2 153.8 Cash collateral payables on derivative instruments 1 48.5 (15.1) 33.4 (20.8) (1.4) 11.2 2.1 13.3 35.5 Financial liabilities designated at fair value 2.8 0.0 2.8 0.0 (0.2) 2.6 52.2 54.8 55.0 Total liabilities 276.9 (89.1) 187.9 (137.0) (22.9) 28.0 65.9 93.9 253.7 1 The net amount of Cash collateral payables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and ETD that are economically settled on a daily basis. Effective 3 January 2017, interest rate swaps and credit derivatives transacted with the Chicago Mercantile Exchange (CME) were legally converted from the previous collateral model to a settlement model resulting in a derecognition of the associated assets and liabilities. Previously, UBS applied IAS 32 netting principles to offset the fair value of CME interest rate swaps with the associated variation margin. Gross cash collateral receivables and payables on derivative instruments and corresponding IAS 32 netting, decreased by approximately CHF 11.4 billion as of 31 December 2017, with no change to net cash collateral receivables and payables on derivative instruments recognized and presented on the balance sheet. 2 The logic of the table results in amounts presented in the “Netting with gross assets” column corresponding directly to the amounts presented in the “Netting with gross liabilities” column in the assets table presented on the previous page. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial liabilities presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 4 Includes liabilities not subject to enforceable netting arrangements and other out-of-scope items. |
UBS AG | |
Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Disclosure Of Offsetting Of Financial Assets And Financial Liabilities Explanatory | Note 24 Offsetting financial assets and financial liabilities UBS enters into netting agreements with counterparties to manage the credit risks associated primarily with repurchase and reverse repurchase transactions, securities borrowing and lending, over-the-counter (OTC) derivatives and exchange-traded derivatives (ETD). These netting agreements and similar arrangements generally enable the counterparties to set off liabilities against available assets received in the ordinary course of business and / or in the event that the counterparty to the transaction is unable to fulfill its contractual obligations. The right of setoff is a legal right to settle or otherwise eliminate all or a portion of an amount due by applying an amount receiva ble from the same counterparty against it, thus reducing credit exposure. The table below provides a summary of financial assets subject to offsetting, enforceable master netting arrangements and similar agreements, as well as financial collateral receive d to mitigate credit exposures for these financial assets. The gross financial assets of the Group that are subject to offsetting, enforceable netting arrangements and similar agreements are reconciled to the net amounts presented within the associated bal ance sheet line, after giving effect to financial liabilities with the same counterparties that have been offset on the balance sheet and other financial assets not subject to an enforceable netting arrangement or similar agreement. Further, related amount s for financial liabilities and collateral received that are not offset on the balance sheet are shown to arrive at financial assets after consideration of netting potential. The Group engages in a variety of counterparty credit mitigation strategies in ad dition to netting and collateral arrangements. Therefore, the net amounts presented in the tables on this and on the next page do not purport to represent the Group’s actual credit exposure. Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements Assets subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 3 Assets not subject to netting arrangements 4 Total assets As of 31.12.17, CHF billion Gross assets before netting Netting with gross liabilities 2 Net assets recognized on the balance sheet Financial liabilities Collateral received Assets after consideration of netting potential Assets recognized on the balance sheet Total assets after consideration of netting potential Total assets recognized on the balance sheet Cash collateral on securities borrowed 3.7 0.0 3.7 (0.6) (3.1) 0.0 8.7 8.7 12.4 Reverse repurchase agreements 140.5 (76.8) 63.7 (6.9) (56.8) 0.0 13.5 13.5 77.2 Positive replacement values 114.3 (2.1) 112.2 (83.5) (20.7) 8.0 6.0 14.0 118.2 Cash collateral receivables on derivative instruments 1 21.6 (1.0) 20.6 (11.7) (0.7) 8.1 2.9 11.0 23.4 Financial assets designated at fair value 0.4 0.0 0.4 0.0 (0.2) 0.2 58.1 58.4 58.6 Total assets 280.5 (79.9) 200.6 (102.7) (81.6) 16.4 89.2 105.6 289.9 As of 31.12.16, CHF billion Cash collateral on securities borrowed 4.2 0.0 4.2 (0.9) (3.3) 0.0 10.9 10.9 15.1 Reverse repurchase agreements 128.4 (71.5) 56.9 (2.1) (54.8) 0.0 9.3 9.3 66.2 Positive replacement values 152.3 (2.5) 149.8 (113.1) (26.7) 10.0 8.6 18.6 158.4 Cash collateral receivables on derivative instruments 1 37.2 (15.1) 22.1 (14.2) (1.0) 7.0 4.5 11.5 26.7 Financial assets designated at fair value 1.7 0.0 1.7 0.0 (0.6) 1.1 63.3 64.4 65.0 Total assets 323.8 (89.1) 234.7 (130.3) (86.3) 18.1 96.7 114.8 331.5 1 The net amount of Cash collateral receivables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and ETD that are economically settled on a daily basis. Effective 3 January 2017, interest rate swaps and credit derivatives transacted with the Chicago Mercantile Exchange (CME) were legally converted from the previous collateral model to a settlement model resulting in a derecognition of the associated assets and liabilities. Previously, UBS applied IAS 32 netting principles to offset the fair value of CME interest rate swaps with the associated variation margin. Gross cash collateral receivables and payables on derivative instruments and corresponding IAS 32 netting, decreased by approximately CHF 11.4 billion as of 31 December 2017, with no change to net cash collateral receivables and payables on derivative instruments recognized and presented on the balance sheet. 2 The logic of the table results in amounts presented in the “Netting with gross liabilities” column corresponding directly to the amounts presented in the “Netting with gross assets” column in the liabilities table presented on the following page. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial assets presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 4 Includes assets not subject to enforceable netting arrangements and other out-of-scope items. The table below provides a summ ary of financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements, as well as financial collateral pledged to mitigate credit exposures for these financial liabilities. The gross financial liabilities of UBS that are subject to offsetting, enforceable netting arrangements and similar agreements are reconciled to the net amounts presented within the associated balance sheet line, after giving effect to financial assets with the same counterparties that have be en offset on the balance sheet and other financial liabilities not subject to an enforceable netting arrangement or similar agreement. Further, related amounts for financial assets and collateral pledged that are not offset on the balance sheet are shown t o arrive at financial liabilities after consideration of netting potential . Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements Liabilities subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 3 Liabilities not subject to netting arrangements 4 Total liabilities As of 31.12.17, CHF billion Gross liabilities before netting Netting with gross assets 2 Net liabilities recognized on the balance sheet Financial assets Collateral pledged Liabilities after consideration of netting potential Liabilities recognized on the balance sheet Total liabilities after consideration of netting potential Total liabilities recognized on the balance sheet Cash collateral on securities lent 1.7 0.0 1.7 (0.6) (1.2) 0.0 0.1 0.1 1.8 Repurchase agreements 88.4 (76.8) 11.6 (6.9) (4.7) 0.0 3.6 3.6 15.3 Negative replacement values 111.4 (2.1) 109.4 (83.5) (15.0) 10.9 6.8 17.7 116.1 Cash collateral payables on derivative instruments 1 29.5 (1.0) 28.4 (16.3) (1.2) 11.0 1.8 12.8 30.2 Financial liabilities designated at fair value 1.9 0.0 1.9 0.0 (0.1) 1.8 52.3 54.1 54.2 Total liabilities 233.0 (79.9) 153.0 (107.3) (22.1) 23.7 64.6 88.3 217.6 As of 31.12.16, CHF billion Cash collateral on securities lent 2.6 0.0 2.6 (0.9) (1.7) 0.0 0.2 0.2 2.8 Repurchase agreements 76.7 (71.5) 5.2 (2.1) (3.1) 0.0 1.4 1.4 6.6 Negative replacement values 146.3 (2.5) 143.9 (113.1) (16.6) 14.2 10.0 24.2 153.8 Cash collateral payables on derivative instruments 1 48.5 (15.1) 33.4 (20.8) (1.4) 11.2 2.1 13.3 35.5 Financial liabilities designated at fair value 2.8 0.0 2.8 0.0 (0.2) 2.6 52.2 54.8 55.0 Total liabilities 276.9 (89.1) 187.9 (137.0) (22.9) 28.0 65.9 93.9 253.7 1 The net amount of Cash collateral payables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and ETD that are economically settled on a daily basis. Effective 3 January 2017, interest rate swaps and credit derivatives transacted with the Chicago Mercantile Exchange (CME) were legally converted from the previous collateral model to a settlement model resulting in a derecognition of the associated assets and liabilities. Previously, UBS applied IAS 32 netting principles to offset the fair value of CME interest rate swaps with the associated variation margin. Gross cash collateral receivables and payables on derivative instruments and corresponding IAS 32 netting, decreased by approximately CHF 11.4 billion as of 31 December 2017, with no change to net cash collateral receivables and payables on derivative instruments recognized and presented on the balance sheet. 2 The logic of the table results in amounts presented in the “Netting with gross assets” column corresponding directly to the amounts presented in the “Netting with gross liabilities” column in the assets table presented on the previous page. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial liabilities presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 4 Includes liabilities not subject to enforceable netting arrangements and other out-of-scope items. |
Measurement categories, credit
Measurement categories, credit risk and maturity analysis of financial instruments | 12 Months Ended |
Dec. 31, 2017 | |
Measurement Categories Credit Risk And Maturity Analysis Of Financial Instruments [Line Items] | |
Measurement categories, credit risk and maturity analysis of financial instruments [text block] | Note 25 Measurement categories, credit risk and maturity analysis of financial instruments a) Measurement categories of financial assets and liabilities The table below provides information about the carrying amounts of individual classes of financial instruments within the measurement categories of financial assets and liabilities as defined in IAS 39 , Financial Instruments: Recognition and Measurement . Only those assets and liabilities that are financial instruments as defined in IAS 32 , Financial Instruments: Pr esentation are included in the table below, which causes certain balances to differ from those presented on the balance sheet. Refer to Note 22 for more information on how the fair value of financial instruments is determined Measurement categories of financial assets and financial liabilities CHF million 31.12.17 31.12.16 Financial assets 1 Held for trading Trading portfolio assets 126,144 92,025 Due to customers 2 7 12 Debt issued 2 10 38 Positive replacement values 118,227 158,411 Total 244,388 250,486 Fair value through profit or loss Financial assets designated at fair value 58,933 65,353 Other assets 122 131 Total 59,055 65,483 Financial assets at amortized cost Cash and balances with central banks 87,775 107,767 Due from banks 13,739 13,156 Cash collateral on securities borrowed 12,393 15,111 Reverse repurchase agreements 77,240 66,246 Cash collateral receivables on derivative instruments 23,434 26,664 Loans 3 319,568 306,325 Financial assets held to maturity 9,166 9,289 Other assets 27,913 18,504 Total 571,226 563,063 Available for sale Financial assets available for sale 8,665 15,676 Total financial assets 883,335 894,709 Financial liabilities Held for trading Trading portfolio liabilities 30,463 22,824 Negative replacement values 116,133 153,810 Total 146,597 176,634 Fair value through profit or loss Financial liabilities designated at fair value 54,202 55,017 Amounts due under unit-linked investment contracts 11,523 9,286 Other liabilities 122 131 Total 65,847 64,434 Financial liabilities at amortized cost Due to banks 7,533 10,645 Cash collateral on securities lent 1,789 2,818 Repurchase agreements 15,255 6,612 Cash collateral payables on derivative instruments 30,247 35,472 Due to customers 409,006 423,684 Debt issued 139,561 103,687 Other liabilities 36,268 38,349 Total 639,659 621,267 Total financial liabilities 852,103 862,335 1 As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. 2 Represents the embedded derivative component of structured financial instruments for which the fair value option has not been applied and that is presented within Due to customers and Debt issued on the balance sheet. 3 Includes finance lease receivables of CHF 1.1 billion as of 31 December 2017 (31 December 2016: CHF 1.0 billion). Refer to Notes 10 and 31 for more information. b) Maximum exposure to credit risk The tables on the following pages provide the Group’s maximum exposure to credit risk by class of financial instrument and the respective collateral and other credit enhancements mitigating credit risk for these classes of financial instruments. The maxim um exposure to credit risk includes the carrying amounts of financial instruments recognized on the balance sheet subject to credit risk and the notional amounts for off-balance sheet arrangements. Where information is available, collateral is presented at fair value. For other collateral, such as real estate, a reasonable alternative value is used. Credit enhancements, such as credit derivative contracts and guarantees, are included at their notional amounts. Both are capped at the maximum exposure to cred it risk for which they serve as security. Maximum exposure to credit risk 31.12.17 Collateral Credit enhancements CHF billion Maximum exposure to credit risk Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 87.1 87.1 Due from banks 2 13.7 0.1 13.6 Cash collateral on securities borrowed 12.4 12.2 0.2 Reverse repurchase agreements 77.2 72.8 4.2 0.2 Cash collateral receivables on derivative instruments 3,4 23.4 12.5 11.0 Loans 5 319.6 16.1 111.4 160.1 15.9 0.0 1.3 14.8 Financial assets held to maturity 9.2 9.2 Other assets 25.8 19.5 6.3 Total financial assets measured at amortized cost 568.4 16.1 216.0 160.1 20.1 12.5 0.0 1.3 142.3 Financial assets measured at fair value on the balance sheet Positive replacement values 4 118.2 4.0 100.2 14.0 Trading portfolio assets – debt instruments 6,7 25.6 25.6 Financial assets designated at fair value – debt instruments 8 58.4 9.8 48.5 Financial assets available for sale – debt instruments 8 7.9 7.9 Total financial assets measured at fair value 210.1 0.0 13.8 0.0 0.0 100.2 0.0 0.0 96.1 Total maximum exposure to credit risk reflected on the balance sheet 778.5 16.1 229.8 160.1 20.1 112.7 0.0 1.3 238.4 Guarantees 9 18.8 1.0 2.1 0.2 1.2 3.0 11.3 Loan commitments 9 39.1 2.8 1.1 9.5 1.0 1.4 23.3 Forward starting transactions, reverse repurchase and securities borrowing agreements 12.7 12.4 0.3 Total maximum exposure to credit risk not reflected on the balance sheet 70.6 1.0 17.4 1.2 10.7 0.0 1.0 4.4 34.8 Total 849.1 17.2 247.1 161.3 30.8 112.7 1.1 5.8 273.2 Maximum exposure to credit risk (continued) 31.12.16 Maximum exposure to credit risk Collateral Credit enhancements CHF billion Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 107.1 107.1 Due from banks 2 13.2 13.2 Cash collateral on securities borrowed 15.1 14.8 0.3 Reverse repurchase agreements 66.2 62.5 3.2 0.5 Cash collateral receivables on derivative instruments 3,4 26.7 15.1 11.5 Loans 5 306.3 17.4 99.6 158.2 14.6 0.1 1.8 14.6 Financial assets held to maturity 9.3 9.3 Other assets 18.6 10.0 8.7 Total financial assets measured at amortized cost 562.5 17.4 186.9 158.2 17.7 15.1 0.1 1.8 165.2 Financial assets measured at fair value on the balance sheet Positive replacement values 4 158.4 5.3 134.5 18.6 Trading portfolio assets – debt instruments 6,7 21.8 21.8 Financial assets designated at fair value – debt instruments 8 64.8 2.6 0.6 61.6 Financial assets available for sale – debt instruments 8 14.9 14.9 Total financial assets measured at fair value 259.9 0.0 7.9 0.0 0.0 134.5 0.6 0.0 116.9 Total maximum exposure to credit risk reflected on the balance sheet 822.4 17.4 194.9 158.2 17.7 149.6 0.7 1.8 282.1 Guarantees 9 16.7 1.4 2.0 0.2 1.2 0.1 3.0 8.8 Loan commitments 9 54.4 0.1 3.9 1.0 9.5 4.8 2.0 33.1 Forward starting transactions, reverse repurchase and securities borrowing agreements 10.2 10.2 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 81.3 1.5 16.1 1.1 10.6 0.0 4.9 5.1 41.9 Total 903.7 18.9 210.9 159.4 28.4 149.6 5.7 6.8 324.0 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 Due from banks includes amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. 3 Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. 4 The amount shown in the netting column represents the netting potential not recognized on the balance sheet. Refer to Note 24 for more information. 5 Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. In 2017, we further aligned our collateral allocation processes within Wealth Management Americas to prioritize collateral mainly according to its liquidity profile. This change resulted in increases in loans secured by cash and decreases in loans secured by securities of CHF 4.5 billion. 6 These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. 7 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 8 Does not include investment fund units. Financial assets designated at fair value collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 9 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to the “Treasury management” section of this report for more information. Maximum exposure to credit risk for financial assets designated at fair value The maximum exposure to credit risk of loans, but not structured loans, designated at fair value is generally mitigated by credit derivatives or similar instruments. As of 31 December 2017, the credit risk of such loans with a total notional amount of CHF 4 million (3 1 December 2016: CHF 609 million) was mitigated by credit derivatives for which the notional amount and fair value were not material (31 December 2016: notional amount was CHF 578 million, fair value was negative CHF 7 million). Changes in the fair value of loans designated at fair value attributable to changes in credit risk were not material for the years ended 31 December 2017 and 31 December 2016 and from inception until 31 December 2017 and 31 December 2016. Similarly, changes in the fair value of cre dit derivatives mitigating the credit risk of loans designated at fair value were not material for the years ended 31 December 2017 and 31 December 2016 and from inception until 31 December 2017 and 31 December 2016. Refer to Note 2 2 for more information o n financial assets designated at fair value c) Financial assets subject to credit risk by rating category Financial assets subject to credit risk by rating category CHF billion 31.12.17 Rating category 1 0–1 2–3 4–5 6–8 9–13 Defaulted Total Balances with central banks 86.6 0.5 87.1 Due from banks 0.6 10.6 1.4 0.9 0.3 13.7 Cash collateral on securities borrowed and reverse repurchase agreements 24.3 36.4 16.8 10.4 1.8 89.6 Positive replacement values 17.0 75.3 19.4 6.2 0.3 118.2 Cash collateral receivables on derivative instruments 6.5 9.7 5.6 1.6 0.1 23.4 Trading portfolio assets – debt instruments 2 10.3 7.3 3.0 2.0 3.0 25.6 Loans 3.2 161.8 65.4 70.0 17.6 1.5 319.6 Financial assets designated at fair value – debt instruments 3 33.8 14.2 1.5 0.8 8.0 58.4 Financial assets available for sale – debt instruments 3 6.8 1.0 0.1 7.9 Financial assets held to maturity 8.5 0.7 9.2 Other assets 0.1 0.4 8.3 15.9 0.8 0.3 25.8 Guarantees, commitments and forward starting transactions Guarantees 2.0 9.1 4.1 2.7 0.8 0.2 18.8 Loan commitments 1.9 15.4 9.4 5.8 6.5 39.1 Forward starting transactions, reverse repurchase and securities borrowing agreements 12.7 12.7 Total 201.7 354.9 134.8 116.5 39.1 2.0 849.1 31.12.16 Rating category 1 0–1 2–3 4–5 6–8 9–13 Defaulted Total Balances with central banks 106.2 0.9 107.1 Due from banks 0.6 9.7 2.0 0.5 0.3 13.2 Cash collateral on securities borrowed and reverse repurchase agreements 29.2 24.5 20.1 6.9 0.7 81.4 Positive replacement values 19.6 96.9 34.2 7.4 0.4 158.4 Cash collateral receivables on derivative instruments 6.4 12.2 6.4 1.6 0.2 26.7 Trading portfolio assets – debt instruments 2 9.0 6.8 2.9 1.7 1.3 21.8 Loans 31.7 127.2 63.1 63.6 19.1 1.6 306.3 Financial assets designated at fair value – debt instruments 3 48.4 12.6 1.0 1.6 1.3 64.8 Financial assets available for sale – debt instruments 3 12.7 1.8 0.2 0.1 14.9 Financial assets held to maturity 8.4 0.9 9.3 Other assets 0.1 2.0 6.2 7.7 2.2 0.3 18.6 Guarantees, commitments and forward starting transactions Guarantees 2.0 6.4 3.7 3.6 0.7 0.3 16.7 Loan commitments 2.4 19.5 17.1 8.7 6.5 0.1 54.4 Forward starting transactions, reverse repurchase and securities borrowing agreements 0.6 9.4 0.3 10.2 Total 277.4 330.9 157.1 103.5 32.7 2.2 903.7 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. 2 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 3 Does not include investment fund units. d) Maturit y analysis of financial liabilities The contractual maturities for non-derivative and non-trading financial liabilities as of 31 December 2017 are based on the earliest date on which UBS could be contractually required to pay. The t otal amounts that contractually mature in each time band are also shown for 31 December 2016. Derivative positions and trading liabilities, predominantly made up of short sale transactions, are assigned to the column Due within 1 month, as this provides a conservative reflection of the nature of these trading activities. The contractual maturities may extend over significantly longer periods. Maturity analysis of financial liabilities 1 CHF billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Financial liabilities recognized on balance sheet 2 Due to banks 6.1 0.4 1.0 0.1 0.0 7.5 Cash collateral on securities lent 1.7 0.2 1.9 Repurchase agreements 11.9 2.8 0.6 0.0 0.0 15.3 Trading portfolio liabilities 3,4 30.5 30.5 Negative replacement values 3 116.1 116.1 Cash collateral payables on derivative instruments 30.2 30.2 Due to customers 393.0 10.2 5.2 0.7 0.0 409.1 Financial liabilities designated at fair value 5 18.4 10.3 11.6 8.8 7.1 56.3 Debt issued 6 4.1 15.0 45.2 50.8 38.1 153.2 Other liabilities 46.7 46.7 Total 31.12.17 658.7 39.0 63.5 60.4 45.2 866.8 Total 31.12.16 704.3 39.2 40.4 46.6 46.0 876.6 Guarantees, commitments and forward starting transactions 7 Loan commitments 38.2 0.2 0.2 0.1 38.7 Guarantees 18.8 0.0 18.9 Forward starting transactions Reverse repurchase agreements 12.7 12.7 Securities borrowing agreements 0.0 0.0 Total 31.12.17 69.7 0.2 0.2 0.1 0.0 70.2 Total 31.12.16 81.0 0.2 0.2 0.0 0.0 81.4 1 Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. 2 Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. 3 Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. 4 Contractual maturities of trading portfolio liabilities are: CHF 29.5 billion due within one month (2016: CHF 21.8 billion), CHF 0.8 billion due between one month and one year (2016: CHF 1.0 billion) and CHF 0.1 billion due between 1 and 5 years (2016: CHF 0.1 billion). 5 Future interest payments on variable rate liabilities are determined by reference to the applicable interest rate prevailing as of the reporting date. Future principal payments that are variable are determined by reference to the conditions existing at the reporting date. 6 The time bucket Due after 5 years includes perpetual loss-absorbing additional tier 1 capital instruments. 7 Comprises the maximum irrevocable amount of guarantees, commitments and forward starting transactions. e) Reclassification of financial assets In 2008 and 2009, certain financial assets were reclassified from Trading portfolio assets to Loans . On their reclassificati on date, these assets had fair values of CHF 26 billion and CHF 0.6 billion, respectively. The reclassification of financial assets reflected UBS’s change in intent and ability to hold these financial assets for the foreseeable future rather than for trading in the near term. The financial assets were reclassified using their fair value on the date of the reclassification, which became their new cost basis at that date. As of 31 December 201 7 , the carrying value of the remaining reclassified financial assets, which were e ntirely comprised of municipal auction rate securities, was CHF 0.1 billion (31 December 201 6 : CHF 0.2 billion), which was approximately equal to the fair value of these assets. The overall effect on operating profit before tax from rec lassified financial assets for the year ended 31 December 201 7 was a profit of CHF 1 million (201 6: CHF 1 million). If the financial assets had not been reclassified, the impact on operating profit before tax for the year ended 31 December 201 7 would have been a loss of CHF 4 million. |
UBS AG | |
Measurement Categories Credit Risk And Maturity Analysis Of Financial Instruments [Line Items] | |
Measurement categories, credit risk and maturity analysis of financial instruments [text block] | Note 25 Measurement categories, credit risk and maturity analysis of financial instruments a) Measurement categories of financial assets and liabilities The table below provides information about the carrying amounts of individual classes of financial instruments within the measurement categories of financial assets and liabilities as defined in IAS 39 , Financial Instruments: Recognition and Measurement . Only those assets and liabilities that are financial instruments as defined in IAS 32 , Financial Instruments: Pr esentation are included in the table below, which causes certain balances to differ from those presented on the balance sheet. Refer to Note 22 for more information on how the fair value of financial instruments is determined Measurement categories of financial assets and financial liabilities CHF million 31.12.17 31.12.16 Financial assets 1 Held for trading Trading portfolio assets 126,244 92,112 Due to customers 2 7 12 Debt issued 2 10 38 Positive replacement values 118,229 158,411 Total 244,489 250,572 Fair value through profit or loss Financial assets designated at fair value 58,556 65,024 Other assets 122 131 Total 58,678 65,155 Financial assets at amortized cost Cash and balances with central banks 87,775 107,767 Due from banks 13,693 13,125 Cash collateral on securities borrowed 12,393 15,111 Reverse repurchase agreements 77,240 66,246 Cash collateral receivables on derivative instruments 23,434 26,664 Loans 3 321,718 307,004 Financial assets held to maturity 9,166 9,289 Other assets 27,986 18,519 Total 573,405 563,727 Available for sale Financial assets available for sale 8,665 15,676 Total financial assets 885,237 895,131 Financial liabilities Held for trading Trading portfolio liabilities 30,463 22,825 Negative replacement values 116,134 153,810 Total 146,598 176,635 Fair value through profit or loss Financial liabilities designated at fair value 54,202 55,017 Amounts due under unit-linked investment contracts 11,523 9,286 Other liabilities 122 131 Total 65,847 64,434 Financial liabilities at amortized cost Due to banks 7,533 10,645 Cash collateral on securities lent 1,789 2,818 Repurchase agreements 15,255 6,612 Cash collateral payables on derivative instruments 30,247 35,472 Due to customers 447,148 450,211 Debt issued 104,759 79,036 Other liabilities 37,064 38,992 Total 643,795 623,786 Total financial liabilities 856,240 864,855 1 As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. 2 Represents the embedded derivative component of structured financial instruments for which the fair value option has not been applied and that is presented within Due to customers and Debt issued on the balance sheet. 3 Includes finance lease receivables of CHF 1.1 billion as of 31 December 2017 (31 December 2016: CHF 1.0 billion). Refer to Notes 10 and 31 for more information. b) Maximum exposure to credit risk The tables on the following pages provide the Group’s maximum exposure to credit risk by class of financial instrument and the respective collateral and other credit enhancements mitigating credit risk for these classes of financial instruments. The maxim um exposure to credit risk includes the carrying amounts of financial instruments recognized on the balance sheet subject to credit risk and the notional amounts for off-balance sheet arrangements. Where information is available, collateral is presented at fair value. For other collateral, such as real estate, a reasonable alternative value is used. Credit enhancements, such as credit derivative contracts and guarantees, are included at their notional amounts. Both are capped at the maximum exposure to cred it risk for which they serve as security. Maximum exposure to credit risk 31.12.17 Collateral Credit enhancements CHF billion Maximum exposure to credit risk Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 87.1 87.1 Due from banks 2 13.7 0.1 13.6 Cash collateral on securities borrowed 12.4 12.2 0.2 Reverse repurchase agreements 77.2 72.8 4.2 0.2 Cash collateral receivables on derivative instruments 3,4 23.4 12.5 11.0 Loans 5 321.7 17.9 111.4 160.1 15.9 0.0 1.3 15.1 Financial assets held to maturity 9.2 9.2 Other assets 25.8 19.5 6.3 Total financial assets measured at amortized cost 570.6 17.9 216.0 160.1 20.1 12.5 0.0 1.3 142.7 Financial assets measured at fair value on the balance sheet Positive replacement values 4 118.2 4.0 100.2 14.0 Trading portfolio assets – debt instruments 6,7 25.7 25.7 Financial assets designated at fair value – debt instruments 8 58.4 9.8 48.5 Financial assets available for sale – debt instruments 8 7.9 7.9 Total financial assets measured at fair value 210.2 0.0 13.8 0.0 0.0 100.2 0.0 0.0 96.2 Total maximum exposure to credit risk reflected on the balance sheet 780.8 17.9 229.8 160.1 20.1 112.7 0.0 1.3 238.9 Guarantees 9 18.8 1.0 2.1 0.2 1.2 3.0 11.3 Loan commitments 9 39.1 2.8 1.1 9.5 1.0 1.4 23.3 Forward starting transactions, reverse repurchase and securities borrowing agreements 12.7 12.4 0.2 Total maximum exposure to credit risk not reflected on the balance sheet 70.6 1.0 17.4 1.2 10.7 0.0 1.0 4.4 34.8 Total 851.4 18.9 247.1 161.3 30.8 112.7 1.1 5.8 273.7 Maximum exposure to credit risk (continued) 31.12.16 Collateral Credit enhancements CHF billion Maximum exposure to credit risk Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 107.1 107.1 Due from banks 2 13.1 13.1 Cash collateral on securities borrowed 15.1 14.8 0.3 Reverse repurchase agreements 66.2 62.5 3.2 0.5 Cash collateral receivables on derivative instruments 3,4 26.7 15.1 11.5 Loans 5 307.0 17.9 99.6 158.2 14.6 0.1 1.8 14.8 Financial assets held to maturity 9.3 9.3 Other assets 18.6 10.0 8.7 Total financial assets measured at amortized cost 563.2 17.9 186.9 158.2 17.7 15.1 0.1 1.8 165.3 Financial assets measured at fair value on the balance sheet Positive replacement values 4 158.4 5.3 134.5 18.6 Trading portfolio assets – debt instruments 6,7 21.9 21.9 Financial assets designated at fair value – debt instruments 8 64.8 2.6 0.6 61.6 Financial assets available for sale – debt instruments 8 14.9 14.9 Total financial assets measured at fair value 260.0 0.0 7.9 0.0 0.0 134.5 0.6 0.0 117.0 Total maximum exposure to credit risk reflected on the balance sheet 823.2 17.9 194.9 158.2 17.7 149.6 0.7 1.8 282.3 Guarantees 9 16.7 1.4 2.0 0.2 1.2 0.1 3.0 8.8 Loan commitments 9 54.4 0.1 3.9 1.0 9.5 4.8 2.0 33.1 Forward starting transactions, reverse repurchase and securities borrowing agreements 10.2 10.2 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 81.3 1.5 16.1 1.1 10.6 0.0 4.9 5.1 41.9 Total 904.5 19.4 210.9 159.4 28.4 149.6 5.7 6.8 324.3 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 Due from banks includes amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. 3 Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. 4 The amount shown in the netting column represents the netting potential not recognized on the balance sheet. Refer to Note 24 for more information. 5 Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. In 2017, we further aligned our collateral allocation processes within Wealth Management Americas to prioritize collateral mainly according to its liquidity profile. This change resulted in increases in loans secured by cash and decreases in loans secured by securities of CHF 4.5 billion. 6 These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. 7 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 8 Does not include investment fund units. Financial assets designated at fair value collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 9 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to the “Treasury management” section of this report for more information. Maximum exposure to credit risk for financial assets designated at fair value The maximum exposure to credit risk of loans, but not structured loans, designated at fair value is generally mitigated by credit derivatives or similar instruments. As of 31 December 2017, the credit risk of such loans with a total notional amount of CHF 4 million (3 1 December 2016: CHF 609 million) was mitigated by credit derivatives for which the notional amount and fair value were not material (31 December 2016: notional amount was CHF 578 million, fair value was negative CHF 7 million). Changes in the fair value of loans designated at fair value attributable to changes in credit risk were not material for the years ended 31 December 2017 and 31 December 2016 and from inception until 31 December 2017 and 31 December 2016. Similarly, changes in the fair value of cre dit derivatives mitigating the credit risk of loans designated at fair value were not material for the years ended 31 December 2017 and 31 December 2016 and from inception until 31 December 2017 and 31 December 2016. Refer to Note 2 2 for more information o n financial assets designated at fair value c) Financial assets subject to credit risk by rating category Financial assets subject to credit risk by rating category CHF billion 31.12.17 Rating category 1 0–1 2–3 4–5 6–8 9–13 Defaulted Total Balances with central banks 86.6 0.5 87.1 Due from banks 0.6 10.6 1.4 0.9 0.3 13.7 Cash collateral on securities borrowed and reverse repurchase agreements 24.3 36.4 16.8 10.4 1.8 89.6 Positive replacement values 17.0 75.3 19.4 6.2 0.3 118.2 Cash collateral receivables on derivative instruments 6.5 9.7 5.6 1.6 0.1 23.4 Trading portfolio assets – debt instruments 2 10.3 7.4 3.0 2.1 3.0 25.7 Loans 3.2 163.6 65.7 70.0 17.6 1.5 321.7 Financial assets designated at fair value – debt instruments 3 33.8 14.2 1.5 0.8 8.0 58.4 Financial assets available for sale – debt instruments 3 6.8 1.0 0.1 7.9 Financial assets held to maturity 8.5 0.7 9.2 Other assets 0.1 0.4 8.4 15.9 0.8 0.3 25.8 Guarantees, commitments and forward starting transactions Guarantees 2.0 9.1 4.1 2.7 0.8 0.2 18.8 Loan commitments 1.9 15.4 9.4 5.8 6.5 39.1 Forward starting transactions, reverse repurchase and securities borrowing agreements 12.7 12.7 Total 201.7 356.8 135.2 116.5 39.1 2.0 851.4 CHF billion 31.12.16 Rating category 1 0–1 2–3 4–5 6–8 9–13 Defaulted Total Balances with central banks 106.2 0.9 107.1 Due from banks 0.6 9.7 2.0 0.5 0.3 13.1 Cash collateral on securities borrowed and reverse repurchase agreements 29.2 24.5 20.1 6.9 0.7 81.4 Positive replacement values 19.6 96.9 34.2 7.4 0.4 158.4 Cash collateral receivables on derivative instruments 6.4 12.2 6.4 1.6 0.2 26.7 Trading portfolio assets – debt instruments 2 9.0 6.9 2.9 1.7 1.3 21.9 Loans 31.7 127.8 63.2 63.6 19.1 1.6 307.0 Financial assets designated at fair value – debt instruments 3 48.4 12.6 1.0 1.6 1.3 64.8 Financial assets available for sale – debt instruments 3 12.7 1.8 0.2 0.1 14.9 Financial assets held to maturity 8.4 0.9 9.3 Other assets 0.1 2.1 6.2 7.7 2.2 0.3 18.6 Guarantees, commitments and forward starting transactions Guarantees 2.0 6.4 3.7 3.6 0.7 0.3 16.7 Loan commitments 2.4 19.5 17.1 8.7 6.5 0.1 54.4 Forward starting transactions, reverse repurchase and securities borrowing agreements 0.6 9.4 0.3 10.2 Total 277.4 331.6 157.2 103.5 32.7 2.2 904.5 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. 2 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 3 Does not include investment fund units. d) Maturit y analysis of financial liabilities The contractual maturities for non-derivative and non-trading financial liabilities as of 31 December 2017 are based on the earliest date on which UBS could be contractually required to pay. The t otal amounts that contractually mature in each time band are also shown for 31 December 2016. Derivative positions and trading liabilities, predominantly made up of short sale transactions, are assigned to the column Due within 1 month, as this provides a conservative reflection of the nature of these trading activities. The contractual maturities may extend over significantly longer periods. Maturity analysis of financial liabilities 1 CHF billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Financial liabilities recognized on balance sheet 2 Due to banks 6.1 0.4 1.0 0.1 0.0 7.5 Cash collateral on securities lent 1.7 0.2 1.9 Repurchase agreements 11.9 2.8 0.6 0.0 0.0 15.3 Trading portfolio liabilities 3,4 30.5 30.5 Negative replacement values 3 116.1 116.1 Cash collateral payables on derivative instruments 30.2 30.2 Due to customers 394.8 11.4 5.8 22.2 19.1 453.3 Financial liabilities designated at fair value 5 18.4 10.3 11.6 8.8 7.1 56.3 Debt issued 4.1 14.5 44.5 34.8 12.5 110.3 Other liabilities 47.4 47.4 Total 31.12.17 661.2 39.6 63.4 65.9 38.7 868.9 Total 31.12.16 706.7 39.2 40.2 45.9 45.6 877.7 Guarantees, commitments and forward starting transactions 6 Loan commitments 38.2 0.2 0.2 0.1 38.7 Guarantees 18.8 0.0 18.9 Forward starting transactions Reverse repurchase agreements 12.7 12.7 Securities borrowing agreements 0.0 0.0 Total 31.12.17 69.7 0.2 0.2 0.1 0.0 70.2 Total 31.12.16 81.0 0.2 0.2 0.0 0.0 81.4 1 Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. 2 Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. 3 Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. 4 Contractual maturities of trading portfolio liabilities are: CHF 29.5 billion due within one month (2016: CHF 21.8 billion), CHF 0.8 billion due between one month and one year (2016: CHF 1.0 billion) and CHF 0.1 billion due between 1 and 5 years (2016: CHF 0.1 billion). 5 Future interest payments on variable rate liabilities are determined by reference to the applicable interest rate prevailing as of the reporting date. Future principal payments that are variable are determined by reference to the conditions existing at the reporting date. 6 Comprises the maximum irrevocable amount of guarantees, commitments and forward starting transactions. e) Reclassification of financial assets In 2008 and 2009, certain financial assets were reclassified from Trading portfolio assets to Loans . On their reclassificati on date, these assets had fair values of CHF 26 billion and CHF 0.6 billion, respectively. The reclassification of financial assets reflected UBS’s change in intent and ability to hold these financial assets for the foreseeable future rather than for trading in the near term. The financial assets were reclassified using their fair value on the date of the reclassification, which became their new cost basis at that date. As of 31 December 201 7 , the carrying value of the remaining reclassified financial assets, which were e ntirely comprised of municipal auction rate securities, was CHF 0.1 billion (31 December 201 6 : CHF 0.2 billion), which was approximately equal to the fair value of these assets. The overall effect on operating profit before tax from rec lassified financial assets for the year ended 31 December 201 7 was a profit of CHF 1 million (201 6: CHF 1 million). If the financial assets had not been reclassified, the impact on operating profit before tax for the year ended 31 December 201 7 would have been a loss of CHF 4 million. |
Pension and other post-employme
Pension and other post-employment benefit plans | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Pension And Other Postemployment Benefit Plans [Line Items] | |
Pension and other post-employment benefit plans [text block] | Note 26 Pension and other post-employment benefit plans The table below provides information about expenses for pension and other post-employment benefit plans. These expenses are part of Personnel expenses . Income statement – expenses related to pension and other post-employment benefit plans CHF million 31.12.17 31.12.16 31.12.15 Net periodic expenses for defined benefit plans 471 435 569 of which: related to major pension plans 1 452 412 546 of which: Swiss plan 2 406 381 515 of which: UK plan 14 (2) 18 of which: US and German plans 31 33 12 of which: related to post-employment medical insurance plans 3 3 4 4 of which: UK plan 1 1 1 of which: US plans 2 3 2 of which: related to remaining plans and other expenses 4 17 19 19 Expenses for defined contribution plans 5 239 236 239 of which: UK plans 71 77 86 of which: US plan 108 106 100 of which: remaining plans 59 53 53 Total pension and other post-employment benefit plan expenses 6 710 670 808 1 Refer to Note 26a for more information. 2 The increase in net periodic pension expenses for the Swiss pension plan between 2017 and 2016 related primarily to lower curtailments, partly offset by lower expenses due to changes in demographic and financial assumptions. 3 Refer to Note 26b for more information. 4 Other expenses include differences between actual and estimated performance award accruals and net accrued pension expenses related to restructuring. 5 Refer to Note 26c for more information. 6 Refer to Note 6. The table below provides information relating to amounts recognized in Other comprehensive income for defined benefit plans. Other comprehensive income – gains / (losses) on defined benefit plans CHF million 31.12.17 31.12.16 31.12.15 Major pension plans 1 245 (837) 339 of which: Swiss plan (78) (105) 58 of which: UK plan 295 (610) 317 of which: US and German plans 28 (122) (35) Post-employment medical insurance plans 2 1 (13) (3) of which: UK plan 1 (6) 6 of which: US plans 0 (7) (9) Remaining plans 31 (26) (14) Gains / (losses) recognized in other comprehensive income, before tax 277 (876) 322 Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income 11 52 (19) Gains / (losses) recognized in other comprehensive income, net of tax 3 288 (824) 304 of which: attributable to shareholders 288 (824) 298 of which: attributable to non-controlling interests 0 0 5 1 Refer to Note 26a for more information. 2 Refer to Note 26b for more information. 3 Refer to the “Statement of comprehensive income.” UBS recognizes assets and liabilities with respect to defined benefit plans within Other assets and Other liabilities . As of 31 December 201 7 and 31 December 201 6 , the Swiss pension plan was in a surplus situation. However, a surplus is only recognized on the balance sheet to the extent that it does not exceed the estimated future economic benefit. Since the estimated future economic benefit was zero as of 31 December 201 7 and 31 December 201 6 , no net defined benefit pension as set was recognized on the balance sheet. The table below provide s information on UBS’s liabilities with respect to defined benefit plans. Balance sheet – net defined benefit pension and post-employment liability CHF million 31.12.17 31.12.16 Major pension plans 1 805 1,140 of which: Swiss plan 0 0 of which: UK plan 268 529 of which: US and German plans 2 536 611 Post-employment medical insurance plans 3 86 91 of which: UK plan 26 26 of which: US plans 59 65 Remaining plans 35 35 Total net defined benefit pension and post-employment liability 4 925 1,266 1 Refer to Note 26a for more information. 2 Of the total liability as of 31 December 2017, CHF 149 million related to US plans and CHF 388 million related to German plans (31 December 2016: CHF 265 million related to US plans and CHF 346 million related to German plans). 3 Refer to Note 26b for more information. 4 Refer to Note 21. a) Defined benefit pension plans UBS has established defined benefit pension plans for its employees in various jurisdictions, with the major plans located in Switzerland, the UK, the US and Germany. The overall investment policy and strategy for UBS’s defined benefit pension plans is gu ided by the objective of achieving an investment return that, together with contributions, ensures that there will be sufficient assets to pay pension benefits as they fall due while also mitigating various risks. For the plans with assets, i.e. funded pla ns, the investment strategies are managed under local laws and regulations in each jurisdiction. The asset allocation is determined by the governance body with reference to the prevailing current and expected economic and market conditions and in considera tion of specific asset class risk in the risk profile. Within this framework, UBS ensures that the fiduciaries consider how the asset investment strategy correlates with the maturity profile of the plan liabilities and the respective potential effect on th e funded status of the plans, including potential short-term liquidity requirements. The defined benefit obligations (DBOs) for all of UBS’s defined benefit pension plans are directly affected by changes in yields of high-quality corporate bonds quoted in an active market in the currency of the respective pension plan, as the applicable discount rate used to determine the DBO is based on these yields. For the funded plans, the pension assets are invested in a diversified portfolio of financial assets, inclu ding real estate, bonds, investment funds and cash, across geographic regions to ensure a balance of risk and return. Under IAS 19, volatility arises in each pension plan’s net asset / liability position because the fair value of the plan’s financial asset s is not fully correlated to movements in the value of the plan’s DBO. Specific asset-liability matching strategies for each pension plan are independently determined by the responsible governance body. The net asset / liability volatility for each plan is dependent on the specific financial assets chosen by each plan’s governance body. For certain pension plans, a liability-driven investment approach is applied to a portion of the plan assets to reduce potential volatility. Swiss pension plan The Swiss pe nsion plan covers employees of UBS AG and employees of companies having close economic or financial ties with UBS and exceeds the minimum benefit requirements under Swiss pension law. Contributions to the pension plan are paid by both the employe r and the employe es . The Swiss pension plan allows emp l oyees to choose the level of contributions paid by them. Employee contributions are calculated as a percentage of the contributory salary and are deducted month l y. The percentages deducted from salary depend on age and choice of contribution category and v ary between 1% and 13.5% of contributory base sala ry and between 0% and 9% of contributory variable compensation. Depending on the age of the employee, UBS pays a contribution that ran ges between 6.5% and 27.5% of contributory base salar y and between 3.6% and 9% of contributory variable compensation. U BS also pays risk contributions that are used to finance benefits paid out in the event of death and disability, as well as to finance bridging pensions. The plan b enefits include retirement , disability and survivor benefits . The pension plan offers to members at the normal retirement age of 64 a choice between a lifetime pension with or without full restitution and a partial or full lump sum payment. Members can dra w early retirement benefits starting from the age of 58. E mployees have the possibility to make additional purchases of benefits to fund early retirement benefits (Plan 58+) . The pension amount payable is a result of the conversion rate applied on the accu mulated balance of the individual plan participant’s pension account at the retirement date. The accumulated balance of each individual plan participant’s pension account is based on credited vested benefits transferred from previous employers, purchases o f benefits and the employee and employer contributions that have been made to the pension account of each indi v i d ual plan participant, as well as the interest accrued on the accumulated balance. The interest rate accrued is defined annually by the Pension Foundation Board. Although the Swiss pension plan is based on a defined contribution promise under Swiss pension law, it is accounted for as a defined benefit plan under IAS 19, primarily because of the obligation to accrue interest on the pension accounts and the payment of lifetime pension benefits. The Swiss pension plan is governed by a Pension Foundation Board. The responsibilities of this board are defined by Swiss pension law and by the plan rules. An actuarial valuation under Swiss pension law is performed regularly. According to Swiss pension law, a temporary limite d underfunding is permitted. However, should an underfunded situation occur, the Pension Foundation Board is required to take the necessary measures to ensure that full funding can be expected to be restored within a maximum period of 10 years. If a Swiss pension plan were to become significantly underfunded on a Swiss pension law basis, additional employer and employee contributions could be required. In th is situation, the risk is shared between employer and employees, and the employer is not legally obli ged to cover more than 50% of the additional contributions required. As of 31 December 2017 , the Swiss pension plan had a technical funding ratio under Swiss pension law of 131.9 % (31 December 2016 : 125.4 %). The investment strategy of the Swiss plan is imp lemented on the basis of a multi-level investment and risk management process and complies with Swiss pension law, including the rules and regulations relating to diversification of plan assets. These rules, among others, specify restrictions to the compos ition of plan assets, e.g., there is a limit of 50% for investments in equities. The investment strategy of the Swiss plan is aligned with the defined risk budget set out by the Pension Foundation Board. The risk budget is determined on the basis of regula rly performed asset and liability management analyses. In order to implement the risk budget, the Swiss plan may use direct investments, investment funds and derivatives. To mitigate foreign currency risk, a specific currency hedging strategy is in place. The Pension Foundation Board strives for a medium- and long-term balance between assets and liabilities. As of 31 December 2017 , the Swiss pension plan was in a surplus situation on an International Financial Reporting Standards (IFRS) measurement basis, as the fair value of plan assets exceeded the DBO by CHF 3,156 million (31 December 2016 : surplus of CHF 1,749 million). However, a surplus is only recognized on the balance sheet to the extent that it does not exceed the estimated future economic benefit, which equals the difference between the present value of the estimated future net service cost and the present value of the estimated future employer contributions. The maximum future economic benefit is highly variable based on changes in the discount ra te. Both as of 31 December 201 7 and 31 December 201 6 , the estimated future economic benefit was zero and hence no net defined benefit asset was recognized on the balance sheet. As of 31 December 201 7 , the difference between the pension plan surplus and the estimated future economic benefit, i.e., the asset ceiling effect, was CHF 3,156 million (31 December 201 6 : CHF 1,749 million). CHF 1,394 million out of the total movement of CHF 1,407 million was recognized in Other comprehensive income and CHF 13 millio n related to interest expense on the asset ceiling effect was recognized in the income statement. As of 31 December 201 6 , CHF 452 million out of the total movement of CHF 466 million was recognized in Other comprehensive income and CHF 14 million related t o interest expense on the asset ceiling effect was recognized in the income statement. The employer contributions expected to be made to the Swiss pension plan in 201 8 are estimated to be CHF 470 million. Refer to Note 35 for information on changes to th e Swiss pension plan that will take effect from the start of 2019 Non-Swiss pension plans UBS locations outside of Switzerland offer various defined benefit pension plans in accordance with local regulations and practices. The non-Swiss locations with majo r defined benefit pension plans are the UK, the US and Germany. Defined benefit pension plans in other locations are not material to the financial results of UBS and hence not separately disclosed. The non-Swiss plans provide benefits in the event of retir ement, death or disability. The level of benefits provided depends on the specific rate of benefit accrual and the level of employee compensation. UBS’s general principle is to ensure that the plans are adequately funded on the basis of actuarial valuation s. Local pension regulations and tax requirements are the primary drivers for determining when contributions are required. UK pension plan The UK plan is a career-average revalued earnings scheme, and benefits increase automatically based on UK price infla tion. Normal retirement age for participants in the UK plan is 60. The UK plan is closed to new entrants and pension plan participants are no longer accruing benefits for current or future service. E mployees instead participate in the UK defined contributi on plan. The governance responsibility for the UK plan lies jointly with the Pension Trustee Board, which is required under local pension laws, and UBS. The employer contributions to the pension fund reflect agreed-upon deficit-funding contributions, which are determined on the basis of the most recent actuarial valuation using assumptions agreed by the Pension Trustee Board and UBS. In the event of underfunding, UBS and the Pension Trustee Board must agree on a deficit recovery plan within statutory deadli nes. In 2017 and 2016, UBS did not make any deficit-funding contributions. The plan assets are invested in a diversified portfolio of financial assets. A liability-driven investment approach is applied, as a portion of the plan assets is invested in infla tion-indexed bonds that provide a partial hedge against price inflation. If price inflation increases, the DBO will likely increase more significantly than the change in the fair value of plan assets, which would result in an increase in the net defined be nefit liability. Plan rules and local pension legislation cap the level of inflationary increase that can be applied to plan benefits. As the plan is obligated to provide guaranteed lifetime pension benefits to plan participants upon retirement, increases in life expectancy will result in an increase in the plan’s liabilities. The sensitivity to changes in life expectancy is particularly high in the UK plan as the pension benefits are indexed to price inflation. As of 31 December 2017 , the UK plan was in a deficit situation on an IFRS measurement basis as the DBO exceeded the f air value of plan assets by CHF 268 million (31 December 2016 : de ficit of CHF 529 million) . No employer contributions are currently scheduled to be made to the UK defined benefit pension plan in 201 8, subject to periodic review. US pension plans There are two distinct major defined benefit pension plans in the US. N ormal retirement age for participants in both US plans is 65. The plans are closed to new entrants, who instead can participate in defined contribution plans. One of the major defined benefit pension plans is a contribution-based plan in which each partici pant accrues a percentage of salary in a pension account. The pension account is credited annually with interest based on a rate that is linked to the average yield on one-year US government bonds . For the other major defined benefit pension plan, retireme nt benefits accrue based on the career-average earnings of each individual plan participant. Former employees with vested benefits have the option to take a lump sum payment or a lifetime annuity commencing early or at retirement age. As required under lo cal state pension laws, both plans have fiduciaries who, together with UBS, are responsible for the governance of the plans. UBS regularly reviews the contribution strategy for these plans . In determining the contribution strategy, UBS considers local stat utory funding rules and the cost of any premiums that must be paid to the Pension Benefit Guaranty Corporation for having an underfunded plan. In 2017 , the contributions made by UBS were CHF 89 million ( 2016 : CHF 172 million). The plan assets for both pla ns are invested in a diversified portfolio of financial assets. Each pension plan’s fiduciaries are responsible for the investment decisions with respect to the plan assets. Both US plans apply a liability-driven investment approach to support the volatili ty management in the net asset / liability position. Derivative instruments may also be employed to manage volatility. The employer contributions expected to be made to the US defined benefit pension plans in 2018 are estimated to be CHF 8 million. German pension plans There are two different defined benefit pension plans in Germany, and both are contribution-based plans. No plan assets are set aside to fund these plans, and benefits are directly paid by UBS. Normal retirement age for the participants in th e German plans is 65. Within the larger of the two pension plans, each participant accrues a percentage of salary in a pension account. The accumulated account balance of the plan participant is credited on an annual basis with guaranteed interest at a rat e of 5%. In the other plan, amounts are accrued annually based on employee elections. For this plan, the accumulated account balance is credited on an annual basis with a guaranteed interest rate of 4% for amounts accrued after 2009. Both German plans are regulated under German pension law, under which the responsibility to pay pension benefits when they are due rests entirely with UBS. For the German plans, a portion of the pension payments is directly increased in line with price inflation. The benefits e xpected to be paid by UBS to the participants of the German plans in 2018 are estimated to be CHF 10 million. Financial information by plan The tables on the following pages provide an analysis of the movement in the net asset / liability recognized on the balance sheet for defined benefit pension plans, as well as an analysis of amounts recognized in net profit and in Other comprehensive incom e. Defined benefit pension plans CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Defined benefit obligation at the beginning of the year 22,865 22,636 3,704 3,350 1,755 1,619 28,325 27,605 Current service cost 448 471 0 0 9 9 456 480 Interest expense 163 240 100 116 61 62 325 419 Plan participant contributions 205 210 0 0 0 0 205 210 Remeasurements 303 477 (82) 922 80 125 301 1,524 of which: actuarial (gains) / losses due to changes in demographic assumptions 6 (659) (80) (63) (5) 3 (79) (719) of which: actuarial (gains) / losses due to changes in financial assumptions 145 698 47 1,022 84 107 276 1,827 of which: experience (gains) / losses 1 152 438 (49) (37) 2 15 104 416 Curtailments (49) (96) 0 0 0 0 (49) (96) Benefit payments (1,098) (1,074) (251) (135) (107) (98) (1,457) (1,307) Other movements (8) 0 0 0 0 19 (8) 19 Foreign currency translation 0 0 179 (549) (29) 20 150 (529) Defined benefit obligation at the end of the year 22,828 22,865 3,650 3,704 1,770 1,755 28,248 28,325 of which: amounts owed to active members 10,470 10,419 176 290 248 258 10,894 10,967 of which: amounts owed to deferred members 0 0 1,881 2,210 628 584 2,510 2,794 of which: amounts owed to retirees 12,358 12,446 1,593 1,204 893 913 14,844 14,563 Fair value of plan assets at the beginning of the year 24,614 23,919 3,175 3,400 1,144 997 28,934 28,316 Return on plan assets excluding amounts included in interest income 1,619 824 213 312 108 2 1,939 1,139 Interest income 178 258 86 118 44 44 307 420 Employer contributions 477 486 0 0 97 179 574 665 Plan participant contributions 205 210 0 0 0 0 205 210 Benefit payments (1,098) (1,074) (251) (135) (107) (98) (1,457) (1,307) Administration expenses, taxes and premiums paid (10) (10) 0 0 (4) (6) (14) (16) Foreign currency translation 0 0 159 (520) (48) 26 111 (494) Fair value of plan assets at the end of the year 25,984 24,614 3,381 3,175 1,234 1,144 30,599 28,934 Asset ceiling effect at the beginning of the year 1,749 1,283 0 0 0 0 1,749 1,283 Interest expense on asset ceiling effect 13 14 0 0 0 0 13 14 Asset ceiling effect excluding interest expense on asset ceiling effect 1,394 452 0 0 0 0 1,394 452 Asset ceiling effect at the end of the year 3,156 1,749 0 0 0 0 3,156 1,749 Net defined benefit asset / (liability) 0 0 (268) (529) (536) (611) (805) (1,140) Movement in the net asset / (liability) recognized on the balance sheet Net asset / (liability) recognized on the balance sheet at the beginning of the year 0 0 (529) 50 (611) (622) (1,140) (572) Net periodic expenses recognized in net profit (406) (381) (14) 2 (31) (33) (452) (412) Gains / (losses) recognized in other comprehensive income (78) (105) 295 (610) 28 (122) 245 (837) Employer contributions 477 486 0 0 97 179 574 665 Other movements 8 0 0 0 0 (19) 8 (19) Foreign currency translation 0 0 (20) 29 (20) 6 (39) 35 Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 (268) (529) (536) (611) (805) (1,140) Funded and unfunded plans Defined benefit obligation from funded plans 22,828 22,865 3,650 3,704 1,291 1,316 27,769 27,885 Defined benefit obligation from unfunded plans 0 0 0 0 479 440 479 440 Plan assets 25,984 24,614 3,381 3,175 1,234 1,144 30,599 28,934 Surplus / (deficit) 3,156 1,749 (268) (529) (536) (611) 2,351 609 Asset ceiling effect 3,156 1,749 0 0 0 0 3,156 1,749 Net defined benefit asset / (liability) 0 0 (268) (529) (536) (611) (805) (1,140) 1 Experience (gains) / losses are a component of actuarial remeasurements of the defined benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. Analysis of amounts recognized in net profit CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Current service cost 448 471 0 0 9 9 456 480 Interest expense related to defined benefit obligation 163 240 100 116 61 62 325 419 Interest income related to plan assets (178) (258) (86) (118) (44) (44) (307) (420) Interest expense on asset ceiling effect 13 14 0 0 0 0 13 14 Administration expenses, taxes and premiums paid 10 10 0 0 4 6 14 16 Curtailments (49) (96) 0 0 0 0 (49) (96) Net periodic expenses recognized in net profit 406 381 14 (2) 31 33 452 412 Analysis of amounts recognized in other comprehensive income (OCI) CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Remeasurement of defined benefit obligation (303) (477) 82 (922) (80) (125) (301) (1,524) Return on plan assets excluding amounts included in interest income 1,619 824 213 312 108 2 1,939 1,139 Asset ceiling effect excluding interest expense on asset ceiling effect (1,394) (452) 0 0 0 0 (1,394) (452) Total gains / (losses) recognized in other comprehensive income, before tax (78) (105) 295 (610) 28 (122) 245 (837) The table below provides information on the duration of the DBO and the timing for expected benefit payments. Swiss plan UK plan US and German plans 1 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Duration of the defined benefit obligation (in years) 15.1 15.1 20.0 22.6 10.6 10.6 Maturity analysis of benefits expected to be paid CHF million Benefits expected to be paid within 12 months 1,120 1,140 81 72 105 103 Benefits expected to be paid between 1 and 3 years 2,236 2,204 177 164 212 213 Benefits expected to be paid between 3 and 6 years 3,368 3,394 328 315 321 328 Benefits expected to be paid between 6 and 11 years 5,423 5,439 699 710 558 562 Benefits expected to be paid between 11 and 16 years 4,980 5,041 786 856 501 514 Benefits expected to be paid in more than 16 years 16,757 17,162 4,216 6,064 865 958 1 The duration of the defined benefit obligation represents a weighted average across US and German plans. A ctuarial assumptions The measurement of each pension plan’s DBO considers different actuarial assumptions. Changes in those assumptions lead to volatility in the DBO. The following principal actuarial assumptions are applied: Discount rate: the discount r ate is based on the yield of high-quality corporate bonds quoted in an active market in the currency of the respective pension plan. Consequently, a decrease in the yield of high-quality corporate bonds increases the DBO. Conversely, an increase in the yie ld of high-quality corporate bonds decreases the DBO. Rate of salary increase: an increase in the salary of plan participants generally increases the DBO, specifically for the Swiss and German plans. For the UK plan, as the plan is closed for future servic e, UBS employees no longer accrue future service benefits and thus salary increases have no effect on the DBO. For the US plans, only a small percentage of the total population continues to accrue benefits for future service and therefore the effect of a s alary increase on the DBO is minimal. Rate of pension increase: for the Swiss plan, there is no automatic indexing of pensions. Any increase would be decided by the Pension Foundation Board. For the US plans, there is also no automatic indexing of pensions . For the UK plan, pensions are automatically indexed to price inflation as per plan rules and local pension legislation. The German plans are also automatically indexed and a portion of the pensions are directly increased by price inflation. An increase i n price inflation in the UK and Germany increases the respective plan’s DBO. Rate of interest credit on retirement savings: the Swiss plan and one of the US plans have retirement saving balances that are increased annually by an interest credit rate. For t hese plans, an increase in the interest credit rate increases the respective plan’s DBO. Life expectancy: for most of UBS’s defined benefit pension plans, the respective plan is obligated to provide guaranteed lifetime pension benefits. The DBO for all pla ns is calculated using an underlying best estimate of the life expectancy of plan participants. An increase in the life expectancy of plan participants increases the plan’s DBO. The actuarial assumptions used for the pension plans are based on the economi c conditions prevailing in the jurisdiction in which they are offered. Refer to Note 1 a item 7 for a description of the accounting policy for defined benefit pension plans Changes in actuarial assumptions UBS regularly reviews the actuarial assum ptions used in calculating its DBO to determine their continuing relevance. Swiss pension plan In 2017, a net loss of CHF 303 million was recognized in Other comprehensive income (OCI) related to the remeasurement of the DBO. This was primarily due to a market-driven decrease in the discount rate, which resulted in an OCI loss of CHF 170 million, as well as experience losses of CHF 152 million, reflecting differences between the previous actuarial assumptions and what actually occurred. These effects were partially offset by market-driven changes to the assumed rate of interest credit on retirement savings, which resulted in a gain of CHF 27 million. Changes in other assumptions were not significant. In 2016, UBS continued to enhance its methodology for e stimating the discount rate by improving the construction of the yield curve from Swiss high-quality corporate bonds. Furthermore, UBS refined its approach for estimating the life expectancy, the rate of employee disability and the rate of salary increases . These changes in estimates decreased the DBO of the Swiss pension plan by CHF 319 million, of which changes in demographic assumptions decreased the DBO by CHF 659 million and changes in financial assumptions increased the DBO by CHF 339 million. However , the effect from these changes in estimates was more than offset by experience losses and market-driven changes in the discount rate, resulting in a total upward remeasurement of the Swiss plan DBO of CHF 477 million recognized in OCI. UK pension plan In 2017, a net gain of CHF 82 million was recognized in OCI related to the remeasurement of the DBO for the UK plan. This was primarily driven by changes in the life expectancy assumption, which resulted in a gain of CHF 80 million. In addition, market-driven changes in the inflation rate assumption resulted in a gain of CHF 60 million and experience gains were CHF 49 million. These gains were partly offset by a market-driven decrease in the discount rate, which resulted in a loss of CHF 105 million. In 2016, a net loss of CHF 922 million was recognized in OCI related to the remeasurement of the DBO for the UK plan, resulting from a loss of CHF 866 million due to a market-driven decrease in the discount rate and a loss of CHF 156 million from market-driven chan ges in the inflation rate assumption, partly offset by a gain of CHF 63 million from changes in the life expectancy assumption and an experience gain of CHF 37 million. US and German pension plans In 2017, a net loss of CHF 80 million was recognized in OC I related to the remeasurement of the DBO for the US and German plans compared with a net loss of CHF 125 million in 2016. OCI losses in both years were primarily driven by market-driven decreases in discount rates. The tables below show the principal actuarial assumptions used in calculating the DBO at the end of the year . Principal actuarial assumptions used Swiss plan UK plan US and German plans 1 In % 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate 0.67 0.73 2.55 2.69 3.14 3.58 Rate of salary increase 1.30 1.30 0.00 0.00 2.83 2.86 Rate of pension increase 0.00 0.00 3.11 3.18 1.50 1.50 Rate of interest credit on retirement savings 0.67 0.73 0.00 0.00 2.56 1.74 1 Represents weighted average assumptions across US and German plans. Mortality tables and life expectancies for major plans Life expectancy at age 65 for a male member currently aged 65 aged 45 Country Mortality table 31.12.17 31.12.16 31.12.17 31.12.16 Switzerland BVG 2015 G with CMI 2016 projections 1 21.6 21.5 23.0 22.9 UK S2PA with CMI 2016 projections 2 23.4 23.7 24.6 25.0 USA RP2014 WCHA with MP2017 projection scale 3 22.8 22.9 24.4 24.4 Germany Dr. K. Heubeck 2005 G 20.3 20.1 22.9 22.8 Life expectancy at age 65 for a female member currently aged 65 aged 45 Country Mortality table 31.12.17 31.12.16 31.12.17 31.12.16 Switzerland BVG 2015 G with CMI 2016 projections 1 23.4 23.4 24.9 24.9 UK S2PA with CMI 2016 projections 2 25.2 25.6 26.5 27.4 USA RP2014 WCHA with MP2017 projection scale 3 24.4 24.5 26.0 26.1 Germany Dr. K. Heubeck 2005 G 24.3 24.2 26.8 26.7 1 In 2016, the mortality table BVG 2015 G with proposed CMI 2016 was used. 2 In 2016, the mortality table S2PA with CMI 2015 projections was used. 3 In 2016, the mortality table RP2014 WCHA with MP2016 projection scale was used. Sensitivity analysis of significant actuarial assumptions The table below presents a sensitivity analysis for each significant actuarial assumption, showing how the DBO would have been affected by changes in the relevant actuarial assumption that were reasonably possible at the balance sheet date. Unforeseen circumstances may arise, which could result in variations that are outside the range of alternatives deemed reasonably possible. Caution should be used in extrapolating the sensitivities below on the DBO as the sensitivities may not be linear. Sensitivity analysis of significant actuarial assumptions 1 Increase / (decrease) in defined benefit obligation Swiss plan UK plan US and German plans CHF million 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate Increase by 50 basis points (1,432) (1,435) (341) (388) (88) (86) Decrease by 50 basis points 1,627 1,630 391 452 96 94 Rate of salary increase Increase by 50 basis points 84 86 – 2 – 2 1 1 Decrease by 50 basis points (80) (79) – 2 – 2 (1) (1) Rate of pension increase Increase by 50 basis points 1,181 1,178 370 435 7 6 Decrease by 50 basis points – 3 – 3 (327) (377) (6) (6) Rate of inte |
UBS AG | |
Disclosure Pension And Other Postemployment Benefit Plans [Line Items] | |
Pension and other post-employment benefit plans [text block] | Note 26 Pension and other post-employment benefit plans The table below provides information about expenses for pension and other post-employment benefit plans. These expenses are part of Personnel expenses . Income statement – expenses related to pension and other post-employment benefit plans CHF million 31.12.17 31.12.16 31.12.15 Net periodic expenses for defined benefit plans 359 433 568 of which: related to major pension plans 1 347 412 546 of which: Swiss plan 2 302 381 515 of which: UK plan 14 (2) 18 of which: US and German plans 31 33 12 of which: related to post-employment medical insurance plans 3 3 4 4 of which: UK plan 1 1 1 of which: US plans 2 3 2 of which: related to remaining plans and other expenses 4 8 17 19 Expenses for defined contribution plans 5 232 236 239 of which: UK plans 64 77 86 of which: US plan 108 106 100 of which: remaining plans 59 53 53 Total pension and other post-employment benefit plan expenses 6 591 669 807 1 Refer to Note 26a for more information. 2 The decrease in net periodic pension expenses for the Swiss pension plan in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. 3 Refer to Note 26b for more information. 4 Other expenses include differences between actual and estimated performance award accruals and net accrued pension expenses related to restructuring. 5 Refer to Note 26c for more information. 6 Refer to Note 6. The table below provides information relating to amounts recognized in Other comprehensive i ncome for defined benefit plans. Other comprehensive income – gains / (losses) on defined benefit plans CHF million 31.12.17 31.12.16 31.12.15 Major pension plans 1 266 (837) 339 of which: Swiss plan (56) (105) 58 of which: UK plan 295 (610) 317 of which: US and German plans 28 (122) (35) Post-employment medical insurance plans 2 1 (13) (3) of which: UK plan 1 (6) 6 of which: US plans 0 (7) (9) Remaining plans 31 (26) (14) Gains / (losses) recognized in other comprehensive income, before tax 299 (876) 322 Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income 6 52 (19) Gains / (losses) recognized in other comprehensive income, net of tax 3 305 (824) 304 1 Refer to Note 26a for more information. 2 Refer to Note 26b for more information. 3 Refer to the “Statement of comprehensive income.” UBS AG recognizes assets and liabilities with respect to defined benefit plans within Other assets and Other liabilities . As of 31 December 201 7 and 31 December 201 6 , the Swiss pension plan was in a surplus situation. However, a surplus is only recognized on the balance sheet to the extent that it does not exceed the estimated future economic benefit. Since the estimated future economic benefit was zero as of 31 Decem ber 201 7 and 31 December 201 6 , no net defined benefit pension asset was recognized on the balance sheet. The table below provide s information on UBS AG ’s liabilities with respect to defined benefit plans. Balance sheet – net defined benefit pension and post-employment liability CHF million 31.12.17 31.12.16 Major pension plans 1 805 1,140 of which: Swiss plan 0 0 of which: UK plan 268 529 of which: US and German plans 2 536 611 Post-employment medical insurance plans 3 86 91 of which: UK plan 26 26 of which: US plans 59 65 Remaining plans 34 34 Total net defined benefit pension and post-employment liability 4 925 1,266 1 Refer to Note 26a for more information. 2 Of the total liability as of 31 December 2017, CHF 149 million related to US plans and CHF 388 million related to German plans (31 December 2016: CHF 265 million related to US plans and CHF 346 million related to German plans). 3 Refer to Note 26b for more information. 4 Refer to Note 21. a) Defined benefit pension plans UBS AG has established defined benefit pension plans for its employees in various jurisdictions, with the major plans located in Switzerland, the UK, the US and Germany. The overall investment policy and strategy fo r UBS AG’s defined benefit pension plans is guided by the objective of achieving an investment return that, together with contributions, ensures that there will be sufficient assets to pay pension benefits as they fall due while also mitigating various ris ks. For the plans with assets, i.e. funded plans, the investment strategies are managed under local laws and regulations in each jurisdiction. The asset allocation is determined by the governance body with reference to the prevailing current and expected e conomic and market conditions and in consideration of specific asset class risk in the risk profile. Within this framework, UBS AG ensures that the fiduciaries consider how the asset investment strategy correlates with the maturity profile of the plan liab ilities and the respective potential effect on the funded status of the plans, including potential short-term liquidity requirements. The defined benefit obligations (DBOs) for all of UBS AG’s defined benefit pension plans are directly affected by changes in yields of high-quality corporate bonds quoted in an active market in the currency of the respective pension plan, as the applicable discount rate used to determine the DBO is based on these yields. For the funded plans, the pension assets are invested i n a diversified portfolio of financial assets, including real estate, bonds, investment funds and cash, across geographic regions to ensure a balance of risk and return. Under IAS 19, volatility arises in each pension plan’s net asset / liability position because the fair value of the plan’s financial assets is not fully correlated to movements in the value of the plan’s DBO. Specific asset-liability matching strategies for each pension plan are independently determined by the responsible governance body. T he net asset / liability volatility for each plan is dependent on the specific financial assets chosen by each plan’s governance body. For certain pension plans, a liability-driven investment approach is applied to a portion of the plan assets to reduce po tential volatility. Swiss pension plan The Swiss pension plan covers employees of UBS AG and employees of companies having close economic or financial ties with UBS AG and exceeds the minimum benefit requirements under Swiss pension law. In 2017, a signif icant number of employees transferred from UBS AG to UBS Business Solutions AG , which is a directly held subsidiary of UBS Group AG. There continues to be one pooled pension plan in Switzerland covering the employees of UBS AG and those transferred to UBS Business Solutions AG. UBS AG and UBS Business Solutions AG both are legal sponsors of UBS ’ s Swiss pension plan. Since the date of the employee transfer, UBS AG and UBS Business Solutions AG apply proportionate defined benefit accounting, i.e. , the net pen sion cost, any OCI impacts from remeasurements and the net pension asset / liability of the Swiss pension plan are allocated proportionally between UBS AG and UBS Business Solutions AG based on the aggregated net pension cost and defined benefit obligation s related to their employees . Contributions to the pension plan are paid by both the employe r and the employe es . The Swiss pension plan allows emp l oyees to choose the level of contributions paid by them. Employee contributions are calculated as a percenta ge of the contributory salary and are deducted month l y. The percentages deducted from salary depend on age and choice of contribution category and v ary between 1% and 13.5% of contributory base sala ry and between 0% and 9% of contributory variable compensa tion. Depending on the age of the employee, UBS AG pays a contribution that ran ges between 6.5% and 27.5% of contributory base salar y and between 3.6% and 9% of contributory variable compensation. UBS AG also pays risk contributions that are used to financ e benefits paid out in the event of death and disability, as well as to finance bridging pensions. The plan benefits include retirement , disability and survivor benefits . The pension plan offers to members at the normal retirement age of 64 a choice betwee n a lifetime pension with or without full restitution and a partial or full lump sum payment. Members can draw early retirement benefits starting from the age of 58. E mployees have the possibility to make additional purchases of benefits to fund early reti rement benefits (Plan 58+) . The pension amount payable is a result of the conversion rate applied on the accumulated balance of the individual plan participant’s pension account at the retirement date. The accumulated balance of each individual plan participant’s pension account is based on credited vested benefits transferred from previous employers, purchases of benefits and the employee and employer contributions that have been made to the pension account of each indi v i d ual plan participant, as wel l as the interest accrued on the accumulated balance. The interest rate accrued is defined annually by the Pension Foundation Board. Although the Swiss pension plan is based on a defined contribution promise under Swiss pension law, it is accounted for as a defined benefit plan under IAS 19, primarily because of the obligation to accrue interest on the pension accounts and the payment of lifetime pension benefits. The Swiss pension plan is governed by a Pension Foundation Board. The responsibilities of this board are defined by Swiss pension law and by the plan rules. An actuarial valuation under Swiss pension law is performed regularly. According to Swiss pension law, a temporary limited underfunding is permitted. However, should an underfunded situation occur, the Pension Foundation Board is required to take the necessary measures to ensure that full funding can be expected to be restored within a maximum period of 10 years. If a Swiss pension plan were to become significantly underfunded on a Swiss pension law basis, additional employer and employee contributions could be required. In th is situation, the risk is shared between employer and employees, and the employer is not legally obliged to cover more than 50% of the additional contributions required. As of 31 December 2017 , the Swiss pension plan had a technical funding ratio under Swiss pension law of 131.9 % (31 December 20 16 : 125.4 %). The investment strategy of the Swiss plan is implemented on the basis of a multi-level investment and risk management process and complies with Swiss pension law, including the rules and regulations relating to diversification of plan assets. These rules, among others, specify restrictions to the composition of plan assets, e.g., there is a limit of 50% for investments in equities. The investment strategy of the Swiss plan is aligned with the defined risk budget set out by the Pension Foundatio n Board. The risk budget is determined on the basis of regularly performed asset and liability management analyses. In order to implement the risk budget, the Swiss plan may use direct investments, investment funds and derivatives. To mitigate foreign curr ency risk, a specific currency hedging strategy is in place. The Pension Foundation Board strives for a medium- and long-term balance between assets and liabilities. As of 31 December 2017 , the Swiss pension plan was in a surplus situation on an Internati onal Financial Reporting Standards (IFRS) measurement basis, as the fair value of plan assets exceeded the DBO by CHF 1,940 million (31 December 2016 : surplus of CHF 1,749 million). However, a surplus is only recognized on the balance sheet to the extent that it does not exceed the estimated future economic benefit, which equals the difference between the present value of the estimated future net service cost and the presen t value of the estimated future employer contributions. The maximum future economic benefit is highly variable based on changes in the discount rate. Both as of 31 December 201 7 and 31 December 201 6 , the estimated future economic benefit was zero and hence no net defined benefit asset was recognized on the balance sheet. As of 31 December 201 7 , the difference between the pension plan surplus and the estimated future economic benefit, i.e., the asset ceiling effect, was CHF 1,940 million (31 December 201 6 : C HF 1,749 million). CHF 999 million out of the total movement of CHF 1 ,008 million was recognized in Other comprehensive income and CHF 9 million related to interest expense on the asset ceiling effect was recognized in the income statement. As of 31 Decemb er 201 6 , CHF 452 million out of the total movement of CHF 466 million was recognized in Other comprehensive income and CHF 14 million related to interest expense on the asset ceiling effect was recognized in the income statement. The employer contribution s expected to be made to the Swiss pension plan in 201 8 are estimated to be CHF 294 million. Refer to Note 35 for information on changes to the Swiss pension plan that will take effect from the start of 2019 Non-Swiss pension plans UBS AG locations outsid e of Switzerland offer various defined benefit pension plans in accordance with local regulations and practices. The non-Swiss locations with major defined benefit pension plans are the UK, the US and Germany. Defined benefit pension plans in other locatio ns are not material to the financial results of UBS AG and hence not separately disclosed. The non-Swiss plans provide benefits in the event of retirement, death or disability. The level of benefits provided depends on the specific rate of benefit accrual and the level of employee compensation. UBS AG ’s general principle is to ensure that the plans are adequately funded on the basis of actuarial valuations. Local pension regulations and tax requirements are the primary drivers for determining when contribut ions are required. UK pension plan The UK plan is a career-average revalued earnings scheme, and benefits increase automatically based on UK price inflation. Normal retirement age for participants in the UK plan is 60. The UK plan is cl osed to new entrants and pension plan participants are no longer accruing benefits for current or future service. E mployees instead participate in the UK defined contribution plan. The governance responsibility for the UK plan lies jointly with the Pension Trustee Board, which is required under local pension laws, and UBS AG . The employer contributions to the pension fund reflect agreed-upon deficit-funding contributions, which are determined on the basis of the most recent actuarial valuation using assumpt ions agreed by the Pension Trustee Board and UBS AG . In the event of underfunding, UBS AG and the Pension Trustee Board must agree on a deficit recovery plan within statutory deadlines. In 2017 and 2016, UBS AG did not make any deficit-funding contribution s. The plan assets are invested in a diversified portfolio of financial assets. A liability-driven investment approach is applied, as a portion of the plan assets is invested in inflation-indexed bonds that provide a partial hedge against price inflation. If price inflation increases, the DBO will likely increase more significantly than the change in the fair value of plan assets, which would result in an increase in the net defined benefit liability. Plan rules and local pension legislation cap the level of inflationary increase that can be applied to plan benefits. As the plan is obligated to provide guaranteed lifetime pension benefits to plan participants upon retirement, increases in life expectancy will result in an increase in the plan’s liabilities. The sensitivity to changes in life expectancy is particularly high in the UK plan as the pension benefits are indexed to price inflation. As of 31 December 2017 , the UK plan was in a deficit situation on an IFRS measurement basis as the DBO exceeded the fair value of plan assets by CHF 268 million (31 December 2016 : deficit of CHF 529 million) . No employer contributions are currently scheduled to be made to the UK defined benefit pension plan in 201 8, subject to periodic review. US pension plans There are two distinct major defined benefit pension plans in the US. Normal retirement age for partic ipants in both US plans is 65. The plans are closed to new entrants, who instead can participate in defined contribution plans. One of the major defined benefit pension plans is a contribution-based plan in which each participant accrues a percentage of sa lary in a pension account. The pension account is credited annually with interest based on a rate that is linked to the average yield on one-year US government bonds . For the other major defined benefit pension plan, retirement benefits accrue based on the career-average earnings of each individual plan participant. Former employees with vested benefits have the option to take a lump sum payment or a lifetime annuity commencing early or at retirement age. As required under local state pension laws, both pl ans have fiduciaries who , together with UBS AG, are responsible for the governance of the plans. UBS AG regularly reviews the contribution strategy for these plans . In determining the contribution strategy, UBS AG considers local statutory funding rules an d the cost of any premiums that must be paid to the Pension Benefit Guaranty Corporation for having an underfunded plan. In 2017 , the contributions made by UBS AG were CHF 89 million ( 2016 : CHF 172 million). The plan assets for both plans are invested in a diversified portfolio of financial assets. Each pension plan’s fiduciaries are responsible for the investment decisions with respect to the plan assets. Both US plans apply a liability-driven investment approach to support the volatility management in th e net asset / liability position. Derivative instruments may also be employed to manage volatility. The employer contributions expected to be made to the US defined benefit pension plans in 2018 are estimated to be CHF 8 million. German pension plans There are two different defined benefit pension plans in Germany, and both are contribution-based plans. No plan assets are set aside to fund these plans, and benefits are directly paid by UBS AG. Normal retirement age for the participants in the German plans i s 65. Within the larger of the two pension plans, each participant accrues a percentage of salary in a pension account. The accumulated account balance of the plan participant is credited on an annual basis with guaranteed interest at a rate of 5%. In the other plan, amounts are accrued annually based on employee elections. For this plan, the accumulated account balance is credited on an annual basis with a guaranteed interest rate of 4% for amounts accrued after 2009. Both German plans are regulated under German pension law, under which the responsibility to pay pension benefits when they are due rests entirely with UBS AG. For the German plans, a portion of the pension payments is directly increased in line with price inflation. The benefits expected to be paid by UBS AG to the participants of the German plans in 2018 are estimated to be CHF 10 million. Financial information by plan The tables on the following pages provide an analysis of the movement in the net asset / liability recognized on the balance s heet for defined benefit pension plans, as well as an analysis of amounts recognized in net profit and in Other comprehensive incom e. Defined benefit pension plans CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Defined benefit obligation at the beginning of the year 22,865 22,636 3,704 3,350 1,755 1,619 28,325 27,605 Current service cost 324 471 0 0 9 9 333 480 Interest expense 117 240 100 116 61 62 279 419 Plan participant contributions 155 210 0 0 0 0 155 210 Remeasurements 51 477 (82) 922 80 125 49 1,524 of which: actuarial (gains) / losses due to changes in demographic assumptions 4 (659) (80) (63) (5) 3 (81) (719) of which: actuarial (gains) / losses due to changes in financial assumptions 138 698 47 1,022 84 107 269 1,827 of which: experience (gains) / losses 1 (90) 438 (49) (37) 2 15 (138) 416 Curtailments (27) (96) 0 0 0 0 (27) (96) Benefit payments (767) (1,074) (251) (135) (107) (98) (1,126) (1,307) Other movements 2 (8,682) 0 0 0 0 19 (8,682) 19 Foreign currency translation 0 0 179 (549) (29) 20 150 (529) Defined benefit obligation at the end of the year 14,035 22,865 3,650 3,704 1,770 1,755 19,454 28,325 of which: amounts owed to active members 6,437 10,419 176 290 248 258 6,861 10,967 of which: amounts owed to deferred members 0 0 1,881 2,210 628 584 2,510 2,794 of which: amounts owed to retirees 7,598 12,446 1,593 1,204 893 913 10,083 14,563 Fair value of plan assets at the beginning of the year 24,614 23,919 3,175 3,400 1,144 997 28,934 28,316 Return on plan assets excluding amounts included in interest income 994 824 213 312 108 2 1,314 1,139 Interest income 128 258 86 118 44 44 257 420 Employer contributions 351 486 0 0 97 179 448 665 Plan participant contributions 155 210 0 0 0 0 155 210 Benefit payments (767) (1,074) (251) (135) (107) (98) (1,126) (1,307) Administration expenses, taxes and premiums paid (7) (10) 0 0 (4) (6) (12) (16) Other movements 2 (9,492) 0 0 0 0 0 (9,492) 0 Foreign currency translation 0 0 159 (520) (48) 26 111 (494) Fair value of plan assets at the end of the year 15,975 24,614 3,381 3,175 1,234 1,144 20,590 28,934 Asset ceiling effect at the beginning of the year 1,749 1,283 0 0 0 0 1,749 1,283 Interest expense on asset ceiling effect 9 14 0 0 0 0 9 14 Asset ceiling effect excluding interest expense on asset ceiling effect 999 452 0 0 0 0 999 452 Other movements 2 (817) 0 0 0 0 0 (817) 0 Asset ceiling effect at the end of the year 1,940 1,749 0 0 0 0 1,940 1,749 Net defined benefit asset / (liability) 0 0 (268) (529) (536) (611) (805) (1,140) Movement in the net asset / (liability) recognized on the balance sheet Net asset / (liability) recognized on the balance sheet at the beginning of the year 0 0 (529) 50 (611) (622) (1,140) (572) Net periodic expenses recognized in net profit (302) (381) (14) 2 (31) (33) (347) (412) Gains / (losses) recognized in other comprehensive income (56) (105) 295 (610) 28 (122) 266 (837) Employer contributions 351 486 0 0 97 179 448 665 Other movements 8 0 0 0 0 (19) 8 (19) Foreign currency translation 0 0 (20) 29 (20) 6 (39) 35 Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 (268) (529) (536) (611) (805) (1,140) Funded and unfunded plans Defined benefit obligation from funded plans 14,035 22,865 3,650 3,704 1,291 1,316 18,975 27,885 Defined benefit obligation from unfunded plans 0 0 0 0 479 440 479 440 Plan assets 15,975 24,614 3,381 3,175 1,234 1,144 20,590 28,934 Surplus / (deficit) 1,940 1,749 (268) (529) (536) (611) 1,135 609 Asset ceiling effect 1,940 1,749 0 0 0 0 1,940 1,749 Net defined benefit asset / (liability) 0 0 (268) (529) (536) (611) (805) (1,140) 1 Experience (gains) / losses are a component of actuarial remeasurements of the defined benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. 2 Primarily reflects the transfer of employees from UBS AG to UBS Business Solutions AG. Analysis of amounts recognized in net profit CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Current service cost 324 471 0 0 9 9 333 480 Interest expense related to defined benefit obligation 117 240 100 116 61 62 279 419 Interest income related to plan assets (128) (258) (86) (118) (44) (44) (257) (420) Interest expense on asset ceiling effect 9 14 0 0 0 0 9 14 Administration expenses, taxes and premiums paid 7 10 0 0 4 6 12 16 Curtailments (27) (96) 0 0 0 0 (27) (96) Net periodic expenses recognized in net profit 302 381 14 (2) 31 33 347 412 Analysis of amounts recognized in other comprehensive income (OCI) CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Remeasurement of defined benefit obligation (51) (477) 82 (922) (80) (125) (49) (1,524) Return on plan assets excluding amounts included in interest income 994 824 213 312 108 2 1,314 1,139 Asset ceiling effect excluding interest expense on asset ceiling effect (999) (452) 0 0 0 0 (999) (452) Total gains / (losses) recognized in other comprehensive income, before tax (56) (105) 295 (610) 28 (122) 266 (837) The table below provides information on the duration of the DBO and the timing for expected benefit payments. Swiss plan 1 UK plan US and German plans 2 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Duration of the defined benefit obligation (in years) 15.1 15.1 20.0 22.6 10.6 10.6 Maturity analysis of benefits expected to be paid CHF million Benefits expected to be paid within 12 months 689 1,140 81 72 105 103 Benefits expected to be paid between 1 and 3 years 1,389 2,204 177 164 212 213 Benefits expected to be paid between 3 and 6 years 2,085 3,394 328 315 321 328 Benefits expected to be paid between 6 and 11 years 3,326 5,439 699 710 558 562 Benefits expected to be paid between 11 and 16 years 3,090 5,041 786 856 501 514 Benefits expected to be paid in more than 16 years 10,453 17,162 4,216 6,064 865 958 1 The decrease in benefits expected to be paid in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. 2 The duration of the defined benefit obligation represents a weighted average across US and German plans. Actuarial assu mptions The measurement of each pension plan’s DBO considers different actuarial assumptions. Changes in those assumptions lead to volatility in the DBO. The following principal actuarial assumptions are applied: Discount rate: the discount rate is based o n the yield of high-quality corporate bonds quoted in an active market in the currency of the respective pension plan. Consequently, a decrease in the yield of high-quality corporate bonds increases the DBO. Conversely, an increase in the yield of high-qua lity corporate bonds decreases the DBO. Rate of salary increase: an increase in the salary of plan participants generally increases the DBO, specifically for the Swiss and German plans. For the UK plan , as the plan is closed for future service, UBS AG employees no longer accrue future service benefits and thus salary increases have no effect on the DBO. For the US plans, only a small percentage of the total population continues to accrue benefits for future service and therefore the effect of a salary increase on the DBO is minimal. Rate of pension increase: for the Swiss plan, there is no automatic indexing of pensions. Any increase would be decided by the Pension Foundation Board. For the US plans, there is also no automatic indexing of pensions. For the UK plan, pensions are automatically indexed to price inflation as per plan rules and local pension legislation. The German plans are also automatically indexed and a portion of the pensions are directly increased by price inflation. An increase in pric e inflation in the UK and Germany increases the respective plan’s DBO. Rate of interest credit on retirement savings: the Swiss plan and one of the US plans have retirement saving balances that are increased annually by an interest credit rate. For these p lans, an increase in the interest credit rate increases the respective plan’s DBO. Life expectancy: for most of UBS AG ’s defined benefit pension plans, the respective plan is obligated to provide guaranteed lifetime pension benefits. The DBO for all plans is calculated using an underlying best estimate of the life expectancy of plan participants. An increase in the life expectancy of plan participants increases the plan’s DBO. The actuarial assumptions used for the pension plans are based on the economic c onditions prevailing in the jurisdiction in which they are offered . Refer to Note 1 a item 7 for a description of the accounting policy for defined benefit pension plans Changes in actuarial assumptions UBS AG regularly reviews the actuarial assumptions use d in calculating its DBO to determine their continuing relevance. Swiss pension plan In 2017, a net loss of CHF 51 million was recognized in Other comprehensive i ncome (OCI) related to the remeasurement of the DBO. This was primarily due to a market-driv en decrease in the discount rate, which resulted in an OCI loss of CHF 164 million. This effect was partly offset by experience gains of CHF 90 million, reflecting differences between the previous actuarial assumptions and what actually occurred, and by ma rket-driven changes to the assumed rate of interest credit on retirement savings, which resulted in a gain of CHF 26 million. Changes in other assumptions were not significant. In 2016, UBS AG continued to enhance its methodology for estimating the discou nt rate by improving the construction of the yield curve from Swiss high-quality corporate bonds. Furthermore, UBS AG refined its approach for estimating the life expectancy, the rate of employee disability and the rate of salary increases. These changes i n estimates decreased the DBO of the Swiss pension plan by CHF 319 million, of which changes in demographic assumptions decreased the DBO by CHF 659 million and changes in financial assumptions increased the DBO by CHF 339 million. However, the effect from these changes in estimates was more than offset by experience losses and market-driven changes in the discount rate, resulting in a total upward remeasurement of the Swiss plan DBO of CHF 477 million recognized in OCI. UK pension plan In 2017, a net gain of CHF 82 million was recognized in OCI related to the remeasurement of the DBO for the UK plan. This was primarily driven by changes in the life expectancy assumption, which resulted in a gain of CHF 80 million. In addition, market-driven changes in the i nflation rate assumption resulted in a gain of CHF 60 million and experience gains were CHF 49 million. These gains were partly offset by a market-driven decrease in the discount rate, which resulted in a loss of CHF 105 million. In 2016, a net loss of CHF 922 million was recognized in OCI related to the remeasurement of the DBO for the UK plan, resulting from a loss of CHF 866 million due to a market-driven decrease in the discount rate and a loss of CHF 156 million from market-driven changes in the inflat ion rate assumption , partly offset by a gain of CHF 63 million from changes in the life expectancy assumption and an experience gain of CHF 37 million. US and German pension plans In 2017, a net loss of CHF 80 million was recognized in OCI related to the remeasurement of the DBO for the US and German plans compared with a net loss of CHF 125 million in 2016. OCI losses in both years were primarily driven by market- driven decreases in discount rates. The tables below show the principal actuarial assumptions used in calculating the DBO at the end of the year . Principal actuarial assumptions used Swiss plan UK plan US and German plans 1 In % 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate 0.67 0.73 2.55 2.69 3.14 3.58 Rate of salary increase 1.30 1.30 0.00 0.00 2.83 2.86 Rate of pension increase 0.00 0.00 3.11 3.18 1.50 1.50 Rate of interest credit on retirement savings 0.67 0.73 0.00 0.00 2.56 1.74 1 Represents weighted average assumptions across US and German plans. Mortality tables and life expectancies for major plans Life expectancy at age 65 for a male member currently aged 65 aged 45 Country Mortality table 31.12.17 31.12.16 31.12.17 31.12.16 Switzerland BVG 2015 G with CMI 2016 projections 1 21.6 21.5 23.0 22.9 UK S2PA with CMI 2016 projections 2 23.4 23.7 24.6 25.0 USA RP2014 WCHA with MP2017 projection scale 3 22.8 22.9 24.4 24.4 Germany Dr. K. Heubeck 2005 G 20.3 20.1 22.9 22.8 Life expectancy at age 65 for a female member currently aged 65 aged 45 Country Mortality table 31.12.17 31.12.16 31.12.17 31.12.16 Switzerland BVG 2015 G with CMI 2016 projections 1 23.4 23.4 24.9 24.9 UK S2PA with CMI 2016 projections 2 25.2 25.6 26.5 27.4 USA RP2014 WCHA with MP2017 projection scale 3 24.4 24.5 26.0 26.1 Germany Dr. K. Heubeck 2005 G 24.3 24.2 26.8 26.7 1 In 2016, the mortality table BVG 2015 G with proposed CMI 2016 was used. 2 In 2016, the mortality table S2PA with CMI 2015 projections was used. 3 In 2016, the mortality table RP2014 WCHA with MP2016 projection scale was used. Sensitivity analysis of significant actuarial assumptions The table below presents a sensitivity analysis for each si |
Employee benefits_ variable com
Employee benefits: variable compensation | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Employee benefits: variable compensation | |
Employee benefits: variable compensation [text block] | Note 27 Employee benefits: variable compensation a) Plans offered The Group has several share-based and other compensation plans that align the interests of Group Executive Board (GEB) members, Key Risk Takers (KRTs) and other employees with the interests of shareholders and other investors. These compensation plans are also designed to meet regulatory requirements. Section a) of this Note provide s a description of the most significant compensation plans . Refer to Note 1 a item 6 for a description of the accounting policy related to share-based and other compensation plans Mandatory deferred compensation plans Equity Ownership Plan (EOP): The EOP is a mandatory deferred compensation plan for all employees with total comp ensation greater than CHF / USD 300,000. These employees receive at least 60% of their deferred performance award un der the EOP in notional shares. EOP awards granted to GEB members and certain other employees only vest if both Group and business division performance conditions are met. Group performance is measured based on the average adjusted return on tangible equity (RoTE) excluding deferred tax assets over the performan ce period . Business division performance is measured on the basis of the business division’s average adjusted return on attributed equity (RoAE). For Corporate Center employees, it is measured on the basis of the average operating businesses RoAE. Certain awards, such as replacement awards issued outside the normal performance year cycle, may take the form of deferred cash under the EOP plan rules. Notional shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted before February 2014 have no rights to dividends, whereas awards granted since February 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, awards that have been granted in February 2018 for the performance year 2017 to individuals who are deemed to be Material Risk Takers (MRTs) based on regulatory guidance in the EU do not carry such a dividend equivalent. Awards are se ttled by delivering UBS shares at vesting, except in jurisdictions where this is not permitted for legal or tax reasons. EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. Deferred Contingent Capital Plan (DCCP): The DCCP is a mandatory deferred compensation plan for all employees with total comp ensation greater than CHF / USD 300,000. DCCP awards granted up to January 2015 represent a right to receive a cash payment at vesting. For awards granted since February 2015, DCCP takes the form of notional additional tier 1 (AT1) capital instruments, which can be settled in the form of either a cash payment or a perpetual, marketable AT1 capital instrument, at the discretion of UBS. Awards vest in full after five years and up to seven years for certain employees subject to specific regulation in the U K unless there is a trigger event. Awards are written down if the Group’s common equity tier 1 (CET1) capital ratio falls below 10% for GEB members and below 7% for all other employees. Awards are also forfeited if a viability event occurs, that is, if FIN MA notifies the firm in writing that the DCCP awards must be written down to prevent an insolvency, bankruptcy or failure of UBS, or if the firm receives a commitment of extraordinary support from the public sector that is necessary to prevent such an even t. As an additional performance condition, GEB members forfeit 20% of their award for each loss-making year during the vesting period. For awards granted up to January 2015, interest on the awards is paid annually, provided that UBS achieved an adjusted pr ofit before tax in the preceding year. For awards granted since February 2015, interest payments are discretionary. Awards granted to MRTs since February 2018 are not eligible for interest payments. The awards are generally forfeitable upon, among other ci rcumstances, voluntary termination of employment with UBS. In 2017, UBS modified the terms of the majority of DCCP awards that were granted for the performance years 2012 and 2013 by removing the service period requirement. This resulted in a CHF 36 millio n expense in 2017, of which CHF 25 million related to the Investment Bank. Asset Management EOP: In order to align deferred compensation of certain Asset Management employees with the performance of the investment funds they manage, awards are granted to s uch employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting. The awards are generally forfeitable upon, among other circumstances, voluntary termin ation of employment with UBS. Wealth Management Americas financial advisor compensation In line with market practice for US wealth management businesses, the compensation for financial advisors in Wealth Management Americas is comprised of production payout and deferred compensation awards. Production payout, paid monthly in the form of non-deferred cash payments, is primarily based on compensab le revenue. Financial advisors may also qualify for deferred compensation awards, which vest over various time periods of up to 10 years . Production payout rates and deferred compensation awards may be reduced for, among other things, errors, negligence or carelessness, or a failure to comply with the firm’s rules, standards, practices and policies or applicable laws and regulations. Strategic objective awards Strategic objective awards are deferred compensation awards based on strategic performance measure s, including production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards with a vesting period of up to 6 years. Through performance year 2016, strategi c objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS company contributions), participants were also allowed to voluntarily contribute additional amounts otherwise payable as production pay out up to a certain percentage, which vest upon contribution. Company contributions and voluntary contributions are credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a participant may elect to have v oluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Company contributions and interest on both company and voluntary contributions ratably vest in 20% installmen ts six to ten years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeitable under certain circumstances. GrowthPlus GrowthPlus is a compensation plan for selec ted financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and early 2018. The awards are distributed over seven years, with the exception of 2018 awards, which will be distributed over five years. Other compensation plans Equity Plus Plan (Equity Plus): Equity Plus is a voluntary share-based compensation plan that provides eligible employees with the opportunity to purchase UBS shares at market value and re ceive one notional share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years fro m the start of the associated plan year and, in general, if the employee remains in employment, the notional shares vest. For notional shares granted since April 2014, employees are entitled to receive a dividend equivalent, which may be paid in notional s hares and / or cash. Role-based allowances (RBAs): Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allowance reflects the market value of a specific role and is only paid as long as the empl oyee is within such a role. RBAs are offered in line with market practice and are generally paid in cash. In the UK, RBAs are awarded in cash and , above a certain threshold , in blocked UBS shares. Such shares will be unblocked in equal installments after t wo and three years. The compensation expense is recognized in the year of grant. Discontinued deferred compensation plans Senior Executive Equ ity Ownership Plan (SEEOP): Up to February 2012, GEB members and selected senior executives received a portion of their mandatory deferral in UBS shares or notional shares, which vested in equal installments over a five-year vesting period and were forfeitable if certain conditions had not been met. The employee’s business division or the Group as a whole had to be profitable in the financial year preceding scheduled vesting. Awards granted under SEEOP were settled by delivering UBS shares at vesting . No SEEOP awards have been granted since 2012. Senior Execu tive Stock Option Plan (SESOP): Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the fair market value of a UBS share on the grant date. These awards vested in full following a three-year vesting period and generally expire ten years from the grant date. No SESOP awar ds have been granted since 2008 . Long-Term Deferred Retention Senior Incentive Scheme (LTDRSIS): Awards under the LTDRSIS were granted to employees in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid in stallments to be reduced if the business recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. Key Employee Stock Appreciation Rights Plan (KESAP) and Key Employee Stock Option Plan (KESOP): Until 2009, certain key and high-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the dat e of grant. A SAR gives employees the right to receive a number of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s strike price. SARs and options are settled by delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. Share delivery obligations Share delivery obli gations related to employee share-based compensation awards were 166 million shares as of 31 December 2017, unchanged from 31 December 2016. Share delivery obligations are calculated on the basis of unvested notional share awards, options and stock appreci ation rights, taking applicable performance conditions into account. As of 31 December 2017, UBS held 132 million treasury shares (31 December 2016: 138 million) that were available to satisfy share delivery obligations. Treasury shares held are delivered to employees at exercise or vesting. However, share delivery obligations related to certain options and stock appreciation rights can also be satisfied by shares issued out of conditional capital. As of 31 December 2017, the number of UBS Group AG shares t hat could have been issued out of conditional capital for this purpose was 128 million (31 December 2016: 130 million). b) Effect on the income statement Effect on the income statement for the financial year and future periods The table below provides information on compensation expenses related to total variable compensation, including financial advisor compensation in Wealth Man agement Americas, that were recognized in the financial year ended 31 December 2017 , as well as expenses that were deferred and will be recognized in the income statement for 2018 and later. The majority of expenses deferred to 2018 and later that are related to the performance year 2017 relates to awards granted in February 2018. The total compensation expense for unvested share-based awards granted up to 31 December 2017 will be recognized in future periods over a weighted average period of 2.1 years. Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2017 Expenses deferred to 2018 and later CHF million Related to the performance year 2017 Related to prior performance years Total Related to the performance year 2017 Related to prior performance years Total Non-deferred cash 2,047 (25) 2,022 0 0 0 Deferred compensation awards 392 676 1,068 590 679 1,270 of which: Equity Ownership Plan 235 337 572 323 284 607 of which: Deferred Contingent Capital Plan 132 304 437 241 367 607 of which: Asset Management EOP 25 31 55 27 26 52 of which: Other performance awards 0 4 4 0 3 3 Total variable compensation – performance awards 2,439 651 3,090 590 679 1,270 Replacement payments 13 58 71 84 42 126 Forfeiture credits 0 (105) (105) 0 0 0 Severance payments 111 0 111 0 0 0 Retention plan and other payments 25 37 62 30 32 61 Deferred Contingent Capital Plan: interest expense 0 109 109 78 216 294 Total variable compensation – other 148 99 248 191 291 482 Financial advisor compensation 2,995 252 3,247 153 779 932 of which: non-deferred cash 2,836 0 2,836 0 0 0 of which: deferred share-based awards 56 44 100 69 117 186 of which: deferred cash-based awards 102 209 311 84 662 746 Compensation commitments with recruited financial advisors 1 30 710 740 360 2,009 2,369 Total Wealth Management Americas: Financial advisor compensation 3,025 962 3,986 513 2,788 3,300 Total variable compensation including WMA FA compensation 5,613 1,712 7,324 2 1,294 3,758 5,052 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes CHF 698 million in expenses related to share-based compensation (performance awards: CHF 572 million; other variable compensation: CHF 26 million; Wealth Management Americas financial advisor compensation: CHF 100 million). A further CHF 99 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 25 million, related to role-based allowances; Social security: CHF 50 million; Other personnel expenses: CHF 25 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 721 million. Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2016 Expenses deferred to 2017 and later CHF million Related to the performance year 2016 Related to prior performance years Total Related to the performance year 2016 Related to prior performance years Total Non-deferred cash 1,817 (42) 1,775 0 0 0 Deferred compensation awards 373 825 1,198 671 856 1,527 of which: Equity Ownership Plan 214 485 699 372 356 727 of which: Deferred Contingent Capital Plan 133 295 428 266 468 735 of which: Asset Management EOP 26 39 65 34 27 60 of which: Other performance awards 0 6 6 0 5 5 Total variable compensation – performance awards 2,191 781 2,972 671 856 1,527 Replacement payments 24 62 86 40 31 71 Forfeiture credits 0 (73) (73) 0 0 0 Severance payments 217 0 217 0 0 0 Retention plan and other payments 25 49 74 24 27 50 Deferred Contingent Capital Plan: interest expense 0 113 113 98 243 341 Total variable compensation – other 266 151 418 162 301 463 Financial advisor compensation 2,651 247 2,898 196 893 1,089 of which: non-deferred cash 2,506 0 2,506 0 0 0 of which: deferred share-based awards 33 48 81 57 120 177 of which: deferred cash-based awards 112 199 311 139 773 912 Compensation commitments with recruited financial advisors 1 43 756 799 607 2,120 2,727 Total Wealth Management Americas: Financial advisor compensation 2,695 1,002 3,697 804 3,013 3,816 Total variable compensation including WMA FA compensation 5,152 1,935 7,087 2 1,637 4,169 5,806 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2. Includes CHF 820 million in expenses related to share-based compensation (performance awards: CHF 699 million; other variable compensation: CHF 40 million; Wealth Management Americas financial advisor compensation: CHF 81 million). A further CHF 90 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 39 million, related to role-based allowances; Social security: CHF 27 million; Other personnel expenses: CHF 24 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 861 million. Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2015 Expenses deferred to 2016 and later CHF million Related to the performance year 2015 Related to prior performance years Total Related to the performance year 2015 Related to prior performance years Total Non-deferred cash 2,073 (94) 1,980 0 0 0 Deferred compensation awards 461 769 1,230 900 822 1,722 of which: Equity Ownership Plan 261 461 722 524 338 861 of which: Deferred Contingent Capital Plan 172 258 429 343 446 789 of which: Asset Management EOP 28 38 67 34 35 69 of which: Other performance awards 0 12 12 0 3 3 Total variable compensation – performance awards 2,535 675 3,210 900 822 1,722 Replacement payments 11 65 76 72 41 114 Forfeiture credits 0 (86) (86) 0 0 0 Severance payments 157 0 157 0 0 0 Retention plan and other payments 15 102 117 15 52 67 Deferred Contingent Capital Plan: interest expense 0 81 81 160 200 360 Total variable compensation – other 184 162 346 248 293 541 Financial advisor compensation 2,629 187 2,816 776 571 1,347 of which: non-deferred cash 2,460 0 2,460 0 0 0 of which: deferred share-based awards 37 45 82 66 115 182 of which: deferred cash-based awards 132 142 275 710 456 1,166 Compensation commitments with recruited financial advisors 1 43 692 735 940 1,899 2,839 Total Wealth Management Americas: Financial advisor compensation 2,673 879 3,552 1,716 2,470 4,186 Total variable compensation including WMA FA compensation 5,391 1,716 7,108 2 2,864 3,585 6,449 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes CHF 858 million in expenses related to share-based compensation (performance awards: CHF 722 million; other variable compensation: CHF 54 million; Wealth Management Americas financial advisor compensation: CHF 82 million). A further CHF 108 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 26 million, related to role-based allowances; Social security: CHF 61 million; Other personnel expenses: CHF 21 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 858 million. c) Outstanding share-based compensation awards Share and performance share awards Movements in outstanding share-based awards under the EOP plan during 2017 and 2016 are provided in the table below. Movements in outstanding share and performance share awards granted under the EOP Number of shares 2017 Weighted average grant date fair value (CHF) Number of shares 2016 Weighted average grant date fair value (CHF) Outstanding, at the beginning of the year 165,626,088 15 144,185,104 17 Shares awarded during the year 63,872,651 14 82,473,059 14 Distributions during the year (58,756,089) 16 (56,018,881) 16 Forfeited during the year (7,906,936) 15 (5,013,194) 15 Outstanding, at the end of the year 162,835,713 15 165,626,088 15 of which: shares vested for accounting purposes 74,883,139 73,913,272 The total carrying amount of the liability related to cash-settled share-based awards as of 31 December 2017 and 31 December 2016 was CHF 55 million and CHF 50 million, respectively. Option awards No option awards have been granted since 2009. Movements in outstanding option awards during 2017 and 2016 are provided in the table below. Movements in outstanding option awards Number of options 2017 Weighted average exercise price (CHF) Number of options 2016 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 55,913,291 39 80,848,217 45 Exercised during the year 1 (1,632,319) 12 (624,554) 12 Forfeited during the year (38,995) 27 (51,065) 43 Expired unexercised (21,658,809) 61 (24,259,307) 61 Outstanding, at the end of the year 32,583,168 25 55,913,291 39 Exercisable, at the end of the year 32,583,168 25 55,913,291 39 1 The weighted average share price upon option exercise was CHF 16.73 in 2017 (2016: CHF 15.69), resulting in an intrinsic value of CHF 8 million of options exercised during 2017 (2016: CHF 3 million). The table below provides additional information about options outstanding as of 31 December 2017 . Options outstanding Range of exercise prices Number of options outstanding Weighted average exercise price (CHF) Aggregate intrinsic value (CHF million) Weighted average remaining contractual term (years) CHF 10.21–15.00 6,139,267 11.37 40.3 1.1 15.01–25.00 6,729,572 19.12 5.3 1.2 25.01–35.00 18,565,697 31.43 0.0 0.2 35.01–45.00 1,146,032 35.67 0.0 0.2 45.01–55.00 2,600 46.02 0.0 0.0 10.21–55.00 32,583,168 45.7 SAR awards No SAR awards have been granted since 2009. Movements in outstanding SAR awards during 2017 and 2016 are provided in the table below. Movements in outstanding SAR awards Number of SARs 2017 Weighted average exercise price (CHF) Number of SARs 2016 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 10,807,315 12 12,519,765 12 Exercised during the year 1 (2,212,700) 11 (1,579,449) 11 Forfeited during the year (23,000) 11 (6,000) 11 Expired unexercised (58,200) 13 (127,001) 12 Outstanding, at the end of the year 8,513,415 12 10,807,315 12 Exercisable, at the end of the year 8,513,415 12 10,807,315 12 1 The weighted average share price upon exercise of SARs was CHF 16.70 in 2017 (2016: CHF 15.36), resulting in an intrinsic value of CHF 12 million of SARs exercised during 2017 (2016: CHF 6 million). The table below provides additional information about SARs outstanding as of 31 December 2017 . SARs outstanding Range of exercise prices Number of SARs outstanding Weighted average exercise price (CHF) Aggregate intrinsic value (CHF million) Weighted average remaining contractual term (years) CHF 9.35–12.50 8,174,915 11.34 54.0 1.1 12.51–15.00 2,500 14.85 0.0 1.4 15.01–17.50 42,000 16.80 0.0 1.4 17.51–20.00 294,000 19.25 0.0 1.7 9.35–20.00 8,513,415 54.0 d) Valuation UBS share awards UBS measures compe nsation expense based on the average market price of the UBS share on the grant date as quoted on the SIX Swiss Exchange, taking into consideration post-vesting sale and hedge restrictions, non-vesting conditions and market conditions, where applicable. Th e fair value of the share awards subject to post-vesting sale and hedge restrictions is discounted on the basis of the duration of the post-vesting restriction and is referenced to the cost of purchasing an at-the-money European put option for the term of the transfer restriction. The weighted average discount for share and performance share awards granted during 2017 was approximately 20.2 % ( 2016 : 18.1 %) of the market price of the UBS share. The grant date fair value of notional shares without divide nd entitlements also includes a deduction for the present value of future expected dividends to be paid between the grant date and distribution. UBS options and SARs awards The fair values of options and SARs have been determined using a standard closed-f ormula option valuation model. The expected term of each instrument is calculated on the basis of historical employee exercise behavior patterns, taking into account the share price, strike price, vesting period and the contractual life of the instrument. The term structure of volatility is derived from the implied volatilities of traded options on UBS shares in combination with the observed long-term historical share price volatility. Expected future dividends are derived from traded UBS options or from th e historical dividend pattern. |
UBS AG | |
Disclosure of Employee benefits: variable compensation | |
Employee benefits: variable compensation [text block] | Note 27 Employee benefits: variable compensation a) Plans offered UBS has several share-based and other compensation plans that align the interests of Group Executive Board (GEB) members, Key Risk Takers (KRTs) and other employees with the interests of shareholders and other investors. These compensation plans are also desi gned to meet regulatory requirements. Section a) of this Note provides a description of the most significant compensation plans . For the majority of variable compensation awards granted under such plans to employees of UBS AG, the grantor entity is UBS Gro up AG. Expenses associated with these awards are charged by UBS Group AG to UBS AG. For the purpose of this Note, references to shares refer to UBS Group AG shares. Refer to Note 1 a item 6 for a description of the accounting policy related to sha re-based and other compensation plans Mandatory deferred compensation plans Equity Ownership Plan (EOP) The EOP is a mandatory deferred compensation plan for all employees with total comp ensation greater than CHF / USD 300,000. These employees receive at least 60% of their deferred performance award un der the EOP in notional shares. EOP awards granted to GEB members and certain other employees only vest if both Group and business division performance conditions are met. Group performance is measured based on the average adjusted return on tangible equity ( RoTE ) excluding deferred tax assets over the performance period . Business division performance is measured on the basis of the business division’s average adjusted return on attributed equity ( RoAE ). For Corporate Center employees, it is measured on the basis of the average operating businesses RoAE . Certain awards, such as replacement awards issued outside the normal performance year cycle, may take the form of deferred cash under the EOP plan rules. Noti onal shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted before February 2014 have no rights to dividends, whereas awards granted since February 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, awards that have been granted in February 2018 for the performance year 2017 to individuals who are deemed to be Material Risk T akers (MRTs) based on regulatory guidance in the EU do not carry such a dividend equivalent. Awards are settled by delivering UBS shares at vesting, except in jurisdictions where this is not permitted for legal or tax reasons. EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. Deferred Contin gent Capital Plan (DCCP) The DCCP is a mandatory deferred compensation plan for all employees with total comp ensation greater than CHF / USD 300,000. DCCP awards granted up to January 2015 represent a right to receive a cash payment at vesting. For awards granted since February 2015, DCCP takes the form of notional additional tier 1 (AT1) capital instruments, which can be settled in the form of either a cash payment or a perpetual, marketable AT1 capital instrument, at the discretion of UBS. Awards vest in full after five years and up to seven years for certain employees subject to specific regulation in the UK unless there is a trigger event. Awards are written down if the Group’s common equity tier 1 (CET1) capital ratio falls below 10% for GEB members and below 7% for all other employees. Awards are also forfeited if a viability event occurs, that is, if FINMA notifies the firm in writing that the DCCP awards must be written down to prevent an insolvency, bankruptcy or failure of UBS, or if the firm receiv es a commitment of extraordinary support from the public sector that is necessary to prevent such an event. As an additional performance condition, GEB members forfeit 20% of their award for each loss-making year during the vesting period. For awards grant ed up to January 2015, interest on the awards is paid annually, provided that UBS achieved an adjusted profit before tax in the preceding year. For awards granted since February 2015, interest payments are discretionary. Awards granted to MRTs since Februa ry 2018 are not eligible for interest payments. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. Asset Management EOP In order to align deferred compensation of certain Asset Management emp loyees with the performance of the investment funds they manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting . The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. Wealth Management Americas financial advisor compensation In line with market practice for US wealth management businesses, the compensation for financial advisors in Wealth Management Americas is comprised of production payout and deferred compensation awards. Production payout, paid monthly in the form of non-deferred cash payments, is primarily based on compensable revenue. Financial advisors may also qualify for deferred compensation awards, which vest over various time periods of up to 10 years . Production payout rates and deferred compensation awards may be reduced for, among other things, errors, negligence or carelessness, or a failure to comply with the firm’s rules, standards, practices and policies or applicable laws and regulations. Strategic objective awards Strategic objective awards are deferred compensation awards based on strategic performance measures, including production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards with a vesting period of up to six years. Through performance year 2016, strategic objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS AG company contributions), particip ants were also allowed to voluntarily contribute additional amounts otherwise payable as production payout up to a certain percentage, which vest upon contribution. Company contributions and voluntary contributions are credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a participant may elect to have voluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Compan y contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to ten years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeit able under certain circumstances. GrowthPlus GrowthPlus is a compensation plan for selected financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and earl y 2018. The awards are distributed over seven years, with the exception of 2018 awards, which will be distributed over five years. Other compensation plans Equity Plus Plan (Equity Plus) Equity Plus is a voluntary share-based compensation plan that provide s eligible employees with the opportunity to purchase UBS shares at market value and receive one notional share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years from the start of the associated plan year and, in general, if the employee remains in employment, the notional shares vest. For notional shares granted since April 2014, e mployees are entitled to receive a dividend equivalent, which may be paid in notional shares and / or cash. Role-based allowances (RBAs) Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allow ance reflects the market value of a specific role and is only paid as long as the employee is within such a role. RBAs are offered in line with market practice and are generally paid in cash. In the UK, RBAs are awarded in cash and , above a certain thresho ld , in blocked UBS shares. Such shares will be unblocked in equal installments after two and three years. The compensation expense is recognized in the year of grant . Discontinued deferred compensation plans Senior Executiv e Equity Ownership Plan (SEEOP) U p to February 2012, GEB members and selected senior executives received a portion of their mandatory deferral in UBS shares or notional shares, which vested in equal installments over a five-year vesting period and were forfeitable if certain conditions ha d not been met. The employee’s business division or the Group as a whole had to be profitable in the financial year preceding scheduled vesting. Awards granted under SEEOP were settled by delivering UBS shares at vesting. No SEEOP awards have been granted since 2012. Senior Execu tive Stock Option Plan (SESOP) Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the fair market value of a UBS share on the grant date. These awards vested in full following a three-year vesting period and generally expire ten years from the grant date. No SESOP awar ds have been granted since 2008 . Long-Term Deferred Retention Se nior Incentive Scheme (LTDRSIS) Awards under the LTDRSIS were granted to employee s in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid installments to be reduced if the busin ess recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. Key Employee Stock Appreciation Rights Plan (KESAP) and Key Emp loyee Stock Option Plan (KESOP) Until 2009, certain key and high-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the date of grant. A SAR gives employees the r ight to receive a number of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s strike price. SARs and op tions are settled by delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. b) Effect on the income statement Effect on the income statement for the financial year and future periods The table below provides information on compensation expenses related to total variable compensation, includin g financial advisor compensation in Wealth Management Americas, that were recognized in the financial year ended 31 December 2017 , as well as expenses that were deferred and will be recognized in the income statement for 2018 and later. The majorit y of expenses deferred to 2018 and later that are related to the performance year 2017 relates to awards granted in February 2018. The total compensation expense for unvested shar e-based awards granted up to 31 December 2017 will be recognized in future periods over a weighted average period of 2.1 years. Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2017 Expenses deferred to 2018 and later CHF million Related to the performance year 2017 Related to prior performance years Total Related to the performance year 2017 Related to prior performance years Total Non-deferred cash 1,944 (24) 1,920 0 0 0 Deferred compensation awards 385 691 1,076 575 668 1,243 of which: Equity Ownership Plan 231 357 588 314 279 593 of which: Deferred Contingent Capital Plan 130 299 429 234 360 594 of which: Asset Management EOP 25 31 55 27 26 52 of which: Other performance awards 0 4 4 0 3 3 Total variable compensation – performance awards 2,329 667 2,996 575 668 1,243 Replacement payments 12 57 69 79 40 119 Forfeiture credits 0 (104) (104) 0 0 0 Severance payments 93 0 93 0 0 0 Retention plan and other payments 24 37 61 29 31 61 Deferred Contingent Capital Plan: interest expense 0 108 108 78 212 290 Total variable compensation – other 129 98 227 186 283 470 Financial advisor compensation 2,995 252 3,247 153 779 932 of which: non-deferred cash 2,836 0 2,836 0 0 0 of which: deferred share-based awards 56 44 100 69 117 186 of which: deferred cash-based awards 102 209 311 84 662 746 Compensation commitments with recruited financial advisors 1 30 710 740 360 2,009 2,369 Total Wealth Management Americas: Financial advisor compensation 3,025 962 3,986 513 2,788 3,300 Total variable compensation including WMA FA compensation 5,483 1,727 7,209 2 1,274 3,739 5,013 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes CHF 713 million in expenses related to share-based compensation (performance awards: CHF 588 million; other variable compensation: CHF 25 million; Wealth Management Americas financial advisor compensation: CHF 100 million). A further CHF 95 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 25 million, related to role-based allowances; Social security: CHF 48 million; Other personnel expenses: CHF 22 million, related to the Equity Plus Plan). Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2016 Expenses deferred to 2017 and later CHF million Related to the performance year 2016 Related to prior performance years Total Related to the performance year 2016 Related to prior performance years Total Non-deferred cash 1,808 (41) 1,767 0 0 0 Deferred compensation awards 373 823 1,196 671 856 1,527 of which: Equity Ownership Plan 214 484 698 372 356 727 of which: Deferred Contingent Capital Plan 133 295 428 266 468 735 of which: Asset Management EOP 26 39 65 34 27 60 of which: Other performance awards 0 6 6 0 5 5 Total variable compensation – performance awards 2,181 782 2,963 671 856 1,527 Replacement payments 24 62 86 40 31 71 Forfeiture credits 0 (73) (73) 0 0 0 Severance payments 217 0 217 0 0 0 Retention plan and other payments 25 51 76 24 27 50 Deferred Contingent Capital Plan: interest expense 0 112 112 98 243 341 Total variable compensation – other 265 151 418 162 301 463 Financial advisor compensation 2,651 247 2,898 196 893 1,089 of which: non-deferred cash 2,506 0 2,506 0 0 0 of which: deferred share-based awards 33 48 81 57 120 177 of which: deferred cash-based awards 112 199 311 139 773 912 Compensation commitments with recruited financial advisors 1 43 756 799 607 2,120 2,727 Total Wealth Management Americas: Financial advisor compensation 2,695 1,002 3,697 804 3,013 3,816 Total variable compensation including WMA FA compensation 5,142 1,935 7,078 2 1,637 4,169 5,806 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2. Includes CHF 819 million in expenses related to share-based compensation (performance awards: CHF 698 million; other variable compensation: CHF 40 million; Wealth Management Americas financial advisor compensation: CHF 81 million). A further CHF 90 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 39 million, related to role-based allowances; Social security: CHF 27 million; Other personnel expenses: CHF 24 million, related to the Equity Plus Plan). Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2015 Expenses deferred to 2016 and later CHF million Related to the performance year 2015 Related to prior performance years Total Related to the performance year 2015 Related to prior performance years Total Non-deferred cash 2,073 (94) 1,979 0 0 0 Deferred compensation awards 461 769 1,230 900 822 1,722 of which: Equity Ownership Plan 261 461 722 524 338 861 of which: Deferred Contingent Capital Plan 172 258 429 343 446 789 of which: Asset Management EOP 28 38 67 34 35 69 of which: Other performance awards 0 12 12 0 3 3 Total variable compensation – performance awards 2,534 675 3,209 900 822 1,722 Replacement payments 11 65 76 72 41 114 Forfeiture credits 0 (86) (86) 0 0 0 Severance payments 157 0 157 0 0 0 Retention plan and other payments 15 103 118 15 52 67 Deferred Contingent Capital Plan: interest expense 0 80 80 160 200 360 Total variable compensation – other 184 162 346 248 293 541 Financial advisor compensation 2,629 187 2,816 776 571 1,347 of which: non-deferred cash 2,460 0 2,460 0 0 0 of which: deferred share-based awards 37 45 82 66 115 182 of which: deferred cash-based awards 132 142 275 710 456 1,166 Compensation commitments with recruited financial advisors 1 43 692 735 940 1,899 2,839 Total Wealth Management Americas: Financial advisor compensation 2,673 879 3,552 1,716 2,470 4,186 Total variable compensation including WMA FA compensation 5,391 1,716 7,107 2 2,864 3,585 6,449 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes CHF 858 million in expenses related to share-based compensation (performance awards: CHF 722 million; other variable compensation: CHF 54 million; Wealth Management Americas financial advisor compensation: CHF 82 million). A further CHF 108 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 26 million, related to role-based allowances; Social security: CHF 61 million; Other personnel expenses: CHF 21 million, related to the Equity Plus Plan). c) Outstanding share-based compensation awards Share and performance share awards Movements in outstanding share-based awards under the EOP plan during 2017 and 2016 are provided in the table below. The awards presented are granted by UBS AG, but are based on UBS Group AG shares. Movements in outstanding share and performance share awards granted under the EOP Number of shares 2017 Weighted average grant date fair value (CHF) Number of shares 2016 Weighted average grant date fair value (CHF) Outstanding, at the beginning of the year 512,185 16 427,443 18 Shares awarded during the year 117,082 14 199,755 13 Distributions during the year (212,984) 16 (115,014) 18 Forfeited during the year (11,563) 14 0 0 Outstanding, at the end of the year 404,720 14 512,185 16 of which: shares vested for accounting purposes 132,117 189,953 The total carrying amount of the liability related to cash-settled share-based awards as of 31 December 2017 and 31 December 2016 was CHF 5 million and CHF 7 million, respectively. d) Valuation Share awards UBS AG measures compensation expense based on the average market price of the UBS Group AG share on the grant date as quoted on the SIX Swiss Exchange, taking into consideration post-vesting sale and hedge restrictions, non-vesting conditions and market conditions, where applicable. The fair value of the share awards subject to post-vesting sale and hedge restrictions is discounted on the basis of the duration of the post-vesting restriction and is reference d to the cost of purchasing an at-the-money European put option for the term of the transfer restriction. The grant date fair value of notional shares without dividend entitlements also includes a deduction for the present value of future expected dividend s to be paid between the grant date and distribution. |
Interests in subsidiaries
Interests in subsidiaries | 12 Months Ended |
Dec. 31, 2017 | |
Interests In Subsidiaries [Line Items] | |
Disclosure Of Interests In Subsidiaries Explanatory | Note 28 Interests in subsidiaries and other entities a) Interests in subsidiaries UBS defines its significant subsidiaries as those entities that, either individually or in aggregate, contribute significantly to the Group’s financial position or results of operations, based on a number of criteria, including the subsidiaries’ equity and their contribution to the Group’s total assets and profit or loss before tax, in accordance with the requirements set by IFRS 12, Swiss regulations and the rules of the US Securities and Exchange Commission (SEC). Individually significant subsidiaries The two tables below list the Group’s individually significant subsidiaries as of 31 December 2017. Unless otherwise stated, the subsidiaries listed below have share capital consisting solely of ordinary shares that are held fully by the Group, and the proportion of ownership interest held is equal to the voting righ ts held by the Group. The country where the respective registered office is located is also the principal place of business. UBS AG operates through a global network of branches and a significant proportion of its business activity is conducted outside Sw itzerland in the UK, US, Singapore, Hong Kong and other countries. UBS Europe SE has branches and offices in a number of EU member states, including Germany, Italy, Luxembourg, Spain and Austria. UBS Group Funding (Jersey) Ltd. w as dissolved in 2017. Subsidiaries of UBS Group AG as of 31 December 2017 Company Registered office Share capital in million Equity interest accumulated in % UBS AG Zurich and Basel, Switzerland CHF 385.8 100.0 UBS Business Solutions AG 1 Zurich, Switzerland CHF 1.0 100.0 UBS Group Funding (Switzerland) AG Zurich, Switzerland CHF 0.1 100.0 1 UBS Business Solutions (India) Private Limited and UBS Business Solutions Poland Sp. z o.o. are directly held subsidiaries of UBS Business Solutions AG. Individually significant subsidiaries of UBS AG as of 31 December 2017 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 2,250.0 1 100.0 UBS Asset Management AG Zurich, Switzerland Asset Management CHF 43.2 100.0 UBS Bank USA Salt Lake City, Utah, USA Wealth Management Americas USD 0.0 100.0 UBS Europe SE Frankfurt, Germany Wealth Management EUR 446.0 100.0 UBS Financial Services Inc. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS Limited London, United Kingdom Investment Bank GBP 226.6 100.0 UBS Securities LLC Wilmington, Delaware, USA Investment Bank USD 1,283.1 2 100.0 UBS Switzerland AG Zurich, Switzerland Personal & Corporate Banking CHF 10.0 100.0 1 Comprised of common share capital of USD 1,000 and non-voting preferred share capital of USD 2,250,000,000. 2 Comprised of common share capital of USD 100,000 and non-voting preferred share capital of USD 1,283,000,000. Other subsidiaries The table below lists other subsidiaries of UBS AG that are not individually significant but that contribute to the Group’s total assets and aggregated profit before tax thr esholds and are thereby disclosed in accordance with the requirements set by the SEC. Other subsidiaries of UBS AG as of 31 December 2017 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Asset Management (Americas) Inc. Wilmington, Delaware, USA Asset Management USD 0.0 100.0 UBS Asset Management (Australia) Ltd Sydney, Australia Asset Management AUD 20.1 1 100.0 UBS Asset Management (Deutschland) GmbH Frankfurt, Germany Asset Management EUR 7.7 100.0 UBS Asset Management (Hong Kong) Limited Hong Kong, Hong Kong Asset Management HKD 206.0 100.0 UBS Asset Management (Japan) Ltd Tokyo, Japan Asset Management JPY 2,200.0 100.0 UBS Asset Management (Singapore) Ltd Singapore, Singapore Asset Management SGD 4.0 100.0 UBS Asset Management (UK) Ltd London, United Kingdom Asset Management GBP 125.0 100.0 UBS Business Solutions US LLC Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Card Center AG Glattbrugg, Switzerland Personal & Corporate Banking CHF 0.1 100.0 UBS Credit Corp. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS (France) S.A. Paris, France Wealth Management EUR 133.0 100.0 UBS Fund Advisor, L.L.C. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS Fund Management (Luxembourg) S.A. Luxembourg, Luxembourg Asset Management EUR 13.0 100.0 UBS Fund Management (Switzerland) AG Basel, Switzerland Asset Management CHF 1.0 100.0 UBS Hedge Fund Solutions LLC Wilmington, Delaware, USA Asset Management USD 0.1 100.0 UBS (Monaco) S.A. Monte Carlo, Monaco Wealth Management EUR 49.2 100.0 UBS O’Connor LLC Dover, Delaware, USA Asset Management USD 1.0 100.0 UBS Real Estate Securities Inc. Wilmington, Delaware, USA Investment Bank USD 0.0 100.0 UBS Realty Investors LLC Boston, Massachusetts, USA Asset Management USD 9.0 100.0 UBS Securities (Thailand) Ltd Bangkok, Thailand Investment Bank THB 500.0 100.0 UBS Securities Australia Ltd Sydney, Australia Investment Bank AUD 0.3 1 100.0 UBS Securities India Private Limited Mumbai, India Investment Bank INR 140.0 100.0 UBS Securities Japan Co., Ltd. Tokyo, Japan Investment Bank JPY 32,100.0 100.0 UBS Securities Pte. Ltd. Singapore, Singapore Investment Bank SGD 420.4 100.0 UBS South Africa (Proprietary) Limited Sandton, South Africa Investment Bank ZAR 0.0 100.0 UBS UK Properties Limited London, United Kingdom Corporate Center GBP 132.0 100.0 1 Includes a nominal amount relating to redeemable preference shares. Changes in consolidation scope In 2017, no significant subsidiaries were added to or removed from the scope of consolidation as a result of acquisitions or disposals. Non-controlling intere sts N on-controlling interests decreased by CHF 6 25 million in 2017 to CHF 57 million as a EUR 600 million non-Basel III-compliant hybrid tier 1 capital instrument was redeemed on its first call date. As of 31 December 2017 non-controlling interests were no t material to the Group. Consolidated structured entities UBS consolidates a structured entity (SE) if it has power over the relevant activities of the entity, exposure to variable returns and the ability to use its power to affect its returns. Consolidated SEs include certain investment funds, securitization vehicles and client investment vehicles. UBS has no individually significant subsidiaries that are SEs. Investment fund SEs are generally consolidated when the Group’s aggregate exposure com bined with its decision-making rights indicate the ability to use such power in a principal capacity. Typically the Group will have decision-making rights as fund manager, earning a management fee, and will provide seed capital at the inception of the fund or hold a significant percentage of the fund units. Where other investors do not have the substantive ability to remove UBS as decision maker, the Group is deemed to have control and therefore consolidates the fund. Securitization SEs are generally consol idated when the Group holds a significant percentage of the asset-backed securities issued by the SE and has the power to remove without cause the servicer of the asset portfolio. Client investment SEs are generally consolidated when the Group has a substa ntive liquidation right over the SE or a decision right over the assets held by the SE and has exposure to variable returns through derivatives traded with the SE or holding notes issued by the SE. In 2017 and 2016, the Group has not entered into any contr actual obligation that could require the Group to provide financial support to consolidated SEs. In addition, the Group did not provide support, financial or otherwise, to a consolidated SE when the Group was not contractually obligated to do so, nor has t he Group an intention to do so in the future. Further, the Group did not provide support, financial or otherwise, to a previously unconsolidated SE that resulted in the Group controlling the SE during the reporting period. |
UBS AG | |
Interests In Subsidiaries [Line Items] | |
Disclosure Of Interests In Subsidiaries Explanatory | Note 28 Interests in subsidiaries and other entities a) Interests in subsidiaries UBS AG defines its significant subsidiaries as those entities that, either individually or in aggregate, contribute significantly to UBS AG’s financial position or results of operations, based on a number of criteria, including the subsidiaries’ equity and their contribution to UBS AG’s total assets an d profit or loss before tax, in accordance with the requirements set by IFRS 12, Swiss regulations and the rules of the US Securities and Exchange Commission (SEC). Individually significant subsidiaries The table below lists UBS AG’s individually significa nt subsidiaries as of 31 December 2017. Unless otherwise stated, the subsidiaries listed below have share capital consisting solely of ordinary shares that are held fully by UBS AG, and the proportion of ownership interest held is equal to the voting right s held by UBS AG . The country where the respective registered office is located is also the principal place of business. UBS AG operates through a global network of branches and a significant proportion of its business activity is conducted outside Switze rland in the UK, US, Singapore, Hong Kong and other countries. UBS Europe SE has branches and offices in a number of EU member states, including Germany, Italy, Luxembourg, Spain and Austria. Individually significant subsidiaries as of 31 December 2017 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 2,250.0 1 100.0 UBS Asset Management AG Zurich, Switzerland Asset Management CHF 43.2 100.0 UBS Bank USA Salt Lake City, Utah, USA Wealth Management Americas USD 0.0 100.0 UBS Europe SE Frankfurt, Germany Wealth Management EUR 446.0 100.0 UBS Financial Services Inc. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS Limited London, United Kingdom Investment Bank GBP 226.6 100.0 UBS Securities LLC Wilmington, Delaware, USA Investment Bank USD 1,283.1 2 100.0 UBS Switzerland AG Zurich, Switzerland Personal & Corporate Banking CHF 10.0 100.0 1 Comprised of common share capital of USD 1,000 and non-voting preferred share capital of USD 2,250,000,000. 2 Comprised of common share capital of USD 100,000 and non-voting preferred share capital of USD 1,283,000,000. Other subsidiaries The table below lists other subsidiaries of UBS AG that are not individually significant but that contribute to UBS AG’s total assets and aggregated profit before tax thresholds and are thereby disclosed in accordance with the requirements set by the SEC. Other subsidiaries as of 31 December 2017 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Asset Management (Americas) Inc. Wilmington, Delaware, USA Asset Management USD 0.0 100.0 UBS Asset Management (Australia) Ltd Sydney, Australia Asset Management AUD 20.1 1 100.0 UBS Asset Management (Deutschland) GmbH Frankfurt, Germany Asset Management EUR 7.7 100.0 UBS Asset Management (Hong Kong) Limited Hong Kong, Hong Kong Asset Management HKD 206.0 100.0 UBS Asset Management (Japan) Ltd Tokyo, Japan Asset Management JPY 2,200.0 100.0 UBS Asset Management (Singapore) Ltd Singapore, Singapore Asset Management SGD 4.0 100.0 UBS Asset Management (UK) Ltd London, United Kingdom Asset Management GBP 125.0 100.0 UBS Business Solutions US LLC Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Card Center AG Glattbrugg, Switzerland Personal & Corporate Banking CHF 0.1 100.0 UBS Credit Corp. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS (France) SA. Paris, France Wealth Management EUR 133.0 100.0 UBS Fund Advisor, L.L.C. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS Fund Management (Luxembourg) S.A. Luxembourg, Luxembourg Asset Management EUR 13.0 100.0 UBS Fund Management (Switzerland) AG Basel, Switzerland Asset Management CHF 1.0 100.0 UBS Hedge Fund Solutions LLC Wilmington, Delaware, USA Asset Management USD 0.1 100.0 UBS (Monaco) S.A. Monte Carlo, Monaco Wealth Management EUR 49.2 100.0 UBS O’Connor LLC Dover, Delaware, USA Asset Management USD 1.0 100.0 UBS Real Estate Securities Inc. Wilmington, Delaware, USA Investment Bank USD 0.0 100.0 UBS Realty Investors LLC Boston, Massachusetts, USA Asset Management USD 9.0 100.0 UBS Securities (Thailand) Ltd Bangkok, Thailand Investment Bank THB 500.0 100.0 UBS Securities Australia Ltd Sydney, Australia Investment Bank AUD 0.3 1 100.0 UBS Securities India Private Limited Mumbai, India Investment Bank INR 140.0 100.0 UBS Securities Japan Co., Ltd. Tokyo, Japan Investment Bank JPY 32,100.0 100.0 UBS Securities Pte. Ltd. Singapore, Singapore Investment Bank SGD 420.4 100.0 UBS South Africa (Proprietary) Limited Sandton, South Africa Investment Bank ZAR 0.0 100.0 UBS UK Properties Limited London, United Kingdom Corporate Center GBP 132.0 100.0 1 Includes a nominal amount relating to redeemable preference shares. Changes in consolidation scope In 2017, no significant subsidiaries were added to or removed from the scope of consolidation as a result of acquisitions or disposals. Non-controlling interests As of 31 December 2017 and 31 December 2016, non-controlling interests were not material to UBS AG. Consolidated structured entities UBS AG consolidates a structured entity (SE) if it has power over the relevant activities of the entity, exposure to variabl e returns and the ability to use its power to affect its returns. Consolidated SEs include certain investment funds, securitization vehicles and client investment vehicles. UBS AG has no individually significant subsidiaries that are SEs. Investment fund S Es are generally consolidated when UBS AG’s aggregate exposure combined with its decision-making rights indicate the ability to use such power in a principal capacity. Typically, UBS AG will have decision-making rights as fund manager, earning a management fee, and will provide seed capital at the inception of the fund or hold a significant percentage of the fund units. Where other investors do not have the substantive ability to remove UBS as decision maker, UBS AG is deemed to have control and therefore c onsolidates the fund. Securitization SEs are generally consolidated when UBS AG holds a significant percentage of the asset-backed securities issued by the SE and has the power to remove without cause the servicer of the asset portfolio. Client investment SEs are generally consolidated when UBS AG has a substantive liquidation right over the SE or a decision right over the assets held by the SE and has exposure to variable returns through derivatives traded with the SE or holding notes issued by the SE. In 2017 and 2016, UBS AG has not entered into any contractual obligation that could require UBS AG to provide financial support to consolidated SEs. In addition, UBS AG did not provide support, financial or otherwise, to a consolidated SE when UBS AG was not contractually obligated to do so, nor has UBS AG an intention to do so in the future. Further, UBS AG did not provide support, financial or otherwise, to a previously unconsolidated SE that resulted in UBS AG controlling the SE during the reporting period. |
Interests in associates and joi
Interests in associates and joint ventures | 12 Months Ended |
Dec. 31, 2017 | |
Interests In Associates And Joint Ventures [Line Items] | |
Disclosure of interests in associates and joint ventures [text block] | Note 28 Interests in subsidiaries and other entities b) Interests in associates and joint ventures As of 31 December 2017 and 2016 , no associate or joint venture was individually material to the Group. In addition, there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS Group AG or its subsidiaries in the form of cash dividends or to repay loans or advances made . There were no quoted market prices for any associates o r joint ventures of the Group. Investments in associates and joint ventures CHF million 31.12.17 31.12.16 Carrying amount at the beginning of the year 963 954 Additions 3 3 Disposals 0 (2) Share of comprehensive income 98 82 of which: share of net profit 1 75 106 of which: share of other comprehensive income 2 23 (24) Dividends received (51) (50) Impairment (7) 0 Foreign currency translation 12 (23) Carrying amount at the end of the year 1,018 963 of which: associates 989 934 of which: UBS Securities Co. Limited, Beijing 3 401 392 of which: SIX Group AG, Zurich 4 464 426 of which: other associates 124 116 of which: joint ventures 29 29 1 For 2017, consists of CHF 60 million from associates and CHF 15 million from joint ventures. For 2016, consists of CHF 94 million from associates and CHF 12 million from joint ventures. 2 For 2017, consists of CHF 24 million from associates and negative CHF 1 million from joint ventures. For 2016, consists of negative CHF 25 million from associates and CHF 0 million from joint ventures. 3 UBS AG’s equity interest amounts to 24.99%. 4 UBS AG’s equity interest amounts to 17.31%. UBS AG is represented on the Board of Directors. |
UBS AG | |
Interests In Associates And Joint Ventures [Line Items] | |
Disclosure of interests in associates and joint ventures [text block] | Note 28 Interests in subsidiaries and other entities b) Interests in associates and joint ventures As of 31 December 2017 and 2016 , no associate or joint venture was individually material to UBS AG . In addition, there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS AG or its subsidiaries in the form of cash dividends or to repay loans or adva nces made . There were no quoted market prices for any associates or joint ventures of UBS AG . Investments in associates and joint ventures CHF million 31.12.17 31.12.16 Carrying amount at the beginning of the year 963 954 Additions 3 3 Disposals 0 (2) Share of comprehensive income 98 82 of which: share of net profit 1 75 106 of which: share of other comprehensive income 2 23 (24) Dividends received (51) (50) Impairment (7) 0 Foreign currency translation 12 (23) Carrying amount at the end of the year 1,018 963 of which: associates 989 934 of which: UBS Securities Co. Limited, Beijing 3 401 392 of which: SIX Group AG, Zurich 4 464 426 of which: other associates 124 116 of which: joint ventures 29 29 1 For 2017, consists of CHF 60 million from associates and CHF 15 million from joint ventures. For 2016, consists of CHF 94 million from associates and CHF 12 million from joint ventures. 2 For 2017, consists of CHF 24 million from associates and negative CHF 1 million from joint ventures. For 2016, consists of negative CHF 25 million from associates and CHF 0 million from joint ventures. 3 UBS AG's equity interest amounts to 24.99%. 4 UBS AG's equity interest amounts to 17.31%. UBS AG is represented on the Board of Directors. |
Interests in unconsolidated str
Interests in unconsolidated structured entities | 12 Months Ended |
Dec. 31, 2017 | |
Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Unconsolidated Structured Entities Explanatory | Note 28 Interests in subsidiaries and other entities c) Interests in unconsolidated structured entities During 2017, the Group sponsored the creation of various SEs and interacted with a number of non-sponsored SEs, including securitization vehicles, client v ehicles as well as certain investment funds, that UBS did not consolidate as of 31 December 2017 because it did not control these entities. The table below presents the Group’s interests in and maximum exposure to loss from unconsolidated SEs as well as t he total assets held by the SEs in which UBS had an interest as of year-end , except for investment funds sponsored by third parties, for which the carrying value of UBS’s interest as of year-end has been disclosed. Interests in unconsolidated structured entities 31.12.17 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Trading portfolio assets 363 308 6,143 6,815 6,815 Positive replacement values 21 68 22 111 111 Loans 0 0 97 97 97 Financial assets designated at fair value 84 66 2 105 255 1,780 Financial assets available for sale 0 3,865 45 3,910 3,910 Other assets 291 29 2 0 320 1,407 Total assets 760 3 4,337 6,412 11,508 Negative replacement values 20 4 53 203 276 14 Total liabilities 20 53 203 276 Assets held by the unconsolidated structured entities in which UBS had an interest (CHF billion) 57 5 78 6 412 7 31.12.16 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Trading portfolio assets 634 394 6,215 7,243 7,243 Positive replacement values 40 76 101 217 217 Loans 0 0 79 79 79 Financial assets designated at fair value 103 83 2 98 284 1,863 Financial assets available for sale 0 3,381 58 3,439 3,439 Other assets 289 37 2 0 327 1,490 Total assets 1,066 3 3,971 6,552 11,589 Negative replacement values 33 4 346 67 446 90 Total liabilities 33 346 67 446 Assets held by the unconsolidated structured entities in which UBS had an interest (CHF billion) 72 5 102 6 334 7 1 For purposes of this disclosure, maximum exposure to loss amounts do not consider the risk-reducing effects of collateral or other credit enhancements. 2 Represents the carrying value of loan commitments, both designated at fair value and held at amortized cost. The maximum exposure to loss for these instruments is equal to the notional amount. 3 As of 31 December 2017, CHF 0.7 billion of the CHF 0.8 billion (31 December 2016: CHF 1.0 billion of the CHF 1.1 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 4 Comprised of credit default swap (CDS) liabilities and other swap liabilities. The maximum exposure to loss for CDS is equal to the sum of the negative carrying value and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 5 Represents principal amount outstanding. 6 Represents the market value of total assets. 7 Represents the net asset value of the investment funds sponsored by UBS and the carrying value of UBS’s interests in the investment funds not sponsored by UBS. The Group retains or purchases interests in unconsolidated SEs in the form of direct investments, financing, guarantees, letters of credit, derivatives and through management contracts. The Group’s maximum exposure to loss is generally equal to the carrying va lue of the Group’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives , for which the contract’s notional amount, adjusted for losses already incurred, represents the maximum loss that the Group is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure to loss. Risk exposure for these swap instruments could change over time with market mo vements. The maximum exposure to loss disclosed in the table on the previous page does not reflect the Group’s risk management activities, including effects from financial instruments that may be used to economically hedge the risks inherent in the unconso lidated SE or the risk-reducing effects of collateral or other credit enhancements. In 2017 and 2016 , the Group did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has the Group an i ntention to do so in the future. In 2017 and 2016 , income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in net trading income, which have generally been hedged with other financial instr uments, as well as fee and commission income received from UBS - sponsored funds. Interests in securitization vehicles As of 31 December 2017 and 31 December 2016, the Group held interests, both retained and acquired, in various securitization vehicles, a ma jority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, underwriting, secondary market and derivative trading activities. In some cases t he Group may be required to absorb losses from an unconsolidated SE before other parties because the Group’s interest is subordinated to others in the ownership structure. An overview of the Group’s interests in unconsolidated securitization vehicles and the relative ranking and external credit rating of those interests is presented in the table on the following page s . The numbers outlined in this table differ from the securitization positions presented in the 31 December 2017 Pillar 3 report – Group and s ignificant regulated subsidiaries and sub-groups under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , primarily due to: (i) exclusion from the table on the following page of synthetic securitizations transacted with entities that are not SEs and transactions in which the Group did not have an interest because it did not absorb any risk, (ii) a different measurement basis in certain cases (e.g., IFRS carrying value within the table above compared with n et exposure amount at default for Basel III Pillar 3 disclosures) and (iii) different classification of vehicles viewed as sponsored by the Group versus sponsored by third parties. Refer to Note 1 a item 1 for more information on Group’s accountin g policies regarding consolidation and sponsorship of securitization vehicles and other structured entities Refer to the 31 December 2017 Pillar 3 report – Group and significant regulated subsidiaries and sub-groups under “Pillar 3 disclosures” at www.ubs .com/investors for more information Interests in client vehicles As of 31 December 2017 and 31 December 2016 , the Group retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and t o hedge structured product offerings. Included within these investments are securities guaranteed by US government agencies. Interests in investment funds The Group holds interests in a number of investment funds, primarily resulting from seed investments or to hedge structured product offerings. In addition to the interests disclosed in the table on the previous page, the Group manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value o f the fund and / or the performance of the fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund, the jurisdiction of incorporation as well as fee schedules negotiated with clients. These fee contracts represent an interest in the fund as they align the Group’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly fro m the fund assets and / or from the investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. The Group did not have any material exposure to loss from these interests as of 31 December 2017 or as of 31 December 2016 . Interests in unconsolidated securitization vehicles 1 31.12.17 CHF million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 84 24 0 10 118 of which: rated investment grade 0 24 24 of which: rated sub-investment grade 84 84 of which: defaulted 10 10 Interests in junior tranches 0 9 0 0 9 of which: rated investment grade 9 9 Total 84 32 0 10 126 of which: Trading portfolio assets 0 32 0 10 43 of which: Financial assets designated at fair value 84 0 0 0 84 Total assets held by the vehicles in which UBS had an interest (CHF billion) 1 10 0 1 12 Not sponsored by UBS Interests in senior tranches 75 6 165 64 311 of which: rated investment grade 75 6 165 64 311 Interests in mezzanine tranches 9 1 0 0 9 of which: rated investment grade 1 1 of which: defaulted 9 9 Interests in junior tranches 1 0 0 0 1 of which: rated sub-investment grade 1 1 Tranche information not available 0 0 0 0 0 of which: rated investment grade 0 0 of which: not rated 0 0 Total 85 7 165 64 321 of which: Trading portfolio assets 85 7 165 64 321 Total assets held by the vehicles in which UBS had an interest (CHF billion) 18 5 20 0 43 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. Interests in unconsolidated securitization vehicles (continued) 1 31.12.16 CHF million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 103 34 0 14 151 of which: rated investment grade 0 34 34 of which: rated sub-investment grade 103 103 of which: defaulted 14 14 Interests in mezzanine tranches 1 0 0 0 1 of which: rated sub-investment grade 1 1 Total 104 34 0 14 152 of which: Trading portfolio assets 1 34 0 14 49 of which: Financial assets designated at fair value 103 0 0 0 103 Total assets held by the vehicles in which UBS had an interest (CHF billion) 2 13 0 1 16 Not sponsored by UBS Interests in senior tranches 165 4 241 125 535 of which: rated investment grade 165 4 241 125 535 Interests in mezzanine tranches 32 0 0 0 32 of which: rated investment grade 29 29 of which: defaulted 3 3 Interests in junior tranches 18 0 0 0 18 of which: rated investment grade 17 17 of which: rated sub-investment grade 1 1 Total 215 4 241 125 585 of which: Trading portfolio assets 215 4 241 125 585 Total assets held by the vehicles in which UBS had an interest (CHF billion) 41 8 5 1 56 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. Sponsored unconsolidated structured entities in which UBS did not have an interest For several sponsored SEs, no interest was held by the Group at year-end . However, during the respective reporting period the Grou p transferred assets, provided services and held instruments that did not qualify as an interest in these sponsored SEs, and accordingly earned income or incurred expenses from these entities. The table below presents the income earned and expenses incurre d directly from these entities during the year as well as corresponding asset information. The table does not include income earned and expenses incurred from risk management activities, including income and expenses from financial instruments used to econ omically hedge instruments transacted with the unconsolidated SEs. The majority of the fee income arose from investment funds that are sponsored and administrated by the Group, but managed by third parties. As the Group does not provide any active manageme nt services, UBS was not exposed to risk from the performance of these entities and was therefore deemed not to have an interest in them. In certain structures, the fees receivable may be collected directly from the investors and have therefore not been in cluded in the table below. The Group also recorded net trading income from mark-to-market movements arising primarily from derivatives, such as interest rate and currency swaps as well as credit derivatives, through which the Group purchases protection, an d financial liabilities designated at fair value, which do not qualify as interests because the Group does not absorb variability from the performance of the entity. Total income reported does not reflect economic hedges or other mitigating effects from th e Group’s risk management activities. During 2017 , UBS and third parties transferred assets totaling CHF 17 billion ( 2016 : CHF 13 billion) into sponsored securitization and client vehicles created in 2017 . For sponsored investment funds, transfers arose during the period as investors invested and redeemed positions, thereby changing the overall size of the funds, which, when combined with market movements, resulted in a total closing net asset value of CHF 1 5 billion (31 December 2016 : CHF 14 billion). Sponsored unconsolidated structured entities in which UBS did not have an interest at year-end 1 As of or for the year ended 31.12.17 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 2 (9) 0 (7) Net fee and commission income 0 0 40 40 Net trading income (8) (49) 2 (55) Total income (6) (58) 43 (21) Asset information (CHF billion) 10 2 7 3 15 4 As of or for the year ended 31.12.16 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 3 (6) 0 (3) Net fee and commission income 0 0 53 53 Net trading income 2 (158) 29 (128) Total income 4 (165) 82 (78) Asset information (CHF billion) 7 2 6 3 14 4 1 These tables exclude profit attributable to non-controlling interests of CHF 72 million for the year ended 31 December 2017 and CHF 78 million for the year ended 31 December 2016. 2 Represents the amount of assets transferred to the respective securitization vehicles. Of the total amount transferred, CHF 2 billion was transferred by UBS (31 December 2016: CHF 2 billion) and CHF 8 billion was transferred by third parties (31 December 2016: CHF 5 billion). 3 Represents total assets transferred to the respective client vehicles. Of the total amount transferred, CHF 6 billion was transferred by UBS (31 December 2016: CHF 5 billion) and CHF 1 billion was transferred by third parties (31 December 2016: CHF 1 billion). 4 Represents the total net asset value of the respective investment funds. |
UBS AG | |
Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Unconsolidated Structured Entities Explanatory | Note 28 Interests in subsidiaries and other entities c) Interests in unconsolidated structured entities During 2017, UBS AG sponsored the creation of various SEs and interac ted with a number of non-sponsored SEs, including securitization vehicles, client vehicles as well as certain investment funds, which UBS did not consolidate as of 31 December 2017 because it did not control these entities. The table below presents UBS AG ’ s interests in and maximum exposure to loss from unconsolidated SEs as well as the total assets held by the SEs in which UBS had an interest as of year-end , except for investment funds sponsored by third parties, for which the carrying value of UBS’s inte rest as of year-end has been disclosed. Interests in unconsolidated structured entities 31.12.17 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Trading portfolio assets 363 308 6,143 6,815 6,815 Positive replacement values 21 68 22 111 111 Loans 0 0 97 97 97 Financial assets designated at fair value 84 66 2 0 150 1,675 Financial assets available for sale 0 3,865 45 3,910 3,910 Other assets 291 29 2 0 320 1,407 Total assets 760 3 4,337 6,307 11,403 Negative replacement values 20 4 53 203 276 14 Total liabilities 20 53 203 276 Assets held by the unconsolidated structured entities in which UBS had an interest (CHF billion) 57 5 78 6 412 7 31.12.16 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Trading portfolio assets 634 394 6,215 7,243 7,243 Positive replacement values 40 76 101 217 217 Loans 0 0 79 79 79 Financial assets designated at fair value 103 83 2 0 186 1,765 Financial assets available for sale 0 3,381 58 3,439 3,439 Other assets 289 37 2 0 327 1,490 Total assets 1,066 3 3,971 6,454 11,491 Negative replacement values 33 4 346 67 446 90 Total liabilities 33 346 67 446 Assets held by the unconsolidated structured entities in which UBS had an interest (CHF billion) 72 5 102 6 334 7 1 For purposes of this disclosure, maximum exposure to loss amounts do not consider the risk-reducing effects of collateral or other credit enhancements. 2 Represents the carrying value of loan commitments, both designated at fair value and held at amortized cost. The maximum exposure to loss for these instruments is equal to the notional amount. 3 As of 31 December 2017, CHF 0.7 billion of the CHF 0.8 billion (31 December 2016: CHF 1.0 billion of the CHF 1.1 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 4 Comprised of credit default swap (CDS) liabilities and other swap liabilities. The maximum exposure to loss for CDS is equal to the sum of the negative carrying value and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 5 Represents principal amount outstanding. 6 Represents the market value of total assets. 7 Represents the net asset value of the investment funds sponsored by UBS and the carrying value of UBS’s interests in the investment funds not sponsored by UBS. UBS AG retains or purchases interests in unconsolidated SEs in the form of direct investments, financing, guarantees, letters of credit, derivatives and through m anagement contracts. UBS AG ’ s maximum exposure to loss is generally equal to the carrying value of UBS AG ’ s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives , for which the contract’s notional amount, adjusted f or losses already incurred, represents the maximum loss that UBS AG is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure t o loss. Risk exposure for these swap instruments could change over time with market movements. The maximum exposure to loss disclosed in the table on the previous page does not reflect UBS AG ’ s risk management activities, including effects from financial i nstruments that may be used to economically hedge the risks inherent in the unconsolidated SE or the risk-reducing effects of collateral or other credit enhancements. In 2017 and 2016 , UBS AG did not provide support, financial or otherwise, to an unc onsolidated SE when not contractually obligated to do so, nor has UBS AG an intention to do so in the future. In 2017 and 2016 , income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in ne t trading income, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS - sponsored funds. Interests in securitization vehicles As of 31 December 2017 and 31 December 2016, UBS AG held inter ests, both retained and acquired, in various securitization vehicles, a majority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, underwr iting, secondary market and derivative trading activities. In some cases UBS AG may be required to absorb losses from an unconsolidated SE before other parties because UBS AG ’ s interest is subordinated to others in the ownership structure. An overview of U BS AG’s interests in unconsolidated securitization vehicles and the relative ranking and external credit rating of those interests is presented in the t able on the following pages. Refer to Note 1 a item 1 for more information on UBS AG’s accounti ng policies regarding consolidation and sponsorship of securitization vehicles and other structured entities Interests in client vehicles As of 31 December 2017 and 31 December 2016 , UBS AG retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and to hedge structured product offerings. Included within these investments are securities guaranteed by US government agencies. Interests in investment funds UBS AG holds interests in a number of investment funds, primarily resulting from seed investments or to hedge structured product offerings. In addition to the interests disclosed in the table on the previous page, UBS AG manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value of the fund and / or the performance of the fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund, the jurisdiction of incorporation as well as fee schedules negotiated with clients. These fee contracts represent an interest in the fund as they align UBS AG’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly from the fund assets and / or from the investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. UBS AG did not have any material expos ure to loss from these interests as of 31 December 2017 or as of 31 December 2016 . Interests in unconsolidated securitization vehicles 1 31.12.17 CHF million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 84 24 0 10 118 of which: rated investment grade 0 24 24 of which: rated sub-investment grade 84 84 of which: defaulted 10 10 Interests in junior tranches 0 9 0 0 9 of which: rated investment grade 9 9 Total 84 32 0 10 126 of which: Trading portfolio assets 0 32 0 10 43 of which: Financial assets designated at fair value 84 0 0 0 84 Total assets held by the vehicles in which UBS had an interest (CHF billion) 1 10 0 1 12 Not sponsored by UBS Interests in senior tranches 75 6 165 64 311 of which: rated investment grade 75 6 165 64 311 Interests in mezzanine tranches 9 1 0 0 9 of which: rated investment grade 1 1 of which: defaulted 9 9 Interests in junior tranches 1 0 0 0 1 of which: rated sub-investment grade 1 1 Tranche information not available 0 0 0 0 0 of which: rated investment grade 0 0 of which: not rated 0 0 Total 85 7 165 64 321 of which: Trading portfolio assets 85 7 165 64 321 Total assets held by the vehicles in which UBS had an interest (CHF billion) 18 5 20 0 43 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. Interests in unconsolidated securitization vehicles (continued) 1 31.12.16 CHF million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 103 34 0 14 151 of which: rated investment grade 0 34 34 of which: rated sub-investment grade 103 103 of which: defaulted 14 14 Interests in mezzanine tranches 1 0 0 0 1 of which: rated sub-investment grade 1 1 Total 104 34 0 14 152 of which: Trading portfolio assets 1 34 0 14 49 of which: Financial assets designated at fair value 103 0 0 0 103 Total assets held by the vehicles in which UBS had an interest (CHF billion) 2 13 0 1 16 Not sponsored by UBS Interests in senior tranches 165 4 241 125 535 of which: rated investment grade 165 4 241 125 535 Interests in mezzanine tranches 32 0 0 0 32 of which: rated investment grade 29 29 of which: defaulted 3 3 Interests in junior tranches 18 0 0 0 18 of which: rated investment grade 17 17 of which: rated sub-investment grade 1 1 Total 215 4 241 125 585 of which: Trading portfolio assets 215 4 241 125 585 Total assets held by the vehicles in which UBS had an interest (CHF billion) 41 8 5 1 56 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. Sponsored unconsol idated structured entities in which UBS did not have an interest For several sponsored SEs, no interest was held by UBS AG at year-end . However, during the respective reporting period UBS AG transferred assets, provided services and held instruments that did not qualify as an interest in these sponsored SEs, and accordingly earned income or incurred expenses from these entities. The table below presents the income earned and expenses incurred directly from these entities during the year as well as correspo nding asset information. The table does not include income earned and expenses incurred from risk management activities, including income and expenses from financial instruments used to economically hedge instruments transacted with the unconsolidated SEs. The majority of the fee income arose from investment funds that are sponsored and administrated by UBS AG, but managed by third parties. As UBS AG does not provide any active management services, UBS was not exposed to risk from the performance of these e ntities and was therefore deemed not to have an interest in them. In certain structures, the fees receivable may be collected directly from the investors and have therefore not been included in the table below. UBS AG also recorded net trading income from mark-to-market movements arising primarily from derivatives, such as interest rate and currency swaps as well as credit derivatives, through which UBS AG purchases protection, and financial liabilities designated at fair value, which do not qualify as inte rests because UBS AG does not absorb variability from the performance of the entity. Total income reported does not reflect economic hedges or other mitigating effects from UBS AG ’ s risk management activities. During 2017 , UBS and third parties transfer red assets totaling CHF 17 billion ( 2016 : CHF 13 billion) into sponsored securitization and client vehicles created in 2017 . For sponsored investment funds, transfers arose during the period as investors invested and redeemed positions, thereby chang ing the overall size of the funds, which, when combined with market movements, resulted in a total closing net asset value of CHF 15 billion (31 December 2016 : CHF 14 billion). Sponsored unconsolidated structured entities in which UBS did not have an interest at year-end 1 As of or for the year ended 31.12.17 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 2 (9) 0 (7) Net fee and commission income 0 0 40 40 Net trading income (8) (49) 2 (55) Total income (6) (58) 43 (21) Asset information (CHF billion) 10 2 7 3 15 4 As of or for the year ended 31.12.16 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 3 (6) 0 (3) Net fee and commission income 0 0 53 53 Net trading income 2 (158) 29 (128) Total income 4 (165) 82 (78) Asset information (CHF billion) 7 2 6 3 14 4 1 These tables exclude profit attributable to preferred noteholders of CHF 72 million for the year ended 31 December 2017 and CHF 78 million for the year ended 31 December 2016. 2 Represents the amount of assets transferred to the respective securitization vehicles. Of the total amount transferred, CHF 2 billion was transferred by UBS (31 December 2016: CHF 2 billion) and CHF 8 billion was transferred by third parties (31 December 2016: CHF 5 billion). 3 Represents total assets transferred to the respective client vehicles. Of the total amount transferred, CHF 6 billion was transferred by UBS (31 December 2016: CHF 5 billion) and CHF 1 billion was transferred by third parties (31 December 2016: CHF 1 billion). 4 Represents the total net asset value of the respective investment funds. |
Business combinations
Business combinations | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Line Items] | |
Disclosure Of Business Combinations Explanatory | N ote 29 Business combinations In 2017 and 2016, UBS did not complete any significant business combinations. |
UBS AG | |
Business Combinations [Line Items] | |
Disclosure Of Business Combinations Explanatory | N ote 29 Business combinations In 2017 and 2016, UBS did not complete any significant business combinations. |
Changes in organization and dis
Changes in organization and disposals | 12 Months Ended |
Dec. 31, 2017 | |
Changes In Organization And Disposals [Line Items] | |
Disclosure of changes in organization and disposals [text block] | Note 30 Changes in organization and disposals Measures to improve the resolvability of the UBS Group In December 2014, UBS Group AG became the holding company of the UBS Group. In 2015, UBS transferred its Personal & Corporate Banking and Wealth Management businesses booked in Switzerland from UBS AG to UBS Switzerland AG and implemented a more self-sufficient business and operating model for UBS Limited. UBS Business Solutions AG was established in 2015 as a direct subsidiary of UBS Group AG to act as the Group service company. In the second half of 2015, UBS transferred the ownership of the majority of its existing service subsidiaries outside the US to UBS Business Solutions AG. In 2017, shared services functions in Switzerland and the UK were transferred from UBS AG to UBS Business Solutions AG, which is the Group service company and a wholly owned subsidiary of UBS Group AG. UBS also complete d the transfer of the shared services employees in the US to its US service company, UBS Business Solutions US LLC, a wholly owned subsidiary of UBS Americas Holding LLC. In addition, UBS transferred the majority of the operating subsidiaries of Asset Man agement to UBS Asset Management AG during 2016. Furthermore, UBS merged its Wealth Management subsidiaries in Italy, Luxembourg (including its branches in Austria, Denmark and Sweden), the Netherlands and Spain into UBS Deutschland AG, which was renamed to UBS Europe SE, to establish UBS’s new European legal entity, which is headquartered in Frankfurt, Germany. UBS established UBS Group Funding (Switzerland) AG in 2016 as a wholly owned direct subsidiary of UBS Group AG, to issue loss-absorbing additional t ier 1 (AT1) capital instruments and total loss-absorbing capacity (TLAC)-eligible senior unsecured debt, which are guaranteed by UBS Group AG. In the first half of 2017, UBS transferred the then outstanding TLAC-eligible senior unsecured debt to UBS Group Funding (Switzerland) AG as the issuer. Sale of subsidiaries and businesses In the fourth quarter of 2017, UBS completed the sale of Asset Management’s fund administration servicing units in Luxembourg an d Switzerland to Northern Trust, resulting in a pre-tax gain on sale of CHF 153 million. In the second quarter of 2017, UBS completed the sale of a life insurance subsidiary within Wealth Management. A loss on sale of CHF 23 million was recognized in 2016 relating to this transaction. Pr ior to completion of the sale, the assets and liabilities of this business were presented as a disposal group held for sale within Other assets and Other liabilities (31 December 2016: CHF 5.1 billion and CHF 5.2 billion, respectively). In 2015, UBS sold i ts Alternative Fund Services (AFS) business to Mitsubishi UFJ Financial Group Investor Services. Upon completion of the sale, UBS recognized a gain on sale of CHF 56 million and reclassified an associated net foreign currency translation gain of CHF 119 mi llion from Other comprehensive income to the income statement . Also during 2015, UBS completed the sale of certain subsidiaries and businesses within Wealth Management, which resulted in the recognition of a combined net gain of CHF 169 million. Restructur ing expenses Restructuring expenses arise from programs that materially change either the scope of business that the Group engages in or the manner in which such business is conducted. Restructuring expenses are necessary to effect such programs and includ e items such as severance and other personnel-related expenses, duplicate headcount costs, impairment and accelerated depreciation of assets, contract termination costs, consulting fees, and related infrastructure and system costs. These costs are presente d in the income statement according to the underlying nature of the expense. Net restructuring expenses by business division and Corporate Center unit For the year ended CHF million 31.12.17 31.12.16 31.12.15 Wealth Management 463 447 323 Wealth Management Americas 113 139 137 Personal & Corporate Banking 103 117 101 Asset Management 100 100 82 Investment Bank 359 577 396 Corporate Center 30 78 196 of which: Services 19 57 140 of which: Group ALM 4 0 0 of which: Non-core and Legacy Portfolio 6 21 56 Total net restructuring expenses 1,168 1,458 1,235 of which: personnel expenses 534 751 460 of which: general and administrative expenses 627 695 761 of which: depreciation and impairment of property, equipment and software 7 11 12 of which: amortization and impairment of intangible assets 0 0 2 Net restructuring expenses by personnel expense category For the year ended CHF million 31.12.17 31.12.16 31.12.15 Salaries 346 435 312 Variable compensation – performance awards 34 102 38 Variable compensation – other 98 209 108 Contractors 62 56 46 Social security 8 8 5 Pension and other post-employment benefit plans (29) (75) (65) Other personnel expenses 15 17 15 Total net restructuring expenses: personnel expenses 534 751 460 Net restructuring expenses by general and administrative expense category For the year ended CHF million 31.12.17 31.12.16 31.12.15 Occupancy 75 123 109 Rent and maintenance of IT and other equipment 93 94 31 Communication and market data services 1 1 0 Administration 25 16 6 Marketing and public relations 1 0 0 Travel and entertainment 14 16 17 Professional fees 186 162 187 Outsourcing of IT and other services 240 289 316 Other 1 (8) (5) 95 Total net restructuring expenses: general and administrative expenses 627 695 761 1 Mainly comprised of onerous real estate lease contracts. |
UBS AG | |
Changes In Organization And Disposals [Line Items] | |
Disclosure of changes in organization and disposals [text block] | Note 30 Changes in organization and disposals Measures to improve the resolvability of the UBS Group In December 2014, UBS Group AG became the holding company of the UBS Group. In 2015, UBS transferred its Personal & Corporate Banking and Wealth Management businesses booked in Switzerland from UBS AG to UBS Switzerland AG and implemented a more self-suffi cient business and operating model for UBS Limited. UBS Business Solutions AG was established in 2015 as a direct subsidiary of UBS Group AG to act as the UBS Group service company. In the second half of 2015, UBS AG transferred the ownership of the major ity of its existing service subsidiaries outside the US to UBS Business Solutions AG , and in 2017 shared services functions in Switzerland and the UK were transferred from UBS AG to UBS Business Solutions AG. UBS AG also completed the transfer of the share d service s functions in the US to its US service company, UBS Business Solutions US LLC, a wholly owned subsidiary of UBS Americas Holding LLC. In addition, UBS AG transferred the majority of the operating subsidiaries of Asset Management to UBS Asset Man agement AG during 2016. Furthermore, UBS AG merged its Wealth Management subsidiaries in Italy, Luxembourg (including its branches in Austria, Denmark and Sweden), the Netherlands and Spain into UBS Deutschland AG, which was renamed to UBS Europe SE, to es tablish UBS AG’s new European legal entity, which is headquartered in Frankfurt, Germany. Transfers of shared services functions to UBS Business Solutions AG In 2017, UBS transferred shared services functions in Switzerland and the UK from UBS AG to UBS Bu siness Solutions AG. The transfer in Switzerland to UBS Business Solutions AG was executed in the second quarter of 2017. For UK shared services, a similar transfer to the UK branch of UBS Business Solutions AG was completed in the fourth quarter of 2017. The transfer in Switzerland was effected by a distribution of the shares of an interim shared services subsidiary of UBS AG to UBS Group AG through a dividend in kind, and the merger of the subsidiary with the previously established UBS Business Solutions AG. The transfer resulted in a CHF 307 million reduction of net assets and of share premium within equity attributable to shareholders. The transfe rred functions include Group Technology, Group Operations, Group Corporate Services and most other shared services functions. As a consequence, UBS AG no longer incurs the respective direct costs, no longer charges other Group entities for underlying servi ces and no longer earns a related markup, but rather receives a charge including a markup from a service company for its own consumption of services provided by the service compan y . UBS AG retained the vast majority of its real estate portfolio and selecte d other Corporate Center – Services functions and continues to charge UBS Business Solutions AG for services provided to it , earning a markup. The new shared services model resulted in a reduction of Operating profit before tax for UBS AG consolidated of approximately CHF 0.1 billion for the year 2017. This amount includes net increases in Other income of approximately CHF 0.3 billion and General and administrative expenses of approximately CHF 1.7 billion and net decreases in Personnel expenses of approxi mately CHF 1.2 billion and Depreciation and impairment of property, equipment and software of approximately CHF 0.1 billion. Sale of subsidiaries and businesses In the fourth quarter of 2017, UBS AG completed the sale of Asset Management’s fund administrat ion servicing units in Luxembourg an d Switzerland to Northern Trust, resulting in a pre-tax gain on sale of CHF 153 million. In the second quarter of 2017, UBS AG completed the sale of a life insurance subsidiary within Wealth Management. A loss on sale of CHF 23 million was recognized in 2016 relating to this transaction. Prior to completion of the sale, the assets and liabilities of this business were presented as a disposal group held for sale within Other assets and Other liabilities (31 December 2016: CHF 5.1 billion and CHF 5.2 billion, respectively). In 2015, UBS AG sold its Alternative Fund Services (AFS) business to Mitsubishi UFJ Financial Group Investor Services. Upon completion of the sale, UBS AG recognized a gain on sale of CHF 56 million and r eclassified an associated net foreign currency translation gain of CHF 119 million from Other comprehensive income to the income statement . Also during 2015, UBS AG completed the sale of certain subsidiaries and businesses within Wealth Management, which r esulted in the recognition of a combined net gain of CHF 169 million. Restructuring expenses Restructuring expenses arise from programs that materially change either the scope of business that UBS AG engages in or the manner in which such business is condu cted. Restructuring expenses are necessary to effect such programs and include items such as severance and other personnel-related expenses, duplicate headcount costs, impairment and accelerated depreciation of assets, contract termination costs, consultin g fees, and related infrastructure and system costs. These costs are presented in the income statement according to the underlying nature of the expense. Net restructuring expenses by business division and Corporate Center unit For the year ended CHF million 31.12.17 31.12.16 31.12.15 Wealth Management 463 447 323 Wealth Management Americas 113 139 137 Personal & Corporate Banking 103 117 101 Asset Management 100 100 82 Investment Bank 359 577 396 Corporate Center 49 62 194 of which: Services 39 41 138 of which: Group ALM 4 0 0 of which: Non-core and Legacy Portfolio 6 21 56 Total net restructuring expenses 1,188 1,442 1,233 of which: personnel expenses 362 731 458 of which: general and administrative expenses 818 700 760 of which: depreciation and impairment of property, equipment and software 7 11 12 of which: amortization and impairment of intangible assets 0 0 2 Net restructuring expenses by personnel expense category For the year ended CHF million 31.12.17 31.12.16 31.12.15 Salaries 213 422 311 Variable compensation – performance awards 22 101 38 Variable compensation – other 80 208 108 Contractors 48 56 46 Social security 6 8 5 Pension and other post-employment benefit plans (15) (76) (65) Other personnel expenses 8 12 15 Total net restructuring expenses: personnel expenses 362 731 458 Net restructuring expenses by general and administrative expense category For the year ended CHF million 31.12.17 31.12.16 31.12.15 Occupancy 75 123 109 Rent and maintenance of IT and other equipment 36 93 31 Communication and market data services 1 1 0 Administration 397 28 7 Marketing and public relations 1 0 0 Travel and entertainment 8 12 16 Professional fees 143 162 187 Outsourcing of IT and other services 166 287 316 Other 1 (8) (5) 95 Total net restructuring expenses: general and administrative expenses 818 700 760 1 Mainly comprised of onerous real estate lease contracts. |
Operating leases and finance le
Operating leases and finance leases | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Operating Leases And Finance Leases [Line Items] | |
Disclosure Of Leases Explanatory | Note 31 Operating leases and finance leases Information on lease contracts classified as operating leases where UBS is the lessee is provided in Note 31 a and information on finance leases where UBS acts as a lessor is provided in Note 31 b . a) Operating lease commitments As of 31 De cember 2017, UBS was obligated under a number of non-cancelable operating leases for premises and equipment used primarily for banking purposes. The significant premises leases usually include renewal options and escalation clauses in line with general off ice rental market conditions, as well as rent adjustments based on price indices. However, the lease agreements do not contain contingent rent payment clauses and purchase options, nor do they impose any restrictions on UBS’s ability to pay dividends, enga ge in debt financing transactions or enter into further lease agreements. CHF million 31.12.17 Expenses for operating leases to be recognized in: 2018 666 2019 602 2020 516 2021 429 2022 382 2023 and thereafter 2,013 Subtotal commitments for minimum payments under operating leases 4,608 Less: Sublease rental income commitments 262 Net commitments for minimum payments under operating leases 4,346 CHF million 31.12.17 31.12.16 31.12.15 Gross operating lease expense recognized in the income statement 725 749 743 Sublease rental income 67 78 70 Net operating lease expense recognized in the income statement 658 671 673 b) Finance lease receivables UBS leases a variety of assets to third parties under finance leases, such as commercial vehicles, production lines, medical equipment, construction equipment and aircraft. At the end of the respective lease term, assets may be sold to third parties or further leased. Lessees may participate in any sale s proceeds achieved. Lease expenses cover the cost of the assets less their residual value as well as financing costs. As of 31 December 2017, unguaranteed residual values of CHF 158 million had been accrued, and the accumulated allowance for uncollectible minimum lease payments receivable amounted to CHF 10 million. No contingent rents were received in 2017. Lease receivables CHF million 31.12.17 Total minimum lease payments Unearned finance income Present value 2018 333 22 311 2019–2022 684 36 648 Thereafter 112 3 110 Total 1,129 61 1,069 |
UBS AG | |
Disclosure Of Operating Leases And Finance Leases [Line Items] | |
Disclosure Of Leases Explanatory | Note 31 Operating leases and finance leases Information on lease contracts classified as operating leases where UBS is the lessee is provided in Note 31 a and information on finance leases where UBS acts as a lessor is provided in Note 31 b . a) Operating lease commitments As of 31 De cember 2017, UBS was obligated under a number of non-cancelable operating leases for premises and equipment used primarily for banking purposes. The significant premises leases usually include renewal options and escalation clauses in line with general off ice rental market conditions, as well as rent adjustments based on price indices. However, the lease agreements do not contain contingent rent payment clauses and purchase options, nor do they impose any restrictions on UBS’s ability to pay dividends, enga ge in debt financing transactions or enter into further lease agreements. CHF million 31.12.17 Expenses for operating leases to be recognized in: 2018 652 2019 588 2020 506 2021 422 2022 375 2023 and thereafter 1,984 Subtotal commitments for minimum payments under operating leases 4,526 Less: Sublease rental income commitments 262 Net commitments for minimum payments under operating leases 4,265 CHF million 31.12.17 31.12.16 31.12.15 Gross operating lease expense recognized in the income statement 684 737 741 Sublease rental income 67 78 70 Net operating lease expense recognized in the income statement 617 659 671 b) Finance lease receivables UBS leases a variety of assets to third parties under finance leases, such as commercial vehicles, production lines, medical equipment, construction equipment and aircraft. At the end of the respective lease term, assets may be sold to third parties or further leased. Lessees may participate in any sale s proceeds achieved. Lease expenses cover the cost of the assets less their residual value as well as financing costs. As of 31 December 2017, unguaranteed residual values of CHF 158 million had been accrued, and the accumulated allowance for uncollectible minimum lease payments receivable amounted to CHF 10 million. No contingent rents were received in 2017. Lease receivables CHF million 31.12.17 Total minimum lease payments Unearned finance income Present value 2018 333 22 311 2019–2022 684 36 648 Thereafter 112 3 110 Total 1,129 61 1,069 |
Related parties
Related parties | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Related Parties [Line Items] | |
Disclosure Of Related Party Explanatory | Note 32 Related parties UBS defines related parties as associates (entities that are significantly influenced by UBS), joint ventures (entities in which UBS shares control with another party), post-employment benefit plans for UBS employees, key management personnel, close family members of key management personnel and entities that ar e, directly or indirectly, controlled or jointly controlled by key management personnel or their close family members. Key management personnel is defined as members of the Board of Directors ( BoD ) and Group Executive Board (GEB). a) Remuneration of key management personnel The Chairman of the BoD has a specific management employment contract and receives pension benefits upon retirement. Total remuneration of the Chairman of the Board of Directors and all GEB members is included in the table below . Remuneration of key management personnel CHF million 31.12.17 31.12.16 31.12.15 Base salaries and other cash payments 1 25 25 23 Incentive awards – cash 2 15 11 10 Annual incentive award under DCCP 22 22 21 Employer’s contributions to retirement benefit plans 3 3 2 Benefits in kind, fringe benefits (at market value) 2 2 2 Equity-based compensation 3 40 41 42 Total 106 104 99 1 Includes role-based allowances that have been made in line with market practice in response to the EU Capital Requirements Directive of 2013 (CRD IV). 2 Includes immediate and deferred cash. 3 Expenses for shares granted are calculated at grant date of the respective award and allocated over the vesting period, generally for 5 years. Refer to Note 27 for more information. In 2017, 2016 and 2015, equity-based compensation was entirely comprised of EOP awards. The independent members of the BoD do not have employment or service contracts with UBS, and thus are not entitled to benefits upon termination of their service on the BoD . Payments to these individuals for their services as ex ternal board members amounted to CHF 7.1 million in 2017, CHF 7.2 million in 2016 and CHF 6.7 million in 2015. b) Equity holdings of key management personnel Equity holdings of key management personnel 31.12.17 31.12.16 Number of stock options from equity participation plans held by non-independent members of the BoD and the GEB members 1 398,867 620,950 Number of shares held by members of the BoD, GEB and parties closely linked to them 2 3,709,539 3,267,911 1 Refer to Note 27 for more information. 2 Excludes shares granted under variable compensation plans with forfeiture provisions. Of the share totals above, 95,597 shares were held by close family mem bers of key management personnel on 31 December 2017 and 31 December 2016. No shares were held by entities that are directly or indirectly controlled or jointly controlled by key management personnel or their close family members on 31 December 2017 and 31 December 2016. Refer to Note 27 for more information. As of 31 December 2017, no member of the BoD or GEB was the beneficial owner of more than 1% of UBS Group AG’s shares. c) Loans, advances and mortgages to key management personnel The non-independent member s of the BoD and GEB members are granted loans, fixed advances and mortgages in the ordinary course of business on substantially the same terms and conditions that are available to other employees, including interest rates and collateral, and neither involve more than the normal risk of collecti bility nor contain any other unfavorable features for the firm. Independent BoD members are granted loans and mortgages in the ordinary course of business at general market conditions. Movements in the loan, advances and mortgage balances are as follows. Loans, advances and mortgages to key management personnel 1 CHF million 2017 2016 Balance at the beginning of the year 41 33 Additions 1 21 Reductions (1) (13) Balance at the end of the year 2 41 41 1 All loans are secured loans. 2 Excludes unused uncommitted credit facilities for two GEB members and one BoD member of CHF 5,196,294 as of 31 December 2017 and for one GEB and one BoD member of CHF 2,684,498 as of 31 December 2016. d) Other related party transactions with entiti es controlled by key management personnel In 2017 and 2016, UBS did not enter into transactions with entities that are directly or indirectly controlled or jointly controlled by UBS’s key management personnel or their close family members and as of 31 December 2017, 31 December 2016 and 31 December 2015, there were no outstanding balances related to such transactions. Furthermore, in 2017 and 2016, entities controlled by key management personnel did not sell any goods or provide an y services to UBS, and therefore did not receive any fees from UBS. UBS also did not provide services to such entities in 2017 and 2016, and therefore also received no fees. e) Transactions with associates and joint ventures Loans to and outstanding receivables from associates and joint ventures CHF million 2017 2016 Carrying value at the beginning of the year 472 476 Additions 82 4 Reductions (3) (8) Carrying value at the end of the year 551 472 of which: unsecured loans 540 461 Other transactions with associates and joint ventures As of or for the year ended CHF million 31.12.17 31.12.16 Payments to associates and joint ventures for goods and services received 177 153 Fees received for services provided to associates and joint ventures 2 3 Commitments and contingent liabilities to associates and joint ventures 4 4 Refer to Note 28 for an overview of investments in associates and joint ventures |
UBS AG | |
Disclosure Related Parties [Line Items] | |
Disclosure Of Related Party Explanatory | Note 32 Related parties UBS AG defines related parties as associates (entities that are significantly influenced by UBS), joint ventures (entities in which UBS shares control with another party), post-employment benefit plans for UBS AG employees, key management personnel, close family members of key management personnel and entities tha t are, directly or indirectly, controlled or jointly controlled by key management personnel or their close family members. Key management personnel is defined as members of the Board of Directors ( BoD ) and Executive Board (EB). a) Remuneration of key management personnel The Chairman of the BoD has a specific management employment contract and receives pension benefits upon retirement. Total remuneration of the Chairman of the Board of Directors and a ll EB members is included in the table below . Remuneration of key management personnel CHF million 31.12.17 31.12.16 31.12.15 Base salaries and other cash payments 1 23 24 21 Incentive awards – cash 2 13 10 9 Annual incentive award under DCCP 20 20 20 Employer’s contributions to retirement benefit plans 2 2 1 Benefits in kind, fringe benefits (at market value) 2 2 2 Equity-based compensation 3 36 38 39 Total 98 97 92 1 Includes role-based allowances that have been made in line with market practice in response to the EU Capital Requirements Directive of 2013 (CRD IV). 2 Includes immediate and deferred cash. 3 Expenses for shares granted are calculated at grant date of the respective award and allocated over the vesting period, generally for 5 years. Refer to Note 27 for more information. In 2017, 2016 and 2015, equity-based compensation was entirely comprised of EOP awards. The independent members of the BoD do not have employment or service contracts with UBS AG, and thus are not entitled to benefits upon termination of their service on the BoD . Payments to these individuals for their services as external board members amounted to CHF 7.1 million i n 2017, CHF 7.2 million in 2016 and CHF 6.7 million in 2015. b) Equity holdings of key management personnel Equity holdings of key management personnel 31.12.17 31.12.16 Number of stock options from equity participation plans held by non-independent members of the BoD and the EB members 1 398,867 620,950 Number of shares held by members of the BoD, EB and parties closely linked to them 2 3,709,539 3,267,911 1 Refer to Note 27 for more information. 2 Excludes shares granted under variable compensation plans with forfeiture provisions. Of the share totals above, 95,597 shares were held by close family mem bers of key management personnel on 31 December 2017 and 31 December 2016. No shares were held by entities that are directly or indirectly controlled or jointly controlled by key management personnel or their close family members on 31 December 2017 and 31 December 2016. Refer to Note 27 for more information. As of 31 December 2017, no member of the BoD or EB was the beneficial owner of more than 1% of UBS Group AG’s shares. c) Loans, advances and mortgages to key management personnel The non-independent member s of the BoD and EB members are granted loans, fixed advances and mortgages in the ordinary course of business on substantially the same terms and conditions that are available to other employees, including interest rates and collateral, and neither involve more than the normal risk of collecti bility nor contain any other unfavorable features for the firm. Independent BoD members are granted loans and mortgages in the ordinary course of business at general market conditions. Movements in the loan, advances and mortgage balances are as follows. Loans, advances and mortgages to key management personnel 1 CHF million 2017 2016 Balance at the beginning of the year 33 33 Additions 1 13 Reductions (1) (13) Balance at the end of the year 2 34 33 1 All loans are secured loans. 2 Excludes unused uncommitted credit facilities for two EB members and one BoD member of CHF 5,196,294 as of 31 December 2017 and for one EB and one BoD member of CHF 2,684,498 as of 31 December 2016. d) Other related party transactions with entiti es controlled by key management personnel In 2017 and 2016, UBS AG did not enter into transactions with entities that are directly or indirectly controlled or jointly controlled by UBS AG’s key management personnel or their close family members and as of 31 December 2017, 31 December 2016 and 31 December 2015, there were no outstanding balances related to such transactions. Furthermore, in 2017 and 2016, entities controlled by key management personnel did not sell any goods or prov ide any services to UBS AG, and therefore did not receive any fees from UBS AG. UBS AG also did not provide services to such entities in 2017 and 2016, and therefore also received no fees. e) Transactions with associates and joint ventures Loans to and outstanding receivables from associates and joint ventures CHF million 2017 2016 Carrying value at the beginning of the year 472 476 Additions 82 4 Reductions (3) (8) Carrying value at the end of the year 551 472 of which: unsecured loans 540 461 Other transactions with associates and joint ventures As of or for the year ended CHF million 31.12.17 31.12.16 Payments to associates and joint ventures for goods and services received 177 153 Fees received for services provided to associates and joint ventures 2 3 Commitments and contingent liabilities to associates and joint ventures 4 4 Refer to Note 28 for an overview of investments in associates and joint ventures f) Receivables and payables from / to UBS Group AG and other subsidiaries of UBS Group AG CHF million 2017 2016 Receivables Loans 2,152 681 Trading portfolio assets 98 84 Other assets 113 35 Payables Due to customers 1 38,150 26,527 Other liabilities 1,547 1,111 1 Includes Group-internal funding obtained from UBS Group AG and UBS Group Funding (Switzerland) AG of CHF 35 billion as of 31 December 2017 (31 December 2016: CHF 25 billion). |
Invested assets and net new mon
Invested assets and net new money | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Invested Assets And Net New Money [Line Items] | |
Disclosure Of InvestedAssets And Net New Money Explanatory | Note 33 Invested assets and net new money Invested assets Invested assets include all client assets managed by or deposited with UBS for investment purposes. Invested assets include managed fund assets, managed institutional assets, discretionary and advisory wealth management portfolios, fiduciary deposits, time deposits, savings accounts and wealth management securities or broker age accounts. All assets held for purely transactional purposes and custody-only assets, including corporate client assets held for cash management and transactional purposes, are excluded from invested assets as the Group only administers the assets and d oes not offer advice on how the assets should be invested. Also excluded are non-bankable assets (e.g., art collections) and deposits from third-party banks for funding or trading purposes. Discretionary assets are defined as client assets that UBS decides how to invest. Other invested assets are those where the client ultimately decides how the assets are invested. When a single product is created in one business division and sold in another, it is counted in both the business division that manages the inv estment and the one that distributes it. This results in double counting within UBS total invested assets, as both business divisions are independently providing a service to their respective clients, and both add value and generate revenue. Net new money Net new money in a reporting period is the amount of invested assets that are entrusted to UBS by new and existing clients, less those withdrawn by existing clients and clients who terminated their relationship with UBS. Net new money is calculated using the direct method, under which inflows and outflows to / from invested assets are determined at the client level based on transactions. Interest and dividend income from invested assets are not counted as net new money inflows. Market and currency movement s as well as fees, commissions and interest on loans charged are excluded from net new money, as are the effects resulting from any acquisition or divestment of a UBS subsidiary or business. Reclassifications between invested assets and custody-only assets as a result of a change in the service level delivered are generally treated as net new money flows; however, where such change in service level directly results from a new externally imposed regulation, the one-time net effect of the implementation is re ported as an asset reclassification without net new money impact. The Investment Bank does not track invested assets and net new money. However, when a client is transferred from the Investment Bank to another business division, this produces net new money even though client assets were already with UBS. There were no such transfers between the Investment Bank and other business divisions in 2017 and 2016. Invested assets and net new money For the year ended CHF billion 31.12.17 31.12.16 Fund assets managed by UBS 330 275 Discretionary assets 1,025 886 Other invested assets 1 1,824 1,649 Total invested assets 1,2 3,179 2,810 of which: double counts 204 176 Net new money 2 104 27 1 Certain account types were corrected during 2017. As a result, invested assets as of 31 December 2016 were corrected by CHF 12 billion. 2 Includes double counts. Development of invested assets For the year ended CHF billion 31.12.17 31.12.16 Total invested assets at the beginning of the year 1,2 2,810 2,678 Net new money 104 27 Market movements 3 313 98 Foreign currency translation (45) 21 Other effects (3) (14) of which: acquisitions / (divestments) 4 (14) Total invested assets at the end of the year 1,2 3,179 2,810 1 Includes double counts. 2 Certain account types were corrected during 2017. As a result, invested assets as of 31 December 2016 and 31 December 2015 were corrected by CHF 12 billion and CHF 11 billion, respectively. 3 Includes interest and dividend income. |
UBS AG | |
Disclosure Invested Assets And Net New Money [Line Items] | |
Disclosure Of InvestedAssets And Net New Money Explanatory | Note 33 Invested assets and net new money Invested assets Invested assets include all client assets managed by or deposited with UBS for investment purposes. Invested assets include managed fund assets, managed institutional assets, discretionary and advisory wealth management portfolios, fiduciary deposits, time deposits, savings accounts and wealth management securities or broker age accounts. All assets held for purely transactional purposes and custody-only assets, including corporate client assets held for cash management and transactional purposes, are excluded from invested assets as the Group only administers the assets and d oes not offer advice on how the assets should be invested. Also excluded are non-bankable assets (e.g., art collections) and deposits from third-party banks for funding or trading purposes. Discretionary assets are defined as client assets that UBS decides how to invest. Other invested assets are those where the client ultimately decides how the assets are invested. When a single product is created in one business division and sold in another, it is counted in both the business division that manages the inv estment and the one that distributes it. This results in double counting within UBS total invested assets, as both business divisions are independently providing a service to their respective clients, and both add value and generate revenue. Net new money Net new money in a reporting period is the amount of invested assets that are entrusted to UBS by new and existing clients, less those withdrawn by existing clients and clients who terminated their relationship with UBS. Net new money is calculated using the direct method, under which inflows and outflows to / from invested assets are determined at the client level based on transactions. Interest and dividend income from invested assets are not counted as net new money inflows. Market and currency movement s as well as fees, commissions and interest on loans charged are excluded from net new money, as are the effects resulting from any acquisition or divestment of a UBS subsidiary or business. Reclassifications between invested assets and custody-only assets as a result of a change in the service level delivered are generally treated as net new money flows; however, where such change in service level directly results from a new externally imposed regulation, the one-time net effect of the implementation is re ported as an asset reclassification without net new money impact. The Investment Bank does not track invested assets and net new money. However, when a client is transferred from the Investment Bank to another business division, this produces net new money even though client assets were already with UBS. There were no such transfers between the Investment Bank and other business divisions in 2017 and 2016. Invested assets and net new money For the year ended CHF billion 31.12.17 31.12.16 Fund assets managed by UBS 330 275 Discretionary assets 1,025 886 Other invested assets 1 1,824 1,649 Total invested assets 1,2 3,179 2,810 of which: double counts 204 176 Net new money 2 104 27 1 Certain account types were corrected during 2017. As a result, invested assets as of 31 December 2016 were corrected by CHF 12 billion. 2 Includes double counts. Development of invested assets For the year ended CHF billion 31.12.17 31.12.16 Total invested assets at the beginning of the year 1,2 2,810 2,678 Net new money 104 27 Market movements 3 313 98 Foreign currency translation (45) 21 Other effects (3) (14) of which: acquisitions / (divestments) 4 (14) Total invested assets at the end of the year 1,2 3,179 2,810 1 Includes double counts. 2 Certain account types were corrected during 2017. As a result, invested assets as of 31 December 2016 and 31 December 2015 were corrected by CHF 12 billion and CHF 11 billion, respectively. 3 Includes interest and dividend income. |
Currency translation rates
Currency translation rates | 12 Months Ended |
Dec. 31, 2017 | |
Currency Translation Rates [Line Items] | |
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory | Note 34 Currency translation rates The following table shows the rates of the main currencies used to translate the financial information of foreign operations into Swiss francs. Spot rate Average rate As of For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.15 1 USD 0.97 1.02 0.98 0.99 0.97 1 EUR 1.17 1.07 1.12 1.09 1.06 1 GBP 1.32 1.26 1.28 1.32 1.47 100 JPY 0.86 0.87 0.88 0.91 0.80 1 Monthly income statement items of foreign operations with a functional currency other than the Swiss franc are translated with month-end rates into Swiss francs. Disclosed average rates for a year represent an average of 12 month-end rates, weighted according to the income and expense volumes of all foreign operations of the Group with the same functional currency for each month. Weighted average rates for individual business divisions may deviate from the weighted average rates for the Group. |
UBS AG | |
Currency Translation Rates [Line Items] | |
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory | Note 34 Currency translation rates The following table shows the rates of the main currencies used to translate the financial information of foreign operations into Swiss francs. Spot rate Average rate 1 As of For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.15 1 USD 0.97 1.02 0.98 0.99 0.97 1 EUR 1.17 1.07 1.12 1.09 1.06 1 GBP 1.32 1.26 1.28 1.32 1.47 100 JPY 0.86 0.87 0.88 0.91 0.80 1 Monthly income statement items of foreign operations with a functional currency other than the Swiss franc are translated with month-end rates into Swiss francs. Disclosed average rates for a year represent an average of 12 month-end rates, weighted according to the income and expense volumes of all foreign operations with the same functional currency for each month. Weighted average rates for individual business divisions may deviate from the weighted average rates for UBS AG. |
Events after the reporting peri
Events after the reporting period | 12 Months Ended |
Dec. 31, 2017 | |
Events After The Reporting Period [Line Items] | |
Disclosure Of Events After Reporting Period Explanatory | Note 35 Events after the reporting period E vents subsequent to the publication of the unaudited fourth quarter 2017 report The 2017 results and the balance sheet as of 31 December 2017 differ from those presented in the unaudited four th quarter 2017 report published on 22 January 2018 as a result of events adjusted for after the balance sheet date . Provisions for litigation, regulatory and similar matters increased, which reduced 2017 operating profit before tax by CHF 141 million, 2017 net profit attributable to shareholders by CHF 112 million, and both basic and diluted earnings per share by CHF 0.03. Integration of Wealth Management and Wealth M anagement Americas into a single business division Effective 1 February 2018, UBS is integrating its Wealth Management and Wealth Management Americas business divisions into a single Global Wealth Management business division. The firm will report the resu lts for Global Wealth Management beginning with the first quarter of 2018. Refer to Note 1c for more information on the change in segment reporting Changes to the Pension Fund of UBS in Switzerland As a result of the effects of continuing low and in some cases negative interest rates, diminished investment return expectations and increasing life expectancy, the Pension Fund of UBS in Sw itzerland and UBS have agreed measures that will take effect from the start of 2019 to support the long-term financial sta bility of the Swiss pension fund. As a result, the conversion rate will be lowered, the regular retirement age and employee contributions will be increased, and savings contributions will start earlier. These measures will have no effect on current pension ers of UBS . To mitigate the effects of the reduction of the conversion rate on future pensions, UBS will make a payment to employees’ retirement assets in the Swiss pension fund of up to CHF 720 million in three installments in 2020, 2021 and 2022. In accordance with International Financial Reporting Standards (IFRS), these measures, including the portion of the payment to be made by UBS that is attributable to past service, will lead to a reduction in the pension obligation recognized by UBS, resulting in a pre-tax gain of CHF 225 million in the first quarter of 2018 with no overall effect on total equity and a reduced pension service cost starting from January 2018. The gain will be recognized as a reduction in personnel expense within the income state ment across the business divisions and Corporate Center, with a corresponding effect in Other comprehensive income , as the Swiss pension plan is currently in a surplus situation that cannot be recognized due to the IFRS asset ceiling requirement. If the Sw iss pension plan remains in an asset ceiling position, the annual payments adjusted for expected forfeitures are expected to reduce total equity by approximately CHF 200 million per year over the installment period, with no effect on the income statement. Refer to Note 26 for more information on the Swiss pension plan and the asset ceiling effect |
UBS AG | |
Events After The Reporting Period [Line Items] | |
Disclosure Of Events After Reporting Period Explanatory | Note 35 Events after the reporting period E vents subsequent to the publication of the unaudited fourth quarter 2017 report The 2017 results and the balance sheet as of 31 December 2017 differ from those presented in the unaudited fourth quarter 2017 report published on 22 Janua ry 2018 as a result of events adjusted for after the balance sheet date . Provisions for litigation, regu latory and similar matters increased, which reduced 2017 operating profit before tax by CHF 141 million and 2017 net profit attributable to shareholders by CHF 112 million . Integration of Wealth Management and Wealth Management Americas into a single busin ess division Effective 1 February 2018, UBS is integrating its Wealth Management and Wealth Management Americas business divisions into a single Global Wealth Management business division. The firm will report the results for Global Wealth Management begin ning with the first quarter of 2018. Refer to Note 1c for more information on the change in segment reporting Changes to the Pension F und of UBS in Switzerland As a result of the effects of continuing low and in some cases negative interest rates, diminis hed investment return expectations and increasing life expectancy, the Pension Fund of UBS in Switzerland and UBS have agreed measures that will take effect from the start of 2019 to support the long-term financial stability of the Swiss pension fund. As a result, the conversion rate will be lowered, the regular retirement age and employee contributions will be increased, and savings contributions will start earlier. These measures will have no effect on current pensioners of UBS. To mitigate the effects of the reduction of the conversion rate on future pensions, UBS AG will make a payment to employees’ retirement assets in the Swiss pension fund of up to CHF 450 million in three installments in 2020, 2021 and 2022. In accordance w ith International Financial Reporting Standards (IFRS), these measures, including the portion of the payment to be made by UBS that is attributable to past service, will lead to a reduction in the pension obligation recognized by UBS AG, resulting in a pre -tax gain of CHF 123 million in the first quarter of 2018 with no overall effect on total equity and a reduced pension service cost starting from January 2018. The gain will be recognized as a reduction in personnel expense within the income statement acro ss the business divisions and Corporate Center, with a corresponding effect in Other comprehensive income , as the Swiss pension plan is currently in a surplus situation that cannot be recognized due to the IFRS asset ceiling requirement. If the Swiss pension plan remains in an asset ceiling position, the annual payments adjusted for expected forfeitures are expected to reduce total equity by approximately CHF 130 million per year over the installment period, with no effect on the income statement. Refer to Note 26 for more information on the Swiss pension plan and the asset ceiling effect |
Main differences between IFRS a
Main differences between IFRS and Swiss GAAP | 12 Months Ended |
Dec. 31, 2017 | |
Main Differences Between IFRS And Swiss GAAP [Line Items] | |
Disclosure of main differences between IFRS and Swiss GAAP [text block] | Note 36 Main differences between IFRS and Swiss GAAP The consolidated financial statements of UBS Group AG are prepared in accordance with International Financial Reporting Standards (IFRS). The Swiss Financial Market Supervisory Authority (FINMA) requires financial groups that present their financial statements under IFRS to provide a narrative explanation of the main differences between IFR S and Swiss GAAP (FINMA Circular 2015 / 1 and the Banking Ordinance). Included in this Note are the significant differences in the recognition and measurement between IFRS and the provisions of the Banking Ordinance and the guidelines of FINMA governing tr ue and fair view financial s tatement reporting pursuant to article 25 through a rticle 42 of the Banking Ordinance. 1. Consolidation Under IFRS, all entities that are controlled by the holding entity are consolidated. Under Swiss GAAP, controlled entities t hat are deemed immaterial to the Group or that are held temporarily only are exempt from consolidation, but instead are recorded as participations accounted for under the equity method of accounting or as financial investments measured at the lower of cost or market value. 2. Financial assets available for sale Under IFRS, financial assets available for sale are carried at fair value. Changes in fair value are recorded directly in equity until an asset is sold, collected or otherwise disposed of, or until a n asset is determined to be impaired. At the time an available-for-sale asset is determined to be impaired, the cumulative unrealized loss previously recognized in equity is included in net profit or loss for the respective period. On disposal of a financi al asset available for sale, the cumulative unrealized gain or loss previously recognized in equity is reclassified to the income statement. Under Swiss GAAP, classification and measurement of financial assets designated as available for sale depend on th e nature of the asset. Equity instruments with no permanent holding intent, as well as debt instruments, are classified as Financial investments and measured at the lower of (amortized) cost or market value. Market value adjustments up to the original cost amount and realized gains or losses upon disposal of the investment are recorded in the income statement as Other income from ordinary activities. Equity instruments with a permanent holding intent are classified as participations in Non-consolidated inve stments in subsidiaries and other participations and measured at cost less impairment. Impairment losses are recorded in the income statement as Impairment of investments in non-consolidated subsidiaries and other participations. Reversal s of impairments u p to the original cost amount as well as realized gains or losses upon disposal of the investment are recorded as Extraordinary income / Extraordinary expenses in the income statement. 3. Hedge accounting Under IFRS, when cash flow hedge accounting is appl ied, the fair value gain or loss on the effective portion of the derivative designated as a cash flow hedge is recognized in equity. When fair value hedge accounting is applied, the fair value gains or losses of the derivative and the hedged item are recog nized in the income statement. Under Swiss GAAP, the effective portion of the fair value change of the derivative instrument designated as a cash flow or as fair value hedge is deferred on the balance sheet as Other assets or Other liabilities . The carrying value of the hedged item designated in fair value hedges is not adjusted for fair value changes attributable to the hedged risk. 4. Fair value option Under IFRS, UBS applies the fair value option to certain financial assets and financial liabiliti es not held for trading. Instruments for which the fair value option is applied are accounted for at fair value with changes in fair value reflected in Net trading income . The fair value option is applied primarily to structured debt instruments, certain n on-structured debt instruments, high-quality liquid debt securities, structured reverse repurchase and repurchase agreements and securities borrowing agreements, certain structured and non-structured loans as well as loan commitments. Under Swiss GAAP, the fair value option can only be applied to structured debt instruments that consist of a debt host contract and one or more embedded derivatives that do not relate to own equity. Furthermore, changes in fair value attributable to changes in unrealized own c redit are not recognized. 5. Goodwill and intangible assets Under IFRS, goodwill acquired in a business combination is not amortized but tested annually for impairment. Intangible assets with an indefinite useful life are also not amortized but tested annually for impairment. Under Swiss GAAP, goodwill and intangible assets with indefinite useful lives are amortized over a period not excee ding five years, unless a longer useful life, which may not exceed 10 years, can be justified. 6. Pension and other post-employment benefit plans Swiss GAAP permits the use of IFRS or Swiss accounting standards for pension and other post-employment benefit plans, with the election made on a plan-by-plan basis. UBS has elected to apply IFRS (IAS 19) for the non-Swiss defined benefit plans in UBS AG standalone financial statements and Swiss GAAP (FER 16) for the Swiss pension plan in the UBS AG and the UBS Sw itzerland AG standalone financial statements. The requirements of Swiss GAAP are better aligned with the specific nature of Swiss pension plans, which are hybrid in that they combine elements of defined contribution and defined benefit plans, but are treat ed as defined benefit plans under IFRS. Key differences between Swiss GAAP and IFRS include the treatment of dynamic elements, such as future salary increases and future interest credits on retirement savings, which are not considered under the static meth od used in accordance with Swiss GAAP. Also, the discount rate used to determine the defined benefit obligation in accordance with IFRS is based on the yield of high-quality corporate bonds of the market in the respective pension plan country. The discount rate used in accordance with Swiss GAAP, i.e., the technical interest rate, is determined by the Pension Foundation Board based on the expected returns of the Board’s investment strategy. For defined benefit plans, IFRS requires the full defined benefit o bligation net of the plan assets to be recorded on the balance sheet, with changes resulting from remeasurements recognized directly in equity. However, for non-Swiss defined benefit plans for which IFRS accounting is elected, changes due to remeasurements are recognized in the income statement of UBS AG standalone under Swiss GAAP. Swiss GAAP requires that employer contributions to the pension fund are recognized as personnel expenses in the income statement. Further, Swiss GAAP requires an assessment as t o whether, based on the financial statements of the pension fund prepared in accordance with Swiss accounting standards (FER 26), an economic benefit to, or obligation of, the employer arises from the pension fund and is recognized in the balance sheet whe n conditions are met. Conditions for recording a pension asset or liability would be met if, for example, an employer contribution reserve is available or the employer is required to contribute to the reduction of a pension deficit ( on an FER 26 basis). 7. Netting of replacement values Under IFRS, replacement values and related cash collateral are reported on a gross basis unless the restrictive IFRS netting requirements are met: i ) existence of master netting agreements and related collateral arrangements that are unconditional and legally enforceable, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS and its counterparties, and ii) UBS’s intention to either settle on a net basis or to realize the asset and s ettle the liability simultaneously. Under Swiss GAAP, replacement values and related cash collateral are generally reported on a net basis, provided the master netting and the related collateral agreements are legally enforceable in the event of default, b ankruptcy or insolvency of UBS’s counterparties. 8. Negative interest Under IFRS , negative interest income arising on a financial asset does not meet the definition of interest income and , therefore, negative interest on financial assets and negative interest on financial liabilities are presented within interest expense and interest income, respectively. Under Swiss GAAP, negative interest on financial assets is presented within interest i ncome and negative interest on financial liabilities is presented within interest expense. 9. Extraordinary income and expense Certain non-recurring and non-operating income and expense items, such as realized gains or losses from the disposal of participa tions, fixed and intangible assets, as well as reversals of impairments of participations and fixed assets, are classified as extraordinary items under Swiss GAAP. This distinction is not available under IFRS. |
UBS AG | |
Main Differences Between IFRS And Swiss GAAP [Line Items] | |
Disclosure of main differences between IFRS and Swiss GAAP [text block] | Note 36 Main differences between IFRS and Swiss GAAP The consolidated financial statements of UBS AG are prepared in accordance with International Financial Reporting Standards (IFRS). The Swiss Financial Market Supervisory Authority (FINMA) requires financial groups that present their financial statements under IFRS to provide a narrative explanation of the main differences between IF RS and Swiss GAAP (FINMA Circular 2015 / 1 and the Banking Ordinance). Included in this Note are the significant differences in the recognition and measurement between IFRS and the provisions of the Banking Ordinance and the guidelines of FINMA governing t rue and fair view financial statement reporting pursuant to article 25 through a rticle 42 of the Banking Ordinance. 1. Consolidation Under IFRS, all entities that are controlled by the holding entity are consolidated. Under Swiss GAAP, controlled entities that are deemed immaterial to UBS AG or that are held temporarily only are exempt from consolidation, but instead are recorded as participations accounted for under the equity method of accounting or as financial investments measured at the lower of cost o r market value. 2. Financial assets available for sale Under IFRS, financial assets available for sale are carried at fair value. Changes in fair value are recorded directly in equity until an asset is sold, collected or otherwise disposed of, or until an asset is determined to be impaired. At the time an available-for-sale asset is determined to be impaired, the cumulative unrealized loss previously recognized in equity is included in net profit or loss for the respective period. On disposal of a financial asset available for sale, the cumulative unrealized gain or loss previously recognized in equity is reclassified to the income statement. Under Swiss GAAP, classification and measurement of financial assets designated as available for sale depend on the nature of the asset. Equity instruments with no permanent holding intent, as well as debt instruments, are classified as Financial investments and measured at the lower of (amortized) cost or market value. Market value adjustments up to the original cost a mount and realized gains or losses upon disposal of the investment are recorded in the income statement as Other income from ordinary activities. Equity instruments with a permanent holding intent are classified as participations in Non-consolidated invest ments in subsidiaries and other participations and measured at cost less impairment. Impairment losses are recorded in the income statement as Impairment of investments in non-consolidated subsidiaries and other participations. Reversals of impairments up t o the original cost amount as well as realized gains or losses upon disposal of the investment are recorded as Extraordinary income / Extraordinary expenses in the income statement. 3. Hedge accounting Under IFRS, when cash flow hedge accounting is applied , the fair value gain or loss on the effective portion of the derivative designated as a cash flow hedge is recognized in equity. When fair value hedge accounting is applied, the fair value gains or losses of the derivative and the hedged item are recogniz ed in the income statement. Under Swiss GAAP, the effective portion of the fair value change of the derivative instrument designated as a cash flow or as fair value hedge is deferred on the balance sheet as Other assets or Other liabilities . The carrying value of the hedged item designated in fair value hedges is not adjusted for fair value changes attributable to the hedged risk. 4. Fair value option Under IFRS, UBS AG applies the fair value option to certain financial assets and financial liabilities not held for trading. Instruments for which the fair value option is applied are accounted for at fair value with changes in fair value reflected in Net trading income . The fair value option is applied primarily to structured debt instruments, certain non-str uctured debt instruments, high-quality liquid debt securities, structured reverse repurchase and repurchase agreements and securities borrowing agreements, certain structured and non-structured loans as well as loan commitments. Under Swiss GAAP, the fair value option can only be applied to structured debt instruments that consist of a debt host contract and one or more embedded derivatives that do not relate to own equity. Furthermore, changes in fair value attributable to changes in unrealized own credit are not recognized. 5. Goodwill and intangible assets Under IFRS, goodwill acquired in a business combination is not amortized but tested annually for impairment. Intangible assets with an indefinite useful life are also not amortized but tested annually for impairment. Under Swiss GAAP, goodwill and intangible assets with indefinite useful lives are amortized over a period not exceeding fi ve years, unless a longer useful life, which may not exceed 10 years, can be justified. 6. Pension and other post-employment benefit plans Swiss GAAP permits the use of IFRS or Swiss accounting standards for pension and other post-employment benefit plans, with the election made on a plan-by-plan basis. UBS AG has elected to apply IFRS (IAS 19) for the non-Swiss defined benefit plans and Swiss GAAP (FER 16) for the Swiss pension plan in its standalone financial statements. The requirements of Swiss GAAP are better aligned with the specific nature of Swiss pension plans, which are hybrid in that they combine elements of defined contribution and defined benefit plans, but are treated as defined benefit plans under IFRS. Key differences between Swiss GAAP and I FRS include the treatment of dynamic elements, such as future salary increases and future interest credits on retirement savings, which are not considered under the static method used in accordance with Swiss GAAP. Also, the discount rate used to determine the defined benefit obligation in accordance with IFRS is based on the yield of high-quality corporate bonds of the market in the respective pension plan country. The discount rate used in accordance with Swiss GAAP, i.e., the technical interest rate, is determined by the Pension Foundation Board based on the expected returns of the Board’s investment strategy. For defined benefit plans, IFRS requires the full defined benefit obligation net of the plan assets to be recorded on the balance sheet, with chang es resulting from remeasurements recognized directly in equity. However, for non-Swiss defined benefit plans for which IFRS accounting is elected, changes due to remeasurements are recognized in the income statement of UBS AG standalone under Swiss GAAP. S wiss GAAP requires that employer contributions to the pension fund are recognized as personnel expenses in the income statement. Further, Swiss GAAP requires an assessment as to whether, based on the financial statements of the pension fund prepared in acc ordance with Swiss accounting standards (FER 26), an economic benefit to, or obligation of, the employer arises from the pension fund and is recognized in the balance sheet when conditions are met. Conditions for recording a pension asset or liability woul d be met if, for example, an employer contribution reserve is available or the employer is required to contribute to the reduction of a pension deficit ( on an FER 26 basis). 7. Netting of replacement values Under IFRS, replacement values and related cash c ollateral are reported on a gross basis unless the restrictive IFRS netting requirements are met: i) existence of master netting agreements and related collateral arrangements that are unconditional and legally enforceable, both in the normal course of bus iness and in the event of default, bankruptcy or insolvency of UBS AG and its counterparties, and ii) UBS AG’s intention to either settle on a net basis or to realize the asset and settle the liability simultaneously. Under Swiss GAAP, replacement values a nd related cash collateral are generally reported on a net basis, provided the master netting and the related collateral agreements are legally enforceable in the event of default, bankruptcy or insolvency of UBS AG ’s counterparties. 8. Negative interest U nder IFRS , negative interest income arising on a financial asset does not meet the definition of interest income and , therefore, negative interest on financial assets and negative interest on financial liabilities are presented within interest expense and interest income, respectively. Under Swiss GAAP, negative interest on financial assets is presented within interest income and negative interest on financial liabilities is presented within interest expense. 9. Extraordinary income and expense Certain non -recurring and non-operating income and expense items, such as realized gains or losses from the disposal of participations, fixed and intangible assets, as well as reversals of impairments of participations and fixed assets, are classified as extraordinar y items under Swiss GAAP. This distinction is not available under IFRS. |
Supplemental guarantor informat
Supplemental guarantor information required under SEC regulations | 12 Months Ended |
Dec. 31, 2017 | |
UBS AG | |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | |
Condensed Financial Information Of Parent Company Only Disclosure [Text Block] | Note 37 Supplemental guarantor information required under SEC regulations Guarantee of PaineWebber securities Prior to its acquisition by UBS in 2000, Paine Webber Group Inc. (PaineWebber) was an SEC registrant. Upon acquisition, PaineWebber was merged into UBS Americas Inc., a wholly owned subsidiary of UBS AG. Following the acquisition, UBS AG entered into a full and unconditional guarantee of the senior no tes (Debt Securities) issued by PaineWebber. Under the guarantee, if UBS Americas Inc. fails to make any timely payment under the Debt Securities agreements, the holders of the Debt Securities or the Debt Securities trustee may demand payment from UBS AG w ithout first proceeding against UBS Americas Inc. As of 31 December 2017, CHF 1 million of these Debt Securities were outstanding. These remaining notes mature in 2018. Guarantee of other securities As of 31 December 2017 and 31 December 2016, UBS Preferr ed Funding Trust IV and UBS Preferred Funding Trust V had no balances outstanding . These entities are prese nted in a separate column in supplemental guarantor information provided for prior periods in the following tables. Amounts presented in this column are eliminated in the Elimination entries column, as these entities were not consolidated by UBS A G because UBS AG did not absorb any variability from the performance of these entities. Joint liability of UBS Switzerland AG In 2015, the Personal & Corporate Banking and Wealth Management businesses booked in Switzerland were transferred from UBS AG to UBS Switzerland AG through an asset transfer in accordance with the Swiss Merger Act. Under the terms of the asset transfer agreement, UBS Switzerland AG assumed joint liability for contractual obligations of UBS AG existing on the asset transfer date, including the existing guarantee of aforementioned PaineWebber and other securities. To reflect this joint liability, UBS Switzerland AG is presented in a separate column as a subsidiary co-guarantor. Supplemental guarantor consolidated income statement CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2017 Operating income Interest income 8,632 3,917 2,732 1,742 (2,815) 14,208 Interest expense (7,114) (596) (1,307) (1,434) 2,724 (7,728) Net interest income 1,518 3,321 1,425 308 (91) 6,480 Credit loss (expense) / recovery (135) (22) (4) (5) 39 (128) Net interest income after credit loss expense 1,382 3,299 1,421 303 (53) 6,352 Net fee and commission income 1,564 3,966 8,281 3,449 (47) 17,214 Net trading income 3,325 901 457 220 71 4,974 Other income 4,303 167 419 3,439 (7,388) 939 Total operating income 10,574 8,334 10,577 7,411 (7,417) 29,479 Operating expenses Personnel expenses 4,409 2,020 6,312 1,932 0 14,673 General and administrative expenses 4,830 3,334 3,014 3,087 (5,455) 8,811 Depreciation and impairment of property, equipment and software 652 11 156 108 0 928 Amortization and impairment of intangible assets 8 0 51 11 0 70 Total operating expenses 9,899 5,366 9,532 5,138 (5,455) 24,481 Operating profit / (loss) before tax 675 2,968 1,045 2,273 (1,962) 4,998 Tax expense / (benefit) 448 616 2,800 213 (1) 4,077 Net profit / (loss) 227 2,351 (1,755) 2,059 (1,962) 921 Net profit / (loss) attributable to preferred noteholders 72 0 0 0 0 72 Net profit / (loss) attributable to non-controlling interests 0 0 0 4 0 4 Net profit / (loss) attributable to shareholders 155 2,351 (1,755) 2,056 (1,962) 845 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated statement of comprehensive income CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2017 Comprehensive income attributable to shareholders Net profit / (loss) 155 2,351 (1,755) 2,056 (1,962) 845 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (170) 0 (751) 426 (40) (535) Financial assets available for sale, net of tax (6) 2 43 (31) (93) (86) Cash flow hedges, net of tax (465) (157) 0 (1) 1 (621) Total other comprehensive income that may be reclassified to the income statement, net of tax (641) (156) (709) 394 (132) (1,242) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax 275 (22) 41 (14) 25 305 Own credit on financial liabilities designated at fair value, net of tax (313) 0 0 0 0 (313) Total other comprehensive income that will not be reclassified to the income statement, net of tax (38) (22) 41 (14) 25 (8) Total other comprehensive income (679) (177) (668) 380 (107) (1,250) Total comprehensive income attributable to shareholders (524) 2,174 (2,423) 2,436 (2,069) (404) Total comprehensive income attributable to preferred noteholders 423 423 Total comprehensive income attributable to non-controlling interests 5 5 Total comprehensive income (101) 2,174 (2,423) 2,441 (2,069) 23 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated balance sheet CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 Other subsidiaries 2 Elimination entries UBS AG (consolidated) As of 31 December 2017 Assets Cash and balances with central banks 36,552 38,467 3,100 9,656 0 87,775 Due from banks 30,467 3,977 4,712 66,649 (92,112) 13,693 Cash collateral on securities borrowed 9,907 20,972 10,775 6,188 (35,448) 12,393 Reverse repurchase agreements 51,293 13,858 20,676 19,368 (27,955) 77,240 Trading portfolio assets 104,118 1,719 6,720 25,974 (7,723) 130,807 of which: assets pledged as collateral that may be sold or repledged by counterparties 58,524 0 2,303 7,411 (32,877) 35,363 Positive replacement values 114,044 4,123 12,948 21,118 (34,004) 118,229 Cash collateral receivables on derivative instruments 22,346 696 2,129 10,828 (12,565) 23,434 Loans 106,469 184,331 51,743 24,078 (44,903) 321,718 Financial assets designated at fair value 34,097 12,768 3,351 10,820 (2,481) 58,556 Financial assets available for sale 3,607 790 6,495 918 (3,145) 8,665 Financial assets held to maturity 950 8,215 0 0 0 9,166 Investments in subsidiaries and associates 49,632 15 1 27 (48,657) 1,018 Property, equipment and software 6,384 92 979 529 0 7,985 Goodwill and intangible assets 294 0 4,880 1,281 (58) 6,398 Deferred tax assets 1,252 421 5,999 2,110 0 9,783 Other assets 18,157 1,179 11,101 2,456 (3,389) 29,505 Total assets 589,570 291,624 145,611 202,001 (312,442) 916,363 Liabilities Due to banks 24,361 20,728 3,160 51,915 (92,631) 7,533 Cash collateral on securities lent 29,898 1,323 2,243 3,774 (35,448) 1,789 Repurchase agreements 18,264 321 12,681 11,945 (27,955) 15,255 Trading portfolio liabilities 24,358 250 3,877 9,122 (7,145) 30,463 Negative replacement values 111,448 3,675 12,932 22,082 (34,004) 116,134 Cash collateral payables on derivative instruments 27,768 60 2,215 12,768 (12,565) 30,247 Due to customers 118,684 241,313 79,684 54,438 (46,977) 447,141 Financial liabilities designated at fair value 53,532 0 104 3,329 (2,762) 54,202 Debt issued 96,572 8,367 8 514 (711) 104,749 Provisions 1,057 145 1,682 200 0 3,084 Other liabilities 30,430 2,246 10,117 15,625 (3,428) 54,990 Total liabilities 536,372 278,430 128,702 185,711 (263,626) 865,588 Equity attributable to shareholders 53,198 13,194 16,909 16,233 (48,816) 50,718 Equity attributable to non-controlling interests 57 57 Total equity 53,198 13,194 16,909 16,290 (48,816) 50,775 Total liabilities and equity 589,570 291,624 145,610 202,001 (312,442) 916,363 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated statement of cash flows CHF million UBS AG 1 UBS Switzerland AG 1 UBS Americas Inc. 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2017 Net cash flow from / (used in) operating activities (34,372) (8,192) (4,859) (4,448) (51,872) Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets (1) (2) (17) (82) (102) Disposal of subsidiaries, associates and intangible assets 2 289 0 0 46 336 Purchase of property, equipment and software (1,032) (83) (291) (94) (1,500) Disposal of property, equipment and software 1 0 53 160 213 Purchase of financial assets available for sale (231) 0 (2,855) (5,362) (8,448) Disposal and redemption of financial assets available for sale 3,385 1,282 2,777 7,473 14,917 Net (purchase) / redemption of financial assets held to maturity (448) 370 0 0 (77) Net cash flow from / (used in) investing activities 1,964 1,567 (333) 2,140 5,338 Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) 24,195 (5) 0 (49) 24,141 Distributions paid on UBS AG shares (2,250) 0 0 0 (2,250) Issuance of long-term debt, including financial liabilities designated at fair value 48,484 622 103 297 49,506 Repayment of long-term debt, including financial liabilities designated at fair value (41,722) (580) (129) (867) (43,299) Dividends paid and repayments of preferred notes (776) 0 0 0 (776) Net changes in non-controlling interests 0 0 0 (5) (5) Net activity related to group internal capital transactions and dividends 1,242 (191) 883 (1,934) 0 Net cash flow from / (used in) financing activities 29,173 (154) 857 (2,558) 27,317 Total cash flow Cash and cash equivalents at the beginning of the year 44,269 46,629 11,892 18,317 121,107 Net cash flow from / (used in) operating, investing and financing activities (3,236) (6,780) (4,335) (4,866) (19,216) Effects of exchange rate differences on cash and cash equivalents (511) 79 (400) 1,096 264 Cash and cash equivalents at the end of the year 3 40,522 39,928 7,157 14,547 102,154 of which: cash and balances with central banks 36,477 38,467 3,100 9,656 87,700 of which: due from banks 2,285 1,455 3,945 4,721 12,406 of which: money market paper 4 1,760 7 112 169 2,049 1 Cash flows generally represent a third-party view from a UBS AG consolidated perspective. 2 Includes dividends received from associates. 3 CHF 2,434 million of cash and cash equivalents were restricted. 4 Money market paper is included in the balance sheet under Trading portfolio assets, Financial investments available for sale and Financial assets designated at fair value. Supplemental guarantor consolidated income statement CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 UBS Preferred Funding Trust IV & V Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2016 Operating income Interest income 8,500 4,151 2,227 25 1,148 (2,269) 13,782 Interest expense (6,686) (714) (1,135) (919) 2,054 (7,399) Net interest income 1,815 3,438 1,092 25 229 (215) 6,383 Credit loss (expense) / recovery (24) (3) (6) (3) (37) Net interest income after credit loss expense 1,790 3,434 1,086 25 226 (215) 6,346 Net fee and commission income 1,500 3,782 7,873 3,332 (40) 16,447 Net trading income 3,717 780 454 310 (318) 4,943 Other income 8,113 346 576 1,677 (10,027) 685 Total operating income 15,120 8,343 9,988 25 5,545 (10,600) 28,421 Operating expenses Personnel expenses 5,691 2,044 6,243 1,613 0 15,591 General and administrative expenses 5,213 3,507 3,402 2,458 (6,891) 7,690 Depreciation and impairment of property, equipment and software 699 12 184 85 0 980 Amortization and impairment of intangible assets 22 0 60 9 0 91 Total operating expenses 11,625 5,563 9,889 4,165 (6,891) 24,352 Operating profit / (loss) before tax 3,495 2,780 99 25 1,380 (3,710) 4,069 Tax expense / (benefit) 892 589 (1,175) 482 (7) 781 Net profit / (loss) 2,603 2,191 1,274 25 898 (3,703) 3,288 Net profit / (loss) attributable to preferred noteholders 78 0 0 31 0 (31) 78 Net profit / (loss) attributable to non-controlling interests 0 0 0 4 0 4 Net profit / (loss) attributable to shareholders 2,525 2,191 1,274 (6) 894 (3,672) 3,207 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated statement of comprehensive income CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 UBS Preferred Funding Trust IV & V Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2016 Comprehensive income attributable to shareholders Net profit / (loss) 2,525 2,191 1,274 (6) 894 (3,672) 3,207 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax 335 0 285 (707) 379 293 Financial assets available for sale, net of tax (22) (33) (8) (18) 6 (73) Cash flow hedges, net of tax (805) 109 0 0 29 (666) Total other comprehensive income that may be reclassified to the income statement, net of tax (491) 77 277 0 (725) 415 (447) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax (651) (54) (59) (36) (25) (824) Own credit on financial liabilities designated at fair value, net of tax (115) (115) Total other comprehensive income that will not be reclassified to the income statement, net of tax (766) (54) (59) 0 (36) (25) (939) Total other comprehensive income (1,257) 23 218 0 (761) 390 (1,386) Total comprehensive income attributable to shareholders 1,268 2,214 1,492 (6) 133 (3,282) 1,820 Total comprehensive income attributable to preferred noteholders 349 349 Total comprehensive income attributable to non-controlling interests 0 3 3 Total comprehensive income attributable to UBS Preferred Funding Trust IV & V 0 Total comprehensive income 1,617 2,214 1,492 (6) 137 (3,282) 2,173 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated balance sheet CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 Other subsidiaries 2 Elimination entries UBS AG (consolidated) As of 31 December 2016 Assets Cash and balances with central banks 40,538 44,528 8,925 13,775 0 107,767 Due from banks 30,008 3,886 3,759 33,420 (57,948) 13,125 Cash collateral on securities borrowed 6,561 6,657 13,173 5,004 (16,284) 15,111 Reverse repurchase agreements 52,782 19,273 14,406 7,507 (27,722) 66,246 Trading portfolio assets 74,172 1,673 4,702 22,729 (6,615) 96,661 of which: assets pledged as collateral that may be sold or repledged by counterparties 39,596 0 1,960 5,850 (17,145) 30,260 Positive replacement values 156,375 5,458 9,496 27,231 (40,149) 158,411 Cash collateral receivables on derivative instruments 22,117 913 2,701 12,068 (11,135) 26,664 Loans 94,506 184,241 50,150 41,199 (63,091) 307,004 Financial assets designated at fair value 35,498 16,416 5,371 11,589 (3,849) 65,024 Financial assets available for sale 8,104 2,046 6,593 3,469 (4,536) 15,676 Financial assets held to maturity 527 8,762 0 0 0 9,289 Investments in subsidiaries and associates 49,904 22 1 27 (48,991) 963 Property, equipment and software 6,961 19 1,075 241 0 8,297 Goodwill and intangible assets 297 0 5,130 1,161 (32) 6,556 Deferred tax assets 1,801 601 9,148 1,595 0 13,144 Other assets 10,645 1,526 9,071 7,241 (3,071) 25,412 Total assets 590,796 296,022 143,702 188,257 (283,424) 935,353 Liabilities Due to banks 27,992 13,204 5,288 32,733 (68,572) 10,645 Cash collateral on securities lent 13,193 1,518 2,549 1,841 (16,284) 2,818 Repurchase agreements 16,944 5,385 2,710 9,295 (27,722) 6,612 Trading portfolio liabilities 15,535 154 3,643 9,780 (6,287) 22,825 Negative replacement values 151,274 4,982 9,491 28,213 (40,149) 153,810 Cash collateral payables on derivative instruments 31,585 109 2,409 12,504 (11,135) 35,472 Due to customers 118,934 248,731 85,702 53,474 (56,641) 450,199 Financial liabilities designated at fair value 54,504 0 1 4,559 (4,047) 55,017 Debt issued 70,558 8,330 145 401 (437) 78,998 Provisions 1,483 186 2,168 312 21 4,169 Other liabilities 31,879 2,212 11,100 18,352 (3,099) 60,443 Total liabilities 533,881 284,811 125,206 171,464 (234,353) 881,009 Equity attributable to shareholders 56,273 11,211 18,496 16,754 (49,072) 53,662 Equity attributable to preferred noteholders 642 0 0 0 0 642 Equity attributable to non-controlling interests 0 0 0 40 0 40 Total equity 56,915 11,211 18,496 16,793 (49,072) 54,343 Total liabilities and equity 590,796 296,022 143,702 188,257 (283,424) 935,353 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated statement of cash flows CHF million UBS AG 1 UBS Switzerland AG 1 UBS Americas Inc. 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2016 Net cash flow from / (used in) operating activities (26,981) (3,914) 8,979 4,503 (17,413) Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets 0 (3) 0 (23) (26) Disposal of subsidiaries, associates and intangible assets 2 93 0 0 0 93 Purchase of property, equipment and software (1,332) (16) (288) (111) (1,746) Disposal of property, equipment and software 175 0 1 32 209 Purchase of financial assets available for sale (694) (998) (2,792) (2,788) (7,271) Disposal and redemption of financial assets available for sale 24,902 21,729 1,694 5,772 54,097 Net (purchase) / redemption of financial assets held to maturity (527) (8,468) 0 0 (8,996) Net cash flow from / (used in) investing activities 22,616 12,245 (1,384) 2,882 36,359 Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) 8,229 (7) (2,975) 193 5,440 Distributions paid on UBS AG shares (3,434) 0 0 0 (3,434) Issuance of long-term debt, including financial liabilities designated at fair value 31,484 733 196 1,039 33,453 Repayment of long-term debt, including financial liabilities designated at fair value (32,279) (669) (8) (1,126) (34,081) Dividends paid and repayments of preferred notes (1,366) 0 0 0 (1,366) Net changes in non-controlling interests 0 0 0 (5) (5) Net activity related to group internal capital transactions and dividends (1,333) (2,000) 0 3,333 0 Net cash flow from / (used in) financing activities 1,300 (1,943) (2,786) 3,435 6 Total cash flow Cash and cash equivalents at the beginning of the year 47,902 40,246 7,084 7,731 102,962 Net cash flow from / (used in) operating, investing and financing activities (3,065) 6,388 4,808 10,821 18,952 Effects of exchange rate differences on cash and cash equivalents (569) (4) 0 (234) (807) Cash and cash equivalents at the end of the year 3 44,269 46,629 11,892 18,317 121,107 of which: cash and balances with central banks 40,486 44,528 8,925 13,775 107,715 of which: due from banks 2,836 2,095 2,931 4,065 11,927 of which: money market paper 4 946 7 36 477 1,465 1 Cash flows generally represent a third-party view from a UBS AG (consolidated) perspective. As a consequence, the non-consolidated UBS Preferred Funding Trusts IV and V are not presented in this table. For the year ended 31 December 2016, these trusts had cash inflows of CHF 1,317 million from operating activities and an equivalent cash outflow for dividends paid to preferred note holders. 2 Includes dividends received from associates. 3 CHF 2,662 million of cash and cash equivalents were restricted. 4 Money market paper is included in the balance sheet under Trading portfolio assets, Financial investments available for sale and Financial assets designated at fair value. Supplemental guarantor consolidated income statement CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 UBS Preferred Funding Trust IV & V Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2015 Operating income Interest income 9,102 3,039 1,367 63 1,626 (2,020) 13,178 Interest expense (5,885) (545) (501) (1,410) 1,892 (6,449) Net interest income 3,218 2,494 866 63 217 (128) 6,729 Credit loss (expense) / recovery (109) (12) 0 4 0 (117) Net interest income after credit loss expense 3,109 2,482 866 63 220 (128) 6,612 Net fee and commission income 2,738 3,001 7,940 3,586 (81) 17,184 Net trading income 5,031 735 355 331 (756) 5,696 Other income 15,371 120 774 89 (15,243) 1,112 Total operating income 26,249 6,338 9,935 63 4,227 (16,208) 30,605 Operating expenses Personnel expenses 6,800 1,607 6,281 1,265 0 15,954 General and administrative expenses 5,439 2,621 3,785 2,254 (5,880) 8,219 Depreciation and impairment of property, equipment and software 672 11 159 76 0 918 Amortization and impairment of intangible assets 22 0 73 12 0 107 Total operating expenses 12,934 4,239 10,298 3,607 (5,880) 25,198 Operating profit / (loss) before tax 13,315 2,099 (362) 63 619 (10,327) 5,407 Tax expense / (benefit) 1,136 489 (1,200) (1,317) (16) (908) Net profit / (loss) 12,180 1,610 837 63 1,936 (10,313) 6,314 Net profit / (loss) attributable to preferred noteholders 77 0 0 31 0 (31) 77 Net profit / (loss) attributable to non-controlling interests 0 0 0 3 0 3 Net profit / (loss) attributable to shareholders 12,103 1,610 837 32 1,933 (10,281) 6,235 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under Complementary financial information for legal entities and sub-groups at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated statement of comprehensive income CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 UBS Preferred Funding Trust IV & V Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2015 Comprehensive income attributable to shareholders Net profit / (loss) 12,103 1,610 837 32 1,933 (10,281) 6,235 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (11) 0 121 (843) 467 (266) Financial assets available for sale, net of tax (51) 43 (21) (16) (19) (64) Cash flow hedges, net of tax (503) (72) 0 0 57 (518) Total other comprehensive income that may be reclassified to the income statement, net of tax (564) (29) 100 0 (859) 504 (848) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax 701 (337) (71) 27 (15) 304 Total other comprehensive income that will not be reclassified to the income statement, net of tax 701 (337) (71) 0 27 (15) 304 Total other comprehensive income 136 (366) 29 0 (832) 489 (545) Total comprehensive income attributable to shareholders 12,239 1,244 866 32 1,101 (9,792) 5,690 Total comprehensive income attributable to preferred noteholders 18 0 0 0 0 0 18 Total comprehensive income attributable to non-controlling interests 0 0 0 0 1 0 1 Total comprehensive income attributable to UBS Preferred Funding Trust IV & V 0 0 0 40 0 (40) 0 Total comprehensive income 12,257 1,244 866 72 1,102 (9,832) 5,709 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated statement of cash flows CHF million UBS AG 1 UBS Switzerland AG 1 UBS Americas Inc. 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2015 Net cash flow from / (used in) operating activities (1,457) 2,681 (525) 1,298 1,997 Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets (12) 0 1 0 (13) Disposal of subsidiaries, associates and intangible assets 2 464 0 13 0 477 Purchase of property, equipment and software (1,423) (5) (299) (114) (1,841) Disposal of property, equipment and software 503 0 9 35 547 Purchase of financial assets available for sale (66,659) (18,686) (2,722) (13,123) (101,189) Disposal and redemption of financial assets available for sale 51,515 22,501 2,952 16,616 93,584 Net (purchase) / redemption of financial assets held to maturity Net cash flow from / (used in) investing activities (15,613) 3,810 (47) 3,415 (8,434) Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) (5,603) 24 (826) 0 (6,404) Distributions paid on UBS AG shares (2,626) 0 0 0 (2,626) Issuance of long-term debt, including financial liabilities designated at fair value 46,882 772 7 129 47,790 Repayment of long-term debt, including financial liabilities designated at fair value (42,415) (402) (129) (1,274) (44,221) Dividends paid and repayments of preferred notes (108) 0 0 0 (108) Net changes in non-controlling interests 0 0 0 (5) (5) Net activity related to group internal capital transactions and dividends 3 (30,512) 33,293 (114) (2,666) 0 Net cash flow from / (used in) financing activities (34,382) 33,687 (1,062) (3,817) (5,573) Total cash flow Cash and cash equivalents at the beginning of the year 100,662 0 8,960 7,093 116,715 Net cash flow from / (used in) operating, investing and financing activities (51,451) 40,178 (1,634) 896 (12,010) Effects of exchange rate differences on cash and cash equivalents (1,309) 67 (241) (259) (1,742) Cash and cash equivalents at the end of the year 4 47,902 40,246 7,084 7,731 102,962 of which: cash and balances with central banks 45,125 38,701 4,971 2,509 91,306 of which: due from banks 2,072 1,438 2,009 5,213 10,732 of which: money market paper 5 704 107 104 9 924 1 Cash flows generally represent a third-party view from a UBS AG (consolidated) perspective. As a consequence, the non-consolidated UBS Preferred Funding Trusts IV and V are not presented in this table. For the year ended 31 December 2015, these trusts had cash inflows of CHF 77 million from operating activities and an equivalent cash outflow for dividends paid to preferred note holders. 2 Includes dividends received from associates. 3 Includes a transfer of cash and cash equivalents from UBS AG to UBS Switzerland AG of CHF 33,283 million. Refer to “Establishment of UBS Switzerland AG” in the “Legal entity financial and regulatory information” section of the UBS Group AG Annual Report 2015 for more information on the business transfer from UBS AG to UBS Switzerland AG. 4 CHF 3,963 million of cash and cash equivalents were restricted. 5 Money market paper is included in the balance sheet under Trading portfolio assets and Financial investments available for sale. |
MD&A - Risk management and cont
MD&A - Risk management and control | 12 Months Ended |
Dec. 31, 2017 | |
MDA Risk Management And Control [Line Items] | |
Disclosure Of Financial Risk Management Explanatory | Audited | Credit risk: the risk of loss resulting from the failure of a client or counterparty to meet its contractual obligations toward UBS. This includes settlement risk and loan underwriting risk: Settlement risk: the risk of loss resulting from transactions that involve exchange of value (e.g., security versus cash) where we must deliver without first being able to determine with certainty that we will receive the countervalue Loan underwriting risk: the risk of loss arising during the holding period of financing transactions which are intended for further distribution p Audited | Market risk (traded and non-traded): the risk of loss resulting from adverse movements in market variables. Market variables include observable variables such as interest rates, foreign exchange rates, equity prices, credit spreads and commodity (including precious metal) prices, and variables which may be unobservable or only indirectly observable, such as volatilities and correlations. Market risk includes issuer risk and investment risk: Issuer risk: the risk of loss from changes in fair value resulting from credit-related events affecting an issuer to which we are exposed through tradable securities or derivatives referencing the issuer Investment risk: issuer risk associated with positions held as financial investments p Audited | Liquidity risk: the risk of being unable to generate sufficient funds from assets to meet payment obligations when they fall due, including in times of stress p Audited | Funding risk : the risk of higher-than-expected funding costs due to wider-than-expected UBS credit spreads when existing funding positions mature and need to be rolled over or replaced by other, more expensive funding sources. If a shortage of available funding sources is expected in a stress event, funding risk also covers potential additional losses from forced asset sales p Audited | The Board of Directors (BoD) is responsible for determining the risk principles, risk appeti te and major portfolio limits of the Group, including their allocation to the business divisions and Corporate Center units. The BoD is supported by the BoD Risk Committee, which monitors and oversees the Group’s risk profile and the implementation of the risk framework as approved by the BoD, as well as assesses the Group’s key risk measurement methodologies. The Corporate Culture and Responsibility Committee supports the BoD in fulfilling its duty to safeguard and advance the Group’s reputation for respon sible and sustainable conduct. It reviews and assesses stakeholder concerns and expectations pertaining to UBS’s societal performance and corporate culture and recommends appropriate actions to the BoD. The Group Executive Board (GEB) implements the risk framework, controls the Group’s risk profile and approves key risk policies. The Group Chief Executive Officer (Group CEO) is responsible for the Group’s results, has risk authority over transactions, positions and exposures, and allocates portfolio limits approved by the BoD within the business divisions and Corporate Center units. The business division Presidents are accountable for the results of their business divisions. This includes actively managing their risk exposures, and balancing profit potentia l, risk, balance sheet and capital usage. The regional Presidents facilitate the implementation of UBS ’ s strategy in their region, and have the mandate to escalate activities and issues that may give rise to actual or potentially material regu latory or rep utational concerns. The Group Chief Risk Officer (Group CRO) is responsible for Risk Control. Risk Control independently oversees all primary risks and most consequential risks as outlined in “Risk categories” above. This includes establishing methodologie s to measure and assess risk, setting risk limits, and developing and operating an appropriate risk control infrastructure. Risk Control is also the central function for model risk management, which includes the validation of models used in the firm. The r isk control process is supported by a framework of policies and authorities. Business division and regional Chief Risk Officers have delegated authority for their respective divisions and regions. Moreover, authorities are delegated to risk officers accor ding to their expertise, experience and responsibilities. The Group Chief Financial Officer (Group CFO) is responsible for assessing and facilitating transparency in the financial performance of the Group and business divisions, and for monitoring whether disclosure of our financial performance meets regulatory requirements and corporate governance standards. The Group CFO manages the Group’s and divisional financial control functions, including financial accounting, controlling, forecasting, planning and r eporting processes. Further responsibilities include managing UBS’s tax affairs, as well as treasury and capital management, including the management of funding and liquidity risk and UBS’s regulatory capital ratios. The Group General Counsel (Group GC) m anages the Group ’ s legal affairs and is responsible for supporting the Group with effective and timely assessment of legal matters impacting the Group or its businesses and for providing the legal advice required by the Group. The Group GC is further respo nsible for the management and reporting of all litigation and other significant contentious matters, including all legal proceedings, that involve UBS. Group Internal Audit (GIA) independently assesses the adherence to our strategy, the effectiveness of go vernance, risk management and control processes at Group, business division and regional levels, including compliance with legal, regulatory and statutory requirements, as well as with internal policies and contracts. The Head GIA reports to the Chairman o f the BoD and, in addition, GIA has a functional reporting line to the Audit Committee. The above roles and responsibilities are replicated for certain significant legal entities of the Group through the appointment of entity level Presidents, Chief Risk O fficers, Chief Financial Officers and General Counsels. Audited | We apply a variety of methodologies and measurements to quantify the risks of our portfolios and potential risk concentrations. Risks that are not fully reflected within standard measures are subject to additional controls, which may include preapproval of s pecific transactions and the application of specific restrictions. Models to quantify risk are generally developed by dedicated units within control functions and are subject to independent verification. |
UBS AG | |
MDA Risk Management And Control [Line Items] | |
Disclosure Of Financial Risk Management Explanatory | Audited | Credit risk: the risk of loss resulting from the failure of a client or counterparty to meet its contractual obligations toward UBS. This includes settlement risk and loan underwriting risk: Settlement risk: the risk of loss resulting from transactions that involve exchange of value (e.g., security versus cash) where we must deliver without first being able to determine with certainty that we will receive the countervalue Loan underwriting risk: the risk of loss arising during the holding period of financing transactions which are intended for further distribution p Audited | Market risk (traded and non-traded): the risk of loss resulting from adverse movements in market variables. Market variables include observable variables such as interest rates, foreign exchange rates, equity prices, credit spreads and commodity (including precious metal) prices, and variables which may be unobservable or only indirectly observable, such as volatilities and correlations. Market risk includes issuer risk and investment risk: Issuer risk: the risk of loss from changes in fair value resulting from credit-related events affecting an issuer to which we are exposed through tradable securities or derivatives referencing the issuer Investment risk: issuer risk associated with positions held as financial investments p Audited | Liquidity risk: the risk of being unable to generate sufficient funds from assets to meet payment obligations when they fall due, including in times of stress p Audited | Funding risk : the risk of higher-than-expected funding costs due to wider-than-expected UBS credit spreads when existing funding positions mature and need to be rolled over or replaced by other, more expensive funding sources. If a shortage of available funding sources is expected in a stress event, funding risk also covers potential additional losses from forced asset sales p Audited | The Board of Directors (BoD) is responsible for determining the risk principles, risk appeti te and major portfolio limits of the Group, including their allocation to the business divisions and Corporate Center units. The BoD is supported by the BoD Risk Committee, which monitors and oversees the Group’s risk profile and the implementation of the risk framework as approved by the BoD, as well as assesses the Group’s key risk measurement methodologies. The Corporate Culture and Responsibility Committee supports the BoD in fulfilling its duty to safeguard and advance the Group’s reputation for respon sible and sustainable conduct. It reviews and assesses stakeholder concerns and expectations pertaining to UBS’s societal performance and corporate culture and recommends appropriate actions to the BoD. The Group Executive Board (GEB) implements the risk framework, controls the Group’s risk profile and approves key risk policies. The Group Chief Executive Officer (Group CEO) is responsible for the Group’s results, has risk authority over transactions, positions and exposures, and allocates portfolio limits approved by the BoD within the business divisions and Corporate Center units. The business division Presidents are accountable for the results of their business divisions. This includes actively managing their risk exposures, and balancing profit potentia l, risk, balance sheet and capital usage. The regional Presidents facilitate the implementation of UBS ’ s strategy in their region, and have the mandate to escalate activities and issues that may give rise to actual or potentially material regu latory or rep utational concerns. The Group Chief Risk Officer (Group CRO) is responsible for Risk Control. Risk Control independently oversees all primary risks and most consequential risks as outlined in “Risk categories” above. This includes establishing methodologie s to measure and assess risk, setting risk limits, and developing and operating an appropriate risk control infrastructure. Risk Control is also the central function for model risk management, which includes the validation of models used in the firm. The r isk control process is supported by a framework of policies and authorities. Business division and regional Chief Risk Officers have delegated authority for their respective divisions and regions. Moreover, authorities are delegated to risk officers accor ding to their expertise, experience and responsibilities. The Group Chief Financial Officer (Group CFO) is responsible for assessing and facilitating transparency in the financial performance of the Group and business divisions, and for monitoring whether disclosure of our financial performance meets regulatory requirements and corporate governance standards. The Group CFO manages the Group’s and divisional financial control functions, including financial accounting, controlling, forecasting, planning and r eporting processes. Further responsibilities include managing UBS’s tax affairs, as well as treasury and capital management, including the management of funding and liquidity risk and UBS’s regulatory capital ratios. The Group General Counsel (Group GC) m anages the Group ’ s legal affairs and is responsible for supporting the Group with effective and timely assessment of legal matters impacting the Group or its businesses and for providing the legal advice required by the Group. The Group GC is further respo nsible for the management and reporting of all litigation and other significant contentious matters, including all legal proceedings, that involve UBS. Group Internal Audit (GIA) independently assesses the adherence to our strategy, the effectiveness of go vernance, risk management and control processes at Group, business division and regional levels, including compliance with legal, regulatory and statutory requirements, as well as with internal policies and contracts. The Head GIA reports to the Chairman o f the BoD and, in addition, GIA has a functional reporting line to the Audit Committee. The above roles and responsibilities are replicated for certain significant legal entities of the Group through the appointment of entity level Presidents, Chief Risk O fficers, Chief Financial Officers and General Counsels. Audited | We apply a variety of methodologies and measurements to quantify the risks of our portfolios and potential risk concentrations. Risks that are not fully reflected within standard measures are subject to additional controls, which may include preapproval of s pecific transactions and the application of specific restrictions. Models to quantify risk are generally developed by dedicated units within control functions and are subject to independent verification. |
MD&A - Risk management and co60
MD&A - Risk management and control - Credit Risk | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure MDA Risk Management And Control Credit Risk [Line Items] | |
Disclosure Of Credit Risk Explanatory | Audited | Main sources of credit risk A substantial portion of our lending exposure arises from our Swiss domestic business, which offers corporate loans and mortgage loans mainly secured again st residential properties and income-producing real estate, and therefore depends on the performance of the Swiss economy. Within the Investment Bank, our credit exposure mainly arises from lending, derivatives trading and securities financing and is predo minantly investment grade. Loan underwriting activity can be lower rated and gives rise to concentrated exposure of a temporary nature. Our wealth management businesses predominately conduct securities-based lending and mortgage lending . Credit risk within Non-core and Legacy Portfolio relates to derivative transactions, predominantly carried out on a cash - collateralized basis, and securitized positions. Audited | Overview of measurement, monitoring and ma n agement techniques Credit risk arising fro m transactions with individual counterparties is measured according to our estimates of probability of default, exposure at default and loss given default. Limits are established for individual counterparties and groups of related counterparties covering b anking and traded products as well as settlement amounts. Risk control authorities are approved by the Board of Directors and are delegated to the Group Chief Executive Officer, Group Chief Risk Officer and divisional Chief Risk Officers based on risk expo sure amounts and internal credit rating. Limits apply not only to the current outstanding amount, but also to contingent commitments and the potential future exposure of traded products. For the Investment Bank, our monitoring, measurement and limit framew ork distinguishes between exposures intended to be held to maturity (take-and-hold exposures) and those that are intended to be held for a short term, pending distribution or risk transfer (temporary exposures). We also use models to derive portfolio cred it risk measures of expected loss, statistical loss and stress loss at the Group-wide and business division levels and establish portfolio limits at these levels. Credit risk concentrations can arise if clients are engaged in similar activities, are locate d in the same geographical region or have comparable economic characteristics, for example, if their ability to meet contractual obligations would be similarly affected by changes in economic, political or other conditions. To avoid credit risk concentrati ons, we establish limits and / or operational controls that constrain risk concentrations at portfolio and sub-portfolio levels with regard to sector exposure, country risk and specific product exposures. Audited | We have developed tools and models in order to estimate future credit losses that may be implicit in our current portfolio. Exposures to individual counterparties are measured on the basis of three generally accepted parameters: probability of default (PD), loss given default (LGD) and exposure at default (EAD). For a given credit facility, the produc t of these three parameters results in the expected loss. These parameters are the basis for the majority of our internal measures of credit risk, and are key inputs for the regulatory capital calculation under the advanced internal ratings-based approach of the Basel III framework governing international convergence of capital. We also use models to derive the portfolio credit risk measures of expected loss, statistical loss and stress loss. Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
Credit risk mitigation | We actively manage the credit risk in our portfolios by taking collateral against exposures and by utilizing credit hedging. We use a scoring model as part of a standardized front-to-back process to support credit decisions for the origination or modification of Swiss mortgage loans. The two key factors within this model are an affordability calculation relative to gross income and the loan-to-value (LTV) ratio. The value assigned by UBS to each property is based on the lowest value determined from internally calculated valuations, the purchase price and, in some cases, an additional external valuation. We similarly apply underwriting guidelines for our Wealth Management Americas mortgage loan portfolio taking into account affordability of the loans and sufficiency of collateral. The maximum LTV within the standard approval process for any type of mortgage is 80%. A stratification of LTVs exists for the various mortgage types, such as residential mortgage or investment property, based on associated risk factors, such as property types, loan size and loan purpose. Maximum LTVs go as low as 45%. Additionally, other credit risk metrics are applied, based upon property and borrower characteristics, such as debt-to-income ratios, FICO credit scores and required client reserves. A risk limit framework is applied to the Wealth Management Americas mortgage portfolio. Limits have been established to govern exposures within LTV categories, geographic concentrations, portfolio growth and high-risk mortgage segments such as interest-only loans. These limits are monitored by a specialized credit risk monitoring team and reported to senior management. Supplementing this limit framework is a real estate lending policy and procedures framework, established to govern the real estate lending activities. Quality assurance and quality control programs are in place to monitor compliance with mortgage underwriting and documentation requirements. Lombard loans are secured by a pledge of marketable securities, guarantees and other forms of collateral. Eligible financial securities primarily include transferable securities (such as bonds and equities), which are liquid and actively traded, and other transferable securities such as approved structured products for which regular prices are available and for which the issuer of the security provides a market. To a lesser degree, less liquid collateral is also financed. We apply discounts (haircuts) to reflect the collateral’s risk and to derive the lending value. Haircuts for marketable securities are calculated to cover the possible change in the market value over a given close-out period and confidence level; the haircut applied will vary depending on the view of the counterparty’s creditworthiness. Less liquid or more volatile collateral will typically attract larger haircuts. For less liquid instruments, such as structured products, some bonds, and products with long redemption periods, the assumed close-out period may be much longer than that for highly liquid instruments, or an assessment is made as to the expected recovery on the asset in the event of the counterparty’s default, resulting in a larger haircut. For cash, life insurance policies, guarantees and letters of credit, haircuts are determined on a product- or client-specific basis. We also consider concentration and correlation risks across collateral posted on a counterparty level as well as at a divisional level across counterparties. Additionally, we perform targeted Group-wide reviews of concentrations. A concentration of collateral in single securities, issuers or issuer groups, industry sectors, countries, regions or currencies may result in higher risk and reduced liquidity. In such cases, the lending value of the collateral, margin call and close-out levels are adjusted accordingly. Counterparty credit risk arising from traded products, which include OTC derivatives, ETD exposures and SFTs originating in the Investment Bank, Non-core and Legacy Portfolio and Corporate Center – Group ALM, is generally managed on a close-out basis. This takes into account the effect of market movements on the exposure and any associated collateral over the potential time it would take to close out our positions. In the Investment Bank, limits are applied to the potential future exposure per counterparty, with the size of the limit driven by the view of the creditworthiness of the counterparty as determined by Credit Risk Control. Limit frameworks are also applied to control overall exposure to specific classes or categories of collateral on a portfolio level. Such portfolio limits are monitored and reported to senior management. Trading in OTC derivatives is conducted through central counterparties (CCPs) where practicable. Where CCPs are not used, we have clearly defined policies and processes for trading on a bilateral basis. Trading is typically conducted under bilateral International Swaps and Derivatives Association (ISDA) or similar master netting agreements, which generally allow for the close-out and netting of transactions in the event of default subject to applicable law. For most major market participant counterparties, we employ two-way collateral agreements under which either party can be required to provide collateral in the form of cash or marketable securities when the exposure exceeds specified levels. This collateral typically consists of well-rated government debt or other collateral permitted by applicable regulations. For certain counterparties, initial margin is taken to cover some or all of the calculated close-out exposure. This is in addition to the variation margin taken to settle changes in the market value of transactions. Regulations governing the margining of certain uncleared OTC derivatives continue to evolve. These generally expand the scope of bilateral derivatives activity subject to margining. In addition, they will result in greater amounts of initial margin received from, and posted to, certain bilateral trading counterparties than had been required in the past. These changes should result in lower close-out risk over time. We utilize single-name CDSs, credit index CDSs, bespoke protection, and other instruments to actively manage credit risk in the Investment Bank and Non-core and Legacy Portfolio. This is aimed at reducing concentrations of risk from specific counterparties, sectors or portfolios and, in the case of counterparty credit risk, the profit or loss impact arising from changes in credit valuation adjustments (CVA). We maintain strict guidelines for taking credit hedges into account for credit risk mitigation purposes. For example, when monitoring exposures against counterparty limits, we do not usually recognize credit risk mitigants such as proxy hedges (credit protection on a correlated but different name) or credit index CDSs. Buying credit protection also creates credit exposure against the protection provider. We monitor and limit our exposures to credit protection providers and the effectiveness of credit hedges as part of our overall credit exposures to the relevant counterparties. Trading with such counterparties is typically collateralized. For credit protection purchased to hedge the lending portfolio, this includes monitoring mismatches between the maturity of the credit protection purchased and the maturity of the associated loan. Such mismatches result in basis risk and may reduce the effectiveness of the credit protection. Mismatches are routinely reported to credit officers and mitigating actions are taken when deemed necessary. |
Disclosure Of Financial Assets That Are Either Past Due Or Impaired Explanatory | Audited | For products accounted for on a fair value basis, such as OTC derivatives, credit deterioration is recognized through a credit valuation adjustment (CVA), and these products are therefore not subject to the impairment framework. We consider a claim held at amortized cost (loans and SFTs) and certain off-balance sheet commitments to be past due when a contractual payment has not been received by its contractu al due date, or in case of account overdrafts, i.e., where the credit limit is exceeded. Past due claims are not considered impaired where we otherwise expect to collect all amounts due under the contractual terms of the claims. A past due claim is conside red non-performing when (i) the payment of interest, principal or fees is past due by more than 90 days, or more than 180 days for certain specified retail portfolios. Claims are also classified as non-performing when (ii) the counterparty is subject to ba nkruptcy, or insolvency proceedings or enforced liquidation have commenced or (iii) obligations have been restructured on preferential terms, such as preferential interest rates, extension of maturity , modifying the schedule of repayments or subordination. C laims are classified as impaired if, following an individual impairment assessment, an allowance or provision for credit losses is established. Accordingly, both performing and non-performing loans may be classified as impaired. When a financial asset has become non-performing, individually impaired or otherwise has defaulted, the counterparty is rated as in default according to our UBS internal rating scale. Audited | Under imminent payment default or where default has alr eady occurred, we sometimes restructure claims by providing concessions that we would otherwise not consider and that are outside our normal risk appetite, such as preferential interest rates, extension of maturity, modifying the schedule of repayments, de bt/equity swap and subordination. When a credit restructuring takes place, each case is considered individually and the exposure is classified as defaulted and assessed for impairment. It will remain so, until the loan is collected or written off, non-pref erential conditions are granted that supersede the preferential conditions or until the counterparty has recovered and the preferential conditions no longer exceed our risk appetite. Contractual adjustments when there is no evidence of imminent payment def ault, or where changes to terms and conditions are within our usual risk appetite, are not considered to be a credit restructuring. Audited | Claims are assessed individually for impairment where there are indicators that an impairment may exist. Otherwise, portfolios of claims with similar credit risk characteristics are included in a collective impairment assessment. Audited | Non-performing status is considered an indic ator that a loan may be impaired and therefore non-performing claims are assessed individually for impairment. However, an impairment analysis would be carried out irrespective of non-performing status if other objective evidence indicates that a loan may be impaired. Any event that impacts current and future cash flows may be an indication of impairment and trigger an assessment by the risk officer. Such events may be (i) significant collateral shortfalls due to a fall in lending values (securities and rea l estate), (ii) increase in loan exposure, (iii) significant financial difficulties of a client and (iv) high probability of the client’s bankruptcy, debt moratorium or financial reorganization. Individual claims are assessed for impairment based on the borrower’s overall financial condition, resources and payment record, the prospects of support from contractual guarantors and, where applicable, the realizable value of any collateral. The recoverable amount is determined from all relevant cash flows , and where this is lower than the carrying amount of the claim, the claim is considered impaired. We have established processes to determine the carrying values of impaired claims in compliance with IFRS requirements. Our credit co ntrols applied to valuation processes and workout agreements are the same for credit products measured at amortized cost and fair value. Our workout strategy and estimation of recoverable amounts are independently approved in accordance with our credit aut horities. Audited | We assess our portfolios of claims carried at amortized cost with similar credit risk characteristics for collective impairment in order to consider if these portfolios contain impaired claims that can not yet be individually identified. To cover the time lag between the occurrence of an impairment event and its identification based on the policies above, we establish collective loan loss allowances based on the estimated loss for the portfolio over the average period between trigger events and the identification of any individual impairment. These portfolios are not considered impaired loans in the tables shown in this section. Additionally, for all of our portfolios we assess whether there have been an y developments that might result in event-driven impairments that are not immediately observable. These events could be stress situations, such as a natural disaster or a country crisis, or they could result from significant changes in the legal or regulat ory environment. To determine whether a collective impairment exists, we regularly use a set of global economic drivers to assess the most vulnerable countries and review the impact of any potential impairment event. Audited | T he recognition of impairment in our financial statements depends on the accounting treatment of the claim. For claims carried at amortized cost, impairment is recognized through the creation of an allowance, or in the case of off-balance sheet items such a s financial guarantees and certain loan commitments through a provision, both charged to the income statement as a credit loss expense. For claims measured at fair value, a deterioration of the credit quality is recognized as a CVA in the income statement in Net trading income . Audited | The following tables show impaired financial instruments, comprising loans, guarantees and loan commitments, and SFTs. As of 31 December 2017, gross impaired fin ancial instruments stood at CHF 1.3 billion compared with CHF 1.2 billion as of 31 December 2016. A fter deducting the estimated liquidation proceeds of collateral and specific allowances and provisions, net impaired financial instruments were CHF 0.3 billion compared with CHF 0.4 billion. Impaired financial instruments by type CHF million Gross impaired financial instruments Allowances and provisions Estimated liquidation proceeds of collateral 1 Net impaired financial instruments 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Loans (including amounts due from banks) 1,076 975 (661) (599) (206) (161) 210 215 Guarantees and loan commitments 199 260 (33) (54) (5) (10) 161 195 Total impaired financial instruments 1,275 2 1,235 (694) 2 (653) (210) (171) 371 411 1 Does not include oil and gas reserves related to reserve-based lending. 2 Includes CHF 13 million in collective loan loss allowances (31 December 2016: CHF 12 million). Does not include exposures within Other assets of CHF 352 million, with associated allowances of CHF 19 million. Audited | Collateral held against our impaired loan exposure mainly consisted of real estate and securities. It is our policy to dispose of foreclosed real estate as soon as practicable. The carrying amount of fore closed property recorded in our balance sheet at the end of 2017 and 2016 amounted to CHF 60 million and CHF 51 million, respectively. We seek to liquidate collateral held in the form of financial assets expeditiously and at prices considered fair. T his may require us to purchase assets for our own account, where permitted by law, pending orderly liquidation. Past due but not impaired loans CHF million 31.12.17 31.12.16 1–10 days 126 54 11–30 days 108 113 31–60 days 126 68 61–90 days 192 10 >90 days 507 641 of which: mortgage loans 336 1 542 1 Total 1,059 887 1 Total mortgage loans IFRS carrying value was CHF 153,729 million (31 December 2016: CHF 153,006 million). |
UBS AG | |
Disclosure MDA Risk Management And Control Credit Risk [Line Items] | |
Disclosure Of Credit Risk Explanatory | Audited | Main sources of credit risk A substantial portion of our lending exposure arises from our Swiss domestic business, which offers corporate loans and mortgage loans mainly secured again st residential properties and income-producing real estate, and therefore depends on the performance of the Swiss economy. Within the Investment Bank, our credit exposure mainly arises from lending, derivatives trading and securities financing and is predo minantly investment grade. Loan underwriting activity can be lower rated and gives rise to concentrated exposure of a temporary nature. Our wealth management businesses predominately conduct securities-based lending and mortgage lending . Credit risk within Non-core and Legacy Portfolio relates to derivative transactions, predominantly carried out on a cash - collateralized basis, and securitized positions. Audited | Overview of measurement, monitoring and ma n agement techniques Credit risk arising fro m transactions with individual counterparties is measured according to our estimates of probability of default, exposure at default and loss given default. Limits are established for individual counterparties and groups of related counterparties covering b anking and traded products as well as settlement amounts. Risk control authorities are approved by the Board of Directors and are delegated to the Group Chief Executive Officer, Group Chief Risk Officer and divisional Chief Risk Officers based on risk expo sure amounts and internal credit rating. Limits apply not only to the current outstanding amount, but also to contingent commitments and the potential future exposure of traded products. For the Investment Bank, our monitoring, measurement and limit framew ork distinguishes between exposures intended to be held to maturity (take-and-hold exposures) and those that are intended to be held for a short term, pending distribution or risk transfer (temporary exposures). We also use models to derive portfolio cred it risk measures of expected loss, statistical loss and stress loss at the Group-wide and business division levels and establish portfolio limits at these levels. Credit risk concentrations can arise if clients are engaged in similar activities, are locate d in the same geographical region or have comparable economic characteristics, for example, if their ability to meet contractual obligations would be similarly affected by changes in economic, political or other conditions. To avoid credit risk concentrati ons, we establish limits and / or operational controls that constrain risk concentrations at portfolio and sub-portfolio levels with regard to sector exposure, country risk and specific product exposures. Audited | We have developed tools and models in order to estimate future credit losses that may be implicit in our current portfolio. Exposures to individual counterparties are measured on the basis of three generally accepted parameters: probability of default (PD), loss given default (LGD) and exposure at default (EAD). For a given credit facility, the produc t of these three parameters results in the expected loss. These parameters are the basis for the majority of our internal measures of credit risk, and are key inputs for the regulatory capital calculation under the advanced internal ratings-based approach of the Basel III framework governing international convergence of capital. We also use models to derive the portfolio credit risk measures of expected loss, statistical loss and stress loss. Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
Credit risk mitigation | We actively manage the credit risk in our portfolios by taking collateral against exposures and by utilizing credit hedging. We use a scoring model as part of a standardized front-to-back process to support credit decisions for the origination or modification of Swiss mortgage loans. The two key factors within this model are an affordability calculation relative to gross income and the loan-to-value (LTV) ratio. The value assigned by UBS to each property is based on the lowest value determined from internally calculated valuations, the purchase price and, in some cases, an additional external valuation. We similarly apply underwriting guidelines for our Wealth Management Americas mortgage loan portfolio taking into account affordability of the loans and sufficiency of collateral. The maximum LTV within the standard approval process for any type of mortgage is 80%. A stratification of LTVs exists for the various mortgage types, such as residential mortgage or investment property, based on associated risk factors, such as property types, loan size and loan purpose. Maximum LTVs go as low as 45%. Additionally, other credit risk metrics are applied, based upon property and borrower characteristics, such as debt-to-income ratios, FICO credit scores and required client reserves. A risk limit framework is applied to the Wealth Management Americas mortgage portfolio. Limits have been established to govern exposures within LTV categories, geographic concentrations, portfolio growth and high-risk mortgage segments such as interest-only loans. These limits are monitored by a specialized credit risk monitoring team and reported to senior management. Supplementing this limit framework is a real estate lending policy and procedures framework, established to govern the real estate lending activities. Quality assurance and quality control programs are in place to monitor compliance with mortgage underwriting and documentation requirements. Lombard loans are secured by a pledge of marketable securities, guarantees and other forms of collateral. Eligible financial securities primarily include transferable securities (such as bonds and equities), which are liquid and actively traded, and other transferable securities such as approved structured products for which regular prices are available and for which the issuer of the security provides a market. To a lesser degree, less liquid collateral is also financed. We apply discounts (haircuts) to reflect the collateral’s risk and to derive the lending value. Haircuts for marketable securities are calculated to cover the possible change in the market value over a given close-out period and confidence level; the haircut applied will vary depending on the view of the counterparty’s creditworthiness. Less liquid or more volatile collateral will typically attract larger haircuts. For less liquid instruments, such as structured products, some bonds, and products with long redemption periods, the assumed close-out period may be much longer than that for highly liquid instruments, or an assessment is made as to the expected recovery on the asset in the event of the counterparty’s default, resulting in a larger haircut. For cash, life insurance policies, guarantees and letters of credit, haircuts are determined on a product- or client-specific basis. We also consider concentration and correlation risks across collateral posted on a counterparty level as well as at a divisional level across counterparties. Additionally, we perform targeted Group-wide reviews of concentrations. A concentration of collateral in single securities, issuers or issuer groups, industry sectors, countries, regions or currencies may result in higher risk and reduced liquidity. In such cases, the lending value of the collateral, margin call and close-out levels are adjusted accordingly. Counterparty credit risk arising from traded products, which include OTC derivatives, ETD exposures and SFTs originating in the Investment Bank, Non-core and Legacy Portfolio and Corporate Center – Group ALM, is generally managed on a close-out basis. This takes into account the effect of market movements on the exposure and any associated collateral over the potential time it would take to close out our positions. In the Investment Bank, limits are applied to the potential future exposure per counterparty, with the size of the limit driven by the view of the creditworthiness of the counterparty as determined by Credit Risk Control. Limit frameworks are also applied to control overall exposure to specific classes or categories of collateral on a portfolio level. Such portfolio limits are monitored and reported to senior management. Trading in OTC derivatives is conducted through central counterparties (CCPs) where practicable. Where CCPs are not used, we have clearly defined policies and processes for trading on a bilateral basis. Trading is typically conducted under bilateral International Swaps and Derivatives Association (ISDA) or similar master netting agreements, which generally allow for the close-out and netting of transactions in the event of default subject to applicable law. For most major market participant counterparties, we employ two-way collateral agreements under which either party can be required to provide collateral in the form of cash or marketable securities when the exposure exceeds specified levels. This collateral typically consists of well-rated government debt or other collateral permitted by applicable regulations. For certain counterparties, initial margin is taken to cover some or all of the calculated close-out exposure. This is in addition to the variation margin taken to settle changes in the market value of transactions. Regulations governing the margining of certain uncleared OTC derivatives continue to evolve. These generally expand the scope of bilateral derivatives activity subject to margining. In addition, they will result in greater amounts of initial margin received from, and posted to, certain bilateral trading counterparties than had been required in the past. These changes should result in lower close-out risk over time. We utilize single-name CDSs, credit index CDSs, bespoke protection, and other instruments to actively manage credit risk in the Investment Bank and Non-core and Legacy Portfolio. This is aimed at reducing concentrations of risk from specific counterparties, sectors or portfolios and, in the case of counterparty credit risk, the profit or loss impact arising from changes in credit valuation adjustments (CVA). We maintain strict guidelines for taking credit hedges into account for credit risk mitigation purposes. For example, when monitoring exposures against counterparty limits, we do not usually recognize credit risk mitigants such as proxy hedges (credit protection on a correlated but different name) or credit index CDSs. Buying credit protection also creates credit exposure against the protection provider. We monitor and limit our exposures to credit protection providers and the effectiveness of credit hedges as part of our overall credit exposures to the relevant counterparties. Trading with such counterparties is typically collateralized. For credit protection purchased to hedge the lending portfolio, this includes monitoring mismatches between the maturity of the credit protection purchased and the maturity of the associated loan. Such mismatches result in basis risk and may reduce the effectiveness of the credit protection. Mismatches are routinely reported to credit officers and mitigating actions are taken when deemed necessary. |
Disclosure Of Financial Assets That Are Either Past Due Or Impaired Explanatory | Audited | For products accounted for on a fair value basis, such as OTC derivatives, credit deterioration is recognized through a credit valuation adjustment (CVA), and these products are therefore not subject to the impairment framework. We consider a claim held at amortized cost (loans and SFTs) and certain off-balance sheet commitments to be past due when a contractual payment has not been received by its contractu al due date, or in case of account overdrafts, i.e., where the credit limit is exceeded. Past due claims are not considered impaired where we otherwise expect to collect all amounts due under the contractual terms of the claims. A past due claim is conside red non-performing when (i) the payment of interest, principal or fees is past due by more than 90 days, or more than 180 days for certain specified retail portfolios. Claims are also classified as non-performing when (ii) the counterparty is subject to ba nkruptcy, or insolvency proceedings or enforced liquidation have commenced or (iii) obligations have been restructured on preferential terms, such as preferential interest rates, extension of maturity , modifying the schedule of repayments or subordination. C laims are classified as impaired if, following an individual impairment assessment, an allowance or provision for credit losses is established. Accordingly, both performing and non-performing loans may be classified as impaired. When a financial asset has become non-performing, individually impaired or otherwise has defaulted, the counterparty is rated as in default according to our UBS internal rating scale. Audited | Under imminent payment default or where default has alr eady occurred, we sometimes restructure claims by providing concessions that we would otherwise not consider and that are outside our normal risk appetite, such as preferential interest rates, extension of maturity, modifying the schedule of repayments, de bt/equity swap and subordination. When a credit restructuring takes place, each case is considered individually and the exposure is classified as defaulted and assessed for impairment. It will remain so, until the loan is collected or written off, non-pref erential conditions are granted that supersede the preferential conditions or until the counterparty has recovered and the preferential conditions no longer exceed our risk appetite. Contractual adjustments when there is no evidence of imminent payment def ault, or where changes to terms and conditions are within our usual risk appetite, are not considered to be a credit restructuring. Audited | Claims are assessed individually for impairment where there are indicators that an impairment may exist. Otherwise, portfolios of claims with similar credit risk characteristics are included in a collective impairment assessment. Audited | Non-performing status is considered an indic ator that a loan may be impaired and therefore non-performing claims are assessed individually for impairment. However, an impairment analysis would be carried out irrespective of non-performing status if other objective evidence indicates that a loan may be impaired. Any event that impacts current and future cash flows may be an indication of impairment and trigger an assessment by the risk officer. Such events may be (i) significant collateral shortfalls due to a fall in lending values (securities and rea l estate), (ii) increase in loan exposure, (iii) significant financial difficulties of a client and (iv) high probability of the client’s bankruptcy, debt moratorium or financial reorganization. Individual claims are assessed for impairment based on the borrower’s overall financial condition, resources and payment record, the prospects of support from contractual guarantors and, where applicable, the realizable value of any collateral. The recoverable amount is determined from all relevant cash flows , and where this is lower than the carrying amount of the claim, the claim is considered impaired. We have established processes to determine the carrying values of impaired claims in compliance with IFRS requirements. Our credit co ntrols applied to valuation processes and workout agreements are the same for credit products measured at amortized cost and fair value. Our workout strategy and estimation of recoverable amounts are independently approved in accordance with our credit aut horities. Audited | We assess our portfolios of claims carried at amortized cost with similar credit risk characteristics for collective impairment in order to consider if these portfolios contain impaired claims that can not yet be individually identified. To cover the time lag between the occurrence of an impairment event and its identification based on the policies above, we establish collective loan loss allowances based on the estimated loss for the portfolio over the average period between trigger events and the identification of any individual impairment. These portfolios are not considered impaired loans in the tables shown in this section. Additionally, for all of our portfolios we assess whether there have been an y developments that might result in event-driven impairments that are not immediately observable. These events could be stress situations, such as a natural disaster or a country crisis, or they could result from significant changes in the legal or regulat ory environment. To determine whether a collective impairment exists, we regularly use a set of global economic drivers to assess the most vulnerable countries and review the impact of any potential impairment event. Audited | T he recognition of impairment in our financial statements depends on the accounting treatment of the claim. For claims carried at amortized cost, impairment is recognized through the creation of an allowance, or in the case of off-balance sheet items such a s financial guarantees and certain loan commitments through a provision, both charged to the income statement as a credit loss expense. For claims measured at fair value, a deterioration of the credit quality is recognized as a CVA in the income statement in Net trading income . Audited | The following tables show impaired financial instruments, comprising loans, guarantees and loan commitments, and SFTs. As of 31 December 2017, gross impaired fin ancial instruments stood at CHF 1.3 billion compared with CHF 1.2 billion as of 31 December 2016. A fter deducting the estimated liquidation proceeds of collateral and specific allowances and provisions, net impaired financial instruments were CHF 0.3 billion compared with CHF 0.4 billion. Impaired financial instruments by type CHF million Gross impaired financial instruments Allowances and provisions Estimated liquidation proceeds of collateral 1 Net impaired financial instruments 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Loans (including amounts due from banks) 1,076 975 (661) (599) (206) (161) 210 215 Guarantees and loan commitments 199 260 (33) (54) (5) (10) 161 195 Total impaired financial instruments 1,275 2 1,235 (694) 2 (653) (210) (171) 371 411 1 Does not include oil and gas reserves related to reserve-based lending. 2 Includes CHF 13 million in collective loan loss allowances (31 December 2016: CHF 12 million). Does not include exposures within Other assets of CHF 352 million, with associated allowances of CHF 19 million. Audited | Collateral held against our impaired loan exposure mainly consisted of real estate and securities. It is our policy to dispose of foreclosed real estate as soon as practicable. The carrying amount of fore closed property recorded in our balance sheet at the end of 2017 and 2016 amounted to CHF 60 million and CHF 51 million, respectively. We seek to liquidate collateral held in the form of financial assets expeditiously and at prices considered fair. T his may require us to purchase assets for our own account, where permitted by law, pending orderly liquidation. Past due but not impaired loans CHF million 31.12.17 31.12.16 1–10 days 126 54 11–30 days 108 113 31–60 days 126 68 61–90 days 192 10 >90 days 507 641 of which: mortgage loans 336 1 542 1 Total 1,059 887 1 Total mortgage loans IFRS carrying value was CHF 153,729 million (31 December 2016: CHF 153,006 million). |
MD&A - Risk management and co61
MD&A - Risk management and control - Market Risk | 12 Months Ended |
Dec. 31, 2017 | |
MDA Risk Management And Control Market Risk [Line Items] | |
Disclosure Of Market Risk Explanatory | Audited | Main sources of market risk Market risks arise from both our trading and non-tra ding business activities. Trading market risks arise mainly in connection with primary debt and equity underwriting, securities and derivatives trading for market-making and client facilitation within our Investment Bank, as well as the remaining positions within Non-core and Legacy Portfolio and our municipal securities trading business within Wealth Management Americas. Non-trading market risk arises predominantly in the form of interest rate and foreign exchange risks in connection with personal banking and lending in our wealth management businesses, our personal and corporate banking business in Switzerland and the Investment Bank’s lending business, in addition to treasury activities. Corporate Center – Asset and Liability Management (Group ALM) assume s market risks in the process of managing interest rate risk, structural foreign exchange risk and the liquidity and funding profile (including high-quality liquid asset s ) of the Group. Equity and debt investments can also give rise to market risks, as can some aspects of our employee benefits, such as defined benefit pension schemes. Audited | Overview of measurement, monitoring and ma n agement techniques Management VaR measures exposures under the market risk framework. This includes trading market risks and parts of non-trading market risks. Non-trading market risks not included in VaR are covered in the risks controlled by Treasury Risk Control as set out further below. Market risk limits are set for the Group, the business divisions and Corporate Cente r units and at granular levels within the various business lines, reflecting the nature and magnitude of the market risks. Our primary portfolio measures of market risk are liquidity-adjusted stress (LAS) loss and value-at-risk (VaR). Both are common to al l our business divisions and subject to limits that are approved by the Board of Directors (BoD). These measures are complemented by concentration and granular limits for general and specific market risk factors. Our trading businesses are subject to multi ple market risk limits. These limits take into account the extent of market liquidity and volatility, available operational capacity, valuation uncertainty and, for our single-name exposures, the credit quality of issuers. Trading market risks are managed on an integrated basis at a portfolio level. As risk factor sensitivities change due to new transactions, transaction expiries or changes in market levels, risk factors are dynamically rehedged to remain within limits. Accordingly, in the trading portfolio , we do not generally seek to distinguish between specific positions and associated hedges. Issuer risk is controlled by limits applied at the business division level based on jump-to-zero measures, which estimate our maximum default exposure (the loss in the case of a default event assuming zero recovery). Non-trading foreign exchange risks are managed under market risk limits, with the exception of Corporate Center – Group ALM’s management of consolidated capital activity. Our Treasury Risk Control function applies a holistic risk framework, which sets the appetite for treasury-related risk-taking activities across the Group. A key element of the framework is an overarching economic value sensitivity limit, set by the BoD. This limit is linked to th e level of Basel III common equity tier 1 (CET1) capital and takes into account risks arising from interest rates, foreign exchange and credit spreads. In addition, the sensitivity of net interest income to changes in interest rates is monitored against ta rgets set by the Group Chief Executive Officer, in order to analyze the outlook and volatility of net interest income based on market-expected interest rates. Limits are also set by the BoD to balance the impact of foreign exchange movements on our CET1 ca pital and CET1 capital ratio. Non-trading interest rate and foreign exchange risks are included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. Equity and debt investments are subject to a range of ris k controls, including preapproval of new investments by business management and Risk Control and regular monitoring and reporting. They are also included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. Audited | Interest rate risk in the banking book arises from balance sheet positions such as Loans, Due from customers , Debt issued, Financial assets available for sale, Financial assets held to maturity, certain Financial assets and liabilities designated at fair value, derivatives measured at fair value, including derivatives used for cash flow hedge accounting purposes, as well as related funding transactions. These positions may impact Other comprehensive income (OCI) or the income statement, depending on their accounting treatment. Our largest banking book interest rate exposures arise from client deposits and lending products in our wealth management businesses and Personal & Corporate Banking. For Wealth Management and Personal & Corporate Banking, the inheren t interest rate risks are transferred either by means of back-to-back transactions or, in the case of products with no contractual maturity date or direct market-linked rate, by replicating portfolios from the originating business into Corporate Center – G roup ALM, which manages the risks on an integrated basis, allowing for netting interest rate risks across different sources. Any residual interest rate risks in our wealth management businesses and Personal & Corporate Banking that are not transferred to C orporate Center – Group ALM are managed locally and are subject to independent monitoring and control by local risk control units as well as centrally by Market Risk Control. To manage the interest rate risk centrally, Corporate Center – Group ALM uses der ivative instruments, most of which are in designated hedge accounting relationships. A significant amount of interest rate risk also arises from Corporate Center – Group ALM financing and investing activities, such as the investment and refinancing of non- monetary corporate balance sheet items with indefinite maturities, including equity, goodwill and real estate. For these items, senior management has defined specific target durations as a basis for our funding and investment activities, as applicable. The se targets are defined by replication portfolios, which establish rolling benchmarks to execute against. As of 31 December 2017, the target replication portfolios for equity, goodwill and real estate were defined as follows: in Swiss francs with an average duration of approximately two years and fair value sensitivity of CHF 5 million per basis point; in US dollars with an average duration of approximately five years and a sensitivity of CHF 11 million per basis point. Corporate Center – Group ALM also main tains a portfolio of debt investments to meet the Group’s liquidity needs. Interest rate risk within Wealth Management Americas arises from the business division’s portfolio of available-for-sale assets, in addition to its lending and deposit products offe red to clients. This interest rate risk is closely measured, monitored and managed within approved risk limits and controls, taking into account Wealth Management Americas’ balance sheet items that mutually offset interest rate risk. Banking book interest rate exposure in the Investment Bank arises predominantly from the business of Corporate Client Solutions, where transactions are subject to approval on a case-by-case basis. Corporate Center – Non-core and Legacy Portfolio assets that are classified as lo ans and receivables, and certain other debt securities held as loans and receivables, also give rise to non-trading interest rate risk. |
Value-at-risk | Actual realized market risk losses may differ from those implied by our VaR for a variety of reasons. The VaR measure is calibrated to a specified level of confidence and may not indicate potential losses beyond this confidence level. The one-day time horizon used for VaR for internal management purposes, or 10-day in the case of the regulatory VaR measure, may not fully capture the market risk of positions that cannot be closed out or hedged within the specified period. In certain cases, VaR calculations approximate the impact of changes in risk factors on the values of positions and portfolios. This may happen because the number of risk factors included in the VaR model is necessarily limited. The effect of extreme market movements is subject to estimation errors, which may result from non-linear risk sensitivities, as well as the potential for actual volatility and correlation levels to differ from assumptions implicit in the VaR calculations. The use of a five-year window means that sudden increases in market volatility will tend not to increase VaR as quickly as the use of shorter historical observation periods, but the increase will affect our VaR for a longer period of time. Similarly, following a period of increased volatility, as markets stabilize, VaR predictions will remain more conservative for a period of time influenced by the length of the historical observation period. SVaR is subject to the same limitations as noted for VaR above, but the use of one-year data sets avoids the smoothing effect of the five-year data set used for VaR, and the absence of the five-year window provides for a longer history of potential loss events. Therefore, although the significant period of stress during the financial crisis of 2007–2009 is no longer contained in the historical five-year period used for management and regulatory VaR, SVaR will continue to use this data. This approach is intended to reduce the procyclicality of the regulatory capital requirements for market risks. We recognize that no single measure may encompass the entirety of risks associated with a position or portfolio. Consequently, we employ a suite of various metrics with both overlapping and complementary characteristics in order to create a holistic framework that seeks to ensure material completeness of risk identification and measurement. As a statistical aggregate risk measure, VaR supplements our liquidity-adjusted stress and comprehensive stress testing frameworks. In the fourth quarter of 2017, we went live with a new framework to identify and quantify potential risks that are not fully captured by our VaR model. We refer to these risks as risks-not-in-VaR. This framework is used to underpin these potential risks with regulatory capital, calculated as a multiple of regulatory VaR and stressed VaR. |
Sensitivity Analysis For Each Type Of Market Risk | Management value-at-risk (1-day, 95% confidence, 5 years of historical data) by business division and Corporate Center unit and general market risk type 1 For the year ended 31.12.17 CHF million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 6 4 1 0 Max. 14 12 8 5 6 Average 6 9 6 2 2 31.12.17 4 8 8 3 2 Total management VaR, Group 5 18 11 10 Average (per business division and risk type) Wealth Management 0 0 0 0 0 0 0 0 0 Wealth Management Americas 0 1 1 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 17 9 8 6 7 5 2 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 8 6 4 0 5 2 1 0 CC – Non-core and Legacy Portfolio 3 5 3 3 1 2 2 0 0 Diversification effect 2,3 (8) (6) (1) (6) (4) (1) 0 For the year ended 31.12.16 CHF million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 9 3 1 0 Max. 15 15 6 5 2 Average 5 11 4 3 1 31.12.16 4 11 5 2 1 Total management VaR, Group 8 18 11 11 Average (per business division and risk type) Wealth Management 0 0 0 0 0 0 0 0 0 Wealth Management Americas 0 1 0 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 5 18 9 8 5 8 3 3 1 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 5 9 7 6 0 7 1 1 0 CC – Non-core and Legacy Portfolio 3 5 4 4 0 4 2 1 0 Diversification effect 2,3 (10) (8) 0 (9) (3) (1) 0 1 Statistics at individual levels may not be summed to deduce the corresponding aggregate figures. The minima and maxima for each level may well occur on different days, and likewise, the VaR for each business line or risk type, being driven by the extreme loss tail of the corresponding distribution of simulated profits and losses for that business line or risk type, may well be driven by different days in the historical time series, rendering invalid the simple summation of figures to arrive at the aggregate total. 2 Difference between the sum of the standalone VaR for the business divisions and Corporate Center units and the VaR for the Group as a whole. 3 As the minimum and maximum occur on different days for different business divisions and Corporate Center, it is not meaningful to calculate a portfolio diversification effect. Audited | Interest rate risk in the banking book is not underpinned for capital purposes, but is subject to a regulatory threshold. As of 31 December 2017, the economic-value effect of an adverse parallel shift in interest rates of ±200 basis points on our banking book interest rate risk exposures was significantly below the threshold of 20% of eligible capital recommended by regulators. The interest rate risk sensitivity figures presented in the “Interest rate sensitivity – banki ng book” table on the next page represent the effect of +1, ±100 and ±200-basis-point parallel moves in yield curves on present values of future cash flows, irrespective of accounting treatment. For some portfolios, the +1-basis-point sensitivity has been estimated by dividing the +100-basis-point sensitivity by 100. In the prevailing negative interest rate environment for the Swiss franc in particular, and to a lesser extent for the euro and the Japanese yen, interest rates for Wealth Management and Person al & Corporate Banking client transactions are generally being floored at non-negative levels. Accordingly, for the purposes of this disclosure table, downward moves of 100 / 200 basis points are floored to ensure that the resulting shocked interest rates do not turn negative. The flooring results in non-linear sensitivity behavior. The sensitivity of the banking book to rising rates was approximately nil compared with negative CHF 3.1 million per basis point at prior year-end. This was mainly due to increa sed sensitivity in Corporate Center – Group ALM, reduced negative sensitivity in Wealth Management Americas and, to a lesser extent, a change in the sensitivity in Corporate Center – Non-core and Legacy Portfolio from negative CHF 0.1 million per basis poi nt to positive CHF 0.5 million per basis point. The increased sensitivity in Corporate Center – Group ALM was mainly due to adjustments leading to more-positive sensitivity to interest rates in Swiss francs and a reduction of negative sensitivity in US dol lar interest rates. The reduction in negative interest rate sensitivity within Wealth Management Americas was primarily due to the introduction of a new deposit pricing approach, which resulted in higher deposit interest rate sensitivity, thus providing a larger offset to asset sensitivity. The change in Corporate Center – Non-core and Legacy Portfolio was due to improved capture of risk sensitivities of auction rate securities and auction preferred securities. The sensitivity of the banking book to rising rates includes the interest rate sensitivities arising from debt investments classified as Financial assets available for sale and their associated hedges. The sensitivity of these positions (excluding hedges and excluding investments in funds accounted f or as available for sale) to a 1-basis-point parallel increase in the yields of the respective instruments is approximately negative CHF 2 million , which would be recorded in OCI if such a change occurred. This sensitivity is around CHF 1 million per basis point less than as of 31 December 2016, mainly due to a further reduction in available-for-sale debt securities held in Corporate Center – Group ALM with an associated buildup of debt securities designated at fair value. The sensitivity of the banking book to rising interest rates also includes interest rate sensitivities arising from interest rate swaps designated in cash flow hedges. Fair value gains or losses associated with the effective portion of these hedges are recognized initially in Equity . Wh en the hedged forecast cash flows affect profit or loss, the associated gains or losses on the hedging derivatives are reclassified from Equity to profit or loss. These swaps are predominantly denominated in US dollars, euros, Swiss francs and British poun ds. A 1-basis-point increase of underlying LIBOR curves would have decreased equity by approximately CHF 20 million, excluding adjustments for tax. Interest rate sensitivity – banking book 1 31.12.17 CHF million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (31.8) (31.8) 1.0 97.7 191.2 EUR (142.0) (90.5) 0.2 15.2 31.1 GBP (57.6) (55.4) 0.1 11.2 21.3 USD 26.6 14.4 (1.3) (135.1) (280.6) Other 4.4 0.8 0.0 5.0 10.3 Total effect on fair value of interest rate-sensitive banking book positions (200.4) (162.5) 0.0 (6.0) (26.7) of which: Wealth Management Americas 144.8 59.1 (1.8) (175.5) (362.3) of which: Investment Bank 32.9 18.3 (0.2) (15.4) (30.8) of which: CC – Group ALM (272.4) (188.1) 1.4 138.6 279.8 of which: CC – Non-core and Legacy Portfolio (106.2) (52.1) 0.5 46.6 87.3 31.12.16 CHF million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (13.0) (13.0) 0.5 44.8 89.3 EUR (109.0) (91.9) 0.0 (2.5) (2.6) GBP (184.5) (103.0) (0.1) (9.9) (27.7) USD 823.2 358.9 (3.4) (347.2) (704.3) Other 0.5 (1.7) 0.0 (3.3) (6.3) Total effect on fair value of interest rate-sensitive banking book positions 517.1 149.4 (3.1) (318.1) (651.6) of which: Wealth Management Americas 730.5 325.8 (2.9) (286.4) (583.8) of which: Investment Bank 26.3 14.3 (0.1) (12.7) (25.9) of which: CC – Group ALM (238.8) (192.3) 0.0 (10.6) (24.2) of which: CC – Non-core and Legacy Portfolio (1.2) 1.2 (0.1) (7.3) (15.6) 1 Does not include interest rate sensitivities for credit valuation adjustments on monoline credit protection, US and non-US reference-linked notes. Audited | Under International Financial Reporting Standards (IFRS) effective on 31 December 2 017, equity investments not in the trading book may be classified as Financial assets available for sale , Financial assets designated at fair value or Investments in associates . The fair value of equity investments tends to be influenced by factors specific to the individual investments. Equity investments are generally intended to be held for the medium or long term and may be subject to lockup agreements. For these reasons, we generally do not control these exposures by using the market risk measures applied to trading activities. However, such equity investments are su bject to a different range of controls, including preapproval of new investments by busi ness management and Risk Control, portfolio and concentration limits, and regular monitoring and reporting to senior management. They are also included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. A s of 31 December 2017 , we held equity investments totaling CHF 1.6 billion, of which CHF 0.5 billion were classified as Financial assets available for sale and CHF 1.0 billion as Investments in associates . This was broadly unchanged from the prior year. Audited | Debt investments classified as Financial assets available for sale as of 31 December 2017 were measured at fair value with changes in fair value recorded through Equity , and can broadly be categorized as money market instruments and debt securities primarily held for statutory, regulatory or liquidity reasons. The risk control framework applie d to debt instruments classified as Financial assets available for sale depends on the nature of the instruments and the purpose for which we hold them. Our exposures may be included in market risk limits or be subject to specific monitoring and interest rate sensitivity analysis. They are also included in our Group-wide statistical and stress testin g metrics, which flow into our risk appetite framework. Debt instruments classified as Financial assets available fo r sale had a fair value of CHF 8.1 billion as of 31 De - cember 2017 compared with CHF 15.0 billion as of 31 December 2016 . |
UBS AG | |
MDA Risk Management And Control Market Risk [Line Items] | |
Disclosure Of Market Risk Explanatory | Audited | Main sources of market risk Market risks arise from both our trading and non-tra ding business activities. Trading market risks arise mainly in connection with primary debt and equity underwriting, securities and derivatives trading for market-making and client facilitation within our Investment Bank, as well as the remaining positions within Non-core and Legacy Portfolio and our municipal securities trading business within Wealth Management Americas. Non-trading market risk arises predominantly in the form of interest rate and foreign exchange risks in connection with personal banking and lending in our wealth management businesses, our personal and corporate banking business in Switzerland and the Investment Bank’s lending business, in addition to treasury activities. Corporate Center – Asset and Liability Management (Group ALM) assume s market risks in the process of managing interest rate risk, structural foreign exchange risk and the liquidity and funding profile (including high-quality liquid asset s ) of the Group. Equity and debt investments can also give rise to market risks, as can some aspects of our employee benefits, such as defined benefit pension schemes. Audited | Overview of measurement, monitoring and ma n agement techniques Management VaR measures exposures under the market risk framework. This includes trading market risks and parts of non-trading market risks. Non-trading market risks not included in VaR are covered in the risks controlled by Treasury Risk Control as set out further below. Market risk limits are set for the Group, the business divisions and Corporate Cente r units and at granular levels within the various business lines, reflecting the nature and magnitude of the market risks. Our primary portfolio measures of market risk are liquidity-adjusted stress (LAS) loss and value-at-risk (VaR). Both are common to al l our business divisions and subject to limits that are approved by the Board of Directors (BoD). These measures are complemented by concentration and granular limits for general and specific market risk factors. Our trading businesses are subject to multi ple market risk limits. These limits take into account the extent of market liquidity and volatility, available operational capacity, valuation uncertainty and, for our single-name exposures, the credit quality of issuers. Trading market risks are managed on an integrated basis at a portfolio level. As risk factor sensitivities change due to new transactions, transaction expiries or changes in market levels, risk factors are dynamically rehedged to remain within limits. Accordingly, in the trading portfolio , we do not generally seek to distinguish between specific positions and associated hedges. Issuer risk is controlled by limits applied at the business division level based on jump-to-zero measures, which estimate our maximum default exposure (the loss in the case of a default event assuming zero recovery). Non-trading foreign exchange risks are managed under market risk limits, with the exception of Corporate Center – Group ALM’s management of consolidated capital activity. Our Treasury Risk Control function applies a holistic risk framework, which sets the appetite for treasury-related risk-taking activities across the Group. A key element of the framework is an overarching economic value sensitivity limit, set by the BoD. This limit is linked to th e level of Basel III common equity tier 1 (CET1) capital and takes into account risks arising from interest rates, foreign exchange and credit spreads. In addition, the sensitivity of net interest income to changes in interest rates is monitored against ta rgets set by the Group Chief Executive Officer, in order to analyze the outlook and volatility of net interest income based on market-expected interest rates. Limits are also set by the BoD to balance the impact of foreign exchange movements on our CET1 ca pital and CET1 capital ratio. Non-trading interest rate and foreign exchange risks are included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. Equity and debt investments are subject to a range of ris k controls, including preapproval of new investments by business management and Risk Control and regular monitoring and reporting. They are also included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. Audited | Interest rate risk in the banking book arises from balance sheet positions such as Loans, Due from customers , Debt issued, Financial assets available for sale, Financial assets held to maturity, certain Financial assets and liabilities designated at fair value, derivatives measured at fair value, including derivatives used for cash flow hedge accounting purposes, as well as related funding transactions. These positions may impact Other comprehensive income (OCI) or the income statement, depending on their accounting treatment. Our largest banking book interest rate exposures arise from client deposits and lending products in our wealth management businesses and Personal & Corporate Banking. For Wealth Management and Personal & Corporate Banking, the inheren t interest rate risks are transferred either by means of back-to-back transactions or, in the case of products with no contractual maturity date or direct market-linked rate, by replicating portfolios from the originating business into Corporate Center – G roup ALM, which manages the risks on an integrated basis, allowing for netting interest rate risks across different sources. Any residual interest rate risks in our wealth management businesses and Personal & Corporate Banking that are not transferred to C orporate Center – Group ALM are managed locally and are subject to independent monitoring and control by local risk control units as well as centrally by Market Risk Control. To manage the interest rate risk centrally, Corporate Center – Group ALM uses der ivative instruments, most of which are in designated hedge accounting relationships. A significant amount of interest rate risk also arises from Corporate Center – Group ALM financing and investing activities, such as the investment and refinancing of non- monetary corporate balance sheet items with indefinite maturities, including equity, goodwill and real estate. For these items, senior management has defined specific target durations as a basis for our funding and investment activities, as applicable. The se targets are defined by replication portfolios, which establish rolling benchmarks to execute against. As of 31 December 2017, the target replication portfolios for equity, goodwill and real estate were defined as follows: in Swiss francs with an average duration of approximately two years and fair value sensitivity of CHF 5 million per basis point; in US dollars with an average duration of approximately five years and a sensitivity of CHF 11 million per basis point. Corporate Center – Group ALM also main tains a portfolio of debt investments to meet the Group’s liquidity needs. Interest rate risk within Wealth Management Americas arises from the business division’s portfolio of available-for-sale assets, in addition to its lending and deposit products offe red to clients. This interest rate risk is closely measured, monitored and managed within approved risk limits and controls, taking into account Wealth Management Americas’ balance sheet items that mutually offset interest rate risk. Banking book interest rate exposure in the Investment Bank arises predominantly from the business of Corporate Client Solutions, where transactions are subject to approval on a case-by-case basis. Corporate Center – Non-core and Legacy Portfolio assets that are classified as lo ans and receivables, and certain other debt securities held as loans and receivables, also give rise to non-trading interest rate risk. |
Value-at-risk | Actual realized market risk losses may differ from those implied by our VaR for a variety of reasons. The VaR measure is calibrated to a specified level of confidence and may not indicate potential losses beyond this confidence level. The one-day time horizon used for VaR for internal management purposes, or 10-day in the case of the regulatory VaR measure, may not fully capture the market risk of positions that cannot be closed out or hedged within the specified period. In certain cases, VaR calculations approximate the impact of changes in risk factors on the values of positions and portfolios. This may happen because the number of risk factors included in the VaR model is necessarily limited. The effect of extreme market movements is subject to estimation errors, which may result from non-linear risk sensitivities, as well as the potential for actual volatility and correlation levels to differ from assumptions implicit in the VaR calculations. The use of a five-year window means that sudden increases in market volatility will tend not to increase VaR as quickly as the use of shorter historical observation periods, but the increase will affect our VaR for a longer period of time. Similarly, following a period of increased volatility, as markets stabilize, VaR predictions will remain more conservative for a period of time influenced by the length of the historical observation period. SVaR is subject to the same limitations as noted for VaR above, but the use of one-year data sets avoids the smoothing effect of the five-year data set used for VaR, and the absence of the five-year window provides for a longer history of potential loss events. Therefore, although the significant period of stress during the financial crisis of 2007–2009 is no longer contained in the historical five-year period used for management and regulatory VaR, SVaR will continue to use this data. This approach is intended to reduce the procyclicality of the regulatory capital requirements for market risks. We recognize that no single measure may encompass the entirety of risks associated with a position or portfolio. Consequently, we employ a suite of various metrics with both overlapping and complementary characteristics in order to create a holistic framework that seeks to ensure material completeness of risk identification and measurement. As a statistical aggregate risk measure, VaR supplements our liquidity-adjusted stress and comprehensive stress testing frameworks. In the fourth quarter of 2017, we went live with a new framework to identify and quantify potential risks that are not fully captured by our VaR model. We refer to these risks as risks-not-in-VaR. This framework is used to underpin these potential risks with regulatory capital, calculated as a multiple of regulatory VaR and stressed VaR. |
Sensitivity Analysis For Each Type Of Market Risk | Management value-at-risk (1-day, 95% confidence, 5 years of historical data) by business division and Corporate Center unit and general market risk type 1 For the year ended 31.12.17 CHF million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 6 4 1 0 Max. 14 12 8 5 6 Average 6 9 6 2 2 31.12.17 4 8 8 3 2 Total management VaR, Group 5 18 11 10 Average (per business division and risk type) Wealth Management 0 0 0 0 0 0 0 0 0 Wealth Management Americas 0 1 1 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 17 9 8 6 7 5 2 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 8 6 4 0 5 2 1 0 CC – Non-core and Legacy Portfolio 3 5 3 3 1 2 2 0 0 Diversification effect 2,3 (8) (6) (1) (6) (4) (1) 0 For the year ended 31.12.16 CHF million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 9 3 1 0 Max. 15 15 6 5 2 Average 5 11 4 3 1 31.12.16 4 11 5 2 1 Total management VaR, Group 8 18 11 11 Average (per business division and risk type) Wealth Management 0 0 0 0 0 0 0 0 0 Wealth Management Americas 0 1 0 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 5 18 9 8 5 8 3 3 1 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 5 9 7 6 0 7 1 1 0 CC – Non-core and Legacy Portfolio 3 5 4 4 0 4 2 1 0 Diversification effect 2,3 (10) (8) 0 (9) (3) (1) 0 1 Statistics at individual levels may not be summed to deduce the corresponding aggregate figures. The minima and maxima for each level may well occur on different days, and likewise, the VaR for each business line or risk type, being driven by the extreme loss tail of the corresponding distribution of simulated profits and losses for that business line or risk type, may well be driven by different days in the historical time series, rendering invalid the simple summation of figures to arrive at the aggregate total. 2 Difference between the sum of the standalone VaR for the business divisions and Corporate Center units and the VaR for the Group as a whole. 3 As the minimum and maximum occur on different days for different business divisions and Corporate Center, it is not meaningful to calculate a portfolio diversification effect. Audited | Interest rate risk in the banking book is not underpinned for capital purposes, but is subject to a regulatory threshold. As of 31 December 2017, the economic-value effect of an adverse parallel shift in interest rates of ±200 basis points on our banking book interest rate risk exposures was significantly below the threshold of 20% of eligible capital recommended by regulators. The interest rate risk sensitivity figures presented in the “Interest rate sensitivity – banki ng book” table on the next page represent the effect of +1, ±100 and ±200-basis-point parallel moves in yield curves on present values of future cash flows, irrespective of accounting treatment. For some portfolios, the +1-basis-point sensitivity has been estimated by dividing the +100-basis-point sensitivity by 100. In the prevailing negative interest rate environment for the Swiss franc in particular, and to a lesser extent for the euro and the Japanese yen, interest rates for Wealth Management and Person al & Corporate Banking client transactions are generally being floored at non-negative levels. Accordingly, for the purposes of this disclosure table, downward moves of 100 / 200 basis points are floored to ensure that the resulting shocked interest rates do not turn negative. The flooring results in non-linear sensitivity behavior. The sensitivity of the banking book to rising rates was approximately nil compared with negative CHF 3.1 million per basis point at prior year-end. This was mainly due to increa sed sensitivity in Corporate Center – Group ALM, reduced negative sensitivity in Wealth Management Americas and, to a lesser extent, a change in the sensitivity in Corporate Center – Non-core and Legacy Portfolio from negative CHF 0.1 million per basis poi nt to positive CHF 0.5 million per basis point. The increased sensitivity in Corporate Center – Group ALM was mainly due to adjustments leading to more-positive sensitivity to interest rates in Swiss francs and a reduction of negative sensitivity in US dol lar interest rates. The reduction in negative interest rate sensitivity within Wealth Management Americas was primarily due to the introduction of a new deposit pricing approach, which resulted in higher deposit interest rate sensitivity, thus providing a larger offset to asset sensitivity. The change in Corporate Center – Non-core and Legacy Portfolio was due to improved capture of risk sensitivities of auction rate securities and auction preferred securities. The sensitivity of the banking book to rising rates includes the interest rate sensitivities arising from debt investments classified as Financial assets available for sale and their associated hedges. The sensitivity of these positions (excluding hedges and excluding investments in funds accounted f or as available for sale) to a 1-basis-point parallel increase in the yields of the respective instruments is approximately negative CHF 2 million , which would be recorded in OCI if such a change occurred. This sensitivity is around CHF 1 million per basis point less than as of 31 December 2016, mainly due to a further reduction in available-for-sale debt securities held in Corporate Center – Group ALM with an associated buildup of debt securities designated at fair value. The sensitivity of the banking book to rising interest rates also includes interest rate sensitivities arising from interest rate swaps designated in cash flow hedges. Fair value gains or losses associated with the effective portion of these hedges are recognized initially in Equity . Wh en the hedged forecast cash flows affect profit or loss, the associated gains or losses on the hedging derivatives are reclassified from Equity to profit or loss. These swaps are predominantly denominated in US dollars, euros, Swiss francs and British poun ds. A 1-basis-point increase of underlying LIBOR curves would have decreased equity by approximately CHF 20 million, excluding adjustments for tax. Interest rate sensitivity – banking book 1 31.12.17 CHF million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (31.8) (31.8) 1.0 97.7 191.2 EUR (142.0) (90.5) 0.2 15.2 31.1 GBP (57.6) (55.4) 0.1 11.2 21.3 USD 26.6 14.4 (1.3) (135.1) (280.6) Other 4.4 0.8 0.0 5.0 10.3 Total effect on fair value of interest rate-sensitive banking book positions (200.4) (162.5) 0.0 (6.0) (26.7) of which: Wealth Management Americas 144.8 59.1 (1.8) (175.5) (362.3) of which: Investment Bank 32.9 18.3 (0.2) (15.4) (30.8) of which: CC – Group ALM (272.4) (188.1) 1.4 138.6 279.8 of which: CC – Non-core and Legacy Portfolio (106.2) (52.1) 0.5 46.6 87.3 31.12.16 CHF million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (13.0) (13.0) 0.5 44.8 89.3 EUR (109.0) (91.9) 0.0 (2.5) (2.6) GBP (184.5) (103.0) (0.1) (9.9) (27.7) USD 823.2 358.9 (3.4) (347.2) (704.3) Other 0.5 (1.7) 0.0 (3.3) (6.3) Total effect on fair value of interest rate-sensitive banking book positions 517.1 149.4 (3.1) (318.1) (651.6) of which: Wealth Management Americas 730.5 325.8 (2.9) (286.4) (583.8) of which: Investment Bank 26.3 14.3 (0.1) (12.7) (25.9) of which: CC – Group ALM (238.8) (192.3) 0.0 (10.6) (24.2) of which: CC – Non-core and Legacy Portfolio (1.2) 1.2 (0.1) (7.3) (15.6) 1 Does not include interest rate sensitivities for credit valuation adjustments on monoline credit protection, US and non-US reference-linked notes. Audited | Under International Financial Reporting Standards (IFRS) effective on 31 December 2 017, equity investments not in the trading book may be classified as Financial assets available for sale , Financial assets designated at fair value or Investments in associates . The fair value of equity investments tends to be influenced by factors specific to the individual investments. Equity investments are generally intended to be held for the medium or long term and may be subject to lockup agreements. For these reasons, we generally do not control these exposures by using the market risk measures applied to trading activities. However, such equity investments are su bject to a different range of controls, including preapproval of new investments by busi ness management and Risk Control, portfolio and concentration limits, and regular monitoring and reporting to senior management. They are also included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. A s of 31 December 2017 , we held equity investments totaling CHF 1.6 billion, of which CHF 0.5 billion were classified as Financial assets available for sale and CHF 1.0 billion as Investments in associates . This was broadly unchanged from the prior year. Audited | Debt investments classified as Financial assets available for sale as of 31 December 2017 were measured at fair value with changes in fair value recorded through Equity , and can broadly be categorized as money market instruments and debt securities primarily held for statutory, regulatory or liquidity reasons. The risk control framework applie d to debt instruments classified as Financial assets available for sale depends on the nature of the instruments and the purpose for which we hold them. Our exposures may be included in market risk limits or be subject to specific monitoring and interest rate sensitivity analysis. They are also included in our Group-wide statistical and stress testin g metrics, which flow into our risk appetite framework. Debt instruments classified as Financial assets available fo r sale had a fair value of CHF 8.1 billion as of 31 De - cember 2017 compared with CHF 15.0 billion as of 31 December 2016 . |
MD&A - Risk management and co62
MD&A - Risk management and control - Treasury Management | 12 Months Ended |
Dec. 31, 2017 | |
MDA Risk Management And Control Treasury Management [Line Items] | |
Description Of Managing Liquidity Risk | Audited | We manage our balance sheet, liquidity and funding positions with the overall objective of optimizing the value of our business franchise across a broad range of market conditions and in consideration of current and future regulatory constraints. We employ a number of measures to monitor these positions under normal and stressed conditions. In particular, we use stress scenarios to apply behavioral adjustments to our balance sheet and calibrate the results from these internal stress models with external measures, primarily the l iquidity coverage ratio (LCR) and the net stable funding ratio (NSFR). Our liquidity and funding strategy is proposed by Group Treasury, approved by the Group Asset and Liability Management Committee (Group ALCO), which is a committee of the Group Executiv e Board , and is overseen by the Risk Committee of the Board of Directors (BoD). Audited | Liquidity and funding limits and targets are set at a Group and , where appropriate, at legal entity and business division level s , and are reviewed and reconfirmed a t least once a year by the BoD, the Group ALCO, the Group Chief Financial Officer, the Group Treasurer and the business divisions, taking into consideration current and projected business strategy and risk tolerance. The principles underlying our limit and target framework are designed to maximize and sustain the value of our business franchise and maintain an appropriate balance in the asset and liability structure. Structural limits and targets focus on the structure and composition of the balance sheet, while supplementary limits and targets are designed to drive the utilization, diversification and allocation of funding resources. To complement and support this framework, Group Treasury monitors the markets with a dashboard of early warning indicators re flecting the current liquidity situation. The liquidity status indicators are used at Group level to assess both the overall global and regional situations for potential threats. Treasury Risk Control provides independent oversight over liquidity and fundi ng risks. Audited | Our liquidity risk management aims to maintain a sound liquidity position to meet all our liabilities when due and to provide adequate time and financial flexibility to respond to a firm-specific liquidity crisis in a generally stressed market environment, without incurring unacceptable losses or risking sustained damage to our various businesses. Audited | We perform stress testing to determine the optimal asset and liability structure that allows us to maintain an appropriately balanced liquidity and funding position under various scenarios. Liquidity crisis scenario analysis and contingency funding planning support the liquidity management process and ensure that immediate corrective measures to absorb potential su dden liquidity shortfalls can be put into effect. Audited | Our Group contingency funding plan is an integral part of our global crisis management framework , which covers various types of crisis events. This contingency funding plan contains an assessment of contingent funding sources in a stres sed environment, liquidity status indicators and metrics, and contingency procedures. Our funding diversification and global scope help protect our liquidity position in the event of a crisis. We regularly assess and test all material, known and expected c ash flows, as well as the level and availability of high-grade collateral that could be used to raise additional funding if required. Our contingent funding sources include our HQLA portfolio, available and unutilized liquidity facilities at several major central banks, and contingent reductions of liquid trading portfolio assets. Audited | Group Treasury regularly monitors our funding status, including concentration risks, to ensure we maintain a well-balanced and diversified liability structure. Our funding risk management aims for the optimal asset and liability structure to finance our businesses reliably and cost-efficiently , and o ur funding activiti es are planned by analyzing the overall liquidity and funding profile of our balance sheet, taking into account the amount of stable funding that would be needed to support ongoing business activities through periods of difficult market conditions. |
UBS AG | |
MDA Risk Management And Control Treasury Management [Line Items] | |
Description Of Managing Liquidity Risk | Audited | We manage our balance sheet, liquidity and funding positions with the overall objective of optimizing the value of our business franchise across a broad range of market conditions and in consideration of current and future regulatory constraints. We employ a number of measures to monitor these positions under normal and stressed conditions. In particular, we use stress scenarios to apply behavioral adjustments to our balance sheet and calibrate the results from these internal stress models with external measures, primarily the l iquidity coverage ratio (LCR) and the net stable funding ratio (NSFR). Our liquidity and funding strategy is proposed by Group Treasury, approved by the Group Asset and Liability Management Committee (Group ALCO), which is a committee of the Group Executiv e Board , and is overseen by the Risk Committee of the Board of Directors (BoD). Audited | Liquidity and funding limits and targets are set at a Group and , where appropriate, at legal entity and business division level s , and are reviewed and reconfirmed a t least once a year by the BoD, the Group ALCO, the Group Chief Financial Officer, the Group Treasurer and the business divisions, taking into consideration current and projected business strategy and risk tolerance. The principles underlying our limit and target framework are designed to maximize and sustain the value of our business franchise and maintain an appropriate balance in the asset and liability structure. Structural limits and targets focus on the structure and composition of the balance sheet, while supplementary limits and targets are designed to drive the utilization, diversification and allocation of funding resources. To complement and support this framework, Group Treasury monitors the markets with a dashboard of early warning indicators re flecting the current liquidity situation. The liquidity status indicators are used at Group level to assess both the overall global and regional situations for potential threats. Treasury Risk Control provides independent oversight over liquidity and fundi ng risks. Audited | Our liquidity risk management aims to maintain a sound liquidity position to meet all our liabilities when due and to provide adequate time and financial flexibility to respond to a firm-specific liquidity crisis in a generally stressed market environment, without incurring unacceptable losses or risking sustained damage to our various businesses. Audited | We perform stress testing to determine the optimal asset and liability structure that allows us to maintain an appropriately balanced liquidity and funding position under various scenarios. Liquidity crisis scenario analysis and contingency funding planning support the liquidity management process and ensure that immediate corrective measures to absorb potential su dden liquidity shortfalls can be put into effect. Audited | Group Treasury regularly monitors our funding status, including concentration risks, to ensure we maintain a well-balanced and diversified liability structure. Our funding risk management aims for the optimal asset and liability structure to finance our businesses reliably and cost-efficiently , and o ur funding activiti es are planned by analyzing the overall liquidity and funding profile of our balance sheet, taking into account the amount of stable funding that would be needed to support ongoing business activities through periods of difficult market conditions. |
MD&A - Capital management
MD&A - Capital management | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure MDA Capital Management [Line Items] | |
Disclosure Of Objectives Policies And Processes For Managing Capital Explanatory | Audited | An adequate level of total loss-absorbing capacity (TLAC) in accordance with both our internal assessment and regulatory requirements is a prerequisite to conducting our business activities. Audited | We manage our balan ce sheet, RWA, LRD and TLAC ratio levels within our internal limits and targets and on the b asis of our regulatory TLAC requirements. Our strategic focus is set on achieving an optimal attribution and use of financial resources between our business divisions and Corporate Center, as well as between our legal entities, while remaining within the l imits defined for the Group and allocated to the business divisions by the Board of Directors (BoD). These resource allocations, in turn, affect business plans and earnings projections, which are reflected in our capital plans. The annual strategic plannin g process includes a capital-planning component that is key in defining medium- and longer-term capital targets. It is based on an attribution of Group RWA and LRD internal limits to the business divisions. Limits and targets are established at both the Group and business division levels, and are submitted to the BoD for approval at least annually. In the target-setting process, we take into account the current and potential fut ure TLAC requirements, our aggregate risk exposure in terms of capital-at-risk, the assessment by rating agencies, comparisons with peers and the effect of expected accounting policy changes. Audited | In 2017 , we continued to focus on meeting the Swiss SRB fully applied capital requirements, which will go into effect from 1 January 2020 . Therefore, we executed a series of transactions, including: the issuance of CHF 10.4 billion equivalent of TLAC-elig ible senior unsecured debt the issuance of CHF 0.4 billion of high-trigger loss-absorbing AT1 capital instruments related to DCCP awards granted for the pe r formance year 2017 the call of CHF 2.7 billion equivalent of non-Basel III-compliant t ier 1 and tier 2 capital instru ments . |
Regulatory capital and movement [text block] | Reconciliation of IFRS equity to Swiss SRB common equity tier 1 capital Swiss SRB, including transitional arrangements (phase-in) Swiss SRB as of 1.1.20 (fully applied) CHF million 31.12.17 31.12.16 31.12.17 31.12.16 Total IFRS equity 51,271 54,302 51,271 54,302 Equity attributable to non-controlling interests (57) (682) (57) (682) Deferred tax assets recognized for tax loss carry-forwards 1 (4,637) (5,042) (5,797) (8,403) Deferred tax assets on temporary differences, excess over threshold (489) (741) (857) (1,835) Goodwill, net of tax 1,2 (5,183) (3,959) (6,479) (6,599) Intangible assets, net of tax (214) (241) (214) (241) Compensation-related components (not recognized in net profit) (1,620) (1,589) (1,620) (1,589) Expected losses on advanced internal ratings-based portfolio less general provisions (634) (356) (634) (356) Unrealized (gains) / losses from cash flow hedges, net of tax (351) (972) (351) (972) Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values 133 (294) 133 (294) Unrealized gains related to financial assets available for sale, net of tax (193) (262) (193) (262) Prudential valuation adjustments (59) (68) (59) (68) Consolidation scope (44) (129) (44) (129) Accruals for proposed dividends to shareholders (2,438) (2,250) (2,438) (2,250) Other 10 71 10 71 Total common equity tier 1 capital 35,494 37,788 32,671 30,693 1 As of 31 December 2017, the phase-in deduction applied was 80%; as of 31 December 2016, the phase-in deduction applied was 60%. 2 Includes goodwill related to significant investments in financial institutions of CHF 350 million (31 December 2016: CHF 342 million). Audited | Our CET1 capital mainly consists of share capital, share premium, which primarily consists of additional paid-in capital related to shares issued, and retained earnings. A detailed reconciliation of IFRS equity to CET1 capital is provided in the “Reconciliation of IFRS equity to Swiss SRB common equity tier 1 capital” table. O ur fully applied CET1 capital increased by CHF 2. 0 billion to CHF 32. 7 billion as of 31 December 2017 , mainly as a result of operating profit before tax, partly offset by accruals for capital returns to shareholders. Our loss-absorbing additional tier 1 capital rem ained at CHF 9.2 billion, unchanged from 31 December 2016, as a CHF 0.4 billion increase related to Deferred Contingent Capital Plan (DCCP) awards granted for the performance year 2017 was offset by currency effects. Audited | Our fully applied total gone concern loss-absorbing capacity increased by CHF 7.1 billion to CHF 36.4 billion as of 31 December 2017, including CHF 27.2 billion of TLAC-eligible senior unsecured debt. |
UBS AG | |
Disclosure MDA Capital Management [Line Items] | |
Disclosure Of Objectives Policies And Processes For Managing Capital Explanatory | Audited | An adequate level of total loss-absorbing capacity (TLAC) in accordance with both our internal assessment and regulatory requirements is a prerequisite to conducting our business activities. Audited | We manage our balan ce sheet, RWA, LRD and TLAC ratio levels within our internal limits and targets and on the b asis of our regulatory TLAC requirements. Our strategic focus is set on achieving an optimal attribution and use of financial resources between our business divisions and Corporate Center, as well as between our legal entities, while remaining within the l imits defined for the Group and allocated to the business divisions by the Board of Directors (BoD). These resource allocations, in turn, affect business plans and earnings projections, which are reflected in our capital plans. The annual strategic plannin g process includes a capital-planning component that is key in defining medium- and longer-term capital targets. It is based on an attribution of Group RWA and LRD internal limits to the business divisions. Limits and targets are established at both the Group and business division levels, and are submitted to the BoD for approval at least annually. In the target-setting process, we take into account the current and potential fut ure TLAC requirements, our aggregate risk exposure in terms of capital-at-risk, the assessment by rating agencies, comparisons with peers and the effect of expected accounting policy changes. Audited | In 2017 , we continued to focus on meeting the Swiss SRB fully applied capital requirements, which will go into effect from 1 January 2020 . Therefore, we executed a series of transactions, including: the issuance of CHF 10.4 billion equivalent of TLAC-elig ible senior unsecured debt the issuance of CHF 0.4 billion of high-trigger loss-absorbing AT1 capital instruments related to DCCP awards granted for the pe r formance year 2017 the call of CHF 2.7 billion equivalent of non-Basel III-compliant t ier 1 and tier 2 capital instru ments . |
Regulatory capital and movement [text block] | Reconciliation of IFRS equity to Swiss SRB common equity tier 1 capital (UBS Group AG vs UBS AG consolidated) As of 31.12.17 Swiss SRB, including transitional arrangements (phase-in) Swiss SRB as of 1.1.20 (fully applied) CHF million UBS Group AG (consolidated) UBS AG (consolidated) Differences UBS Group AG (consolidated) UBS AG (consolidated) Differences Total IFRS equity 51,271 50,775 496 51,271 50,775 496 Equity attributable to preferred noteholders and non-controlling interests (57) (57) 0 (57) (57) 0 Deferred tax assets recognized for tax loss carry-forwards (4,637) (4,637) 0 (5,797) (5,797) 0 Deferred tax assets on temporary differences, excess over threshold (489) (403) (86) (857) (749) (108) Goodwill, net of tax (5,183) (5,183) 0 (6,479) (6,479) 0 Intangible assets, net of tax (214) (214) 0 (214) (214) 0 Compensation-related components (not recognized in net profit) (1,620) (1,620) (1,620) (1,620) Expected losses on advanced internal ratings-based portfolio less general provisions (634) (634) 0 (634) (634) 0 Unrealized (gains) / losses from cash flow hedges, net of tax (351) (351) 0 (351) (351) 0 Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values 133 133 0 133 133 0 Unrealized gains related to financial assets available for sale, net of tax (193) (193) 0 (193) (193) 0 Prudential valuation adjustments (59) (59) 0 (59) (59) 0 Consolidation scope (44) (44) 0 (44) (44) 0 Accruals for proposed dividends to shareholders (2,438) (3,065) 627 (2,438) (3,065) 627 Other 10 (26) 36 10 (26) 36 Total common equity tier 1 capital 35,494 36,042 (548) 32,671 33,240 (569) |
Significant accounting polici64
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Significant Accounting Policies 2 [Line Items] | |
Basis of accounting | Basis of accounting The Financial Statements have been prepared in accordance with International Financial Reporting Standards ( IFRS ) , as issued by the International Accounting Standards Board (IASB), and are pre sented in Swiss francs (CHF), which is also the functional currency of UBS Group AG and of UBS AG’s Head Office and its Swiss-based operations . Disclosures provided in the “Risk, treasury and capital management” section of this report that are marked as a udited form an integral part of the Financial Statements. These disclosures relate to requirements under IFRS 7, Financial Instruments: Disclosures and IAS 1, Presentation of Financial Statements and are not repeated in this section. The accounting policies described in this Note have been applied consistently in all years presented unless otherwise stated in Note 1b. |
Critical accounting estimates and judgments | Critical accounting estimates and judgments Preparation of these Financial Statements under IFRS requires management to apply judgmen t and make estimates and assumptions that affect reported amounts of assets, liabilities, income and expenses and disclosure of contingent assets and liabilities, and may involve significant uncertainty at the time they are made. Such estimates and assumpt ions are based on the best available information. UBS regularly reassesses the estimates and assumptions, which encompass historical experience, expectations of the future and other pertinent factors, to determine their continuing relevance based on curren t conditions and it updates them as necessary. Changes in those estimates and assumptions may have a significant impact on the Financial Statements. Further, actual results may differ significantly from UBS’s estimates, which could result in significant lo ss to the Group, beyond what it anticipated or provided for. The following areas contain estimation uncertainty or require critical judgment and have a significant effect on the amounts recognized in the Financial Statements: fair value of financial inst ruments (refer to item 3f in this Note and to Note 22) allowances and provisions for credit losses (refer to item 3g in this Note and to Note 11) pension and other post-employment benefit plans (refer to item 7 in this Note and to Note 26) income taxes ( refer to item 8 in this Note and to Note 8 ) goodwill (refer to item 11 in this Note and to Note 15) provisions and contingent liabilities (refer to item 12 in this Note and to Note 20) consolidation of structured entities (refer to item 1 in this Note and to Note 28) . |
Consolidation Structured entities | 1) Consolidation a. Consolidation principles The Financial Statements comprise the financial statements of the parent company (UBS Group AG) and its subsidiaries, presented as a single economic entity, whereby intercompany transactions and ba lances have been eliminated. UBS consolidates all entities that it controls, including controlled structured entities (SEs), which is the case when it has (i) power over the relevant activities of the entity, (ii) exposure to an entity ‘s variable returns a nd (iii) the ability to use its power to affect its own returns. Where an entity is governed by voting rights, control is generally indicated by a direct shareholding of more than one-half of the voting rights. In other cases, the assessment of control is more complex and requires greater use of judgment. Where UBS has an interest in an entity that absorbs variability, UBS considers wheth er it has power over the relevant activities of the entity that allows it to affect the variability of its returns. Consideration is given to all facts and circumstances to determine whether the Group has power over another entity ; that is, the current abi lity to direct the relevant activities of an entity when decisions about those activities need to be made. Factors such as the purpose and design of the entity, rights held through contractual arrangements , such as call rights, put rights or liquidation ri ghts, as well as potential decision-making rights are all considered in this assessment. Where the Group has power over the relevant activities, a further assessment is made to determine whether, through that power, it has the ability to affect its own ret urns by assessing whether power is held in a principal or agent capacity. Consideration is given to (i) the scope of decision-making authority, (ii) rights held by other parties, including removal or other participating rights, and (iii) exposure to variab ility, including remuneration, relative to total variability of the entity as well as whether that exposure is different from that of other investors. If, after review of these factors, UBS concludes that it can exercise its power to affect its own returns , the entity is consolidated. Subsidiaries, including SEs, are consolidated from the date when control is obtained and are deconsolidated from the date when control ceases. Control, or the lack thereof, is reassessed if facts and circumstances indicate that there is a change to one or more of the elements required to establish that control is present. Refer to Note 28 for more information b. Structured entities UBS sponsors the formation of SEs and interacts with non-sponsored SEs for a variety of reasons, including allowing clients to obtain or be exposed to particular risk profiles, to provide funding or to sell or purchase credit risk. An SE is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Such entiti es generally have a narrow and well-defined objective and include those historically referred to as special purpose entities , as well as some investment funds. UBS assesses whether an entity is an SE by considering the nature of the activities of the entit y as well as the substance of voting or similar rights afforded to other parties, including investors and independent boards or directors. UBS considers rights such as the ability to liquidate the entity or remove the decision maker to be similar to voting rights when the holder has the substantive ability to exercise such rights without cause. In the absence of such rights or in cases where the existence of such rights cannot be fully established, the entity is considered to be an SE. The classes of SEs with which UBS is involved include: Securitization structured entities are established to issue securities to investors that are backed by assets held by the SE and whereby (i) significant credit risk associated with the securitized exposures has been tran sferred to third parties and (ii) there is more than one risk position or tranche issued by the securitization vehicle in line with the Basel III securitization definition. All securitization entities are classified as SEs. Client investment structured en tities are established predominantly for clients to invest in specific assets or risk exposures through purchasing notes issued by the SE, predominantly on a fixed-term basis. The SE may source assets via a transfer from UBS or through an external market t ransaction. In some cases, UBS may enter into derivatives with the SE to either align the cash flows of the entity with the investor’s intended investment objective or to introduce other desired risk exposures. In certain cases, UBS may have interests in a third-party-sponsored SE to hedge specific risks or participate in asset-backed financing. Investment fund structured entities have a collective investment objective, are managed by an investment manager and are either passively managed, so that any decis ion making does not have a substantive effect on variability, or are actively managed and investors or their governing bodies do not have substantive voting or similar rights. UBS creates and sponsors a large number of funds in which it may have an interes t through the receipt of variable management fees and / or a direct investment. In addition, UBS has interests in a number of funds created and sponsored by third parties, including exchange-traded funds and hedge funds, to hedge issued structured products . When UBS does not consolidate an SE, but has an interest in an SE or has sponsored an SE, disclosures are provided on the nature of these interests and sponsorship activities. Critical accounting estimates and judgments Each individual entity is asses sed for consolidation in line with the aforementioned consolidation principles. The assessment of control can be complex and requires the use of significant judgment. As the nature and extent of UBS’s involvement are unique to each entity, there is no unif orm consolidation outcome by entity. Certain entities within a class may be consolidated while others may not. Refer to Note 28 for more information |
Segment reporting | 2) Segment reporting As of 31 December 2017, UBS‘s businesses were organized globally into five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank, all of which were supported by Corporate Center. The five business divisions qualify as reportable segments for the purpose of segment reporting and, together with Corporate Center, reflect the management structure of the Group . Corporate Center – No n-core and Legacy Portfolio is managed and reported as a separate reportable segment within Corporate Center. Financial information about the five business divisions and Corporate Center (with its units : Services, Group Asset and Liability Management (Grou p ALM), Non-core and Legacy Portfolio) is presented separately in internal management reports to the Group Executive Board, which is considered the “chief operating decision maker” pursuant to IFRS 8, Operating Segments. UBS’s internal accounting policies, which include management accounting policies and service level agreements, determine the revenues and expenses directly attributable to each reportable segment. Transactions between the reportable segments are carried out at internally agreed rat es and are reflected in the operating results of the reportable segments. Revenue-sharing agreements are used to allocate external client revenues to reportable segments where several reportable segments are involved in the value creation chain. Commission s are credited to the reportable segments based on the corresponding client relationship. Total intersegment revenues for the Group are immaterial, as the majority of the revenues are allocated across the segments by means of revenue-sharing agreements. Ne t interest income is generally allocated to the reportable segments based on their balance sheet positions. Interest income earned from managing UBS’s consolidated equity is allocated to the reportable segments based on average attributed equity. Assets an d liabilities of the reportable segments are funded through and invested with Corporate Center – Group ALM, and the net interest margin is reflected in the results of each reportable segment. Segment assets are based on a third-party view and do not includ e intercompany balances. This view is in line with internal reporting to the Group Executive Board. Certain assets managed centrally by Corporate Center – Services and Corporate Center – Group ALM may be allocated to other segments on a basis different to that on which the corresponding costs or revenues are allocated. For example, certain assets that are reported in Corporate Center – Services or Corporate Center – Group ALM may be retained on the balance sheet of these components of Corporate Center notwi thstanding that the costs or revenues associated with these assets may be entirely or partly allocated to the segments. Similarly, certain assets are reported in the business divisions, whereas the corresponding costs or revenues are entirely or partly all ocated to Corporate Center – Services and Corporate Center – Group ALM. Non-current assets disclosed for segment reporting purposes represent assets that are expected to be recovered more than twelve months after the reporting date, excluding financial ins truments, deferred tax assets, post-employment benefits and rights arising under insurance contracts. Refer to Note s 1c and 2 for more information |
Financial instruments | 3) Financial instruments a. Recognition UBS recognizes financial instruments when it becomes a party to the c ontractual provisions of the instrument. UBS applies settlement date accounting to all regular way purchases and sales of financial instruments . In transactions in which UBS acts a s a transferee, to the extent that the transfer of a financial asset does n ot qualify for derecognition by the t ransferor, UBS does not recogniz e the transferred asset as its asset. UBS also acts in a fiduciary capacity, which results in the holding or placing of assets on behalf of individuals, trusts, retirement benefit plans a nd other institutions. Unless the recognition criteria are satisfied, these assets are not recognized on UBS’s balance sheet. Consequently, the related income is excluded from these Financial Statements. Client cash balances associated with derivatives cl earing and execution services are not recognized on the balance sheet if, through contractual agreement, regulation or practice, the Group neither obtains benefits from nor controls the client cash balances. b. Classification, measurement and presentation U pon initial recognition, UBS records financial instruments at fair value plus , for financial instruments not measured at fair value through profit or loss, directly attributable transaction costs. After initial recognition, UBS classifies, measures and presents its financial assets and liabilities in accordance with IAS 39, Financial Instruments: Recognition and Measurement as described in the following table. Refer to Note 25a for an overview of financial assets and liabilities by IAS 39 c ategory Refer to the balance sheet for references to Notes that provide information on the composition of individual financial asset and liability categories Financial assets classification Significant items included Measurement and presentation Held for trading All derivatives with a positive replacement value, except those that are designated and effective hedging instruments . Any other financial asset acquired principally for the purpose of selling or repurchasing in the near term, or part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of s hort-term profit taking. Included in this category are debt instruments (including those in the form of securities, money market paper and traded corporate and bank loans), equity instruments, and assets held under unit-linked investment contracts. Measure d at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Net trading income, except interest and dividend income on instruments other than derivatives ( refer to item 3c in this Note ), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short duration foreign exchange contracts, which are reported in Net interest income. Derivative assets are generally presented as Positive replacement values. Bifurcated embedded derivatives are measured at fair value, but presented on the same balance sheet line as the host contract measured at amo rtized cost. The presentation of fair value changes on derivatives that are designated and effective hedging instruments differs depending on the type of hedge relationship (refer to item 3k in this Note for more information). Financial assets h eld for trading (other than derivatives) are presented as Trading portfolio assets. Financial assets designated at fair value through profit or loss are presented as Financial assets designated at fair value . Designated at fair value through profit or loss A financial asset may be designated at fair value through profit or loss only upon initial recognition and this designation is irrevocable. The fair value option can be applied only if one of the following criteria is met: the financial instrument is a hybrid instrument that includes a substantive embedded derivative; the financial instrument is part of a portfolio that is risk managed on a fair value basis and reported to senior management on that basis ; or the application of the fair value option elimi nates or significantly reduces an accounting mismatch that would otherwise arise. UBS designated at fair value through profit or loss the following financial assets : Certain structured loans, reverse repurchase and securities borrowing agreements that are managed on a fair value basis. Loans that are hedged predominantly with credit derivatives. These instruments are designated at fair value to eliminate an accounting mismatch. Certain debt securities held as high-quality liquid assets (HQLA) and managed by Corporate Cent er – Group ALM on a fair value basis. Assets held to hedge delivery obligations related to cash-settled employee compensation plans. These assets are designated at fair value in order to eliminate an accounting mismatch that would otherwise arise due to the liability being measured on a fair value basis. Measure d at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Net trading income, except interest and dividend income on instruments other than derivatives ( refer to item 3c in this Note ), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short duration foreign exchange contracts, which are reported in Net interest income. Derivative assets are generally presented as Positive replacement values. Bifurcated embedded derivatives are measured at fair value, but presented on the same balance sheet line as the host contract measured at amo rtized cost. The presentation of fair value changes on derivatives that are designated and effective hedging instruments differs depending on the type of hedge relationship (refer to item 3k in this Note for more information). Financial assets h eld for trading (other than derivatives) are presented as Trading portfolio assets. Financial assets designated at fair value through profit or loss are presented as Financial assets designated at fair value . Loans and receivables (amortized cost) Non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are not assets for which the Group may not recover substantially all of its initial net investment for reas ons other than credit deterioration. This classification includes: cash and balances with centr al banks cash collateral receivables on derivative instruments residential and commercial mortgages secured loans, including reverse repurchase agreements, receivables under stock borrowing and L ombard loans, and unsecured loans certain securities held within Corporate Center – Non- c ore and Legacy Portfolio trade and l ease receivables . Measured at amortized cost using the effective interest rate method less allowances for credit losses (refer to items 3c and 3g in this Note ). Upfront fees and direct costs relating to loan origination, refinancing or restructuring as well as to loan commitments are deferred and amortized over the life of the loan using the effective interest rate method. Loans and receivables are presented on t he balance sheet primarily as Cash and balances with central banks, Due from banks, Loans, Cash collateral on securities borrowed, Reverse repurchase agreements and Cash collateral receivables on derivative instruments. Amounts arising from e xchange-trade d derivatives (ETD) and certain over-the-counter ( OTC ) derivatives cleared through central clearing counterparties that are either considered to be daily settled or qualify for netting (refer to items 3d and 3j in this Note ) are presented within Cash colla teral receivables on derivative instruments. Financial assets classification Significant items included Measurement and presentation Available for sale Financial assets classified as available for sale are non-derivative financial assets that are not classified as held for trading, designated at fair value through profit or loss, or loans and receivables. This classification mainly includes d ebt securitie s held as HQLA and managed by Corporate Center – Group ALM , certain asset-backed securities managed by Corporate Center – Group ALM , as well as investment fund holdings and strategic and commercial equity investments. Measured at fair value with unrealized gains and losses reported in Other comprehensive income, n et of applicable income taxes, until such investments are sold, collected or otherwise disposed of, or until any such investment is determined to be impaired ( refer to item 3i in this Note). Upon disposal, any accumulated balances in Other comprehensive income are reclassified to the income statement and reported within Other income. Interest and dividend income are recognized in the income statement in accorda nce with item 3c in this Note. Refer to item 13 in this Note for information on the treatment of foreign exchange translation gains and losses. Held to maturity Non-derivative financial assets with fixed or determinable payments and fixed maturities for w hich UBS has the positive inten tion and ab i l ity to hold to maturity. This classification mainly includes debt securities held as HQLA and managed by Corporate Center – Group ALM. Measured at amortized cost using the effective interest rate method less all owances for credit losses (refer to items 3c and 3g in this Note ). Financial liabilities c lassification Significant items included Measurement and presentation Held for trading Obligations to deliver financial instruments, such as debt and equity instruments, that UBS has sold to third parties, but does not own (short positions) . All derivatives with a negative replacement value, except those that are designated and effective hed ging instruments . Measurement of trading liabilities follows the same principles as for held for trading assets , and measurement of liabilities designated at fair value through profit or loss follows the same principles as for assets designated at fair val ue through profit or loss. Presented as Trading portfolio liabilities and Financial liabilities designated at fair value, respectively. Derivative liabilities are generally presented as Negative replacement values. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost . Derivatives that are designated and effective hedging instruments are also measured at fair value. The presentation of fair value cha nges differs depending on the type of hedge relationship ( refer to item 3k in this Note for more information). Amounts due under unit-linked investment contracts are presented as Other liabilities. Designated at fair value through profit or loss UBS designated at fair value through profit or loss the following financial liabilities: Issued hybrid debt instruments that primarily include equity-linked, credit-linked and rates-linked bonds or notes. Issued debt instruments managed on a fair value basis. Loan commitments that are hedged predominantly with credit derivatives and hence eliminate an accounting mismatch. Measurement of trading liabilities follows the same principles as for held for trading assets , and measurement of liabilities designated at fair value through profit or loss follows the same principles as for assets designated at fair val ue through profit or loss. Presented as Trading portfolio liabilities and Financial liabilities designated at fair value, respectively. Derivative liabilities are generally presented as Negative replacement values. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost . Derivatives that are designated and effective hedging instruments are also measured at fair value. The presentation of fair value cha nges differs depending on the type of hedge relationship ( refer to item 3k in this Note for more information). Amounts due under unit-linked investment contracts are presented as Other liabilities. Amortized cost This classification includes: Demand and time deposits, retail savings / deposits, cash collateral on securities lent, non-structured fixed-rate bonds, subordinated debt, certificates of deposit, covered bonds . Cash collateral payables on derivative instruments. Measured at amortized cost using the effective interest rat e method. Amortized cost liabilities are presented on the balance sheet primarily as Due to banks, Due to customers, Cash collateral on securities lent, Repurchase agreements, Cash collateral payables on derivative instruments and Debt issued. Amounts arising from ETD and certain OTC derivatives cleared through central clearing counterparties that are either considered to be daily settled or qualify for netting (refer to items 3d and 3j of this Note ) are presented within Cash collateral payables on derivative inst ruments. e. Securities borrowing / lending and repurchase / reverse repurchase transactions Securities borrowing / lending and repurchase / reverse repurchase transactions are generally entered into on a collateralized basis. In such transactions, UBS typically borrows or lends equity and debt securities in exchange for securities or cash collateral. These transactions are treat ed as collateralized financing transactions where the securities transferred / received are not derecognized or recognized on balance sheet. Securities transferred / received with the right to resell or repledge are disclosed separately. In reverse repurch ase and securities borrowing agreements, the cash delivered is derecognized and a corresponding receivable, including accrued interest, is recorded in the balance sheet lines Reverse repurchase a greements and Cash collateral on securities borrowed, respectively , representing UBS’s right to receive the cash. Similarly, in repurchase and securities lending agreements, the cash received is recognized and a corresponding obligation, including accrued interest, is recorded in the balance sheet lines Repur chase agreements and Cash collateral on securities lent, respectively . Additionally, the sale of securities that is settled by delivering securities received in reverse repurchase or securities borrowing transactions triggers the recognition of a trading l iability. Repurchase and reverse repurchase transactions with the same counterparty, maturity, currency and central securities d epository (CSD) are generally presented net, subject to meeting the netting requirements described in item 3j of this Note . Refe r to Notes 23 and 24 for more information h. Re structured loans A renegotiated or restructured loan is a loan for which the terms have been modified or for which additional collateral has been requested that was not contemplated in the original contract. Typical key features of terms and conditions granted through restructuring to avoid default include special in terest rates , postponement of interest or principal payments, debt / equity swaps, modification of the schedule of repayments, subordination or amendment of loan maturity. There is no change in the EIR following a renegotiation. If a loan is restructured w ith preferential conditions (i.e., new or modified terms and conditions are agreed upon that do not meet the normal market criteria for the quality of the obligor and the type of loan), it is classified as defaulted . It will remain so until the loan is col lected , written off or non-preferential conditions are granted that supersede the preferential conditions . Concessions granted where there is no evidence of financial difficulty, or where any changes to ter ms and conditions are within UBS‘s usual risk appe tite, are not deemed restructured. A restructuring of a loan could lead to a fundamental change in the terms, resulting in the original loan being derecognized and a new loan being recognized. If a loan is derecognized in these circumstances, the new loan is measured at fair value at initial recognition. Any allowance taken to date against the original loan is derecognized and is not attributed to the new loan. Consequently, the new loan is assessed for impairment on an individual basis. If the loan is not impaired, the loan is included within the general collective loan assessment for the purpose of measuring credit losses. m. Financial liabilities Debt issued Debt issued is carried at amortized cost, including contingent capital instruments that contain contractual provisions under which the principal amounts would be written down upon either a specified CET1 ratio breach o r a determination by FINMA that a viability event has occurred. Such contractual provisions are not derivatives as the underlying is deemed to be a non-financial variable specific to a party to the contract. W here there is a legal bail-in mechanism for wri te-down or conversion into equity (as is the case, for instance, with senior unsecured debt issued by the Group that is subject to write-down or conversion under resolution authority granted to FINMA under Swiss law), such mechanism does not form part of t he contractual terms and, therefore, also does not affect the amortized cost accounting treatment applied to these instruments. If the debt were to be written down or converted into equity in a future period, this would result in the full or partial dereco gnition of the financial liabilities, with the difference between the carrying value of the debt written down or converted into equity and the fair value of any equity shares issued recognized in the income statement. In cases where, as part of the Group’s risk management activity, fair value hedge accounting is applied to fixed-rate debt instruments carried at amortized cost, their carrying amount is adjusted for changes in fair value related to the hedged exposure. Refer to item 3k for more information on hedge accounting. Debt issued and subsequently repurchased in relation to market-making or other activities is treated as redeemed. A gain or loss on redemption (depending on whether the repurchase price of the bond is lower or higher than its carrying va lue) is recorded in Other income . A subsequent sale of own bonds in the market is treated as a reissuance of debt. Financial liabilities designated at fair value UBS uses the fair value o ption to designate certain issued debt instruments as financial liab ilities designated at fair value through profit or loss, on the basis that such financial instruments include embedded derivatives and / or are managed on a fair value basis (refer to item 3b in this Note for more information). n. Own credit From 1 January 2016 onward, changes in the fair value of financial liabilities designated at fair value through profit or loss related to own credit are recognized in Other comprehensive income directly within Retained earnings and will not be reclassified to t he incom e statement in future periods. o. Loan commitments Loan commitments are arrangements under which clients can borrow stipulated amounts under defined terms and conditions. Loan commitments that can be canceled at any time by UBS at its discretion a re neither recognized on the balance sheet nor included in off-balance sheet disclosures. Loan commitments that cannot be canceled by UBS once the commitments are communicated to the beneficiary or which are revocable only due to automatic cancelation upo n deterioration in a borrower’s creditworthiness are considered irrevocable and are classified as (i) derivative loan commitments measured at fair value through profit or loss, (ii ) loan commitments designated at fair value through profit or loss or (iii) other loan commitments . Other loan commitments are not recorded on the balance sheet, but a provision is recognized through profit or loss if it is probable that a loss has been incurred and a reliable estimate of the amount of the obligation can be made. Any change in the liability relating to these other loan commitments is recorded in the income statement in Credit loss expense / recovery . When a client draws on a co mmitment, the resulting loan is classified as a (i) t rading asset , consistent with the as sociated derivative loan commitment , (ii) f inancial asset designated at fair value through profit or loss , consistent with the loan commitment designated at fair value through profit or loss or as a (iii) l oan , when the associated loan commitment is accoun t ed for as other loan commitment . |
Interest income and expense | c. Interest income and expense Interest income or expense is determined by reference to a financial instrument ‘s amortized - cost basis calculated using the effective interest rate (EIR) method. UBS also uses this method to determine the interest income and expense for financial instruments (excluding derivatives) measured at fair value through profit or loss . Interest income or expense on financial instruments measured at amortized cost, debt instruments measured at fair value through profit or loss and available-for-sale financial assets are presented within Net interest income. In a dditi on, Net i nterest i ncome includes the int erest income and expense on derivatives designated as hedging instruments in effective hedge relationships and forward points on certain short duration foreign exchange contracts . Upfront fees, including loan commitment fees where a loan is expected to be issued, and direct costs are included within the initial measurement of a financial instrument measured at amortized cost or classified as available for sale. Such fees and costs are therefore recognized over the expected life of the instrument as part of its EIR. Fees related to loan commitments where no loan is expected to be issued, as well as loan syndication fees where UBS does not retain a portion of the syndicated loan or where UBS does retain a portion of the syndicated loan at the same effective yi eld for comparable risk as other participants, are included in Net fee and commission income. Interest income on financial assets, excluding derivatives, is included in Interest income when positive and in Interest expense when negative , because negative interest income arising on a financial asset does not meet the definition of revenue. Similarly, interest expense on financial liabilities, excluding derivatives, is included in Interest expense , except when interest rates are negative, in which case it is included in Interest income. Dividend income on all financial assets is included in Interest income. Refer to item 3k in this Note and Note 3 for more information |
Derecognition of financial instruments | d. Derecognition Financial assets UBS derecognizes a financial asset, or a portion of a financial asset, from its balance sheet where the contractual rights to cash flows from the asset have expired, or have been transferred, usually by sale, thus exposing the purchaser to either substantially all the risks and rewards of the asset or a signi ficant part of the risks and rewards combined with a practical ability to sell or pledge the asset. A financial asset is considered to have been transferred when UBS (i) transfers the contractual rights to receive the cash flows of the financial asset or (ii) retains the contractual rights to receive the cash flows of that asset, but assumes a contractual obligation to pay the cash flows to one or more entities. Where financial assets have been pledged as collateral or in similar arrangements, they are con sidered to have been transferred if the counterparty has received the contractual right to the cash flows of the pledged assets, as may be evidenced, for example, by the counterparty’s right to sell or repledge the assets. Where the counterparty to the ple dged financial assets has not received the contractual right to the cash flows, UBS does not consider this to be a transfer for the purposes of derecognition. UBS enters into certain transactions where it transfers financial assets recognized on its balan ce sheet but retains either all or a portion of the risks and rewards of the transferred financial assets. If all or substantially all of the risks and rewards are retained, the transferred financial assets are not derecognized from the balance sheet; for example, securities lending and repurchase transactions or where financial assets are sold to a third party with a total return swap resulting in UBS retaining all or substantially all of the risks and rewards of the transferred assets. These types of tran sactions are accounted for as secured financing transactions as described in item 3e of this Note . In transactions where substantially all of the risks and rewards of ownership of a financial asset are neither retained nor transferred, UBS derecognizes th e financial asset if control over the asset is surrendered , and the rights and obligations retained following the transfer are recognized separately as assets and liabilities, respectively. In transfers where control over the financial asset is retained, U BS continues to recognize the asset to the extent of its continuing involvement, determined by the extent to which it is exposed to changes in the value of the transferred asset following the transfer. Certain over-the-counter (OTC) derivative contracts a nd most exchange-traded futures and options contracts cleared through central cl earing counterpartie s are considered to be settled on a daily basis through the daily margining process, as the payment or receipt of the variation margin represents legal or e conomic settlement of a derivative contract, which results in derecognition of the associated positive and negative replacement values. Refer to Note 2 4 for more information Financial liabilities UBS derecognizes a financial liability from its balance sheet when it is extinguished, that is, when the obligation specified in the contract is discharged, canceled or has expired. When an exi sting financial liability is exchanged for a new one from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification results in derecognition of the original liabilit y and the recognition of a new liability with any difference in the respective carrying amounts being recognized in the income statement. |
Fair value of financial instruments | f. Fair value of financial instruments UBS accounts for a significant portion of its assets and liabilities at fair value. Fair value is the price on the measurement date that would be received for the sale of an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market, or in the most advantageous market in the absence of a principal market. All financial instruments measured at fair value are categorized into one of three fair value hierarchy levels. Level 1 financial instruments are those for which fair values can be derived from quoted prices in active markets. Level 2 financial instruments are those for which fair values must be derived using valuation techniques for which all significant inputs are, or are based on, observable market data. Level 3 financial instruments are those for which fair values can only be derived on the basis of valuation techniques for which significant inputs are not based on observable market data. Critical accounting estimates and judgments The use of valuation techniques, modeling assumptions and estimates of unobservable market inputs require significant judgment and could affect the amount of gain or loss recorded for a p articular position. Valuation techniques that rely more heavily on unobservable inputs require a higher level of judgment to calculate a fair value than those entirely based on observable inputs. Valuation techniques, including models, that are used to de termine fair values are periodically reviewed and validated by qualified personnel, independent of those who created them. Models are calibrated to ensure that outputs reflect observable market data, to the extent possible. Also, models prioritize the use of observable inputs, when available, over unobservable inputs. Judgment is required in selecting appropriate models as well as inputs for which observable data is less readily or not available. UBS‘s valuation techniques may not fully reflect all the fac tors relevant to the fair value of financial instruments held. Valuations are therefore adjusted, where appropriate, to allow for additional factors, including credit risk, model risk and liquidity risk. UBS‘s governance framework over fair value measureme nt is described in Note 22b. The level of subjectivity and the degree of management judgment involved in the development of estimates and the selection of assumptions are more significant for instruments valued using specialized and sophisticated models a nd where some or all of the parameter inputs are less observable (Level 3 instruments) and may require adjustment to reflect factors that market participants would consider in estimating fair value, such as close-out costs, credit exposure, model-driven va luation uncertainty, funding costs and benefits, trading restrictions and other factor s, whic h are presented in Note 22 d . The Group provides a sensitivity analysis of the estimated effects arising from changing significant unobservable inputs in Level 3 fi nancial instruments to reasonably possible alternative assumptions within Note 22g. Refer to Note 22 for more information |
Impairment of financial assets | g. Allowances and provisions for credit losses A claim is impaired and an allowance or provision for credit losses is recognized when objective evidence demonstrates that a loss event has occurred after the initial recognition and that the loss event has an impact on the future cash flows that can be reliably estimated (incurred loss approach) . UBS considers a claim to be impaired if it will be unable to collect all amounts due on it based on the original contractual terms due to credit deterioration of th e issuer or counterparty. A claim can be a loan or receivable carried at amortized cost, or a commitment, such as a letter of credit, a guarantee or a similar instrument. An allowance for credit losses is reported as a decrease in the carrying value of a financial asset . For an off-balance sheet item, such as a commitment, a provision for credit loss is reported in Provisions . Changes to allowances and provisions for credit losses are recognized in Credit loss expense / recovery . Refer to Notes 10 and 11 f or more information Critical accounting estimates and judgments Allowances and provisions for credit losses are evaluated at both a counterparty-specific level and collectively. Judgment is used in making assumptions about the timing and amount of impairm ent losses. Counterparty-specific allowances and provisions Loans are evaluated individually for impairment if objective evidence indicates that a loan may be impaired. Individual credit exposures are evaluated on the basis of the borrower’s overall financ ial condition, resources and payment record, the prospects of support from contractual guarantors and, where applicable, the realizable value of any collateral. The impairment loss for a loan is the excess of the carrying value of the financial asset over the estimated recoverable amount. The estimated recoverable amount is the present value, calculated using the loan’s original effective interest rate, of expected future cash flows, including amounts that may result from restructuring or the liquidation of collateral. If a loan has a variable interest rate, the discount rate for calculating the recoverable amount is the current effective interest rate. Upon impairment, interest income is accrued by applying the original effective interest rate to the impair ed carrying value of the loan. All impaired loans are reviewed and analyzed at least annually. Any subsequent changes to the amounts and timing of the expected future cash flows compared with prior estimates result in a change in the allowance for credit l osses and are charged or credited to Credit loss expense / recovery . An allowance for impairment is reversed only when the credit quality has improved to such an extent that there is reasonable assurance of timely collection of principal and interest in ac cordance with the original contractual terms of the instrument , or the equivalent value thereof. A write-off is made when all or part of a financial asset is deemed uncollectible or forgiven. Write-offs reduce the principal amount of a claim and are charged against previously established allowances for credit losses . Recoveries, in part or in full, of amounts previously written off are credited to Credit loss expense / recovery. Collective allowances and provisions Collective allowances and p rovisions are calculated for portfolios with similar credit risk characteristics, taking into account historical loss experience and current conditions. The methodology and assumptions used are reviewed regularly to reduce any differences between estimated and actual loss experience. For all of its portfolios, UBS also assesses whether there have been any unforeseen developments that mi ght result in impairments that are not immediately observable at a counterparty level. To determine whether an event-driven collective allowance for credit losses is required, UBS considers global economic drivers to assess the most vulnerable countries and industries. As the allowance cannot be allocated to individual loans, the loans are not considered to be impaired and int erest is accrued on each loan according to its contractual terms. If objective evidence becomes available that indicates that an individual financial asset is impaired, it is removed from the group of financial assets assessed for impairment on a collectiv e basis and is assessed separately as counterparty-specific. i. Impairment of financial assets classified as available for sale At each balance sheet date, UBS assesses whether indicators of impai rment are present. Available-for-sale debt instruments are impaired when there is objective evidence, using the same criteria described in item 3 g, that, as a result of one or more events that occurred after the initial recognition of the asset, the estima ted future cash flows have decreased. Objective evidence that there has been an impairment of an available-for-sale equity instrument is a significant or prolonged decline in the fair value of the asset. UBS uses a rebuttable presumption that such instrum ents are impaired where there has been a decline in fair value of more than 20% below its original cost or fair value has been below original cost for more than six months. To the extent a financial asset classified as available for sale is determined to be impaired, the related cumulative net unrealized loss previously recognized in Other comprehensive income is reclassified to the income statement within Other income . For equity instruments, any further loss is recognized directly in the income statement , whereas for debt instruments, any further loss is recognized in the income statement only if there is additional objective evidence of impairment. After the recognition of an impairment on a financial asset classified as available for sale, increases in the fair value of equity instruments are reported in Other comprehensive income. For debt instruments, such increases in the fair value, up to amortized cost in the transaction currency, are recognized in Other income, provided that the fair value increase is related to an event occurring after the impairment loss was recorded. Increases in excess of that amount are reported in Other comprehensive income . |
Netting | j. Netting UBS nets financial assets and liabilities on its balance sheet if (i) it has the unconditio nal and legally enforceable right to set off the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS and its counterparties, and (ii) intends either to settle on a net basis or to realize t he asset and settle the liability simultaneously. Netted positions include, for example, certain derivatives and repurchase and reverse repurchase transactions with various counterparties, exchanges and clearing houses. In assessing whether UBS intends to either settle on a net bas is, or to realize the asset and settle the liability simultaneously, emphasis is placed on the effectiveness of operational settlement mechanics in eliminating substantially all credit and liquidity exposure between the counterpar ties. This condition precludes offsetting on the balance sheet for substantial amounts of UBS’s financial assets and liabilities, even though they may be subject to enforceable netting arrangements. For OTC derivative contracts, balance sheet offsetting is generally only permitted in circumstances in which a market settlement mechanism exists via an exchange o r central clearing counterparty that effectively accomplishes net settlement through a daily exchange of collateral via a cash margining process. For repurchase arrangements and securities financing transactions, balance sheet offsetting may be permitted only to the extent that the settlement mechanism eliminates, or results in insignificant, credit and liquidity risk, and processes the receivables and payables in a single settlement process or cycle. Refer to Note 24 for more information |
Description Of Accounting Policy For Derivative Financial Instruments And Hedging Explanatory | k. Hedge accounting At the time a financial instrument is designated in a hedge relationship, UBS formally documents the relationship between the hedging instrument(s) and hedged item(s), including the risk manag ement objectives and strategy in undertaking the hedge transaction and the methods that will be used to assess the effectiveness of the hedging relationship. Accordingly, UBS assesses, both at the inception of the hedge and on an ongoing basis, whether the hedging instruments, primarily derivatives, have been “highly effective” in offsetting changes in the fair value or cash flows associated with the designated risk of the hedged items. A hedge is considered highly effective if the following criteria are me t: (i) at inception of the hedge and throughout its life, the hedge is expected to be highly effective in achieving offsetting changes in fair value or cash flows attributable to the hedged risk and (ii) actual results of the hedge are within a range of 80 –125%. In the case of hedging forecast transactions, the transaction must have a high probability of occurring and must present an exposure to variations in cash flows that could ultimately affect the reported net profit or loss. UBS discontinues hedge acc ounting when (i) it determines that a hedging instrument is not, or has ceased to be, highly effective as a hedge, (ii) the derivative expires or is sold, terminated or exercised, (iii) the hedged item matures, is sold or repaid or (iv) forecast transactio ns are no longer deemed highly probable. The Group may also discontinue hedge accounting voluntarily. Hedge ineffectiveness represents the amount by which the changes in the fair value of the hedging instrument differ from changes in the fair value of the hedged item attributable to the hedged risk, or the amount by which changes in the present value of future cash flows of the hedging instrument exceed changes in the present value of expected cash flows of the hedged item. Such ineffectiveness is recorded in current period earnings in Net trading income. Interest from derivatives designated as hedging instruments in effective fair value hedge relationships is presented within Interest income from loans and deposits and Interest expense on debt issued , withi n Net interest income . Interest from derivatives designated as hedging instruments in effective cash flow hedge relationships that is reclassified from other comprehensive income when the hedged transaction affects profit or loss is presented within Intere st income from derivative instruments designated as cash flow hedges . Refer to Note 3 for more information Fair value hedges For qualifying fair value hedges, the change in the fair value of the hedging instrument is recognized in the income statement alo ng with the change in the fair value of the hedged item that is attributable to the hedged risk. In fair value hedges of interest rate risk, the fair value change of the hedged item attributable to the hedged risk is reflected as an adjustment to the carry ing value of the hedged item. If the hedge accounting relationship is terminated for reasons other than the derecognition of the hedged item, the adjustment to the carrying value is amortized to the income statement over the remaining term to maturity of t he hedged item using the effective interest rate method. For a portfolio hedge of interest rate risk, the equivalent change in fair value is reflected within Other assets or Other liabilities . If the portfolio hedge relationship is terminated for reasons o ther than the derecognition of the hedged item, the amount included in Other assets or Other liabilities is amortized to the income statement over the remaining term to maturity of the hedged items using the straight-line method. Cash flow hedges Fair value gains or losses associated with the effective portion of derivatives designated as cash flow hedges for cash flow repricing risk are recognized initially in Other comprehensive income within Equity. When the hedged forecast cash flows affect profit o r loss, the associated gains or losses on the hedging derivatives are reclassified from Equity to the income statement. If a cash flow hedge of forecast transactions is no longer considered effective, or if the hedge relationship is terminated, the cumulat ive gains or losses on the hedging derivatives previously reported in Equity remain there until the c ommitted or forecast transactions occur and affect p rofit or loss. If the forecast transactions are no longer expected to occur, the deferred gains or loss es are reclassified immediately to the income statement. Hedges of net investments in foreign operations Hedges of net investments in foreign operations are accounted for similarly to cash flow hedges. Gains or losses on the hedging instrum ent relating to the effective portion of the hedge are recognized directly in Equity (and presented in the statement of changes in equity and statement of comprehensive income under Foreign currency translation ), while any gains or losses relating to the i neffective and / or undesignated portion (for example, the interest element of a forward contract) are recognized in the income statement. Upon disposal or partial disposal of the foreign operation, the cumulative value of any such gains or losses recogniz ed in Equity associated with the entity is reclassified to the income statement. Economic hedges that do not qualify for hedge accounting Derivative instruments that are transacted as economic hedges, but do not qualify for hedge accounting, are treated in the same way as derivative instruments used for trading purposes (i.e., realized and unrealized gains and losses are recognized in Net trading income ), except for the forward points on certain short duration foreign exchange contracts, which are reported in Net interest income . Refer to Note 12 for more information l. Embedded derivatives Derivatives may be embedded in other financial instruments (host contracts). For example, they could be represented by the conversion feature embedded in a convertible bond. Such hybrid instruments arise predominantly from the issuance of certain structured debt instruments. An embedded derivative is g enerally required to be separated from the host contract and accounted for as a standalone derivative instrument at fair value through profit or loss if (i) the host contract is not carried at fair value with changes in fair value reported in the income st atement, (ii) the economic characteristics and risks of the embedded derivative are not closely related to the economic characteristics and risks of the host contract and (iii) the terms of the embedded derivative would meet the definition of a standalone derivative, were they contained in a separate contract. Typically, UBS applies the fair value option to hybrid instruments (refer to item 3b in this Note for more information), in which case bifurcation of an embedded derivative component is not required. |
Financial guarantee contracts | p. Financial guarantee contracts Financial guarantee contracts are contracts that require the issuer to make specified payments to reimburse the holder for an incurred loss because a specified debtor fails to make payments when due in accordance with the terms of a specified debt instrument. UBS issues such financial guarantees to banks, financial institutions and other parties on behalf of clients to secure loans, overdrafts and other banking facilities. Certain issued fin ancial guarantees that are managed on a fair value basis are designated at fair value through profit or loss. Financial guarantees tha t are not managed on a fair value basis are initially recognized in the financial statements at fair value and are subsequently measured at the higher of the amount initially recogniz ed less cumulative amortization and , to the extent a payment under the gu arantee has become probable, the present value of the expected payment. Any change in the liability relating to probable expected payments resulting from guarantees is recorded in the income statement in Credit loss expense / recovery . |
Fee income | 4) Fee income UBS ea rns fee income from a diverse range of services it provides to its clients. Fee income can be divided into two broad categories: (i) fees earned from services that are provided over a certain period of time, such as portfolio management and advisory fees, and (ii) fees earned from providing transaction-type services, such as underwriting fees, corporate finance fees and brokerage fees. Fees earned from services that are provided over a certain period of time are recognized ratably over the service period, with the exception of performance -linked fees or fee components with specific performance criteria. Such fees are recognized when , as of the reporting date, the performance benchmark has been met and when collect i bility is reasonably assured. Fees earned from providing transaction-type services are recognized when the service has been completed and the fee is fixed or determinable, i.e., not subject to refund or adjustment. Fee income generated from providing a service that does not result in the recogniti on of a financial instrument is presented within Net fee and commission income. Fees generated from the acquisition, issue or disposal of a financial instrument are presented in the income statement in line with the balance sheet classification of that fin ancial instrument. Refer to Note 4 for more information |
Cash and cash equivalents | 5) Cash and cash equivalents For the purposes of the statement of cash flows, cash and cash equivalents comprise balances with an original maturity of three months or less, including cash, money mark et paper and balances with central and other banks. |
Equity participation and other compensation plans | 6) Share-based and other deferred compensation plans Share-based compensation plans UBS has established share-based compensation plans that are settled in UBS‘s equity instruments or an amount that is bas ed on the value of such instruments. T h ese awards are generally subject to conditions that require employees to complete a specified period of service and, for performance shares, to satisfy specified performance conditions . Compensation expense is recogni zed, on a per tranche basis, over the service period based on an estimate of the number of instruments expected to vest and is adjusted to reflect actual outcomes. Where the service period is shortened, for example in the case of employees affected by rest ructuring programs or mutually agreed termination provisions, recognition of expense is accelerated to the termination date. Where no future service is required, such as for employees who are retirement - eligible or who have met certain age and length- of-s ervice criteria, the services are presumed to have been received and compensation expense is recognized immediately on, or prior to, the date of grant. Such awards may remain forfeitable until the legal vesting date if certain non-vesting conditions are no t met . For equity-settled awards, forfeiture events resulting from breach of a non-vesting condition do not result in an adjustment to expense. Compensation expense is measured by reference to the f air value of the equity instruments on the date of grant a djusted, when relevant, to take into account the terms and conditions inherent in the award, including dividend rights, transfer restrictions in effect beyond the vesting date, and non-vesting conditions. For equity - settled instruments, fair value is deter mined at the date of grant and is not remeasured unless its terms are modified such that the fair value immediately after modification exceeds the fair value immediately prior to modification. Any increase in fair value resulting from a modification is rec ognized as compensation expense, either over the remaining service period or, for vested awards, immediately. For cash-settled awards, fair value is remeasured at each reporting date such that the cumulative expense recognized equals the cash distributed. Refer to Note 27 for more information Other compensation plans UBS has established deferred compensation plans that are settled in cash or financial instruments other than UBS equity , the amount of which may be fixed or may vary based on the achievement o f specified performance conditions or the value of specified underlying assets. Compensation expense is recognized over the period that the employee provides services to become entitled to the award. Where the service period is shortened, for example in th e case of employees affected by restructuring programs or mutually agreed termination provisions, recognition of expense is accelerated to the termination date. Where no future service is required, such as for employees who are retirement - eligible or who h ave met certain age and length-of-service criteria, the services are presumed to have been received and compensation expense is recognized immediately on, or prior to, the date of grant. The amount recognized is based on the present value of the amount exp ected to be paid under the plan and is remeasured at each reporting date, so that the cumulative expense recognized equals the cash or the fair value of respective financial instruments distributed. Refer to Note 27 for more information |
Pension and other post-employment benefit plans | 7) Pension and other post-employment benefit plans UBS sponsors various post-employment benefit plans for its employees worldwide, whi ch include defined benefit and defined contribution pension plans, and other post-employment benefits such as medical and life insurance benefits that are payable after the completion of employment. Refer to Note 26 for more information Defined benefit pension plans Defined benefit pension plans specify an amount of benefit that an employee will receive, which usually depends on one or more factors , such as age, years of service and compensation. The defined benefit liability recognized in the balance sh eet is the present value of the defined benefit obligation less the fair value of the plan assets at the balance sheet date with changes resulting from remeasurements recorded immediately in Other comprehensive income . If the fair value of the plan assets is higher than the present value of the defined benefit obligation, the recognition of the resulting net defined benefit asset is limited to the present value of economic benefits available in the form of refunds from the plan or reductions in future contr ibutions to the plan. UBS applies the projected unit credit method to determine the present value of its defined benefit obligations, the related current service cost and, where applicable, past service cost. The projected unit credit method sees each peri od of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation. These amounts, which take into account the specific features of each plan, including risk sharing between employee and employer, are calculated periodically by independent qualified actuaries. Critical accounting estimates and judgments The net defined benefit liability or asset at the balance sheet date and the related personnel expense depend on the expected future benefits to be provided, determined using a number of economic and demographic assumptions. A range of assumptions could be applied , and different assumptions could significantly alter the defined benefit liability or asset and pension expense recognized. The most significant assumptions include life expectancy, the discount rate, expected sala ry increases, pension increases and , in ad dition for the Swiss plan and one of the US defined benefit pension plans, interest credits on retirement savings account b alances. Life expectancy is determined by reference to published mortality tables. The discount rate is determined by reference to the rates of return on high-quality fixed-income investments of appropriate currency and term at the measurement date. The as sumption for salary increases reflects the long-term expectations for salary growth and takes into account historical salary development by age groups, expected inflation and expected supply and demand in the labor market. A sensitivity analysis for reason able possible movements in each significant assumption for UBS‘s post-employment obligations is provided within Note 26 . Defined contribution plans A defined contribution plan is a pension plan under which UBS pays fixed contributions into a separate enti ty from which post-employment and other benefits are paid. UBS has no legal or constructive obligation to pay further contributions if the plan does not hold sufficient assets to pay employees the benefits relating to employee service in the current and pr ior periods. UBS’s contributions are expensed when the employees have rendered services in exchange for such contributions. This is generally in the year of contribution. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in future payments is available. Other post- employment benefits UBS also provides post- employment medical insurance benefits to certain retirees in the US and the UK. The expected costs of these benefits are recognized over the period of employ ment using the same accounting methodology used for defined benefit pension plans. |
Income taxes | 8) Income taxes UBS is subject to the income tax laws of Switzerland and those of the non-Swiss jurisdictions in which UBS has business operations. The Group’s provision fo r income taxes is composed of current and deferred taxes. Current income taxes represent taxes to be paid or refunded for the current period or previous periods . Deferred taxes are recognized for temporary differences between the carrying amounts and tax bases of assets and liabilities that will result in taxable or deductible amounts in future periods and are measured using the applicable tax rates and laws that have been enacted or substantively enacted by the end of the reporting period and which will b e in effect when such differences are expected to reverse . Deferred tax assets arise from a variety of sources, the most significant being: (i) tax losses that can be carried forward to be used against profits in future years and (ii) expenses recognized i n the Group ‘s income statement that are not deductible until the associated cash flows occur. Deferred tax assets are recognized only to the extent that it is probable that sufficient taxable profits will be available against which these differences can be used . When an entity or tax group has a history of recent losses, deferred tax assets are only recognized to the extent there are sufficient taxable temporary differences or there is convincing other evidence that sufficient taxable profit will be availab le against which the unused tax losses can be utilized . Deferred tax liabilities are recognized for temporary differences between the carrying amounts of assets and liabilities in the balance sheet that reflect the expectation that certain items will give rise to taxable income in future periods. Deferred and current tax assets and liabilities are offset when (i) they arise in the same tax reporting group, (ii) they relate to the same tax authority, (iii) t he legal right to offset exists and (iv) they are intended to be settled net or realized simultaneously. Current and deferred taxes are recognized as income tax benefit or expense in t he income statement except for current and deferred taxes recognized (i) upon the acquisition of a subsidiary, (ii) for unrealized gains or losses on financial instruments that are classified as available for sale, (iii) for changes in fair value of deriva tive instruments designated as cash flow hedges, (iv) for remeasurem ents of defined benefit plans, (v) for certain foreign currency translations of foreign operations and ( v i) for gains and losses on the sale of treasury shares. Amounts relating to points (ii) , (iii) , ( iv ) and (v) are recognized in Other comprehensive income within Equity . Critical accounting estimates and judgments Tax laws are complex and judgment and interpretations about the application of such laws are required when accounting for inc ome taxes. UBS considers the performance of its businesses and the accuracy of historical forecasts and other factors in evaluating the recoverability of its deferred tax assets, including the remaining tax loss carry-forward period, and its assessment of expected future taxable profits in the forecast period used for recognizing deferred tax assets. Estimating future profitability is inherently subjective and is particularly sensitive to future economic, market and other conditions , which are difficult to predict. The level of deferred tax asset recognition is influenced by management’s assessment of UBS ’ s future profitability based on relevant business plan forecasts. Existing assessments are reviewed and, if necessary, revised to reflect changed circumst ances. This review is conducted annually, in the second half of each year, but adjustments may be made at other times, if required. In a situation where recent losses have been incurred, convincing evidence that there will be sufficient future profitabilit y is required . If profit forecast assumptions in future periods deviate from the current outlook, the value of UBS ’ s deferred tax assets may be affected. A ny increase or decrease in the carrying amount of deferred tax assets would primarily be recognized t hrough the income statement but would not affect cash flows. Judgment is also required to forecast the expected outcome of uncertain tax positions that may require the interpretation of tax laws and the resolution of any income tax- related appeals or litigation that are incorporated into the estimate of income and deferred tax. Refer to Note 8 for more information |
Investment in associates | 9) Investment in associates Entities where UBS has significant influence over the financial and operating policies of the entity, but does not have control, are classified as investments in associates and accounted for under the equity method of accounting. Typically, UBS has significant influence when it holds or has the ability to hold between 20% and 50% of a company’s voting rights. Inve stments in associates are initially recognized at cost, and the carrying amount is increased or decreased after the date of acquisition to recognize the Group’s share of the investee’s comprehensive income and any impairment losses. The net investment in an associate is impaired if there is objective evidence of a loss event and the carrying value of the investment in the associate is below its recoverable amount . Refer to Note 28 for more information |
Property, equipment and software | 10) Property, equipment and software Property, equipme nt and software includes own-used properties, leasehold improvements, information technology hardware, externally purchased and internally generated software, as well as communication and other similar equipment. Property, equipment and software is carried at cost less accumulated dep reciation and impairment losses and is reviewed at each reporting date for indication for impairment. Software development costs are capitalized only when the costs can be measured reliably and it is probable that future econom ic benefits will arise. Depreciation of property, equipment and software begins when they are available for use, that is, when they are in the location and condition necessary for them to be capable of operating in the manner intended by management. Deprec iation is calculated on a straight-line basis over an asset ‘s estimated useful life. The estimated useful economic lives of UBS‘s property, equipment and software are: properties, excluding land: ≤ 67 years IT hardware and communication equipment: ≤ 7 yea rs other machines and equipment: ≤ 10 years software: ≤ 10 years leasehold improvements: shorter of the lease term or the economic life of asset (typically ≤ 20 years) Refer to Note 14 for more information |
Goodwill and intangible assets | 11) Goodwill and intangible assets Goodwill represents the excess of the cost of an acquisition over the fair value of the Group‘s share of net identifiable assets of the acquired entity at the date of the acquisition. Goodwill is not amortized, but at the end of each reporting period or when indicators of impairment exist, UBS assesses whether there is any indication that goodwill i s impaired. If such indicators exist, UBS is required to test the goodwill for impairment. Irrespective of whether there is any indication of impairment, UBS tests goodwill for impairment annually. UBS considers the segments, as reported in Note 2a, as sep arate cash-generating units, since this is the level at which the performance of investments is reviewed and assessed by management. The impairment test is performed for each segment to which goodwill is allocated by comparing the recoverable amount, based on its value-in-use, to the carrying amount of the respective segment. An impairment charge is recognized if the carrying amount exceeds the recoverable amount. If the estimated earnings and other assumptions in future periods deviate from the current ou tlook, the value of UBS‘s goodwill may become impaired in the future, giving rise to losses in the income statement. Recognition of any impairment of goodwill would reduce net profit and equity, but would not affect cash flows. Intangible assets are compri sed of separately identifiable intangible items arising from business combinations and certain purchased trademarks and similar items. Intangible assets are recognized at cost. The cost of an intangible asset acquired in a business combination is its fair value at the date of acquisition. Intangible assets with a finite useful life are amortized using the straight-line method over their estimated useful life, generally not exceeding 20 years. In rare cases, intangible assets can have an indefinite useful li fe, in which case they are not amortized. At each reporting date, intangible assets are reviewed for indications of impairment. If such indications exist, the intangible assets are analyzed to assess whether their carrying amount is fully recoverable. An i mpairment loss is recognized if the carrying amount exceeds the recoverable amount. Critical accounting estimates and judgments UBS‘s methodology for goodwill impairment testing is based on a model that is most sensitive to the following key assumptions: (i) forecasts of earnings available to shareholders in years one to three, (ii) changes in the discount rates and (iii) changes in the long-term growth rate. Key assumptions used to determine the recoverable amounts of each segment are tested for sensitivi ty by applying a reasonably possible change to those assumptions. R efer to Note 15 for the discussion of how the reasonably possible changes in those key assumptions may affect the results delivered by UBS‘s model for goodwill impairment testing. Refer to Notes 2 and 15 for more information |
Provisions and contingent liabilities | 12) Provisions and contingent liabilities Provisions are liabilities of uncertain timing or amount, and are recognized when (i) UBS has a present obligation as a result of a past event, (ii) it is probable that an outflo w of resources will be re quired to settle the obligation and (iii) a reliable estimate of the amount of the obligation can be made. The majority of UBS’s provisions relate to litigation, regulatory and similar matters, restructuring, employee benefits, re al estate and loan commitments and guarantees. The Group recognizes provisions for litigation, regulatory and similar matters when, in the opinion of management after seeking legal advice, it is more likely than not that the Group has a present legal or c onstructive obligation as a result of past events, it is probable that an outflow of resources will be required, and the amount can be reliably estimated. Where these factors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against the Group, but are nevertheless expected to be, based on the Group’s experience with similar asserted claims. Restructuring provisions are recognized when a detailed and formal restructuring plan has been approved and a valid expe ctation has been raised that the restructuring will be carried out, either through commencement of the plan or announcements to affected employees. Provisions are recognized for lease contracts if the unavoidable costs of a contract exceed the benefits exp ected to be received under it (onerous lease contracts). For example, this may occur when a significant portion of a leased property is expected to be vacant for an extended period. Provisions for employee benefits are recognized mainly in respect of servi ce anniversaries and sabbatical leave. Provisions are recognized at the best estimate of the consideration required to settle the present obligation at the balance sheet date. Such estimates are based on all available information and are revised over time as more information becomes available. If the effect of the time value of money is material, provisions are discounted and measured at the present value of the expenditure expected to settle or discharge the obligation, using a rate that reflects the curre nt market assessments of the time value of money and the risks specific to the obligation. Provisions that are similar in nature are aggregated to form a class, while the remaining provisions, including those of less significant amounts , are presented und er Other provisions . Provisions are presented separately on the balance sheet and, when they are no longer considered uncertain in timing or amount, are reclassified to Other liabilities – Other . When all conditions required to recognize a provision are not met, a contingent liability is disclosed, unless the likelihood of an outflow of resources is remote , in which case no provision is recognized and no contingent liability is reported . Contingent liabilities are also disclosed for possible obligations t hat arise from past events whose existence will be confirmed only by uncertain future events not wholly within the control of UBS. Such disclosures are not made if it is not practicable to do so. Critical accounting estimates and judgments Recognition of provisions often involves significant judgment in assessing the existence of an obligation that results from past events and in es timating the probability, timing and amount of any outflows of resources. This is particularly the case for litigation, regulatory and similar matters, which, due to their nature, are subject to many uncertainties making their outcome difficult to predict. Such matters may involve unique fact patterns or novel legal theories, proceedings that have not yet been initiated or are at early stages of adjudication, or as to which alleged damages have not been quantified by the claimants. Determining whether an ob ligation exists as a result of a past event and estimating the probability, timing and amount of any potential outflows is based on a variety of assumptions, variables, and known and unknown uncertainties. The amount of any provision recognized is sensitiv e to the assumptions used and there could be a wide range of possible outcomes for any particular matter. Statistical or other quantitative analytical tools are of limited use in determining whether to establish or determine the amount of provisions in the case of litigation, regulatory or similar matters. Furthermore, information currently available to management may be incomplete or inaccurate, increasing the risk of erroneous assumptions with regard to the future development of such matters. Management r egularly reviews all the available information regarding such matters, including legal advice, which is a significant consideration, to assess whether the recognition criteria for provisions have been satisfied and to determine the timing and amount of any potential outflows . Refer to Note 20 for more information |
Foreign currency translation | 13) Foreign currency translation Transactions denominated in a foreign currency are translated into the functional currency of the reporting entity at the spot exchange rate on the date of the tra nsaction. At the balance sheet date, all monetary assets and liabilities denominated in foreign currency are translated into the functional currency using the closing exchange rate. Non-monetary items measured at historical cost are translated at the excha nge rate on the date of the transaction. Foreign currency translation differences on non-monetary financial assets classified as available for sale are generally recorded directly in Equity until the asset is sold or becomes impaired. However, translation differences on available - for - sale monetary financial assets are reported in Net trading income on an amortized - cost basis, along with all other foreign currency translation differences on monetary assets and liabilities. Upon consoli dation, assets and liabilities of foreign operations are translated into Swiss francs (CHF), UBS’s presentation currency, at the closing exchange rate on the balance sheet date, and income and expense items are translated at the average rate for the period . The resulting foreign currency translation differences attributable to shareholders are recognized directly in Foreign currency translation within Equity, which forms part of Total equity attributable to shareholders , whereas the foreign currency transla tion differences attributable to non-controlling interests are shown within Equity attributable to non-controlling interests . When a foreign operation is disposed or partially disposed of and UBS loses control over the foreign operation, the cumulative am ount of foreign currency translation differences within Total equity attributable to shareholders and Equity attributable to non-controlling interests related to that foreign operation is reclassified to the income statement as part of the gain or loss on disposal. When UBS disposes of a portion of its interest in a subsidiary that includes a foreign operation but retains control, the related portion of the cumulative currency translation balance is reclassified to Equity attributable to non-controlling int erests . Refer to Note 34 for more information |
Equity, treasury shares and contracts on UBS Group AG shares | 14) Equity, treasury shares and contracts on UBS Group AG shares Non-controlling interests Net profit is split into Net profit attributable to shareholders and Net profit attributable to non-controlling interests (including net profit attributable to preferred noteholders, if any) . Similarly, Equity is split into Equity attributable to shareholders and Equity attributable to non-controlling interests (including e quity attributable to preferred noteholders, if any) . UBS Group AG shares held (treasury shares) UBS Group AG shares held by the Group are presented in Equity as Treasury shares at their acquisition cost and are deducted from Equity until they are canceled or reissued. The difference bet ween the proceeds from sales of treasury shares and their weighted average cost (net of tax, if any) is reported as Share premium . Net cash settlement contracts Contracts on UBS Group AG shares that require net cash settlement, or provide the counterparty or UBS with a settlement option that includes a choice of settling net in cash, are classified as held for trading derivatives , with changes in fair value reported in the income statement as Net trading income . |
Leasing | 15) Leasing UBS enters into lease contracts, or contracts that include lease components, predominantly of premises and equipment, and primarily as lessee. Leases that transfer subs tantially all the risks and rewards, but not necessarily legal title in the underlying assets, are classified as finance leases. All other leases are classified as operating leases. UBS is not a lessee in any material finance leases. Lease contracts classi fied as operating leases where UBS is the lessee include non- cancelable long-term leases of office buildings in most UBS locations. Operating lease rentals payable are recognized as an expense on a straight-line basis over the lease term, which commences w ith control of the physical use of the property. Lease incentives are treated as a reduction of rental expense and are recognized on a consistent basis over the lease term. Where UBS acts as lessor under a finance lease, a receivable is recognized in Loans at an amount equal to the present value of the aggregate of the minimum lease payments plus any unguaranteed residual value that UBS expects to recover at the end of the lease term. Initial direct costs are also included in the initial measurement of the lease receivable. Lease payments received during the lease term are allocated to repayment of the outstanding receivable and interest income to reflect a constant periodic rate of return on UBS’s net investment using the interest rate implicit in the lease . UBS reviews the estimated unguaranteed residual value annually , and if the estimated residual value to be realized is less than the amount assumed at lease inception, a loss is recognized for the expected shortfall. Certain arrangements do not take the legal form of a lease but convey a right to use an asset in return for a payment or series of payments. For such arrangements, UBS determines at the inception of the arrangement whether the fulfillment of the arrangement is dependent on the use of a specif ic asset or assets , and if so, the arrangement is accounted for as a lease. Refer to Notes 10 and 31 for more information |
UBS AG | |
Significant Accounting Policies 2 [Line Items] | |
Basis of accounting | Basis of accounting The Financial Statements have been prepared in accordance with International Financial Reporting Standards ( IFRS ) , as issued by the International Accounting Standards Board (IASB), and are presented in Swiss francs (CHF) , which is also the functional currency of UBS AG’s Head Office and its Swiss-based operations. Disclosures provided in the “Risk, treasury and capital management” section of this report that are marked as audited form an integral part of the Financial Sta tements. These disclosures relate to requirements under IFRS 7, Financial Instruments: Disclosures and IAS 1, Presentation of Financial Statements and are not repeated in this section. The accounting policies described in this Note have been applied consi stently in all years presented unless otherwise stated in Note 1b. |
Critical accounting estimates and judgments | Critical accounting estimates and judgments Preparation of these Financial Statements under IFRS requires management to apply judgment and make estimates and assumptions that affect reported amounts of assets, liabilities, income and expenses and disclosure of contingent assets and liabilities, and may involve significant uncertainty at the time they are made. Such estimates and assumptions are based on the best available information. UBS AG regularly reassesses the estimates and assumptions, which encompass historical experience, expectations of the future and other pertinent factors, to determine their continuing relevance based on current conditions and it updates them as necessary. Changes in those estimates and assumptions may have a significant impact on the Financial Statements. Further, actual results may differ significantly from UBS AG’s estimates, which could result in significant loss to it , beyond what it anticipated or provided for. The following areas contain estimation uncertainty or require critical judgment and have a signif icant effect on the amounts recognized in the Financial Statements: fair value of financial instruments (refer to item 3f in this Note and to Note 22) allowances and provisions for credit losses (refer to item 3g in this Note and to Note 11) pension and other post-employment benefit plans (refer to item 7 in this Note and to Note 26) income taxes (refer to item 8 in this Note and to Note 8 ) goodwill (refer to item 11 in this Note and to Note 15) provisions and contingent liabilities (refer to item 12 in this Note and to Note 20) consolidation of structured entities (refer to item 1 in this Note and to Note 28) . |
Consolidation Structured entities | 1) Consolidation a. Consolidation principles The Financial Statements comprise the financial statements of UBS AG and its subsidiaries, presente d as a single economic entity, whereby intercompany transactions and balances have been eliminated. UBS AG consolidates all entities that it controls, including controlled structured entities (SEs), which is the case when it has (i) power over the relevant activities of the entity, (ii) exposure to an entity ‘s variable returns and (iii) the ability to use its power to affect its own returns. Where an entity is governed by voting rights, control is generally indicated by a direct shareholding of more than on e-half of the voting rights. In other cases, the assessment of control is more complex and requires greater use of judgm ent. Where UBS AG has an interest in an entity that absorbs variability, UBS AG considers whether it has power over the relevant activities of the entity that allows it to affect the variability of its returns. Consideration is given to all facts and circu mstances to determine whether UBS AG has power over another entity ; that is, the current ability to direct the relevant activities of an entity when decisions about those activities need to be made. Factors such as the purpose and design of the entity, rig hts held through contractual arrangements , such as call rights, put rights or liquidation rights, as well as potential decision-making rights are all considered in this assessment. Where UBS AG has power over the relevant activities, a further assessment i s made to determine whether, through that power, it has the ability to affect its own returns by assessing whether power is held in a principal or agent capacity. Consideration is given to (i) the scope of decision-making authority, (ii) rights held by oth er parties, including removal or other participating rights, and (iii) exposure to variability, including remuneration, relative to total variability of the entity as well as whether that exposure is different from that of other investors. If, after review of these factors, UBS AG concludes that it can exercise its power to affect its own returns, the entity is consolidated. Subsidiaries, including SEs, are consolidated from the date when control is obtained and are deconsolidated from the date when control ceases. Control, or the lack thereof, is reassessed if facts and circumstances indicate that there is a change to one or more of the elements required to establish that control is present. Refer to Note 28 for more information b. Structured entities UBS AG sponsors the formation of SEs and interacts with non-sponsored SEs for a variety of reasons, including allowing clients to obtain or be exposed to particular risk profiles, to provide funding or to sell or purchase credit risk. An SE is an entity that h as been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Such entities generally have a narrow and well-defined objective and include those historically referred to as special purpose entities , as w ell as some investment funds. UBS AG assesses whether an entity is an SE by considering the nature of the activities of the entity as well as the substance of voting or similar rights afforded to other parties, including investors and independent boards or directors. UBS AG considers rights such as the ability to liquidate the entity or remove the decision maker to be similar to voting rights when the holder has the substantive ability to exercise such rights without cause. In the absence of such rights or in cases where the existence of such rights cannot be fully established, the entity is considered to be an SE. The classes of SEs with which UBS AG is involved include: Securitization structured entities are established to issue securities to investors t hat are backed by assets held by the SE and whereby (i) significant credit risk associated with the securitized exposures has been transferred to third parties and (ii) there is more than one risk position or tranche issued by the securitization vehicle in line with the Basel III securitization definition. All securitization entities are classified as SEs. Client investment structured entities are established predominantly for clients to invest in specific assets or risk exposures through purchasing notes issued by the SE, predominantly on a fixed-term basis. The SE may source assets via a transfer from UBS AG or through an external market transaction. In some cases, UBS AG may enter into derivatives with the SE to either align the cash flows of the entity with the investor’s intended investment objective or to introduce other desired risk exposures. In certain cases, UBS AG may have interests in a third-party-sponsored SE to hedge specific risks or participate in asset-backed financing. Investment fund stru ctured entities have a collective investment objective, are managed by an investment manager and are either passively managed, so that any decision making does not have a substantive effect on variability, or are actively managed and investors or their gov erning bodies do not have substantive voting or similar rights. UBS AG creates and sponsors a large number of funds in which it may have an interest through the receipt of variable management fees and / or a direct investment. In addition, UBS AG has inter ests in a number of funds created and sponsored by third parties, including exchange-traded funds and hedge funds, to hedge issued structured products. When UBS AG does not consolidate an SE, but has an interest in an SE or has sponsored an SE, disclosure s are provided on the nature of these interests and sponsorship activities. Critical accounting estimates and judgments Each individual entity is assessed for consolidation in line with the aforementioned consolidation principles. The assessment of contr ol can be complex and requires the use of significant judgment. As the nature and extent of UBS AG’s involvement are unique to each entity, there is no uniform consolidation outcome by entity. Certain entities within a class may be consolidated while other s may not. Refer to Note 28 for more information |
Segment reporting | 2) Segment reporting As of 31 December 2017, UBS AG‘s businesses were organized globally into five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank, all of which were supported by Corporate Center. The five business divisions qualify as reportable segments for the purpose of segment reporting and, together with Corporate Center, reflect the management structure of UBS AG . Corporate Center – Non-core and Legacy Portfolio is managed and reported as a separate reportable segment within Corp orate Center. Financial information about the five business divisions and Corporate Center (with its units : Services, Group Asset and Liability Management (Group ALM), Non-core and Legacy Portfolio) is presented separately in internal reporting to manageme nt . UBS AG ’s internal accounting policies, which include management accounting policies and service level agreements, determine the revenues and expenses directly attributable to each reportable segment. Transactions between the reportable segments are ca rried out at internally agreed rates and are reflected in the operating results of the reportable segments. Revenue-sharing agreements are used to allocate external client revenues to reportable segments where several reportable segments are involved in th e value creation chain. Commissions are credited to the reportable segments based on the corresponding client relationship. Total intersegment revenues for UBS AG are immaterial, as the majority of the revenues are allocated across the segments by means of revenue-sharing agreements. Net interest income is generally allocated to the reportable segments based on their balance sheet positions. Interest income earned from managing UBS AG ’s consolidated equity is allocated to the reportable segments based on av erage attributed equity. Assets and liabilities of the reportable segments are funded through and invested with Corporate Center – Group ALM, and the net interest margin is reflected in the results of each reportable segment. Segment assets are based on a third-party view and do not include intercompany balances. This view is in line with internal reporting to management . Certain assets managed centrally by Corporate Center – Services and Corporate Center – Group ALM may be allocated to other segments on a basis different to that on which the corresponding costs or revenues are allocated. For example, certain assets that are reported in Corporate Center – Services or Corporate Center – Group ALM may be retained on the balance sheet of these components of Cor porate Center notwithstanding that the costs or revenues associated with these assets may be entirely or partly allocated to the segments. Similarly, certain assets are reported in the business divisions, whereas the corresponding costs or revenues are ent irely or partly allocated to Corporate Center – Services and Corporate Center – Group ALM. Non-current assets disclosed for segment reporting purposes represent assets that are expected to be recovered more than twelve months after the reporting date, excl uding financial instruments, deferred tax assets, post-employment benefits and rights arising under insurance contracts. Refer to Note s 1c and 2 for more information |
Financial instruments | 3) Financial instruments a. Recognition UBS recognizes financial instruments when it becomes a party to the c ontractual provisions of the instrument. UBS applies settlement date accounting to all regular way purchases and sales of financial instruments . In transactions in which UBS acts a s a transferee, to the extent that the transfer of a financial asset does n ot qualify for derecognition by the t ransferor, UBS does not recogniz e the transferred asset as its asset. UBS also acts in a fiduciary capacity, which results in the holding or placing of assets on behalf of individuals, trusts, retirement benefit plans a nd other institutions. Unless the recognition criteria are satisfied, these assets are not recognized on UBS’s balance sheet. Consequently, the related income is excluded from these Financial Statements. Client cash balances associated with derivatives cl earing and execution services are not recognized on the balance sheet if, through contractual agreement, regulation or practice, the Group neither obtains benefits from nor controls the client cash balances. b. Classification, measurement and presentation U pon initial recognition, UBS records financial instruments at fair value plus , for financial instruments not measured at fair value through profit or loss, directly attributable transaction costs. After initial recognition, UBS classifies, measures and presents its financial assets and liabilities in accordance with IAS 39, Financial Instruments: Recognition and Measurement as described in the following table. Refer to Note 25a for an overview of financial assets and liabilities by IAS 39 c ategory Refer to the balance sheet for references to Notes that provide information on the composition of individual financial asset and liability categories Financial assets classification Significant items included Measurement and presentation Held for trading All derivatives with a positive replacement value, except those that are designated and effective hedging instruments . Any other financial asset acquired principally for the purpose of selling or repurchasing in the near term, or part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of s hort-term profit taking. Included in this category are debt instruments (including those in the form of securities, money market paper and traded corporate and bank loans), equity instruments, and assets held under unit-linked investment contracts. Measure d at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Net trading income, except interest and dividend income on instruments other than derivatives ( refer to item 3c in this Note ), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short duration foreign exchange contracts, which are reported in Net interest income. Derivative assets are generally presented as Positive replacement values. Bifurcated embedded derivatives are measured at fair value, but presented on the same balance sheet line as the host contract measured at amo rtized cost. The presentation of fair value changes on derivatives that are designated and effective hedging instruments differs depending on the type of hedge relationship (refer to item 3k in this Note for more information). Financial assets h eld for trading (other than derivatives) are presented as Trading portfolio assets. Financial assets designated at fair value through profit or loss are presented as Financial assets designated at fair value . Designated at fair value through profit or loss A financial asset may be designated at fair value through profit or loss only upon initial recognition and this designation is irrevocable. The fair value option can be applied only if one of the following criteria is met: the financial instrument is a hybrid instrument that includes a substantive embedded derivative; the financial instrument is part of a portfolio that is risk managed on a fair value basis and reported to senior management on that basis ; or the application of the fair value option elimi nates or significantly reduces an accounting mismatch that would otherwise arise. UBS designated at fair value through profit or loss the following financial assets : Certain structured loans, reverse repurchase and securities borrowing agreements that are managed on a fair value basis. Loans that are hedged predominantly with credit derivatives. These instruments are designated at fair value to eliminate an accounting mismatch. Certain debt securities held as high-quality liquid assets (HQLA) and managed by Corporate Cent er – Group ALM on a fair value basis. Assets held to hedge delivery obligations related to cash-settled employee compensation plans. These assets are designated at fair value in order to eliminate an accounting mismatch that would otherwise arise due to the liability being measured on a fair value basis. Measure d at fair value with changes recognized in profit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Net trading income, except interest and dividend income on instruments other than derivatives ( refer to item 3c in this Note ), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain short duration foreign exchange contracts, which are reported in Net interest income. Derivative assets are generally presented as Positive replacement values. Bifurcated embedded derivatives are measured at fair value, but presented on the same balance sheet line as the host contract measured at amo rtized cost. The presentation of fair value changes on derivatives that are designated and effective hedging instruments differs depending on the type of hedge relationship (refer to item 3k in this Note for more information). Financial assets h eld for trading (other than derivatives) are presented as Trading portfolio assets. Financial assets designated at fair value through profit or loss are presented as Financial assets designated at fair value . Loans and receivables (amortized cost) Non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are not assets for which the Group may not recover substantially all of its initial net investment for reas ons other than credit deterioration. This classification includes: cash and balances with centr al banks cash collateral receivables on derivative instruments residential and commercial mortgages secured loans, including reverse repurchase agreements, receivables under stock borrowing and L ombard loans, and unsecured loans certain securities held within Corporate Center – Non- c ore and Legacy Portfolio trade and l ease receivables . Measured at amortized cost using the effective interest rate method less allowances for credit losses (refer to items 3c and 3g in this Note ). Upfront fees and direct costs relating to loan origination, refinancing or restructuring as well as to loan commitments are deferred and amortized over the life of the loan using the effective interest rate method. Loans and receivables are presented on t he balance sheet primarily as Cash and balances with central banks, Due from banks, Loans, Cash collateral on securities borrowed, Reverse repurchase agreements and Cash collateral receivables on derivative instruments. Amounts arising from e xchange-trade d derivatives (ETD) and certain over-the-counter ( OTC ) derivatives cleared through central clearing counterparties that are either considered to be daily settled or qualify for netting (refer to items 3d and 3j in this Note ) are presented within Cash colla teral receivables on derivative instruments. Financial assets classification Significant items included Measurement and presentation Available for sale Financial assets classified as available for sale are non-derivative financial assets that are not classified as held for trading, designated at fair value through profit or loss, or loans and receivables. This classification mainly includes d ebt securitie s held as HQLA and managed by Corporate Center – Group ALM , certain asset-backed securities managed by Corporate Center – Group ALM , as well as investment fund holdings and strategic and commercial equity investments. Measured at fair value with unrealized gains and losses reported in Other comprehensive income, n et of applicable income taxes, until such investments are sold, collected or otherwise disposed of, or until any such investment is determined to be impaired ( refer to item 3i in this Note). Upon disposal, any accumulated balances in Other comprehensive income are reclassified to the income statement and reported within Other income. Interest and dividend income are recognized in the income statement in accorda nce with item 3c in this Note. Refer to item 13 in this Note for information on the treatment of foreign exchange translation gains and losses. Held to maturity Non-derivative financial assets with fixed or determinable payments and fixed maturities for w hich UBS has the positive inten tion and ab i l ity to hold to maturity. This classification mainly includes debt securities held as HQLA and managed by Corporate Center – Group ALM. Measured at amortized cost using the effective interest rate method less all owances for credit losses (refer to items 3c and 3g in this Note ). Financial liabilities c lassification Significant items included Measurement and presentation Held for trading Obligations to deliver financial instruments, such as debt and equity instruments, that UBS has sold to third parties, but does not own (short positions) . All derivatives with a negative replacement value, except those that are designated and effective hed ging instruments . Measurement of trading liabilities follows the same principles as for held for trading assets , and measurement of liabilities designated at fair value through profit or loss follows the same principles as for assets designated at fair val ue through profit or loss. Presented as Trading portfolio liabilities and Financial liabilities designated at fair value, respectively. Derivative liabilities are generally presented as Negative replacement values. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost . Derivatives that are designated and effective hedging instruments are also measured at fair value. The presentation of fair value cha nges differs depending on the type of hedge relationship ( refer to item 3k in this Note for more information). Amounts due under unit-linked investment contracts are presented as Other liabilities. Designated at fair value through profit or loss UBS designated at fair value through profit or loss the following financial liabilities: Issued hybrid debt instruments that primarily include equity-linked, credit-linked and rates-linked bonds or notes. Issued debt instruments managed on a fair value basis. Loan commitments that are hedged predominantly with credit derivatives and hence eliminate an accounting mismatch. Measurement of trading liabilities follows the same principles as for held for trading assets , and measurement of liabilities designated at fair value through profit or loss follows the same principles as for assets designated at fair val ue through profit or loss. Presented as Trading portfolio liabilities and Financial liabilities designated at fair value, respectively. Derivative liabilities are generally presented as Negative replacement values. Bifurcated embedded derivatives are measured at fair value, but are presented on the same balance sheet line as the host contract measured at amortized cost . Derivatives that are designated and effective hedging instruments are also measured at fair value. The presentation of fair value cha nges differs depending on the type of hedge relationship ( refer to item 3k in this Note for more information). Amounts due under unit-linked investment contracts are presented as Other liabilities. Amortized cost This classification includes: Demand and time deposits, retail savings / deposits, cash collateral on securities lent, non-structured fixed-rate bonds, subordinated debt, certificates of deposit, covered bonds . Cash collateral payables on derivative instruments. Measured at amortized cost using the effective interest rat e method. Amortized cost liabilities are presented on the balance sheet primarily as Due to banks, Due to customers, Cash collateral on securities lent, Repurchase agreements, Cash collateral payables on derivative instruments and Debt issued. Amounts arising from ETD and certain OTC derivatives cleared through central clearing counterparties that are either considered to be daily settled or qualify for netting (refer to items 3d and 3j of this Note ) are presented within Cash collateral payables on derivative inst ruments. e. Securities borrowing / lending and repurchase / reverse repurchase transactions Securities borrowing / lending and repurchase / reverse repurchase transactions are generally entered into on a collateralized basis. In such transactions, UBS typically borrows or lends equity and debt securities in exchange for securities or cash collateral. These transactions are treat ed as collateralized financing transactions where the securities transferred / received are not derecognized or recognized on balance sheet. Securities transferred / received with the right to resell or repledge are disclosed separately. In reverse repurch ase and securities borrowing agreements, the cash delivered is derecognized and a corresponding receivable, including accrued interest, is recorded in the balance sheet lines Reverse repurchase a greements and Cash collateral on securities borrowed, respectively , representing UBS’s right to receive the cash. Similarly, in repurchase and securities lending agreements, the cash received is recognized and a corresponding obligation, including accrued interest, is recorded in the balance sheet lines Repur chase agreements and Cash collateral on securities lent, respectively . Additionally, the sale of securities that is settled by delivering securities received in reverse repurchase or securities borrowing transactions triggers the recognition of a trading l iability. Repurchase and reverse repurchase transactions with the same counterparty, maturity, currency and central securities d epository (CSD) are generally presented net, subject to meeting the netting requirements described in item 3j of this Note . Refe r to Notes 23 and 24 for more information h. Re structured loans A renegotiated or restructured loan is a loan for which the terms have been modified or for which additional collateral has been requested that was not contemplated in the original contract. Typical key features of terms and conditions granted through restructuring to avoid default include special in terest rates , postponement of interest or principal payments, debt / equity swaps, modification of the schedule of repayments, subordination or amendment of loan maturity. There is no change in the EIR following a renegotiation. If a loan is restructured w ith preferential conditions (i.e., new or modified terms and conditions are agreed upon that do not meet the normal market criteria for the quality of the obligor and the type of loan), it is classified as defaulted . It will remain so until the loan is col lected , written off or non-preferential conditions are granted that supersede the preferential conditions . Concessions granted where there is no evidence of financial difficulty, or where any changes to ter ms and conditions are within UBS‘s usual risk appe tite, are not deemed restructured. A restructuring of a loan could lead to a fundamental change in the terms, resulting in the original loan being derecognized and a new loan being recognized. If a loan is derecognized in these circumstances, the new loan is measured at fair value at initial recognition. Any allowance taken to date against the original loan is derecognized and is not attributed to the new loan. Consequently, the new loan is assessed for impairment on an individual basis. If the loan is not impaired, the loan is included within the general collective loan assessment for the purpose of measuring credit losses. m. Financial liabilities Debt issued Debt issued is carried at amortized cost, including contingent capital instruments that contain contractual provisions under which the principal amounts would be written down upon either a specified CET1 ratio breach or a determination by FINMA that a viability event has occurred. Such contractual provisions are not derivatives as the underlying is deemed to be a non-financial variable specific to a party to the co ntract. Where there is a legal ba il-in mechanism for write-down or conversion into equity (as is the case, for instance, with senior unsecured debt issued by UBS AG that is subject to write-down or conversion under resolution authority granted to FINMA under Swiss law), such mech anism does not form part of the contractual terms and, therefore, also does not affect the amortized cost accounting treatment applied to these instruments. If the debt were to be written down or converted into equity in a future period, this would result in the full or partial derecognition of the financial liabilities, with the difference between the carrying value of the debt written down or converted into equity and the fair value of any equity shares issued recognized in the income statement. In cases where, as part of UBS AG’s risk management activity, fair value hedge accounting is applied to fixed-rate debt instruments carried at amortized cost, their carrying amount is adjusted for changes in fair value related to the hedged exposure. Refer to item 3k for more information on hedge accounting. Obligations of UBS AG arising from funding it has received from UBS Gro up AG or its subsidiaries, which are not within the UBS AG scope of consolidation, are presented as Due to customers . Debt issued and subse quently repurchased in relation to market-making or other activities is treated as redeemed. A gain or loss on redemption (depending on whether the repurchase price of the bond is lower or higher than its carrying value) is recorded in Other income . A subs equent sale of own bonds in the market is treated as a reissuance of debt. Financial liabilities designated at fair value UBS AG uses the fair value option to designate certain issued debt instruments as financial liabilities designated at fair value throu gh profit or loss, on the basis that such financial instruments include embedded derivatives and / or are managed on a fair value basis (refer to item 3b in this Note for more information). n. Own credit From 1 January 2016 onward, changes in the fair valu e of financial liabilities designated at fair value through profit or loss related to own credit are recognized in Other comprehensive income directly within Retained earnings and will not be reclassified to the income statement in future periods. o. Loan commitments Loan commitments are arrangements under which clients can borrow stipulated amounts under defined terms and conditions. Loan commitments that can be canceled at any time by UBS AG at its discretion are neither recognized on the balance sheet n or included in off-balance sheet disclosures. Loan commitments that cannot be canceled by UBS AG once the commitments are communicated to the beneficiary or which are revocable only due to automatic cancelation upon deterioration in a borrower’s creditwor thiness are considered irrevocable and are classified as (i) derivative loan commitments measured at fair value through profit or loss, (ii ) loan commitments designated at fair value through profit or loss or (iii) other loan commitments . Other loan commit ments are not recorded on the balance sheet, but a provision is recognized through profit or loss if it is probable that a loss has been incurred and a reliable estimate of the amount of the obligation can be made. Any change in the liability relating to t hese other loan commitments is recorded in the income statement in Credit loss expense / recovery . When a client draws on a commitment, the resulting loan is classified as a (i) t rading asset , consistent with the associated derivative loan commitment , (ii) f inancial asset designated at fair value through profit or loss , consistent with the loan commitment designated at fair value through profit or loss or as a (iii) l oan , when the associated loan commitment is accounted for as other loan commitment . |
Interest income and expense | c. Interest income and expense Interest income or expense is determined by reference to a financial instrument ‘s amortized - cost basis calculated using the effective interest rate (EIR) method. UBS also uses this method to determine the interest income and expense for financial instruments (excluding derivatives) measured at fair value through profit or loss . Interest income or expense on financial instruments measured at amortized cost, debt instruments measured at fair value through profit or loss and available-for-sale financial assets are presented within Net interest income. In a dditi on, Net i nterest i ncome includes the int erest income and expense on derivatives designated as hedging instruments in effective hedge relationships and forward points on certain short duration foreign exchange contracts . Upfront fees, including loan commitment fees where a loan is expected to be issued, and direct costs are included within the initial measurement of a financial instrument measured at amortized cost or classified as available for sale. Such fees and costs are therefore recognized over the expected life of the instrument as part of its EIR. Fees related to loan commitments where no loan is expected to be issued, as well as loan syndication fees where UBS does not retain a portion of the syndicated loan or where UBS does retain a portion of the syndicated loan at the same effective yi eld for comparable risk as other participants, are included in Net fee and commission income. Interest income on financial assets, excluding derivatives, is included in Interest income when positive and in Interest expense when negative , because negative interest income arising on a financial asset does not meet the definition of revenue. Similarly, interest expense on financial liabilities, excluding derivatives, is included in Interest expense , except when interest rates are negative, in which case it is included in Interest income. Dividend income on all financial assets is included in Interest income. Refer to item 3k in this Note and Note 3 for more information |
Derecognition of financial instruments | d. Derecognition Financial assets UBS derecognizes a financial asset, or a portion of a financial asset, from its balance sheet where the contractual rights to cash flows from the asset have expired, or have been transferred, usually by sale, thus exposing the purchaser to either substantially all the risks and rewards of the asset or a signi ficant part of the risks and rewards combined with a practical ability to sell or pledge the asset. A financial asset is considered to have been transferred when UBS (i) transfers the contractual rights to receive the cash flows of the financial asset or (ii) retains the contractual rights to receive the cash flows of that asset, but assumes a contractual obligation to pay the cash flows to one or more entities. Where financial assets have been pledged as collateral or in similar arrangements, they are con sidered to have been transferred if the counterparty has received the contractual right to the cash flows of the pledged assets, as may be evidenced, for example, by the counterparty’s right to sell or repledge the assets. Where the counterparty to the ple dged financial assets has not received the contractual right to the cash flows, UBS does not consider this to be a transfer for the purposes of derecognition. UBS enters into certain transactions where it transfers financial assets recognized on its balan ce sheet but retains either all or a portion of the risks and rewards of the transferred financial assets. If all or substantially all of the risks and rewards are retained, the transferred financial assets are not derecognized from the balance sheet; for example, securities lending and repurchase transactions or where financial assets are sold to a third party with a total return swap resulting in UBS retaining all or substantially all of the risks and rewards of the transferred assets. These types of tran sactions are accounted for as secured financing transactions as described in item 3e of this Note . In transactions where substantially all of the risks and rewards of ownership of a financial asset are neither retained nor transferred, UBS derecognizes th e financial asset if control over the asset is surrendered , and the rights and obligations retained following the transfer are recognized separately as assets and liabilities, respectively. In transfers where control over the financial asset is retained, U BS continues to recognize the asset to the extent of its continuing involvement, determined by the extent to which it is exposed to changes in the value of the transferred asset following the transfer. Certain over-the-counter (OTC) derivative contracts a nd most exchange-traded futures and options contracts cleared through central cl earing counterpartie s are considered to be settled on a daily basis through the daily margining process, as the payment or receipt of the variation margin represents legal or e conomic settlement of a derivative contract, which results in derecognition of the associated positive and negative replacement values. Refer to Note 2 4 for more information Financial liabilities UBS derecognizes a financial liability from its balance sheet when it is extinguished, that is, when the obligation specified in the contract is discharged, canceled or has expired. When an exi sting financial liability is exchanged for a new one from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification results in derecognition of the original liabilit y and the recognition of a new liability with any difference in the respective carrying amounts being recognized in the income statement. |
Fair value of financial instruments | f. Fair value of financial instruments UBS accounts for a significant portion of its assets and liabilities at fair value. Fair value is the price on the measurement date that would be received for the sale of an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market, or in the most advantageous market in the absence of a principal market. All financial instruments measured at fair value are categorized into one of three fair value hierarchy levels. Level 1 financial instruments are those for which fair values can be derived from quoted prices in active markets. Level 2 financial instruments are those for which fair values must be derived using valuation techniques for which all significant inputs are, or are based on, observable market data. Level 3 financial instruments are those for which fair values can only be derived on the basis of valuation techniques for which significant inputs are not based on observable market data. Critical accounting estimates and judgments The use of valuation techniques, modeling assumptions and estimates of unobservable market inputs require significant judgment and could affect the amount of gain or loss recorded for a p articular position. Valuation techniques that rely more heavily on unobservable inputs require a higher level of judgment to calculate a fair value than those entirely based on observable inputs. Valuation techniques, including models, that are used to de termine fair values are periodically reviewed and validated by qualified personnel, independent of those who created them. Models are calibrated to ensure that outputs reflect observable market data, to the extent possible. Also, models prioritize the use of observable inputs, when available, over unobservable inputs. Judgment is required in selecting appropriate models as well as inputs for which observable data is less readily or not available. UBS‘s valuation techniques may not fully reflect all the fac tors relevant to the fair value of financial instruments held. Valuations are therefore adjusted, where appropriate, to allow for additional factors, including credit risk, model risk and liquidity risk. UBS‘s governance framework over fair value measureme nt is described in Note 22b. The level of subjectivity and the degree of management judgment involved in the development of estimates and the selection of assumptions are more significant for instruments valued using specialized and sophisticated models a nd where some or all of the parameter inputs are less observable (Level 3 instruments) and may require adjustment to reflect factors that market participants would consider in estimating fair value, such as close-out costs, credit exposure, model-driven va luation uncertainty, funding costs and benefits, trading restrictions and other factor s, whic h are presented in Note 22 d . The Group provides a sensitivity analysis of the estimated effects arising from changing significant unobservable inputs in Level 3 fi nancial instruments to reasonably possible alternative assumptions within Note 22g. Refer to Note 22 for more information |
Impairment of financial assets | g. Allowances and provisions for credit losses A claim is impaired and an allowance or provision for credit losses is recognized when objective evidence demonstrates that a loss event has occurred after the initial recognition and that the loss event has an impact on the future cash flows that can be reliably estimated (incurred loss approach) . UBS considers a claim to be impaired if it will be unable to collect all amounts due on it based on the original contractual terms due to credit deterioration of th e issuer or counterparty. A claim can be a loan or receivable carried at amortized cost, or a commitment, such as a letter of credit, a guarantee or a similar instrument. An allowance for credit losses is reported as a decrease in the carrying value of a financial asset . For an off-balance sheet item, such as a commitment, a provision for credit loss is reported in Provisions . Changes to allowances and provisions for credit losses are recognized in Credit loss expense / recovery . Refer to Notes 10 and 11 f or more information Critical accounting estimates and judgments Allowances and provisions for credit losses are evaluated at both a counterparty-specific level and collectively. Judgment is used in making assumptions about the timing and amount of impairm ent losses. Counterparty-specific allowances and provisions Loans are evaluated individually for impairment if objective evidence indicates that a loan may be impaired. Individual credit exposures are evaluated on the basis of the borrower’s overall financ ial condition, resources and payment record, the prospects of support from contractual guarantors and, where applicable, the realizable value of any collateral. The impairment loss for a loan is the excess of the carrying value of the financial asset over the estimated recoverable amount. The estimated recoverable amount is the present value, calculated using the loan’s original effective interest rate, of expected future cash flows, including amounts that may result from restructuring or the liquidation of collateral. If a loan has a variable interest rate, the discount rate for calculating the recoverable amount is the current effective interest rate. Upon impairment, interest income is accrued by applying the original effective interest rate to the impair ed carrying value of the loan. All impaired loans are reviewed and analyzed at least annually. Any subsequent changes to the amounts and timing of the expected future cash flows compared with prior estimates result in a change in the allowance for credit l osses and are charged or credited to Credit loss expense / recovery . An allowance for impairment is reversed only when the credit quality has improved to such an extent that there is reasonable assurance of timely collection of principal and interest in ac cordance with the original contractual terms of the instrument , or the equivalent value thereof. A write-off is made when all or part of a financial asset is deemed uncollectible or forgiven. Write-offs reduce the principal amount of a claim and are charged against previously established allowances for credit losses . Recoveries, in part or in full, of amounts previously written off are credited to Credit loss expense / recovery. Collective allowances and provisions Collective allowances and p rovisions are calculated for portfolios with similar credit risk characteristics, taking into account historical loss experience and current conditions. The methodology and assumptions used are reviewed regularly to reduce any differences between estimated and actual loss experience. For all of its portfolios, UBS also assesses whether there have been any unforeseen developments that mi ght result in impairments that are not immediately observable at a counterparty level. To determine whether an event-driven collective allowance for credit losses is required, UBS considers global economic drivers to assess the most vulnerable countries and industries. As the allowance cannot be allocated to individual loans, the loans are not considered to be impaired and int erest is accrued on each loan according to its contractual terms. If objective evidence becomes available that indicates that an individual financial asset is impaired, it is removed from the group of financial assets assessed for impairment on a collectiv e basis and is assessed separately as counterparty-specific. i. Impairment of financial assets classified as available for sale At each balance sheet date, UBS assesses whether indicators of impai rment are present. Available-for-sale debt instruments are impaired when there is objective evidence, using the same criteria described in item 3 g, that, as a result of one or more events that occurred after the initial recognition of the asset, the estima ted future cash flows have decreased. Objective evidence that there has been an impairment of an available-for-sale equity instrument is a significant or prolonged decline in the fair value of the asset. UBS uses a rebuttable presumption that such instrum ents are impaired where there has been a decline in fair value of more than 20% below its original cost or fair value has been below original cost for more than six months. To the extent a financial asset classified as available for sale is determined to be impaired, the related cumulative net unrealized loss previously recognized in Other comprehensive income is reclassified to the income statement within Other income . For equity instruments, any further loss is recognized directly in the income statement , whereas for debt instruments, any further loss is recognized in the income statement only if there is additional objective evidence of impairment. After the recognition of an impairment on a financial asset classified as available for sale, increases in the fair value of equity instruments are reported in Other comprehensive income. For debt instruments, such increases in the fair value, up to amortized cost in the transaction currency, are recognized in Other income, provided that the fair value increase is related to an event occurring after the impairment loss was recorded. Increases in excess of that amount are reported in Other comprehensive income . |
Netting | j. Netting UBS nets financial assets and liabilities on its balance sheet if (i) it has the unconditio nal and legally enforceable right to set off the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS and its counterparties, and (ii) intends either to settle on a net basis or to realize t he asset and settle the liability simultaneously. Netted positions include, for example, certain derivatives and repurchase and reverse repurchase transactions with various counterparties, exchanges and clearing houses. In assessing whether UBS intends to either settle on a net bas is, or to realize the asset and settle the liability simultaneously, emphasis is placed on the effectiveness of operational settlement mechanics in eliminating substantially all credit and liquidity exposure between the counterpar ties. This condition precludes offsetting on the balance sheet for substantial amounts of UBS’s financial assets and liabilities, even though they may be subject to enforceable netting arrangements. For OTC derivative contracts, balance sheet offsetting is generally only permitted in circumstances in which a market settlement mechanism exists via an exchange o r central clearing counterparty that effectively accomplishes net settlement through a daily exchange of collateral via a cash margining process. For repurchase arrangements and securities financing transactions, balance sheet offsetting may be permitted only to the extent that the settlement mechanism eliminates, or results in insignificant, credit and liquidity risk, and processes the receivables and payables in a single settlement process or cycle. Refer to Note 24 for more information |
Description Of Accounting Policy For Derivative Financial Instruments And Hedging Explanatory | k. Hedge accounting At the time a financial instrument is designated in a hedge relationship, UBS AG formally documents the relationship between the hedging instrument(s) and hedged item(s), including the risk management objectives and strategy in undertaking the hedge transaction and the methods that will be used to assess the effectiveness of the hedging relationship. Accordingly, UBS AG assesses, both at th e inception of the hedge and on an ongoing basis, whether the hedging instruments, primarily derivatives, have been “highly effective” in offsetting changes in the fair value or cash flows associated with the designated risk of the hedged items. A hedge is considered highly effective if the following criteria are met: (i) at inception of the hedge and throughout its life, the hedge is expected to be highly effective in achieving offsetting changes in fair value or cash flows attributable to the hedged risk and (ii) actual results of the hedge are within a range of 80–125%. In the case of hedging forecast transactions, the transaction must have a high probability of occurring and must present an exposure to variations in cash flows that could ultimately affec t the reported net profit or loss. UBS AG discontinues hedge accounting when (i) it determines that a hedging instrument is not, or has ceased to be, highly effective as a hedge, (ii) the derivative expires or is sold, terminated or exercised, (iii) the he dged item matures, is sold or repaid or (iv) forecast transactions are no longer deemed highly probable. UBS AG may also discontinue hedge accounting voluntarily. Hedge ineffectiveness represents the amount by which the changes in the fair value of the hed ging instrument differ from changes in the fair value of the hedged item attributable to the hedged risk, or the amount by which changes in the present value of future cash flows of the hedging instrument exceed changes in the present value of expected cas h flows of the hedged item. Such ineffectiveness is recorded in current period earnings in Net trading income. Interest from derivatives designated as hedging instruments in effective fair value hedge relationships is presented within Interest income from loans and deposits and Interest expense on debt issued , within Net interest income . Interest from derivatives designated as hedging instruments in effective cash flow hedge relationships that is reclassified from other comprehensive income when the hedged transaction affects profit or loss is presented within Interest income from derivative instruments designated as cash flow hedges . Refer to Note 3 for more information Fair value hedges For qualifying fair value hedges, the change in the fair value of t he hedging instrument is recognized in the income statement along with the change in the fair value of the hedged item that is attributable to the hedged risk. In fair value hedges of interest rate risk, the fair value change of the hedged item attributabl e to the hedged risk is reflected as an adjustment to the carrying value of the hedged item. If the hedge accounting relationship is terminated for reasons other than the derecognition of the hedged item, the adjustment to the carrying value is amortized t o the income statement over the remaining term to maturity of the hedged item using the effective interest rate method. For a portfolio hedge of interest rate risk, the equivalent change in fair value is reflected within Other assets or Other liabilities . If the portfolio hedge relationship is terminated for reasons other than the derecognition of the hedged item, the amount included in Other assets or Other liabilities is amortized to the income statement over the remaining term to maturity of the hedged i tems using the straight-line method. Cash flow hedges Fair value gains or losses associated with the effective portion of derivatives designated as cash flow hedges for cash flow repricing risk are recognized initially in Other comprehensive income within Equity. When the hedged forecast cash flows affect profit or loss, the associated gains or losses on the hedging derivatives are reclassified from Equity to the income statement. If a cash flow hedge of forecast transactions is no longer considered effecti ve, or if the hedge relationship is terminated, the cumulative gains or losses on the hedging derivatives previously reported in Equity remain there u ntil the committed or forecast transactions occur and affect p rofit or loss. If the forecast transactions are no longer expected to occur, the deferred gains or losses are reclassified immediately to the income statement. Hedges of net investments in foreign operations Hedges of net investments in foreign operations are accounted for similarly to cash flow hed ges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized directly in Equity (and presented in the statement of changes in equity and statement of comprehensive income under Foreign currency translation ), while any gains or losses relating to the ineffective and / or undesignated portion (for example, the interest element of a forward contract) are recognized in the income statement. Upon disposal or partial disposal of the foreign operation, the cumulative value of any such gains or losses recognized in Equity associated with the entity is reclassified to the income statement. Economic hedges that do not qualify for hedge accounting Derivative instruments that are transacted as economic hedges, but do not qualify for hedge accounting, are treated in the same way as derivative instruments used for trading purposes (i.e., realized and unrealized gains and losses are recognized in Net trading income ), except for the forward points on certain short d uration foreign exchange contracts, which are reported in Net interest income . Refer to Note 12 for more information l . Em bedded derivatives Derivatives may be embedded in other financial instruments (host contracts). For example, they could be represented by the conversion feature embedded in a convertible bond. Such hybrid instruments arise predominantly from the issuance of certain structured debt instruments . An embedded derivative is generally required to be separated from the host contract and accounted for as a standalone derivative instrument at fair value through profit or loss if (i) the host contract is not carried at fair value with changes in fair va lue reported in the income statement, (ii) the economic characteristics and risks of the embedded derivative are not closely related to the economic characteristics and risks of the host contract and (iii) the terms of the embedded derivative would meet th e definition of a standalone derivative, were they contained in a separate contract. Typically, UBS AG applies the fair value option to hybrid instruments (refer to item 3b in this Note for more information), in which case bifurcation of an embedded deriv ative component is not required. |
Financial guarantee contracts | p. Financial guarantee contracts Financial guarantee contracts are contracts that require the issuer to make specified payments to reimburse the holder for an incurred loss because a specified debtor fails to make payments when due in accordance with the terms of a specified debt instrument. UBS issues such financial guarantees to banks, financial institutions and other parties on behalf of clients to secure loans, overdrafts and other banking facilities. Certain issued fin ancial guarantees that are managed on a fair value basis are designated at fair value through profit or loss. Financial guarantees tha t are not managed on a fair value basis are initially recognized in the financial statements at fair value and are subsequently measured at the higher of the amount initially recogniz ed less cumulative amortization and , to the extent a payment under the gu arantee has become probable, the present value of the expected payment. Any change in the liability relating to probable expected payments resulting from guarantees is recorded in the income statement in Credit loss expense / recovery . |
Fee income | 4) Fee income UBS ea rns fee income from a diverse range of services it provides to its clients. Fee income can be divided into two broad categories: (i) fees earned from services that are provided over a certain period of time, such as portfolio management and advisory fees, and (ii) fees earned from providing transaction-type services, such as underwriting fees, corporate finance fees and brokerage fees. Fees earned from services that are provided over a certain period of time are recognized ratably over the service period, with the exception of performance -linked fees or fee components with specific performance criteria. Such fees are recognized when , as of the reporting date, the performance benchmark has been met and when collect i bility is reasonably assured. Fees earned from providing transaction-type services are recognized when the service has been completed and the fee is fixed or determinable, i.e., not subject to refund or adjustment. Fee income generated from providing a service that does not result in the recogniti on of a financial instrument is presented within Net fee and commission income. Fees generated from the acquisition, issue or disposal of a financial instrument are presented in the income statement in line with the balance sheet classification of that fin ancial instrument. Refer to Note 4 for more information |
Cash and cash equivalents | 5) Cash and cash equivalents For the purposes of the statement of cash flows, cash and cash equivalents comprise balances with an original maturity of three months or less, including cash, money mark et paper and balances with central and other banks. |
Equity participation and other compensation plans | 6) Share-based and other deferred compensation plans UBS Group AG is the grantor of and maintains the obligation to settle share-based compensation plans that are awarded to employees of UBS AG. UBS AG recognizes the fair value of awards granted to its employees. These awards are generally subject to conditions that require employees to complete a specified period of service and, for performance shares, to satisfy s pecified performance conditions. Compensation expense is recognized, on a per tranche basis, over the service period based on an estimate of the number of instruments expected to vest and is adjusted to reflect actual outcomes. Where the service period is shortened, for example in the case of employees affected by restructuring programs or mutually agreed termination provisions, recognition of expense is accelerated to the termination date. Where no future service is required, such as for employees who are retirement eligible or who have met certain age and length-of-service criteria, the services are presumed to have been received and compensation expense is recognized immediately on, or prior to, the date of grant. Such awards may remain forfeitable until the legal vesting date if certain non-vesting conditions are not met. For equity-settled awards, forfeiture events resulting from breach of a non-vesting condition do not result in an adjustment to expense. UBS AG has no obligation to settle the awards and therefore awards over UBS Group AG shares are classified as equity-settled share-based payment transactions. Compensation expense is measured by reference to the fair value of UBS Group AG equity instruments on the date of grant adjusted, when relevant, t o take into account the terms and conditions inherent in the award, including dividend rights, transfer restrictions in effect beyond the vesting date, and non-vesting conditions. Fair value is determined at the date of grant and is not remeasured unless i ts terms are modified such that the fair value immediately after modification exceeds the fair value immediately prior to modification. Any increase in fair value resulting from a modification is recognized as compensation expense, either over the remainin g service period or, for vested awards, immediately. Refer to Note 27 for more information Other compensation plans The employees of UBS AG are granted deferred compensation plans that are settled in cash or financial instruments other than UBS AG equity , the amount of which may be fixed or may vary based on the achievement of specified performance conditions or the val ue of specified underlying assets. Compensation expense is recognized over the period that the employee provides services to become entitled to the award. Where the service period is shortened, for example in the case of employees affected by restructuring programs or mutually agreed termination provisions, recognition of expense is accelerated to the termination date. Where no future service is required, such as for employees who are retirement eligible or who have met certain age and length-of-service cri teria, the services are presumed to have been received and compensation expense is recognized immediately on, or prior to, the date of grant. The amount recognized is based on the present value of the amount expected to be paid under the plan and is remeas ured at each reporting date, so that the cumulative expense recognized equals the cash or the fair value of respective financial instruments distributed. Refer to Note 27 for more information |
Pension and other post-employment benefit plans | 7) Pension and other post-employment benefit plans UBS sponsors various post-employment benefit plans for its employees worldwide, whi ch include defined benefit and defined contribution pension plans, and other post-employment benefits such as medical and life insurance benefits that are payable after the completion of employment. Refer to Note 26 for more information Defined benefit pension plans Defined benefit pension plans specify an amount of benefit that an employee will receive, which usually depends on one or more factors , such as age, years of service and compensation. The defined benefit liability recognized in the balance sh eet is the present value of the defined benefit obligation less the fair value of the plan assets at the balance sheet date with changes resulting from remeasurements recorded immediately in Other comprehensive income . If the fair value of the plan assets is higher than the present value of the defined benefit obligation, the recognition of the resulting net defined benefit asset is limited to the present value of economic benefits available in the form of refunds from the plan or reductions in future contr ibutions to the plan. UBS applies the projected unit credit method to determine the present value of its defined benefit obligations, the related current service cost and, where applicable, past service cost. The projected unit credit method sees each peri od of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation. These amounts, which take into account the specific features of each plan, including risk sharing between employee and employer, are calculated periodically by independent qualified actuaries. Critical accounting estimates and judgments The net defined benefit liability or asset at the balance sheet date and the related personnel expense depend on the expected future benefits to be provided, determined using a number of economic and demographic assumptions. A range of assumptions could be applied , and different assumptions could significantly alter the defined benefit liability or asset and pension expense recognized. The most significant assumptions include life expectancy, the discount rate, expected sala ry increases, pension increases and , in ad dition for the Swiss plan and one of the US defined benefit pension plans, interest credits on retirement savings account b alances. Life expectancy is determined by reference to published mortality tables. The discount rate is determined by reference to the rates of return on high-quality fixed-income investments of appropriate currency and term at the measurement date. The as sumption for salary increases reflects the long-term expectations for salary growth and takes into account historical salary development by age groups, expected inflation and expected supply and demand in the labor market. A sensitivity analysis for reason able possible movements in each significant assumption for UBS‘s post-employment obligations is provided within Note 26 . Defined contribution plans A defined contribution plan is a pension plan under which UBS pays fixed contributions into a separate enti ty from which post-employment and other benefits are paid. UBS has no legal or constructive obligation to pay further contributions if the plan does not hold sufficient assets to pay employees the benefits relating to employee service in the current and pr ior periods. UBS’s contributions are expensed when the employees have rendered services in exchange for such contributions. This is generally in the year of contribution. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in future payments is available. Other post- employment benefits UBS also provides post- employment medical insurance benefits to certain retirees in the US and the UK. The expected costs of these benefits are recognized over the period of employ ment using the same accounting methodology used for defined benefit pension plans. |
Income taxes | 8) Income taxes UBS is subject to the income tax laws of Switzerland and those of the non-Swiss jurisdictions in which UBS has business operations. The Group’s provision fo r income taxes is composed of current and deferred taxes. Current income taxes represent taxes to be paid or refunded for the current period or previous periods . Deferred taxes are recognized for temporary differences between the carrying amounts and tax bases of assets and liabilities that will result in taxable or deductible amounts in future periods and are measured using the applicable tax rates and laws that have been enacted or substantively enacted by the end of the reporting period and which will b e in effect when such differences are expected to reverse . Deferred tax assets arise from a variety of sources, the most significant being: (i) tax losses that can be carried forward to be used against profits in future years and (ii) expenses recognized i n the Group ‘s income statement that are not deductible until the associated cash flows occur. Deferred tax assets are recognized only to the extent that it is probable that sufficient taxable profits will be available against which these differences can be used . When an entity or tax group has a history of recent losses, deferred tax assets are only recognized to the extent there are sufficient taxable temporary differences or there is convincing other evidence that sufficient taxable profit will be availab le against which the unused tax losses can be utilized . Deferred tax liabilities are recognized for temporary differences between the carrying amounts of assets and liabilities in the balance sheet that reflect the expectation that certain items will give rise to taxable income in future periods. Deferred and current tax assets and liabilities are offset when (i) they arise in the same tax reporting group, (ii) they relate to the same tax authority, (iii) t he legal right to offset exists and (iv) they are intended to be settled net or realized simultaneously. Current and deferred taxes are recognized as income tax benefit or expense in t he income statement except for current and deferred taxes recognized (i) upon the acquisition of a subsidiary, (ii) for unrealized gains or losses on financial instruments that are classified as available for sale, (iii) for changes in fair value of deriva tive instruments designated as cash flow hedges, (iv) for remeasurem ents of defined benefit plans, (v) for certain foreign currency translations of foreign operations and ( v i) for gains and losses on the sale of treasury shares. Amounts relating to points (ii) , (iii) , ( iv ) and (v) are recognized in Other comprehensive income within Equity . Critical accounting estimates and judgments Tax laws are complex and judgment and interpretations about the application of such laws are required when accounting for inc ome taxes. UBS considers the performance of its businesses and the accuracy of historical forecasts and other factors in evaluating the recoverability of its deferred tax assets, including the remaining tax loss carry-forward period, and its assessment of expected future taxable profits in the forecast period used for recognizing deferred tax assets. Estimating future profitability is inherently subjective and is particularly sensitive to future economic, market and other conditions , which are difficult to predict. The level of deferred tax asset recognition is influenced by management’s assessment of UBS ’ s future profitability based on relevant business plan forecasts. Existing assessments are reviewed and, if necessary, revised to reflect changed circumst ances. This review is conducted annually, in the second half of each year, but adjustments may be made at other times, if required. In a situation where recent losses have been incurred, convincing evidence that there will be sufficient future profitabilit y is required . If profit forecast assumptions in future periods deviate from the current outlook, the value of UBS ’ s deferred tax assets may be affected. A ny increase or decrease in the carrying amount of deferred tax assets would primarily be recognized t hrough the income statement but would not affect cash flows. Judgment is also required to forecast the expected outcome of uncertain tax positions that may require the interpretation of tax laws and the resolution of any income tax- related appeals or litigation that are incorporated into the estimate of income and deferred tax. Refer to Note 8 for more information |
Investment in associates | 9) Investment in associates Entities where UBS has significant influence over the financial and operating policies of the entity, but does not have control, are classified as investments in associates and accounted for under the equity method of accounting. Typically, UBS has significant influence when it holds or has the ability to hold between 20% and 50% of a company’s voting rights. Inve stments in associates are initially recognized at cost, and the carrying amount is increased or decreased after the date of acquisition to recognize the Group’s share of the investee’s comprehensive income and any impairment losses. The net investment in an associate is impaired if there is objective evidence of a loss event and the carrying value of the investment in the associate is below its recoverable amount . Refer to Note 28 for more information |
Property, equipment and software | 10) Property, equipment and software Property, equipme nt and software includes own-used properties, leasehold improvements, information technology hardware, externally purchased and internally generated software, as well as communication and other similar equipment. Property, equipment and software is carried at cost less accumulated dep reciation and impairment losses and is reviewed at each reporting date for indication for impairment. Software development costs are capitalized only when the costs can be measured reliably and it is probable that future econom ic benefits will arise. Depreciation of property, equipment and software begins when they are available for use, that is, when they are in the location and condition necessary for them to be capable of operating in the manner intended by management. Deprec iation is calculated on a straight-line basis over an asset ‘s estimated useful life. The estimated useful economic lives of UBS‘s property, equipment and software are: properties, excluding land: ≤ 67 years IT hardware and communication equipment: ≤ 7 yea rs other machines and equipment: ≤ 10 years software: ≤ 10 years leasehold improvements: shorter of the lease term or the economic life of asset (typically ≤ 20 years) Refer to Note 14 for more information |
Goodwill and intangible assets | 11) Goodwill and intangible assets Goodwill represents the excess of the cost of an acquisition over the fair value of the Group‘s share of net identifiable assets of the acquired entity at the date of the acquisition. Goodwill is not amortized, but at the end of each reporting period or when indicators of impairment exist, UBS assesses whether there is any indication that goodwill i s impaired. If such indicators exist, UBS is required to test the goodwill for impairment. Irrespective of whether there is any indication of impairment, UBS tests goodwill for impairment annually. UBS considers the segments, as reported in Note 2a, as sep arate cash-generating units, since this is the level at which the performance of investments is reviewed and assessed by management. The impairment test is performed for each segment to which goodwill is allocated by comparing the recoverable amount, based on its value-in-use, to the carrying amount of the respective segment. An impairment charge is recognized if the carrying amount exceeds the recoverable amount. If the estimated earnings and other assumptions in future periods deviate from the current ou tlook, the value of UBS‘s goodwill may become impaired in the future, giving rise to losses in the income statement. Recognition of any impairment of goodwill would reduce net profit and equity, but would not affect cash flows. Intangible assets are compri sed of separately identifiable intangible items arising from business combinations and certain purchased trademarks and similar items. Intangible assets are recognized at cost. The cost of an intangible asset acquired in a business combination is its fair value at the date of acquisition. Intangible assets with a finite useful life are amortized using the straight-line method over their estimated useful life, generally not exceeding 20 years. In rare cases, intangible assets can have an indefinite useful li fe, in which case they are not amortized. At each reporting date, intangible assets are reviewed for indications of impairment. If such indications exist, the intangible assets are analyzed to assess whether their carrying amount is fully recoverable. An i mpairment loss is recognized if the carrying amount exceeds the recoverable amount. Critical accounting estimates and judgments UBS‘s methodology for goodwill impairment testing is based on a model that is most sensitive to the following key assumptions: (i) forecasts of earnings available to shareholders in years one to three, (ii) changes in the discount rates and (iii) changes in the long-term growth rate. Key assumptions used to determine the recoverable amounts of each segment are tested for sensitivi ty by applying a reasonably possible change to those assumptions. R efer to Note 15 for the discussion of how the reasonably possible changes in those key assumptions may affect the results delivered by UBS‘s model for goodwill impairment testing. Refer to Notes 2 and 15 for more information |
Provisions and contingent liabilities | 12) Provisions and contingent liabilities Provisions are liabilities of uncertain timing or amount, and are recognized when (i) UBS has a present obligation as a result of a past event, (ii) it is probable that an outflo w of resources will be re quired to settle the obligation and (iii) a reliable estimate of the amount of the obligation can be made. The majority of UBS’s provisions relate to litigation, regulatory and similar matters, restructuring, employee benefits, re al estate and loan commitments and guarantees. The Group recognizes provisions for litigation, regulatory and similar matters when, in the opinion of management after seeking legal advice, it is more likely than not that the Group has a present legal or c onstructive obligation as a result of past events, it is probable that an outflow of resources will be required, and the amount can be reliably estimated. Where these factors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against the Group, but are nevertheless expected to be, based on the Group’s experience with similar asserted claims. Restructuring provisions are recognized when a detailed and formal restructuring plan has been approved and a valid expe ctation has been raised that the restructuring will be carried out, either through commencement of the plan or announcements to affected employees. Provisions are recognized for lease contracts if the unavoidable costs of a contract exceed the benefits exp ected to be received under it (onerous lease contracts). For example, this may occur when a significant portion of a leased property is expected to be vacant for an extended period. Provisions for employee benefits are recognized mainly in respect of servi ce anniversaries and sabbatical leave. Provisions are recognized at the best estimate of the consideration required to settle the present obligation at the balance sheet date. Such estimates are based on all available information and are revised over time as more information becomes available. If the effect of the time value of money is material, provisions are discounted and measured at the present value of the expenditure expected to settle or discharge the obligation, using a rate that reflects the curre nt market assessments of the time value of money and the risks specific to the obligation. Provisions that are similar in nature are aggregated to form a class, while the remaining provisions, including those of less significant amounts , are presented und er Other provisions . Provisions are presented separately on the balance sheet and, when they are no longer considered uncertain in timing or amount, are reclassified to Other liabilities – Other . When all conditions required to recognize a provision are not met, a contingent liability is disclosed, unless the likelihood of an outflow of resources is remote , in which case no provision is recognized and no contingent liability is reported . Contingent liabilities are also disclosed for possible obligations t hat arise from past events whose existence will be confirmed only by uncertain future events not wholly within the control of UBS. Such disclosures are not made if it is not practicable to do so. Critical accounting estimates and judgments Recognition of provisions often involves significant judgment in assessing the existence of an obligation that results from past events and in es timating the probability, timing and amount of any outflows of resources. This is particularly the case for litigation, regulatory and similar matters, which, due to their nature, are subject to many uncertainties making their outcome difficult to predict. Such matters may involve unique fact patterns or novel legal theories, proceedings that have not yet been initiated or are at early stages of adjudication, or as to which alleged damages have not been quantified by the claimants. Determining whether an ob ligation exists as a result of a past event and estimating the probability, timing and amount of any potential outflows is based on a variety of assumptions, variables, and known and unknown uncertainties. The amount of any provision recognized is sensitiv e to the assumptions used and there could be a wide range of possible outcomes for any particular matter. Statistical or other quantitative analytical tools are of limited use in determining whether to establish or determine the amount of provisions in the case of litigation, regulatory or similar matters. Furthermore, information currently available to management may be incomplete or inaccurate, increasing the risk of erroneous assumptions with regard to the future development of such matters. Management r egularly reviews all the available information regarding such matters, including legal advice, which is a significant consideration, to assess whether the recognition criteria for provisions have been satisfied and to determine the timing and amount of any potential outflows . Refer to Note 20 for more information |
Foreign currency translation | 13) Foreign currency translation Transactions denominated in a foreign currency are translated into the functional currency of the reporting entity at the spot exchange rate on the date of the tra nsaction. At the balance sheet date, all monetary assets and liabilities denominated in foreign currency are translated into the functional currency using the closing exchange rate. Non-monetary items measured at historical cost are translated at the excha nge rate on the date of the transaction. Foreign currency translation differences on non-monetary financial assets classified as available for sale are generally recorded directly in Equity until the asset is sold or becomes impaired. However, translation differences on available - for - sale monetary financial assets are reported in Net trading income on an amortized - cost basis, along with all other foreign currency translation differences on monetary assets and liabilities. Upon consoli dation, assets and liabilities of foreign operations are translated into Swiss francs (CHF), UBS’s presentation currency, at the closing exchange rate on the balance sheet date, and income and expense items are translated at the average rate for the period . The resulting foreign currency translation differences attributable to shareholders are recognized directly in Foreign currency translation within Equity, which forms part of Total equity attributable to shareholders , whereas the foreign currency transla tion differences attributable to non-controlling interests are shown within Equity attributable to non-controlling interests . When a foreign operation is disposed or partially disposed of and UBS loses control over the foreign operation, the cumulative am ount of foreign currency translation differences within Total equity attributable to shareholders and Equity attributable to non-controlling interests related to that foreign operation is reclassified to the income statement as part of the gain or loss on disposal. When UBS disposes of a portion of its interest in a subsidiary that includes a foreign operation but retains control, the related portion of the cumulative currency translation balance is reclassified to Equity attributable to non-controlling int erests . Refer to Note 34 for more information |
Leasing | 15) Leasing UBS enters into lease contracts, or contracts that include lease components, predominantly of premises and equipment, and primarily as lessee. Leases that transfer subs tantially all the risks and rewards, but not necessarily legal title in the underlying assets, are classified as finance leases. All other leases are classified as operating leases. UBS is not a lessee in any material finance leases. Lease contracts classi fied as operating leases where UBS is the lessee include non- cancelable long-term leases of office buildings in most UBS locations. Operating lease rentals payable are recognized as an expense on a straight-line basis over the lease term, which commences w ith control of the physical use of the property. Lease incentives are treated as a reduction of rental expense and are recognized on a consistent basis over the lease term. Where UBS acts as lessor under a finance lease, a receivable is recognized in Loans at an amount equal to the present value of the aggregate of the minimum lease payments plus any unguaranteed residual value that UBS expects to recover at the end of the lease term. Initial direct costs are also included in the initial measurement of the lease receivable. Lease payments received during the lease term are allocated to repayment of the outstanding receivable and interest income to reflect a constant periodic rate of return on UBS’s net investment using the interest rate implicit in the lease . UBS reviews the estimated unguaranteed residual value annually , and if the estimated residual value to be realized is less than the amount assumed at lease inception, a loss is recognized for the expected shortfall. Certain arrangements do not take the legal form of a lease but convey a right to use an asset in return for a payment or series of payments. For such arrangements, UBS determines at the inception of the arrangement whether the fulfillment of the arrangement is dependent on the use of a specif ic asset or assets , and if so, the arrangement is accounted for as a lease. Refer to Notes 10 and 31 for more information |
Non-controlling interests and preferred noteholders | 14) Non-controlling interests and preferred noteholders Net profit is split into Net profit attributable to shareholders , Net profit attributable to non-controlling interests and Net profit attributabl e to preferred noteholders . Similarly, Equity is split into Equity attributable to shareholders , Equity attributable to non-controlling inte rests and Equity attributable to preferred noteholders |
Segment reporting (Tables)
Segment reporting (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting Note [Line Items] | |
Disclosure Of Operating Segments Explanatory | Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2017 Net interest income 2,088 1,561 1,916 (32) 1,194 (348) 126 23 6,528 Non-interest income 5,285 6,676 1,772 2,058 6,891 75 (137) 48 22,667 Allocations from CC Group ALM 256 115 181 18 (344) 120 (264) (83) 0 Income 1 7,629 8,353 3,869 2,044 7,740 (153) (276) (11) 29,195 Credit loss (expense) / recovery (4) (4) (19) 0 (90) 0 0 (11) (128) Total operating income 7,625 8,349 3,850 2,044 7,651 (153) (276) (22) 29,067 Personnel expenses 2,354 5,173 836 716 2,949 3,785 34 43 15,889 General and administrative expenses 594 644 290 231 662 4,247 26 114 6,808 Services (to) / from CC and other BDs 2,372 1,282 1,133 514 2,769 (8,281) (13) 224 0 of which: services from CC Services 2,294 1,262 1,227 551 2,676 (8,345) 142 194 0 Depreciation and impairment of property, equipment and software 3 2 13 1 10 1,004 0 0 1,033 Amortization and impairment of intangible assets 2 7 41 0 3 12 7 0 0 70 Total operating expenses 3 5,330 7,141 2,272 1,466 6,402 762 47 381 23,800 Operating profit / (loss) before tax 2,295 1,208 1,578 578 1,249 (914) (322) (403) 5,268 Tax expense / (benefit) 4,139 Net profit / (loss) 1,128 Additional Information Total assets 123,003 67,071 135,556 14,269 262,931 20,875 245,737 46,200 915,642 Additions to non-current assets 89 27 15 1 3 1,573 0 0 1,707 1 Impairments of financial assets available for sale for the year ended 31 December 2017 totaled CHF 15 million, of which CHF 13 million was recorded in Asset Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2016 Net interest income 1,932 1,347 1,892 (33) 1,006 (322) 589 3 6,413 Non-interest income 4,975 6,320 1,768 1,957 6,953 183 (295) 84 21,944 Allocations from CC Group ALM 389 118 332 7 (260) 36 (512) (110) 0 Income 1 7,296 7,785 3,990 1,931 7,699 (102) (219) (23) 28,357 Credit loss (expense) / recovery (5) (3) (6) 0 (11) 0 0 (13) (37) Total operating income 7,291 7,782 3,984 1,931 7,688 (102) (219) (36) 28,320 Personnel expenses 2,349 4,819 845 727 3,082 3,801 31 66 15,720 General and administrative expenses 640 570 285 241 805 4,145 17 732 7,434 Services (to) / from CC and other BDs 2,348 1,235 1,080 506 2,765 (8,164) (49) 280 0 of which: services from CC Services 2,256 1,221 1,186 530 2,675 (8,204) 110 225 0 Depreciation and impairment of property, equipment and software 2 2 15 1 21 944 0 0 985 Amortization and impairment of intangible assets 2 4 50 0 4 12 21 0 0 91 Total operating expenses 3 5,343 6,675 2,224 1,479 6,684 747 (1) 1,078 24,230 Operating profit / (loss) before tax 1,948 1,107 1,760 452 1,004 (849) (218) (1,114) 4,090 Tax expense / (benefit) 805 Net profit / (loss) 3,286 Additional Information Total assets 115,539 65,882 139,912 12,028 242,302 23,669 267,200 68,485 935,016 Additions to non-current assets 26 4 23 1 3 1,759 0 0 1,816 1 Impairments of financial assets available for sale for the year ended 31 December 2016 totaled CHF 5 million, of which CHF 3 million was recorded in Asset Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2015 Net interest income 1,825 1,067 1,890 (34) 1,573 (340) 730 21 6,732 Non-interest income 5,859 6,213 1,603 2,077 7,526 435 378 (101) 23,990 Allocations from CC Group ALM 471 104 421 15 (211) 145 (832) (114) 0 Income 1 8,155 7,384 3,913 2,057 8,889 241 277 (195) 30,722 Credit loss (expense) / recovery 0 (4) (37) 0 (68) 0 0 (8) (117) Total operating income 8,155 7,381 3,877 2,057 8,821 241 277 (203) 30,605 Personnel expenses 2,532 4,579 873 729 3,220 3,903 30 116 15,981 General and administrative expenses 637 822 264 232 841 4,483 22 806 8,107 Services (to) / from CC and other BDs 2,289 1,209 1,077 502 2,817 (8,215) (57) 379 0 of which: services from CC Services 2,209 1,193 1,180 523 2,731 (8,245) 96 313 0 Depreciation and impairment of property, equipment and software 5 3 17 2 26 868 0 0 920 Amortization and impairment of intangible assets 2 3 51 0 8 24 21 0 0 107 Total operating expenses 3 5,465 6,663 2,231 1,474 6,929 1,059 (5) 1,301 25,116 Operating profit / (loss) before tax 2,689 718 1,646 584 1,892 (818) 282 (1,503) 5,489 Tax expense / (benefit) (898) Net profit / (loss) 6,386 Additional Information Total assets 119,850 60,993 141,164 12,874 253,486 22,566 237,517 94,369 942,819 Additions to non-current assets 6 4 14 1 18 1,851 0 1 1,895 1 Impairments of financial assets available for sale for the year ended 31 December 2015 totaled CHF 1 million, all in Wealth Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. |
UBS AG | |
Segment Reporting Note [Line Items] | |
Disclosure Of Operating Segments Explanatory | Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2017 Net interest income 2,088 1,562 1,916 (32) 1,194 (354) 83 23 6,480 Non-interest income 5,286 6,676 1,772 2,058 6,891 464 (68) 48 23,127 Allocations from CC Group ALM 256 115 181 18 (344) 120 (264) (83) 0 Income 1 7,629 8,353 3,869 2,044 7,741 231 (249) (11) 29,606 Credit loss (expense) / recovery (4) (4) (19) 0 (90) 0 0 (11) (128) Total operating income 7,626 8,349 3,850 2,044 7,651 231 (249) (22) 29,479 Personnel expenses 2,355 5,177 833 716 2,950 2,565 34 43 14,673 General and administrative expenses 605 677 294 234 715 6,147 26 113 8,811 Services (to) / from CC and other BDs 2,372 1,281 1,131 512 2,767 (8,274) (13) 224 0 of which: services from CC Services 2,294 1,262 1,224 549 2,674 (8,338) 142 194 0 Depreciation and impairment of property, equipment and software 3 2 13 1 10 899 0 0 928 Amortization and impairment of intangible assets 2 7 41 0 3 12 7 0 0 70 Total operating expenses 3 5,342 7,178 2,271 1,466 6,453 1,344 47 380 24,481 Operating profit / (loss) before tax 2,284 1,171 1,579 578 1,198 (1,113) (296) (403) 4,998 Tax expense / (benefit) 4,077 Net profit / (loss) 921 Additional Information Total assets 123,003 67,071 135,587 14,270 263,046 19,447 247,739 46,200 916,363 Additions to non-current assets 89 27 15 1 3 1,478 0 0 1,612 1 Impairments of financial assets available for sale for the year ended 31 December 2017 totaled CHF 15 million, of which CHF 13 million was recorded in Asset Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2016 Net interest income 1,932 1,347 1,892 (33) 1,006 (322) 559 3 6,383 Non-interest income 4,975 6,320 1,768 1,957 6,951 250 (229) 84 22,075 Allocations from CC Group ALM 389 118 332 7 (260) 36 (512) (110) 0 Income 1 7,296 7,785 3,990 1,931 7,697 (36) (183) (23) 28,458 Credit loss (expense) / recovery (5) (3) (6) 0 (11) 0 0 (13) (37) Total operating income 7,291 7,782 3,984 1,931 7,686 (36) (183) (36) 28,421 Personnel expenses 2,348 4,819 843 727 3,081 3,674 31 66 15,591 General and administrative expenses 653 597 286 242 852 4,312 17 731 7,690 Services (to) / from CC and other BDs 2,348 1,235 1,079 505 2,757 (8,156) (49) 280 0 of which: services from CC Services 2,256 1,221 1,186 530 2,667 (8,196) 110 225 0 Depreciation and impairment of property, equipment and software 2 2 15 1 21 938 0 0 980 Amortization and impairment of intangible assets 2 4 50 0 4 12 21 0 0 91 Total operating expenses 3 5,355 6,702 2,224 1,480 6,724 790 (1) 1,077 24,352 Operating profit / (loss) before tax 1,936 1,081 1,761 451 962 (826) (182) (1,113) 4,069 Tax expense / (benefit) 781 Net profit / (loss) 3,288 Additional Information Total assets 115,539 65,882 139,945 12,026 242,388 23,813 267,275 68,485 935,353 Additions to non-current assets 26 4 23 1 3 1,741 0 0 1,798 1 Impairments of financial assets available for sale for the year ended 31 December 2016 totaled CHF 5 million, of which CHF 3 million was recorded in Asset Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. Wealth Management Wealth Management Americas Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG CHF million Services Group ALM Non-core and Legacy Portfolio For the year ended 31 December 2015 Net interest income 1,825 1,067 1,890 (34) 1,573 (337) 724 21 6,729 Non-interest income 5,859 6,213 1,603 2,077 7,525 434 383 (101) 23,993 Allocations from CC Group ALM 471 104 421 15 (211) 145 (832) (114) 0 Income 1 8,155 7,384 3,913 2,057 8,889 243 275 (195) 30,721 Credit loss (expense) / recovery 0 (4) (37) 0 (68) 0 0 (8) (117) Total operating income 8,155 7,381 3,876 2,057 8,821 243 275 (203) 30,605 Personnel expenses 2,532 4,579 873 729 3,220 3,875 30 116 15,954 General and administrative expenses 650 848 264 233 882 4,517 21 804 8,219 Services (to) / from CC and other BDs 2,289 1,209 1,077 502 2,816 (8,214) (57) 379 0 of which: services from CC Services 2,209 1,193 1,180 523 2,730 (8,243) 96 313 0 Depreciation and impairment of property, equipment and software 5 3 17 2 26 866 0 0 918 Amortization and impairment of intangible assets 2 3 51 0 8 24 21 0 0 107 Total operating expenses 3 5,478 6,689 2,231 1,475 6,969 1,065 (6) 1,298 25,198 Operating profit / (loss) before tax 2,676 692 1,646 583 1,852 (822) 281 (1,501) 5,407 Tax expense / (benefit) (908) Net profit / (loss) 6,314 Additional Information Total assets 119,850 60,993 141,174 12,874 253,571 22,866 237,560 94,369 943,256 Additions to non-current assets 6 4 14 1 18 1,844 0 1 1,888 1 Impairments of financial assets available for sale for the year ended 31 December 2015 totaled CHF 1 million, all in Wealth Management. 2 Refer to Note 15 for more information. 3 Refer to Note 30 for information on restructuring expenses. |
Segment reporting by geographic
Segment reporting by geographic location (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting By Geographic Location [Line Items] | |
Disclosure Of Geographical Areas Explanatory | For the year ended 31 December 2017 Total operating income Total non-current assets CHF billion Share % CHF billion Share % Americas 12.0 41 7.2 44 of which: USA 11.4 39 6.7 41 Asia Pacific 4.7 16 0.8 5 Europe, Middle East and Africa 6.0 21 1.9 12 Switzerland 6.9 24 6.4 40 Global (0.4) (1) 0.0 0 Total 29.1 100 16.2 100 For the year ended 31 December 2016 Total operating income 1 Total non-current assets CHF billion Share % CHF billion Share % Americas 11.5 41 7.4 47 of which: USA 11.0 39 7.0 44 Asia Pacific 4.2 15 0.7 4 Europe, Middle East and Africa 6.1 22 1.8 11 Switzerland 6.9 24 6.0 38 Global (0.5) (2) 0.0 0 Total 28.3 100 15.9 100 For the year ended 31 December 2015 Total operating income 1 Total non-current assets CHF billion Share % CHF billion Share % Americas 11.2 37 7.1 47 of which: USA 10.5 34 6.7 44 Asia Pacific 5.1 17 0.5 3 Europe, Middle East and Africa 6.8 22 1.7 11 Switzerland 7.2 24 5.9 39 Global 0.4 1 0.0 0 Total 30.6 100 15.2 100 1 The geographical allocation of Total operating income has been restated to reflect a refinement in the allocation methodology. |
UBS AG | |
Segment Reporting By Geographic Location [Line Items] | |
Disclosure Of Geographical Areas Explanatory | For the year ended 31 December 2017 Total operating income Total non-current assets CHF billion Share % CHF billion Share % Americas 12.0 41 7.2 47 of which: USA 11.4 39 6.7 44 Asia Pacific 4.7 16 0.7 5 Europe, Middle East and Africa 6.0 20 1.6 10 Switzerland 6.9 23 5.9 38 Global 0.0 0 0.0 0 Total 29.5 100 15.4 100 For the year ended 31 December 2016 Total operating income 1 Total non-current assets CHF billion Share % CHF billion Share % Americas 11.5 40 7.4 47 of which: USA 11.0 39 7.0 44 Asia Pacific 4.2 15 0.6 4 Europe, Middle East and Africa 6.1 21 1.8 11 Switzerland 6.9 24 6.0 38 Global (0.3) (1) 0.0 0 Total 28.4 100 15.8 100 For the year ended 31 December 2015 Total operating income 1 Total non-current assets CHF billion Share % CHF billion Share % Americas 11.2 37 7.1 47 of which: USA 10.5 34 6.7 44 Asia Pacific 5.1 17 0.5 3 Europe, Middle East and Africa 6.8 22 1.7 11 Switzerland 7.2 24 5.9 39 Global 0.4 1 0.0 0 Total 30.6 100 15.2 100 1 The geographical allocation of Total operating income has been restated to reflect a refinement in the allocation methodology. |
Net interest and trading inco67
Net interest and trading income (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Net Interest And Trading Income [Line Items] | |
Disclosure of interest income (expense) and trading income (expense) [Text Block] | Note 3 Net interest and trading income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Net interest and trading income 1 Net interest income 6,528 6,413 6,732 of which: Wealth Management 2,344 2,331 2,326 of which: Wealth Management Americas 1,679 1,467 1,174 of which: Personal & Corporate Banking 2,086 2,199 2,270 of which: Asset Management (14) (24) (17) Net trading income 4,972 4,948 5,742 of which: Wealth Management 694 667 708 of which: Wealth Management Americas 332 372 362 of which: Personal & Corporate Banking 376 333 343 of which: Asset Management (10) (5) 12 Total net interest and trading income 11,499 11,361 12,474 of which: Investment Bank 4,282 4,277 5,186 of which: Corporate Client Solutions 1,065 822 1,001 of which: Investor Client Services 3,217 3,455 4,185 of which: Corporate Center (270) (256) 110 of which: Services (42) (89) (3) of which: Group ALM (157) (104) 426 of which: own credit on financial liabilities designated at fair value 553 of which: Non-core and Legacy Portfolio (71) (62) (313) Net interest income Interest income Interest income from loans and deposits 2,3,4 8,461 9,570 8,625 Interest income from securities financing transactions 5 1,542 1,136 896 Interest income from trading portfolio 6 2,565 2,465 3,071 Interest income from financial assets and liabilities designated at fair value 548 361 194 Interest income from financial assets available for sale and held to maturity 6 260 253 391 Interest income from derivative instruments designated as cash flow hedges 2 818 Total 14,193 13,787 13,177 Interest expense Interest expense on loans and deposits 7 1,375 826 476 Interest expense on securities financing transactions 8 1,444 1,233 976 Interest expense on trading portfolio 9 1,506 1,614 1,670 Interest expense on financial assets and liabilities designated at fair value 864 841 730 Interest expense on debt issued 2 2,478 2,858 2,592 Total 7,665 7,373 6,445 Net interest income 6,528 6,413 6,732 Net trading income Investment Bank Corporate Client Solutions 597 188 321 Investment Bank Investor Client Services 2,812 3,332 3,494 Other business divisions and Corporate Center 1,562 1,428 1,928 Net trading income 4,972 4,948 5,742 of which: net gains / (losses) from financial assets designated at fair value 2,574 (191) (127) of which: net gains / (losses) from financial liabilities designated at fair value 10 (3,920) (1,362) 3,701 1 Net interest and trading income presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. 2 Effective 1 January 2017, the presentation of interest income and interest expense on derivatives designated as hedging instruments in effective hedge relationships was refined. Refer to Note 1b for more information. 3 Includes interest income on impaired loans and advances of CHF 12 million for 2017, CHF 21 million for 2016 and CHF 16 million for 2015. 4 Consists of interest income from balances with central banks, amounts due from banks and loans, and negative interest on amounts due to banks and customers. 5 Includes interest income on securities borrowed and reverse repurchase agreements and negative interest, including fees, on securities lent and repurchase agreements. 6 Includes dividend income. 7 Consists of interest expense on amounts due to banks and customers, and negative interest on balances with central banks, amounts due from banks and loans. 8 Includes interest expense on securities lent and repurchase agreements and negative interest, including fees, on securities borrowed and reverse repurchase agreements. 9 Includes expense related to dividend payment obligations on trading liabilities. 10 Excludes fair value changes of hedges related to financial liabilities designated at fair value and foreign currency translation effects arising from translating foreign currency transactions into the respective functional currency, both of which are reported within Net trading income. |
UBS AG | |
Disclosure Of Net Interest And Trading Income [Line Items] | |
Disclosure of interest income (expense) and trading income (expense) [Text Block] | Note 3 Net interest and trading income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Net interest and trading income 1 Net interest income 6,480 6,383 6,729 of which: Wealth Management 2,344 2,331 2,326 of which: Wealth Management Americas 1,680 1,467 1,174 of which: Personal & Corporate Banking 2,086 2,199 2,270 of which: Asset Management (14) (24) (17) Net trading income 4,974 4,943 5,696 of which: Wealth Management 694 667 708 of which: Wealth Management Americas 332 372 362 of which: Personal & Corporate Banking 375 333 343 of which: Asset Management (10) (5) 12 Total net interest and trading income 11,454 11,326 12,425 of which: Investment Bank 4,283 4,275 5,186 of which: Corporate Client Solutions 1,065 822 1,001 of which: Investor Client Services 3,218 3,453 4,185 of which: Corporate Center (316) (289) 61 of which: Services (47) (92) (1) of which: Group ALM (199) (134) 375 of which: own credit on financial liabilities designated at fair value 553 of which: Non-core and Legacy Portfolio (71) (62) (313) Net interest income Interest income Interest income from loans and deposits 2,3,4 8,475 9,566 8,626 Interest income from securities financing transactions 5 1,542 1,136 896 Interest income from trading portfolio 6 2,565 2,465 3,071 Interest income from financial assets and liabilities designated at fair value 548 361 194 Interest income from financial assets available for sale and held to maturity 6 260 253 391 Interest income from derivative instruments designated as cash flow hedges 2 818 Total 14,208 13,782 13,178 Interest expense Interest expense on loans and deposits 2,7 2,464 1,664 774 Interest expense on securities financing transactions 8 1,444 1,233 976 Interest expense on trading portfolio 9 1,506 1,614 1,670 Interest expense on financial assets and liabilities designated at fair value 864 841 730 Interest expense on debt issued 2 1,451 2,046 2,299 Total 7,728 7,399 6,449 Net interest income 6,480 6,383 6,729 Net trading income Investment Bank Corporate Client Solutions 597 188 321 Investment Bank Investor Client Services 2,813 3,330 3,494 Other business divisions and Corporate Center 1,564 1,425 1,882 Net trading income 4,974 4,943 5,696 of which: net gains / (losses) from financial assets designated at fair value 2,527 (186) (119) of which: net gains / (losses) from financial liabilities designated at fair value 10 (3,920) (1,362) 3,701 1 Net interest and trading income presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. 2 Effective 1 January 2017, the presentation of interest income and interest expense on derivatives designated as hedging instruments in effective hedge relationships was refined. Refer to Note 1b for more information. 3 Includes interest income on impaired loans and advances of CHF 12 million for 2017, CHF 21 million for 2016 and CHF 16 million for 2015. 4 Consists of interest income from balances with central banks, amounts due from banks and loans, and negative interest on amounts due to banks and customers. 5 Includes interest income on securities borrowed and reverse repurchase agreements and negative interest, including fees, on securities lent and repurchase agreements. 6 Includes dividend income. 7 Consists of interest expense on amounts due to banks and customers, and negative interest on balances with central banks, amounts due from banks and loans. 8 Includes interest expense on securities lent and repurchase agreements and negative interest, including fees, on securities borrowed and reverse repurchase agreements. 9 Includes expense related to dividend payment obligations on trading liabilities. 10 Excludes fair value changes of hedges related to financial liabilities designated at fair value and foreign currency translation effects arising from translating foreign currency transactions into the respective functional currency, both of which are reported within Net trading income. |
Net fee and commission income (
Net fee and commission income (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Net Fee And Commission Income [Line Items] | |
Disclosure Of Fee And Commission Income Expense Explanatory | Note 4 Net fee and commission income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Underwriting fees 1,295 946 1,246 of which: equity underwriting fees 837 516 836 of which: debt underwriting fees 458 431 410 M&A and corporate finance fees 683 733 737 Brokerage fees 3,440 3,541 3,930 Investment fund fees 3,219 3,155 3,567 Portfolio management and advisory fees 8,542 8,035 7,858 Other 1,812 1,747 1,678 Total fee and commission income 18,991 18,157 19,016 Brokerage fees paid 660 757 869 Other 1,144 1,003 1,007 Total fee and commission expense 1,804 1,760 1,876 Net fee and commission income 17,186 16,397 17,140 of which: net brokerage fees 2,779 2,784 3,060 |
UBS AG | |
Disclosure Of Net Fee And Commission Income [Line Items] | |
Disclosure Of Fee And Commission Income Expense Explanatory | Note 4 Net fee and commission income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Underwriting fees 1,321 994 1,290 of which: equity underwriting fees 837 516 836 of which: debt underwriting fees 484 478 455 M&A and corporate finance fees 683 733 737 Brokerage fees 3,441 3,544 3,930 Investment fund fees 3,219 3,155 3,567 Portfolio management and advisory fees 8,542 8,035 7,858 Other 1,811 1,747 1,678 Total fee and commission income 19,018 18,207 19,060 Brokerage fees paid 660 757 869 Other 1,144 1,003 1,007 Total fee and commission expense 1,804 1,760 1,876 Net fee and commission income 17,214 16,447 17,184 of which: net brokerage fees 2,780 2,786 3,060 |
Other income (Tables)
Other income (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Associates, joint ventures and subsidiaries Net gains / (losses) from disposals of subsidiaries 1 37 2 (150) 264 Share of net profits of associates and joint ventures 75 106 169 Impairment charges related to associates (7) Total 105 (44) 433 Financial assets available for sale Net gains / (losses) from disposals 193 346 252 Impairment charges (15) (5) (1) Total 178 342 251 Net income from properties (excluding net gains / (losses) from disposals) 3 24 25 28 Net gains / (losses) from disposals of properties held for sale 0 125 378 Net gains / (losses) from disposals of loans and receivables 15 (3) 26 Other 189 2 154 (9) Total other income 509 599 1,107 1 Includes foreign exchange gains / (losses) reclassified from Other comprehensive income related to disposed foreign subsidiaries and branches. 2 Net gains / (losses) from disposals of subsidiaries and Other include a net gain on sale of subsidiaries and businesses of CHF 153 million in Asset Management. Refer to Note 30 for more information. 3 Includes net rent received from third parties and net operating expenses. |
UBS AG | |
Disclosure Of Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended CHF million 31.12.17 31.12.16 31.12.15 Associates, joint ventures and subsidiaries Net gains / (losses) from disposals of subsidiaries 1 37 2 (150) 264 Share of net profits of associates and joint ventures 75 106 169 Impairment charges related to associates (7) Total 105 (44) 433 Financial assets available for sale Net gains / (losses) from disposals 193 346 252 Impairment charges (15) (5) (1) Total 178 342 251 Net income from properties (excluding net gains / (losses) from disposals) 3 23 25 28 Net gains / (losses) from disposals of properties held for sale 0 125 378 Net gains / (losses) from disposals of loans and receivables 15 (3) 26 Income from shared services provided to UBS Group AG or its subsidiaries 385 4 48 0 Other 234 2 192 (5) Total other income 939 685 1,112 1 Includes foreign exchange gains / (losses) reclassified from Other comprehensive income related to disposed foreign subsidiaries and branches. 2 Net gains / (losses) from disposals of subsidiaries and Other include a net gain on sale of subsidiaries and businesses of CHF 153 million in Asset Management. Refer to Note 30 for more information. 3 Includes net rent received from third parties and net operating expenses. 4 The increase in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. |
Personnel expenses (Tables)
Personnel expenses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended CHF million 31.12.17 31.12.16 31.12.15 Salaries 1 6,037 6,230 6,282 Variable compensation – performance awards 2 3,090 2,972 3,210 of which: guarantees for new hires 36 30 38 Variable compensation – other 2 248 418 346 of which: replacement payments 3 71 86 76 of which: forfeiture credits (105) (73) (86) of which: severance payments 4 111 217 157 of which: retention plan and other payments 5 171 188 198 Wealth Management Americas: Financial advisor compensation 2,6 3,986 3,697 3,552 Contractors 451 420 365 Social security 798 747 820 Pension and other post-employment benefit plans 7 710 670 808 Other personnel expenses 570 565 600 Total personnel expenses 8 15,889 15,720 15,981 1 Includes role-based allowances. 2 Refer to Note 27 for more information. 3 Replacement payments are payments made to compensate employees for deferred awards forfeited as a result of joining UBS. 4 Includes legally obligated and standard severance payments. 5 Includes interest expense related to Deferred Contingent Capital Plan awards. 6 Financial advisor compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated based on financial advisor productivity, firm tenure, assets and other variables. It also includes expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. 7 Refer to Note 26 for more information. 8 Includes net restructuring expenses of CHF 534 million, CHF 751 million and CHF 460 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. |
UBS AG | |
Disclosure Of Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended CHF million 31.12.17 31.12.16 31.12.15 Salaries 1 5,323 6,136 6,260 Variable compensation – performance awards 2 2,996 2,963 3,209 of which: guarantees for new hires 36 30 38 Variable compensation – other 2 227 418 346 of which: replacement payments 3 69 86 76 of which: forfeiture credits (104) (73) (86) of which: severance payments 4 93 217 157 of which: retention plan and other payments 5 169 188 198 Wealth Management Americas: Financial advisor compensation 2,6 3,986 3,697 3,552 Contractors 313 420 365 Social security 717 734 817 Pension and other post-employment benefit plans 7 591 669 807 Other personnel expenses 521 554 597 Total personnel expenses 8 14,673 9 15,591 15,954 1 Includes role-based allowances. 2 Refer to Note 27 for more information. 3 Replacement payments are payments made to compensate employees for deferred awards forfeited as a result of joining UBS. 4 Includes legally obligated and standard severance payments. 5 Includes interest expense related to Deferred Contingent Capital Plan awards. 6 Financial advisor compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated based on financial advisor productivity, firm tenure, assets and other variables. It also includes expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. 7 Refer to Note 26 for more information. 8 Includes net restructuring expenses of CHF 362 million, CHF 731 million and CHF 458 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. 9 The decrease in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. |
General and administrative ex71
General and administrative expenses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of General And Administrative Expenses [Line Items] | |
Disclosure Of General And Administrative Expense Explanatory | Note 7 General and administrative expenses For the year ended CHF million 31.12.17 31.12.16 31.12.15 Occupancy 890 935 930 Rent and maintenance of IT and other equipment 560 511 510 Communication and market data services 610 626 611 Administration 1 600 713 718 Marketing and public relations 411 467 486 Travel and entertainment 416 423 460 Professional fees 1,202 1,234 1,354 Outsourcing of IT and other services 1,566 1,637 1,743 Provisions for litigation, regulatory and similar matters 2 420 795 1,087 Other 132 93 208 Total general and administrative expenses 3 6,808 7,434 8,107 1 Administration costs include net expenses related to the UK bank levy of CHF 17 million, CHF 123 million and CHF 166 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. 2017 included a CHF 82 million credit related to prior years. 2 Reflects the net increase in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 20 for more information. Also includes recoveries from third parties of CHF 53 million, CHF 13 million and CHF 10 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. 3 Includes net restructuring expenses of CHF 627 million, CHF 695 million and CHF 761 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. |
UBS AG | |
Disclosure Of General And Administrative Expenses [Line Items] | |
Disclosure Of General And Administrative Expense Explanatory | Note 7 General and administrative expenses For the year ended CHF million 31.12.17 31.12.16 31.12.15 Occupancy 848 921 928 Rent and maintenance of IT and other equipment 415 511 510 Communication and market data services 534 624 610 Administration 1 3,560 1,069 855 of which: shared services costs charged by UBS Group AG or its subsidiaries 2,974 2 365 223 Marketing and public relations 332 465 484 Travel and entertainment 374 411 456 Professional fees 1,064 1,225 1,351 Outsourcing of IT and other services 1,147 1,592 1,742 Provisions for litigation, regulatory and similar matters 3 420 795 1,087 Other 116 78 195 Total general and administrative expenses 4 8,811 2 7,690 8,219 1 Administration costs include net expenses related to the UK bank levy of CHF 17 million, CHF 123 million and CHF 166 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. 2017 included a CHF 82 million credit related to prior years. 2 The increase in 2017 in shared services costs charged by UBS Group AG or its subsidiaries and the associated decrease in certain direct cost lines were mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. 3 Reflects the net increase in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 20 for more information. Also includes recoveries from third parties of CHF 53 million, CHF 13 million and CHF 10 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. 4 Includes net restructuring expenses of CHF 818 million, CHF 700 million and CHF 760 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Income Taxes [Line Items] | |
Disclosure Of Income Tax By Geographical Areas Explanatory | For the year ended CHF million 31.12.17 31.12.16 31.12.15 Tax expense / (benefit) Swiss Current 448 459 239 Deferred 37 635 330 Non-Swiss Current 427 353 476 Deferred 3,227 (642) (1,943) Total income tax expense / (benefit) recognized in the income statement 4,139 805 (898) |
Disclosure of tax expense/(benefit) recognized and its relationship with accounting profit [text block] | For the year ended CHF million 31.12.17 31.12.16 31.12.15 Operating profit / (loss) before tax 5,268 4,090 5,489 of which: Swiss 2,057 2,629 3,753 of which: non-Swiss 3,211 1,461 1,736 Income taxes at Swiss tax rate of 21% 1,106 859 1,153 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 211 74 (73) Tax effects of losses not recognized 168 185 107 Previously unrecognized tax losses now utilized (358) (39) (107) Non-taxable and lower taxed income (301) (353) (297) Non-deductible expenses and additional taxable income 591 950 541 Adjustments related to prior years – current tax (13) 22 29 Adjustments related to prior years – deferred tax 4 2 (48) Change in deferred tax valuation allowances (161) (986) (2,419) Adjustments to deferred tax balances arising from changes in tax rates 2,824 19 190 Other items 67 72 27 Income tax expense / (benefit) 4,139 805 (898) |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Explanatory | CHF million 31.12.17 31.12.16 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 16,934 (11,191) 5,743 24,627 (16,430) 8,197 Temporary differences 5,077 (975) 4,102 6,346 (1,388) 4,958 of which: related to compensation and benefits 1,136 (222) 914 1,420 (208) 1,211 of which: related to trading assets 473 (58) 414 935 (118) 817 of which: related to investments in subsidiaries and goodwill 2,374 0 2,374 2,059 0 2,059 of which: other 1,095 (695) 400 1,932 (1,062) 870 Total deferred tax assets 22,011 (12,166) 9,844 30,973 (17,818) 13,155 Deferred tax liabilities Goodwill and intangible assets 18 24 Other 34 20 Total deferred tax liabilities 53 44 1 Less deferred tax liabilities as applicable. |
Disclosure of total recognized and unrecognized deferred tax assets ("Gross") and unrecognized deferred tax assets ("Valuation Allowance") [text block] | CHF million 31.12.17 31.12.16 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 16,934 (11,191) 5,743 24,627 (16,430) 8,197 Temporary differences 5,077 (975) 4,102 6,346 (1,388) 4,958 of which: related to compensation and benefits 1,136 (222) 914 1,420 (208) 1,211 of which: related to trading assets 473 (58) 414 935 (118) 817 of which: related to investments in subsidiaries and goodwill 2,374 0 2,374 2,059 0 2,059 of which: other 1,095 (695) 400 1,932 (1,062) 870 Total deferred tax assets 22,011 (12,166) 9,844 30,973 (17,818) 13,155 Deferred tax liabilities Goodwill and intangible assets 18 24 Other 34 20 Total deferred tax liabilities 53 44 1 Less deferred tax liabilities as applicable. |
Disclosure of unrecognized tax loss carry-forwards | Unrecognized tax loss carry-forwards CHF million 31.12.17 31.12.16 Within 1 year 167 0 From 2 to 5 years 103 66 From 6 to 10 years 3,185 910 From 11 to 20 years 26,015 32,603 No expiry 16,762 15,899 Total 46,232 49,478 |
UBS AG | |
Disclosure Of Income Taxes [Line Items] | |
Disclosure Of Income Tax By Geographical Areas Explanatory | For the year ended CHF million 31.12.17 31.12.16 31.12.15 Tax expense / (benefit) Swiss Current 402 429 230 Deferred 21 635 329 Non-Swiss Current 427 350 476 Deferred 3,227 (633) (1,943) Total income tax expense / (benefit) recognized in the income statement 4,077 781 (908) |
Disclosure of tax expense/(benefit) recognized and its relationship with accounting profit [text block] | For the year ended CHF million 31.12.17 31.12.16 31.12.15 Operating profit / (loss) before tax 4,998 4,069 5,407 of which: Swiss 1,878 2,607 3,665 of which: non-Swiss 3,120 1,462 1,742 Income taxes at Swiss tax rate of 21% 1,050 854 1,135 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 224 71 (69) Tax effects of losses not recognized 168 185 107 Previously unrecognized tax losses now utilized (358) (39) (107) Non-taxable and lower taxed income (298) (343) (273) Non-deductible expenses and additional taxable income 573 914 519 Adjustments related to prior years – current tax (13) 22 29 Adjustments related to prior years – deferred tax 5 2 (48) Change in deferred tax valuation allowances (161) (978) (2,419) Adjustments to deferred tax balances arising from changes in tax rates 2,824 19 191 Other items 63 72 26 Income tax expense / (benefit) 4,077 781 (908) |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Explanatory | CHF million 31.12.17 31.12.16 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 16,934 (11,191) 5,743 24,627 (16,430) 8,197 Temporary differences 5,016 (975) 4,040 6,335 (1,388) 4,947 of which: related to compensation and benefits 1,133 (222) 911 1,419 (208) 1,211 of which: related to trading assets 473 (58) 414 935 (118) 817 of which: related to investments in subsidiaries and goodwill 2,327 0 2,327 2,059 0 2,059 of which: other 1,083 (695) 388 1,922 (1,062) 859 Total deferred tax assets 21,949 (12,166) 9,783 30,962 (17,818) 13,144 Deferred tax liabilities Goodwill and intangible assets 18 24 Other 31 20 Total deferred tax liabilities 49 44 1 Less deferred tax liabilities as applicable. |
Disclosure of total recognized and unrecognized deferred tax assets ("Gross") and unrecognized deferred tax assets ("Valuation Allowance") [text block] | CHF million 31.12.17 31.12.16 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 16,934 (11,191) 5,743 24,627 (16,430) 8,197 Temporary differences 5,016 (975) 4,040 6,335 (1,388) 4,947 of which: related to compensation and benefits 1,133 (222) 911 1,419 (208) 1,211 of which: related to trading assets 473 (58) 414 935 (118) 817 of which: related to investments in subsidiaries and goodwill 2,327 0 2,327 2,059 0 2,059 of which: other 1,083 (695) 388 1,922 (1,062) 859 Total deferred tax assets 21,949 (12,166) 9,783 30,962 (17,818) 13,144 Deferred tax liabilities Goodwill and intangible assets 18 24 Other 31 20 Total deferred tax liabilities 49 44 1 Less deferred tax liabilities as applicable. |
Disclosure of unrecognized tax loss carry-forwards | Unrecognized tax loss carry-forwards CHF million 31.12.17 31.12.16 Within 1 year 167 0 From 2 to 5 years 103 66 From 6 to 10 years 3,185 909 From 11 to 20 years 26,015 32,603 No expiry 16,762 15,899 Total 46,232 49,477 |
Earnings per share and shares73
Earnings per share and shares outstanding (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Earnings Per Share And Shares Outstanding [Line Items] | |
Disclosure Of Earnings Per Share Explanatory | As of or for the year ended 31.12.17 31.12.16 31.12.15 Basic earnings (CHF million) Net profit / (loss) attributable to shareholders 1,053 3,204 6,203 Diluted earnings (CHF million) Net profit / (loss) attributable to shareholders 1,053 3,204 6,203 Less: (profit) / loss on own equity derivative contracts 0 0 0 Net profit / (loss) attributable to shareholders for diluted EPS 1,053 3,204 6,203 Weighted average shares outstanding Weighted average shares outstanding for basic EPS 3,716,174,261 3,719,764,322 3,690,375,879 Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding 120,540,272 104,244,665 90,898,386 Weighted average shares outstanding for diluted EPS 3,836,714,533 3,824,008,987 3,781,274,265 Earnings per share (CHF) Basic 0.28 0.86 1.68 Diluted 0.27 0.84 1.64 Shares outstanding Shares issued 3,853,096,603 3,850,766,389 3,849,731,535 Treasury shares 132,301,550 138,441,772 98,706,275 Shares outstanding 3,720,795,053 3,712,324,617 3,751,025,260 |
Disclosure of potentially dilutive instruments [text block] | Number of shares 31.12.17 31.12.16 31.12.15 Potentially dilutive instruments Employee share-based compensation awards 24,124,341 46,981,698 67,766,835 Other equity derivative contracts 9,122,496 8,419,122 6,061,848 Total 33,246,837 55,400,820 73,828,683 |
Due from banks and loans (Table
Due from banks and loans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Due From Banks And Loans [Line Items] | |
Disclosure Of Loans And Advances To Banks And Customers Explanatory | Note 10 Due from banks and loans (held at amortized cost) CHF million 31.12.17 31.12.16 By type of exposure Due from banks, gross 13,741 13,159 Allowance for credit losses (3) (3) Due from banks, net 13,739 13,156 Loans, gross Residential mortgages 144,431 142,197 Commercial mortgages 18,717 19,765 Lombard loans 115,059 104,999 Other loans 1 38,837 36,481 Finance lease receivables 2 1,069 986 Securities 2,113 2,494 Subtotal 320,225 306,921 Allowance for credit losses (658) (596) Loans, net 319,568 306,325 Total due from banks and loans, net 3 333,306 319,481 1 Includes corporate loans. 2 Refer to Note 31 for more information. 3 Refer to Note 25b for more information on collateral and credit enhancements. |
UBS AG | |
Notes Due From Banks And Loans [Line Items] | |
Disclosure Of Loans And Advances To Banks And Customers Explanatory | Note 10 Due from banks and loans (held at amortized cost) CHF million 31.12.17 31.12.16 By type of exposure Due from banks, gross 13,695 13,128 Allowance for credit losses (3) (3) Due from banks, net 13,693 13,125 Loans, gross Residential mortgages 144,431 142,197 Commercial mortgages 18,717 19,765 Lombard loans 115,059 104,999 Other loans 1 40,987 37,160 Finance lease receivables 2 1,069 986 Securities 2,113 2,494 Subtotal 322,376 307,601 Allowance for credit losses (658) (596) Loans, net 321,718 307,004 Total due from banks and loans, net 3 335,411 320,129 1 Includes corporate loans. 2 Refer to Note 31 for more information. 3 Refer to Note 25b for more information on collateral and credit enhancements. |
Allowances and provisions for75
Allowances and provisions for credit losses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Allowances And Provisions For Credit Losses [Line Items] | |
Disclosure Of Allowance For Credit Losses Explanatory | Note 11 Allowances and provisions for credit losses CHF million By movement Specific allowances Collective allowances Total allowances – due from banks and loans Allowances – other assets Provisions 1 Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 587 12 599 0 54 653 727 Write-offs / usage of provisions (115) (2) (117) 0 0 (117) (145) Recoveries 19 1 19 0 0 20 22 Increase / (decrease) recognized in the income statement 145 3 148 0 (21) 128 37 Foreign currency translation (7) 0 (7) 0 0 (7) 0 Other 19 0 19 18 0 37 12 Balance at the end of the year 648 13 661 19 33 713 653 1 Represents provisions for loan commitments and guarantees. Refer to Note 20 for more information. Refer to the “Treasury management” section of this report for the maximum irrevocable amount of loan commitments and guarantees. By balance sheet line Specific allowances Collective allowances Total allowances Allowances – other assets Provisions 1 Total 31.12.17 Total 31.12.16 Due from banks 3 0 3 3 3 Loans 645 13 658 658 596 Other assets 19 19 0 Provisions 33 33 54 Balance at the end of the year 648 13 661 19 33 713 653 1 Represents provisions for loan commitments and guarantees. |
UBS AG | |
Notes Allowances And Provisions For Credit Losses [Line Items] | |
Disclosure Of Allowance For Credit Losses Explanatory | Note 11 Allowances and provisions for credit losses CHF million By movement Specific allowances Collective allowances Total allowances – due from banks and loans Allowances – other assets Provisions 1 Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 587 12 599 0 54 653 727 Write-offs / usage of provisions (115) (2) (117) 0 0 (117) (145) Recoveries 19 1 19 0 0 20 22 Increase / (decrease) recognized in the income statement 145 3 148 0 (21) 128 37 Foreign currency translation (7) 0 (7) 0 0 (7) 0 Other 19 0 19 18 0 37 12 Balance at the end of the year 648 13 661 19 33 713 653 1 Represents provisions for loan commitments and guarantees. Refer to Note 20 for more information. Refer to the “Treasury management” section of this report for the maximum irrevocable amount of loan commitments and guarantees. By balance sheet line Specific allowances Collective allowances Total allowances Allowances – other assets Provisions 1 Total 31.12.17 Total 31.12.16 Due from banks 3 0 3 3 3 Loans 645 13 658 658 596 Other assets 19 19 0 Provisions 33 33 54 Balance at the end of the year 648 13 661 19 33 713 653 1 Represents provisions for loan commitments and guarantees. |
Derivative instruments (Tables)
Derivative instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Derivative Instruments [Line Items] | |
Schedule of derivative instruments [text block] | 31.12.17 31.12.16 CHF billion PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 6 0.1 22.1 0.3 8.2 2,321.1 0.1 29.6 0.1 21.9 2,242.8 Swaps 35.4 539.2 28.2 453.7 7,530.2 45.2 599.3 38.3 552.6 7,064.2 Options 8.5 558.1 9.8 547.2 12.6 478.1 13.9 480.6 Exchange-traded contracts Futures 455.6 326.4 Options 0.0 22.7 0.0 34.4 155.4 0.0 45.4 0.0 4.5 96.2 Agency transactions 7 0.0 0.0 0.2 0.2 Total 44.0 1,142.1 38.4 1,043.6 10,462.2 58.0 1,152.4 52.5 1,059.6 9,729.6 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 2.7 85.2 3.0 94.4 1.2 3.7 116.9 3.9 135.2 Total return swaps 0.2 2.2 0.8 3.9 0.2 3.3 0.9 4.3 Options and warrants 0.0 4.3 0.0 0.1 0.0 2.9 0.0 0.1 Total 2.8 91.8 3.8 98.3 1.2 3.9 123.1 4.8 139.6 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 17.2 681.4 17.8 691.6 21.8 715.6 19.0 650.9 Interest and currency swaps 23.8 1,275.5 21.8 1,098.4 43.2 1,220.8 42.0 1,115.0 Options 6.1 427.0 5.8 397.6 11.1 530.3 11.0 513.7 Exchange-traded contracts Futures 0.4 6.1 Options 0.0 4.7 0.1 5.6 0.0 2.9 0.1 6.0 Agency transactions 7 0.0 0.0 0.0 0.0 Total 47.1 2,388.5 45.5 2,193.3 0.4 76.1 2,469.6 72.1 2,285.6 6.1 Equity / index contracts Over-the-counter (OTC) contracts Forward contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swaps 3.4 71.2 5.5 100.4 3.6 76.5 4.8 69.0 Options 5.8 76.6 8.2 125.0 3.7 49.6 5.8 92.8 Exchange-traded contracts Futures 51.9 33.0 Options 6.9 232.6 6.9 261.2 31.0 3.8 142.5 4.6 155.8 21.6 Agency transactions 7 6.2 6.1 6.9 6.9 Total 22.2 380.3 26.7 486.6 82.9 18.0 268.6 22.1 317.6 54.5 Derivative instruments (continued) 1 31.12.17 31.12.16 CHF billion PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 2.9 0.1 3.8 0.3 4.8 0.1 2.7 Swaps 0.2 8.5 0.4 12.8 0.4 10.9 0.5 13.4 Options 0.3 11.3 0.1 7.9 0.5 14.1 0.2 9.9 Exchange-traded contracts Futures 8.2 9.1 Forward contracts 0.2 9.4 0.0 7.9 0.1 5.9 0.0 4.6 Options 0.0 1.0 0.1 4.4 0.3 0.0 3.2 0.1 5.3 0.0 Agency transactions 7 0.9 0.9 0.9 0.9 Total 1.7 33.1 1.6 36.9 8.4 2.3 39.0 2.0 35.9 9.1 Unsettled purchases of non-derivative financial instruments 8 0.1 12.0 0.1 10.9 0.1 18.4 0.1 9.7 Unsettled sales of non-derivative financial instruments 8 0.1 14.8 0.1 8.7 0.1 13.0 0.2 11.5 Total derivative instruments, based on IFRS netting 9 118.2 4,062.6 116.1 3,878.3 10,555.0 158.4 4,084.0 153.8 3,859.6 9,799.3 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. 2 PRV: positive replacement value. 3 In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. 4 NRV: negative replacement value. 5 Other notional values relate to derivatives that are cleared through either a central clearing counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for the periods presented. 6 Negative replacement values as of 31 December 2017 include CHF 0.0 billion related to derivative loan commitments (31 December 2016: CHF 0.1 billion). No notional amounts related to these replacement values are included in the table. The maximum irrevocable amount related to these commitments was CHF 5.3 billion as of 31 December 2017 (31 December 2016: CHF 14.3 billion). 7 Notional values of exchange-traded agency transactions and OTC-cleared transactions entered into on behalf of clients are not disclosed due to their significantly different risk profile. 8 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. 9 Refer to Note 24 for more information on netting arrangements. |
Disclosure Of Credit Derivatives By Type Of Instrument [Text Block] | Credit derivatives by type of instrument Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 1.1 61.3 1.1 0.6 55.7 Multi-name index-linked credit default swaps 0.2 0.9 31.8 0.9 0.2 31.9 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.0 Total rate of return swaps 0.0 0.8 4.4 0.1 0.0 1.7 Options and warrants 0.0 0.0 4.3 0.0 0.0 0.1 Total 31 December 2017 0.8 2.9 101.9 2.0 0.9 89.4 of which: credit derivatives related to economic hedges 0.7 2.4 81.5 1.6 0.8 70.5 of which: credit derivatives related to market-making 0.0 0.5 20.3 0.5 0.0 18.9 Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 1.6 1.3 91.4 1.3 1.4 81.3 Multi-name index-linked credit default swaps 0.2 0.8 38.4 0.5 0.4 38.3 Multi-name other credit default swaps 0.0 0.0 1.5 0.0 0.0 1.1 Total rate of return swaps 0.1 0.7 5.5 0.0 0.2 2.1 Options and warrants 0.0 0.0 2.9 0.0 0.0 0.1 Total 31 December 2016 2.0 2.8 139.7 1.9 2.0 122.9 of which: credit derivatives related to economic hedges 1.4 2.4 111.7 1.5 1.5 96.2 of which: credit derivatives related to market-making 0.5 0.3 28.0 0.4 0.5 26.7 |
Disclosure Of Credit Derivatives By Counterparty [Text Block] | Credit derivatives by counterparty Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.2 16.2 0.2 0.1 12.3 Banks 0.3 0.7 37.0 0.5 0.4 31.6 Central clearing counterparties 0.1 1.1 41.5 1.0 0.1 40.6 Other 0.3 0.9 7.2 0.3 0.2 4.9 Total 31 December 2017 0.8 2.9 101.9 2.0 0.9 89.4 Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.4 0.2 20.9 0.2 0.3 16.1 Banks 0.9 1.0 60.8 0.8 1.0 52.6 Central clearing counterparties 0.3 0.9 47.2 0.8 0.4 47.1 Other 0.4 0.8 10.9 0.2 0.3 7.1 Total 31 December 2016 2.0 2.8 139.7 1.9 2.0 122.9 |
UBS AG | |
Notes Derivative Instruments [Line Items] | |
Schedule of derivative instruments [text block] | 31.12.17 31.12.16 CHF billion PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 6 0.1 22.1 0.3 8.2 2,321.1 0.1 29.6 0.1 21.9 2,242.8 Swaps 35.4 539.2 28.2 453.7 7,530.2 45.2 599.3 38.3 552.6 7,064.2 Options 8.5 558.1 9.8 547.2 12.6 478.1 13.9 480.6 Exchange-traded contracts Futures 455.6 326.4 Options 0.0 22.7 0.0 34.4 155.4 0.0 45.4 0.0 4.5 96.2 Agency transactions 7 0.0 0.0 0.2 0.2 Total 44.0 1,142.1 38.4 1,043.6 10,462.2 58.0 1,152.4 52.5 1,059.6 9,729.6 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 2.7 85.2 3.0 94.4 1.2 3.7 116.9 3.9 135.2 Total return swaps 0.2 2.2 0.8 3.9 0.2 3.3 0.9 4.3 Options and warrants 0.0 4.3 0.0 0.1 0.0 2.9 0.0 0.1 Total 2.8 91.8 3.8 98.3 1.2 3.9 123.1 4.8 139.6 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 17.2 681.4 17.8 691.6 21.8 715.6 19.0 650.9 Interest and currency swaps 23.8 1,275.5 21.8 1,098.4 43.2 1,220.8 42.0 1,115.0 Options 6.1 427.0 5.8 397.6 11.1 530.3 11.0 513.7 Exchange-traded contracts Futures 0.4 6.1 Options 0.0 4.7 0.1 5.6 0.0 2.9 0.1 6.0 Agency transactions 7 0.0 0.0 0.0 0.0 Total 47.1 2,388.5 45.5 2,193.3 0.4 76.1 2,469.6 72.1 2,285.6 6.1 Equity / index contracts Over-the-counter (OTC) contracts Forward contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swaps 3.4 71.2 5.5 100.4 3.6 76.5 4.8 69.0 Options 5.8 76.6 8.2 125.0 3.7 49.6 5.8 92.8 Exchange-traded contracts Futures 51.9 33.0 Options 6.9 232.6 6.9 261.2 31.0 3.8 142.5 4.6 155.8 21.6 Agency transactions 7 6.2 6.1 6.9 6.9 Total 22.2 380.3 26.7 486.6 82.9 18.0 268.6 22.1 317.6 54.5 Derivative instruments (continued) 1 31.12.17 31.12.16 CHF billion PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 PRV 2 Notional values related to PRV 3 NRV 4 Notional values related to NRV 3 Other notional values 3,5 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 2.9 0.1 3.8 0.3 4.8 0.1 2.7 Swaps 0.2 8.5 0.4 12.8 0.4 10.9 0.5 13.4 Options 0.3 11.3 0.1 7.9 0.5 14.1 0.2 9.9 Exchange-traded contracts Futures 8.2 9.1 Forward contracts 0.2 9.4 0.0 7.9 0.1 5.9 0.0 4.6 Options 0.0 1.0 0.1 4.4 0.3 0.0 3.2 0.1 5.3 0.0 Agency transactions 7 0.9 0.9 0.9 0.9 Total 1.7 33.1 1.6 36.9 8.4 2.3 39.0 2.0 35.9 9.1 Unsettled purchases of non-derivative financial instruments 8 0.1 12.0 0.1 10.9 0.1 18.4 0.1 9.7 Unsettled sales of non-derivative financial instruments 8 0.1 14.8 0.1 8.7 0.1 13.0 0.2 11.5 Total derivative instruments, based on IFRS netting 9 118.2 4,062.6 116.1 3,878.3 10,555.0 158.4 4,084.0 153.8 3,859.6 9,799.3 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. 2 PRV: positive replacement value. 3 In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. 4 NRV: negative replacement value. 5 Other notional values relate to derivatives that are cleared through either a central clearing counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for the periods presented. 6 Negative replacement values as of 31 December 2017 include CHF 0.0 billion related to derivative loan commitments (31 December 2016: CHF 0.1 billion). No notional amounts related to these replacement values are included in the table. The maximum irrevocable amount related to these commitments was CHF 5.3 billion as of 31 December 2017 (31 December 2016: CHF 14.3 billion). 7 Notional values of exchange-traded agency transactions and OTC-cleared transactions entered into on behalf of clients are not disclosed due to their significantly different risk profile. 8 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. 9 Refer to Note 24 for more information on netting arrangements. |
Disclosure Of Credit Derivatives By Type Of Instrument [Text Block] | Credit derivatives by type of instrument Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 0.6 1.1 61.3 1.1 0.6 55.7 Multi-name index-linked credit default swaps 0.2 0.9 31.8 0.9 0.2 31.9 Multi-name other credit default swaps 0.0 0.0 0.1 0.0 0.0 0.0 Total rate of return swaps 0.0 0.8 4.4 0.1 0.0 1.7 Options and warrants 0.0 0.0 4.3 0.0 0.0 0.1 Total 31 December 2017 0.8 2.9 101.9 2.0 0.9 89.4 of which: credit derivatives related to economic hedges 0.7 2.4 81.5 1.6 0.8 70.5 of which: credit derivatives related to market-making 0.0 0.5 20.3 0.5 0.0 18.9 Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Single-name credit default swaps 1.6 1.3 91.4 1.3 1.4 81.3 Multi-name index-linked credit default swaps 0.2 0.8 38.4 0.5 0.4 38.3 Multi-name other credit default swaps 0.0 0.0 1.5 0.0 0.0 1.1 Total rate of return swaps 0.1 0.7 5.5 0.0 0.2 2.1 Options and warrants 0.0 0.0 2.9 0.0 0.0 0.1 Total 31 December 2016 2.0 2.8 139.7 1.9 2.0 122.9 of which: credit derivatives related to economic hedges 1.4 2.4 111.7 1.5 1.5 96.2 of which: credit derivatives related to market-making 0.5 0.3 28.0 0.4 0.5 26.7 |
Disclosure Of Credit Derivatives By Counterparty [Text Block] | Credit derivatives by counterparty Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.2 0.2 16.2 0.2 0.1 12.3 Banks 0.3 0.7 37.0 0.5 0.4 31.6 Central clearing counterparties 0.1 1.1 41.5 1.0 0.1 40.6 Other 0.3 0.9 7.2 0.3 0.2 4.9 Total 31 December 2017 0.8 2.9 101.9 2.0 0.9 89.4 Protection bought Protection sold CHF billion PRV NRV Notional values PRV NRV Notional values Broker-dealers 0.4 0.2 20.9 0.2 0.3 16.1 Banks 0.9 1.0 60.8 0.8 1.0 52.6 Central clearing counterparties 0.3 0.9 47.2 0.8 0.4 47.1 Other 0.4 0.8 10.9 0.2 0.3 7.1 Total 31 December 2016 2.0 2.8 139.7 1.9 2.0 122.9 |
Hedge accounting (Tables)
Hedge accounting (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Hedge Accounting [Line Items] | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows Explanatory | Derivatives designated in hedge accounting relationships (undiscounted cash flows) CHF billion On demand Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 1 FX swaps / forwards Cash inflows 0 8 4 0 0 0 12 Cash outflows 0 8 4 0 0 0 12 Net cash flows 0 0 0 0 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps as of 31 December 2017 were not material as the majority of interest rate swaps designated in hedge accounting relationships are legally settled on a daily basis. |
Cash Flow Hedges [Member] | |
Notes Hedge Accounting [Line Items] | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows Explanatory | Principal balances subject to cash flow forecasts CHF billion Within 1 year 1–3 years 3–5 years 5–10 years Over 10 years Assets 52 74 49 49 0 Liabilities 3 4 2 2 0 Net balance 50 70 47 47 0 |
Fair value hedges of interest rate risk | |
Notes Hedge Accounting [Line Items] | |
Disclosure of fair value hedge accounting [text block] | Fair value hedges of interest rate risk For the year ended CHF million 31.12.17 31.12.16 31.12.15 Gains / (losses) on hedging instruments (20) 140 554 Gains / (losses) on hedged items attributable to the hedged risk 1 (144) (552) Net gains / (losses) representing ineffective portions of fair value hedges (19) (4) 2 |
Fair value hedges of portfolio interest rate risk | |
Notes Hedge Accounting [Line Items] | |
Disclosure of fair value hedge accounting [text block] | Fair value hedges of portfolio interest rate risk For the year ended CHF million 31.12.17 31.12.16 31.12.15 Gains / (losses) on hedging instruments (11) (128) (176) Gains / (losses) on hedged items attributable to the hedged risk 4 116 147 Net gains / (losses) representing ineffective portions of fair value hedges (7) (12) (29) |
UBS AG | |
Notes Hedge Accounting [Line Items] | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows Explanatory | Derivatives designated in hedge accounting relationships (undiscounted cash flows) CHF billion On demand Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Interest rate swaps 1 FX swaps / forwards Cash inflows 0 8 4 0 0 0 12 Cash outflows 0 8 4 0 0 0 12 Net cash flows 0 0 0 0 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps as of 31 December 2017 were not material as the majority of interest rate swaps designated in hedge accounting relationships are legally settled on a daily basis. |
UBS AG | Cash Flow Hedges [Member] | |
Notes Hedge Accounting [Line Items] | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows Explanatory | Principal balances subject to cash flow forecasts CHF billion Within 1 year 1–3 years 3–5 years 5–10 years Over 10 years Assets 52 74 49 49 0 Liabilities 3 4 2 2 0 Net balance 50 70 47 47 0 |
UBS AG | Fair value hedges of interest rate risk | |
Notes Hedge Accounting [Line Items] | |
Disclosure of fair value hedge accounting [text block] | Fair value hedges of interest rate risk For the year ended CHF million 31.12.17 31.12.16 31.12.15 Gains / (losses) on hedging instruments (20) 140 554 Gains / (losses) on hedged items attributable to the hedged risk 1 (144) (552) Net gains / (losses) representing ineffective portions of fair value hedges (19) (4) 2 |
UBS AG | Fair value hedges of portfolio interest rate risk | |
Notes Hedge Accounting [Line Items] | |
Disclosure of fair value hedge accounting [text block] | Fair value hedges of portfolio interest rate risk For the year ended CHF million 31.12.17 31.12.16 31.12.15 Gains / (losses) on hedging instruments (11) (128) (176) Gains / (losses) on hedged items attributable to the hedged risk 4 116 147 Net gains / (losses) representing ineffective portions of fair value hedges (7) (12) (29) |
Financial assets available fo78
Financial assets available for sale (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Financial Assets Available-for-sale [Line Items] | |
Disclosure Of Available for sale Assets Explanatory | Note 13 Financial assets available for sale and held to maturity a) Financial assets available for sale CHF million 31.12.17 31.12.16 Financial assets available for sale by issuer type 1 Debt instruments Government and government agencies 7,000 11,650 of which: USA 6,569 7,779 Banks 299 1,845 Corporates and other 821 1,554 Total debt instruments 8,120 15,048 Equity instruments 546 628 Total financial assets available for sale 8,665 15,676 Unrealized gains – before tax 216 309 Unrealized (losses) – before tax (105) (117) Net unrealized gains / (losses) – before tax 111 193 Net unrealized gains / (losses) – after tax 8 96 1 Refer to Note 22c for more information on product type and fair value hierarchy categorization. |
UBS AG | |
Disclosure Financial Assets Available-for-sale [Line Items] | |
Disclosure Of Available for sale Assets Explanatory | Note 13 Financial assets available for sale and held to maturity a) Financial assets available for sale CHF million 31.12.17 31.12.16 Financial assets available for sale by issuer type 1 Debt instruments Government and government agencies 7,000 11,650 of which: USA 6,569 7,779 Banks 299 1,845 Corporates and other 821 1,554 Total debt instruments 8,120 15,048 Equity instruments 546 628 Total financial assets available for sale 8,665 15,676 Unrealized gains – before tax 216 309 Unrealized (losses) – before tax (105) (117) Net unrealized gains / (losses) – before tax 111 193 Net unrealized gains / (losses) – after tax 8 96 1 Refer to Note 22c for more information on product type and fair value hierarchy categorization. |
Financial assets held to matu79
Financial assets held to maturity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Financial Assets Held To Maturity [Line Items] | |
Disclosure of held-to-maturity [text block] | b) Financial assets held to maturity CHF million 31.12.17 31.12.16 Financial assets held to maturity by issuer type Debt instruments Government and government agencies 7,476 7,416 of which: USA 4,833 4,688 of which: Germany 1,682 1,708 of which: France 669 867 Banks 1,689 1,873 Total financial assets held to maturity 9,166 9,289 |
UBS AG | |
Disclosure Financial Assets Held To Maturity [Line Items] | |
Disclosure of held-to-maturity [text block] | b) Financial assets held to maturity CHF million 31.12.17 31.12.16 Financial assets held to maturity by issuer type Debt instruments Government and government agencies 7,476 7,416 of which: USA 4,833 4,688 of which: Germany 1,682 1,708 of which: France 669 867 Banks 1,689 1,873 Total financial assets held to maturity 9,166 9,289 |
Property, equipment and softw80
Property, equipment and software (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Property Equipment And Software [Line Items] | |
Disclosure of property, equipment and software [text block] | Note 14 Property, equipment and software At historical cost less accumulated depreciation CHF million Own-used properties Leasehold improvements IT hardware and communication Internally generated software Purchased software Other machines and equipment Projects in progress 31.12.17 31.12.16 Historical cost Balance at the beginning of the year 7,732 3,469 1,521 3,037 408 866 1,125 18,159 17,847 Additions 48 21 118 1 49 14 1,353 1,604 1,788 Disposals / write-offs 1 (39) (295) (115) (87) (32) (53) 0 (622) (1,104) Reclassifications (15) 136 45 1,220 (5) 27 (1,455) (46) 6 (200) Foreign currency translation (2) (41) 4 (12) 1 (14) 0 (65) (172) Balance at the end of the year 7,723 3,291 1,574 4,159 421 840 1,023 19,030 18,159 Accumulated depreciation Balance at the beginning of the year 4,300 2,132 1,027 1,542 233 594 0 9,828 10,153 Depreciation 167 199 179 347 61 61 0 1,015 959 Impairment 2 (2) 8 4 7 1 1 0 18 26 Disposals / write-offs 1 (39) (292) (112) (86) (32) (52) 0 (614) (1,090) Reclassifications (9) 5 (1) 0 0 0 0 (5) 6 (146) Foreign currency translation (2) (35) 6 (3) 3 (9) 0 (40) (75) Balance at the end of the year 4,414 2,017 1,103 1,807 266 595 0 10,201 9,828 Net book value Net book value at the beginning of the year 3,432 1,337 495 1,495 175 272 1,125 8,331 7,695 Net book value at the end of the year 3,4 3,309 1,274 471 2,352 155 245 1,023 5 8,829 8,331 1 Includes write-offs of fully depreciated assets. 2 Impairment charges recorded in 2017 relate to assets for which the recoverable amount was determined based on value-in-use. Recoverable amounts for these impaired assets were not material as of 31 December 2017. 3 As of 31 December 2017, contractual commitments to purchase property in the future amounted to approximately CHF 0.3 billion (31 December 2016: approximately CHF 0.3 billion). 4 Includes CHF 28 million related to leased assets, mainly IT hardware and communication. 5 Consists of CHF 791 million related to Internally generated software, CHF 197 million related to Own-used properties and CHF 35 million related to Leasehold improvements. 6 Reflects reclassifications to Properties held for sale (CHF 40 million on a net basis) of properties sold in 2017. |
UBS AG | |
Notes Property Equipment And Software [Line Items] | |
Disclosure of property, equipment and software [text block] | Note 14 Property, equipment and software At historical cost less accumulated depreciation CHF million Own-used properties Leasehold improvements IT hardware and communication Internally generated software Purchased software Other machines and equipment Projects in progress 31.12.17 31.12.16 Historical cost Balance at the beginning of the year 7,732 3,440 1,512 3,037 408 853 1,123 18,106 17,823 Additions 44 15 101 1 43 13 1,291 1,508 1,770 Disposals / write-offs 1 (672) (303) (645) (355) (174) (59) (32) (2,239) (1,102) Reclassifications (17) 117 46 1,196 (5) 22 (1,406) (46) 6 (214) Foreign currency translation (2) (43) 3 (12) 1 (15) (1) (70) (171) Balance at the end of the year 7,085 3,226 1,018 3,867 272 815 975 17,259 18,106 Accumulated depreciation Balance at the beginning of the year 4,300 2,124 1,021 1,542 233 589 0 9,809 10,140 Depreciation 153 191 133 328 48 59 0 912 954 Impairment 2 (2) 8 2 6 1 1 0 15 26 Disposals / write-offs 1 (373) (298) (432) (155) (100) (55) 0 (1,413) (1,090) Reclassifications (9) 4 0 0 (1) 0 0 (7) 6 (147) Foreign currency translation (2) (36) 5 (3) 3 (10) 0 (43) (74) Balance at the end of the year 4,066 1,993 729 1,719 183 583 0 9,274 9,809 Net book value Net book value at the beginning of the year 3,432 1,316 492 1,495 175 264 1,123 8,297 7,683 Net book value at the end of the year 3,4 3,019 1,233 289 2,148 89 232 975 5 7,985 8,297 1 Mainly comprises CHF 819 million of assets on a net book value basis relating to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. Also includes write-offs of fully depreciated assets. 2 Impairment charges recorded in 2017 relate to assets for which the recoverable amount was determined based on value-in-use. Recoverable amounts for these impaired assets were not material as of 31 December 2017. 3 As of 31 December 2017, contractual commitments to purchase property in the future amounted to approximately CHF 0.3 billion (31 December 2016: approximately CHF 0.3 billion). 4 Includes CHF 22 million related to leased assets, mainly IT hardware and communication. 5 Consists of CHF 754 million related to Internally generated software, CHF 188 million related to Own-used properties and CHF 33 million related to Leasehold improvements. 6 Reflects reclassifications to Properties held for sale (CHF 40 million on a net basis) of properties sold in 2017. |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Goodwill And Intangible Assets [Line Items] | |
Disclosure Of Information For Cash-generating Unit With Significant Amount Of Goodwill Explanatory | Discount and growth rates Discount rates Growth rates In % 31.12.17 31.12.16 31.12.17 31.12.16 Wealth Management 9.0 9.0 1.7 1.7 Wealth Management Americas 9.0 9.0 2.4 2.4 Asset Management 9.0 9.0 2.4 2.4 Investment Bank 11.0 11.0 2.4 2.4 |
Disclosure Of Reconciliation Of Changes InIntangible Assets And Goodwill Explanatory | Goodwill Intangible assets CHF million Total Infrastructure Customer relationships, contractual rights and other Total 31.12.17 31.12.16 Historical cost Balance at the beginning of the year 6,311 773 739 1,512 7,823 7,821 Additions 37 64 64 101 24 Disposals (27) (34) (34) (61) (3) Write-offs 0 0 (75) Foreign currency translation (139) (33) (2) (35) (174) 57 Balance at the end of the year 6,182 741 766 1,507 7,689 7,823 Accumulated amortization and impairment Balance at the beginning of the year 626 641 1,267 1,267 1,253 Amortization 37 32 70 70 91 Impairment 1 0 0 0 0 Disposals (15) (15) (15) (1) Write-offs 0 0 (75) Foreign currency translation (27) (3) (29) (29) (1) Balance at the end of the year 637 655 1,292 1,292 1,267 Net book value at the end of the year 6,182 104 111 215 6,398 6,556 1 Impairment charges recorded in 2017 and 2016 relate to assets for which the recoverable amount was determined based on value-in-use (recoverable amount of the impaired assets: CHF 0 million for 2017 and CHF 3 million for 2016). |
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives Explanatory | CHF million Wealth Management Wealth Management Americas Investment Bank Asset Management Corporate Center – Services Total Goodwill Balance at the beginning of the year 1,303 3,571 36 1,401 6,311 Additions 37 37 Disposals (2) (25) (27) Foreign currency translation 8 (151) (2) 6 (139) Balance at the end of the year 1,346 3,420 34 1,382 6,182 Intangible assets Balance at the beginning of the year 40 152 41 4 9 245 Additions / transfers 47 17 64 Disposals (19) (19) Amortization (7) (41) (12) (3) (7) (70) Impairment 0 0 Foreign currency translation 2 (6) (1) 0 (5) Balance at the end of the year 63 121 28 1 2 215 |
Disclosure of future amortization expenses for intangible assets [text block] | CHF million Intangible assets Estimated, aggregated amortization expenses for: 2018 63 2019 49 2020 42 2021 11 2022 11 Thereafter 35 Not amortized due to indefinite useful life 5 Total 215 |
UBS AG | |
Notes Goodwill And Intangible Assets [Line Items] | |
Disclosure Of Information For Cash-generating Unit With Significant Amount Of Goodwill Explanatory | Discount and growth rates Discount rates Growth rates In % 31.12.17 31.12.16 31.12.17 31.12.16 Wealth Management 9.0 9.0 1.7 1.7 Wealth Management Americas 9.0 9.0 2.4 2.4 Asset Management 9.0 9.0 2.4 2.4 Investment Bank 11.0 11.0 2.4 2.4 |
Disclosure Of Reconciliation Of Changes InIntangible Assets And Goodwill Explanatory | Goodwill Intangible assets CHF million Total Infrastructure Customer relationships, contractual rights and other Total 31.12.17 31.12.16 Historical cost Balance at the beginning of the year 6,311 773 739 1,512 7,823 7,821 Additions 37 64 64 101 24 Disposals (27) (34) (34) (61) (3) Write-offs 0 0 (75) Foreign currency translation (139) (33) (2) (35) (174) 57 Balance at the end of the year 6,182 741 766 1,507 7,689 7,823 Accumulated amortization and impairment Balance at the beginning of the year 626 641 1,267 1,267 1,253 Amortization 37 32 70 70 91 Impairment 1 0 0 0 0 Disposals (15) (15) (15) (1) Write-offs 0 0 (75) Foreign currency translation (27) (3) (29) (29) (1) Balance at the end of the year 637 655 1,292 1,292 1,267 Net book value at the end of the year 6,182 104 111 215 6,398 6,556 1 Impairment charges recorded in 2017 and 2016 relate to assets for which the recoverable amount was determined based on value-in-use (recoverable amount of the impaired assets: CHF 0 million for 2017 and CHF 3 million for 2016). |
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives Explanatory | CHF million Wealth Management Wealth Management Americas Investment Bank Asset Management Corporate Center – Services Total Goodwill Balance at the beginning of the year 1,303 3,571 36 1,401 6,311 Additions 37 37 Disposals (2) (25) (27) Foreign currency translation 8 (151) (2) 6 (139) Balance at the end of the year 1,346 3,420 34 1,382 6,182 Intangible assets Balance at the beginning of the year 40 152 41 4 9 245 Additions / transfers 47 17 64 Disposals (19) (19) Amortization (7) (41) (12) (3) (7) (70) Impairment 0 0 Foreign currency translation 2 (6) (1) 0 (5) Balance at the end of the year 63 121 28 1 2 215 |
Disclosure of future amortization expenses for intangible assets [text block] | CHF million Intangible assets Estimated, aggregated amortization expenses for: 2018 63 2019 49 2020 42 2021 11 2022 11 Thereafter 35 Not amortized due to indefinite useful life 5 Total 215 |
Other assets (Tables)
Other assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Other Assets [Line Items] | |
Disclosure Of Other Assets Explanatory | Note 16 Other assets CHF million 31.12.17 31.12.16 Prime brokerage receivables 1 19,080 9,828 Recruitment loans to financial advisors 2,553 3,087 Other loans to financial advisors 565 471 Bail deposit 2 1,337 1,213 Accrued interest income 577 526 Accrued income – other 781 818 Prepaid expenses 1,013 1,010 Settlement and clearing accounts 716 516 VAT and other tax receivables 359 292 Properties and other non-current assets held for sale 95 111 Assets of disposal group held for sale 3 0 5,137 Other 2,630 2,427 Total other assets 29,706 25,436 1 Prime brokerage services include clearance, settlement, custody, financing and portfolio reporting services for corporate clients trading across multiple asset classes. Prime brokerage receivables are mainly comprised of margin lending receivables. 2 Refer to Note 20b item 1 for more information. 3 Refer to Note 30 for more information. |
UBS AG | |
Notes Other Assets [Line Items] | |
Disclosure Of Other Assets Explanatory | Note 16 Other assets CHF million 31.12.17 31.12.16 Prime brokerage receivables 1 19,080 9,828 Recruitment loans to financial advisors 2,553 3,087 Other loans to financial advisors 565 471 Bail deposit 2 1,337 1,213 Accrued interest income 578 526 Accrued income – other 781 822 Prepaid expenses 819 1,008 Settlement and clearing accounts 716 516 VAT and other tax receivables 292 261 Properties and other non-current assets held for sale 95 111 Assets of disposal group held for sale 3 0 5,137 Other 2,688 2,433 Total other assets 29,505 25,412 1 Prime brokerage services include clearance, settlement, custody, financing and portfolio reporting services for corporate clients trading across multiple asset classes. Prime brokerage receivables are mainly comprised of margin lending receivables. 2 Refer to Note 20b item 1 for more information. 3 Refer to Note 30 for more information. |
Due to banks and customers (Tab
Due to banks and customers (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Due To Banks And Customers [Line Items] | |
Disclosure of due to banks and customers [text block] | N ote 17 Due to banks and customers CHF million 31.12.17 31.12.16 Due to banks 7,533 10,645 Due to customers 408,999 423,672 of which: demand deposits 188,580 194,044 of which: retail savings / deposits 161,828 170,729 of which: time deposits 47,391 52,716 of which: fiduciary deposits 11,200 6,184 Total due to banks and customers 416,532 434,317 |
UBS AG | |
Notes Due To Banks And Customers [Line Items] | |
Disclosure of due to banks and customers [text block] | N ote 17 Due to banks and customers CHF million 31.12.17 31.12.16 Due to banks 7,533 10,645 Due to customers 447,141 450,199 of which: demand deposits 190,341 195,756 of which: retail savings / deposits 161,828 170,729 of which: time deposits 1 83,773 77,531 of which: fiduciary deposits 11,200 6,184 Total due to banks and customers 454,675 460,844 1 Includes Group-internal funding obtained from UBS Group AG and UBS Group Funding (Switzerland) AG of CHF 35 billion as of 31 December 2017 (31 December 2016: CHF 25 billion). |
Financial liabilities designa84
Financial liabilities designated at fair value (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Financial Liabilities Designated At Fair Value [Line Items] | |
Disclosure Of Designated Financial Liabilities At Fair Value Through Profit Or Loss | CHF million 31.12.17 31.12.16 Issued debt instruments Equity-linked 1 34,162 29,831 Rates-linked 5,811 10,150 Credit-linked 2,937 4,101 Fixed-rate 3,921 2,972 Other 2,671 2,875 Total issued debt instruments 49,502 49,930 of which: issued by UBS AG with original maturity greater than one year 2,3 37,266 36,347 Over-the-counter debt instruments Equity-linked 1 1,350 1,992 Other 2,967 2,671 Total over-the-counter debt instruments 4,317 4,663 of which: issued by UBS AG with original maturity greater than one year 2,4 3,049 4,210 Repurchase agreements 375 395 Loan commitments and guarantees 5 9 29 Total 54,202 55,017 of which: life-to-date own credit (gain) / loss 195 (141) 1 Includes investment fund unit-linked instruments issued. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. 3 More than 99% of the balance as of 31 December 2017 was unsecured (31 December 2016: more than 99% of the balance was unsecured). 4 More than 40% of the balance as of 31 December 2017 was unsecured (31 December 2016: more than 35% of the balance was unsecured). 5 Loan commitments recognized as Financial liabilities designated at fair value until drawn and recognized as Loans. See Note 1a item 3o for more information. |
Financial liabilities designated at fair value | |
Notes Financial Liabilities Designated At Fair Value [Line Items] | |
Maturity Analysis For Non-derivative Financial Liabilities | Contractual maturity of carrying value CHF million 2018 2019 2020 2021 2022 2023–2027 Thereafter Total 31.12.17 Total 31.12.16 UBS AG 1 Non-subordinated debt Fixed-rate 3,339 1,350 872 401 571 511 3,610 10,653 9,505 Floating-rate 16,428 5,660 4,418 1,297 1,883 4,983 6,497 41,167 42,757 Subtotal 19,767 7,010 5,290 1,697 2,455 5,494 10,107 51,820 52,262 Other subsidiaries 2 Non-subordinated debt Fixed-rate 90 797 52 74 7 345 136 1,502 1,768 Floating-rate 330 18 194 0 48 27 263 879 987 Subtotal 420 816 246 74 55 372 399 2,382 2,755 Total 20,187 7,826 5,536 1,772 2,510 5,866 10,506 54,202 55,017 1 Comprises instruments issued by the legal entity UBS AG. 2 Comprises instruments issued by subsidiaries of UBS AG. |
UBS AG | |
Notes Financial Liabilities Designated At Fair Value [Line Items] | |
Disclosure Of Designated Financial Liabilities At Fair Value Through Profit Or Loss | CHF million 31.12.17 31.12.16 Issued debt instruments Equity-linked 1 34,162 29,831 Rates-linked 5,811 10,150 Credit-linked 2,937 4,101 Fixed-rate 3,921 2,972 Other 2,671 2,875 Total issued debt instruments 49,502 49,930 of which: issued by UBS AG with original maturity greater than one year 2,3 37,266 36,347 Over-the-counter debt instruments Equity-linked 1 1,350 1,992 Other 2,967 2,671 Total over-the-counter debt instruments 4,317 4,663 of which: issued by UBS AG with original maturity greater than one year 2,4 3,049 4,210 Repurchase agreements 375 395 Loan commitments and guarantees 5 9 29 Total 54,202 55,017 of which: life-to-date own credit (gain) / loss 195 (141) 1 Includes investment fund unit-linked instruments issued. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. 3 More than 99% of the balance as of 31 December 2017 was unsecured (31 December 2016: more than 99% of the balance was unsecured). 4 More than 40% of the balance as of 31 December 2017 was unsecured (31 December 2016: more than 35% of the balance was unsecured). 5 Loan commitments recognized as Financial liabilities designated at fair value until drawn and recognized as Loans. See Note 1a item 3o for more information. |
UBS AG | Financial liabilities designated at fair value | |
Notes Financial Liabilities Designated At Fair Value [Line Items] | |
Maturity Analysis For Non-derivative Financial Liabilities | Contractual maturity of carrying value CHF million 2018 2019 2020 2021 2022 2023–2027 Thereafter Total 31.12.17 Total 31.12.16 UBS AG 1 Non-subordinated debt Fixed-rate 3,339 1,350 872 401 571 511 3,610 10,653 9,505 Floating-rate 16,428 5,660 4,418 1,297 1,883 4,983 6,497 41,167 42,757 Subtotal 19,767 7,010 5,290 1,697 2,455 5,494 10,107 51,820 52,262 Other subsidiaries 2 Non-subordinated debt Fixed-rate 90 797 52 74 7 345 136 1,502 1,768 Floating-rate 330 18 194 0 48 27 263 879 987 Subtotal 420 816 246 74 55 372 399 2,382 2,755 Total 20,187 7,826 5,536 1,772 2,510 5,866 10,506 54,202 55,017 1 Comprises instruments issued by the legal entity UBS AG. 2 Comprises instruments issued by subsidiaries of UBS AG. |
Debt issued held at amortized85
Debt issued held at amortized cost (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Disclosure Debt Issued Held At Amortized Cost [Line Items] | |
Disclosure Of Detailed Information About Borrowings Explanatory | CHF million 31.12.17 31.12.16 Certificates of deposit 23,831 20,207 Commercial paper 23,532 1,653 Other short-term debt 3,590 4,318 Short-term debt 1 50,953 26,178 Senior fixed-rate bonds 32,268 27,008 of which: issued by UBS AG with original maturity greater than one year 2 32,256 26,850 Senior unsecured debt that contributes to total loss-absorbing capacity 27,233 16,890 Covered bonds 4,112 5,836 Subordinated debt 16,555 19,325 of which: high-trigger loss-absorbing additional tier 1 capital instruments 5,187 5,429 of which: low-trigger loss-absorbing additional tier 1 capital instruments 2,383 2,342 of which: low-trigger loss-absorbing tier 2 capital instruments 8,286 10,429 of which: non-Basel III-compliant tier 2 capital instruments 700 1,125 Debt issued through the central bond institutions of the Swiss regional or cantonal banks 8,345 8,302 Other long-term debt 87 112 of which: issued by UBS AG with original maturity greater than one year 2 66 94 Long-term debt 3 88,599 77,472 Total debt issued held at amortized cost 4 139,551 103,649 1 Debt with an original maturity of less than one year. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. 100% of the balance as of 31 December 2017 was unsecured (31 December 2016: 100% of the balance was unsecured). 3 Debt with original maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. 4 Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. |
Debt issued | |
Notes Disclosure Debt Issued Held At Amortized Cost [Line Items] | |
Maturity Analysis For Non-derivative Financial Liabilities | Contractual maturity of carrying value CHF million, except where indicated 2018 2019 2020 2021 2022 2023-2027 Thereafter Total 31.12.17 Total 31.12.16 UBS Group AG 1 Subordinated debt Fixed-rate 0 0 0 0 0 0 7,570 7,570 7,771 Interest rates (range in %) 5.8–7.1 Subtotal 0 0 0 0 0 0 7,570 7,570 7,771 UBS AG 2 Non-subordinated debt Fixed-rate 38,470 3,975 7,964 4,107 1,580 0 18 56,115 42,724 Interest rates (range in %) 0–6.6 2.4–4.0 0–4.9 0.1–1.4 4.0–4.0 Floating-rate 21,158 4,818 3,926 0 0 0 1,223 31,125 15,937 Subordinated debt Fixed-rate 0 0 0 0 1,912 7,073 0 8,985 11,554 Interest rates (range in %) 7.6–7.6 4.8–8.8 Subtotal 59,628 8,793 11,891 4,107 3,492 7,073 1,241 96,225 70,215 Other subsidiaries 3 Non-subordinated debt Fixed-rate 805 747 2,186 2,940 4,535 15,723 2,855 29,791 23,843 Interest rates (range in %) 0.4–3.8 0.6–2.9 0.1–2.8 0.1–3.0 0.1–3.4 0.1–4.1 0.2–4.3 Floating-rate 1 0 293 976 2,535 2,162 0 5,966 1,820 Subtotal 806 746 2,479 3,916 7,070 17,885 2,855 35,756 25,663 Total 60,434 9,540 14,370 8,022 10,562 24,958 11,666 139,551 103,649 1 Comprises debt issued by the legal entity UBS Group AG. 2 Comprises debt issued by the legal entity UBS AG. 3 Comprises debt issued by other direct subsidiaries of UBS Group AG and by subsidiaries of UBS AG. |
UBS AG | |
Notes Disclosure Debt Issued Held At Amortized Cost [Line Items] | |
Disclosure Of Detailed Information About Borrowings Explanatory | CHF million 31.12.17 31.12.16 Certificates of deposit 23,831 20,207 Commercial paper 23,532 1,653 Other short-term debt 3,590 4,318 Short-term debt 1 50,953 26,178 Senior fixed-rate bonds 32,268 27,008 of which: issued by UBS AG with original maturity greater than one year 2 32,256 26,850 Covered bonds 4,112 5,836 Subordinated debt 8,985 11,554 of which: low-trigger loss-absorbing tier 2 capital instruments 8,286 10,429 of which: non-Basel III-compliant tier 2 capital instruments 700 1,125 Debt issued through the central bond institutions of the Swiss regional or cantonal banks 8,345 8,302 Other long-term debt 87 121 of which: issued by UBS AG with original maturity greater than one year 2 66 94 Long-term debt 3 53,796 52,820 Total debt issued held at amortized cost 4 104,749 78,998 1 Debt with an original maturity of less than one year. 2 Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. 100% of the balance as of 31 December 2017 was unsecured (31 December 2016: 100% of the balance was unsecured). 3 Debt with original maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. 4 Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. |
UBS AG | Debt issued | |
Notes Disclosure Debt Issued Held At Amortized Cost [Line Items] | |
Maturity Analysis For Non-derivative Financial Liabilities | Contractual maturity of carrying value CHF million, except where indicated 2018 2019 2020 2021 2022 2023–2027 Thereafter Total 31.12.17 Total 31.12.16 UBS AG 1 Non-subordinated debt Fixed-rate 38,470 3,975 7,987 4,162 1,643 0 3 56,239 42,999 Interest rates (range in %) 0–6.6 2.4–4.0 0–4.9 0.1–1.4 4.0–4.0 Floating-rate 21,158 4,818 3,926 0 0 0 1,223 31,125 15,937 Subordinated debt Fixed-rate 0 0 0 0 1,912 7,073 0 8,985 11,554 Interest rates (range in %) 7.6–7.6 4.8–8.8 Subtotal 59,628 8,793 11,913 4,162 3,555 7,073 1,225 96,349 70,490 Other subsidiaries 2 Non-subordinated debt Fixed-rate 805 747 725 1,000 835 3,384 903 8,398 8,507 Interest rates (range in %) 0.4–3.8 0.6–2.9 0.1–2.8 0.1–2.4 0.1–3.4 0.1–2.8 0.2–2.7 Floating-rate 1 0 1 0 0 0 0 1 1 Subtotal 806 746 726 1,000 835 3,384 903 8,400 8,507 Total 60,434 9,540 12,639 5,162 4,389 10,457 2,128 104,749 78,998 1 Comprises debt issued by the legal entity UBS AG. 2 Comprises debt issued by subsidiaries of UBS AG. |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Other Provisions [Line Items] | |
Disclosure Of Other Provisions Explanatory | a) Provisions CHF million Operational risks 1 Litigation, regulatory and similar matters 2 Restruc- turing Loan com- mitments and guarantees Real estate Employee benefits 5 Other Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 50 3,261 498 54 142 77 91 4,174 4,164 Additions from acquired companies 0 0 0 0 0 0 7 7 0 Increase in provisions recognized in the income statement 15 682 220 11 3 12 45 988 1,433 Release of provisions recognized in the income statement (7) (209) (80) (32) (2) (21) (20) (371) (288) Provisions used in conformity with designated purpose (13) (1,230) (313) 0 (12) (1) (34) (1,604) (1,152) Capitalized reinstatement costs 0 0 0 0 7 0 0 7 (2) Reclassifications 0 0 0 0 0 0 0 0 10 Foreign currency translation / unwind of discount (3) (59) (2) 0 (5) 1 1 (68) 10 Balance at the end of the year 43 2,444 322 3 33 134 4 68 89 3,133 4,174 1 Comprises provisions for losses resulting from security risks and transaction processing risks. 2 Comprises provisions for losses resulting from legal, liability and compliance risks. 3 Primarily consists of personnel-related restructuring provisions of CHF 83 million as of 31 December 2017 (31 December 2016: CHF 150 million) and provisions for onerous lease contracts of CHF 235 million as of 31 December 2017 (31 December 2016: CHF 348 million). 4 Consists of reinstatement costs for leasehold improvements of CHF 92 million as of 31 December 2017 (31 December 2016: CHF 87 million) and provisions for onerous lease contracts of CHF 41 million as of 31 December 2017 (31 December 2016: CHF 55 million). 5 Includes provisions for sabbatical and anniversary awards as well as provisions for severance that are not part of restructuring provisions. |
UBS AG | |
Disclosure Of Other Provisions [Line Items] | |
Disclosure Of Other Provisions Explanatory | a) Provisions CHF million Operational risks 1 Litigation, regulatory and similar matters 2 Restruc- turing Loan com- mitments and guarantees Real estate Employee benefits 5 Other Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 50 3,261 498 54 138 77 91 4,169 4,163 Additions from acquired companies 0 0 0 0 0 0 7 7 0 Increase in provisions recognized in the income statement 15 682 174 11 3 11 45 941 1,430 Release of provisions recognized in the income statement (7) (209) (74) (32) (2) (18) (20) (362) (288) Provisions used in conformity with designated purpose (13) (1,230) (280) 0 (12) (1) (34) (1,571) (1,152) Capitalized reinstatement costs 0 0 0 0 4 0 0 4 (1) Reclassifications 0 0 (21) 0 0 (14) 0 (36) 7 Foreign currency translation / unwind of discount (3) (59) (2) 0 (5) 1 1 (68) 10 Balance at the end of the year 43 2,444 294 3 33 125 4 55 89 3,084 4,169 1 Comprises provisions for losses resulting from security risks and transaction processing risks. 2 Comprises provisions for losses resulting from legal, liability and compliance risks. 3 Primarily consists of personnel-related restructuring provisions of CHF 54 million as of 31 December 2017 (31 December 2016: CHF 150 million) and provisions for onerous lease contracts of CHF 235 million as of 31 December 2017 (31 December 2016: CHF 348 million). 4 Consists of reinstatement costs for leasehold improvements of CHF 86 million as of 31 December 2017 (31 December 2016: CHF 85 million) and provisions for onerous lease contracts of CHF 39 million as of 31 December 2017 (31 December 2016: CHF 53 million). 5 Includes provisions for sabbatical and anniversary awards as well as provisions for severance that are not part of restructuring provisions. |
Litigation, regulatory and si87
Litigation, regulatory and similar matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Litigation Regulatory And Similar Matters [Line Items] | |
Disclosure of provisions for litigation, regulatory and similar matters [text block] | Provisions for litigation, regulatory and similar matters by business division and Corporate Center unit 1 CHF million Wealth Manage- ment Wealth Manage- ment Americas Personal & Corporate Banking Asset Manage- ment Investment Bank CC – Services CC – Group ALM CC – Non-core and Legacy Portfolio Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 292 425 78 5 616 259 0 1,585 3,261 2,983 Increase in provisions recognized in the income statement 30 158 3 6 8 248 0 229 682 856 Release of provisions recognized in the income statement (4) (12) (1) (9) 2 (49) (6) 0 (129) (209) (48) Provisions used in conformity with designated purpose (135) (207) (2) (1) (216) (262) 0 (406) (1,230) (554) Foreign currency translation / unwind of discount 24 (17) 2 0 (15) 1 0 (55) (59) 25 Balance at the end of the year 207 348 79 1 345 240 0 1,224 2,444 3,261 1 Provisions, if any, for the matters described in this Note are recorded in Wealth Management (item 3), Wealth Management Americas (item 4), the Investment Bank (item 7) and Corporate Center – Non-core and Legacy Portfolio (item 2). Provisions, if any, for the matters described in items 1 and 6 of this Note are allocated between Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this Note in item 5 are allocated between the Investment Bank, Corporate Center – Services and Corporate Center – Non-core and Legacy Portfolio. 2 In 2017, a release of CHF 5 million was recognized in Provisions for litigation, regulatory and similar matters, with a corresponding increase in Other provisions. |
UBS AG | |
Notes Litigation Regulatory And Similar Matters [Line Items] | |
Disclosure of provisions for litigation, regulatory and similar matters [text block] | Provisions for litigation, regulatory and similar matters by business division and Corporate Center unit 1 CHF million Wealth Manage- ment Wealth Manage- ment Americas Personal & Corporate Banking Asset Manage- ment Investment Bank CC – Services CC – Group ALM CC – Non-core and Legacy Portfolio Total 31.12.17 Total 31.12.16 Balance at the beginning of the year 292 425 78 5 616 259 0 1,585 3,261 2,983 Increase in provisions recognized in the income statement 30 158 3 6 8 248 0 229 682 856 Release of provisions recognized in the income statement (4) (12) (1) (9) 2 (49) (6) 0 (129) (209) (48) Provisions used in conformity with designated purpose (135) (207) (2) (1) (216) (262) 0 (406) (1,230) (554) Foreign currency translation / unwind of discount 24 (17) 2 0 (15) 1 0 (55) (59) 25 Balance at the end of the year 207 348 79 1 345 240 0 1,224 2,444 3,261 1 Provisions, if any, for the matters described in this Note are recorded in Wealth Management (item 3), Wealth Management Americas (item 4), the Investment Bank (item 7) and Corporate Center – Non-core and Legacy Portfolio (item 2). Provisions, if any, for the matters described in items 1 and 6 of this Note are allocated between Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this Note in item 5 are allocated between the Investment Bank, Corporate Center – Services and Corporate Center – Non-core and Legacy Portfolio. 2 In 2017, a release of CHF 5 million was recognized in Provisions for litigation, regulatory and similar matters, with a corresponding increase in Other provisions. |
Other liabilities (Tables)
Other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | Note 21 Other liabilities CHF million 31.12.17 31.12.16 Prime brokerage payables 1 29,646 31,973 Amounts due under unit-linked investment contracts 11,523 9,286 Compensation-related liabilities 7,674 7,421 of which: accrued expenses 2,670 2,423 of which: Deferred Contingent Capital Plan 1,993 1,625 of which: other deferred compensation plans 2,086 2,107 of which: net defined benefit pension and post-employment liabilities 2 925 1,266 Third-party interest in consolidated investment funds 254 701 Settlement and clearing accounts 1,395 1,012 Current and deferred tax liabilities 3 912 949 VAT and other tax payables 415 503 Deferred income 150 168 Accrued interest expenses 1,513 1,553 Other accrued expenses 2,444 2,448 Liabilities of disposal group held for sale 4 0 5,213 Other 1,138 793 Total other liabilities 57,064 62,020 1 Prime brokerage services include clearance, settlement, custody, financing and portfolio reporting services for corporate clients trading across multiple asset classes. Prime brokerage payables are mainly comprised of client securities financing and deposits. 2 Refer to Note 26 for more information. 3 Refer to Note 8 for more information. 4 Refer to Note 30 for more information. |
UBS AG | |
Notes Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | Note 21 Other liabilities CHF million 31.12.17 31.12.16 Prime brokerage payables 1 29,646 31,973 Amounts due under unit-linked investment contracts 11,523 9,286 Compensation-related liabilities 4,909 5,256 of which: accrued expenses 2,372 2,367 of which: other deferred compensation plans 1,613 1,623 of which: net defined benefit pension and post-employment liabilities 2 925 1,266 Third-party interest in consolidated investment funds 269 751 Settlement and clearing accounts 1,380 1,011 Current and deferred tax liabilities 3 844 911 VAT and other tax payables 378 487 Deferred income 150 168 Accrued interest expenses 1,533 1,571 Other accrued expenses 2,105 2,427 Liabilities of disposal group held for sale 4 0 5,213 Other 2,252 1,390 Total other liabilities 54,990 60,443 1 Prime brokerage services include clearance, settlement, custody, financing and portfolio reporting services for corporate clients trading across multiple asset classes. Prime brokerage payables are mainly comprised of client securities financing and deposits. 2 Refer to Note 26 for more information. 3 Refer to Note 8 for more information. 4 Refer to Note 30 for more information. |
Fair value measurement (Tables)
Fair value measurement (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Fair Value Measurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Determination of fair values from quoted market prices or valuation techniques 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets measured at fair value on a recurring basis Financial assets held for trading 2 108,962 15,211 1,972 126,144 76,044 14,292 1,689 92,025 of which: Government bills / bonds 11,935 918 0 12,854 10,500 1,319 0 11,820 Corporate and municipal bonds 37 7,974 552 8,563 58 6,638 591 7,287 Loans 0 3,346 501 3,847 0 1,356 681 2,037 Investment fund units 7,223 1,839 571 9,632 6,114 3,521 63 9,698 Asset-backed securities 0 194 174 368 0 470 215 685 Equity instruments 79,274 186 105 79,565 50,913 397 65 51,375 Financial assets for unit-linked investment contracts 10,492 755 69 11,316 8,459 591 74 9,123 Positive replacement values 458 116,221 1,549 118,227 434 155,428 2,549 158,411 of which: Interest rate contracts 1 43,913 135 44,049 8 57,703 278 57,988 Credit derivative contracts 0 2,266 550 2,816 0 2,562 1,313 3,875 Foreign exchange contracts 207 46,748 189 47,143 263 75,607 222 76,092 Equity / index contracts 16 21,541 675 22,232 1 17,274 729 18,003 Commodity contracts 0 1,727 0 1,727 0 2,269 8 2,277 Financial assets designated at fair value 23,032 34,481 1,419 58,933 39,641 23,632 2,079 65,353 of which: Government bills / bonds 22,062 3,900 0 25,961 39,439 4,361 0 43,799 Corporate and municipal bonds 765 20,702 0 21,467 15 16,860 0 16,875 Loans (including structured loans) 0 9,385 758 10,143 0 2,043 1,195 3,238 Structured reverse repurchase and securities borrowing agreements 0 118 173 291 0 40 644 684 Other 205 377 489 1,071 187 329 240 756 Financial assets available for sale 3,000 5,157 507 8,665 6,299 8,891 486 15,676 of which: Government bills / bonds 2,733 133 0 2,866 5,444 450 0 5,894 Corporate and municipal bonds 121 1,060 9 1,189 646 4,939 12 5,596 Investment fund units 0 70 115 185 0 51 126 177 Asset-backed securities 0 3,880 0 3,880 0 3,381 0 3,381 Equity instruments 146 16 384 546 204 71 336 611 Non-financial assets Precious metals and other physical commodities 4,563 0 0 4,563 4,583 0 0 4,583 Assets measured at fair value on a non-recurring basis Other assets 3 0 54 42 95 5,060 131 56 5,248 Total assets measured at fair value 140,015 171,125 5,489 316,629 132,062 202,377 6,860 341,298 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities measured at fair value on a recurring basis Trading portfolio liabilities 26,037 4,309 117 30,463 18,807 3,898 119 22,824 of which: Government bills / bonds 5,153 256 0 5,409 5,573 648 0 6,221 Corporate and municipal bonds 50 3,453 35 3,538 12 2,927 37 2,976 Investment fund units 541 263 16 820 484 91 20 595 Equity instruments 20,293 336 66 20,695 12,738 227 62 13,026 Negative replacement values 398 112,928 2,807 116,133 539 149,255 4,016 153,810 of which: Interest rate contracts 5 38,196 186 38,387 12 51,990 475 52,476 Credit derivative contracts 0 3,196 601 3,797 0 3,269 1,538 4,807 Foreign exchange contracts 213 45,150 122 45,485 274 71,668 148 72,089 Equity / index contracts 42 24,803 1,896 26,741 1 20,254 1,854 22,109 Commodity contracts 0 1,561 1 1,562 0 2,040 1 2,041 Financial liabilities designated at fair value 0 41,376 12,826 54,202 2 44,007 11,008 55,017 of which: Issued debt instruments 0 38,617 10,885 49,502 0 40,242 9,688 49,930 Over-the-counter debt instruments 0 2,385 1,930 4,315 2 3,611 1,050 4,663 Structured repurchase agreements 0 372 4 376 0 130 266 395 Loan commitments and guarantees 0 2 7 9 0 25 5 29 Other liabilities – amounts due under unit-linked investment contracts 0 11,523 0 11,523 0 9,286 0 9,286 Liabilities measured at fair value on a non-recurring basis Other liabilities 3 0 1 0 1 0 5,213 0 5,213 Total liabilities measured at fair value 26,435 170,138 15,750 212,323 19,347 211,660 15,143 246,150 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets held for trading exclude precious metals and other physical commodities. 3 Other assets and other liabilities primarily consist of assets held for sale as well as assets and liabilities of a disposal group held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Determination of fair values from quoted market prices or valuation techniques 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets measured at fair value on a recurring basis Financial assets held for trading 2 108,962 15,211 1,972 126,144 76,044 14,292 1,689 92,025 of which: Government bills / bonds 11,935 918 0 12,854 10,500 1,319 0 11,820 Corporate and municipal bonds 37 7,974 552 8,563 58 6,638 591 7,287 Loans 0 3,346 501 3,847 0 1,356 681 2,037 Investment fund units 7,223 1,839 571 9,632 6,114 3,521 63 9,698 Asset-backed securities 0 194 174 368 0 470 215 685 Equity instruments 79,274 186 105 79,565 50,913 397 65 51,375 Financial assets for unit-linked investment contracts 10,492 755 69 11,316 8,459 591 74 9,123 Positive replacement values 458 116,221 1,549 118,227 434 155,428 2,549 158,411 of which: Interest rate contracts 1 43,913 135 44,049 8 57,703 278 57,988 Credit derivative contracts 0 2,266 550 2,816 0 2,562 1,313 3,875 Foreign exchange contracts 207 46,748 189 47,143 263 75,607 222 76,092 Equity / index contracts 16 21,541 675 22,232 1 17,274 729 18,003 Commodity contracts 0 1,727 0 1,727 0 2,269 8 2,277 Financial assets designated at fair value 23,032 34,481 1,419 58,933 39,641 23,632 2,079 65,353 of which: Government bills / bonds 22,062 3,900 0 25,961 39,439 4,361 0 43,799 Corporate and municipal bonds 765 20,702 0 21,467 15 16,860 0 16,875 Loans (including structured loans) 0 9,385 758 10,143 0 2,043 1,195 3,238 Structured reverse repurchase and securities borrowing agreements 0 118 173 291 0 40 644 684 Other 205 377 489 1,071 187 329 240 756 Financial assets available for sale 3,000 5,157 507 8,665 6,299 8,891 486 15,676 of which: Government bills / bonds 2,733 133 0 2,866 5,444 450 0 5,894 Corporate and municipal bonds 121 1,060 9 1,189 646 4,939 12 5,596 Investment fund units 0 70 115 185 0 51 126 177 Asset-backed securities 0 3,880 0 3,880 0 3,381 0 3,381 Equity instruments 146 16 384 546 204 71 336 611 Non-financial assets Precious metals and other physical commodities 4,563 0 0 4,563 4,583 0 0 4,583 Assets measured at fair value on a non-recurring basis Other assets 3 0 54 42 95 5,060 131 56 5,248 Total assets measured at fair value 140,015 171,125 5,489 316,629 132,062 202,377 6,860 341,298 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities measured at fair value on a recurring basis Trading portfolio liabilities 26,037 4,309 117 30,463 18,807 3,898 119 22,824 of which: Government bills / bonds 5,153 256 0 5,409 5,573 648 0 6,221 Corporate and municipal bonds 50 3,453 35 3,538 12 2,927 37 2,976 Investment fund units 541 263 16 820 484 91 20 595 Equity instruments 20,293 336 66 20,695 12,738 227 62 13,026 Negative replacement values 398 112,928 2,807 116,133 539 149,255 4,016 153,810 of which: Interest rate contracts 5 38,196 186 38,387 12 51,990 475 52,476 Credit derivative contracts 0 3,196 601 3,797 0 3,269 1,538 4,807 Foreign exchange contracts 213 45,150 122 45,485 274 71,668 148 72,089 Equity / index contracts 42 24,803 1,896 26,741 1 20,254 1,854 22,109 Commodity contracts 0 1,561 1 1,562 0 2,040 1 2,041 Financial liabilities designated at fair value 0 41,376 12,826 54,202 2 44,007 11,008 55,017 of which: Issued debt instruments 0 38,617 10,885 49,502 0 40,242 9,688 49,930 Over-the-counter debt instruments 0 2,385 1,930 4,315 2 3,611 1,050 4,663 Structured repurchase agreements 0 372 4 376 0 130 266 395 Loan commitments and guarantees 0 2 7 9 0 25 5 29 Other liabilities – amounts due under unit-linked investment contracts 0 11,523 0 11,523 0 9,286 0 9,286 Liabilities measured at fair value on a non-recurring basis Other liabilities 3 0 1 0 1 0 5,213 0 5,213 Total liabilities measured at fair value 26,435 170,138 15,750 212,323 19,347 211,660 15,143 246,150 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets held for trading exclude precious metals and other physical commodities. 3 Other assets and other liabilities primarily consist of assets held for sale as well as assets and liabilities of a disposal group held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. |
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block] | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.17 31.12.16 CHF billion 31.12.17 31.12.16 31.12.17 31.12.16 low high weighted average 2 low high weighted average 2 unit 1 Financial assets held for trading / Trading portfolio liabilities, Financial assets / liabilities designated at fair value and Financial assets available for sale Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 133 92 0 128 88 points Traded loans, loans designated at fair value, loan commitments and guarantees 1.7 2.0 0.0 0.0 Relative value to market comparable Loan price equivalent 50 102 98 39 103 94 points Discounted expected cash flows Credit spread 23 124 71 554 basis points Market comparable and securitization model Discount margin 0 14 2 0 16 2 % Investment fund units 3 0.7 0.2 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.5 0.4 0.1 0.1 Relative value to market comparable Price Structured (reverse) repurchase agreements 0.2 0.6 0.0 0.3 Discounted expected cash flows Funding spread 15 195 15 195 basis points Issued and over-the-counter debt instruments 4 12.8 10.7 Replacement values Interest rate contracts 0.1 0.3 0.2 0.5 Option model Volatility of interest rates 26 229 26 176 % Credit derivative contracts 0.5 1.3 0.6 1.5 Discounted expected cash flows Credit spreads 6 550 0 791 basis points Bond price equivalent 2 102 3 100 points Equity / index contracts 0.7 0.7 1.9 1.9 Option model Equity dividend yields 0 13 0 15 % Volatility of equity stocks, equity and other indices 0 172 0 150 % Equity-to-FX correlation (39) 70 (45) 82 % Equity-to-equity correlation (50) 97 12 98 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 4 Valuation techniques, significant unobservable inputs and the respective input ranges for issued debt instruments and over-the-counter debt instruments are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. |
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [text block] | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.17 31.12.16 CHF billion 31.12.17 31.12.16 31.12.17 31.12.16 low high weighted average 2 low high weighted average 2 unit 1 Financial assets held for trading / Trading portfolio liabilities, Financial assets / liabilities designated at fair value and Financial assets available for sale Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 133 92 0 128 88 points Traded loans, loans designated at fair value, loan commitments and guarantees 1.7 2.0 0.0 0.0 Relative value to market comparable Loan price equivalent 50 102 98 39 103 94 points Discounted expected cash flows Credit spread 23 124 71 554 basis points Market comparable and securitization model Discount margin 0 14 2 0 16 2 % Investment fund units 3 0.7 0.2 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.5 0.4 0.1 0.1 Relative value to market comparable Price Structured (reverse) repurchase agreements 0.2 0.6 0.0 0.3 Discounted expected cash flows Funding spread 15 195 15 195 basis points Issued and over-the-counter debt instruments 4 12.8 10.7 Replacement values Interest rate contracts 0.1 0.3 0.2 0.5 Option model Volatility of interest rates 26 229 26 176 % Credit derivative contracts 0.5 1.3 0.6 1.5 Discounted expected cash flows Credit spreads 6 550 0 791 basis points Bond price equivalent 2 102 3 100 points Equity / index contracts 0.7 0.7 1.9 1.9 Option model Equity dividend yields 0 13 0 15 % Volatility of equity stocks, equity and other indices 0 172 0 150 % Equity-to-FX correlation (39) 70 (45) 82 % Equity-to-equity correlation (50) 97 12 98 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 4 Valuation techniques, significant unobservable inputs and the respective input ranges for issued debt instruments and over-the-counter debt instruments are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. |
Disclosure Of Deferred Day-One Profit Or Loss Explanatory | Deferred day-1 profit or loss For the year ended CHF million 31.12.17 31.12.16 31.12.15 Balance at the beginning of the year 371 421 480 Profit / (loss) deferred on new transactions 242 254 268 (Profit) / loss recognized in the income statement (274) (290) (321) (Profit) / loss recognized in other comprehensive income (23) Foreign currency translation (10) 9 (6) Balance at the end of the year 329 371 421 |
Disclosure Of Change In Fair Value Of Financial Liability Attributable To Change In Credit Risk Of Liability Explanatory | Own credit adjustments on financial liabilities designated at fair value For the year ended Included in Other comprehensive income Included in Net trading income CHF million 31.12.17 31.12.16 31.12.15 Recognized during the year: Realized gain / (loss) 21 18 Unrealized gain / (loss) (333) (138) 553 Total gain / (loss), before tax (312) (120) As of CHF million 31.12.17 31.12.16 31.12.15 Recognized on the balance sheet as of the end of the year: Unrealized life-to-date gain / (loss) (195) 141 287 |
Disclosure Of Valuation Adjustments On Financial Instruments Explanatory | Valuation adjustments on financial instruments As of Life-to-date gain / (loss), CHF million 31.12.17 31.12.16 Credit valuation adjustments 1 (113) (216) Funding valuation adjustments (49) (106) Debit valuation adjustments 2 5 Other valuation adjustments (715) (713) of which: liquidity (465) (439) of which: model uncertainty (250) (274) 1 Amounts do not include reserves against defaulted counterparties. |
Disclosure Of Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Explanatory | Sensitivity of fair value measurements to changes in unobservable input assumptions 1 31.12.17 31.12.16 CHF million Favorable changes 2 Unfavorable changes 2 Favorable changes 2 Unfavorable changes 2 Traded loans, loans designated at fair value, loan commitments and guarantees 79 (11) 80 (8) Asset-backed securities 19 (15) 23 (29) Equity instruments 79 (53) 85 (66) Interest rate derivative contracts, net 13 (26) 30 (30) Credit derivative contracts, net 64 (99) 128 (174) Foreign exchange derivative contracts, net 12 (6) 18 (9) Equity / index derivative contracts, net 190 (193) 142 (143) Structured (reverse) repurchase agreements 34 (34) 43 (46) Other 13 (13) 12 (12) Total 502 (450) 560 (517) 1 Effective 31 December 2017, the sensitivity of issued and over-the-counter debt instruments is reported with the equivalent derivative or structured financing instrument. Prior-period information has been restated to reflect this change in presentation. 2 Of the total favorable changes, CHF 78 million as of 31 December 2017 (31 December 2016: CHF 75 million) related to financial assets available for sale. Of the total unfavorable changes, CHF 51 million as of 31 December 2017 (31 December 2016: CHF 55 million) related to financial assets available for sale. |
Non-recurring Fair Value Measurement [Member] | |
Notes Fair Value Measurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Financial instruments not measured at fair value 31.12.17 31.12.16 Carrying value Fair value Carrying value Fair value CHF billion Total Total Level 1 Level 2 Level 3 Total Total Level 1 Level 2 Level 3 Assets Cash and balances with central banks 87.8 87.8 87.8 0.0 0.0 107.8 107.8 107.8 0.0 0.0 Due from banks 13.7 13.7 13.1 0.6 0.0 13.2 13.2 12.5 0.7 0.0 Cash collateral on securities borrowed 12.4 12.4 0.0 12.4 0.0 15.1 15.1 0.0 15.1 0.0 Reverse repurchase agreements 77.2 77.2 0.0 74.8 2.5 66.2 66.2 0.0 62.5 3.7 Cash collateral receivables on derivative instruments 23.4 23.4 0.0 23.4 0.0 26.7 26.7 0.0 26.7 0.0 Loans 319.6 321.0 0.0 176.7 144.3 306.3 309.7 0.0 169.3 140.4 Financial assets held to maturity 9.2 9.0 6.3 2.7 0.0 9.3 9.1 6.3 2.8 0.0 Other assets 27.9 27.9 0.0 27.9 0.0 18.5 18.5 0.0 18.5 0.0 Liabilities Due to banks 7.5 7.5 6.5 1.1 0.0 10.6 10.6 8.8 1.9 0.0 Cash collateral on securities lent 1.8 1.8 0.0 1.8 0.0 2.8 2.8 0.0 2.8 0.0 Repurchase agreements 15.3 15.3 0.0 15.3 0.0 6.6 6.6 0.0 6.6 0.0 Cash collateral payables on derivative instruments 30.2 30.2 0.0 30.2 0.0 35.5 35.5 0.0 35.5 0.0 Due to customers 409.0 409.0 0.0 409.0 0.0 423.7 423.7 0.0 423.7 0.0 Debt issued 139.6 143.5 0.0 139.1 4.3 103.7 106.1 0.0 103.5 2.6 Other liabilities 36.3 36.3 0.0 36.3 0.0 38.3 38.4 0.0 38.4 0.0 |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Financial instruments not measured at fair value 31.12.17 31.12.16 Carrying value Fair value Carrying value Fair value CHF billion Total Total Level 1 Level 2 Level 3 Total Total Level 1 Level 2 Level 3 Assets Cash and balances with central banks 87.8 87.8 87.8 0.0 0.0 107.8 107.8 107.8 0.0 0.0 Due from banks 13.7 13.7 13.1 0.6 0.0 13.2 13.2 12.5 0.7 0.0 Cash collateral on securities borrowed 12.4 12.4 0.0 12.4 0.0 15.1 15.1 0.0 15.1 0.0 Reverse repurchase agreements 77.2 77.2 0.0 74.8 2.5 66.2 66.2 0.0 62.5 3.7 Cash collateral receivables on derivative instruments 23.4 23.4 0.0 23.4 0.0 26.7 26.7 0.0 26.7 0.0 Loans 319.6 321.0 0.0 176.7 144.3 306.3 309.7 0.0 169.3 140.4 Financial assets held to maturity 9.2 9.0 6.3 2.7 0.0 9.3 9.1 6.3 2.8 0.0 Other assets 27.9 27.9 0.0 27.9 0.0 18.5 18.5 0.0 18.5 0.0 Liabilities Due to banks 7.5 7.5 6.5 1.1 0.0 10.6 10.6 8.8 1.9 0.0 Cash collateral on securities lent 1.8 1.8 0.0 1.8 0.0 2.8 2.8 0.0 2.8 0.0 Repurchase agreements 15.3 15.3 0.0 15.3 0.0 6.6 6.6 0.0 6.6 0.0 Cash collateral payables on derivative instruments 30.2 30.2 0.0 30.2 0.0 35.5 35.5 0.0 35.5 0.0 Due to customers 409.0 409.0 0.0 409.0 0.0 423.7 423.7 0.0 423.7 0.0 Debt issued 139.6 143.5 0.0 139.1 4.3 103.7 106.1 0.0 103.5 2.6 Other liabilities 36.3 36.3 0.0 36.3 0.0 38.3 38.4 0.0 38.4 0.0 |
Level 3 | |
Notes Fair Value Measurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.17 31.12.16 CHF billion 31.12.17 31.12.16 31.12.17 31.12.16 low high weighted average 2 low high weighted average 2 unit 1 Financial assets held for trading / Trading portfolio liabilities, Financial assets / liabilities designated at fair value and Financial assets available for sale Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 133 92 0 128 88 points Traded loans, loans designated at fair value, loan commitments and guarantees 1.7 2.0 0.0 0.0 Relative value to market comparable Loan price equivalent 50 102 98 39 103 94 points Discounted expected cash flows Credit spread 23 124 71 554 basis points Market comparable and securitization model Discount margin 0 14 2 0 16 2 % Investment fund units 3 0.7 0.2 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.5 0.4 0.1 0.1 Relative value to market comparable Price Structured (reverse) repurchase agreements 0.2 0.6 0.0 0.3 Discounted expected cash flows Funding spread 15 195 15 195 basis points Issued and over-the-counter debt instruments 4 12.8 10.7 Replacement values Interest rate contracts 0.1 0.3 0.2 0.5 Option model Volatility of interest rates 26 229 26 176 % Credit derivative contracts 0.5 1.3 0.6 1.5 Discounted expected cash flows Credit spreads 6 550 0 791 basis points Bond price equivalent 2 102 3 100 points Equity / index contracts 0.7 0.7 1.9 1.9 Option model Equity dividend yields 0 13 0 15 % Volatility of equity stocks, equity and other indices 0 172 0 150 % Equity-to-FX correlation (39) 70 (45) 82 % Equity-to-equity correlation (50) 97 12 98 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 4 Valuation techniques, significant unobservable inputs and the respective input ranges for issued debt instruments and over-the-counter debt instruments are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.17 31.12.16 CHF billion 31.12.17 31.12.16 31.12.17 31.12.16 low high weighted average 2 low high weighted average 2 unit 1 Financial assets held for trading / Trading portfolio liabilities, Financial assets / liabilities designated at fair value and Financial assets available for sale Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 133 92 0 128 88 points Traded loans, loans designated at fair value, loan commitments and guarantees 1.7 2.0 0.0 0.0 Relative value to market comparable Loan price equivalent 50 102 98 39 103 94 points Discounted expected cash flows Credit spread 23 124 71 554 basis points Market comparable and securitization model Discount margin 0 14 2 0 16 2 % Investment fund units 3 0.7 0.2 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.5 0.4 0.1 0.1 Relative value to market comparable Price Structured (reverse) repurchase agreements 0.2 0.6 0.0 0.3 Discounted expected cash flows Funding spread 15 195 15 195 basis points Issued and over-the-counter debt instruments 4 12.8 10.7 Replacement values Interest rate contracts 0.1 0.3 0.2 0.5 Option model Volatility of interest rates 26 229 26 176 % Credit derivative contracts 0.5 1.3 0.6 1.5 Discounted expected cash flows Credit spreads 6 550 0 791 basis points Bond price equivalent 2 102 3 100 points Equity / index contracts 0.7 0.7 1.9 1.9 Option model Equity dividend yields 0 13 0 15 % Volatility of equity stocks, equity and other indices 0 172 0 150 % Equity-to-FX correlation (39) 70 (45) 82 % Equity-to-equity correlation (50) 97 12 98 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 4 Valuation techniques, significant unobservable inputs and the respective input ranges for issued debt instruments and over-the-counter debt instruments are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. |
Disclosure Of Fair Value Of Financial Instruments Explanatory | Movements of Level 3 instruments + Total gains / (losses) included in comprehensive income + Total gains / (losses) included in comprehensive income CHF billion Balance as of 31 December 2015 Net interest income, net trading income and other income of which: related to Level 3 instruments held at the end of the reporting period Purchases Sales Issuances Settlements Transfers into Level 3 Transfers out of Level 3 Foreign currency translation + Balance as of 31 December 2016 Net interest income, net trading income and other income of which: related to Level 3 instruments held at the end of the reporting period Purchases Sales Issuances Settlements Transfers into Level 3 Transfers out of Level 3 Foreign currency translation Balance as of 31 December 2017 1 + Financial assets held for trading 2.1 0.1 0.0 0.9 (6.8) 4.1 0.0 1.7 (0.3) (0.1) + 1.7 (0.1) 0.0 0.7 (3.8) 2.7 0.0 0.9 (0.2) 0.0 2.0 of which: + Corporate and municipal bonds 0.7 0.2 0.1 0.6 (0.8) 0.0 0.0 0.1 (0.1) (0.1) + 0.6 0.1 0.1 0.4 (0.7) 0.0 0.0 0.1 0.0 0.0 0.6 Loans 0.8 (0.1) (0.1) 0.1 (5.2) 4.1 0.0 1.1 (0.2) 0.0 + 0.7 0.0 (0.1) 0.1 (2.8) 2.7 0.0 0.0 (0.1) 0.0 0.5 Other 0.6 0.0 0.0 0.2 (0.8) 0.0 0.0 0.5 0.0 0.0 + 0.4 (0.1) 0.0 0.2 (0.3) 0.0 0.0 0.8 0.0 0.0 0.9 + Financial assets designated at fair value 3.3 (0.4) (0.1) 0.1 0.0 0.7 (1.9) 0.5 (0.1) 0.0 + 2.1 0.2 0.2 0.0 0.0 0.4 (1.2) 0.1 (0.1) 0.0 1.4 of which: + Loans (including structured loans) 1.7 (0.4) (0.1) 0.0 0.0 0.6 (1.0) 0.4 (0.1) 0.0 + 1.2 0.2 0.2 0.0 0.0 0.1 (0.6) 0.0 (0.1) 0.0 0.8 Structured reverse repurchase and securities borrowing agreements 1.5 0.0 0.0 0.0 0.0 0.0 (0.9) 0.0 0.0 0.0 + 0.6 0.0 0.0 0.0 0.0 0.1 (0.6) 0.0 0.0 0.0 0.2 Other 0.1 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 + 0.2 (0.1) (0.1) 0.0 0.0 0.2 0.0 0.1 0.0 0.0 0.5 + Financial assets available for sale 0.7 0.0 0.0 0.1 (0.1) 0.0 0.0 0.0 (0.1) 0.0 + 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.5 + Positive replacement values 2.9 (0.4) (0.5) 0.0 0.0 1.0 (1.9) 1.3 (0.4) 0.0 + 2.5 (0.3) (0.4) 0.0 0.0 0.9 (1.2) 0.4 (0.8) 0.0 1.5 of which: + Credit derivative contracts 1.3 (0.2) (0.1) 0.0 0.0 0.6 (0.7) 0.4 (0.1) 0.0 + 1.3 (0.2) (0.2) 0.0 0.0 0.0 (0.3) 0.0 (0.4) 0.0 0.5 Equity / index contracts 1.0 (0.1) 0.0 0.0 0.0 0.4 (0.6) 0.2 (0.2) 0.0 + 0.7 (0.1) (0.1) 0.0 0.0 0.9 (0.7) 0.3 (0.4) 0.0 0.7 Other 0.6 (0.1) (0.3) 0.0 0.0 0.1 (0.6) 0.7 (0.1) 0.0 + 0.5 0.0 (0.1) 0.0 0.0 0.0 (0.2) 0.1 (0.1) 0.0 0.3 + Negative replacement values 3.3 0.6 0.5 0.0 0.0 1.5 (2.1) 1.2 (0.6) 0.0 + 4.0 0.2 0.1 0.0 0.0 0.7 (1.4) 0.5 (1.3) 0.1 2.8 of which: + Credit derivative contracts 1.3 0.5 0.6 0.0 0.0 0.2 (0.7) 0.3 (0.1) 0.0 + 1.5 0.0 (0.2) 0.0 0.0 0.1 (0.4) 0.2 (0.8) 0.0 0.6 Equity / index contracts 1.4 0.3 0.1 0.0 0.0 1.0 (0.8) 0.2 (0.3) 0.0 + 1.9 0.3 0.2 0.0 0.0 0.6 (0.6) 0.2 (0.5) 0.0 1.9 Other 0.6 (0.2) (0.2) 0.0 0.0 0.3 (0.6) 0.7 (0.2) 0.0 + 0.6 0.0 0.0 0.0 0.0 0.0 (0.4) 0.1 (0.1) 0.0 0.3 + Financial liabilities designated at fair value 10.7 1.0 0.6 0.0 0.0 5.0 (3.5) 0.9 (2.9) (0.1) + 11.0 1.4 0.9 0.0 0.0 6.7 (5.7) 1.3 (1.8) (0.1) 12.8 of which: + Issued debt instruments 9.3 0.9 0.6 0.0 0.0 4.1 (2.5) 0.8 (2.9) (0.1) + 9.7 1.4 0.9 0.0 0.0 5.2 (4.9) 1.2 (1.6) (0.1) 10.9 Over-the-counter debt instruments 0.8 0.1 0.0 0.0 0.0 0.8 (0.6) 0.1 0.0 0.0 + 1.1 0.0 0.0 0.0 0.0 1.5 (0.7) 0.1 0.0 0.0 1.9 Structured repurchase agreements 0.6 0.0 0.0 0.0 0.0 0.1 (0.4) 0.0 0.0 0.0 + 0.3 0.0 0.0 0.0 0.0 0.0 (0.1) 0.0 (0.2) 0.0 0.0 1 Total Level 3 assets as of 31 December 2017 were CHF 5.5 billion (31 December 2016: CHF 6.9 billion). Total Level 3 liabilities as of 31 December 2017 were CHF 15.7 billion (31 December 2016: CHF 15.1 billion). + |
UBS AG | |
Notes Fair Value Measurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Determination of fair values from quoted market prices or valuation techniques 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets measured at fair value on a recurring basis Financial assets held for trading 2 108,963 15,309 1,972 126,244 76,046 14,377 1,689 92,112 of which: Government bills / bonds 11,935 918 0 12,854 10,500 1,319 0 11,820 Corporate and municipal bonds 37 8,072 552 8,662 58 6,722 591 7,371 Loans 0 3,346 501 3,847 0 1,356 681 2,037 Investment fund units 7,223 1,839 571 9,632 6,114 3,521 63 9,698 Asset-backed securities 0 194 174 368 0 470 215 685 Equity instruments 79,276 186 105 79,566 50,916 397 65 51,378 Financial assets for unit-linked investment contracts 10,492 755 69 11,316 8,459 591 74 9,123 Positive replacement values 458 116,222 1,549 118,229 434 155,428 2,549 158,411 of which: Interest rate contracts 1 43,913 135 44,049 8 57,703 278 57,988 Credit derivative contracts 0 2,266 550 2,816 0 2,562 1,313 3,875 Foreign exchange contracts 207 46,749 189 47,145 263 75,607 222 76,092 Equity / index contracts 16 21,541 675 22,232 1 17,274 729 18,003 Commodity contracts 0 1,727 0 1,727 0 2,269 8 2,277 Financial assets designated at fair value 23,032 34,104 1,419 58,556 39,641 23,304 2,079 65,024 of which: Government bills / bonds 22,062 3,900 0 25,961 39,439 4,361 0 43,799 Corporate and municipal bonds 765 20,702 0 21,467 15 16,860 0 16,875 Loans (including structured loans) 0 9,385 758 10,143 0 2,043 1,195 3,238 Structured reverse repurchase and securities borrowing agreements 0 118 173 291 0 40 644 684 Other 205 0 489 694 187 0 240 427 Financial assets available for sale 3,000 5,157 507 8,665 6,299 8,891 486 15,676 of which: Government bills / bonds 2,733 133 0 2,866 5,444 450 0 5,894 Corporate and municipal bonds 121 1,060 9 1,189 646 4,939 12 5,596 Investment fund units 0 70 115 185 0 51 126 177 Asset-backed securities 0 3,880 0 3,880 0 3,381 0 3,381 Equity instruments 146 16 384 546 204 71 336 611 Non-financial assets Precious metals and other physical commodities 4,563 0 0 4,563 4,583 0 0 4,583 Assets measured at fair value on a non-recurring basis Other assets 3 0 54 42 95 5,060 131 56 5,248 Total assets measured at fair value 140,017 170,848 5,489 316,353 132,064 202,132 6,860 341,056 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities measured at fair value on a recurring basis Trading portfolio liabilities 26,037 4,309 117 30,463 18,808 3,898 119 22,825 of which: Government bills / bonds 5,153 256 0 5,409 5,573 648 0 6,221 Corporate and municipal bonds 50 3,453 35 3,538 12 2,927 37 2,976 Investment fund units 541 263 16 820 484 91 20 595 Equity instruments 20,293 336 66 20,695 12,740 227 62 13,028 Negative replacement values 398 112,929 2,807 116,134 539 149,255 4,016 153,810 of which: Interest rate contracts 5 38,196 186 38,387 12 51,990 475 52,476 Credit derivative contracts 0 3,196 601 3,797 0 3,269 1,538 4,807 Foreign exchange contracts 213 45,151 122 45,486 274 71,668 148 72,089 Equity / index contracts 42 24,803 1,896 26,741 1 20,254 1,854 22,109 Commodity contracts 0 1,561 1 1,562 0 2,040 1 2,041 Financial liabilities designated at fair value 0 41,376 12,826 54,202 2 44,007 11,008 55,017 of which: Issued debt instruments 0 38,617 10,885 49,502 0 40,242 9,688 49,930 Over-the-counter debt instruments 0 2,385 1,930 4,315 2 3,611 1,050 4,663 Structured repurchase agreements 0 372 4 376 0 130 266 395 Loan commitments and guarantees 0 2 7 9 0 25 5 29 Other liabilities – amounts due under unit-linked investment contracts 0 11,523 0 11,523 0 9,286 0 9,286 Liabilities measured at fair value on a non-recurring basis Other liabilities 3 0 1 0 1 0 5,213 0 5,213 Total liabilities measured at fair value 26,435 170,139 15,750 212,324 19,349 211,660 15,143 246,152 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets held for trading exclude precious metals and other physical commodities. 3 Other assets and other liabilities primarily consist of assets held for sale as well as assets and liabilities of a disposal group held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Determination of fair values from quoted market prices or valuation techniques 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets measured at fair value on a recurring basis Financial assets held for trading 2 108,963 15,309 1,972 126,244 76,046 14,377 1,689 92,112 of which: Government bills / bonds 11,935 918 0 12,854 10,500 1,319 0 11,820 Corporate and municipal bonds 37 8,072 552 8,662 58 6,722 591 7,371 Loans 0 3,346 501 3,847 0 1,356 681 2,037 Investment fund units 7,223 1,839 571 9,632 6,114 3,521 63 9,698 Asset-backed securities 0 194 174 368 0 470 215 685 Equity instruments 79,276 186 105 79,566 50,916 397 65 51,378 Financial assets for unit-linked investment contracts 10,492 755 69 11,316 8,459 591 74 9,123 Positive replacement values 458 116,222 1,549 118,229 434 155,428 2,549 158,411 of which: Interest rate contracts 1 43,913 135 44,049 8 57,703 278 57,988 Credit derivative contracts 0 2,266 550 2,816 0 2,562 1,313 3,875 Foreign exchange contracts 207 46,749 189 47,145 263 75,607 222 76,092 Equity / index contracts 16 21,541 675 22,232 1 17,274 729 18,003 Commodity contracts 0 1,727 0 1,727 0 2,269 8 2,277 Financial assets designated at fair value 23,032 34,104 1,419 58,556 39,641 23,304 2,079 65,024 of which: Government bills / bonds 22,062 3,900 0 25,961 39,439 4,361 0 43,799 Corporate and municipal bonds 765 20,702 0 21,467 15 16,860 0 16,875 Loans (including structured loans) 0 9,385 758 10,143 0 2,043 1,195 3,238 Structured reverse repurchase and securities borrowing agreements 0 118 173 291 0 40 644 684 Other 205 0 489 694 187 0 240 427 Financial assets available for sale 3,000 5,157 507 8,665 6,299 8,891 486 15,676 of which: Government bills / bonds 2,733 133 0 2,866 5,444 450 0 5,894 Corporate and municipal bonds 121 1,060 9 1,189 646 4,939 12 5,596 Investment fund units 0 70 115 185 0 51 126 177 Asset-backed securities 0 3,880 0 3,880 0 3,381 0 3,381 Equity instruments 146 16 384 546 204 71 336 611 Non-financial assets Precious metals and other physical commodities 4,563 0 0 4,563 4,583 0 0 4,583 Assets measured at fair value on a non-recurring basis Other assets 3 0 54 42 95 5,060 131 56 5,248 Total assets measured at fair value 140,017 170,848 5,489 316,353 132,064 202,132 6,860 341,056 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.17 31.12.16 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities measured at fair value on a recurring basis Trading portfolio liabilities 26,037 4,309 117 30,463 18,808 3,898 119 22,825 of which: Government bills / bonds 5,153 256 0 5,409 5,573 648 0 6,221 Corporate and municipal bonds 50 3,453 35 3,538 12 2,927 37 2,976 Investment fund units 541 263 16 820 484 91 20 595 Equity instruments 20,293 336 66 20,695 12,740 227 62 13,028 Negative replacement values 398 112,929 2,807 116,134 539 149,255 4,016 153,810 of which: Interest rate contracts 5 38,196 186 38,387 12 51,990 475 52,476 Credit derivative contracts 0 3,196 601 3,797 0 3,269 1,538 4,807 Foreign exchange contracts 213 45,151 122 45,486 274 71,668 148 72,089 Equity / index contracts 42 24,803 1,896 26,741 1 20,254 1,854 22,109 Commodity contracts 0 1,561 1 1,562 0 2,040 1 2,041 Financial liabilities designated at fair value 0 41,376 12,826 54,202 2 44,007 11,008 55,017 of which: Issued debt instruments 0 38,617 10,885 49,502 0 40,242 9,688 49,930 Over-the-counter debt instruments 0 2,385 1,930 4,315 2 3,611 1,050 4,663 Structured repurchase agreements 0 372 4 376 0 130 266 395 Loan commitments and guarantees 0 2 7 9 0 25 5 29 Other liabilities – amounts due under unit-linked investment contracts 0 11,523 0 11,523 0 9,286 0 9,286 Liabilities measured at fair value on a non-recurring basis Other liabilities 3 0 1 0 1 0 5,213 0 5,213 Total liabilities measured at fair value 26,435 170,139 15,750 212,324 19,349 211,660 15,143 246,152 1 Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented. 2 Financial assets held for trading exclude precious metals and other physical commodities. 3 Other assets and other liabilities primarily consist of assets held for sale as well as assets and liabilities of a disposal group held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. |
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block] | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.17 31.12.16 CHF billion 31.12.17 31.12.16 31.12.17 31.12.16 low high weighted average 2 low high weighted average 2 unit 1 Financial assets held for trading / Trading portfolio liabilities, Financial assets / liabilities designated at fair value and Financial assets available for sale Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 133 92 0 128 88 points Traded loans, loans designated at fair value, loan commitments and guarantees 1.7 2.0 0.0 0.0 Relative value to market comparable Loan price equivalent 50 102 98 39 103 94 points Discounted expected cash flows Credit spread 23 124 71 554 basis points Market comparable and securitization model Discount margin 0 14 2 0 16 2 % Investment fund units 3 0.7 0.2 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.5 0.4 0.1 0.1 Relative value to market comparable Price Structured (reverse) repurchase agreements 0.2 0.6 0.0 0.3 Discounted expected cash flows Funding spread 15 195 15 195 basis points Issued and over-the-counter debt instruments 4 12.8 10.7 Replacement values Interest rate contracts 0.1 0.3 0.2 0.5 Option model Volatility of interest rates 26 229 26 176 % Credit derivative contracts 0.5 1.3 0.6 1.5 Discounted expected cash flows Credit spreads 6 550 0 791 basis points Bond price equivalent 2 102 3 100 points Equity / index contracts 0.7 0.7 1.9 1.9 Option model Equity dividend yields 0 13 0 15 % Volatility of equity stocks, equity and other indices 0 172 0 150 % Equity-to-FX correlation (39) 70 (45) 82 % Equity-to-equity correlation (50) 97 12 98 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 4 Valuation techniques, significant unobservable inputs and the respective input ranges for issued debt instruments and over-the-counter debt instruments are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. |
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [text block] | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.17 31.12.16 CHF billion 31.12.17 31.12.16 31.12.17 31.12.16 low high weighted average 2 low high weighted average 2 unit 1 Financial assets held for trading / Trading portfolio liabilities, Financial assets / liabilities designated at fair value and Financial assets available for sale Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 133 92 0 128 88 points Traded loans, loans designated at fair value, loan commitments and guarantees 1.7 2.0 0.0 0.0 Relative value to market comparable Loan price equivalent 50 102 98 39 103 94 points Discounted expected cash flows Credit spread 23 124 71 554 basis points Market comparable and securitization model Discount margin 0 14 2 0 16 2 % Investment fund units 3 0.7 0.2 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.5 0.4 0.1 0.1 Relative value to market comparable Price Structured (reverse) repurchase agreements 0.2 0.6 0.0 0.3 Discounted expected cash flows Funding spread 15 195 15 195 basis points Issued and over-the-counter debt instruments 4 12.8 10.7 Replacement values Interest rate contracts 0.1 0.3 0.2 0.5 Option model Volatility of interest rates 26 229 26 176 % Credit derivative contracts 0.5 1.3 0.6 1.5 Discounted expected cash flows Credit spreads 6 550 0 791 basis points Bond price equivalent 2 102 3 100 points Equity / index contracts 0.7 0.7 1.9 1.9 Option model Equity dividend yields 0 13 0 15 % Volatility of equity stocks, equity and other indices 0 172 0 150 % Equity-to-FX correlation (39) 70 (45) 82 % Equity-to-equity correlation (50) 97 12 98 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 4 Valuation techniques, significant unobservable inputs and the respective input ranges for issued debt instruments and over-the-counter debt instruments are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. |
Disclosure Of Deferred Day-One Profit Or Loss Explanatory | Deferred day-1 profit or loss For the year ended CHF million 31.12.17 31.12.16 31.12.15 Balance at the beginning of the year 371 421 480 Profit / (loss) deferred on new transactions 242 254 268 (Profit) / loss recognized in the income statement (274) (290) (321) (Profit) / loss recognized in other comprehensive income (23) Foreign currency translation (10) 9 (6) Balance at the end of the year 329 371 421 |
Disclosure Of Change In Fair Value Of Financial Liability Attributable To Change In Credit Risk Of Liability Explanatory | Own credit adjustments on financial liabilities designated at fair value For the year ended Included in Other comprehensive income Included in Net trading income CHF million 31.12.17 31.12.16 31.12.15 Recognized during the year: Realized gain / (loss) 21 18 Unrealized gain / (loss) (333) (138) 553 Total gain / (loss), before tax (312) (120) As of CHF million 31.12.17 31.12.16 31.12.15 Recognized on the balance sheet as of the end of the year: Unrealized life-to-date gain / (loss) (195) 141 287 |
Disclosure Of Valuation Adjustments On Financial Instruments Explanatory | Valuation adjustments on financial instruments As of Life-to-date gain / (loss), CHF million 31.12.17 31.12.16 Credit valuation adjustments 1 (113) (216) Funding valuation adjustments (49) (106) Debit valuation adjustments 2 5 Other valuation adjustments (715) (713) of which: liquidity (465) (439) of which: model uncertainty (250) (274) 1 Amounts do not include reserves against defaulted counterparties. |
Disclosure Of Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Explanatory | Sensitivity of fair value measurements to changes in unobservable input assumptions 1 31.12.17 31.12.16 CHF million Favorable changes 2 Unfavorable changes 2 Favorable changes 2 Unfavorable changes 2 Traded loans, loans designated at fair value, loan commitments and guarantees 79 (11) 80 (8) Asset-backed securities 19 (15) 23 (29) Equity instruments 79 (53) 85 (66) Interest rate derivative contracts, net 13 (26) 30 (30) Credit derivative contracts, net 64 (99) 128 (174) Foreign exchange derivative contracts, net 12 (6) 18 (9) Equity / index derivative contracts, net 190 (193) 142 (143) Structured (reverse) repurchase agreements 34 (34) 43 (46) Other 13 (13) 12 (12) Total 502 (450) 560 (517) 1 Effective 31 December 2017, the sensitivity of issued and over-the-counter debt instruments is reported with the equivalent derivative or structured financing instrument. Prior-period information has been restated to reflect this change in presentation. 2 Of the total favorable changes, CHF 78 million as of 31 December 2017 (31 December 2016: CHF 75 million) related to financial assets available for sale. Of the total unfavorable changes, CHF 51 million as of 31 December 2017 (31 December 2016: CHF 55 million) related to financial assets available for sale. |
UBS AG | Non-recurring Fair Value Measurement [Member] | |
Notes Fair Value Measurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Financial instruments not measured at fair value 31.12.17 31.12.16 Carrying value Fair value Carrying value Fair value CHF billion Total Total Level 1 Level 2 Level 3 Total Total Level 1 Level 2 Level 3 Assets Cash and balances with central banks 87.8 87.8 87.8 0.0 0.0 107.8 107.8 107.8 0.0 0.0 Due from banks 13.7 13.7 13.1 0.6 0.0 13.1 13.1 12.5 0.7 0.0 Cash collateral on securities borrowed 12.4 12.4 0.0 12.4 0.0 15.1 15.1 0.0 15.1 0.0 Reverse repurchase agreements 77.2 77.2 0.0 74.8 2.5 66.2 66.2 0.0 62.5 3.7 Cash collateral receivables on derivative instruments 23.4 23.4 0.0 23.4 0.0 26.7 26.7 0.0 26.7 0.0 Loans 321.7 323.1 0.0 178.9 144.3 307.0 310.4 0.0 170.0 140.4 Financial assets held to maturity 9.2 9.0 6.3 2.7 0.0 9.3 9.1 6.3 2.8 0.0 Other assets 28.0 28.0 0.0 28.0 0.0 18.5 18.5 0.0 18.5 0.0 Liabilities Due to banks 7.5 7.5 6.5 1.1 0.0 10.6 10.6 8.8 1.9 0.0 Cash collateral on securities lent 1.8 1.8 0.0 1.8 0.0 2.8 2.8 0.0 2.8 0.0 Repurchase agreements 15.3 15.3 0.0 15.3 0.0 6.6 6.6 0.0 6.6 0.0 Cash collateral payables on derivative instruments 30.2 30.2 0.0 30.2 0.0 35.5 35.5 0.0 35.5 0.0 Due to customers 447.1 448.8 0.0 448.8 0.0 450.2 450.6 0.0 450.6 0.0 Debt issued 104.8 107.0 0.0 102.7 4.3 79.0 81.1 0.0 78.5 2.6 Other liabilities 37.1 37.1 0.0 37.1 0.0 39.0 39.0 0.0 39.0 0.0 |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Financial instruments not measured at fair value 31.12.17 31.12.16 Carrying value Fair value Carrying value Fair value CHF billion Total Total Level 1 Level 2 Level 3 Total Total Level 1 Level 2 Level 3 Assets Cash and balances with central banks 87.8 87.8 87.8 0.0 0.0 107.8 107.8 107.8 0.0 0.0 Due from banks 13.7 13.7 13.1 0.6 0.0 13.1 13.1 12.5 0.7 0.0 Cash collateral on securities borrowed 12.4 12.4 0.0 12.4 0.0 15.1 15.1 0.0 15.1 0.0 Reverse repurchase agreements 77.2 77.2 0.0 74.8 2.5 66.2 66.2 0.0 62.5 3.7 Cash collateral receivables on derivative instruments 23.4 23.4 0.0 23.4 0.0 26.7 26.7 0.0 26.7 0.0 Loans 321.7 323.1 0.0 178.9 144.3 307.0 310.4 0.0 170.0 140.4 Financial assets held to maturity 9.2 9.0 6.3 2.7 0.0 9.3 9.1 6.3 2.8 0.0 Other assets 28.0 28.0 0.0 28.0 0.0 18.5 18.5 0.0 18.5 0.0 Liabilities Due to banks 7.5 7.5 6.5 1.1 0.0 10.6 10.6 8.8 1.9 0.0 Cash collateral on securities lent 1.8 1.8 0.0 1.8 0.0 2.8 2.8 0.0 2.8 0.0 Repurchase agreements 15.3 15.3 0.0 15.3 0.0 6.6 6.6 0.0 6.6 0.0 Cash collateral payables on derivative instruments 30.2 30.2 0.0 30.2 0.0 35.5 35.5 0.0 35.5 0.0 Due to customers 447.1 448.8 0.0 448.8 0.0 450.2 450.6 0.0 450.6 0.0 Debt issued 104.8 107.0 0.0 102.7 4.3 79.0 81.1 0.0 78.5 2.6 Other liabilities 37.1 37.1 0.0 37.1 0.0 39.0 39.0 0.0 39.0 0.0 |
UBS AG | Level 3 | |
Notes Fair Value Measurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.17 31.12.16 CHF billion 31.12.17 31.12.16 31.12.17 31.12.16 low high weighted average 2 low high weighted average 2 unit 1 Financial assets held for trading / Trading portfolio liabilities, Financial assets / liabilities designated at fair value and Financial assets available for sale Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 133 92 0 128 88 points Traded loans, loans designated at fair value, loan commitments and guarantees 1.7 2.0 0.0 0.0 Relative value to market comparable Loan price equivalent 50 102 98 39 103 94 points Discounted expected cash flows Credit spread 23 124 71 554 basis points Market comparable and securitization model Discount margin 0 14 2 0 16 2 % Investment fund units 3 0.7 0.2 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.5 0.4 0.1 0.1 Relative value to market comparable Price Structured (reverse) repurchase agreements 0.2 0.6 0.0 0.3 Discounted expected cash flows Funding spread 15 195 15 195 basis points Issued and over-the-counter debt instruments 4 12.8 10.7 Replacement values Interest rate contracts 0.1 0.3 0.2 0.5 Option model Volatility of interest rates 26 229 26 176 % Credit derivative contracts 0.5 1.3 0.6 1.5 Discounted expected cash flows Credit spreads 6 550 0 791 basis points Bond price equivalent 2 102 3 100 points Equity / index contracts 0.7 0.7 1.9 1.9 Option model Equity dividend yields 0 13 0 15 % Volatility of equity stocks, equity and other indices 0 172 0 150 % Equity-to-FX correlation (39) 70 (45) 82 % Equity-to-equity correlation (50) 97 12 98 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 4 Valuation techniques, significant unobservable inputs and the respective input ranges for issued debt instruments and over-the-counter debt instruments are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Valuation techniques and inputs used in the fair value measurement of Level 3 assets and liabilities Fair value Significant unobservable input(s) 1 Range of inputs Assets Liabilities Valuation technique(s) 31.12.17 31.12.16 CHF billion 31.12.17 31.12.16 31.12.17 31.12.16 low high weighted average 2 low high weighted average 2 unit 1 Financial assets held for trading / Trading portfolio liabilities, Financial assets / liabilities designated at fair value and Financial assets available for sale Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 133 92 0 128 88 points Traded loans, loans designated at fair value, loan commitments and guarantees 1.7 2.0 0.0 0.0 Relative value to market comparable Loan price equivalent 50 102 98 39 103 94 points Discounted expected cash flows Credit spread 23 124 71 554 basis points Market comparable and securitization model Discount margin 0 14 2 0 16 2 % Investment fund units 3 0.7 0.2 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.5 0.4 0.1 0.1 Relative value to market comparable Price Structured (reverse) repurchase agreements 0.2 0.6 0.0 0.3 Discounted expected cash flows Funding spread 15 195 15 195 basis points Issued and over-the-counter debt instruments 4 12.8 10.7 Replacement values Interest rate contracts 0.1 0.3 0.2 0.5 Option model Volatility of interest rates 26 229 26 176 % Credit derivative contracts 0.5 1.3 0.6 1.5 Discounted expected cash flows Credit spreads 6 550 0 791 basis points Bond price equivalent 2 102 3 100 points Equity / index contracts 0.7 0.7 1.9 1.9 Option model Equity dividend yields 0 13 0 15 % Volatility of equity stocks, equity and other indices 0 172 0 150 % Equity-to-FX correlation (39) 70 (45) 82 % Equity-to-equity correlation (50) 97 12 98 % 1 The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). 2 Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. 3 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 4 Valuation techniques, significant unobservable inputs and the respective input ranges for issued debt instruments and over-the-counter debt instruments are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. |
Disclosure Of Fair Value Of Financial Instruments Explanatory | Movements of Level 3 instruments + Total gains / (losses) included in comprehensive income + Total gains / (losses) included in comprehensive income CHF billion Balance as of 31 December 2015 Net interest income, net trading income and other income of which: related to Level 3 instruments held at the end of the reporting period Purchases Sales Issuances Settlements Transfers into Level 3 Transfers out of Level 3 Foreign currency translation + Balance as of 31 December 2016 Net interest income, net trading income and other income of which: related to Level 3 instruments held at the end of the reporting period Purchases Sales Issuances Settlements Transfers into Level 3 Transfers out of Level 3 Foreign currency translation Balance as of 31 December 2017 1 + Financial assets held for trading 2.1 0.1 0.0 0.9 (6.8) 4.1 0.0 1.7 (0.3) (0.1) + 1.7 (0.1) 0.0 0.7 (3.8) 2.7 0.0 0.9 (0.2) 0.0 2.0 of which: + Corporate and municipal bonds 0.7 0.2 0.1 0.6 (0.8) 0.0 0.0 0.1 (0.1) (0.1) + 0.6 0.1 0.1 0.4 (0.7) 0.0 0.0 0.1 0.0 0.0 0.6 Loans 0.8 (0.1) (0.1) 0.1 (5.2) 4.1 0.0 1.1 (0.2) 0.0 + 0.7 0.0 (0.1) 0.1 (2.8) 2.7 0.0 0.0 (0.1) 0.0 0.5 Other 0.6 0.0 0.0 0.2 (0.8) 0.0 0.0 0.5 0.0 0.0 + 0.4 (0.1) 0.0 0.2 (0.3) 0.0 0.0 0.8 0.0 0.0 0.9 + Financial assets designated at fair value 3.3 (0.4) (0.1) 0.1 0.0 0.7 (1.9) 0.5 (0.1) 0.0 + 2.1 0.2 0.2 0.0 0.0 0.4 (1.2) 0.1 (0.1) 0.0 1.4 of which: + Loans (including structured loans) 1.7 (0.4) (0.1) 0.0 0.0 0.6 (1.0) 0.4 (0.1) 0.0 + 1.2 0.2 0.2 0.0 0.0 0.1 (0.6) 0.0 (0.1) 0.0 0.8 Structured reverse repurchase and securities borrowing agreements 1.5 0.0 0.0 0.0 0.0 0.0 (0.9) 0.0 0.0 0.0 + 0.6 0.0 0.0 0.0 0.0 0.1 (0.6) 0.0 0.0 0.0 0.2 Other 0.1 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 + 0.2 (0.1) (0.1) 0.0 0.0 0.2 0.0 0.1 0.0 0.0 0.5 + Financial assets available for sale 0.7 0.0 0.0 0.1 (0.1) 0.0 0.0 0.0 (0.1) 0.0 + 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.5 + Positive replacement values 2.9 (0.4) (0.5) 0.0 0.0 1.0 (1.9) 1.3 (0.4) 0.0 + 2.5 (0.3) (0.4) 0.0 0.0 0.9 (1.2) 0.4 (0.8) 0.0 1.5 of which: + Credit derivative contracts 1.3 (0.2) (0.1) 0.0 0.0 0.6 (0.7) 0.4 (0.1) 0.0 + 1.3 (0.2) (0.2) 0.0 0.0 0.0 (0.3) 0.0 (0.4) 0.0 0.5 Equity / index contracts 1.0 (0.1) 0.0 0.0 0.0 0.4 (0.6) 0.2 (0.2) 0.0 + 0.7 (0.1) (0.1) 0.0 0.0 0.9 (0.7) 0.3 (0.4) 0.0 0.7 Other 0.6 (0.1) (0.3) 0.0 0.0 0.1 (0.6) 0.7 (0.1) 0.0 + 0.5 0.0 (0.1) 0.0 0.0 0.0 (0.2) 0.1 (0.1) 0.0 0.3 + Negative replacement values 3.3 0.6 0.5 0.0 0.0 1.5 (2.1) 1.2 (0.6) 0.0 + 4.0 0.2 0.1 0.0 0.0 0.7 (1.4) 0.5 (1.3) 0.1 2.8 of which: + Credit derivative contracts 1.3 0.5 0.6 0.0 0.0 0.2 (0.7) 0.3 (0.1) 0.0 + 1.5 0.0 (0.2) 0.0 0.0 0.1 (0.4) 0.2 (0.8) 0.0 0.6 Equity / index contracts 1.4 0.3 0.1 0.0 0.0 1.0 (0.8) 0.2 (0.3) 0.0 + 1.9 0.3 0.2 0.0 0.0 0.6 (0.6) 0.2 (0.5) 0.0 1.9 Other 0.6 (0.2) (0.2) 0.0 0.0 0.3 (0.6) 0.7 (0.2) 0.0 + 0.6 0.0 0.0 0.0 0.0 0.0 (0.4) 0.1 (0.1) 0.0 0.3 + Financial liabilities designated at fair value 10.7 1.0 0.6 0.0 0.0 5.0 (3.5) 0.9 (2.9) (0.1) + 11.0 1.4 0.9 0.0 0.0 6.7 (5.7) 1.3 (1.8) (0.1) 12.8 of which: + Issued debt instruments 9.3 0.9 0.6 0.0 0.0 4.1 (2.5) 0.8 (2.9) (0.1) + 9.7 1.4 0.9 0.0 0.0 5.2 (4.9) 1.2 (1.6) (0.1) 10.9 Over-the-counter debt instruments 0.8 0.1 0.0 0.0 0.0 0.8 (0.6) 0.1 0.0 0.0 + 1.1 0.0 0.0 0.0 0.0 1.5 (0.7) 0.1 0.0 0.0 1.9 Structured repurchase agreements 0.6 0.0 0.0 0.0 0.0 0.1 (0.4) 0.0 0.0 0.0 + 0.3 0.0 0.0 0.0 0.0 0.0 (0.1) 0.0 (0.2) 0.0 0.0 1 Total Level 3 assets as of 31 December 2017 were CHF 5.5 billion (31 December 2016: CHF 6.9 billion). Total Level 3 liabilities as of 31 December 2017 were CHF 15.7 billion (31 December 2016: CHF 15.1 billion). + |
Restricted financial assets (Ta
Restricted financial assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Disclosure Restricted Financial Assets [Line Items] | |
Disclosure of restricted financial assets [text block] | Restricted financial assets CHF million 31.12.17 31.12.16 Financial assets pledged as collateral Trading portfolio assets 46,219 36,549 of which: assets pledged as collateral that may be sold or repledged by counterparties 35,363 30,260 Loans 1 17,631 19,887 Financial assets designated at fair value 170 776 of which: assets pledged as collateral that may be sold or repledged by counterparties 170 636 Total financial assets pledged as collateral 2 64,020 57,213 Other restricted financial assets Due from banks 3,280 2,625 Reverse repurchase agreements 0 658 Trading portfolio assets 12,273 12,129 Cash collateral receivables on derivative instruments 3,822 4,329 Loans 1,256 958 Financial assets designated at fair value 2,602 328 Financial assets available for sale 246 247 Other 95 5,195 Total other restricted financial assets 23,573 26,470 Total financial assets pledged and other restricted financial assets 87,593 83,683 1 All related to mortgage loans that serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances. Of these pledged mortgage loans, approximately CHF 2.1 billion for 31 December 2017 (31 December 2016: approximately CHF 1.9 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements. 2 Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2017: CHF 2.5 billion; 31 December 2016: CHF 4.7 billion). |
UBS AG | |
Notes Disclosure Restricted Financial Assets [Line Items] | |
Disclosure of restricted financial assets [text block] | Restricted financial assets CHF million 31.12.17 31.12.16 Financial assets pledged as collateral Trading portfolio assets 46,257 36,549 of which: assets pledged as collateral that may be sold or repledged by counterparties 35,363 30,260 Loans 1 17,631 19,887 Financial assets designated at fair value 170 776 of which: assets pledged as collateral that may be sold or repledged by counterparties 170 636 Total financial assets pledged as collateral 2 64,059 57,213 Other restricted financial assets Due from banks 3,280 2,625 Reverse repurchase agreements 0 658 Trading portfolio assets 12,273 12,129 Cash collateral receivables on derivative instruments 3,822 4,329 Loans 1,256 958 Financial assets designated at fair value 2,225 0 Financial assets available for sale 246 247 Other 95 5,195 Total other restricted financial assets 23,196 26,141 Total financial assets pledged and other restricted financial assets 87,255 83,354 1 All related to mortgage loans that serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances. Of these pledged mortgage loans, approximately CHF 2.1 billion for 31 December 2017 (31 December 2016: approximately CHF 1.9 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements. 2 Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2017: CHF 2.5 billion; 31 December 2016: CHF 4.7 billion). |
Transferred financial assets 91
Transferred financial assets that are not derecognized in their entirety (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Transferred Financial Assets Not Derecognized [Line Items] | |
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition Explanatory | Transferred financial assets subject to continued recognition in full CHF million 31.12.17 31.12.16 Carrying value of transferred assets Carrying value of associated liabilities recognized on-balance sheet Carrying value of transferred assets Carrying value of associated liabilities recognized on-balance sheet Trading portfolio assets that may be sold or repledged by counterparties 35,363 12,942 30,260 11,260 relating to securities lending and repurchase agreements in exchange for cash received 13,145 12,942 11,410 11,260 relating to securities lending agreements in exchange for securities received 21,137 0 17,341 0 relating to other financial asset transfers 1,081 0 1,509 0 Financial assets designated at fair value that may be sold or repledged by counterparties 170 169 636 630 Total financial assets transferred 35,533 13,111 30,896 11,890 |
UBS AG | |
Notes Transferred Financial Assets Not Derecognized [Line Items] | |
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition Explanatory | Transferred financial assets subject to continued recognition in full CHF million 31.12.17 31.12.16 Carrying value of transferred assets Carrying value of associated liabilities recognized on-balance sheet Carrying value of transferred assets Carrying value of associated liabilities recognized on-balance sheet Trading portfolio assets that may be sold or repledged by counterparties 35,363 12,942 30,260 11,260 relating to securities lending and repurchase agreements in exchange for cash received 13,145 12,942 11,410 11,260 relating to securities lending agreements in exchange for securities received 21,137 0 17,341 0 relating to other financial asset transfers 1,081 0 1,509 0 Financial assets designated at fair value that may be sold or repledged by counterparties 170 169 636 630 Total financial assets transferred 35,533 13,111 30,896 11,890 |
Off-balance sheet assets rece92
Off-balance sheet assets received (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Off-balance Sheet Assets Received [Line Items] | |
Tabular disclosure of off-balance sheet assets received [text block] | Off-balance sheet assets received CHF million 31.12.17 31.12.16 Fair value of assets received that can be sold or repledged 469,132 429,327 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative transactions and other transactions 1 462,460 423,524 received in unsecured borrowings 6,672 5,803 Thereof sold or repledged 2 337,514 316,323 in connection with financing activities 293,295 277,341 to satisfy commitments under short sale transactions 30,463 22,824 in connection with derivative and other transactions 1 13,756 16,158 1 Includes securities received as initial margin from its clients that UBS is required to remit to CCPs, brokers and deposit banks through its exchange-traded derivative (ETD) clearing and execution services. 2 Does not include off-balance sheet securities (31 December 2017: CHF 28.1 billion; 31 December 2016: CHF 30.9 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. |
UBS AG | |
Notes Off-balance Sheet Assets Received [Line Items] | |
Tabular disclosure of off-balance sheet assets received [text block] | Off-balance sheet assets received CHF million 31.12.17 31.12.16 Fair value of assets received that can be sold or repledged 469,132 429,327 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative transactions and other transactions 1 462,460 423,524 received in unsecured borrowings 6,672 5,803 Thereof sold or repledged 2 337,514 316,324 in connection with financing activities 293,295 277,341 to satisfy commitments under short sale transactions 30,463 22,825 in connection with derivative and other transactions 1 13,756 16,158 1 Includes securities received as initial margin from its clients that UBS AG is required to remit to CCPs, brokers and deposit banks through its exchange-traded derivative (ETD) clearing and execution services. 2 Does not include off-balance sheet securities (31 December 2017: CHF 28.1 billion; 31 December 2016: CHF 30.9 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. |
Offsetting financial assets a93
Offsetting financial assets and financial liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Disclosure Of Offsetting Of Financial Assets Explanatory | Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements Assets subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 3 Assets not subject to netting arrangements 4 Total assets As of 31.12.17, CHF billion Gross assets before netting Netting with gross liabilities 2 Net assets recognized on the balance sheet Financial liabilities Collateral received Assets after consideration of netting potential Assets recognized on the balance sheet Total assets after consideration of netting potential Total assets recognized on the balance sheet Cash collateral on securities borrowed 3.7 0.0 3.7 (0.6) (3.1) 0.0 8.7 8.7 12.4 Reverse repurchase agreements 140.5 (76.8) 63.7 (6.9) (56.8) 0.0 13.5 13.5 77.2 Positive replacement values 114.3 (2.1) 112.2 (83.5) (20.7) 8.0 6.0 14.0 118.2 Cash collateral receivables on derivative instruments 1 21.6 (1.0) 20.6 (11.7) (0.7) 8.1 2.9 11.0 23.4 Financial assets designated at fair value 0.4 0.0 0.4 0.0 (0.2) 0.2 58.5 58.7 58.9 Total assets 280.5 (79.9) 200.6 (102.7) (81.6) 16.4 89.6 106.0 290.2 As of 31.12.16, CHF billion Cash collateral on securities borrowed 4.2 0.0 4.2 (0.9) (3.3) 0.0 10.9 10.9 15.1 Reverse repurchase agreements 128.4 (71.5) 56.9 (2.1) (54.8) 0.0 9.3 9.3 66.2 Positive replacement values 152.3 (2.5) 149.8 (113.1) (26.7) 10.0 8.6 18.6 158.4 Cash collateral receivables on derivative instruments 1 37.2 (15.1) 22.1 (14.2) (1.0) 7.0 4.5 11.5 26.7 Financial assets designated at fair value 1.7 0.0 1.7 0.0 (0.6) 1.1 63.7 64.7 65.4 Total assets 323.8 (89.1) 234.7 (130.3) (86.3) 18.1 97.1 115.2 331.8 1 The net amount of Cash collateral receivables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and ETD that are economically settled on a daily basis. Effective 3 January 2017, interest rate swaps and credit derivatives transacted with the Chicago Mercantile Exchange (CME) were legally converted from the previous collateral model to a settlement model resulting in a derecognition of the associated assets and liabilities. Previously, UBS applied IAS 32 netting principles to offset the fair value of CME interest rate swaps with the associated variation margin. Gross cash collateral receivables and payables on derivative instruments and corresponding IAS 32 netting, decreased by approximately CHF 11.4 billion as of 31 December 2017, with no change to net cash collateral receivables and payables on derivative instruments recognized and presented on the balance sheet. 2 The logic of the table results in amounts presented in the “Netting with gross liabilities” column corresponding directly to the amounts presented in the “Netting with gross assets” column in the liabilities table presented on the following page. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial assets presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 4 Includes assets not subject to enforceable netting arrangements and other out-of-scope items. |
Disclosure Of Offsetting Of Financial Liabilities Explanatory | Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements Liabilities subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 3 Liabilities not subject to netting arrangements 4 Total liabilities As of 31.12.17, CHF billion Gross liabilities before netting Netting with gross assets 2 Net liabilities recognized on the balance sheet Financial assets Collateral pledged Liabilities after consideration of netting potential Liabilities recognized on the balance sheet Total liabilities after consideration of netting potential Total liabilities recognized on the balance sheet Cash collateral on securities lent 1.7 0.0 1.7 (0.6) (1.2) 0.0 0.1 0.1 1.8 Repurchase agreements 88.4 (76.8) 11.6 (6.9) (4.7) 0.0 3.6 3.6 15.3 Negative replacement values 111.4 (2.1) 109.4 (83.5) (15.0) 10.9 6.8 17.7 116.1 Cash collateral payables on derivative instruments 1 29.5 (1.0) 28.4 (16.3) (1.2) 11.0 1.8 12.8 30.2 Financial liabilities designated at fair value 1.9 0.0 1.9 0.0 (0.1) 1.8 52.3 54.1 54.2 Total liabilities 233.0 (79.9) 153.0 (107.3) (22.1) 23.7 64.6 88.3 217.6 As of 31.12.16, CHF billion Cash collateral on securities lent 2.6 0.0 2.6 (0.9) (1.7) 0.0 0.2 0.2 2.8 Repurchase agreements 76.7 (71.5) 5.2 (2.1) (3.1) 0.0 1.4 1.4 6.6 Negative replacement values 146.3 (2.5) 143.9 (113.1) (16.6) 14.2 10.0 24.2 153.8 Cash collateral payables on derivative instruments 1 48.5 (15.1) 33.4 (20.8) (1.4) 11.2 2.1 13.3 35.5 Financial liabilities designated at fair value 2.8 0.0 2.8 0.0 (0.2) 2.6 52.2 54.8 55.0 Total liabilities 276.9 (89.1) 187.9 (137.0) (22.9) 28.0 65.9 93.9 253.7 1 The net amount of Cash collateral payables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and ETD that are economically settled on a daily basis. Effective 3 January 2017, interest rate swaps and credit derivatives transacted with the Chicago Mercantile Exchange (CME) were legally converted from the previous collateral model to a settlement model resulting in a derecognition of the associated assets and liabilities. Previously, UBS applied IAS 32 netting principles to offset the fair value of CME interest rate swaps with the associated variation margin. Gross cash collateral receivables and payables on derivative instruments and corresponding IAS 32 netting, decreased by approximately CHF 11.4 billion as of 31 December 2017, with no change to net cash collateral receivables and payables on derivative instruments recognized and presented on the balance sheet. 2 The logic of the table results in amounts presented in the “Netting with gross assets” column corresponding directly to the amounts presented in the “Netting with gross liabilities” column in the assets table presented on the previous page. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial liabilities presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 4 Includes liabilities not subject to enforceable netting arrangements and other out-of-scope items. |
UBS AG | |
Disclosure Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Disclosure Of Offsetting Of Financial Assets Explanatory | Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements Assets subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 3 Assets not subject to netting arrangements 4 Total assets As of 31.12.17, CHF billion Gross assets before netting Netting with gross liabilities 2 Net assets recognized on the balance sheet Financial liabilities Collateral received Assets after consideration of netting potential Assets recognized on the balance sheet Total assets after consideration of netting potential Total assets recognized on the balance sheet Cash collateral on securities borrowed 3.7 0.0 3.7 (0.6) (3.1) 0.0 8.7 8.7 12.4 Reverse repurchase agreements 140.5 (76.8) 63.7 (6.9) (56.8) 0.0 13.5 13.5 77.2 Positive replacement values 114.3 (2.1) 112.2 (83.5) (20.7) 8.0 6.0 14.0 118.2 Cash collateral receivables on derivative instruments 1 21.6 (1.0) 20.6 (11.7) (0.7) 8.1 2.9 11.0 23.4 Financial assets designated at fair value 0.4 0.0 0.4 0.0 (0.2) 0.2 58.1 58.4 58.6 Total assets 280.5 (79.9) 200.6 (102.7) (81.6) 16.4 89.2 105.6 289.9 As of 31.12.16, CHF billion Cash collateral on securities borrowed 4.2 0.0 4.2 (0.9) (3.3) 0.0 10.9 10.9 15.1 Reverse repurchase agreements 128.4 (71.5) 56.9 (2.1) (54.8) 0.0 9.3 9.3 66.2 Positive replacement values 152.3 (2.5) 149.8 (113.1) (26.7) 10.0 8.6 18.6 158.4 Cash collateral receivables on derivative instruments 1 37.2 (15.1) 22.1 (14.2) (1.0) 7.0 4.5 11.5 26.7 Financial assets designated at fair value 1.7 0.0 1.7 0.0 (0.6) 1.1 63.3 64.4 65.0 Total assets 323.8 (89.1) 234.7 (130.3) (86.3) 18.1 96.7 114.8 331.5 1 The net amount of Cash collateral receivables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and ETD that are economically settled on a daily basis. Effective 3 January 2017, interest rate swaps and credit derivatives transacted with the Chicago Mercantile Exchange (CME) were legally converted from the previous collateral model to a settlement model resulting in a derecognition of the associated assets and liabilities. Previously, UBS applied IAS 32 netting principles to offset the fair value of CME interest rate swaps with the associated variation margin. Gross cash collateral receivables and payables on derivative instruments and corresponding IAS 32 netting, decreased by approximately CHF 11.4 billion as of 31 December 2017, with no change to net cash collateral receivables and payables on derivative instruments recognized and presented on the balance sheet. 2 The logic of the table results in amounts presented in the “Netting with gross liabilities” column corresponding directly to the amounts presented in the “Netting with gross assets” column in the liabilities table presented on the following page. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial assets presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 4 Includes assets not subject to enforceable netting arrangements and other out-of-scope items. |
Disclosure Of Offsetting Of Financial Liabilities Explanatory | Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements Liabilities subject to netting arrangements Netting recognized on the balance sheet Netting potential not recognized on the balance sheet 3 Liabilities not subject to netting arrangements 4 Total liabilities As of 31.12.17, CHF billion Gross liabilities before netting Netting with gross assets 2 Net liabilities recognized on the balance sheet Financial assets Collateral pledged Liabilities after consideration of netting potential Liabilities recognized on the balance sheet Total liabilities after consideration of netting potential Total liabilities recognized on the balance sheet Cash collateral on securities lent 1.7 0.0 1.7 (0.6) (1.2) 0.0 0.1 0.1 1.8 Repurchase agreements 88.4 (76.8) 11.6 (6.9) (4.7) 0.0 3.6 3.6 15.3 Negative replacement values 111.4 (2.1) 109.4 (83.5) (15.0) 10.9 6.8 17.7 116.1 Cash collateral payables on derivative instruments 1 29.5 (1.0) 28.4 (16.3) (1.2) 11.0 1.8 12.8 30.2 Financial liabilities designated at fair value 1.9 0.0 1.9 0.0 (0.1) 1.8 52.3 54.1 54.2 Total liabilities 233.0 (79.9) 153.0 (107.3) (22.1) 23.7 64.6 88.3 217.6 As of 31.12.16, CHF billion Cash collateral on securities lent 2.6 0.0 2.6 (0.9) (1.7) 0.0 0.2 0.2 2.8 Repurchase agreements 76.7 (71.5) 5.2 (2.1) (3.1) 0.0 1.4 1.4 6.6 Negative replacement values 146.3 (2.5) 143.9 (113.1) (16.6) 14.2 10.0 24.2 153.8 Cash collateral payables on derivative instruments 1 48.5 (15.1) 33.4 (20.8) (1.4) 11.2 2.1 13.3 35.5 Financial liabilities designated at fair value 2.8 0.0 2.8 0.0 (0.2) 2.6 52.2 54.8 55.0 Total liabilities 276.9 (89.1) 187.9 (137.0) (22.9) 28.0 65.9 93.9 253.7 1 The net amount of Cash collateral payables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and ETD that are economically settled on a daily basis. Effective 3 January 2017, interest rate swaps and credit derivatives transacted with the Chicago Mercantile Exchange (CME) were legally converted from the previous collateral model to a settlement model resulting in a derecognition of the associated assets and liabilities. Previously, UBS applied IAS 32 netting principles to offset the fair value of CME interest rate swaps with the associated variation margin. Gross cash collateral receivables and payables on derivative instruments and corresponding IAS 32 netting, decreased by approximately CHF 11.4 billion as of 31 December 2017, with no change to net cash collateral receivables and payables on derivative instruments recognized and presented on the balance sheet. 2 The logic of the table results in amounts presented in the “Netting with gross assets” column corresponding directly to the amounts presented in the “Netting with gross liabilities” column in the assets table presented on the previous page. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial liabilities presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. 4 Includes liabilities not subject to enforceable netting arrangements and other out-of-scope items. |
Measurement categories, credi94
Measurement categories, credit risk and maturity analysis of financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Measurement Categories Credit Risk And Maturity Analysis Of Financial Instruments [Line Items] | |
Disclosure Of Financial Assets Explanatory | Measurement categories of financial assets and financial liabilities CHF million 31.12.17 31.12.16 Financial assets 1 Held for trading Trading portfolio assets 126,144 92,025 Due to customers 2 7 12 Debt issued 2 10 38 Positive replacement values 118,227 158,411 Total 244,388 250,486 Fair value through profit or loss Financial assets designated at fair value 58,933 65,353 Other assets 122 131 Total 59,055 65,483 Financial assets at amortized cost Cash and balances with central banks 87,775 107,767 Due from banks 13,739 13,156 Cash collateral on securities borrowed 12,393 15,111 Reverse repurchase agreements 77,240 66,246 Cash collateral receivables on derivative instruments 23,434 26,664 Loans 3 319,568 306,325 Financial assets held to maturity 9,166 9,289 Other assets 27,913 18,504 Total 571,226 563,063 Available for sale Financial assets available for sale 8,665 15,676 Total financial assets 883,335 894,709 |
Disclosure Of Financial Liabilities Explanatory | Financial liabilities Held for trading Trading portfolio liabilities 30,463 22,824 Negative replacement values 116,133 153,810 Total 146,597 176,634 Fair value through profit or loss Financial liabilities designated at fair value 54,202 55,017 Amounts due under unit-linked investment contracts 11,523 9,286 Other liabilities 122 131 Total 65,847 64,434 Financial liabilities at amortized cost Due to banks 7,533 10,645 Cash collateral on securities lent 1,789 2,818 Repurchase agreements 15,255 6,612 Cash collateral payables on derivative instruments 30,247 35,472 Due to customers 409,006 423,684 Debt issued 139,561 103,687 Other liabilities 36,268 38,349 Total 639,659 621,267 Total financial liabilities 852,103 862,335 1 As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. 2 Represents the embedded derivative component of structured financial instruments for which the fair value option has not been applied and that is presented within Due to customers and Debt issued on the balance sheet. 3 Includes finance lease receivables of CHF 1.1 billion as of 31 December 2017 (31 December 2016: CHF 1.0 billion). Refer to Notes 10 and 31 for more information. |
Disclosure Of Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.17 Collateral Credit enhancements CHF billion Maximum exposure to credit risk Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 87.1 87.1 Due from banks 2 13.7 0.1 13.6 Cash collateral on securities borrowed 12.4 12.2 0.2 Reverse repurchase agreements 77.2 72.8 4.2 0.2 Cash collateral receivables on derivative instruments 3,4 23.4 12.5 11.0 Loans 5 319.6 16.1 111.4 160.1 15.9 0.0 1.3 14.8 Financial assets held to maturity 9.2 9.2 Other assets 25.8 19.5 6.3 Total financial assets measured at amortized cost 568.4 16.1 216.0 160.1 20.1 12.5 0.0 1.3 142.3 Financial assets measured at fair value on the balance sheet Positive replacement values 4 118.2 4.0 100.2 14.0 Trading portfolio assets – debt instruments 6,7 25.6 25.6 Financial assets designated at fair value – debt instruments 8 58.4 9.8 48.5 Financial assets available for sale – debt instruments 8 7.9 7.9 Total financial assets measured at fair value 210.1 0.0 13.8 0.0 0.0 100.2 0.0 0.0 96.1 Total maximum exposure to credit risk reflected on the balance sheet 778.5 16.1 229.8 160.1 20.1 112.7 0.0 1.3 238.4 Guarantees 9 18.8 1.0 2.1 0.2 1.2 3.0 11.3 Loan commitments 9 39.1 2.8 1.1 9.5 1.0 1.4 23.3 Forward starting transactions, reverse repurchase and securities borrowing agreements 12.7 12.4 0.3 Total maximum exposure to credit risk not reflected on the balance sheet 70.6 1.0 17.4 1.2 10.7 0.0 1.0 4.4 34.8 Total 849.1 17.2 247.1 161.3 30.8 112.7 1.1 5.8 273.2 Maximum exposure to credit risk (continued) 31.12.16 Maximum exposure to credit risk Collateral Credit enhancements CHF billion Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 107.1 107.1 Due from banks 2 13.2 13.2 Cash collateral on securities borrowed 15.1 14.8 0.3 Reverse repurchase agreements 66.2 62.5 3.2 0.5 Cash collateral receivables on derivative instruments 3,4 26.7 15.1 11.5 Loans 5 306.3 17.4 99.6 158.2 14.6 0.1 1.8 14.6 Financial assets held to maturity 9.3 9.3 Other assets 18.6 10.0 8.7 Total financial assets measured at amortized cost 562.5 17.4 186.9 158.2 17.7 15.1 0.1 1.8 165.2 Financial assets measured at fair value on the balance sheet Positive replacement values 4 158.4 5.3 134.5 18.6 Trading portfolio assets – debt instruments 6,7 21.8 21.8 Financial assets designated at fair value – debt instruments 8 64.8 2.6 0.6 61.6 Financial assets available for sale – debt instruments 8 14.9 14.9 Total financial assets measured at fair value 259.9 0.0 7.9 0.0 0.0 134.5 0.6 0.0 116.9 Total maximum exposure to credit risk reflected on the balance sheet 822.4 17.4 194.9 158.2 17.7 149.6 0.7 1.8 282.1 Guarantees 9 16.7 1.4 2.0 0.2 1.2 0.1 3.0 8.8 Loan commitments 9 54.4 0.1 3.9 1.0 9.5 4.8 2.0 33.1 Forward starting transactions, reverse repurchase and securities borrowing agreements 10.2 10.2 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 81.3 1.5 16.1 1.1 10.6 0.0 4.9 5.1 41.9 Total 903.7 18.9 210.9 159.4 28.4 149.6 5.7 6.8 324.0 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 Due from banks includes amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. 3 Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. 4 The amount shown in the netting column represents the netting potential not recognized on the balance sheet. Refer to Note 24 for more information. 5 Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. In 2017, we further aligned our collateral allocation processes within Wealth Management Americas to prioritize collateral mainly according to its liquidity profile. This change resulted in increases in loans secured by cash and decreases in loans secured by securities of CHF 4.5 billion. 6 These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. 7 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 8 Does not include investment fund units. Financial assets designated at fair value collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 9 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to the “Treasury management” section of this report for more information. |
Disclosure Of Internal Credit Exposures Explanatory | Financial assets subject to credit risk by rating category CHF billion 31.12.17 Rating category 1 0–1 2–3 4–5 6–8 9–13 Defaulted Total Balances with central banks 86.6 0.5 87.1 Due from banks 0.6 10.6 1.4 0.9 0.3 13.7 Cash collateral on securities borrowed and reverse repurchase agreements 24.3 36.4 16.8 10.4 1.8 89.6 Positive replacement values 17.0 75.3 19.4 6.2 0.3 118.2 Cash collateral receivables on derivative instruments 6.5 9.7 5.6 1.6 0.1 23.4 Trading portfolio assets – debt instruments 2 10.3 7.3 3.0 2.0 3.0 25.6 Loans 3.2 161.8 65.4 70.0 17.6 1.5 319.6 Financial assets designated at fair value – debt instruments 3 33.8 14.2 1.5 0.8 8.0 58.4 Financial assets available for sale – debt instruments 3 6.8 1.0 0.1 7.9 Financial assets held to maturity 8.5 0.7 9.2 Other assets 0.1 0.4 8.3 15.9 0.8 0.3 25.8 Guarantees, commitments and forward starting transactions Guarantees 2.0 9.1 4.1 2.7 0.8 0.2 18.8 Loan commitments 1.9 15.4 9.4 5.8 6.5 39.1 Forward starting transactions, reverse repurchase and securities borrowing agreements 12.7 12.7 Total 201.7 354.9 134.8 116.5 39.1 2.0 849.1 31.12.16 Rating category 1 0–1 2–3 4–5 6–8 9–13 Defaulted Total Balances with central banks 106.2 0.9 107.1 Due from banks 0.6 9.7 2.0 0.5 0.3 13.2 Cash collateral on securities borrowed and reverse repurchase agreements 29.2 24.5 20.1 6.9 0.7 81.4 Positive replacement values 19.6 96.9 34.2 7.4 0.4 158.4 Cash collateral receivables on derivative instruments 6.4 12.2 6.4 1.6 0.2 26.7 Trading portfolio assets – debt instruments 2 9.0 6.8 2.9 1.7 1.3 21.8 Loans 31.7 127.2 63.1 63.6 19.1 1.6 306.3 Financial assets designated at fair value – debt instruments 3 48.4 12.6 1.0 1.6 1.3 64.8 Financial assets available for sale – debt instruments 3 12.7 1.8 0.2 0.1 14.9 Financial assets held to maturity 8.4 0.9 9.3 Other assets 0.1 2.0 6.2 7.7 2.2 0.3 18.6 Guarantees, commitments and forward starting transactions Guarantees 2.0 6.4 3.7 3.6 0.7 0.3 16.7 Loan commitments 2.4 19.5 17.1 8.7 6.5 0.1 54.4 Forward starting transactions, reverse repurchase and securities borrowing agreements 0.6 9.4 0.3 10.2 Total 277.4 330.9 157.1 103.5 32.7 2.2 903.7 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. 2 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 3 Does not include investment fund units. |
Disclosure of maturity analysis for financial liabilities [text block] | Maturity analysis of financial liabilities 1 CHF billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Financial liabilities recognized on balance sheet 2 Due to banks 6.1 0.4 1.0 0.1 0.0 7.5 Cash collateral on securities lent 1.7 0.2 1.9 Repurchase agreements 11.9 2.8 0.6 0.0 0.0 15.3 Trading portfolio liabilities 3,4 30.5 30.5 Negative replacement values 3 116.1 116.1 Cash collateral payables on derivative instruments 30.2 30.2 Due to customers 393.0 10.2 5.2 0.7 0.0 409.1 Financial liabilities designated at fair value 5 18.4 10.3 11.6 8.8 7.1 56.3 Debt issued 6 4.1 15.0 45.2 50.8 38.1 153.2 Other liabilities 46.7 46.7 Total 31.12.17 658.7 39.0 63.5 60.4 45.2 866.8 Total 31.12.16 704.3 39.2 40.4 46.6 46.0 876.6 Guarantees, commitments and forward starting transactions 7 Loan commitments 38.2 0.2 0.2 0.1 38.7 Guarantees 18.8 0.0 18.9 Forward starting transactions Reverse repurchase agreements 12.7 12.7 Securities borrowing agreements 0.0 0.0 Total 31.12.17 69.7 0.2 0.2 0.1 0.0 70.2 Total 31.12.16 81.0 0.2 0.2 0.0 0.0 81.4 1 Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. 2 Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. 3 Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. 4 Contractual maturities of trading portfolio liabilities are: CHF 29.5 billion due within one month (2016: CHF 21.8 billion), CHF 0.8 billion due between one month and one year (2016: CHF 1.0 billion) and CHF 0.1 billion due between 1 and 5 years (2016: CHF 0.1 billion). 5 Future interest payments on variable rate liabilities are determined by reference to the applicable interest rate prevailing as of the reporting date. Future principal payments that are variable are determined by reference to the conditions existing at the reporting date. 6 The time bucket Due after 5 years includes perpetual loss-absorbing additional tier 1 capital instruments. 7 Comprises the maximum irrevocable amount of guarantees, commitments and forward starting transactions. |
UBS AG | |
Disclosure Measurement Categories Credit Risk And Maturity Analysis Of Financial Instruments [Line Items] | |
Disclosure Of Financial Assets Explanatory | Measurement categories of financial assets and financial liabilities CHF million 31.12.17 31.12.16 Financial assets 1 Held for trading Trading portfolio assets 126,244 92,112 Due to customers 2 7 12 Debt issued 2 10 38 Positive replacement values 118,229 158,411 Total 244,489 250,572 Fair value through profit or loss Financial assets designated at fair value 58,556 65,024 Other assets 122 131 Total 58,678 65,155 Financial assets at amortized cost Cash and balances with central banks 87,775 107,767 Due from banks 13,693 13,125 Cash collateral on securities borrowed 12,393 15,111 Reverse repurchase agreements 77,240 66,246 Cash collateral receivables on derivative instruments 23,434 26,664 Loans 3 321,718 307,004 Financial assets held to maturity 9,166 9,289 Other assets 27,986 18,519 Total 573,405 563,727 Available for sale Financial assets available for sale 8,665 15,676 Total financial assets 885,237 895,131 |
Disclosure Of Financial Liabilities Explanatory | Financial liabilities Held for trading Trading portfolio liabilities 30,463 22,825 Negative replacement values 116,134 153,810 Total 146,598 176,635 Fair value through profit or loss Financial liabilities designated at fair value 54,202 55,017 Amounts due under unit-linked investment contracts 11,523 9,286 Other liabilities 122 131 Total 65,847 64,434 Financial liabilities at amortized cost Due to banks 7,533 10,645 Cash collateral on securities lent 1,789 2,818 Repurchase agreements 15,255 6,612 Cash collateral payables on derivative instruments 30,247 35,472 Due to customers 447,148 450,211 Debt issued 104,759 79,036 Other liabilities 37,064 38,992 Total 643,795 623,786 Total financial liabilities 856,240 864,855 1 As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. 2 Represents the embedded derivative component of structured financial instruments for which the fair value option has not been applied and that is presented within Due to customers and Debt issued on the balance sheet. 3 Includes finance lease receivables of CHF 1.1 billion as of 31 December 2017 (31 December 2016: CHF 1.0 billion). Refer to Notes 10 and 31 for more information. |
Disclosure Of Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.17 Collateral Credit enhancements CHF billion Maximum exposure to credit risk Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 87.1 87.1 Due from banks 2 13.7 0.1 13.6 Cash collateral on securities borrowed 12.4 12.2 0.2 Reverse repurchase agreements 77.2 72.8 4.2 0.2 Cash collateral receivables on derivative instruments 3,4 23.4 12.5 11.0 Loans 5 321.7 17.9 111.4 160.1 15.9 0.0 1.3 15.1 Financial assets held to maturity 9.2 9.2 Other assets 25.8 19.5 6.3 Total financial assets measured at amortized cost 570.6 17.9 216.0 160.1 20.1 12.5 0.0 1.3 142.7 Financial assets measured at fair value on the balance sheet Positive replacement values 4 118.2 4.0 100.2 14.0 Trading portfolio assets – debt instruments 6,7 25.7 25.7 Financial assets designated at fair value – debt instruments 8 58.4 9.8 48.5 Financial assets available for sale – debt instruments 8 7.9 7.9 Total financial assets measured at fair value 210.2 0.0 13.8 0.0 0.0 100.2 0.0 0.0 96.2 Total maximum exposure to credit risk reflected on the balance sheet 780.8 17.9 229.8 160.1 20.1 112.7 0.0 1.3 238.9 Guarantees 9 18.8 1.0 2.1 0.2 1.2 3.0 11.3 Loan commitments 9 39.1 2.8 1.1 9.5 1.0 1.4 23.3 Forward starting transactions, reverse repurchase and securities borrowing agreements 12.7 12.4 0.2 Total maximum exposure to credit risk not reflected on the balance sheet 70.6 1.0 17.4 1.2 10.7 0.0 1.0 4.4 34.8 Total 851.4 18.9 247.1 161.3 30.8 112.7 1.1 5.8 273.7 Maximum exposure to credit risk (continued) 31.12.16 Collateral Credit enhancements CHF billion Maximum exposure to credit risk Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 107.1 107.1 Due from banks 2 13.1 13.1 Cash collateral on securities borrowed 15.1 14.8 0.3 Reverse repurchase agreements 66.2 62.5 3.2 0.5 Cash collateral receivables on derivative instruments 3,4 26.7 15.1 11.5 Loans 5 307.0 17.9 99.6 158.2 14.6 0.1 1.8 14.8 Financial assets held to maturity 9.3 9.3 Other assets 18.6 10.0 8.7 Total financial assets measured at amortized cost 563.2 17.9 186.9 158.2 17.7 15.1 0.1 1.8 165.3 Financial assets measured at fair value on the balance sheet Positive replacement values 4 158.4 5.3 134.5 18.6 Trading portfolio assets – debt instruments 6,7 21.9 21.9 Financial assets designated at fair value – debt instruments 8 64.8 2.6 0.6 61.6 Financial assets available for sale – debt instruments 8 14.9 14.9 Total financial assets measured at fair value 260.0 0.0 7.9 0.0 0.0 134.5 0.6 0.0 117.0 Total maximum exposure to credit risk reflected on the balance sheet 823.2 17.9 194.9 158.2 17.7 149.6 0.7 1.8 282.3 Guarantees 9 16.7 1.4 2.0 0.2 1.2 0.1 3.0 8.8 Loan commitments 9 54.4 0.1 3.9 1.0 9.5 4.8 2.0 33.1 Forward starting transactions, reverse repurchase and securities borrowing agreements 10.2 10.2 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 81.3 1.5 16.1 1.1 10.6 0.0 4.9 5.1 41.9 Total 904.5 19.4 210.9 159.4 28.4 149.6 5.7 6.8 324.3 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 Due from banks includes amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. 3 Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. 4 The amount shown in the netting column represents the netting potential not recognized on the balance sheet. Refer to Note 24 for more information. 5 Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. In 2017, we further aligned our collateral allocation processes within Wealth Management Americas to prioritize collateral mainly according to its liquidity profile. This change resulted in increases in loans secured by cash and decreases in loans secured by securities of CHF 4.5 billion. 6 These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. 7 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 8 Does not include investment fund units. Financial assets designated at fair value collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 9 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to the “Treasury management” section of this report for more information. |
Disclosure Of Internal Credit Exposures Explanatory | Financial assets subject to credit risk by rating category CHF billion 31.12.17 Rating category 1 0–1 2–3 4–5 6–8 9–13 Defaulted Total Balances with central banks 86.6 0.5 87.1 Due from banks 0.6 10.6 1.4 0.9 0.3 13.7 Cash collateral on securities borrowed and reverse repurchase agreements 24.3 36.4 16.8 10.4 1.8 89.6 Positive replacement values 17.0 75.3 19.4 6.2 0.3 118.2 Cash collateral receivables on derivative instruments 6.5 9.7 5.6 1.6 0.1 23.4 Trading portfolio assets – debt instruments 2 10.3 7.4 3.0 2.1 3.0 25.7 Loans 3.2 163.6 65.7 70.0 17.6 1.5 321.7 Financial assets designated at fair value – debt instruments 3 33.8 14.2 1.5 0.8 8.0 58.4 Financial assets available for sale – debt instruments 3 6.8 1.0 0.1 7.9 Financial assets held to maturity 8.5 0.7 9.2 Other assets 0.1 0.4 8.4 15.9 0.8 0.3 25.8 Guarantees, commitments and forward starting transactions Guarantees 2.0 9.1 4.1 2.7 0.8 0.2 18.8 Loan commitments 1.9 15.4 9.4 5.8 6.5 39.1 Forward starting transactions, reverse repurchase and securities borrowing agreements 12.7 12.7 Total 201.7 356.8 135.2 116.5 39.1 2.0 851.4 CHF billion 31.12.16 Rating category 1 0–1 2–3 4–5 6–8 9–13 Defaulted Total Balances with central banks 106.2 0.9 107.1 Due from banks 0.6 9.7 2.0 0.5 0.3 13.1 Cash collateral on securities borrowed and reverse repurchase agreements 29.2 24.5 20.1 6.9 0.7 81.4 Positive replacement values 19.6 96.9 34.2 7.4 0.4 158.4 Cash collateral receivables on derivative instruments 6.4 12.2 6.4 1.6 0.2 26.7 Trading portfolio assets – debt instruments 2 9.0 6.9 2.9 1.7 1.3 21.9 Loans 31.7 127.8 63.2 63.6 19.1 1.6 307.0 Financial assets designated at fair value – debt instruments 3 48.4 12.6 1.0 1.6 1.3 64.8 Financial assets available for sale – debt instruments 3 12.7 1.8 0.2 0.1 14.9 Financial assets held to maturity 8.4 0.9 9.3 Other assets 0.1 2.1 6.2 7.7 2.2 0.3 18.6 Guarantees, commitments and forward starting transactions Guarantees 2.0 6.4 3.7 3.6 0.7 0.3 16.7 Loan commitments 2.4 19.5 17.1 8.7 6.5 0.1 54.4 Forward starting transactions, reverse repurchase and securities borrowing agreements 0.6 9.4 0.3 10.2 Total 277.4 331.6 157.2 103.5 32.7 2.2 904.5 1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and control” section of this report for more information on rating categories. 2 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 3 Does not include investment fund units. |
Disclosure of maturity analysis for financial liabilities [text block] | Maturity analysis of financial liabilities 1 CHF billion Due within 1 month Due between 1 and 3 months Due between 3 and 12 months Due between 1 and 5 years Due after 5 years Total Financial liabilities recognized on balance sheet 2 Due to banks 6.1 0.4 1.0 0.1 0.0 7.5 Cash collateral on securities lent 1.7 0.2 1.9 Repurchase agreements 11.9 2.8 0.6 0.0 0.0 15.3 Trading portfolio liabilities 3,4 30.5 30.5 Negative replacement values 3 116.1 116.1 Cash collateral payables on derivative instruments 30.2 30.2 Due to customers 394.8 11.4 5.8 22.2 19.1 453.3 Financial liabilities designated at fair value 5 18.4 10.3 11.6 8.8 7.1 56.3 Debt issued 4.1 14.5 44.5 34.8 12.5 110.3 Other liabilities 47.4 47.4 Total 31.12.17 661.2 39.6 63.4 65.9 38.7 868.9 Total 31.12.16 706.7 39.2 40.2 45.9 45.6 877.7 Guarantees, commitments and forward starting transactions 6 Loan commitments 38.2 0.2 0.2 0.1 38.7 Guarantees 18.8 0.0 18.9 Forward starting transactions Reverse repurchase agreements 12.7 12.7 Securities borrowing agreements 0.0 0.0 Total 31.12.17 69.7 0.2 0.2 0.1 0.0 70.2 Total 31.12.16 81.0 0.2 0.2 0.0 0.0 81.4 1 Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. 2 Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. 3 Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. 4 Contractual maturities of trading portfolio liabilities are: CHF 29.5 billion due within one month (2016: CHF 21.8 billion), CHF 0.8 billion due between one month and one year (2016: CHF 1.0 billion) and CHF 0.1 billion due between 1 and 5 years (2016: CHF 0.1 billion). 5 Future interest payments on variable rate liabilities are determined by reference to the applicable interest rate prevailing as of the reporting date. Future principal payments that are variable are determined by reference to the conditions existing at the reporting date. 6 Comprises the maximum irrevocable amount of guarantees, commitments and forward starting transactions. |
Pension and other post-employ95
Pension and other post-employment benefit plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Actuarial Assumptions [Member] | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure of expenses on post-employment benefit [text block] | Income statement – expenses related to pension and other post-employment benefit plans CHF million 31.12.17 31.12.16 31.12.15 Net periodic expenses for defined benefit plans 471 435 569 of which: related to major pension plans 1 452 412 546 of which: Swiss plan 2 406 381 515 of which: UK plan 14 (2) 18 of which: US and German plans 31 33 12 of which: related to post-employment medical insurance plans 3 3 4 4 of which: UK plan 1 1 1 of which: US plans 2 3 2 of which: related to remaining plans and other expenses 4 17 19 19 Expenses for defined contribution plans 5 239 236 239 of which: UK plans 71 77 86 of which: US plan 108 106 100 of which: remaining plans 59 53 53 Total pension and other post-employment benefit plan expenses 6 710 670 808 1 Refer to Note 26a for more information. 2 The increase in net periodic pension expenses for the Swiss pension plan between 2017 and 2016 related primarily to lower curtailments, partly offset by lower expenses due to changes in demographic and financial assumptions. 3 Refer to Note 26b for more information. 4 Other expenses include differences between actual and estimated performance award accruals and net accrued pension expenses related to restructuring. 5 Refer to Note 26c for more information. 6 Refer to Note 6. |
Disclosure of Other comprehensive income gains/(losses) on defined benefit plans [text block] | Other comprehensive income – gains / (losses) on defined benefit plans CHF million 31.12.17 31.12.16 31.12.15 Major pension plans 1 245 (837) 339 of which: Swiss plan (78) (105) 58 of which: UK plan 295 (610) 317 of which: US and German plans 28 (122) (35) Post-employment medical insurance plans 2 1 (13) (3) of which: UK plan 1 (6) 6 of which: US plans 0 (7) (9) Remaining plans 31 (26) (14) Gains / (losses) recognized in other comprehensive income, before tax 277 (876) 322 Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income 11 52 (19) Gains / (losses) recognized in other comprehensive income, net of tax 3 288 (824) 304 of which: attributable to shareholders 288 (824) 298 of which: attributable to non-controlling interests 0 0 5 1 Refer to Note 26a for more information. 2 Refer to Note 26b for more information. 3 Refer to the “Statement of comprehensive income.” |
Disclosure of net defined benefit liability [text block] | Balance sheet – net defined benefit pension and post-employment liability CHF million 31.12.17 31.12.16 Major pension plans 1 805 1,140 of which: Swiss plan 0 0 of which: UK plan 268 529 of which: US and German plans 2 536 611 Post-employment medical insurance plans 3 86 91 of which: UK plan 26 26 of which: US plans 59 65 Remaining plans 35 35 Total net defined benefit pension and post-employment liability 4 925 1,266 1 Refer to Note 26a for more information. 2 Of the total liability as of 31 December 2017, CHF 149 million related to US plans and CHF 388 million related to German plans (31 December 2016: CHF 265 million related to US plans and CHF 346 million related to German plans). 3 Refer to Note 26b for more information. 4 Refer to Note 21. |
Disclosure Of Transactions Between Related Parties Explanatory | Related-party disclosure For the year ended CHF million 31.12.17 31.12.16 31.12.15 Received by UBS Fees 36 36 33 Paid by UBS Rent 4 4 5 Dividends, capital repayments and interest 9 15 13 |
Disclosure of transaction volumes of UBS shares and UBS debt instruments [text block] | Transaction volumes – UBS shares and UBS debt instruments For the year ended 31.12.17 31.12.16 Financial instruments bought by pension funds UBS shares (in thousands of shares) 905 2,427 UBS debt instruments (par values, CHF million) 2 0 Financial instruments sold by pension funds or matured UBS shares (in thousands of shares) 2,897 1,618 UBS debt instruments (par values, CHF million) 4 0 UBS shares held by pension and other post-employment benefit plans 31.12.17 31.12.16 Number of shares (in thousands of shares) 16,370 18,363 Fair value (CHF million) 293 293 |
Major pension plans | Actuarial Assumptions [Member] | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure Of Defined Benefit Plans Explanatory | Defined benefit pension plans CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Defined benefit obligation at the beginning of the year 22,865 22,636 3,704 3,350 1,755 1,619 28,325 27,605 Current service cost 448 471 0 0 9 9 456 480 Interest expense 163 240 100 116 61 62 325 419 Plan participant contributions 205 210 0 0 0 0 205 210 Remeasurements 303 477 (82) 922 80 125 301 1,524 of which: actuarial (gains) / losses due to changes in demographic assumptions 6 (659) (80) (63) (5) 3 (79) (719) of which: actuarial (gains) / losses due to changes in financial assumptions 145 698 47 1,022 84 107 276 1,827 of which: experience (gains) / losses 1 152 438 (49) (37) 2 15 104 416 Curtailments (49) (96) 0 0 0 0 (49) (96) Benefit payments (1,098) (1,074) (251) (135) (107) (98) (1,457) (1,307) Other movements (8) 0 0 0 0 19 (8) 19 Foreign currency translation 0 0 179 (549) (29) 20 150 (529) Defined benefit obligation at the end of the year 22,828 22,865 3,650 3,704 1,770 1,755 28,248 28,325 of which: amounts owed to active members 10,470 10,419 176 290 248 258 10,894 10,967 of which: amounts owed to deferred members 0 0 1,881 2,210 628 584 2,510 2,794 of which: amounts owed to retirees 12,358 12,446 1,593 1,204 893 913 14,844 14,563 Fair value of plan assets at the beginning of the year 24,614 23,919 3,175 3,400 1,144 997 28,934 28,316 Return on plan assets excluding amounts included in interest income 1,619 824 213 312 108 2 1,939 1,139 Interest income 178 258 86 118 44 44 307 420 Employer contributions 477 486 0 0 97 179 574 665 Plan participant contributions 205 210 0 0 0 0 205 210 Benefit payments (1,098) (1,074) (251) (135) (107) (98) (1,457) (1,307) Administration expenses, taxes and premiums paid (10) (10) 0 0 (4) (6) (14) (16) Foreign currency translation 0 0 159 (520) (48) 26 111 (494) Fair value of plan assets at the end of the year 25,984 24,614 3,381 3,175 1,234 1,144 30,599 28,934 Asset ceiling effect at the beginning of the year 1,749 1,283 0 0 0 0 1,749 1,283 Interest expense on asset ceiling effect 13 14 0 0 0 0 13 14 Asset ceiling effect excluding interest expense on asset ceiling effect 1,394 452 0 0 0 0 1,394 452 Asset ceiling effect at the end of the year 3,156 1,749 0 0 0 0 3,156 1,749 Net defined benefit asset / (liability) 0 0 (268) (529) (536) (611) (805) (1,140) Movement in the net asset / (liability) recognized on the balance sheet Net asset / (liability) recognized on the balance sheet at the beginning of the year 0 0 (529) 50 (611) (622) (1,140) (572) Net periodic expenses recognized in net profit (406) (381) (14) 2 (31) (33) (452) (412) Gains / (losses) recognized in other comprehensive income (78) (105) 295 (610) 28 (122) 245 (837) Employer contributions 477 486 0 0 97 179 574 665 Other movements 8 0 0 0 0 (19) 8 (19) Foreign currency translation 0 0 (20) 29 (20) 6 (39) 35 Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 (268) (529) (536) (611) (805) (1,140) Funded and unfunded plans Defined benefit obligation from funded plans 22,828 22,865 3,650 3,704 1,291 1,316 27,769 27,885 Defined benefit obligation from unfunded plans 0 0 0 0 479 440 479 440 Plan assets 25,984 24,614 3,381 3,175 1,234 1,144 30,599 28,934 Surplus / (deficit) 3,156 1,749 (268) (529) (536) (611) 2,351 609 Asset ceiling effect 3,156 1,749 0 0 0 0 3,156 1,749 Net defined benefit asset / (liability) 0 0 (268) (529) (536) (611) (805) (1,140) 1 Experience (gains) / losses are a component of actuarial remeasurements of the defined benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. Analysis of amounts recognized in net profit CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Current service cost 448 471 0 0 9 9 456 480 Interest expense related to defined benefit obligation 163 240 100 116 61 62 325 419 Interest income related to plan assets (178) (258) (86) (118) (44) (44) (307) (420) Interest expense on asset ceiling effect 13 14 0 0 0 0 13 14 Administration expenses, taxes and premiums paid 10 10 0 0 4 6 14 16 Curtailments (49) (96) 0 0 0 0 (49) (96) Net periodic expenses recognized in net profit 406 381 14 (2) 31 33 452 412 Analysis of amounts recognized in other comprehensive income (OCI) CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Remeasurement of defined benefit obligation (303) (477) 82 (922) (80) (125) (301) (1,524) Return on plan assets excluding amounts included in interest income 1,619 824 213 312 108 2 1,939 1,139 Asset ceiling effect excluding interest expense on asset ceiling effect (1,394) (452) 0 0 0 0 (1,394) (452) Total gains / (losses) recognized in other comprehensive income, before tax (78) (105) 295 (610) 28 (122) 245 (837) |
Disclosure of maturity analysis of expected benefit payments [text block] | Swiss plan UK plan US and German plans 1 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Duration of the defined benefit obligation (in years) 15.1 15.1 20.0 22.6 10.6 10.6 Maturity analysis of benefits expected to be paid CHF million Benefits expected to be paid within 12 months 1,120 1,140 81 72 105 103 Benefits expected to be paid between 1 and 3 years 2,236 2,204 177 164 212 213 Benefits expected to be paid between 3 and 6 years 3,368 3,394 328 315 321 328 Benefits expected to be paid between 6 and 11 years 5,423 5,439 699 710 558 562 Benefits expected to be paid between 11 and 16 years 4,980 5,041 786 856 501 514 Benefits expected to be paid in more than 16 years 16,757 17,162 4,216 6,064 865 958 1 The duration of the defined benefit obligation represents a weighted average across US and German plans. |
Disclosure of actuarial assumptions [text block] | Principal actuarial assumptions used Swiss plan UK plan US and German plans 1 In % 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate 0.67 0.73 2.55 2.69 3.14 3.58 Rate of salary increase 1.30 1.30 0.00 0.00 2.83 2.86 Rate of pension increase 0.00 0.00 3.11 3.18 1.50 1.50 Rate of interest credit on retirement savings 0.67 0.73 0.00 0.00 2.56 1.74 1 Represents weighted average assumptions across US and German plans. |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions Explanatory | Sensitivity analysis of significant actuarial assumptions 1 Increase / (decrease) in defined benefit obligation Swiss plan UK plan US and German plans CHF million 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate Increase by 50 basis points (1,432) (1,435) (341) (388) (88) (86) Decrease by 50 basis points 1,627 1,630 391 452 96 94 Rate of salary increase Increase by 50 basis points 84 86 – 2 – 2 1 1 Decrease by 50 basis points (80) (79) – 2 – 2 (1) (1) Rate of pension increase Increase by 50 basis points 1,181 1,178 370 435 7 6 Decrease by 50 basis points – 3 – 3 (327) (377) (6) (6) Rate of interest credit on retirement savings Increase by 50 basis points 260 264 – 4 – 4 9 9 Decrease by 50 basis points (247) (250) – 4 – 4 (9) (8) Life expectancy Increase in longevity by one additional year 807 796 139 136 47 44 1 The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. 2 As the plan is closed for future service, a change in assumption is not applicable. 3 As the assumed rate of pension increase was 0% as of 31 December 2017 and as of 31 December 2016, a downward change in assumption is not applicable. 4 As the UK plan does not provide interest credits on retirement savings, a change in assumption is not applicable. |
Disclosure of composition and fair value of plan assets [text block] | Composition and fair value of plan assets Swiss plan 31.12.17 31.12.16 Fair value Plan asset allocation % Fair value Plan asset allocation % CHF million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 117 0 117 0 869 0 869 4 Real estate / property Domestic 0 2,787 2,787 11 0 2,689 2,689 11 Investment funds Equity Domestic 650 0 650 3 938 0 938 4 Foreign 7,317 1,298 8,615 33 6,558 1,170 7,728 31 Bonds 1 Domestic, AAA to BBB– 2,221 0 2,221 9 2,222 0 2,222 9 Foreign, AAA to BBB– 6,214 0 6,214 24 5,877 0 5,877 24 Foreign, below BBB– 563 0 563 2 1,176 0 1,176 5 Real estate Foreign 0 23 23 0 0 42 42 0 Other 839 3,942 4,781 18 283 2,776 3,059 12 Other investments 0 12 12 0 0 15 15 0 Total fair value of plan assets 17,922 8,061 25,984 100 17,923 6,691 24,614 100 31.12.17 31.12.16 Total fair value of plan assets 25,984 24,614 of which: 2 Bank accounts at UBS 117 432 UBS debt instruments 3 5 UBS shares 33 47 Securities lent to UBS 3 1,979 1,855 Property occupied by UBS 83 83 Derivative financial instruments, counterparty UBS 3 23 (220) 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in the Standard & Poor’s rating classification. 2 Bank accounts at UBS encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS instruments and indirect investments, i.e. those made through funds that the pension fund invests in. 3 Securities lent to UBS and derivative financial instruments are presented gross of any collateral. Securities lent to UBS were fully covered by collateral as of 31 December 2017 and 31 December 2016. Net of collateral, derivative financial instruments amounted to CHF 11 million as of 31 December 2017 (31 December 2016: CHF 76 million). Composition and fair value of plan assets (continued) UK plan 31.12.17 31.12.16 Fair value Plan asset allocation % Fair value Plan asset allocation % CHF million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 159 0 159 5 133 0 133 4 Bonds 1 Domestic, AAA to BBB– 1,666 0 1,666 49 1,131 0 1,131 36 Domestic, below BBB– 1 0 1 0 1 0 1 0 Investment funds Equity Domestic 31 0 31 1 39 0 39 1 Foreign 1,020 0 1,020 30 984 0 984 31 Bonds 1 Domestic, AAA to BBB– 625 81 706 21 500 28 528 17 Domestic, below BBB– 21 0 21 1 23 0 23 1 Foreign, AAA to BBB– 143 0 143 4 245 0 245 8 Foreign, below BBB– 56 0 56 2 39 0 39 1 Real estate Domestic 100 27 128 4 39 72 111 4 Other (4) 5 1 0 (35) 111 76 2 Other investments 2 (560) 11 (549) (16) (144) 10 (134) (4) Total fair value of plan assets 3,257 124 3,381 100 2,955 221 3,175 100 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in the Standard & Poor’s rating classification. 2 Mainly relates to repurchase arrangements on UK treasury bonds. Composition and fair value of plan assets (continued) US plans 31.12.17 31.12.16 Fair value Weighted average plan asset allocation % Fair value Weighted average plan asset allocation % CHF million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 74 0 74 6 75 0 75 7 Bonds 1 Domestic, AAA to BBB– 195 0 195 16 158 0 158 14 Domestic, below BBB– 10 0 10 1 13 0 13 1 Foreign, AAA to BBB– 44 0 44 4 42 0 42 4 Foreign, below BBB– 1 0 1 0 1 0 1 0 Investment funds Equity Domestic 291 0 291 24 264 0 264 23 Foreign 270 0 270 22 248 0 248 22 Bonds 1 Domestic, AAA to BBB– 210 0 210 17 218 0 218 19 Domestic, below BBB– 19 0 19 2 18 0 18 2 Foreign, AAA to BBB– 46 0 46 4 42 0 42 4 Foreign, below BBB– 5 0 5 0 5 0 5 0 Real estate Domestic 0 12 12 1 0 11 11 1 Other 21 0 21 2 19 0 19 2 Insurance contracts 0 17 17 1 0 18 18 2 Asset-backed securities 15 0 15 1 8 0 8 1 Other investments 4 0 4 0 3 0 3 0 Total fair value of plan assets 1,204 30 1,234 100 1,115 29 1,144 100 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in the Standard & Poor’s rating classification. |
Major pension plans | Actuarial Assumption Of Mortality Rates [Member] | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure of actuarial assumptions [text block] | Mortality tables and life expectancies for major plans Life expectancy at age 65 for a male member currently aged 65 aged 45 Country Mortality table 31.12.17 31.12.16 31.12.17 31.12.16 Switzerland BVG 2015 G with CMI 2016 projections 1 21.6 21.5 23.0 22.9 UK S2PA with CMI 2016 projections 2 23.4 23.7 24.6 25.0 USA RP2014 WCHA with MP2017 projection scale 3 22.8 22.9 24.4 24.4 Germany Dr. K. Heubeck 2005 G 20.3 20.1 22.9 22.8 Life expectancy at age 65 for a female member currently aged 65 aged 45 Country Mortality table 31.12.17 31.12.16 31.12.17 31.12.16 Switzerland BVG 2015 G with CMI 2016 projections 1 23.4 23.4 24.9 24.9 UK S2PA with CMI 2016 projections 2 25.2 25.6 26.5 27.4 USA RP2014 WCHA with MP2017 projection scale 3 24.4 24.5 26.0 26.1 Germany Dr. K. Heubeck 2005 G 24.3 24.2 26.8 26.7 1 In 2016, the mortality table BVG 2015 G with proposed CMI 2016 was used. 2 In 2016, the mortality table S2PA with CMI 2015 projections was used. 3 In 2016, the mortality table RP2014 WCHA with MP2016 projection scale was used. |
Post-employment medical insurance plan | Actuarial Assumptions [Member] | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure Of Defined Benefit Plans Explanatory | Post-employment medical insurance plans CHF million UK plan US plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Post-employment benefit obligation at the beginning of the year 26 25 65 59 91 84 Current service cost 0 0 0 0 0 0 Interest expense 1 1 2 3 3 3 Plan participant contributions 0 0 3 2 3 2 Remeasurements (1) 6 0 7 (1) 13 of which: actuarial (gains) / losses due to changes in demographic assumptions 0 1 0 (1) (1) 0 of which: actuarial (gains) / losses due to changes in financial assumptions (1) 5 2 1 2 6 of which: experience (gains) / losses 1 0 0 (2) 6 (2) 6 Benefit payments 2 (1) (1) (7) (7) (9) (8) Foreign currency translation 1 (4) (3) 1 (1) (3) Post-employment benefit obligation at the end of the year 26 26 59 65 86 91 of which: amounts owed to active members 6 6 0 0 6 6 of which: amounts owed to deferred members 0 0 0 0 0 0 of which: amounts owed to retirees 20 21 59 65 79 86 Fair value of plan assets at the end of the year 0 0 0 0 0 0 Net post-employment benefit asset / (liability) (26) (26) (59) (65) (86) (91) Analysis of amounts recognized in net profit Current service cost 0 0 0 0 0 0 Interest expense related to post-employment benefit obligation 1 1 2 3 3 3 Net periodic expenses 1 1 2 3 3 4 Analysis of amounts recognized in other comprehensive income (OCI) Remeasurement of post-employment benefit obligation 1 (6) 0 (7) 1 (13) Total gains / (losses) recognized in other comprehensive income, before tax 1 (6) 0 (7) 1 (13) 1 Experience (gains) / losses are a component of actuarial remeasurements of the post-employment benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. 2 Benefit payments are funded by employer contributions and plan participant contributions. |
Disclosure of actuarial assumptions [text block] | Principal actuarial assumptions used 1 UK plan US plans 2 In % 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate 2.55 2.69 3.54 3.97 Average health care cost trend rate – initial 5.10 5.10 7.99 7.03 Average health care cost trend rate – ultimate 5.10 5.10 4.50 4.50 1 The assumptions for life expectancies are provided within Note 26a. 2 Represents weighted average assumptions across US plans. |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions Explanatory | Sensitivity analysis of significant actuarial assumptions 1 Increase / (decrease) in post-employment benefit obligation UK plan US plans CHF million 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate Increase by 50 basis points (2) (2) (3) (3) Decrease by 50 basis points 2 2 3 3 Average health care cost trend rate Increase by 100 basis points 4 4 1 2 Decrease by 100 basis points (3) (3) (1) (1) Life expectancy Increase in longevity by one additional year 2 2 4 5 1 The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. |
UBS AG | Actuarial Assumptions [Member] | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure of expenses on post-employment benefit [text block] | Income statement – expenses related to pension and other post-employment benefit plans CHF million 31.12.17 31.12.16 31.12.15 Net periodic expenses for defined benefit plans 359 433 568 of which: related to major pension plans 1 347 412 546 of which: Swiss plan 2 302 381 515 of which: UK plan 14 (2) 18 of which: US and German plans 31 33 12 of which: related to post-employment medical insurance plans 3 3 4 4 of which: UK plan 1 1 1 of which: US plans 2 3 2 of which: related to remaining plans and other expenses 4 8 17 19 Expenses for defined contribution plans 5 232 236 239 of which: UK plans 64 77 86 of which: US plan 108 106 100 of which: remaining plans 59 53 53 Total pension and other post-employment benefit plan expenses 6 591 669 807 1 Refer to Note 26a for more information. 2 The decrease in net periodic pension expenses for the Swiss pension plan in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. 3 Refer to Note 26b for more information. 4 Other expenses include differences between actual and estimated performance award accruals and net accrued pension expenses related to restructuring. 5 Refer to Note 26c for more information. 6 Refer to Note 6. |
Disclosure of Other comprehensive income gains/(losses) on defined benefit plans [text block] | Other comprehensive income – gains / (losses) on defined benefit plans CHF million 31.12.17 31.12.16 31.12.15 Major pension plans 1 266 (837) 339 of which: Swiss plan (56) (105) 58 of which: UK plan 295 (610) 317 of which: US and German plans 28 (122) (35) Post-employment medical insurance plans 2 1 (13) (3) of which: UK plan 1 (6) 6 of which: US plans 0 (7) (9) Remaining plans 31 (26) (14) Gains / (losses) recognized in other comprehensive income, before tax 299 (876) 322 Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income 6 52 (19) Gains / (losses) recognized in other comprehensive income, net of tax 3 305 (824) 304 1 Refer to Note 26a for more information. 2 Refer to Note 26b for more information. 3 Refer to the “Statement of comprehensive income.” |
Disclosure of net defined benefit liability [text block] | Balance sheet – net defined benefit pension and post-employment liability CHF million 31.12.17 31.12.16 Major pension plans 1 805 1,140 of which: Swiss plan 0 0 of which: UK plan 268 529 of which: US and German plans 2 536 611 Post-employment medical insurance plans 3 86 91 of which: UK plan 26 26 of which: US plans 59 65 Remaining plans 34 34 Total net defined benefit pension and post-employment liability 4 925 1,266 1 Refer to Note 26a for more information. 2 Of the total liability as of 31 December 2017, CHF 149 million related to US plans and CHF 388 million related to German plans (31 December 2016: CHF 265 million related to US plans and CHF 346 million related to German plans). 3 Refer to Note 26b for more information. 4 Refer to Note 21. |
Disclosure Of Transactions Between Related Parties Explanatory | Related-party disclosure For the year ended CHF million 31.12.17 31.12.16 31.12.15 Received by UBS AG Fees 36 36 33 Paid by UBS AG Rent 4 4 5 Dividends, capital repayments and interest 9 15 13 |
Disclosure of transaction volumes of UBS shares and UBS debt instruments [text block] | Transaction volumes – UBS Group AG shares and UBS AG debt instruments For the year ended 31.12.17 31.12.16 Financial instruments bought by pension funds UBS Group AG shares (in thousands of shares) 905 2,427 UBS AG debt instruments (par values, CHF million) 2 0 Financial instruments sold by pension funds or matured UBS Group AG shares (in thousands of shares) 2,897 1,618 UBS AG debt instruments (par values, CHF million) 4 0 UBS Group AG shares held by pension and other post-employment benefit plans 31.12.17 31.12.16 Number of shares (in thousands of shares) 16,370 18,363 Fair value (CHF million) 293 293 |
UBS AG | Major pension plans | Actuarial Assumptions [Member] | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure Of Defined Benefit Plans Explanatory | Defined benefit pension plans CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Defined benefit obligation at the beginning of the year 22,865 22,636 3,704 3,350 1,755 1,619 28,325 27,605 Current service cost 324 471 0 0 9 9 333 480 Interest expense 117 240 100 116 61 62 279 419 Plan participant contributions 155 210 0 0 0 0 155 210 Remeasurements 51 477 (82) 922 80 125 49 1,524 of which: actuarial (gains) / losses due to changes in demographic assumptions 4 (659) (80) (63) (5) 3 (81) (719) of which: actuarial (gains) / losses due to changes in financial assumptions 138 698 47 1,022 84 107 269 1,827 of which: experience (gains) / losses 1 (90) 438 (49) (37) 2 15 (138) 416 Curtailments (27) (96) 0 0 0 0 (27) (96) Benefit payments (767) (1,074) (251) (135) (107) (98) (1,126) (1,307) Other movements 2 (8,682) 0 0 0 0 19 (8,682) 19 Foreign currency translation 0 0 179 (549) (29) 20 150 (529) Defined benefit obligation at the end of the year 14,035 22,865 3,650 3,704 1,770 1,755 19,454 28,325 of which: amounts owed to active members 6,437 10,419 176 290 248 258 6,861 10,967 of which: amounts owed to deferred members 0 0 1,881 2,210 628 584 2,510 2,794 of which: amounts owed to retirees 7,598 12,446 1,593 1,204 893 913 10,083 14,563 Fair value of plan assets at the beginning of the year 24,614 23,919 3,175 3,400 1,144 997 28,934 28,316 Return on plan assets excluding amounts included in interest income 994 824 213 312 108 2 1,314 1,139 Interest income 128 258 86 118 44 44 257 420 Employer contributions 351 486 0 0 97 179 448 665 Plan participant contributions 155 210 0 0 0 0 155 210 Benefit payments (767) (1,074) (251) (135) (107) (98) (1,126) (1,307) Administration expenses, taxes and premiums paid (7) (10) 0 0 (4) (6) (12) (16) Other movements 2 (9,492) 0 0 0 0 0 (9,492) 0 Foreign currency translation 0 0 159 (520) (48) 26 111 (494) Fair value of plan assets at the end of the year 15,975 24,614 3,381 3,175 1,234 1,144 20,590 28,934 Asset ceiling effect at the beginning of the year 1,749 1,283 0 0 0 0 1,749 1,283 Interest expense on asset ceiling effect 9 14 0 0 0 0 9 14 Asset ceiling effect excluding interest expense on asset ceiling effect 999 452 0 0 0 0 999 452 Other movements 2 (817) 0 0 0 0 0 (817) 0 Asset ceiling effect at the end of the year 1,940 1,749 0 0 0 0 1,940 1,749 Net defined benefit asset / (liability) 0 0 (268) (529) (536) (611) (805) (1,140) Movement in the net asset / (liability) recognized on the balance sheet Net asset / (liability) recognized on the balance sheet at the beginning of the year 0 0 (529) 50 (611) (622) (1,140) (572) Net periodic expenses recognized in net profit (302) (381) (14) 2 (31) (33) (347) (412) Gains / (losses) recognized in other comprehensive income (56) (105) 295 (610) 28 (122) 266 (837) Employer contributions 351 486 0 0 97 179 448 665 Other movements 8 0 0 0 0 (19) 8 (19) Foreign currency translation 0 0 (20) 29 (20) 6 (39) 35 Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 (268) (529) (536) (611) (805) (1,140) Funded and unfunded plans Defined benefit obligation from funded plans 14,035 22,865 3,650 3,704 1,291 1,316 18,975 27,885 Defined benefit obligation from unfunded plans 0 0 0 0 479 440 479 440 Plan assets 15,975 24,614 3,381 3,175 1,234 1,144 20,590 28,934 Surplus / (deficit) 1,940 1,749 (268) (529) (536) (611) 1,135 609 Asset ceiling effect 1,940 1,749 0 0 0 0 1,940 1,749 Net defined benefit asset / (liability) 0 0 (268) (529) (536) (611) (805) (1,140) 1 Experience (gains) / losses are a component of actuarial remeasurements of the defined benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. 2 Primarily reflects the transfer of employees from UBS AG to UBS Business Solutions AG. Analysis of amounts recognized in net profit CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Current service cost 324 471 0 0 9 9 333 480 Interest expense related to defined benefit obligation 117 240 100 116 61 62 279 419 Interest income related to plan assets (128) (258) (86) (118) (44) (44) (257) (420) Interest expense on asset ceiling effect 9 14 0 0 0 0 9 14 Administration expenses, taxes and premiums paid 7 10 0 0 4 6 12 16 Curtailments (27) (96) 0 0 0 0 (27) (96) Net periodic expenses recognized in net profit 302 381 14 (2) 31 33 347 412 Analysis of amounts recognized in other comprehensive income (OCI) CHF million Swiss plan UK plan US and German plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Remeasurement of defined benefit obligation (51) (477) 82 (922) (80) (125) (49) (1,524) Return on plan assets excluding amounts included in interest income 994 824 213 312 108 2 1,314 1,139 Asset ceiling effect excluding interest expense on asset ceiling effect (999) (452) 0 0 0 0 (999) (452) Total gains / (losses) recognized in other comprehensive income, before tax (56) (105) 295 (610) 28 (122) 266 (837) |
Disclosure of maturity analysis of expected benefit payments [text block] | Swiss plan 1 UK plan US and German plans 2 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Duration of the defined benefit obligation (in years) 15.1 15.1 20.0 22.6 10.6 10.6 Maturity analysis of benefits expected to be paid CHF million Benefits expected to be paid within 12 months 689 1,140 81 72 105 103 Benefits expected to be paid between 1 and 3 years 1,389 2,204 177 164 212 213 Benefits expected to be paid between 3 and 6 years 2,085 3,394 328 315 321 328 Benefits expected to be paid between 6 and 11 years 3,326 5,439 699 710 558 562 Benefits expected to be paid between 11 and 16 years 3,090 5,041 786 856 501 514 Benefits expected to be paid in more than 16 years 10,453 17,162 4,216 6,064 865 958 1 The decrease in benefits expected to be paid in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. 2 The duration of the defined benefit obligation represents a weighted average across US and German plans. |
Disclosure of actuarial assumptions [text block] | Principal actuarial assumptions used Swiss plan UK plan US and German plans 1 In % 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate 0.67 0.73 2.55 2.69 3.14 3.58 Rate of salary increase 1.30 1.30 0.00 0.00 2.83 2.86 Rate of pension increase 0.00 0.00 3.11 3.18 1.50 1.50 Rate of interest credit on retirement savings 0.67 0.73 0.00 0.00 2.56 1.74 1 Represents weighted average assumptions across US and German plans. |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions Explanatory | Sensitivity analysis of significant actuarial assumptions 1 Increase / (decrease) in defined benefit obligation Swiss plan 2 UK plan US and German plans CHF million 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate Increase by 50 basis points (875) (1,435) (341) (388) (88) (86) Decrease by 50 basis points 996 1,630 391 452 96 94 Rate of salary increase Increase by 50 basis points 60 86 – 3 – 3 1 1 Decrease by 50 basis points (57) (79) – 3 – 3 (1) (1) Rate of pension increase Increase by 50 basis points 708 1,178 370 435 7 6 Decrease by 50 basis points – 4 – 4 (327) (377) (6) (6) Rate of interest credit on retirement savings Increase by 50 basis points 164 264 – 5 – 5 9 9 Decrease by 50 basis points (155) (250) – 5 – 5 (9) (8) Life expectancy Increase in longevity by one additional year 485 796 139 136 47 44 1 The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. 2 The decrease in sensitivity in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. 3 As the plan is closed for future service, a change in assumption is not applicable. 4 As the assumed rate of pension increase was 0% as of 31 December 2017 and as of 31 December 2016, a downward change in assumption is not applicable. 5 As the UK plan does not provide interest credits on retirement savings, a change in assumption is not applicable. |
Disclosure of composition and fair value of plan assets [text block] | Composition and fair value of plan assets Swiss plan 31.12.17 31.12.16 Fair value Plan asset allocation % Fair value Plan asset allocation % CHF million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 72 0 72 0 869 0 869 4 Real estate / property Domestic 0 1,714 1,714 11 0 2,689 2,689 11 Investment funds Equity Domestic 400 0 400 3 938 0 938 4 Foreign 4,499 798 5,297 33 6,558 1,170 7,728 31 Bonds 1 Domestic, AAA to BBB– 1,366 0 1,366 9 2,222 0 2,222 9 Foreign, AAA to BBB– 3,821 0 3,821 24 5,877 0 5,877 24 Foreign, below BBB– 346 0 346 2 1,176 0 1,176 5 Real estate Foreign 0 14 14 0 0 42 42 0 Other 516 2,423 2,940 18 283 2,776 3,059 12 Other investments 0 7 7 0 0 15 15 0 Total fair value of plan assets 11,019 4,956 15,975 100 17,923 6,691 24,614 100 31.12.17 31.12.16 Total fair value of plan assets 15,975 24,614 of which: 2 Bank accounts at UBS AG 117 432 UBS AG debt instruments 3 5 UBS Group AG shares 33 47 Securities lent to UBS AG 3 1,979 1,855 Property occupied by UBS AG 83 83 Derivative financial instruments, counterparty UBS AG 3 23 (220) 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in the Standard & Poor’s rating classification. 2 Bank accounts at UBS AG encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS AG instruments and UBS Group AG shares and indirect investments, i.e., those made through funds that the pension fund invests in. 3 Securities lent to UBS AG and derivative financial instruments are presented gross of any collateral. Securities lent to UBS AG were fully covered by collateral as of 31 December 2017 and 31 December 2016. Net of collateral, derivative financial instruments amounted to CHF 11 million as of 31 December 2017 (31 December 2016: CHF 76 million). Composition and fair value of plan assets (continued) UK plan 31.12.17 31.12.16 Fair value Plan asset allocation % Fair value Plan asset allocation % CHF million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 159 0 159 5 133 0 133 4 Bonds 1 Domestic, AAA to BBB– 1,666 0 1,666 49 1,131 0 1,131 36 Domestic, below BBB– 1 0 1 0 1 0 1 0 Investment funds Equity Domestic 31 0 31 1 39 0 39 1 Foreign 1,020 0 1,020 30 984 0 984 31 Bonds 1 Domestic, AAA to BBB– 625 81 706 21 500 28 528 17 Domestic, below BBB– 21 0 21 1 23 0 23 1 Foreign, AAA to BBB– 143 0 143 4 245 0 245 8 Foreign, below BBB– 56 0 56 2 39 0 39 1 Real estate Domestic 100 27 128 4 39 72 111 4 Other (4) 5 1 0 (35) 111 76 2 Other investments 2 (560) 11 (549) (16) (144) 10 (134) (4) Total fair value of plan assets 3,257 124 3,381 100 2,955 221 3,175 100 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in the Standard & Poor’s rating classification. 2 Mainly relates to repurchase arrangements on UK treasury bonds. Composition and fair value of plan assets (continued) US plans 31.12.17 31.12.16 Fair value Weighted average plan asset allocation % Fair value Weighted average plan asset allocation % CHF million Quoted in an active market Other Total Quoted in an active market Other Total Cash and cash equivalents 74 0 74 6 75 0 75 7 Bonds 1 Domestic, AAA to BBB– 195 0 195 16 158 0 158 14 Domestic, below BBB– 10 0 10 1 13 0 13 1 Foreign, AAA to BBB– 44 0 44 4 42 0 42 4 Foreign, below BBB– 1 0 1 0 1 0 1 0 Investment funds Equity Domestic 291 0 291 24 264 0 264 23 Foreign 270 0 270 22 248 0 248 22 Bonds 1 Domestic, AAA to BBB– 210 0 210 17 218 0 218 19 Domestic, below BBB– 19 0 19 2 18 0 18 2 Foreign, AAA to BBB– 46 0 46 4 42 0 42 4 Foreign, below BBB– 5 0 5 0 5 0 5 0 Real estate Domestic 0 12 12 1 0 11 11 1 Other 21 0 21 2 19 0 19 2 Insurance contracts 0 17 17 1 0 18 18 2 Asset-backed securities 15 0 15 1 8 0 8 1 Other investments 4 0 4 0 3 0 3 0 Total fair value of plan assets 1,204 30 1,234 100 1,115 29 1,144 100 1 The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in the Standard & Poor’s rating classification. |
UBS AG | Major pension plans | Actuarial Assumption Of Mortality Rates [Member] | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure of actuarial assumptions [text block] | Mortality tables and life expectancies for major plans Life expectancy at age 65 for a male member currently aged 65 aged 45 Country Mortality table 31.12.17 31.12.16 31.12.17 31.12.16 Switzerland BVG 2015 G with CMI 2016 projections 1 21.6 21.5 23.0 22.9 UK S2PA with CMI 2016 projections 2 23.4 23.7 24.6 25.0 USA RP2014 WCHA with MP2017 projection scale 3 22.8 22.9 24.4 24.4 Germany Dr. K. Heubeck 2005 G 20.3 20.1 22.9 22.8 Life expectancy at age 65 for a female member currently aged 65 aged 45 Country Mortality table 31.12.17 31.12.16 31.12.17 31.12.16 Switzerland BVG 2015 G with CMI 2016 projections 1 23.4 23.4 24.9 24.9 UK S2PA with CMI 2016 projections 2 25.2 25.6 26.5 27.4 USA RP2014 WCHA with MP2017 projection scale 3 24.4 24.5 26.0 26.1 Germany Dr. K. Heubeck 2005 G 24.3 24.2 26.8 26.7 1 In 2016, the mortality table BVG 2015 G with proposed CMI 2016 was used. 2 In 2016, the mortality table S2PA with CMI 2015 projections was used. 3 In 2016, the mortality table RP2014 WCHA with MP2016 projection scale was used. |
UBS AG | Post-employment medical insurance plan | Actuarial Assumptions [Member] | |
Disclosure Of Pension And Other Post-employment Benefit Plans [Line Items] | |
Disclosure Of Defined Benefit Plans Explanatory | Post-employment medical insurance plans CHF million UK plan US plans Total For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Post-employment benefit obligation at the beginning of the year 26 25 65 59 91 84 Current service cost 0 0 0 0 0 0 Interest expense 1 1 2 3 3 3 Plan participant contributions 0 0 3 2 3 2 Remeasurements (1) 6 0 7 (1) 13 of which: actuarial (gains) / losses due to changes in demographic assumptions 0 1 0 (1) (1) 0 of which: actuarial (gains) / losses due to changes in financial assumptions (1) 5 2 1 2 6 of which: experience (gains) / losses 1 0 0 (2) 6 (2) 6 Benefit payments 2 (1) (1) (7) (7) (9) (8) Foreign currency translation 1 (4) (3) 1 (1) (3) Post-employment benefit obligation at the end of the year 26 26 59 65 86 91 of which: amounts owed to active members 6 6 0 0 6 6 of which: amounts owed to deferred members 0 0 0 0 0 0 of which: amounts owed to retirees 20 21 59 65 79 86 Fair value of plan assets at the end of the year 0 0 0 0 0 0 Net post-employment benefit asset / (liability) (26) (26) (59) (65) (86) (91) Analysis of amounts recognized in net profit Current service cost 0 0 0 0 0 0 Interest expense related to post-employment benefit obligation 1 1 2 3 3 3 Net periodic expenses 1 1 2 3 3 4 Analysis of amounts recognized in other comprehensive income (OCI) Remeasurement of post-employment benefit obligation 1 (6) 0 (7) 1 (13) Total gains / (losses) recognized in other comprehensive income, before tax 1 (6) 0 (7) 1 (13) 1 Experience (gains) / losses are a component of actuarial remeasurements of the post-employment benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. 2 Benefit payments are funded by employer contributions and plan participant contributions. |
Disclosure of actuarial assumptions [text block] | Principal actuarial assumptions used 1 UK plan US plans 2 In % 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate 2.55 2.69 3.54 3.97 Average health care cost trend rate – initial 5.10 5.10 7.99 7.03 Average health care cost trend rate – ultimate 5.10 5.10 4.50 4.50 1 The assumptions for life expectancies are provided within Note 26a. 2 Represents weighted average assumptions across US plans. |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions Explanatory | Sensitivity analysis of significant actuarial assumptions 1 Increase / (decrease) in post-employment benefit obligation UK plan US plans CHF million 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate Increase by 50 basis points (2) (2) (3) (3) Decrease by 50 basis points 2 2 3 3 Average health care cost trend rate Increase by 100 basis points 4 4 1 2 Decrease by 100 basis points (3) (3) (1) (1) Life expectancy Increase in longevity by one additional year 2 2 4 5 1 The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. Sensitivity analysis of significant actuarial assumptions 1 Increase / (decrease) in post-employment benefit obligation UK plan US plans CHF million 31.12.17 31.12.16 31.12.17 31.12.16 Discount rate Increase by 50 basis points (2) (2) (3) (3) Decrease by 50 basis points 2 2 3 3 Average health care cost trend rate Increase by 100 basis points 4 4 1 2 Decrease by 100 basis points (3) (3) (1) (1) Life expectancy Increase in longevity by one additional year 2 2 4 5 1 The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. |
Employee benefits_ variable c96
Employee benefits: variable compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Equity Participation And Other Compensation Plans [Line Items] | |
Disclosure of compensation-related personnel expenses [text block] | Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2017 Expenses deferred to 2018 and later CHF million Related to the performance year 2017 Related to prior performance years Total Related to the performance year 2017 Related to prior performance years Total Non-deferred cash 2,047 (25) 2,022 0 0 0 Deferred compensation awards 392 676 1,068 590 679 1,270 of which: Equity Ownership Plan 235 337 572 323 284 607 of which: Deferred Contingent Capital Plan 132 304 437 241 367 607 of which: Asset Management EOP 25 31 55 27 26 52 of which: Other performance awards 0 4 4 0 3 3 Total variable compensation – performance awards 2,439 651 3,090 590 679 1,270 Replacement payments 13 58 71 84 42 126 Forfeiture credits 0 (105) (105) 0 0 0 Severance payments 111 0 111 0 0 0 Retention plan and other payments 25 37 62 30 32 61 Deferred Contingent Capital Plan: interest expense 0 109 109 78 216 294 Total variable compensation – other 148 99 248 191 291 482 Financial advisor compensation 2,995 252 3,247 153 779 932 of which: non-deferred cash 2,836 0 2,836 0 0 0 of which: deferred share-based awards 56 44 100 69 117 186 of which: deferred cash-based awards 102 209 311 84 662 746 Compensation commitments with recruited financial advisors 1 30 710 740 360 2,009 2,369 Total Wealth Management Americas: Financial advisor compensation 3,025 962 3,986 513 2,788 3,300 Total variable compensation including WMA FA compensation 5,613 1,712 7,324 2 1,294 3,758 5,052 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes CHF 698 million in expenses related to share-based compensation (performance awards: CHF 572 million; other variable compensation: CHF 26 million; Wealth Management Americas financial advisor compensation: CHF 100 million). A further CHF 99 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 25 million, related to role-based allowances; Social security: CHF 50 million; Other personnel expenses: CHF 25 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 721 million. Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2016 Expenses deferred to 2017 and later CHF million Related to the performance year 2016 Related to prior performance years Total Related to the performance year 2016 Related to prior performance years Total Non-deferred cash 1,817 (42) 1,775 0 0 0 Deferred compensation awards 373 825 1,198 671 856 1,527 of which: Equity Ownership Plan 214 485 699 372 356 727 of which: Deferred Contingent Capital Plan 133 295 428 266 468 735 of which: Asset Management EOP 26 39 65 34 27 60 of which: Other performance awards 0 6 6 0 5 5 Total variable compensation – performance awards 2,191 781 2,972 671 856 1,527 Replacement payments 24 62 86 40 31 71 Forfeiture credits 0 (73) (73) 0 0 0 Severance payments 217 0 217 0 0 0 Retention plan and other payments 25 49 74 24 27 50 Deferred Contingent Capital Plan: interest expense 0 113 113 98 243 341 Total variable compensation – other 266 151 418 162 301 463 Financial advisor compensation 2,651 247 2,898 196 893 1,089 of which: non-deferred cash 2,506 0 2,506 0 0 0 of which: deferred share-based awards 33 48 81 57 120 177 of which: deferred cash-based awards 112 199 311 139 773 912 Compensation commitments with recruited financial advisors 1 43 756 799 607 2,120 2,727 Total Wealth Management Americas: Financial advisor compensation 2,695 1,002 3,697 804 3,013 3,816 Total variable compensation including WMA FA compensation 5,152 1,935 7,087 2 1,637 4,169 5,806 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2. Includes CHF 820 million in expenses related to share-based compensation (performance awards: CHF 699 million; other variable compensation: CHF 40 million; Wealth Management Americas financial advisor compensation: CHF 81 million). A further CHF 90 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 39 million, related to role-based allowances; Social security: CHF 27 million; Other personnel expenses: CHF 24 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 861 million. Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2015 Expenses deferred to 2016 and later CHF million Related to the performance year 2015 Related to prior performance years Total Related to the performance year 2015 Related to prior performance years Total Non-deferred cash 2,073 (94) 1,980 0 0 0 Deferred compensation awards 461 769 1,230 900 822 1,722 of which: Equity Ownership Plan 261 461 722 524 338 861 of which: Deferred Contingent Capital Plan 172 258 429 343 446 789 of which: Asset Management EOP 28 38 67 34 35 69 of which: Other performance awards 0 12 12 0 3 3 Total variable compensation – performance awards 2,535 675 3,210 900 822 1,722 Replacement payments 11 65 76 72 41 114 Forfeiture credits 0 (86) (86) 0 0 0 Severance payments 157 0 157 0 0 0 Retention plan and other payments 15 102 117 15 52 67 Deferred Contingent Capital Plan: interest expense 0 81 81 160 200 360 Total variable compensation – other 184 162 346 248 293 541 Financial advisor compensation 2,629 187 2,816 776 571 1,347 of which: non-deferred cash 2,460 0 2,460 0 0 0 of which: deferred share-based awards 37 45 82 66 115 182 of which: deferred cash-based awards 132 142 275 710 456 1,166 Compensation commitments with recruited financial advisors 1 43 692 735 940 1,899 2,839 Total Wealth Management Americas: Financial advisor compensation 2,673 879 3,552 1,716 2,470 4,186 Total variable compensation including WMA FA compensation 5,391 1,716 7,108 2 2,864 3,585 6,449 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes CHF 858 million in expenses related to share-based compensation (performance awards: CHF 722 million; other variable compensation: CHF 54 million; Wealth Management Americas financial advisor compensation: CHF 82 million). A further CHF 108 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 26 million, related to role-based allowances; Social security: CHF 61 million; Other personnel expenses: CHF 21 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 858 million. |
Disclosure of number and weighted average exercise prices of UBS share and performance share awards [text block] | Movements in outstanding share and performance share awards granted under the EOP Number of shares 2017 Weighted average grant date fair value (CHF) Number of shares 2016 Weighted average grant date fair value (CHF) Outstanding, at the beginning of the year 165,626,088 15 144,185,104 17 Shares awarded during the year 63,872,651 14 82,473,059 14 Distributions during the year (58,756,089) 16 (56,018,881) 16 Forfeited during the year (7,906,936) 15 (5,013,194) 15 Outstanding, at the end of the year 162,835,713 15 165,626,088 15 of which: shares vested for accounting purposes 74,883,139 73,913,272 |
Disclosure of number and weighted average exercise prices of UBS option awards [text block] | Movements in outstanding option awards Number of options 2017 Weighted average exercise price (CHF) Number of options 2016 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 55,913,291 39 80,848,217 45 Exercised during the year 1 (1,632,319) 12 (624,554) 12 Forfeited during the year (38,995) 27 (51,065) 43 Expired unexercised (21,658,809) 61 (24,259,307) 61 Outstanding, at the end of the year 32,583,168 25 55,913,291 39 Exercisable, at the end of the year 32,583,168 25 55,913,291 39 1 The weighted average share price upon option exercise was CHF 16.73 in 2017 (2016: CHF 15.69), resulting in an intrinsic value of CHF 8 million of options exercised during 2017 (2016: CHF 3 million). |
Disclosure of range of exercise prices of outstanding share options [text block] | Options outstanding Range of exercise prices Number of options outstanding Weighted average exercise price (CHF) Aggregate intrinsic value (CHF million) Weighted average remaining contractual term (years) CHF 10.21–15.00 6,139,267 11.37 40.3 1.1 15.01–25.00 6,729,572 19.12 5.3 1.2 25.01–35.00 18,565,697 31.43 0.0 0.2 35.01–45.00 1,146,032 35.67 0.0 0.2 45.01–55.00 2,600 46.02 0.0 0.0 10.21–55.00 32,583,168 45.7 |
Disclosure of number and weighted average exercise prices of SARs [text block] | Movements in outstanding SAR awards Number of SARs 2017 Weighted average exercise price (CHF) Number of SARs 2016 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 10,807,315 12 12,519,765 12 Exercised during the year 1 (2,212,700) 11 (1,579,449) 11 Forfeited during the year (23,000) 11 (6,000) 11 Expired unexercised (58,200) 13 (127,001) 12 Outstanding, at the end of the year 8,513,415 12 10,807,315 12 Exercisable, at the end of the year 8,513,415 12 10,807,315 12 1 The weighted average share price upon exercise of SARs was CHF 16.70 in 2017 (2016: CHF 15.36), resulting in an intrinsic value of CHF 12 million of SARs exercised during 2017 (2016: CHF 6 million). |
Disclosure Of Range Of Exercise Prices Of Outstanding SARs Explanatory | SARs outstanding Range of exercise prices Number of SARs outstanding Weighted average exercise price (CHF) Aggregate intrinsic value (CHF million) Weighted average remaining contractual term (years) CHF 9.35–12.50 8,174,915 11.34 54.0 1.1 12.51–15.00 2,500 14.85 0.0 1.4 15.01–17.50 42,000 16.80 0.0 1.4 17.51–20.00 294,000 19.25 0.0 1.7 9.35–20.00 8,513,415 54.0 |
UBS AG | |
Disclosure Of Equity Participation And Other Compensation Plans [Line Items] | |
Disclosure of compensation-related personnel expenses [text block] | Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2017 Expenses deferred to 2018 and later CHF million Related to the performance year 2017 Related to prior performance years Total Related to the performance year 2017 Related to prior performance years Total Non-deferred cash 2,047 (25) 2,022 0 0 0 Deferred compensation awards 392 676 1,068 590 679 1,270 of which: Equity Ownership Plan 235 337 572 323 284 607 of which: Deferred Contingent Capital Plan 132 304 437 241 367 607 of which: Asset Management EOP 25 31 55 27 26 52 of which: Other performance awards 0 4 4 0 3 3 Total variable compensation – performance awards 2,439 651 3,090 590 679 1,270 Replacement payments 13 58 71 84 42 126 Forfeiture credits 0 (105) (105) 0 0 0 Severance payments 111 0 111 0 0 0 Retention plan and other payments 25 37 62 30 32 61 Deferred Contingent Capital Plan: interest expense 0 109 109 78 216 294 Total variable compensation – other 148 99 248 191 291 482 Financial advisor compensation 2,995 252 3,247 153 779 932 of which: non-deferred cash 2,836 0 2,836 0 0 0 of which: deferred share-based awards 56 44 100 69 117 186 of which: deferred cash-based awards 102 209 311 84 662 746 Compensation commitments with recruited financial advisors 1 30 710 740 360 2,009 2,369 Total Wealth Management Americas: Financial advisor compensation 3,025 962 3,986 513 2,788 3,300 Total variable compensation including WMA FA compensation 5,613 1,712 7,324 2 1,294 3,758 5,052 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes CHF 698 million in expenses related to share-based compensation (performance awards: CHF 572 million; other variable compensation: CHF 26 million; Wealth Management Americas financial advisor compensation: CHF 100 million). A further CHF 99 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 25 million, related to role-based allowances; Social security: CHF 50 million; Other personnel expenses: CHF 25 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 721 million. Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2016 Expenses deferred to 2017 and later CHF million Related to the performance year 2016 Related to prior performance years Total Related to the performance year 2016 Related to prior performance years Total Non-deferred cash 1,817 (42) 1,775 0 0 0 Deferred compensation awards 373 825 1,198 671 856 1,527 of which: Equity Ownership Plan 214 485 699 372 356 727 of which: Deferred Contingent Capital Plan 133 295 428 266 468 735 of which: Asset Management EOP 26 39 65 34 27 60 of which: Other performance awards 0 6 6 0 5 5 Total variable compensation – performance awards 2,191 781 2,972 671 856 1,527 Replacement payments 24 62 86 40 31 71 Forfeiture credits 0 (73) (73) 0 0 0 Severance payments 217 0 217 0 0 0 Retention plan and other payments 25 49 74 24 27 50 Deferred Contingent Capital Plan: interest expense 0 113 113 98 243 341 Total variable compensation – other 266 151 418 162 301 463 Financial advisor compensation 2,651 247 2,898 196 893 1,089 of which: non-deferred cash 2,506 0 2,506 0 0 0 of which: deferred share-based awards 33 48 81 57 120 177 of which: deferred cash-based awards 112 199 311 139 773 912 Compensation commitments with recruited financial advisors 1 43 756 799 607 2,120 2,727 Total Wealth Management Americas: Financial advisor compensation 2,695 1,002 3,697 804 3,013 3,816 Total variable compensation including WMA FA compensation 5,152 1,935 7,087 2 1,637 4,169 5,806 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2. Includes CHF 820 million in expenses related to share-based compensation (performance awards: CHF 699 million; other variable compensation: CHF 40 million; Wealth Management Americas financial advisor compensation: CHF 81 million). A further CHF 90 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 39 million, related to role-based allowances; Social security: CHF 27 million; Other personnel expenses: CHF 24 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 861 million. Variable compensation including Wealth Management Americas financial advisor compensation Expenses recognized in 2015 Expenses deferred to 2016 and later CHF million Related to the performance year 2015 Related to prior performance years Total Related to the performance year 2015 Related to prior performance years Total Non-deferred cash 2,073 (94) 1,980 0 0 0 Deferred compensation awards 461 769 1,230 900 822 1,722 of which: Equity Ownership Plan 261 461 722 524 338 861 of which: Deferred Contingent Capital Plan 172 258 429 343 446 789 of which: Asset Management EOP 28 38 67 34 35 69 of which: Other performance awards 0 12 12 0 3 3 Total variable compensation – performance awards 2,535 675 3,210 900 822 1,722 Replacement payments 11 65 76 72 41 114 Forfeiture credits 0 (86) (86) 0 0 0 Severance payments 157 0 157 0 0 0 Retention plan and other payments 15 102 117 15 52 67 Deferred Contingent Capital Plan: interest expense 0 81 81 160 200 360 Total variable compensation – other 184 162 346 248 293 541 Financial advisor compensation 2,629 187 2,816 776 571 1,347 of which: non-deferred cash 2,460 0 2,460 0 0 0 of which: deferred share-based awards 37 45 82 66 115 182 of which: deferred cash-based awards 132 142 275 710 456 1,166 Compensation commitments with recruited financial advisors 1 43 692 735 940 1,899 2,839 Total Wealth Management Americas: Financial advisor compensation 2,673 879 3,552 1,716 2,470 4,186 Total variable compensation including WMA FA compensation 5,391 1,716 7,108 2 2,864 3,585 6,449 1 Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. 2 Includes CHF 858 million in expenses related to share-based compensation (performance awards: CHF 722 million; other variable compensation: CHF 54 million; Wealth Management Americas financial advisor compensation: CHF 82 million). A further CHF 108 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 26 million, related to role-based allowances; Social security: CHF 61 million; Other personnel expenses: CHF 21 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 858 million. |
Disclosure of number and weighted average exercise prices of UBS share and performance share awards [text block] | Movements in outstanding share and performance share awards granted under the EOP Number of shares 2017 Weighted average grant date fair value (CHF) Number of shares 2016 Weighted average grant date fair value (CHF) Outstanding, at the beginning of the year 512,185 16 427,443 18 Shares awarded during the year 117,082 14 199,755 13 Distributions during the year (212,984) 16 (115,014) 18 Forfeited during the year (11,563) 14 0 0 Outstanding, at the end of the year 404,720 14 512,185 16 of which: shares vested for accounting purposes 132,117 189,953 |
Interests in subsidiaries (Tabl
Interests in subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Interests In Subsidiaries [Line Items] | |
Disclosure Of Significant Investments In Subsidiaries Explanatory | Subsidiaries of UBS Group AG as of 31 December 2017 Company Registered office Share capital in million Equity interest accumulated in % UBS AG Zurich and Basel, Switzerland CHF 385.8 100.0 UBS Business Solutions AG 1 Zurich, Switzerland CHF 1.0 100.0 UBS Group Funding (Switzerland) AG Zurich, Switzerland CHF 0.1 100.0 1 UBS Business Solutions (India) Private Limited and UBS Business Solutions Poland Sp. z o.o. are directly held subsidiaries of UBS Business Solutions AG. Individually significant subsidiaries of UBS AG as of 31 December 2017 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 2,250.0 1 100.0 UBS Asset Management AG Zurich, Switzerland Asset Management CHF 43.2 100.0 UBS Bank USA Salt Lake City, Utah, USA Wealth Management Americas USD 0.0 100.0 UBS Europe SE Frankfurt, Germany Wealth Management EUR 446.0 100.0 UBS Financial Services Inc. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS Limited London, United Kingdom Investment Bank GBP 226.6 100.0 UBS Securities LLC Wilmington, Delaware, USA Investment Bank USD 1,283.1 2 100.0 UBS Switzerland AG Zurich, Switzerland Personal & Corporate Banking CHF 10.0 100.0 1 Comprised of common share capital of USD 1,000 and non-voting preferred share capital of USD 2,250,000,000. 2 Comprised of common share capital of USD 100,000 and non-voting preferred share capital of USD 1,283,000,000. |
UBS AG | |
Disclosure Interests In Subsidiaries [Line Items] | |
Disclosure Of Significant Investments In Subsidiaries Explanatory | Other subsidiaries of UBS AG as of 31 December 2017 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Asset Management (Americas) Inc. Wilmington, Delaware, USA Asset Management USD 0.0 100.0 UBS Asset Management (Australia) Ltd Sydney, Australia Asset Management AUD 20.1 1 100.0 UBS Asset Management (Deutschland) GmbH Frankfurt, Germany Asset Management EUR 7.7 100.0 UBS Asset Management (Hong Kong) Limited Hong Kong, Hong Kong Asset Management HKD 206.0 100.0 UBS Asset Management (Japan) Ltd Tokyo, Japan Asset Management JPY 2,200.0 100.0 UBS Asset Management (Singapore) Ltd Singapore, Singapore Asset Management SGD 4.0 100.0 UBS Asset Management (UK) Ltd London, United Kingdom Asset Management GBP 125.0 100.0 UBS Business Solutions US LLC Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Card Center AG Glattbrugg, Switzerland Personal & Corporate Banking CHF 0.1 100.0 UBS Credit Corp. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS (France) S.A. Paris, France Wealth Management EUR 133.0 100.0 UBS Fund Advisor, L.L.C. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS Fund Management (Luxembourg) S.A. Luxembourg, Luxembourg Asset Management EUR 13.0 100.0 UBS Fund Management (Switzerland) AG Basel, Switzerland Asset Management CHF 1.0 100.0 UBS Hedge Fund Solutions LLC Wilmington, Delaware, USA Asset Management USD 0.1 100.0 UBS (Monaco) S.A. Monte Carlo, Monaco Wealth Management EUR 49.2 100.0 UBS O’Connor LLC Dover, Delaware, USA Asset Management USD 1.0 100.0 UBS Real Estate Securities Inc. Wilmington, Delaware, USA Investment Bank USD 0.0 100.0 UBS Realty Investors LLC Boston, Massachusetts, USA Asset Management USD 9.0 100.0 UBS Securities (Thailand) Ltd Bangkok, Thailand Investment Bank THB 500.0 100.0 UBS Securities Australia Ltd Sydney, Australia Investment Bank AUD 0.3 1 100.0 UBS Securities India Private Limited Mumbai, India Investment Bank INR 140.0 100.0 UBS Securities Japan Co., Ltd. Tokyo, Japan Investment Bank JPY 32,100.0 100.0 UBS Securities Pte. Ltd. Singapore, Singapore Investment Bank SGD 420.4 100.0 UBS South Africa (Proprietary) Limited Sandton, South Africa Investment Bank ZAR 0.0 100.0 UBS UK Properties Limited London, United Kingdom Corporate Center GBP 132.0 100.0 1 Includes a nominal amount relating to redeemable preference shares. |
UBS AG | |
Disclosure Interests In Subsidiaries [Line Items] | |
Disclosure Of Significant Investments In Subsidiaries Explanatory | Individually significant subsidiaries as of 31 December 2017 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 2,250.0 1 100.0 UBS Asset Management AG Zurich, Switzerland Asset Management CHF 43.2 100.0 UBS Bank USA Salt Lake City, Utah, USA Wealth Management Americas USD 0.0 100.0 UBS Europe SE Frankfurt, Germany Wealth Management EUR 446.0 100.0 UBS Financial Services Inc. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS Limited London, United Kingdom Investment Bank GBP 226.6 100.0 UBS Securities LLC Wilmington, Delaware, USA Investment Bank USD 1,283.1 2 100.0 UBS Switzerland AG Zurich, Switzerland Personal & Corporate Banking CHF 10.0 100.0 1 Comprised of common share capital of USD 1,000 and non-voting preferred share capital of USD 2,250,000,000. 2 Comprised of common share capital of USD 100,000 and non-voting preferred share capital of USD 1,283,000,000. |
UBS AG | UBS AG | |
Disclosure Interests In Subsidiaries [Line Items] | |
Disclosure Of Significant Investments In Subsidiaries Explanatory | Other subsidiaries as of 31 December 2017 Company Registered office Primary business division Share capital in million Equity interest accumulated in % UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Asset Management (Americas) Inc. Wilmington, Delaware, USA Asset Management USD 0.0 100.0 UBS Asset Management (Australia) Ltd Sydney, Australia Asset Management AUD 20.1 1 100.0 UBS Asset Management (Deutschland) GmbH Frankfurt, Germany Asset Management EUR 7.7 100.0 UBS Asset Management (Hong Kong) Limited Hong Kong, Hong Kong Asset Management HKD 206.0 100.0 UBS Asset Management (Japan) Ltd Tokyo, Japan Asset Management JPY 2,200.0 100.0 UBS Asset Management (Singapore) Ltd Singapore, Singapore Asset Management SGD 4.0 100.0 UBS Asset Management (UK) Ltd London, United Kingdom Asset Management GBP 125.0 100.0 UBS Business Solutions US LLC Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 UBS Card Center AG Glattbrugg, Switzerland Personal & Corporate Banking CHF 0.1 100.0 UBS Credit Corp. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS (France) SA. Paris, France Wealth Management EUR 133.0 100.0 UBS Fund Advisor, L.L.C. Wilmington, Delaware, USA Wealth Management Americas USD 0.0 100.0 UBS Fund Management (Luxembourg) S.A. Luxembourg, Luxembourg Asset Management EUR 13.0 100.0 UBS Fund Management (Switzerland) AG Basel, Switzerland Asset Management CHF 1.0 100.0 UBS Hedge Fund Solutions LLC Wilmington, Delaware, USA Asset Management USD 0.1 100.0 UBS (Monaco) S.A. Monte Carlo, Monaco Wealth Management EUR 49.2 100.0 UBS O’Connor LLC Dover, Delaware, USA Asset Management USD 1.0 100.0 UBS Real Estate Securities Inc. Wilmington, Delaware, USA Investment Bank USD 0.0 100.0 UBS Realty Investors LLC Boston, Massachusetts, USA Asset Management USD 9.0 100.0 UBS Securities (Thailand) Ltd Bangkok, Thailand Investment Bank THB 500.0 100.0 UBS Securities Australia Ltd Sydney, Australia Investment Bank AUD 0.3 1 100.0 UBS Securities India Private Limited Mumbai, India Investment Bank INR 140.0 100.0 UBS Securities Japan Co., Ltd. Tokyo, Japan Investment Bank JPY 32,100.0 100.0 UBS Securities Pte. Ltd. Singapore, Singapore Investment Bank SGD 420.4 100.0 UBS South Africa (Proprietary) Limited Sandton, South Africa Investment Bank ZAR 0.0 100.0 UBS UK Properties Limited London, United Kingdom Corporate Center GBP 132.0 100.0 1 Includes a nominal amount relating to redeemable preference shares. |
Interests in associates and j98
Interests in associates and joint ventures (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Interests In Associates And Joint Ventures [Line Items] | |
Disclosure of investments in associates and joint ventures [text block] | Investments in associates and joint ventures CHF million 31.12.17 31.12.16 Carrying amount at the beginning of the year 963 954 Additions 3 3 Disposals 0 (2) Share of comprehensive income 98 82 of which: share of net profit 1 75 106 of which: share of other comprehensive income 2 23 (24) Dividends received (51) (50) Impairment (7) 0 Foreign currency translation 12 (23) Carrying amount at the end of the year 1,018 963 of which: associates 989 934 of which: UBS Securities Co. Limited, Beijing 3 401 392 of which: SIX Group AG, Zurich 4 464 426 of which: other associates 124 116 of which: joint ventures 29 29 1 For 2017, consists of CHF 60 million from associates and CHF 15 million from joint ventures. For 2016, consists of CHF 94 million from associates and CHF 12 million from joint ventures. 2 For 2017, consists of CHF 24 million from associates and negative CHF 1 million from joint ventures. For 2016, consists of negative CHF 25 million from associates and CHF 0 million from joint ventures. 3 UBS AG’s equity interest amounts to 24.99%. 4 UBS AG’s equity interest amounts to 17.31%. UBS AG is represented on the Board of Directors. |
UBS AG | |
Disclosure Interests In Associates And Joint Ventures [Line Items] | |
Disclosure of investments in associates and joint ventures [text block] | Investments in associates and joint ventures CHF million 31.12.17 31.12.16 Carrying amount at the beginning of the year 963 954 Additions 3 3 Disposals 0 (2) Share of comprehensive income 98 82 of which: share of net profit 1 75 106 of which: share of other comprehensive income 2 23 (24) Dividends received (51) (50) Impairment (7) 0 Foreign currency translation 12 (23) Carrying amount at the end of the year 1,018 963 of which: associates 989 934 of which: UBS Securities Co. Limited, Beijing 3 401 392 of which: SIX Group AG, Zurich 4 464 426 of which: other associates 124 116 of which: joint ventures 29 29 1 For 2017, consists of CHF 60 million from associates and CHF 15 million from joint ventures. For 2016, consists of CHF 94 million from associates and CHF 12 million from joint ventures. 2 For 2017, consists of CHF 24 million from associates and negative CHF 1 million from joint ventures. For 2016, consists of negative CHF 25 million from associates and CHF 0 million from joint ventures. 3 UBS AG's equity interest amounts to 24.99%. 4 UBS AG's equity interest amounts to 17.31%. UBS AG is represented on the Board of Directors. |
Interests in unconsolidated s99
Interests in unconsolidated structured entities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Interests in unconsolidated structured entities 31.12.17 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Trading portfolio assets 363 308 6,143 6,815 6,815 Positive replacement values 21 68 22 111 111 Loans 0 0 97 97 97 Financial assets designated at fair value 84 66 2 105 255 1,780 Financial assets available for sale 0 3,865 45 3,910 3,910 Other assets 291 29 2 0 320 1,407 Total assets 760 3 4,337 6,412 11,508 Negative replacement values 20 4 53 203 276 14 Total liabilities 20 53 203 276 Assets held by the unconsolidated structured entities in which UBS had an interest (CHF billion) 57 5 78 6 412 7 31.12.16 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Trading portfolio assets 634 394 6,215 7,243 7,243 Positive replacement values 40 76 101 217 217 Loans 0 0 79 79 79 Financial assets designated at fair value 103 83 2 98 284 1,863 Financial assets available for sale 0 3,381 58 3,439 3,439 Other assets 289 37 2 0 327 1,490 Total assets 1,066 3 3,971 6,552 11,589 Negative replacement values 33 4 346 67 446 90 Total liabilities 33 346 67 446 Assets held by the unconsolidated structured entities in which UBS had an interest (CHF billion) 72 5 102 6 334 7 1 For purposes of this disclosure, maximum exposure to loss amounts do not consider the risk-reducing effects of collateral or other credit enhancements. 2 Represents the carrying value of loan commitments, both designated at fair value and held at amortized cost. The maximum exposure to loss for these instruments is equal to the notional amount. 3 As of 31 December 2017, CHF 0.7 billion of the CHF 0.8 billion (31 December 2016: CHF 1.0 billion of the CHF 1.1 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 4 Comprised of credit default swap (CDS) liabilities and other swap liabilities. The maximum exposure to loss for CDS is equal to the sum of the negative carrying value and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 5 Represents principal amount outstanding. 6 Represents the market value of total assets. 7 Represents the net asset value of the investment funds sponsored by UBS and the carrying value of UBS’s interests in the investment funds not sponsored by UBS. |
Sponsored by UBS | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Interests in unconsolidated securitization vehicles 1 31.12.17 CHF million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 84 24 0 10 118 of which: rated investment grade 0 24 24 of which: rated sub-investment grade 84 84 of which: defaulted 10 10 Interests in junior tranches 0 9 0 0 9 of which: rated investment grade 9 9 Total 84 32 0 10 126 of which: Trading portfolio assets 0 32 0 10 43 of which: Financial assets designated at fair value 84 0 0 0 84 Total assets held by the vehicles in which UBS had an interest (CHF billion) 1 10 0 1 12 Not sponsored by UBS Interests in senior tranches 75 6 165 64 311 of which: rated investment grade 75 6 165 64 311 Interests in mezzanine tranches 9 1 0 0 9 of which: rated investment grade 1 1 of which: defaulted 9 9 Interests in junior tranches 1 0 0 0 1 of which: rated sub-investment grade 1 1 Tranche information not available 0 0 0 0 0 of which: rated investment grade 0 0 of which: not rated 0 0 Total 85 7 165 64 321 of which: Trading portfolio assets 85 7 165 64 321 Total assets held by the vehicles in which UBS had an interest (CHF billion) 18 5 20 0 43 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. Interests in unconsolidated securitization vehicles (continued) 1 31.12.16 CHF million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 103 34 0 14 151 of which: rated investment grade 0 34 34 of which: rated sub-investment grade 103 103 of which: defaulted 14 14 Interests in mezzanine tranches 1 0 0 0 1 of which: rated sub-investment grade 1 1 Total 104 34 0 14 152 of which: Trading portfolio assets 1 34 0 14 49 of which: Financial assets designated at fair value 103 0 0 0 103 Total assets held by the vehicles in which UBS had an interest (CHF billion) 2 13 0 1 16 Not sponsored by UBS Interests in senior tranches 165 4 241 125 535 of which: rated investment grade 165 4 241 125 535 Interests in mezzanine tranches 32 0 0 0 32 of which: rated investment grade 29 29 of which: defaulted 3 3 Interests in junior tranches 18 0 0 0 18 of which: rated investment grade 17 17 of which: rated sub-investment grade 1 1 Total 215 4 241 125 585 of which: Trading portfolio assets 215 4 241 125 585 Total assets held by the vehicles in which UBS had an interest (CHF billion) 41 8 5 1 56 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. |
Sponsored by UBS | in which UBS did not have an interest at year-end | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Sponsored unconsolidated structured entities in which UBS did not have an interest at year-end 1 As of or for the year ended 31.12.17 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 2 (9) 0 (7) Net fee and commission income 0 0 40 40 Net trading income (8) (49) 2 (55) Total income (6) (58) 43 (21) Asset information (CHF billion) 10 2 7 3 15 4 As of or for the year ended 31.12.16 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 3 (6) 0 (3) Net fee and commission income 0 0 53 53 Net trading income 2 (158) 29 (128) Total income 4 (165) 82 (78) Asset information (CHF billion) 7 2 6 3 14 4 1 These tables exclude profit attributable to non-controlling interests of CHF 72 million for the year ended 31 December 2017 and CHF 78 million for the year ended 31 December 2016. 2 Represents the amount of assets transferred to the respective securitization vehicles. Of the total amount transferred, CHF 2 billion was transferred by UBS (31 December 2016: CHF 2 billion) and CHF 8 billion was transferred by third parties (31 December 2016: CHF 5 billion). 3 Represents total assets transferred to the respective client vehicles. Of the total amount transferred, CHF 6 billion was transferred by UBS (31 December 2016: CHF 5 billion) and CHF 1 billion was transferred by third parties (31 December 2016: CHF 1 billion). 4 Represents the total net asset value of the respective investment funds. |
UBS AG | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Interests in unconsolidated structured entities 31.12.17 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Trading portfolio assets 363 308 6,143 6,815 6,815 Positive replacement values 21 68 22 111 111 Loans 0 0 97 97 97 Financial assets designated at fair value 84 66 2 0 150 1,675 Financial assets available for sale 0 3,865 45 3,910 3,910 Other assets 291 29 2 0 320 1,407 Total assets 760 3 4,337 6,307 11,403 Negative replacement values 20 4 53 203 276 14 Total liabilities 20 53 203 276 Assets held by the unconsolidated structured entities in which UBS had an interest (CHF billion) 57 5 78 6 412 7 31.12.16 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Maximum exposure to loss 1 Trading portfolio assets 634 394 6,215 7,243 7,243 Positive replacement values 40 76 101 217 217 Loans 0 0 79 79 79 Financial assets designated at fair value 103 83 2 0 186 1,765 Financial assets available for sale 0 3,381 58 3,439 3,439 Other assets 289 37 2 0 327 1,490 Total assets 1,066 3 3,971 6,454 11,491 Negative replacement values 33 4 346 67 446 90 Total liabilities 33 346 67 446 Assets held by the unconsolidated structured entities in which UBS had an interest (CHF billion) 72 5 102 6 334 7 1 For purposes of this disclosure, maximum exposure to loss amounts do not consider the risk-reducing effects of collateral or other credit enhancements. 2 Represents the carrying value of loan commitments, both designated at fair value and held at amortized cost. The maximum exposure to loss for these instruments is equal to the notional amount. 3 As of 31 December 2017, CHF 0.7 billion of the CHF 0.8 billion (31 December 2016: CHF 1.0 billion of the CHF 1.1 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 4 Comprised of credit default swap (CDS) liabilities and other swap liabilities. The maximum exposure to loss for CDS is equal to the sum of the negative carrying value and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 5 Represents principal amount outstanding. 6 Represents the market value of total assets. 7 Represents the net asset value of the investment funds sponsored by UBS and the carrying value of UBS’s interests in the investment funds not sponsored by UBS. |
UBS AG | Sponsored by UBS | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Interests in unconsolidated securitization vehicles 1 31.12.17 CHF million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 84 24 0 10 118 of which: rated investment grade 0 24 24 of which: rated sub-investment grade 84 84 of which: defaulted 10 10 Interests in junior tranches 0 9 0 0 9 of which: rated investment grade 9 9 Total 84 32 0 10 126 of which: Trading portfolio assets 0 32 0 10 43 of which: Financial assets designated at fair value 84 0 0 0 84 Total assets held by the vehicles in which UBS had an interest (CHF billion) 1 10 0 1 12 Not sponsored by UBS Interests in senior tranches 75 6 165 64 311 of which: rated investment grade 75 6 165 64 311 Interests in mezzanine tranches 9 1 0 0 9 of which: rated investment grade 1 1 of which: defaulted 9 9 Interests in junior tranches 1 0 0 0 1 of which: rated sub-investment grade 1 1 Tranche information not available 0 0 0 0 0 of which: rated investment grade 0 0 of which: not rated 0 0 Total 85 7 165 64 321 of which: Trading portfolio assets 85 7 165 64 321 Total assets held by the vehicles in which UBS had an interest (CHF billion) 18 5 20 0 43 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. Interests in unconsolidated securitization vehicles (continued) 1 31.12.16 CHF million, except where indicated Residential mortgage- backed securities Commercial mortgage- backed securities Other asset-backed securities 2 Re-securiti- zation 3 Total Sponsored by UBS Interests in senior tranches 103 34 0 14 151 of which: rated investment grade 0 34 34 of which: rated sub-investment grade 103 103 of which: defaulted 14 14 Interests in mezzanine tranches 1 0 0 0 1 of which: rated sub-investment grade 1 1 Total 104 34 0 14 152 of which: Trading portfolio assets 1 34 0 14 49 of which: Financial assets designated at fair value 103 0 0 0 103 Total assets held by the vehicles in which UBS had an interest (CHF billion) 2 13 0 1 16 Not sponsored by UBS Interests in senior tranches 165 4 241 125 535 of which: rated investment grade 165 4 241 125 535 Interests in mezzanine tranches 32 0 0 0 32 of which: rated investment grade 29 29 of which: defaulted 3 3 Interests in junior tranches 18 0 0 0 18 of which: rated investment grade 17 17 of which: rated sub-investment grade 1 1 Total 215 4 241 125 585 of which: Trading portfolio assets 215 4 241 125 585 Total assets held by the vehicles in which UBS had an interest (CHF billion) 41 8 5 1 56 1 This table excludes receivables and derivative transactions with securitization vehicles. 2 Includes credit card, auto and student loan structures. 3 Includes collateralized debt obligations. |
UBS AG | Sponsored by UBS | in which UBS did not have an interest at year-end | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Sponsored unconsolidated structured entities in which UBS did not have an interest at year-end 1 As of or for the year ended 31.12.17 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 2 (9) 0 (7) Net fee and commission income 0 0 40 40 Net trading income (8) (49) 2 (55) Total income (6) (58) 43 (21) Asset information (CHF billion) 10 2 7 3 15 4 As of or for the year ended 31.12.16 CHF million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income 3 (6) 0 (3) Net fee and commission income 0 0 53 53 Net trading income 2 (158) 29 (128) Total income 4 (165) 82 (78) Asset information (CHF billion) 7 2 6 3 14 4 1 These tables exclude profit attributable to preferred noteholders of CHF 72 million for the year ended 31 December 2017 and CHF 78 million for the year ended 31 December 2016. 2 Represents the amount of assets transferred to the respective securitization vehicles. Of the total amount transferred, CHF 2 billion was transferred by UBS (31 December 2016: CHF 2 billion) and CHF 8 billion was transferred by third parties (31 December 2016: CHF 5 billion). 3 Represents total assets transferred to the respective client vehicles. Of the total amount transferred, CHF 6 billion was transferred by UBS (31 December 2016: CHF 5 billion) and CHF 1 billion was transferred by third parties (31 December 2016: CHF 1 billion). 4 Represents the total net asset value of the respective investment funds. |
Changes in organization and 100
Changes in organization and disposals (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Changes In Organization And Disposals [Line Items] | |
Disclosure of net restructuring expenses [text block] | Net restructuring expenses by business division and Corporate Center unit For the year ended CHF million 31.12.17 31.12.16 31.12.15 Wealth Management 463 447 323 Wealth Management Americas 113 139 137 Personal & Corporate Banking 103 117 101 Asset Management 100 100 82 Investment Bank 359 577 396 Corporate Center 30 78 196 of which: Services 19 57 140 of which: Group ALM 4 0 0 of which: Non-core and Legacy Portfolio 6 21 56 Total net restructuring expenses 1,168 1,458 1,235 of which: personnel expenses 534 751 460 of which: general and administrative expenses 627 695 761 of which: depreciation and impairment of property, equipment and software 7 11 12 of which: amortization and impairment of intangible assets 0 0 2 Net restructuring expenses by personnel expense category For the year ended CHF million 31.12.17 31.12.16 31.12.15 Salaries 346 435 312 Variable compensation – performance awards 34 102 38 Variable compensation – other 98 209 108 Contractors 62 56 46 Social security 8 8 5 Pension and other post-employment benefit plans (29) (75) (65) Other personnel expenses 15 17 15 Total net restructuring expenses: personnel expenses 534 751 460 Net restructuring expenses by general and administrative expense category For the year ended CHF million 31.12.17 31.12.16 31.12.15 Occupancy 75 123 109 Rent and maintenance of IT and other equipment 93 94 31 Communication and market data services 1 1 0 Administration 25 16 6 Marketing and public relations 1 0 0 Travel and entertainment 14 16 17 Professional fees 186 162 187 Outsourcing of IT and other services 240 289 316 Other 1 (8) (5) 95 Total net restructuring expenses: general and administrative expenses 627 695 761 1 Mainly comprised of onerous real estate lease contracts. |
UBS AG | |
Disclosure Changes In Organization And Disposals [Line Items] | |
Disclosure of net restructuring expenses [text block] | Net restructuring expenses by business division and Corporate Center unit For the year ended CHF million 31.12.17 31.12.16 31.12.15 Wealth Management 463 447 323 Wealth Management Americas 113 139 137 Personal & Corporate Banking 103 117 101 Asset Management 100 100 82 Investment Bank 359 577 396 Corporate Center 30 78 196 of which: Services 19 57 140 of which: Group ALM 4 0 0 of which: Non-core and Legacy Portfolio 6 21 56 Total net restructuring expenses 1,168 1,458 1,235 of which: personnel expenses 534 751 460 of which: general and administrative expenses 627 695 761 of which: depreciation and impairment of property, equipment and software 7 11 12 of which: amortization and impairment of intangible assets 0 0 2 Net restructuring expenses by personnel expense category For the year ended CHF million 31.12.17 31.12.16 31.12.15 Salaries 346 435 312 Variable compensation – performance awards 34 102 38 Variable compensation – other 98 209 108 Contractors 62 56 46 Social security 8 8 5 Pension and other post-employment benefit plans (29) (75) (65) Other personnel expenses 15 17 15 Total net restructuring expenses: personnel expenses 534 751 460 Net restructuring expenses by general and administrative expense category For the year ended CHF million 31.12.17 31.12.16 31.12.15 Occupancy 75 123 109 Rent and maintenance of IT and other equipment 93 94 31 Communication and market data services 1 1 0 Administration 25 16 6 Marketing and public relations 1 0 0 Travel and entertainment 14 16 17 Professional fees 186 162 187 Outsourcing of IT and other services 240 289 316 Other 1 (8) (5) 95 Total net restructuring expenses: general and administrative expenses 627 695 761 1 Mainly comprised of onerous real estate lease contracts. |
Operating leases and finance101
Operating leases and finance leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Operating Leases And Finance Leases Table [Line Items] | |
Disclosure Of Finance Lease And Operating Lease By Lessee Explanatory | CHF million 31.12.17 Expenses for operating leases to be recognized in: 2018 666 2019 602 2020 516 2021 429 2022 382 2023 and thereafter 2,013 Subtotal commitments for minimum payments under operating leases 4,608 Less: Sublease rental income commitments 262 Net commitments for minimum payments under operating leases 4,346 |
Disclosure Of Operating Lease Expense Explanatory | CHF million 31.12.17 31.12.16 31.12.15 Gross operating lease expense recognized in the income statement 725 749 743 Sublease rental income 67 78 70 Net operating lease expense recognized in the income statement 658 671 673 |
Disclosure Of Finance Lease And Operating Lease By Lessor Explanatory | Lease receivables CHF million 31.12.17 Total minimum lease payments Unearned finance income Present value 2018 333 22 311 2019–2022 684 36 648 Thereafter 112 3 110 Total 1,129 61 1,069 |
UBS AG | |
Disclosure Of Operating Leases And Finance Leases Table [Line Items] | |
Disclosure Of Finance Lease And Operating Lease By Lessee Explanatory | CHF million 31.12.17 Expenses for operating leases to be recognized in: 2018 652 2019 588 2020 506 2021 422 2022 375 2023 and thereafter 1,984 Subtotal commitments for minimum payments under operating leases 4,526 Less: Sublease rental income commitments 262 Net commitments for minimum payments under operating leases 4,265 |
Disclosure Of Operating Lease Expense Explanatory | CHF million 31.12.17 31.12.16 31.12.15 Gross operating lease expense recognized in the income statement 684 737 741 Sublease rental income 67 78 70 Net operating lease expense recognized in the income statement 617 659 671 |
Disclosure Of Finance Lease And Operating Lease By Lessor Explanatory | Lease receivables CHF million 31.12.17 Total minimum lease payments Unearned finance income Present value 2018 333 22 311 2019–2022 684 36 648 Thereafter 112 3 110 Total 1,129 61 1,069 |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Key management personnel | Remuneration | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Remuneration of key management personnel CHF million 31.12.17 31.12.16 31.12.15 Base salaries and other cash payments 1 25 25 23 Incentive awards – cash 2 15 11 10 Annual incentive award under DCCP 22 22 21 Employer’s contributions to retirement benefit plans 3 3 2 Benefits in kind, fringe benefits (at market value) 2 2 2 Equity-based compensation 3 40 41 42 Total 106 104 99 1 Includes role-based allowances that have been made in line with market practice in response to the EU Capital Requirements Directive of 2013 (CRD IV). 2 Includes immediate and deferred cash. 3 Expenses for shares granted are calculated at grant date of the respective award and allocated over the vesting period, generally for 5 years. Refer to Note 27 for more information. In 2017, 2016 and 2015, equity-based compensation was entirely comprised of EOP awards. |
Key management personnel | Equity holdings | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Equity holdings of key management personnel 31.12.17 31.12.16 Number of stock options from equity participation plans held by non-independent members of the BoD and the GEB members 1 398,867 620,950 Number of shares held by members of the BoD, GEB and parties closely linked to them 2 3,709,539 3,267,911 1 Refer to Note 27 for more information. 2 Excludes shares granted under variable compensation plans with forfeiture provisions. |
Key management personnel | Loans, advances and mortgages | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Loans, advances and mortgages to key management personnel 1 CHF million 2017 2016 Balance at the beginning of the year 41 33 Additions 1 21 Reductions (1) (13) Balance at the end of the year 2 41 41 1 All loans are secured loans. 2 Excludes unused uncommitted credit facilities for two GEB members and one BoD member of CHF 5,196,294 as of 31 December 2017 and for one GEB and one BoD member of CHF 2,684,498 as of 31 December 2016. |
Associates and joint ventures | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Loans to and outstanding receivables from associates and joint ventures CHF million 2017 2016 Carrying value at the beginning of the year 472 476 Additions 82 4 Reductions (3) (8) Carrying value at the end of the year 551 472 of which: unsecured loans 540 461 Other transactions with associates and joint ventures As of or for the year ended CHF million 31.12.17 31.12.16 Payments to associates and joint ventures for goods and services received 177 153 Fees received for services provided to associates and joint ventures 2 3 Commitments and contingent liabilities to associates and joint ventures 4 4 |
UBS AG | Key management personnel | Remuneration | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Remuneration of key management personnel CHF million 31.12.17 31.12.16 31.12.15 Base salaries and other cash payments 1 23 24 21 Incentive awards – cash 2 13 10 9 Annual incentive award under DCCP 20 20 20 Employer’s contributions to retirement benefit plans 2 2 1 Benefits in kind, fringe benefits (at market value) 2 2 2 Equity-based compensation 3 36 38 39 Total 98 97 92 1 Includes role-based allowances that have been made in line with market practice in response to the EU Capital Requirements Directive of 2013 (CRD IV). 2 Includes immediate and deferred cash. 3 Expenses for shares granted are calculated at grant date of the respective award and allocated over the vesting period, generally for 5 years. Refer to Note 27 for more information. In 2017, 2016 and 2015, equity-based compensation was entirely comprised of EOP awards. |
UBS AG | Key management personnel | Equity holdings | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Equity holdings of key management personnel 31.12.17 31.12.16 Number of stock options from equity participation plans held by non-independent members of the BoD and the EB members 1 398,867 620,950 Number of shares held by members of the BoD, EB and parties closely linked to them 2 3,709,539 3,267,911 1 Refer to Note 27 for more information. 2 Excludes shares granted under variable compensation plans with forfeiture provisions. |
UBS AG | Key management personnel | Loans, advances and mortgages | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Loans, advances and mortgages to key management personnel 1 CHF million 2017 2016 Balance at the beginning of the year 33 33 Additions 1 13 Reductions (1) (13) Balance at the end of the year 2 34 33 1 All loans are secured loans. 2 Excludes unused uncommitted credit facilities for two EB members and one BoD member of CHF 5,196,294 as of 31 December 2017 and for one EB and one BoD member of CHF 2,684,498 as of 31 December 2016. |
UBS AG | Associates and joint ventures | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Loans to and outstanding receivables from associates and joint ventures CHF million 2017 2016 Carrying value at the beginning of the year 472 476 Additions 82 4 Reductions (3) (8) Carrying value at the end of the year 551 472 of which: unsecured loans 540 461 Other transactions with associates and joint ventures As of or for the year ended CHF million 31.12.17 31.12.16 Payments to associates and joint ventures for goods and services received 177 153 Fees received for services provided to associates and joint ventures 2 3 Commitments and contingent liabilities to associates and joint ventures 4 4 |
UBS AG | UBS Group AG and other subsidiaries of UBS Group AG | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | CHF million 2017 2016 Receivables Loans 2,152 681 Trading portfolio assets 98 84 Other assets 113 35 Payables Due to customers 1 38,150 26,527 Other liabilities 1,547 1,111 1 Includes Group-internal funding obtained from UBS Group AG and UBS Group Funding (Switzerland) AG of CHF 35 billion as of 31 December 2017 (31 December 2016: CHF 25 billion). |
Invested assets and net new 103
Invested assets and net new money (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Invested Assets And Net New Money [Line Items] | |
Disclosure of invested assets and net new money [text block] | Invested assets and net new money For the year ended CHF billion 31.12.17 31.12.16 Fund assets managed by UBS 330 275 Discretionary assets 1,025 886 Other invested assets 1 1,824 1,649 Total invested assets 1,2 3,179 2,810 of which: double counts 204 176 Net new money 2 104 27 1 Certain account types were corrected during 2017. As a result, invested assets as of 31 December 2016 were corrected by CHF 12 billion. 2 Includes double counts. |
Development of invested assets | Development of invested assets For the year ended CHF billion 31.12.17 31.12.16 Total invested assets at the beginning of the year 1,2 2,810 2,678 Net new money 104 27 Market movements 3 313 98 Foreign currency translation (45) 21 Other effects (3) (14) of which: acquisitions / (divestments) 4 (14) Total invested assets at the end of the year 1,2 3,179 2,810 1 Includes double counts. 2 Certain account types were corrected during 2017. As a result, invested assets as of 31 December 2016 and 31 December 2015 were corrected by CHF 12 billion and CHF 11 billion, respectively. 3 Includes interest and dividend income. |
UBS AG | |
Disclosure Of Invested Assets And Net New Money [Line Items] | |
Disclosure of invested assets and net new money [text block] | Invested assets and net new money For the year ended CHF billion 31.12.17 31.12.16 Fund assets managed by UBS 330 275 Discretionary assets 1,025 886 Other invested assets 1 1,824 1,649 Total invested assets 1,2 3,179 2,810 of which: double counts 204 176 Net new money 2 104 27 1 Certain account types were corrected during 2017. As a result, invested assets as of 31 December 2016 were corrected by CHF 12 billion. 2 Includes double counts. |
Development of invested assets | Development of invested assets For the year ended CHF billion 31.12.17 31.12.16 Total invested assets at the beginning of the year 1,2 2,810 2,678 Net new money 104 27 Market movements 3 313 98 Foreign currency translation (45) 21 Other effects (3) (14) of which: acquisitions / (divestments) 4 (14) Total invested assets at the end of the year 1,2 3,179 2,810 1 Includes double counts. 2 Certain account types were corrected during 2017. As a result, invested assets as of 31 December 2016 and 31 December 2015 were corrected by CHF 12 billion and CHF 11 billion, respectively. 3 Includes interest and dividend income. |
Currency translation rates (Tab
Currency translation rates (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Currency Translation Rates [Line Items] | |
Disclosure of foreign exchange rates [text block] | Spot rate Average rate As of For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.15 1 USD 0.97 1.02 0.98 0.99 0.97 1 EUR 1.17 1.07 1.12 1.09 1.06 1 GBP 1.32 1.26 1.28 1.32 1.47 100 JPY 0.86 0.87 0.88 0.91 0.80 1 Monthly income statement items of foreign operations with a functional currency other than the Swiss franc are translated with month-end rates into Swiss francs. Disclosed average rates for a year represent an average of 12 month-end rates, weighted according to the income and expense volumes of all foreign operations of the Group with the same functional currency for each month. Weighted average rates for individual business divisions may deviate from the weighted average rates for the Group. |
UBS AG | |
Disclosure Currency Translation Rates [Line Items] | |
Disclosure of foreign exchange rates [text block] | Spot rate Average rate 1 As of For the year ended 31.12.17 31.12.16 31.12.17 31.12.16 31.12.15 1 USD 0.97 1.02 0.98 0.99 0.97 1 EUR 1.17 1.07 1.12 1.09 1.06 1 GBP 1.32 1.26 1.28 1.32 1.47 100 JPY 0.86 0.87 0.88 0.91 0.80 1 Monthly income statement items of foreign operations with a functional currency other than the Swiss franc are translated with month-end rates into Swiss francs. Disclosed average rates for a year represent an average of 12 month-end rates, weighted according to the income and expense volumes of all foreign operations with the same functional currency for each month. Weighted average rates for individual business divisions may deviate from the weighted average rates for UBS AG. |
Supplemental guarantor infor105
Supplemental guarantor information required under SEC regulations (Tables) - UBS AG | 12 Months Ended |
Dec. 31, 2017 | |
Supplemental Guarantor Information Required Under SEC Regulations [Line Items] | |
Schedule Of Condensed Income Statement [Table Text Block] | Supplemental guarantor consolidated income statement CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2017 Operating income Interest income 8,632 3,917 2,732 1,742 (2,815) 14,208 Interest expense (7,114) (596) (1,307) (1,434) 2,724 (7,728) Net interest income 1,518 3,321 1,425 308 (91) 6,480 Credit loss (expense) / recovery (135) (22) (4) (5) 39 (128) Net interest income after credit loss expense 1,382 3,299 1,421 303 (53) 6,352 Net fee and commission income 1,564 3,966 8,281 3,449 (47) 17,214 Net trading income 3,325 901 457 220 71 4,974 Other income 4,303 167 419 3,439 (7,388) 939 Total operating income 10,574 8,334 10,577 7,411 (7,417) 29,479 Operating expenses Personnel expenses 4,409 2,020 6,312 1,932 0 14,673 General and administrative expenses 4,830 3,334 3,014 3,087 (5,455) 8,811 Depreciation and impairment of property, equipment and software 652 11 156 108 0 928 Amortization and impairment of intangible assets 8 0 51 11 0 70 Total operating expenses 9,899 5,366 9,532 5,138 (5,455) 24,481 Operating profit / (loss) before tax 675 2,968 1,045 2,273 (1,962) 4,998 Tax expense / (benefit) 448 616 2,800 213 (1) 4,077 Net profit / (loss) 227 2,351 (1,755) 2,059 (1,962) 921 Net profit / (loss) attributable to preferred noteholders 72 0 0 0 0 72 Net profit / (loss) attributable to non-controlling interests 0 0 0 4 0 4 Net profit / (loss) attributable to shareholders 155 2,351 (1,755) 2,056 (1,962) 845 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated income statement CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 UBS Preferred Funding Trust IV & V Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2016 Operating income Interest income 8,500 4,151 2,227 25 1,148 (2,269) 13,782 Interest expense (6,686) (714) (1,135) (919) 2,054 (7,399) Net interest income 1,815 3,438 1,092 25 229 (215) 6,383 Credit loss (expense) / recovery (24) (3) (6) (3) (37) Net interest income after credit loss expense 1,790 3,434 1,086 25 226 (215) 6,346 Net fee and commission income 1,500 3,782 7,873 3,332 (40) 16,447 Net trading income 3,717 780 454 310 (318) 4,943 Other income 8,113 346 576 1,677 (10,027) 685 Total operating income 15,120 8,343 9,988 25 5,545 (10,600) 28,421 Operating expenses Personnel expenses 5,691 2,044 6,243 1,613 0 15,591 General and administrative expenses 5,213 3,507 3,402 2,458 (6,891) 7,690 Depreciation and impairment of property, equipment and software 699 12 184 85 0 980 Amortization and impairment of intangible assets 22 0 60 9 0 91 Total operating expenses 11,625 5,563 9,889 4,165 (6,891) 24,352 Operating profit / (loss) before tax 3,495 2,780 99 25 1,380 (3,710) 4,069 Tax expense / (benefit) 892 589 (1,175) 482 (7) 781 Net profit / (loss) 2,603 2,191 1,274 25 898 (3,703) 3,288 Net profit / (loss) attributable to preferred noteholders 78 0 0 31 0 (31) 78 Net profit / (loss) attributable to non-controlling interests 0 0 0 4 0 4 Net profit / (loss) attributable to shareholders 2,525 2,191 1,274 (6) 894 (3,672) 3,207 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated income statement CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 UBS Preferred Funding Trust IV & V Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2015 Operating income Interest income 9,102 3,039 1,367 63 1,626 (2,020) 13,178 Interest expense (5,885) (545) (501) (1,410) 1,892 (6,449) Net interest income 3,218 2,494 866 63 217 (128) 6,729 Credit loss (expense) / recovery (109) (12) 0 4 0 (117) Net interest income after credit loss expense 3,109 2,482 866 63 220 (128) 6,612 Net fee and commission income 2,738 3,001 7,940 3,586 (81) 17,184 Net trading income 5,031 735 355 331 (756) 5,696 Other income 15,371 120 774 89 (15,243) 1,112 Total operating income 26,249 6,338 9,935 63 4,227 (16,208) 30,605 Operating expenses Personnel expenses 6,800 1,607 6,281 1,265 0 15,954 General and administrative expenses 5,439 2,621 3,785 2,254 (5,880) 8,219 Depreciation and impairment of property, equipment and software 672 11 159 76 0 918 Amortization and impairment of intangible assets 22 0 73 12 0 107 Total operating expenses 12,934 4,239 10,298 3,607 (5,880) 25,198 Operating profit / (loss) before tax 13,315 2,099 (362) 63 619 (10,327) 5,407 Tax expense / (benefit) 1,136 489 (1,200) (1,317) (16) (908) Net profit / (loss) 12,180 1,610 837 63 1,936 (10,313) 6,314 Net profit / (loss) attributable to preferred noteholders 77 0 0 31 0 (31) 77 Net profit / (loss) attributable to non-controlling interests 0 0 0 3 0 3 Net profit / (loss) attributable to shareholders 12,103 1,610 837 32 1,933 (10,281) 6,235 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under Complementary financial information for legal entities and sub-groups at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. |
Condensed Statement Of Comprehensive Income [Table Text Block] | Supplemental guarantor consolidated statement of comprehensive income CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2017 Comprehensive income attributable to shareholders Net profit / (loss) 155 2,351 (1,755) 2,056 (1,962) 845 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (170) 0 (751) 426 (40) (535) Financial assets available for sale, net of tax (6) 2 43 (31) (93) (86) Cash flow hedges, net of tax (465) (157) 0 (1) 1 (621) Total other comprehensive income that may be reclassified to the income statement, net of tax (641) (156) (709) 394 (132) (1,242) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax 275 (22) 41 (14) 25 305 Own credit on financial liabilities designated at fair value, net of tax (313) 0 0 0 0 (313) Total other comprehensive income that will not be reclassified to the income statement, net of tax (38) (22) 41 (14) 25 (8) Total other comprehensive income (679) (177) (668) 380 (107) (1,250) Total comprehensive income attributable to shareholders (524) 2,174 (2,423) 2,436 (2,069) (404) Total comprehensive income attributable to preferred noteholders 423 423 Total comprehensive income attributable to non-controlling interests 5 5 Total comprehensive income (101) 2,174 (2,423) 2,441 (2,069) 23 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated statement of comprehensive income CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 UBS Preferred Funding Trust IV & V Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2016 Comprehensive income attributable to shareholders Net profit / (loss) 2,525 2,191 1,274 (6) 894 (3,672) 3,207 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax 335 0 285 (707) 379 293 Financial assets available for sale, net of tax (22) (33) (8) (18) 6 (73) Cash flow hedges, net of tax (805) 109 0 0 29 (666) Total other comprehensive income that may be reclassified to the income statement, net of tax (491) 77 277 0 (725) 415 (447) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax (651) (54) (59) (36) (25) (824) Own credit on financial liabilities designated at fair value, net of tax (115) (115) Total other comprehensive income that will not be reclassified to the income statement, net of tax (766) (54) (59) 0 (36) (25) (939) Total other comprehensive income (1,257) 23 218 0 (761) 390 (1,386) Total comprehensive income attributable to shareholders 1,268 2,214 1,492 (6) 133 (3,282) 1,820 Total comprehensive income attributable to preferred noteholders 349 349 Total comprehensive income attributable to non-controlling interests 0 3 3 Total comprehensive income attributable to UBS Preferred Funding Trust IV & V 0 Total comprehensive income 1,617 2,214 1,492 (6) 137 (3,282) 2,173 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated statement of comprehensive income CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 UBS Preferred Funding Trust IV & V Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2015 Comprehensive income attributable to shareholders Net profit / (loss) 12,103 1,610 837 32 1,933 (10,281) 6,235 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (11) 0 121 (843) 467 (266) Financial assets available for sale, net of tax (51) 43 (21) (16) (19) (64) Cash flow hedges, net of tax (503) (72) 0 0 57 (518) Total other comprehensive income that may be reclassified to the income statement, net of tax (564) (29) 100 0 (859) 504 (848) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax 701 (337) (71) 27 (15) 304 Total other comprehensive income that will not be reclassified to the income statement, net of tax 701 (337) (71) 0 27 (15) 304 Total other comprehensive income 136 (366) 29 0 (832) 489 (545) Total comprehensive income attributable to shareholders 12,239 1,244 866 32 1,101 (9,792) 5,690 Total comprehensive income attributable to preferred noteholders 18 0 0 0 0 0 18 Total comprehensive income attributable to non-controlling interests 0 0 0 0 1 0 1 Total comprehensive income attributable to UBS Preferred Funding Trust IV & V 0 0 0 40 0 (40) 0 Total comprehensive income 12,257 1,244 866 72 1,102 (9,832) 5,709 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. |
Schedule Of Condensed Balance Sheet [Table Text Block] | Supplemental guarantor consolidated balance sheet CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 Other subsidiaries 2 Elimination entries UBS AG (consolidated) As of 31 December 2017 Assets Cash and balances with central banks 36,552 38,467 3,100 9,656 0 87,775 Due from banks 30,467 3,977 4,712 66,649 (92,112) 13,693 Cash collateral on securities borrowed 9,907 20,972 10,775 6,188 (35,448) 12,393 Reverse repurchase agreements 51,293 13,858 20,676 19,368 (27,955) 77,240 Trading portfolio assets 104,118 1,719 6,720 25,974 (7,723) 130,807 of which: assets pledged as collateral that may be sold or repledged by counterparties 58,524 0 2,303 7,411 (32,877) 35,363 Positive replacement values 114,044 4,123 12,948 21,118 (34,004) 118,229 Cash collateral receivables on derivative instruments 22,346 696 2,129 10,828 (12,565) 23,434 Loans 106,469 184,331 51,743 24,078 (44,903) 321,718 Financial assets designated at fair value 34,097 12,768 3,351 10,820 (2,481) 58,556 Financial assets available for sale 3,607 790 6,495 918 (3,145) 8,665 Financial assets held to maturity 950 8,215 0 0 0 9,166 Investments in subsidiaries and associates 49,632 15 1 27 (48,657) 1,018 Property, equipment and software 6,384 92 979 529 0 7,985 Goodwill and intangible assets 294 0 4,880 1,281 (58) 6,398 Deferred tax assets 1,252 421 5,999 2,110 0 9,783 Other assets 18,157 1,179 11,101 2,456 (3,389) 29,505 Total assets 589,570 291,624 145,611 202,001 (312,442) 916,363 Liabilities Due to banks 24,361 20,728 3,160 51,915 (92,631) 7,533 Cash collateral on securities lent 29,898 1,323 2,243 3,774 (35,448) 1,789 Repurchase agreements 18,264 321 12,681 11,945 (27,955) 15,255 Trading portfolio liabilities 24,358 250 3,877 9,122 (7,145) 30,463 Negative replacement values 111,448 3,675 12,932 22,082 (34,004) 116,134 Cash collateral payables on derivative instruments 27,768 60 2,215 12,768 (12,565) 30,247 Due to customers 118,684 241,313 79,684 54,438 (46,977) 447,141 Financial liabilities designated at fair value 53,532 0 104 3,329 (2,762) 54,202 Debt issued 96,572 8,367 8 514 (711) 104,749 Provisions 1,057 145 1,682 200 0 3,084 Other liabilities 30,430 2,246 10,117 15,625 (3,428) 54,990 Total liabilities 536,372 278,430 128,702 185,711 (263,626) 865,588 Equity attributable to shareholders 53,198 13,194 16,909 16,233 (48,816) 50,718 Equity attributable to non-controlling interests 57 57 Total equity 53,198 13,194 16,909 16,290 (48,816) 50,775 Total liabilities and equity 589,570 291,624 145,610 202,001 (312,442) 916,363 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. Supplemental guarantor consolidated balance sheet CHF million UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 UBS Americas Inc. 2 Other subsidiaries 2 Elimination entries UBS AG (consolidated) As of 31 December 2016 Assets Cash and balances with central banks 40,538 44,528 8,925 13,775 0 107,767 Due from banks 30,008 3,886 3,759 33,420 (57,948) 13,125 Cash collateral on securities borrowed 6,561 6,657 13,173 5,004 (16,284) 15,111 Reverse repurchase agreements 52,782 19,273 14,406 7,507 (27,722) 66,246 Trading portfolio assets 74,172 1,673 4,702 22,729 (6,615) 96,661 of which: assets pledged as collateral that may be sold or repledged by counterparties 39,596 0 1,960 5,850 (17,145) 30,260 Positive replacement values 156,375 5,458 9,496 27,231 (40,149) 158,411 Cash collateral receivables on derivative instruments 22,117 913 2,701 12,068 (11,135) 26,664 Loans 94,506 184,241 50,150 41,199 (63,091) 307,004 Financial assets designated at fair value 35,498 16,416 5,371 11,589 (3,849) 65,024 Financial assets available for sale 8,104 2,046 6,593 3,469 (4,536) 15,676 Financial assets held to maturity 527 8,762 0 0 0 9,289 Investments in subsidiaries and associates 49,904 22 1 27 (48,991) 963 Property, equipment and software 6,961 19 1,075 241 0 8,297 Goodwill and intangible assets 297 0 5,130 1,161 (32) 6,556 Deferred tax assets 1,801 601 9,148 1,595 0 13,144 Other assets 10,645 1,526 9,071 7,241 (3,071) 25,412 Total assets 590,796 296,022 143,702 188,257 (283,424) 935,353 Liabilities Due to banks 27,992 13,204 5,288 32,733 (68,572) 10,645 Cash collateral on securities lent 13,193 1,518 2,549 1,841 (16,284) 2,818 Repurchase agreements 16,944 5,385 2,710 9,295 (27,722) 6,612 Trading portfolio liabilities 15,535 154 3,643 9,780 (6,287) 22,825 Negative replacement values 151,274 4,982 9,491 28,213 (40,149) 153,810 Cash collateral payables on derivative instruments 31,585 109 2,409 12,504 (11,135) 35,472 Due to customers 118,934 248,731 85,702 53,474 (56,641) 450,199 Financial liabilities designated at fair value 54,504 0 1 4,559 (4,047) 55,017 Debt issued 70,558 8,330 145 401 (437) 78,998 Provisions 1,483 186 2,168 312 21 4,169 Other liabilities 31,879 2,212 11,100 18,352 (3,099) 60,443 Total liabilities 533,881 284,811 125,206 171,464 (234,353) 881,009 Equity attributable to shareholders 56,273 11,211 18,496 16,754 (49,072) 53,662 Equity attributable to preferred noteholders 642 0 0 0 0 642 Equity attributable to non-controlling interests 0 0 0 40 0 40 Total equity 56,915 11,211 18,496 16,793 (49,072) 54,343 Total liabilities and equity 590,796 296,022 143,702 188,257 (283,424) 935,353 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. |
Schedule Of Condensed Cash Flow Statement [Table Text Block] | Supplemental guarantor consolidated statement of cash flows CHF million UBS AG 1 UBS Switzerland AG 1 UBS Americas Inc. 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2017 Net cash flow from / (used in) operating activities (34,372) (8,192) (4,859) (4,448) (51,872) Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets (1) (2) (17) (82) (102) Disposal of subsidiaries, associates and intangible assets 2 289 0 0 46 336 Purchase of property, equipment and software (1,032) (83) (291) (94) (1,500) Disposal of property, equipment and software 1 0 53 160 213 Purchase of financial assets available for sale (231) 0 (2,855) (5,362) (8,448) Disposal and redemption of financial assets available for sale 3,385 1,282 2,777 7,473 14,917 Net (purchase) / redemption of financial assets held to maturity (448) 370 0 0 (77) Net cash flow from / (used in) investing activities 1,964 1,567 (333) 2,140 5,338 Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) 24,195 (5) 0 (49) 24,141 Distributions paid on UBS AG shares (2,250) 0 0 0 (2,250) Issuance of long-term debt, including financial liabilities designated at fair value 48,484 622 103 297 49,506 Repayment of long-term debt, including financial liabilities designated at fair value (41,722) (580) (129) (867) (43,299) Dividends paid and repayments of preferred notes (776) 0 0 0 (776) Net changes in non-controlling interests 0 0 0 (5) (5) Net activity related to group internal capital transactions and dividends 1,242 (191) 883 (1,934) 0 Net cash flow from / (used in) financing activities 29,173 (154) 857 (2,558) 27,317 Total cash flow Cash and cash equivalents at the beginning of the year 44,269 46,629 11,892 18,317 121,107 Net cash flow from / (used in) operating, investing and financing activities (3,236) (6,780) (4,335) (4,866) (19,216) Effects of exchange rate differences on cash and cash equivalents (511) 79 (400) 1,096 264 Cash and cash equivalents at the end of the year 3 40,522 39,928 7,157 14,547 102,154 of which: cash and balances with central banks 36,477 38,467 3,100 9,656 87,700 of which: due from banks 2,285 1,455 3,945 4,721 12,406 of which: money market paper 4 1,760 7 112 169 2,049 1 Cash flows generally represent a third-party view from a UBS AG consolidated perspective. 2 Includes dividends received from associates. 3 CHF 2,434 million of cash and cash equivalents were restricted. 4 Money market paper is included in the balance sheet under Trading portfolio assets, Financial investments available for sale and Financial assets designated at fair value. Supplemental guarantor consolidated statement of cash flows CHF million UBS AG 1 UBS Switzerland AG 1 UBS Americas Inc. 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2016 Net cash flow from / (used in) operating activities (26,981) (3,914) 8,979 4,503 (17,413) Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets 0 (3) 0 (23) (26) Disposal of subsidiaries, associates and intangible assets 2 93 0 0 0 93 Purchase of property, equipment and software (1,332) (16) (288) (111) (1,746) Disposal of property, equipment and software 175 0 1 32 209 Purchase of financial assets available for sale (694) (998) (2,792) (2,788) (7,271) Disposal and redemption of financial assets available for sale 24,902 21,729 1,694 5,772 54,097 Net (purchase) / redemption of financial assets held to maturity (527) (8,468) 0 0 (8,996) Net cash flow from / (used in) investing activities 22,616 12,245 (1,384) 2,882 36,359 Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) 8,229 (7) (2,975) 193 5,440 Distributions paid on UBS AG shares (3,434) 0 0 0 (3,434) Issuance of long-term debt, including financial liabilities designated at fair value 31,484 733 196 1,039 33,453 Repayment of long-term debt, including financial liabilities designated at fair value (32,279) (669) (8) (1,126) (34,081) Dividends paid and repayments of preferred notes (1,366) 0 0 0 (1,366) Net changes in non-controlling interests 0 0 0 (5) (5) Net activity related to group internal capital transactions and dividends (1,333) (2,000) 0 3,333 0 Net cash flow from / (used in) financing activities 1,300 (1,943) (2,786) 3,435 6 Total cash flow Cash and cash equivalents at the beginning of the year 47,902 40,246 7,084 7,731 102,962 Net cash flow from / (used in) operating, investing and financing activities (3,065) 6,388 4,808 10,821 18,952 Effects of exchange rate differences on cash and cash equivalents (569) (4) 0 (234) (807) Cash and cash equivalents at the end of the year 3 44,269 46,629 11,892 18,317 121,107 of which: cash and balances with central banks 40,486 44,528 8,925 13,775 107,715 of which: due from banks 2,836 2,095 2,931 4,065 11,927 of which: money market paper 4 946 7 36 477 1,465 1 Cash flows generally represent a third-party view from a UBS AG (consolidated) perspective. As a consequence, the non-consolidated UBS Preferred Funding Trusts IV and V are not presented in this table. For the year ended 31 December 2016, these trusts had cash inflows of CHF 1,317 million from operating activities and an equivalent cash outflow for dividends paid to preferred note holders. 2 Includes dividends received from associates. 3 CHF 2,662 million of cash and cash equivalents were restricted. 4 Money market paper is included in the balance sheet under Trading portfolio assets, Financial investments available for sale and Financial assets designated at fair value. Supplemental guarantor consolidated statement of cash flows CHF million UBS AG 1 UBS Switzerland AG 1 UBS Americas Inc. 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2015 Net cash flow from / (used in) operating activities (1,457) 2,681 (525) 1,298 1,997 Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets (12) 0 1 0 (13) Disposal of subsidiaries, associates and intangible assets 2 464 0 13 0 477 Purchase of property, equipment and software (1,423) (5) (299) (114) (1,841) Disposal of property, equipment and software 503 0 9 35 547 Purchase of financial assets available for sale (66,659) (18,686) (2,722) (13,123) (101,189) Disposal and redemption of financial assets available for sale 51,515 22,501 2,952 16,616 93,584 Net (purchase) / redemption of financial assets held to maturity Net cash flow from / (used in) investing activities (15,613) 3,810 (47) 3,415 (8,434) Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) (5,603) 24 (826) 0 (6,404) Distributions paid on UBS AG shares (2,626) 0 0 0 (2,626) Issuance of long-term debt, including financial liabilities designated at fair value 46,882 772 7 129 47,790 Repayment of long-term debt, including financial liabilities designated at fair value (42,415) (402) (129) (1,274) (44,221) Dividends paid and repayments of preferred notes (108) 0 0 0 (108) Net changes in non-controlling interests 0 0 0 (5) (5) Net activity related to group internal capital transactions and dividends 3 (30,512) 33,293 (114) (2,666) 0 Net cash flow from / (used in) financing activities (34,382) 33,687 (1,062) (3,817) (5,573) Total cash flow Cash and cash equivalents at the beginning of the year 100,662 0 8,960 7,093 116,715 Net cash flow from / (used in) operating, investing and financing activities (51,451) 40,178 (1,634) 896 (12,010) Effects of exchange rate differences on cash and cash equivalents (1,309) 67 (241) (259) (1,742) Cash and cash equivalents at the end of the year 4 47,902 40,246 7,084 7,731 102,962 of which: cash and balances with central banks 45,125 38,701 4,971 2,509 91,306 of which: due from banks 2,072 1,438 2,009 5,213 10,732 of which: money market paper 5 704 107 104 9 924 1 Cash flows generally represent a third-party view from a UBS AG (consolidated) perspective. As a consequence, the non-consolidated UBS Preferred Funding Trusts IV and V are not presented in this table. For the year ended 31 December 2015, these trusts had cash inflows of CHF 77 million from operating activities and an equivalent cash outflow for dividends paid to preferred note holders. 2 Includes dividends received from associates. 3 Includes a transfer of cash and cash equivalents from UBS AG to UBS Switzerland AG of CHF 33,283 million. Refer to “Establishment of UBS Switzerland AG” in the “Legal entity financial and regulatory information” section of the UBS Group AG Annual Report 2015 for more information on the business transfer from UBS AG to UBS Switzerland AG. 4 CHF 3,963 million of cash and cash equivalents were restricted. 5 Money market paper is included in the balance sheet under Trading portfolio assets and Financial investments available for sale. |
2018 Balance sheet presentation
2018 Balance sheet presentation changes (Table) | 12 Months Ended |
Dec. 31, 2017 | |
Balance Sheet [Line Items] | |
Disclosure of 2018 balance sheet presentation upon IFRS 9 adoption [text block] | 2018 balance sheet presentation changes CHF million 31.12.17 31.12.17 Presentation in the 2017 financial statements Revised presentation applicable beginning 2018 Assets Cash and balances at central banks 87,775 87,775 Loans and advances to banks (formerly: Due from banks) 13,739 13,739 Receivables from securities financing transactions (new line) 89,633 Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) 12,393 Reverse repurchase agreements (newly included in Receivables from securities financing transactions) 77,240 Cash collateral receivables on derivative instruments 23,434 23,434 Loans and advances to customers (formerly: Loans) 319,568 318,509 Financial assets held to maturity (superseded) 9,166 Other financial assets measured at amortized cost (new line) 36,861 Total financial assets measured at amortized cost 569,950 Financial assets at fair value held for trading (formerly: Trading portfolio assets) 130,707 126,144 of which: assets pledged as collateral that may be sold or repledged by counterparties 35,363 35,363 Derivative financial instruments (formerly: Positive replacement values) 118,227 118,227 Brokerage receivables (new line, formerly included within Other assets) n/a n/a Financial assets at fair value not held for trading (new line) 58,933 Financial assets designated at fair value 58,933 Total financial assets measured at fair value through profit or loss 303,304 Financial assets available for sale (superseded) 8,665 Financial assets measured at fair value through other comprehensive income (new line) 1 8,665 Investments in associates 1,018 1,018 Property, equipment and software 8,829 8,829 Goodwill and intangible assets 6,398 6,398 Deferred tax assets 9,844 9,844 Other non-financial assets (new line) 7,633 Total non-financial assets 33,722 Other assets (superseded) 29,706 Total assets 915,642 915,642 Liabilities Amounts due to banks 7,533 7,533 Payables from securities financing transactions (new line) 17,044 Cash collateral on securities lent (newly included in Payables from securities financing transactions) 1,789 Repurchase agreements (newly included in Payables from securities financing transactions) 15,255 Cash collateral payables on derivative instruments 30,247 30,247 Customer deposits (formerly: Due to customers) 408,999 408,999 Debt issued measured at amortized cost 139,551 139,551 Other financial liabilities measured at amortized cost (new line) 36,337 Total financial liabilities measured at amortized cost 639,711 Financial liabilities at fair value held for trading (formerly: Trading portfolio liabilities) 30,463 30,463 Derivative financial instruments (formerly: Negative replacement values) 116,133 116,133 Brokerage payables designated at fair value (new line, formerly included within Other liabilities) n/a n/a Financial liabilities designated at fair value (superseded) 54,202 Debt issued designated at fair value (new line) 49,502 Other financial liabilities designated at fair value (new line) 16,223 Total financial liabilities measured at fair value through profit or loss 212,322 Provisions 3,133 3,133 Other non-financial liabilities (new line) 9,205 Total non-financial liabilities 12,338 Other liabilities (superseded) 57,064 Total liabilities 864,371 864,371 Total liabilities and equity 915,642 915,642 1 Consists of debt instruments. |
UBS AG | |
Balance Sheet [Line Items] | |
Disclosure of 2018 balance sheet presentation upon IFRS 9 adoption [text block] | 2018 balance sheet presentation changes CHF million 31.12.17 31.12.17 Presentation in the 2017 financial statements Revised presentation applicable beginning 2018 Assets Cash and balances at central banks 87,775 87,775 Loans and advances to banks (formerly: Due from banks) 13,693 13,693 Receivables from securities financing transactions (new line) 89,633 Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) 12,393 Reverse repurchase agreements (newly included in Receivables from securities financing transactions) 77,240 Cash collateral receivables on derivative instruments 23,434 23,434 Loans and advances to customers (formerly: Loans) 321,718 320,659 Financial assets held to maturity (superseded) 9,166 Other financial assets measured at amortized cost (new line) 36,935 Total financial assets measured at amortized cost 572,129 Financial assets at fair value held for trading (formerly: Trading portfolio assets) 130,807 126,244 of which: assets pledged as collateral that may be sold or repledged by counterparties 35,363 35,363 Derivative financial instruments (formerly: Positive replacement values) 118,229 118,229 Brokerage receivables (new line, formerly included within Other assets) n/a n/a Financial assets at fair value not held for trading (new line) 58,556 Financial assets designated at fair value 58,556 Total financial assets measured at fair value through profit or loss 303,028 Financial assets available for sale (superseded) 8,665 Financial assets measured at fair value through other comprehensive income (new line) 1 8,665 Investments in associates 1,018 1,018 Property, equipment and software 7,985 7,985 Goodwill and intangible assets 6,398 6,398 Deferred tax assets 9,783 9,783 Other non-financial assets (new line) 7,358 Total non-financial assets 32,541 Other assets (superseded) 29,505 Total assets 916,363 916,363 Liabilities Amounts due to banks 7,533 7,533 Payables from securities financing transactions (new line) 17,044 Cash collateral on securities lent (newly included in Payables from securities financing transactions) 1,789 Repurchase agreements (newly included in Payables from securities financing transactions) 15,255 Cash collateral payables on derivative instruments 30,247 30,247 Customer deposits (formerly: Due to customers) 447,141 447,141 Debt issued measured at amortized cost 104,749 104,749 Other financial liabilities measured at amortized cost (new line) 37,133 Total financial liabilities measured at amortized cost 643,847 Financial liabilities at fair value held for trading (formerly: Trading portfolio liabilities) 30,463 30,463 Derivative financial instruments (formerly: Negative replacement values) 116,134 116,134 Brokerage payables designated at fair value (new line, formerly included within Other liabilities) n/a n/a Financial liabilities designated at fair value (superseded) 54,202 Debt issued designated at fair value (new line) 49,502 Other financial liabilities designated at fair value (new line) 16,223 Total financial liabilities measured at fair value through profit or loss 212,323 Provisions 3,084 3,084 Other non-financial liabilities (new line) 6,335 Total non-financial liabilities 9,419 Other liabilities (superseded) 54,990 Total liabilities 865,588 865,588 Total liabilities and equity 916,363 916,363 1 Consists of debt instruments. |
MD&A - Risk management and c107
MD&A - Risk management and control - Credit Risk (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of MDA Risk Management And Control Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.17 Collateral Credit enhancements CHF billion Maximum exposure to credit risk Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 87.1 87.1 Due from banks 2 13.7 0.1 13.6 Cash collateral on securities borrowed 12.4 12.2 0.2 Reverse repurchase agreements 77.2 72.8 4.2 0.2 Cash collateral receivables on derivative instruments 3,4 23.4 12.5 11.0 Loans 5 319.6 16.1 111.4 160.1 15.9 0.0 1.3 14.8 Financial assets held to maturity 9.2 9.2 Other assets 25.8 19.5 6.3 Total financial assets measured at amortized cost 568.4 16.1 216.0 160.1 20.1 12.5 0.0 1.3 142.3 Financial assets measured at fair value on the balance sheet Positive replacement values 4 118.2 4.0 100.2 14.0 Trading portfolio assets – debt instruments 6,7 25.6 25.6 Financial assets designated at fair value – debt instruments 8 58.4 9.8 48.5 Financial assets available for sale – debt instruments 8 7.9 7.9 Total financial assets measured at fair value 210.1 0.0 13.8 0.0 0.0 100.2 0.0 0.0 96.1 Total maximum exposure to credit risk reflected on the balance sheet 778.5 16.1 229.8 160.1 20.1 112.7 0.0 1.3 238.4 Guarantees 9 18.8 1.0 2.1 0.2 1.2 3.0 11.3 Loan commitments 9 39.1 2.8 1.1 9.5 1.0 1.4 23.3 Forward starting transactions, reverse repurchase and securities borrowing agreements 12.7 12.4 0.3 Total maximum exposure to credit risk not reflected on the balance sheet 70.6 1.0 17.4 1.2 10.7 0.0 1.0 4.4 34.8 Total 849.1 17.2 247.1 161.3 30.8 112.7 1.1 5.8 273.2 Maximum exposure to credit risk (continued) 31.12.16 Maximum exposure to credit risk Collateral Credit enhancements CHF billion Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 107.1 107.1 Due from banks 2 13.2 13.2 Cash collateral on securities borrowed 15.1 14.8 0.3 Reverse repurchase agreements 66.2 62.5 3.2 0.5 Cash collateral receivables on derivative instruments 3,4 26.7 15.1 11.5 Loans 5 306.3 17.4 99.6 158.2 14.6 0.1 1.8 14.6 Financial assets held to maturity 9.3 9.3 Other assets 18.6 10.0 8.7 Total financial assets measured at amortized cost 562.5 17.4 186.9 158.2 17.7 15.1 0.1 1.8 165.2 Financial assets measured at fair value on the balance sheet Positive replacement values 4 158.4 5.3 134.5 18.6 Trading portfolio assets – debt instruments 6,7 21.8 21.8 Financial assets designated at fair value – debt instruments 8 64.8 2.6 0.6 61.6 Financial assets available for sale – debt instruments 8 14.9 14.9 Total financial assets measured at fair value 259.9 0.0 7.9 0.0 0.0 134.5 0.6 0.0 116.9 Total maximum exposure to credit risk reflected on the balance sheet 822.4 17.4 194.9 158.2 17.7 149.6 0.7 1.8 282.1 Guarantees 9 16.7 1.4 2.0 0.2 1.2 0.1 3.0 8.8 Loan commitments 9 54.4 0.1 3.9 1.0 9.5 4.8 2.0 33.1 Forward starting transactions, reverse repurchase and securities borrowing agreements 10.2 10.2 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 81.3 1.5 16.1 1.1 10.6 0.0 4.9 5.1 41.9 Total 903.7 18.9 210.9 159.4 28.4 149.6 5.7 6.8 324.0 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 Due from banks includes amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. 3 Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. 4 The amount shown in the netting column represents the netting potential not recognized on the balance sheet. Refer to Note 24 for more information. 5 Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. In 2017, we further aligned our collateral allocation processes within Wealth Management Americas to prioritize collateral mainly according to its liquidity profile. This change resulted in increases in loans secured by cash and decreases in loans secured by securities of CHF 4.5 billion. 6 These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. 7 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 8 Does not include investment fund units. Financial assets designated at fair value collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 9 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to the “Treasury management” section of this report for more information. |
Internal UBS rating scale and mapping of external ratings | Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
Total past due but not impaired | |
Disclosure Of MDA Risk Management And Control Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Past due but not impaired loans CHF million 31.12.17 31.12.16 1–10 days 126 54 11–30 days 108 113 31–60 days 126 68 61–90 days 192 10 >90 days 507 641 of which: mortgage loans 336 1 542 1 Total 1,059 887 1 Total mortgage loans IFRS carrying value was CHF 153,729 million (31 December 2016: CHF 153,006 million). |
Total impaired financial instruments | |
Disclosure Of MDA Risk Management And Control Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Impaired financial instruments by type CHF million Gross impaired financial instruments Allowances and provisions Estimated liquidation proceeds of collateral 1 Net impaired financial instruments 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Loans (including amounts due from banks) 1,076 975 (661) (599) (206) (161) 210 215 Guarantees and loan commitments 199 260 (33) (54) (5) (10) 161 195 Total impaired financial instruments 1,275 2 1,235 (694) 2 (653) (210) (171) 371 411 1 Does not include oil and gas reserves related to reserve-based lending. 2 Includes CHF 13 million in collective loan loss allowances (31 December 2016: CHF 12 million). Does not include exposures within Other assets of CHF 352 million, with associated allowances of CHF 19 million. |
UBS AG | |
Disclosure Of MDA Risk Management And Control Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.17 Collateral Credit enhancements CHF billion Maximum exposure to credit risk Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 87.1 87.1 Due from banks 2 13.7 0.1 13.6 Cash collateral on securities borrowed 12.4 12.2 0.2 Reverse repurchase agreements 77.2 72.8 4.2 0.2 Cash collateral receivables on derivative instruments 3,4 23.4 12.5 11.0 Loans 5 321.7 17.9 111.4 160.1 15.9 0.0 1.3 15.1 Financial assets held to maturity 9.2 9.2 Other assets 25.8 19.5 6.3 Total financial assets measured at amortized cost 570.6 17.9 216.0 160.1 20.1 12.5 0.0 1.3 142.7 Financial assets measured at fair value on the balance sheet Positive replacement values 4 118.2 4.0 100.2 14.0 Trading portfolio assets – debt instruments 6,7 25.7 25.7 Financial assets designated at fair value – debt instruments 8 58.4 9.8 48.5 Financial assets available for sale – debt instruments 8 7.9 7.9 Total financial assets measured at fair value 210.2 0.0 13.8 0.0 0.0 100.2 0.0 0.0 96.2 Total maximum exposure to credit risk reflected on the balance sheet 780.8 17.9 229.8 160.1 20.1 112.7 0.0 1.3 238.9 Guarantees 9 18.8 1.0 2.1 0.2 1.2 3.0 11.3 Loan commitments 9 39.1 2.8 1.1 9.5 1.0 1.4 23.3 Forward starting transactions, reverse repurchase and securities borrowing agreements 12.7 12.4 0.2 Total maximum exposure to credit risk not reflected on the balance sheet 70.6 1.0 17.4 1.2 10.7 0.0 1.0 4.4 34.8 Total 851.4 18.9 247.1 161.3 30.8 112.7 1.1 5.8 273.7 Maximum exposure to credit risk (continued) 31.12.16 Collateral Credit enhancements CHF billion Maximum exposure to credit risk Cash collateral received Collateral- ized by securities Secured by real estate Other collateral 1 Netting Credit derivative contracts Guarantees Exposure to credit risk after collateral and credit enhancements Financial assets measured at amortized cost on the balance sheet Balances with central banks 107.1 107.1 Due from banks 2 13.1 13.1 Cash collateral on securities borrowed 15.1 14.8 0.3 Reverse repurchase agreements 66.2 62.5 3.2 0.5 Cash collateral receivables on derivative instruments 3,4 26.7 15.1 11.5 Loans 5 307.0 17.9 99.6 158.2 14.6 0.1 1.8 14.8 Financial assets held to maturity 9.3 9.3 Other assets 18.6 10.0 8.7 Total financial assets measured at amortized cost 563.2 17.9 186.9 158.2 17.7 15.1 0.1 1.8 165.3 Financial assets measured at fair value on the balance sheet Positive replacement values 4 158.4 5.3 134.5 18.6 Trading portfolio assets – debt instruments 6,7 21.9 21.9 Financial assets designated at fair value – debt instruments 8 64.8 2.6 0.6 61.6 Financial assets available for sale – debt instruments 8 14.9 14.9 Total financial assets measured at fair value 260.0 0.0 7.9 0.0 0.0 134.5 0.6 0.0 117.0 Total maximum exposure to credit risk reflected on the balance sheet 823.2 17.9 194.9 158.2 17.7 149.6 0.7 1.8 282.3 Guarantees 9 16.7 1.4 2.0 0.2 1.2 0.1 3.0 8.8 Loan commitments 9 54.4 0.1 3.9 1.0 9.5 4.8 2.0 33.1 Forward starting transactions, reverse repurchase and securities borrowing agreements 10.2 10.2 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 81.3 1.5 16.1 1.1 10.6 0.0 4.9 5.1 41.9 Total 904.5 19.4 210.9 159.4 28.4 149.6 5.7 6.8 324.3 1 Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. 2 Due from banks includes amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. 3 Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. 4 The amount shown in the netting column represents the netting potential not recognized on the balance sheet. Refer to Note 24 for more information. 5 Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. In 2017, we further aligned our collateral allocation processes within Wealth Management Americas to prioritize collateral mainly according to its liquidity profile. This change resulted in increases in loans secured by cash and decreases in loans secured by securities of CHF 4.5 billion. 6 These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. 7 Does not include debt instruments held for unit-linked investment contracts and investment fund units. 8 Does not include investment fund units. Financial assets designated at fair value collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 9 The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to the “Treasury management” section of this report for more information. |
Internal UBS rating scale and mapping of external ratings | Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
UBS AG | Total past due but not impaired | |
Disclosure Of MDA Risk Management And Control Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Past due but not impaired loans CHF million 31.12.17 31.12.16 1–10 days 126 54 11–30 days 108 113 31–60 days 126 68 61–90 days 192 10 >90 days 507 641 of which: mortgage loans 336 1 542 1 Total 1,059 887 1 Total mortgage loans IFRS carrying value was CHF 153,729 million (31 December 2016: CHF 153,006 million). |
UBS AG | Total impaired financial instruments | |
Disclosure Of MDA Risk Management And Control Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Impaired financial instruments by type CHF million Gross impaired financial instruments Allowances and provisions Estimated liquidation proceeds of collateral 1 Net impaired financial instruments 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 31.12.17 31.12.16 Loans (including amounts due from banks) 1,076 975 (661) (599) (206) (161) 210 215 Guarantees and loan commitments 199 260 (33) (54) (5) (10) 161 195 Total impaired financial instruments 1,275 2 1,235 (694) 2 (653) (210) (171) 371 411 1 Does not include oil and gas reserves related to reserve-based lending. 2 Includes CHF 13 million in collective loan loss allowances (31 December 2016: CHF 12 million). Does not include exposures within Other assets of CHF 352 million, with associated allowances of CHF 19 million. |
MD&A - Risk management and c108
MD&A - Risk management and control - Market Risk (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure MDARisk Management And Control Market Risk [Line Items] | |
Disclosure of detailed information about management value-at-risk [text block] | Management value-at-risk (1-day, 95% confidence, 5 years of historical data) by business division and Corporate Center unit and general market risk type 1 For the year ended 31.12.17 CHF million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 6 4 1 0 Max. 14 12 8 5 6 Average 6 9 6 2 2 31.12.17 4 8 8 3 2 Total management VaR, Group 5 18 11 10 Average (per business division and risk type) Wealth Management 0 0 0 0 0 0 0 0 0 Wealth Management Americas 0 1 1 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 17 9 8 6 7 5 2 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 8 6 4 0 5 2 1 0 CC – Non-core and Legacy Portfolio 3 5 3 3 1 2 2 0 0 Diversification effect 2,3 (8) (6) (1) (6) (4) (1) 0 For the year ended 31.12.16 CHF million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 9 3 1 0 Max. 15 15 6 5 2 Average 5 11 4 3 1 31.12.16 4 11 5 2 1 Total management VaR, Group 8 18 11 11 Average (per business division and risk type) Wealth Management 0 0 0 0 0 0 0 0 0 Wealth Management Americas 0 1 0 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 5 18 9 8 5 8 3 3 1 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 5 9 7 6 0 7 1 1 0 CC – Non-core and Legacy Portfolio 3 5 4 4 0 4 2 1 0 Diversification effect 2,3 (10) (8) 0 (9) (3) (1) 0 1 Statistics at individual levels may not be summed to deduce the corresponding aggregate figures. The minima and maxima for each level may well occur on different days, and likewise, the VaR for each business line or risk type, being driven by the extreme loss tail of the corresponding distribution of simulated profits and losses for that business line or risk type, may well be driven by different days in the historical time series, rendering invalid the simple summation of figures to arrive at the aggregate total. 2 Difference between the sum of the standalone VaR for the business divisions and Corporate Center units and the VaR for the Group as a whole. 3 As the minimum and maximum occur on different days for different business divisions and Corporate Center, it is not meaningful to calculate a portfolio diversification effect. |
Disclosure of interest rate sensitivity - banking book [text block] | Interest rate sensitivity – banking book 1 31.12.17 CHF million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (31.8) (31.8) 1.0 97.7 191.2 EUR (142.0) (90.5) 0.2 15.2 31.1 GBP (57.6) (55.4) 0.1 11.2 21.3 USD 26.6 14.4 (1.3) (135.1) (280.6) Other 4.4 0.8 0.0 5.0 10.3 Total effect on fair value of interest rate-sensitive banking book positions (200.4) (162.5) 0.0 (6.0) (26.7) of which: Wealth Management Americas 144.8 59.1 (1.8) (175.5) (362.3) of which: Investment Bank 32.9 18.3 (0.2) (15.4) (30.8) of which: CC – Group ALM (272.4) (188.1) 1.4 138.6 279.8 of which: CC – Non-core and Legacy Portfolio (106.2) (52.1) 0.5 46.6 87.3 31.12.16 CHF million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (13.0) (13.0) 0.5 44.8 89.3 EUR (109.0) (91.9) 0.0 (2.5) (2.6) GBP (184.5) (103.0) (0.1) (9.9) (27.7) USD 823.2 358.9 (3.4) (347.2) (704.3) Other 0.5 (1.7) 0.0 (3.3) (6.3) Total effect on fair value of interest rate-sensitive banking book positions 517.1 149.4 (3.1) (318.1) (651.6) of which: Wealth Management Americas 730.5 325.8 (2.9) (286.4) (583.8) of which: Investment Bank 26.3 14.3 (0.1) (12.7) (25.9) of which: CC – Group ALM (238.8) (192.3) 0.0 (10.6) (24.2) of which: CC – Non-core and Legacy Portfolio (1.2) 1.2 (0.1) (7.3) (15.6) 1 Does not include interest rate sensitivities for credit valuation adjustments on monoline credit protection, US and non-US reference-linked notes. |
UBS AG | |
Disclosure MDARisk Management And Control Market Risk [Line Items] | |
Disclosure of detailed information about management value-at-risk [text block] | Management value-at-risk (1-day, 95% confidence, 5 years of historical data) by business division and Corporate Center unit and general market risk type 1 For the year ended 31.12.17 CHF million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 6 4 1 0 Max. 14 12 8 5 6 Average 6 9 6 2 2 31.12.17 4 8 8 3 2 Total management VaR, Group 5 18 11 10 Average (per business division and risk type) Wealth Management 0 0 0 0 0 0 0 0 0 Wealth Management Americas 0 1 1 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 4 17 9 8 6 7 5 2 2 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 3 8 6 4 0 5 2 1 0 CC – Non-core and Legacy Portfolio 3 5 3 3 1 2 2 0 0 Diversification effect 2,3 (8) (6) (1) (6) (4) (1) 0 For the year ended 31.12.16 CHF million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 1 9 3 1 0 Max. 15 15 6 5 2 Average 5 11 4 3 1 31.12.16 4 11 5 2 1 Total management VaR, Group 8 18 11 11 Average (per business division and risk type) Wealth Management 0 0 0 0 0 0 0 0 0 Wealth Management Americas 0 1 0 1 0 1 1 0 0 Personal & Corporate Banking 0 0 0 0 0 0 0 0 0 Asset Management 0 0 0 0 0 0 0 0 0 Investment Bank 5 18 9 8 5 8 3 3 1 CC – Services 0 0 0 0 0 0 0 0 0 CC – Group ALM 5 9 7 6 0 7 1 1 0 CC – Non-core and Legacy Portfolio 3 5 4 4 0 4 2 1 0 Diversification effect 2,3 (10) (8) 0 (9) (3) (1) 0 1 Statistics at individual levels may not be summed to deduce the corresponding aggregate figures. The minima and maxima for each level may well occur on different days, and likewise, the VaR for each business line or risk type, being driven by the extreme loss tail of the corresponding distribution of simulated profits and losses for that business line or risk type, may well be driven by different days in the historical time series, rendering invalid the simple summation of figures to arrive at the aggregate total. 2 Difference between the sum of the standalone VaR for the business divisions and Corporate Center units and the VaR for the Group as a whole. 3 As the minimum and maximum occur on different days for different business divisions and Corporate Center, it is not meaningful to calculate a portfolio diversification effect. |
Disclosure of interest rate sensitivity - banking book [text block] | Interest rate sensitivity – banking book 1 31.12.17 CHF million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (31.8) (31.8) 1.0 97.7 191.2 EUR (142.0) (90.5) 0.2 15.2 31.1 GBP (57.6) (55.4) 0.1 11.2 21.3 USD 26.6 14.4 (1.3) (135.1) (280.6) Other 4.4 0.8 0.0 5.0 10.3 Total effect on fair value of interest rate-sensitive banking book positions (200.4) (162.5) 0.0 (6.0) (26.7) of which: Wealth Management Americas 144.8 59.1 (1.8) (175.5) (362.3) of which: Investment Bank 32.9 18.3 (0.2) (15.4) (30.8) of which: CC – Group ALM (272.4) (188.1) 1.4 138.6 279.8 of which: CC – Non-core and Legacy Portfolio (106.2) (52.1) 0.5 46.6 87.3 31.12.16 CHF million –200 bps –100 bps +1 bp +100 bps +200 bps CHF (13.0) (13.0) 0.5 44.8 89.3 EUR (109.0) (91.9) 0.0 (2.5) (2.6) GBP (184.5) (103.0) (0.1) (9.9) (27.7) USD 823.2 358.9 (3.4) (347.2) (704.3) Other 0.5 (1.7) 0.0 (3.3) (6.3) Total effect on fair value of interest rate-sensitive banking book positions 517.1 149.4 (3.1) (318.1) (651.6) of which: Wealth Management Americas 730.5 325.8 (2.9) (286.4) (583.8) of which: Investment Bank 26.3 14.3 (0.1) (12.7) (25.9) of which: CC – Group ALM (238.8) (192.3) 0.0 (10.6) (24.2) of which: CC – Non-core and Legacy Portfolio (1.2) 1.2 (0.1) (7.3) (15.6) 1 Does not include interest rate sensitivities for credit valuation adjustments on monoline credit protection, US and non-US reference-linked notes. |
MD&A - Capital management (Tabl
MD&A - Capital management (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of MDA Capital Management [Line Items] | |
Disclosure of reconciliation IFRS equity to Swiss SRB CET1 capital [text block] | Reconciliation of IFRS equity to Swiss SRB common equity tier 1 capital Swiss SRB, including transitional arrangements (phase-in) Swiss SRB as of 1.1.20 (fully applied) CHF million 31.12.17 31.12.16 31.12.17 31.12.16 Total IFRS equity 51,271 54,302 51,271 54,302 Equity attributable to non-controlling interests (57) (682) (57) (682) Deferred tax assets recognized for tax loss carry-forwards 1 (4,637) (5,042) (5,797) (8,403) Deferred tax assets on temporary differences, excess over threshold (489) (741) (857) (1,835) Goodwill, net of tax 1,2 (5,183) (3,959) (6,479) (6,599) Intangible assets, net of tax (214) (241) (214) (241) Compensation-related components (not recognized in net profit) (1,620) (1,589) (1,620) (1,589) Expected losses on advanced internal ratings-based portfolio less general provisions (634) (356) (634) (356) Unrealized (gains) / losses from cash flow hedges, net of tax (351) (972) (351) (972) Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values 133 (294) 133 (294) Unrealized gains related to financial assets available for sale, net of tax (193) (262) (193) (262) Prudential valuation adjustments (59) (68) (59) (68) Consolidation scope (44) (129) (44) (129) Accruals for proposed dividends to shareholders (2,438) (2,250) (2,438) (2,250) Other 10 71 10 71 Total common equity tier 1 capital 35,494 37,788 32,671 30,693 1 As of 31 December 2017, the phase-in deduction applied was 80%; as of 31 December 2016, the phase-in deduction applied was 60%. 2 Includes goodwill related to significant investments in financial institutions of CHF 350 million (31 December 2016: CHF 342 million). |
UBS AG | |
Disclosure Of MDA Capital Management [Line Items] | |
Disclosure of reconciliation IFRS equity to Swiss SRB CET1 capital [text block] | Reconciliation of IFRS equity to Swiss SRB common equity tier 1 capital (UBS Group AG vs UBS AG consolidated) As of 31.12.17 Swiss SRB, including transitional arrangements (phase-in) Swiss SRB as of 1.1.20 (fully applied) CHF million UBS Group AG (consolidated) UBS AG (consolidated) Differences UBS Group AG (consolidated) UBS AG (consolidated) Differences Total IFRS equity 51,271 50,775 496 51,271 50,775 496 Equity attributable to preferred noteholders and non-controlling interests (57) (57) 0 (57) (57) 0 Deferred tax assets recognized for tax loss carry-forwards (4,637) (4,637) 0 (5,797) (5,797) 0 Deferred tax assets on temporary differences, excess over threshold (489) (403) (86) (857) (749) (108) Goodwill, net of tax (5,183) (5,183) 0 (6,479) (6,479) 0 Intangible assets, net of tax (214) (214) 0 (214) (214) 0 Compensation-related components (not recognized in net profit) (1,620) (1,620) (1,620) (1,620) Expected losses on advanced internal ratings-based portfolio less general provisions (634) (634) 0 (634) (634) 0 Unrealized (gains) / losses from cash flow hedges, net of tax (351) (351) 0 (351) (351) 0 Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values 133 133 0 133 133 0 Unrealized gains related to financial assets available for sale, net of tax (193) (193) 0 (193) (193) 0 Prudential valuation adjustments (59) (59) 0 (59) (59) 0 Consolidation scope (44) (44) 0 (44) (44) 0 Accruals for proposed dividends to shareholders (2,438) (3,065) 627 (2,438) (3,065) 627 Other 10 (26) 36 10 (26) 36 Total common equity tier 1 capital 35,494 36,042 (548) 32,671 33,240 (569) |
Significant accounting polic110
Significant accounting policies (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Significant Accounting Policies [Line Items] | |
Date of authorisation for issue of financial statements | Mar. 8, 2018 |
Threshold percentage for determining whether unrealized loss on equity securities is other-than-temporary | 20.00% |
Threshold period for determining whether unrealized loss on equity securities is other-than-temporary (in months) | 6 months |
The date of adoption of IFRS 9 own credit presentation requirements | Jan. 1, 2016 |
Equity method of accounting, low end of range of voting interest (as a percent) | 20.00% |
Equity method of accounting, high end of range of voting interest (as a percent) | 50.00% |
Useful lives, intangible assets with a finite useful life | not exceeding 20 years |
Min. | |
Significant Accounting Policies [Line Items] | |
Criteria for hedge accounting effectiveness | 80.00% |
Max. | |
Significant Accounting Policies [Line Items] | |
Criteria for hedge accounting effectiveness | 125.00% |
UBS AG [Member] | |
Significant Accounting Policies [Line Items] | |
Date of authorisation for issue of financial statements | Mar. 8, 2018 |
Threshold percentage for determining whether unrealized loss on equity securities is other-than-temporary | 20.00% |
Threshold period for determining whether unrealized loss on equity securities is other-than-temporary (in months) | 6 months |
The date of adoption of IFRS 9 own credit presentation requirements | Jan. 1, 2016 |
Equity method of accounting, low end of range of voting interest (as a percent) | 20.00% |
Equity method of accounting, high end of range of voting interest (as a percent) | 50.00% |
Useful lives, intangible assets with a finite useful life | not exceeding 20 years |
UBS AG [Member] | Min. | |
Significant Accounting Policies [Line Items] | |
Criteria for hedge accounting effectiveness | 80.00% |
UBS AG [Member] | Max. | |
Significant Accounting Policies [Line Items] | |
Criteria for hedge accounting effectiveness | 125.00% |
Significant accounting polic111
Significant accounting policies - Useful lives (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Properties, excluding land | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 67 years |
IT hardware and communication | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 7 years |
Software | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 10 years |
Other machines and equipment | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 10 years |
Leasehold improvements | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 20 years |
UBS AG | Properties, excluding land | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 67 years |
UBS AG | IT hardware and communication | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 7 years |
UBS AG | Software | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 10 years |
UBS AG | Other machines and equipment | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 10 years |
UBS AG | Leasehold improvements | |
Disclosure Of Property Equipment And Software [Line Items] | |
Maximum useful lives | 20 years |
Changes in accounting polici112
Changes in accounting policies, comparability and adjustments (Narrative) (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Changes In Accounting Policies [Line Items] | |||
Interest income | SFr 14,193 | SFr 13,787 | SFr 13,177 |
Interest expense | 7,665 | 7,373 | 6,445 |
Increase (decrease) due to changes in accounting policy: Presentation of interest income and interest expense on derivatives designated as hedging instruments | |||
Changes In Accounting Policies [Line Items] | |||
Interest income | (530) | ||
Interest expense | SFr (530) | ||
Amendments to IAS 7, Statement of Cash Flows | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | UBS adopted amendments to IAS 7, Statement of Cash Flows, in 2017 and now separately discloses the drivers of changes in financial liabilities arising from financing activities, including changes arising from cash flows and non-cash changes, in its statement of cash flows. | ||
Amendments to IAS 12, Income Taxes | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | In 2017, UBS adopted amendments to IAS 12, Income Taxes, that clarify how to account for deferred tax assets related to debt instruments measured at fair value. The adoption of these amendments did not have a material impact on the Group’s financial statements. | ||
UBS AG | |||
Changes In Accounting Policies [Line Items] | |||
Interest income | SFr 14,208 | 13,782 | 13,178 |
Interest expense | 7,728 | SFr 7,399 | SFr 6,449 |
UBS AG | Increase (decrease) due to changes in accounting policy: Presentation of interest income and interest expense on derivatives designated as hedging instruments | |||
Changes In Accounting Policies [Line Items] | |||
Interest income | (530) | ||
Interest expense | SFr (530) | ||
UBS AG | Amendments to IAS 7, Statement of Cash Flows | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | UBS adopted amendments to IAS 7, Statement of Cash Flows, in 2017 and now separately discloses the drivers of changes in financial liabilities arising from financing activities, including changes arising from cash flows and non-cash changes, in its statement of cash flows. | ||
UBS AG | Amendments to IAS 12, Income Taxes | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | In 2017, UBS adopted amendments to IAS 12, Income Taxes, that clarify how to account for deferred tax assets related to debt instruments measured at fair value. The adoption of these amendments did not have a material impact on the Group’s financial statements. |
IFRSs and interpretations to113
IFRSs and interpretations to be adopted and other adjustments (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
IFRS 9, Financial Instruments | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2018 |
Discussion of impact that initial application of new IFRS is expected to have on financial | In line with transitional provisions in IFRS 9, UBS will recognize an estimated pre-tax transition impact of CHF 0.7 billion, as well as a tax credit of CHF 0.1 billion, resulting in a net reduction of CHF 0.6 billion in UBS’s IFRS consolidated equity. Approximately half of this amount is attributable to the classification and measurement changes, arising predominantly from the change in measurement basis of certain financial assets that no longer qualify for amortized cost accounting due to their cash flow characteristics. The remainder of the reduction results from recognizing expected credit losses on all in-scope transactions, with the majority of the impact driven by the private and commercial mortgage portfolio in Switzerland within the Group’s Personal & Corporate Banking division. As permitted by IFRS 9, UBS will not restate prior-period data. |
IFRS 15, Revenue from Contracts with Customers | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2018 |
Discussion of impact that initial application of new IFRS is expected to have on financial | UBS will adopt the standard on a modified retrospective basis that does not require comparatives to be restated. Instead, the cumulative effect of initially applying the standard will be recognized as an adjustment to the opening balance of retained earnings. The transition adjustment will not be material. IFRS 15 will result in a deferral of some performance-based fees in Asset Management and research revenues in the Investment Bank. However, the impact on Group’s revenues is not expected to be material. UBS will also present certain fee and commission income and expense on a gross basis, rather than net basis, if UBS is acting as a principal. Fee and commission income will be reported in the income statement separately from Fee and commission expense. The supporting note disclosure for fee and commission income will be enhanced to provide more information on the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers |
IFRS 16, Leases. | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2019 |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2019 |
Discussion of impact that initial application of new IFRS is expected to have on financial | UBS expects to report an increase in assets and liabilities from adoption as of 1 January 2019 in line with its disclosure of undiscounted operating lease commitments as set out in Note 31. |
IAS 28, Investments in Associates and Joint Ventures | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2019 |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2018 |
Amendments to IFRS 2, Share-based Payment | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2018 |
IFRIC 22, Foreign Currency Transactions and Advance Consideration | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2018 |
IFRIC 23, Uncertainty over Income Tax Treatments | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2019 |
Annual Improvements to IFRSs 2015-2017 Cycle | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2019 |
Amendments to IAS 19, Employee benefits | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2019 |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2019 |
UBS AG | IFRS 9, Financial Instruments | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2018 |
Discussion of impact that initial application of new IFRS is expected to have on financial | In line with transitional provisions in IFRS 9, UBS will recognize an estimated pre-tax transition impact of CHF 0.7 billion, as well as a tax credit of CHF 0.1 billion, resulting in a net reduction of CHF 0.6 billion in UBS’s IFRS consolidated equity. Approximately half of this amount is attributable to the classification and measurement changes, arising predominantly from the change in measurement basis of certain financial assets that no longer qualify for amortized cost accounting due to their cash flow characteristics. The remainder of the reduction results from recognizing expected credit losses on all in-scope transactions, with the majority of the impact driven by the private and commercial mortgage portfolio in Switzerland within the Group’s Personal & Corporate Banking division. As permitted by IFRS 9, UBS will not restate prior-period data. |
UBS AG | IFRS 15, Revenue from Contracts with Customers | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2018 |
Discussion of impact that initial application of new IFRS is expected to have on financial | UBS will adopt the standard on a modified retrospective basis that does not require comparatives to be restated. Instead, the cumulative effect of initially applying the standard will be recognized as an adjustment to the opening balance of retained earnings. The transition adjustment will not be material. IFRS 15 will result in a deferral of some performance-based fees in Asset Management and research revenues in the Investment Bank. However, the impact on Group’s revenues is not expected to be material. UBS will also present certain fee and commission income and expense on a gross basis, rather than net basis, if UBS is acting as a principal. Fee and commission income will be reported in the income statement separately from Fee and commission expense. The supporting note disclosure for fee and commission income will be enhanced to provide more information on the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers |
UBS AG | IFRS 16, Leases. | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2019 |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2019 |
Discussion of impact that initial application of new IFRS is expected to have on financial | UBS expects to report an increase in assets and liabilities from adoption as of 1 January 2019 in line with its disclosure of undiscounted operating lease commitments as set out in Note 31. |
UBS AG | IAS 28, Investments in Associates and Joint Ventures | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2019 |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2018 |
UBS AG | Amendments to IFRS 2, Share-based Payment | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2018 |
UBS AG | IFRIC 22, Foreign Currency Transactions and Advance Consideration | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2018 |
UBS AG | IFRIC 23, Uncertainty over Income Tax Treatments | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2019 |
UBS AG | Annual Improvements to IFRSs 2015-2017 Cycle | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2019 |
UBS AG | Amendments to IAS 19, Employee benefits | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2019 |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2019 |
Conditional share capital (Narr
Conditional share capital (Narrative) (Detail) - shares | Dec. 31, 2017 | Dec. 31, 2016 |
Conditional Share Capital [Line Items] | ||
Additional shares that could have been issued to fund UBS's employee share option programs | 127,664,622 | 130,000,000 |
Additional conditional capital available for conversion rights and warrants granted in connection with the issuance of bonds or similar financial instruments | 380,000,000 | 380,000,000 |
UBS AG | ||
Conditional Share Capital [Line Items] | ||
Additional share capital upon exercise of employee options | 136,200,312 | 136,200,312 |
Segment reporting (Narrative) (
Segment reporting (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Operating Segments [Line Items] | |
Number of business divisions | 5 |
Asset Management | |
Disclosure Of Operating Segments [Line Items] | |
Number of countries of which the business division has onshore presence | 23 |
Investment Bank | |
Disclosure Of Operating Segments [Line Items] | |
Number of countries of which the business division has onshore presence | 35 |
UBS AG | |
Disclosure Of Operating Segments [Line Items] | |
Number of business divisions | 5 |
UBS AG | Asset Management | |
Disclosure Of Operating Segments [Line Items] | |
Number of countries of which the business division has onshore presence | 23 |
UBS AG | Investment Bank | |
Disclosure Of Operating Segments [Line Items] | |
Number of countries of which the business division has onshore presence | 35 |
Segment reporting (Detail)
Segment reporting (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
For the year ended | |||||||
Net interest income | SFr 6,528 | SFr 6,413 | SFr 6,732 | ||||
Non-interest income | 22,667 | 21,944 | 23,990 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 0 | 0 | 0 | ||||
Income | 29,195 | [1] | 28,357 | [2] | 30,722 | [3] | |
Credit loss (expense) / recovery | (128) | (37) | (117) | ||||
Total operating income | 29,067 | 28,320 | [4] | 30,605 | [4] | ||
Personnel expenses | [5] | 15,889 | 15,720 | 15,981 | |||
General and administrative expenses | [6] | 6,808 | 7,434 | 8,107 | |||
Services (to) / from Corporate Center and other business divisions | 0 | 0 | 0 | ||||
of which: services from CC - Services | 0 | 0 | 0 | ||||
Depreciation and impairment of property, equipment and software | 1,033 | 985 | 920 | ||||
Amortization and impairment of intangible assets | [7] | 70 | 91 | 107 | |||
Total operating expenses | [8] | 23,800 | 24,230 | 25,116 | |||
Operating profit / (loss) before tax | 5,268 | 4,090 | 5,489 | ||||
Tax expense / (benefit) | (4,139) | (805) | 898 | ||||
Net profit / (loss) | 1,128 | 3,286 | 6,386 | ||||
Additional information | |||||||
Total assets | 915,642 | 935,016 | 942,819 | ||||
Additions to non-current assets | 1,707 | 1,816 | 1,895 | ||||
Financial assets available for sale | |||||||
Additional information | |||||||
Impairments | 15 | 5 | 1 | ||||
Wealth Management | |||||||
For the year ended | |||||||
Net interest income | 2,088 | 1,932 | 1,825 | ||||
Non-interest income | 5,285 | 4,975 | 5,859 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 256 | 389 | 471 | ||||
Income | 7,629 | [1] | 7,296 | [2] | 8,155 | [3] | |
Credit loss (expense) / recovery | (4) | (5) | 0 | ||||
Total operating income | 7,625 | 7,291 | 8,155 | ||||
Personnel expenses | 2,354 | 2,349 | 2,532 | ||||
General and administrative expenses | 594 | 640 | 637 | ||||
Services (to) / from Corporate Center and other business divisions | 2,372 | 2,348 | 2,289 | ||||
of which: services from CC - Services | 2,294 | 2,256 | 2,209 | ||||
Depreciation and impairment of property, equipment and software | 3 | 2 | 5 | ||||
Amortization and impairment of intangible assets | [7] | 7 | 4 | 3 | |||
Total operating expenses | [8] | 5,330 | 5,343 | 5,465 | |||
Operating profit / (loss) before tax | 2,295 | 1,948 | 2,689 | ||||
Additional information | |||||||
Total assets | 123,003 | 115,539 | 119,850 | ||||
Additions to non-current assets | 89 | 26 | 6 | ||||
Wealth Management | Financial assets available for sale | |||||||
Additional information | |||||||
Impairments | 1 | ||||||
Wealth Management Americas | |||||||
For the year ended | |||||||
Net interest income | 1,561 | 1,347 | 1,067 | ||||
Non-interest income | 6,676 | 6,320 | 6,213 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 115 | 118 | 104 | ||||
Income | 8,353 | [1] | 7,785 | [2] | 7,384 | [3] | |
Credit loss (expense) / recovery | (4) | (3) | (4) | ||||
Total operating income | 8,349 | 7,782 | 7,381 | ||||
Personnel expenses | 5,173 | 4,819 | 4,579 | ||||
General and administrative expenses | 644 | 570 | 822 | ||||
Services (to) / from Corporate Center and other business divisions | 1,282 | 1,235 | 1,209 | ||||
of which: services from CC - Services | 1,262 | 1,221 | 1,193 | ||||
Depreciation and impairment of property, equipment and software | 2 | 2 | 3 | ||||
Amortization and impairment of intangible assets | [7] | 41 | 50 | 51 | |||
Total operating expenses | [8] | 7,141 | 6,675 | 6,663 | |||
Operating profit / (loss) before tax | 1,208 | 1,107 | 718 | ||||
Additional information | |||||||
Total assets | 67,071 | 65,882 | 60,993 | ||||
Additions to non-current assets | 27 | 4 | 4 | ||||
Personal & Corporate Banking | |||||||
For the year ended | |||||||
Net interest income | 1,916 | 1,892 | 1,890 | ||||
Non-interest income | 1,772 | 1,768 | 1,603 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 181 | 332 | 421 | ||||
Income | 3,869 | [1] | 3,990 | [2] | 3,913 | [3] | |
Credit loss (expense) / recovery | (19) | (6) | (37) | ||||
Total operating income | 3,850 | 3,984 | 3,877 | ||||
Personnel expenses | 836 | 845 | 873 | ||||
General and administrative expenses | 290 | 285 | 264 | ||||
Services (to) / from Corporate Center and other business divisions | 1,133 | 1,080 | 1,077 | ||||
of which: services from CC - Services | 1,227 | 1,186 | 1,180 | ||||
Depreciation and impairment of property, equipment and software | 13 | 15 | 17 | ||||
Amortization and impairment of intangible assets | [7] | 0 | 0 | 0 | |||
Total operating expenses | [8] | 2,272 | 2,224 | 2,231 | |||
Operating profit / (loss) before tax | 1,578 | 1,760 | 1,646 | ||||
Additional information | |||||||
Total assets | 135,556 | 139,912 | 141,164 | ||||
Additions to non-current assets | 15 | 23 | 14 | ||||
Asset Management | |||||||
For the year ended | |||||||
Net interest income | (32) | (33) | (34) | ||||
Non-interest income | 2,058 | 1,957 | 2,077 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 18 | 7 | 15 | ||||
Income | 2,044 | [1] | 1,931 | [2] | 2,057 | [3] | |
Credit loss (expense) / recovery | 0 | 0 | 0 | ||||
Total operating income | 2,044 | 1,931 | 2,057 | ||||
Personnel expenses | 716 | 727 | 729 | ||||
General and administrative expenses | 231 | 241 | 232 | ||||
Services (to) / from Corporate Center and other business divisions | 514 | 506 | 502 | ||||
of which: services from CC - Services | 551 | 530 | 523 | ||||
Depreciation and impairment of property, equipment and software | 1 | 1 | 2 | ||||
Amortization and impairment of intangible assets | [7] | 3 | 4 | 8 | |||
Total operating expenses | [8] | 1,466 | 1,479 | 1,474 | |||
Operating profit / (loss) before tax | 578 | 452 | 584 | ||||
Additional information | |||||||
Total assets | 14,269 | 12,028 | 12,874 | ||||
Additions to non-current assets | 1 | 1 | 1 | ||||
Asset Management | Financial assets available for sale | |||||||
Additional information | |||||||
Impairments | 13 | 3 | |||||
Investment Bank | |||||||
For the year ended | |||||||
Net interest income | 1,194 | 1,006 | 1,573 | ||||
Non-interest income | 6,891 | 6,953 | 7,526 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | (344) | (260) | (211) | ||||
Income | 7,740 | [1] | 7,699 | [2] | 8,889 | [3] | |
Credit loss (expense) / recovery | (90) | (11) | (68) | ||||
Total operating income | 7,651 | 7,688 | 8,821 | ||||
Personnel expenses | 2,949 | 3,082 | 3,220 | ||||
General and administrative expenses | 662 | 805 | 841 | ||||
Services (to) / from Corporate Center and other business divisions | 2,769 | 2,765 | 2,817 | ||||
of which: services from CC - Services | 2,676 | 2,675 | 2,731 | ||||
Depreciation and impairment of property, equipment and software | 10 | 21 | 26 | ||||
Amortization and impairment of intangible assets | [7] | 12 | 12 | 24 | |||
Total operating expenses | [8] | 6,402 | 6,684 | 6,929 | |||
Operating profit / (loss) before tax | 1,249 | 1,004 | 1,892 | ||||
Additional information | |||||||
Total assets | 262,931 | 242,302 | 253,486 | ||||
Additions to non-current assets | 3 | 3 | 18 | ||||
Corporate Center - Services | |||||||
For the year ended | |||||||
Net interest income | (348) | (322) | (340) | ||||
Non-interest income | 75 | 183 | 435 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 120 | 36 | 145 | ||||
Income | (153) | [1] | (102) | [2] | 241 | [3] | |
Credit loss (expense) / recovery | 0 | 0 | 0 | ||||
Total operating income | (153) | (102) | 241 | ||||
Personnel expenses | 3,785 | 3,801 | 3,903 | ||||
General and administrative expenses | 4,247 | 4,145 | 4,483 | ||||
Services (to) / from Corporate Center and other business divisions | (8,281) | (8,164) | (8,215) | ||||
of which: services from CC - Services | (8,345) | (8,204) | (8,245) | ||||
Depreciation and impairment of property, equipment and software | 1,004 | 944 | 868 | ||||
Amortization and impairment of intangible assets | [7] | 7 | 21 | 21 | |||
Total operating expenses | [8] | 762 | 747 | 1,059 | |||
Operating profit / (loss) before tax | (914) | (849) | (818) | ||||
Additional information | |||||||
Total assets | 20,875 | 23,669 | 22,566 | ||||
Additions to non-current assets | 1,573 | 1,759 | 1,851 | ||||
Corporate Center - Group ALM | |||||||
For the year ended | |||||||
Net interest income | 126 | 589 | 730 | ||||
Non-interest income | (137) | (295) | 378 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | (264) | (512) | (832) | ||||
Income | (276) | [1] | (219) | [2] | 277 | [3] | |
Credit loss (expense) / recovery | 0 | 0 | 0 | ||||
Total operating income | (276) | (219) | 277 | ||||
Personnel expenses | 34 | 31 | 30 | ||||
General and administrative expenses | 26 | 17 | 22 | ||||
Services (to) / from Corporate Center and other business divisions | (13) | (49) | (57) | ||||
of which: services from CC - Services | 142 | 110 | 96 | ||||
Depreciation and impairment of property, equipment and software | 0 | 0 | 0 | ||||
Amortization and impairment of intangible assets | [7] | 0 | 0 | 0 | |||
Total operating expenses | [8] | 47 | (1) | (5) | |||
Operating profit / (loss) before tax | (322) | (218) | 282 | ||||
Additional information | |||||||
Total assets | 245,737 | 267,200 | 237,517 | ||||
Additions to non-current assets | 0 | 0 | 0 | ||||
Non-core and Legacy Portfolio | |||||||
For the year ended | |||||||
Net interest income | 23 | 3 | 21 | ||||
Non-interest income | 48 | 84 | (101) | ||||
Allocations from CC - Group ALM to business divisions and other CC units | (83) | (110) | (114) | ||||
Income | (11) | [1] | (23) | [2] | (195) | [3] | |
Credit loss (expense) / recovery | (11) | (13) | (8) | ||||
Total operating income | (22) | (36) | (203) | ||||
Personnel expenses | 43 | 66 | 116 | ||||
General and administrative expenses | 114 | 732 | 806 | ||||
Services (to) / from Corporate Center and other business divisions | 224 | 280 | 379 | ||||
of which: services from CC - Services | 194 | 225 | 313 | ||||
Depreciation and impairment of property, equipment and software | 0 | 0 | 0 | ||||
Amortization and impairment of intangible assets | [7] | 0 | 0 | 0 | |||
Total operating expenses | [8] | 381 | 1,078 | 1,301 | |||
Operating profit / (loss) before tax | (403) | (1,114) | (1,503) | ||||
Additional information | |||||||
Total assets | 46,200 | 68,485 | 94,369 | ||||
Additions to non-current assets | 0 | 0 | 1 | ||||
UBS AG | |||||||
For the year ended | |||||||
Net interest income | 6,480 | 6,383 | 6,729 | ||||
Non-interest income | 23,127 | 22,075 | 23,993 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 0 | 0 | 0 | ||||
Income | 29,606 | [1] | 28,458 | [2] | 30,721 | [3] | |
Credit loss (expense) / recovery | (128) | (37) | (117) | ||||
Total operating income | 29,479 | 28,421 | [4] | 30,605 | [4] | ||
Personnel expenses | [9] | 14,673 | [10] | 15,591 | 15,954 | ||
General and administrative expenses | [11] | 8,811 | [12] | 7,690 | 8,219 | ||
Services (to) / from Corporate Center and other business divisions | 0 | 0 | 0 | ||||
of which: services from CC - Services | 0 | 0 | 0 | ||||
Depreciation and impairment of property, equipment and software | 928 | 980 | 918 | ||||
Amortization and impairment of intangible assets | [7] | 70 | 91 | 107 | |||
Total operating expenses | [8] | 24,481 | 24,352 | 25,198 | |||
Operating profit / (loss) before tax | 4,998 | 4,069 | 5,407 | ||||
Tax expense / (benefit) | (4,077) | (781) | 908 | ||||
Net profit / (loss) | 921 | 3,288 | 6,314 | ||||
Additional information | |||||||
Total assets | 916,363 | 935,353 | 943,256 | ||||
Additions to non-current assets | 1,612 | 1,798 | 1,888 | ||||
UBS AG | Financial assets available for sale | |||||||
Additional information | |||||||
Impairments | 15 | 5 | 1 | ||||
UBS AG | Wealth Management | |||||||
For the year ended | |||||||
Net interest income | 2,088 | 1,932 | 1,825 | ||||
Non-interest income | 5,286 | 4,975 | 5,859 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 256 | 389 | 471 | ||||
Income | 7,629 | [1] | 7,296 | [2] | 8,155 | [3] | |
Credit loss (expense) / recovery | (4) | (5) | 0 | ||||
Total operating income | 7,626 | 7,291 | 8,155 | ||||
Personnel expenses | 2,355 | 2,348 | 2,532 | ||||
General and administrative expenses | 605 | 653 | 650 | ||||
Services (to) / from Corporate Center and other business divisions | 2,372 | 2,348 | 2,289 | ||||
of which: services from CC - Services | 2,294 | 2,256 | 2,209 | ||||
Depreciation and impairment of property, equipment and software | 3 | 2 | 5 | ||||
Amortization and impairment of intangible assets | [7] | 7 | 4 | 3 | |||
Total operating expenses | [8] | 5,342 | 5,355 | 5,478 | |||
Operating profit / (loss) before tax | 2,284 | 1,936 | 2,676 | ||||
Additional information | |||||||
Total assets | 123,003 | 115,539 | 119,850 | ||||
Additions to non-current assets | 89 | 26 | 6 | ||||
UBS AG | Wealth Management | Financial assets available for sale | |||||||
Additional information | |||||||
Impairments | 1 | ||||||
UBS AG | Wealth Management Americas | |||||||
For the year ended | |||||||
Net interest income | 1,562 | 1,347 | 1,067 | ||||
Non-interest income | 6,676 | 6,320 | 6,213 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 115 | 118 | 104 | ||||
Income | 8,353 | [1] | 7,785 | [2] | 7,384 | [3] | |
Credit loss (expense) / recovery | (4) | (3) | (4) | ||||
Total operating income | 8,349 | 7,782 | 7,381 | ||||
Personnel expenses | 5,177 | 4,819 | 4,579 | ||||
General and administrative expenses | 677 | 597 | 848 | ||||
Services (to) / from Corporate Center and other business divisions | 1,281 | 1,235 | 1,209 | ||||
of which: services from CC - Services | 1,262 | 1,221 | 1,193 | ||||
Depreciation and impairment of property, equipment and software | 2 | 2 | 3 | ||||
Amortization and impairment of intangible assets | [7] | 41 | 50 | 51 | |||
Total operating expenses | [8] | 7,178 | 6,702 | 6,689 | |||
Operating profit / (loss) before tax | 1,171 | 1,081 | 692 | ||||
Additional information | |||||||
Total assets | 67,071 | 65,882 | 60,993 | ||||
Additions to non-current assets | 27 | 4 | 4 | ||||
UBS AG | Personal & Corporate Banking | |||||||
For the year ended | |||||||
Net interest income | 1,916 | 1,892 | 1,890 | ||||
Non-interest income | 1,772 | 1,768 | 1,603 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 181 | 332 | 421 | ||||
Income | 3,869 | [1] | 3,990 | [2] | 3,913 | [3] | |
Credit loss (expense) / recovery | (19) | (6) | (37) | ||||
Total operating income | 3,850 | 3,984 | 3,876 | ||||
Personnel expenses | 833 | 843 | 873 | ||||
General and administrative expenses | 294 | 286 | 264 | ||||
Services (to) / from Corporate Center and other business divisions | 1,131 | 1,079 | 1,077 | ||||
of which: services from CC - Services | 1,224 | 1,186 | 1,180 | ||||
Depreciation and impairment of property, equipment and software | 13 | 15 | 17 | ||||
Amortization and impairment of intangible assets | [7] | 0 | 0 | 0 | |||
Total operating expenses | [8] | 2,271 | 2,224 | 2,231 | |||
Operating profit / (loss) before tax | 1,579 | 1,761 | 1,646 | ||||
Additional information | |||||||
Total assets | 135,587 | 139,945 | 141,174 | ||||
Additions to non-current assets | 15 | 23 | 14 | ||||
UBS AG | Asset Management | |||||||
For the year ended | |||||||
Net interest income | (32) | (33) | (34) | ||||
Non-interest income | 2,058 | 1,957 | 2,077 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 18 | 7 | 15 | ||||
Income | 2,044 | [1] | 1,931 | [2] | 2,057 | [3] | |
Credit loss (expense) / recovery | 0 | 0 | 0 | ||||
Total operating income | 2,044 | 1,931 | 2,057 | ||||
Personnel expenses | 716 | 727 | 729 | ||||
General and administrative expenses | 234 | 242 | 233 | ||||
Services (to) / from Corporate Center and other business divisions | 512 | 505 | 502 | ||||
of which: services from CC - Services | 549 | 530 | 523 | ||||
Depreciation and impairment of property, equipment and software | 1 | 1 | 2 | ||||
Amortization and impairment of intangible assets | [7] | 3 | 4 | 8 | |||
Total operating expenses | [8] | 1,466 | 1,480 | 1,475 | |||
Operating profit / (loss) before tax | 578 | 451 | 583 | ||||
Additional information | |||||||
Total assets | 14,270 | 12,026 | 12,874 | ||||
Additions to non-current assets | 1 | 1 | 1 | ||||
UBS AG | Asset Management | Financial assets available for sale | |||||||
Additional information | |||||||
Impairments | 13 | 3 | |||||
UBS AG | Investment Bank | |||||||
For the year ended | |||||||
Net interest income | 1,194 | 1,006 | 1,573 | ||||
Non-interest income | 6,891 | 6,951 | 7,525 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | (344) | (260) | (211) | ||||
Income | 7,741 | [1] | 7,697 | [2] | 8,889 | [3] | |
Credit loss (expense) / recovery | (90) | (11) | (68) | ||||
Total operating income | 7,651 | 7,686 | 8,821 | ||||
Personnel expenses | 2,950 | 3,081 | 3,220 | ||||
General and administrative expenses | 715 | 852 | 882 | ||||
Services (to) / from Corporate Center and other business divisions | 2,767 | 2,757 | 2,816 | ||||
of which: services from CC - Services | 2,674 | 2,667 | 2,730 | ||||
Depreciation and impairment of property, equipment and software | 10 | 21 | 26 | ||||
Amortization and impairment of intangible assets | [7] | 12 | 12 | 24 | |||
Total operating expenses | [8] | 6,453 | 6,724 | 6,969 | |||
Operating profit / (loss) before tax | 1,198 | 962 | 1,852 | ||||
Additional information | |||||||
Total assets | 263,046 | 242,388 | 253,571 | ||||
Additions to non-current assets | 3 | 3 | 18 | ||||
UBS AG | Corporate Center - Services | |||||||
For the year ended | |||||||
Net interest income | (354) | (322) | (337) | ||||
Non-interest income | 464 | 250 | 434 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | 120 | 36 | 145 | ||||
Income | 231 | [1] | (36) | [2] | 243 | [3] | |
Credit loss (expense) / recovery | 0 | 0 | 0 | ||||
Total operating income | 231 | (36) | 243 | ||||
Personnel expenses | 2,565 | 3,674 | 3,875 | ||||
General and administrative expenses | 6,147 | 4,312 | 4,517 | ||||
Services (to) / from Corporate Center and other business divisions | (8,274) | (8,156) | (8,214) | ||||
of which: services from CC - Services | (8,338) | (8,196) | (8,243) | ||||
Depreciation and impairment of property, equipment and software | 899 | 938 | 866 | ||||
Amortization and impairment of intangible assets | [7] | 7 | 21 | 21 | |||
Total operating expenses | [8] | 1,344 | 790 | 1,065 | |||
Operating profit / (loss) before tax | (1,113) | (826) | (822) | ||||
Additional information | |||||||
Total assets | 19,447 | 23,813 | 22,866 | ||||
Additions to non-current assets | 1,478 | 1,741 | 1,844 | ||||
UBS AG | Corporate Center - Group ALM | |||||||
For the year ended | |||||||
Net interest income | 83 | 559 | 724 | ||||
Non-interest income | (68) | (229) | 383 | ||||
Allocations from CC - Group ALM to business divisions and other CC units | (264) | (512) | (832) | ||||
Income | (249) | [1] | (183) | [2] | 275 | [3] | |
Credit loss (expense) / recovery | 0 | 0 | 0 | ||||
Total operating income | (249) | (183) | 275 | ||||
Personnel expenses | 34 | 31 | 30 | ||||
General and administrative expenses | 26 | 17 | 21 | ||||
Services (to) / from Corporate Center and other business divisions | (13) | (49) | (57) | ||||
of which: services from CC - Services | 142 | 110 | 96 | ||||
Depreciation and impairment of property, equipment and software | 0 | 0 | 0 | ||||
Amortization and impairment of intangible assets | [7] | 0 | 0 | 0 | |||
Total operating expenses | [8] | 47 | (1) | (6) | |||
Operating profit / (loss) before tax | (296) | (182) | 281 | ||||
Additional information | |||||||
Total assets | 247,739 | 267,275 | 237,560 | ||||
Additions to non-current assets | 0 | 0 | 0 | ||||
UBS AG | Non-core and Legacy Portfolio | |||||||
For the year ended | |||||||
Net interest income | 23 | 3 | 21 | ||||
Non-interest income | 48 | 84 | (101) | ||||
Allocations from CC - Group ALM to business divisions and other CC units | (83) | (110) | (114) | ||||
Income | (11) | [1] | (23) | [2] | (195) | [3] | |
Credit loss (expense) / recovery | (11) | (13) | (8) | ||||
Total operating income | (22) | (36) | (203) | ||||
Personnel expenses | 43 | 66 | 116 | ||||
General and administrative expenses | 113 | 731 | 804 | ||||
Services (to) / from Corporate Center and other business divisions | 224 | 280 | 379 | ||||
of which: services from CC - Services | 194 | 225 | 313 | ||||
Depreciation and impairment of property, equipment and software | 0 | 0 | 0 | ||||
Amortization and impairment of intangible assets | [7] | 0 | 0 | 0 | |||
Total operating expenses | [8] | 380 | 1,077 | 1,298 | |||
Operating profit / (loss) before tax | (403) | (1,113) | (1,501) | ||||
Additional information | |||||||
Total assets | 46,200 | 68,485 | 94,369 | ||||
Additions to non-current assets | SFr 0 | SFr 0 | SFr 1 | ||||
[1] | Impairments of financial assets available for sale for the year ended 31 December 2017 totaled CHF 15 million, of which CHF 13 million was recorded in Asset Management. | ||||||
[2] | Impairments of financial assets available for sale for the year ended 31 December 2016 totaled CHF 5 million, of which CHF 3 million was recorded in Asset Management. | ||||||
[3] | Impairments of financial assets available for sale for the year ended 31 December 2015 totaled CHF 1 million, all in Wealth Management. | ||||||
[4] | The geographical allocation of Total operating income has been restated to reflect a refinement in the allocation methodology. | ||||||
[5] | Includes net restructuring expenses of CHF 534 million, CHF 751 million and CHF 460 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[6] | Includes net restructuring expenses of CHF 627 million, CHF 695 million and CHF 761 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[7] | Refer to Note 15 for more information. | ||||||
[8] | Refer to Note 30 for information on restructuring expenses. | ||||||
[9] | Includes net restructuring expenses of CHF 362 million, CHF 731 million and CHF 458 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[10] | The decrease in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. | ||||||
[11] | Includes net restructuring expenses of CHF 818 million, CHF 700 million and CHF 760 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[12] | The increase in 2017 in shared services costs charged by UBS Group AG or its subsidiaries and the associated decrease in certain direct cost lines were mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. |
Segment reporting by geograp117
Segment reporting by geographical location (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 29,067 | SFr 28,320 | [1] | SFr 30,605 | [1] |
Total non-current assets | SFr 16,200 | SFr 15,900 | SFr 15,200 | ||
Total operating income (Share %) | 100.00% | 100.00% | 100.00% | ||
Total non-current assets (Share %) | 100.00% | 100.00% | 100.00% | ||
Americas | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 12,000 | SFr 11,500 | [1] | SFr 11,200 | [1] |
Total non-current assets | SFr 7,200 | SFr 7,400 | SFr 7,100 | ||
Total operating income (Share %) | 41.00% | 41.00% | 37.00% | ||
Total non-current assets (Share %) | 44.00% | 47.00% | 47.00% | ||
of which: USA | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 11,400 | SFr 11,000 | [1] | SFr 10,500 | [1] |
Total non-current assets | SFr 6,700 | SFr 7,000 | SFr 6,700 | ||
Total operating income (Share %) | 39.00% | 39.00% | 34.00% | ||
Total non-current assets (Share %) | 41.00% | 44.00% | 44.00% | ||
Asia Pacific | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 4,700 | SFr 4,200 | [1] | SFr 5,100 | [1] |
Total non-current assets | SFr 800 | SFr 700 | SFr 500 | ||
Total operating income (Share %) | 16.00% | 15.00% | 17.00% | ||
Total non-current assets (Share %) | 5.00% | 4.00% | 3.00% | ||
Europe, Middle East and Africa | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 6,000 | SFr 6,100 | [1] | SFr 6,800 | [1] |
Total non-current assets | SFr 1,900 | SFr 1,800 | SFr 1,700 | ||
Total operating income (Share %) | 21.00% | 22.00% | 22.00% | ||
Total non-current assets (Share %) | 12.00% | 11.00% | 11.00% | ||
Switzerland | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 6,900 | SFr 6,900 | [1] | SFr 7,200 | [1] |
Total non-current assets | SFr 6,400 | SFr 6,000 | SFr 5,900 | ||
Total operating income (Share %) | 24.00% | 24.00% | 24.00% | ||
Total non-current assets (Share %) | 40.00% | 38.00% | 39.00% | ||
Global | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr (400) | SFr (500) | [1] | SFr 400 | [1] |
Total non-current assets | SFr 0 | SFr 0 | SFr 0 | ||
Total operating income (Share %) | (1.00%) | (2.00%) | 1.00% | ||
Total non-current assets (Share %) | 0.00% | 0.00% | 0.00% | ||
UBS AG | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 29,479 | SFr 28,421 | [1] | SFr 30,605 | [1] |
Total non-current assets | SFr 15,400 | SFr 15,800 | SFr 15,200 | ||
Total operating income (Share %) | 100.00% | 100.00% | 100.00% | ||
Total non-current assets (Share %) | 100.00% | 100.00% | 100.00% | ||
UBS AG | Americas | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 12,000 | SFr 11,500 | [1] | SFr 11,200 | [1] |
Total non-current assets | SFr 7,200 | SFr 7,400 | SFr 7,100 | ||
Total operating income (Share %) | 41.00% | 40.00% | 37.00% | ||
Total non-current assets (Share %) | 47.00% | 47.00% | 47.00% | ||
UBS AG | of which: USA | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 11,400 | SFr 11,000 | [1] | SFr 10,500 | [1] |
Total non-current assets | SFr 6,700 | SFr 7,000 | SFr 6,700 | ||
Total operating income (Share %) | 39.00% | 39.00% | 34.00% | ||
Total non-current assets (Share %) | 44.00% | 44.00% | 44.00% | ||
UBS AG | Asia Pacific | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 4,700 | SFr 4,200 | [1] | SFr 5,100 | [1] |
Total non-current assets | SFr 700 | SFr 600 | SFr 500 | ||
Total operating income (Share %) | 16.00% | 15.00% | 17.00% | ||
Total non-current assets (Share %) | 5.00% | 4.00% | 3.00% | ||
UBS AG | Europe, Middle East and Africa | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 6,000 | SFr 6,100 | [1] | SFr 6,800 | [1] |
Total non-current assets | SFr 1,600 | SFr 1,800 | SFr 1,700 | ||
Total operating income (Share %) | 20.00% | 21.00% | 22.00% | ||
Total non-current assets (Share %) | 10.00% | 11.00% | 11.00% | ||
UBS AG | Switzerland | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 6,900 | SFr 6,900 | [1] | SFr 7,200 | [1] |
Total non-current assets | SFr 5,900 | SFr 6,000 | SFr 5,900 | ||
Total operating income (Share %) | 23.00% | 24.00% | 24.00% | ||
Total non-current assets (Share %) | 38.00% | 38.00% | 39.00% | ||
UBS AG | Global | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total operating income | SFr 0 | SFr (300) | [1] | SFr 400 | [1] |
Total non-current assets | SFr 0 | SFr 0 | SFr 0 | ||
Total operating income (Share %) | 0.00% | (1.00%) | 1.00% | ||
Total non-current assets (Share %) | 0.00% | 0.00% | 0.00% | ||
[1] | The geographical allocation of Total operating income has been restated to reflect a refinement in the allocation methodology. |
Net interest and trading inc118
Net interest and trading income (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Net interest and trading income | ||||
Net interest income | [1] | SFr 6,528 | SFr 6,413 | SFr 6,732 |
Net trading income | [1] | 4,972 | 4,948 | 5,742 |
of which: net gains / (losses) from financial assets designated at fair value | [1] | 2,574 | (191) | (127) |
of which: net gains / (losses) from financial liabilities designated at fair value | [1],[2] | (3,920) | (1,362) | 3,701 |
Total net interest and trading income | [1] | 11,499 | 11,361 | 12,474 |
Interest income | ||||
Interest income from loans and deposits | [3],[4],[5] | 8,461 | 9,570 | 8,625 |
Interest income from securities financing transactions | [6] | 1,542 | 1,136 | 896 |
Interest income from trading portfolio | [7] | 2,565 | 2,465 | 3,071 |
Interest income from financial assets and liabilities designated at fair value | 548 | 361 | 194 | |
Interest income from financial assets available for sale and held to maturity | [7] | 260 | 253 | 391 |
Interest income from derivative instruments designated as cash flow hedges | [4] | 818 | ||
Total | 14,193 | 13,787 | 13,177 | |
Interest expense | ||||
Interest expense on loans and deposits | [8] | 1,375 | 826 | 476 |
Interest expense on securities financing transactions | [9] | 1,444 | 1,233 | 976 |
Interest expense on trading portfolio | [10] | 1,506 | 1,614 | 1,670 |
Interest expense on financial assets and liabilities designated at fair value | 864 | 841 | 730 | |
Interest expense on debt issued | [4] | 2,478 | 2,858 | 2,592 |
Total | 7,665 | 7,373 | 6,445 | |
Net interest income | [1] | 6,528 | 6,413 | 6,732 |
Net trading income | ||||
Investment Bank Corporate Client Solutions | 597 | 188 | 321 | |
Investment Bank Investor Client Services | 2,812 | 3,332 | 3,494 | |
Other business divisions and Corporate Center | 1,562 | 1,428 | 1,928 | |
Net trading income | [1] | 4,972 | 4,948 | 5,742 |
Interest income on impaired loans and advances | 12 | 21 | 16 | |
Wealth Management | ||||
Net interest and trading income | ||||
Net interest income | [1] | 2,344 | 2,331 | 2,326 |
Net trading income | [1] | 694 | 667 | 708 |
Interest expense | ||||
Net interest income | [1] | 2,344 | 2,331 | 2,326 |
Net trading income | ||||
Net trading income | [1] | 694 | 667 | 708 |
Wealth Management Americas | ||||
Net interest and trading income | ||||
Net interest income | [1] | 1,679 | 1,467 | 1,174 |
Net trading income | [1] | 332 | 372 | 362 |
Interest expense | ||||
Net interest income | [1] | 1,679 | 1,467 | 1,174 |
Net trading income | ||||
Net trading income | [1] | 332 | 372 | 362 |
Personal & Corporate Banking | ||||
Net interest and trading income | ||||
Net interest income | [1] | 2,086 | 2,199 | 2,270 |
Net trading income | [1] | 376 | 333 | 343 |
Interest expense | ||||
Net interest income | [1] | 2,086 | 2,199 | 2,270 |
Net trading income | ||||
Net trading income | [1] | 376 | 333 | 343 |
Asset Management | ||||
Net interest and trading income | ||||
Net interest income | [1] | (14) | (24) | (17) |
Net trading income | [1] | (10) | (5) | 12 |
Interest expense | ||||
Net interest income | [1] | (14) | (24) | (17) |
Net trading income | ||||
Net trading income | [1] | (10) | (5) | 12 |
Investment Bank | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | 4,282 | 4,277 | 5,186 |
of which: Corporate Client Solutions | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | 1,065 | 822 | 1,001 |
of which: Investor Client Services | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | 3,217 | 3,455 | 4,185 |
Corporate Center | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | (270) | (256) | 110 |
of which: Services | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | (42) | (89) | (3) |
of which: Group ALM | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | (157) | (104) | 426 |
of which: own credit on financial liabilities designated at fair value | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | 553 | ||
of which: CC - Non-core and Legacy Portfolio | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | (71) | (62) | (313) |
UBS AG | ||||
Net interest and trading income | ||||
Net interest income | [1] | 6,480 | 6,383 | 6,729 |
Net trading income | [1] | 4,974 | 4,943 | 5,696 |
of which: net gains / (losses) from financial assets designated at fair value | [1] | 2,527 | (186) | (119) |
of which: net gains / (losses) from financial liabilities designated at fair value | [1],[2] | (3,920) | (1,362) | 3,701 |
Total net interest and trading income | [1] | 11,454 | 11,326 | 12,425 |
Interest income | ||||
Interest income from loans and deposits | [3],[4],[5] | 8,475 | 9,566 | 8,626 |
Interest income from securities financing transactions | [6] | 1,542 | 1,136 | 896 |
Interest income from trading portfolio | [7] | 2,565 | 2,465 | 3,071 |
Interest income from financial assets and liabilities designated at fair value | 548 | 361 | 194 | |
Interest income from financial assets available for sale and held to maturity | [7] | 260 | 253 | 391 |
Interest income from derivative instruments designated as cash flow hedges | [4] | 818 | ||
Total | 14,208 | 13,782 | 13,178 | |
Interest expense | ||||
Interest expense on loans and deposits | [4],[8] | 2,464 | 1,664 | 774 |
Interest expense on securities financing transactions | [9] | 1,444 | 1,233 | 976 |
Interest expense on trading portfolio | [10] | 1,506 | 1,614 | 1,670 |
Interest expense on financial assets and liabilities designated at fair value | 864 | 841 | 730 | |
Interest expense on debt issued | [4] | 1,451 | 2,046 | 2,299 |
Total | 7,728 | 7,399 | 6,449 | |
Net interest income | [1] | 6,480 | 6,383 | 6,729 |
Net trading income | ||||
Investment Bank Corporate Client Solutions | 597 | 188 | 321 | |
Investment Bank Investor Client Services | 2,813 | 3,330 | 3,494 | |
Other business divisions and Corporate Center | 1,564 | 1,425 | 1,882 | |
Net trading income | [1] | 4,974 | 4,943 | 5,696 |
Interest income on impaired loans and advances | 12 | 21 | 16 | |
UBS AG | Wealth Management | ||||
Net interest and trading income | ||||
Net interest income | [1] | 2,344 | 2,331 | 2,326 |
Net trading income | [1] | 694 | 667 | 708 |
Interest expense | ||||
Net interest income | [1] | 2,344 | 2,331 | 2,326 |
Net trading income | ||||
Net trading income | [1] | 694 | 667 | 708 |
UBS AG | Wealth Management Americas | ||||
Net interest and trading income | ||||
Net interest income | [1] | 1,680 | 1,467 | 1,174 |
Net trading income | [1] | 332 | 372 | 362 |
Interest expense | ||||
Net interest income | [1] | 1,680 | 1,467 | 1,174 |
Net trading income | ||||
Net trading income | [1] | 332 | 372 | 362 |
UBS AG | Personal & Corporate Banking | ||||
Net interest and trading income | ||||
Net interest income | [1] | 2,086 | 2,199 | 2,270 |
Net trading income | [1] | 375 | 333 | 343 |
Interest expense | ||||
Net interest income | [1] | 2,086 | 2,199 | 2,270 |
Net trading income | ||||
Net trading income | [1] | 375 | 333 | 343 |
UBS AG | Asset Management | ||||
Net interest and trading income | ||||
Net interest income | [1] | (14) | (24) | (17) |
Net trading income | [1] | (10) | (5) | 12 |
Interest expense | ||||
Net interest income | [1] | (14) | (24) | (17) |
Net trading income | ||||
Net trading income | [1] | (10) | (5) | 12 |
UBS AG | Investment Bank | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | 4,283 | 4,275 | 5,186 |
UBS AG | of which: Corporate Client Solutions | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | 1,065 | 822 | 1,001 |
UBS AG | of which: Investor Client Services | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | 3,218 | 3,453 | 4,185 |
UBS AG | Corporate Center | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | (316) | (289) | 61 |
UBS AG | of which: Services | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | (47) | (92) | (1) |
UBS AG | of which: Group ALM | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | (199) | (134) | 375 |
UBS AG | of which: own credit on financial liabilities designated at fair value | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | 553 | ||
UBS AG | of which: CC - Non-core and Legacy Portfolio | ||||
Net interest and trading income | ||||
Total net interest and trading income | [1] | SFr (71) | SFr (62) | SFr (313) |
[1] | Net interest and trading income presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. | |||
[2] | Excludes fair value changes of hedges related to financial liabilities designated at fair value and foreign currency translation effects arising from translating foreign currency transactions into the respective functional currency, both of which are reported within Net trading income. | |||
[3] | Consists of interest income from balances with central banks, amounts due from banks and loans, and negative interest on amounts due to banks and customers. | |||
[4] | Effective 1 January 2017, the presentation of interest income and interest expense on derivatives designated as hedging instruments in effective hedge relationships was refined. Refer to Note 1b for more information. | |||
[5] | Includes interest income on impaired loans and advances of CHF 12 million for 2017, CHF 21 million for 2016 and CHF 16 million for 2015. | |||
[6] | Includes interest income on securities borrowed and reverse repurchase agreements and negative interest, including fees, on securities lent and repurchase agreements. | |||
[7] | Includes dividend income. | |||
[8] | Consists of interest expense on amounts due to banks and customers, and negative interest on balances with central banks, amounts due from banks and loans. | |||
[9] | Includes interest expense on securities lent and repurchase agreements and negative interest, including fees, on securities borrowed and reverse repurchase agreements. | |||
[10] | Includes expense related to dividend payment obligations on trading liabilities. |
Net fee and commission incom119
Net fee and commission income (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net fee And Commission Income [Line Items] | |||
Underwriting Fees | SFr 1,295 | SFr 946 | SFr 1,246 |
of which: equity underwriting fees | 837 | 516 | 836 |
of which: debt underwriting fees | 458 | 431 | 410 |
M&A and corporate finance fees | 683 | 733 | 737 |
Brokerage fees | 3,440 | 3,541 | 3,930 |
Investment fund fees | 3,219 | 3,155 | 3,567 |
Portfolio management and advisory fees | 8,542 | 8,035 | 7,858 |
Other | 1,812 | 1,747 | 1,678 |
Total fee and commission income | 18,991 | 18,157 | 19,016 |
Brokerage fees paid | 660 | 757 | 869 |
Other | 1,144 | 1,003 | 1,007 |
Total fee and commission expense | 1,804 | 1,760 | 1,876 |
Net fee and commission income | 17,186 | 16,397 | 17,140 |
of which: net brokerage fees | 2,779 | 2,784 | 3,060 |
UBS AG | |||
Net fee And Commission Income [Line Items] | |||
Underwriting Fees | 1,321 | 994 | 1,290 |
of which: equity underwriting fees | 837 | 516 | 836 |
of which: debt underwriting fees | 484 | 478 | 455 |
M&A and corporate finance fees | 683 | 733 | 737 |
Brokerage fees | 3,441 | 3,544 | 3,930 |
Investment fund fees | 3,219 | 3,155 | 3,567 |
Portfolio management and advisory fees | 8,542 | 8,035 | 7,858 |
Other | 1,811 | 1,747 | 1,678 |
Total fee and commission income | 19,018 | 18,207 | 19,060 |
Brokerage fees paid | 660 | 757 | 869 |
Other | 1,144 | 1,003 | 1,007 |
Total fee and commission expense | 1,804 | 1,760 | 1,876 |
Net fee and commission income | 17,214 | 16,447 | 17,184 |
of which: net brokerage fees | SFr 2,780 | SFr 2,786 | SFr 3,060 |
Other income (Detail)
Other income (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Associates, joint ventures and subsidiaries | ||||||
Net gains / (losses) from disposals of subsidiaries | [1] | SFr 37 | [2] | SFr (150) | SFr 264 | |
Share of net profits of associates and joint ventures | 75 | [3] | 106 | [3] | 169 | |
Impairment charges related to associates | (7) | |||||
Total | 105 | (44) | 433 | |||
Financial assets available for sale | ||||||
Net gains / (losses) from disposals | 193 | 346 | 252 | |||
Impairment charges | (15) | (5) | (1) | |||
Total | 178 | 342 | 251 | |||
Net income from properties (excluding net gains / (losses) from disposals) | [4] | 24 | 25 | 28 | ||
Net gains / (losses) from disposals of properties held for sale | 0 | 125 | 378 | |||
Net gains / (losses) from disposals of loans and receivables | 15 | (3) | 26 | |||
Other | 189 | [2] | 154 | (9) | ||
Total other income | 509 | 599 | 1,107 | |||
UBS AG | ||||||
Associates, joint ventures and subsidiaries | ||||||
Net gains / (losses) from disposals of subsidiaries | [1] | 37 | [2] | (150) | 264 | |
Share of net profits of associates and joint ventures | 75 | [3] | 106 | [3] | 169 | |
Impairment charges related to associates | (7) | |||||
Total | 105 | (44) | 433 | |||
Financial assets available for sale | ||||||
Net gains / (losses) from disposals | 193 | 346 | 252 | |||
Impairment charges | (15) | (5) | (1) | |||
Total | 178 | 342 | 251 | |||
Net income from properties (excluding net gains / (losses) from disposals) | [4] | 23 | 25 | 28 | ||
Net gains / (losses) from disposals of properties held for sale | 0 | 125 | 378 | |||
Net gains / (losses) from disposals of loans and receivables | 15 | (3) | 26 | |||
Income from shared services provided to UBS Group AG or its subsidiaries | 385 | [5] | 48 | 0 | ||
Other | 234 | [2] | 192 | (5) | ||
Total other income | SFr 939 | SFr 685 | SFr 1,112 | |||
[1] | Includes foreign exchange gains / (losses) reclassified from other comprehensive income related to disposed foreign subsidiaries and branches. | |||||
[2] | Net gains / (losses) from disposals of subsidiaries and Other include a net gain on sale of subsidiaries and businesses of CHF 153 million in Asset Management. Refer to Note 30 for more information. | |||||
[3] | For 2017, consists of CHF 60 million from associates and CHF 15 million from joint ventures. For 2016, consists of CHF 94 million from associates and CHF 12 million from joint ventures. | |||||
[4] | Includes net rent received from third parties and net operating expenses. | |||||
[5] | The increase in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. |
Personnel expenses (Detail)
Personnel expenses (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Personnel Expenses [Line Items] | |||||
Salaries | [1] | SFr 6,037 | SFr 6,230 | SFr 6,282 | |
Variable compensation - performance awards | [2] | 3,090 | 2,972 | 3,210 | |
of which: guarantees for new hires | 36 | 30 | 38 | ||
Variable compensation - other | [2] | 248 | 418 | 346 | |
of which: replacement payments | [3] | 71 | 86 | 76 | |
of which: forfeiture credits | (105) | (73) | (86) | ||
of which: severance payments | [4] | 111 | 217 | 157 | |
of which: retention plan and other payments | [5] | 171 | 188 | 198 | |
Wealth Management Americas: Financial advisor compensation | [2],[6] | 3,986 | 3,697 | 3,552 | |
Contractors | 451 | 420 | 365 | ||
Social security | 798 | 747 | 820 | ||
Pension and other post-employment benefit plans | [7],[8] | 710 | 670 | 808 | |
Other personnel expenses | 570 | 565 | 600 | ||
Total personnel expenses | [9] | 15,889 | 15,720 | 15,981 | |
Net restructuring expenses included in personnel expense | 534 | 751 | 460 | ||
UBS AG | |||||
Personnel Expenses [Line Items] | |||||
Salaries | [1] | 5,323 | 6,136 | 6,260 | |
Variable compensation - performance awards | [2] | 2,996 | 2,963 | 3,209 | |
of which: guarantees for new hires | 36 | 30 | 38 | ||
Variable compensation - other | [2] | 227 | 418 | 346 | |
of which: replacement payments | [3] | 69 | 86 | 76 | |
of which: forfeiture credits | (104) | (73) | (86) | ||
of which: severance payments | [4] | 93 | 217 | 157 | |
of which: retention plan and other payments | [5] | 169 | 188 | 198 | |
Wealth Management Americas: Financial advisor compensation | [2],[6] | 3,986 | 3,697 | 3,552 | |
Contractors | 313 | 420 | 365 | ||
Social security | 717 | 734 | 817 | ||
Pension and other post-employment benefit plans | [7],[8] | 591 | 669 | 807 | |
Other personnel expenses | 521 | 554 | 597 | ||
Total personnel expenses | [10] | 14,673 | [11] | 15,591 | 15,954 |
Net restructuring expenses included in personnel expense | SFr 362 | SFr 731 | SFr 458 | ||
[1] | Includes role-based allowances. | ||||
[2] | Refer to Note 27 for more information. | ||||
[3] | Replacement payments are payments made to compensate employees for deferred awards forfeited as a result of joining UBS. | ||||
[4] | Includes legally obligated and standard severance payments. | ||||
[5] | Includes interest expense related to Deferred Contingent Capital Plan awards. | ||||
[6] | Financial advisor compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated based on financial advisor productivity, firm tenure, assets and other variables. It also includes expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. | ||||
[7] | Refer to Note 26 for more information. | ||||
[8] | Refer to Note 6. | ||||
[9] | Includes net restructuring expenses of CHF 534 million, CHF 751 million and CHF 460 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||
[10] | Includes net restructuring expenses of CHF 362 million, CHF 731 million and CHF 458 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||
[11] | The decrease in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. |
General and administrative e122
General and administrative expenses (Details) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
General And Administrative Expenses [Line Items] | |||||
Occupancy | SFr 890 | SFr 935 | SFr 930 | ||
Rent and maintenance of IT and other equipment | 560 | 511 | 510 | ||
Communication and market data services | 610 | 626 | 611 | ||
Administration | [1] | 600 | 713 | 718 | |
Marketing and public relations | 411 | 467 | 486 | ||
Travel and entertainment | 416 | 423 | 460 | ||
Professional fees | 1,202 | 1,234 | 1,354 | ||
Outsourcing of IT and other services | 1,566 | 1,637 | 1,743 | ||
Provisions for litigation, regulatory and similar matters | [2] | 420 | 795 | 1,087 | |
Other | 132 | 93 | 208 | ||
Total general and administrative expenses | [3] | 6,808 | 7,434 | 8,107 | |
Recoveries from third parties | 53 | 13 | 10 | ||
Net restructuring expenses included in general and administrative expense | 627 | 695 | 761 | ||
UK bank levy net expenses | 17 | 123 | 166 | ||
UK bank levy credit from prior years | 82 | ||||
UBS AG | |||||
General And Administrative Expenses [Line Items] | |||||
Occupancy | 848 | 921 | 928 | ||
Rent and maintenance of IT and other equipment | 415 | 511 | 510 | ||
Communication and market data services | 534 | 624 | 610 | ||
Administration | [1] | 3,560 | 1,069 | 855 | |
of which: shared service costs charged by UBS Group AG or its subsidiaries | 2,974 | [4] | 365 | 223 | |
Marketing and public relations | 332 | 465 | 484 | ||
Travel and entertainment | 374 | 411 | 456 | ||
Professional fees | 1,064 | 1,225 | 1,351 | ||
Outsourcing of IT and other services | 1,147 | 1,592 | 1,742 | ||
Provisions for litigation, regulatory and similar matters | [2] | 420 | 795 | 1,087 | |
Other | 116 | 78 | 195 | ||
Total general and administrative expenses | [5] | 8,811 | [4] | 7,690 | 8,219 |
Recoveries from third parties | 53 | 13 | 10 | ||
Net restructuring expenses included in general and administrative expense | 818 | 700 | 760 | ||
UK bank levy net expenses | 17 | SFr 123 | SFr 166 | ||
UK bank levy credit from prior years | SFr 82 | ||||
[1] | Administration costs include net expenses related to the UK bank levy of CHF 17 million, CHF 123 million and CHF 166 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. 2017 included a CHF 82 million credit related to prior years. | ||||
[2] | Reflects the net increase in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 20 for more information. Also includes recoveries from third parties of CHF 53 million, CHF 13 million and CHF 10 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. | ||||
[3] | Includes net restructuring expenses of CHF 627 million, CHF 695 million and CHF 761 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||
[4] | The increase in 2017 in shared services costs charged by UBS Group AG or its subsidiaries and the associated decrease in certain direct cost lines were mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. | ||||
[5] | Includes net restructuring expenses of CHF 818 million, CHF 700 million and CHF 760 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. |
Income taxes (Narrative) (Detai
Income taxes (Narrative) (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure Income Taxes [Line Items] | |||
Deferred tax assets recognized by UBS entities that incurred losses in either the current or preceding year based on projections of future taxable profits | SFr 1,231 | SFr 1,689 | |
Description of tax laws applicable to unused tax losses | In general, Swiss tax losses can be carried forward for seven years, US federal tax losses incurred before 31 December 2017 for 20 years and US federal tax losses incurred after 31 December 2017 and also UK and Jersey tax losses for an unlimited period. | ||
Undistributed earnings of subsidiaries that are indefinitely invested, of which deferred tax liabilities are recognized | SFr 0 | ||
Net tax expense | 4,139 | 805 | SFr (898) |
Deferred tax expense / (income) relating to changes in tax rates | SFr 2,865 | ||
Explanation of changes in applicable tax rates to previous accounting period | reduction in the US federal corporate tax rate to 21% from 35% after the enactment of the TCJA during the fourth quarter of 2017. | ||
Swiss | |||
Disclosure Income Taxes [Line Items] | |||
Net tax expense | SFr 485 | ||
Non-Swiss | |||
Disclosure Income Taxes [Line Items] | |||
Net tax expense | 3,654 | ||
UBS AG | |||
Disclosure Income Taxes [Line Items] | |||
Deferred tax assets recognized by UBS entities that incurred losses in either the current or preceding year based on projections of future taxable profits | SFr 1,185 | 1,689 | |
Description of tax laws applicable to unused tax losses | In general, Swiss tax losses can be carried forward for seven years, US federal tax losses incurred before 31 December 2017 for 20 years and US federal tax losses incurred after 31 December 2017 and also UK and Jersey tax losses for an unlimited period. | ||
Undistributed earnings of subsidiaries that are indefinitely invested, of which deferred tax liabilities are recognized | SFr 0 | ||
Net tax expense | 4,077 | SFr 781 | SFr (908) |
Deferred tax expense / (income) relating to changes in tax rates | SFr 2,865 | ||
Explanation of changes in applicable tax rates to previous accounting period | reduction in the US federal corporate tax rate to 21% from 35% after the enactment of the TCJA during the fourth quarter of 2017. | ||
UBS AG | Swiss | |||
Disclosure Income Taxes [Line Items] | |||
Net tax expense | SFr 423 | ||
UBS AG | Non-Swiss | |||
Disclosure Income Taxes [Line Items] | |||
Net tax expense | SFr 3,654 |
Income taxes (Detail 1)
Income taxes (Detail 1) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Major Components Of Tax Expense Income [Line Items] | |||
Total income tax expense / (benefit) recognized in the income statement | SFr 4,139 | SFr 805 | SFr (898) |
Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Total income tax expense / (benefit) recognized in the income statement | 485 | ||
Non-Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Total income tax expense / (benefit) recognized in the income statement | 3,654 | ||
Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Current | 448 | 459 | 239 |
Deferred | 37 | 635 | 330 |
Non-Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Current | 427 | 353 | 476 |
Deferred | 3,227 | (642) | (1,943) |
UBS AG | |||
Major Components Of Tax Expense Income [Line Items] | |||
Total income tax expense / (benefit) recognized in the income statement | 4,077 | 781 | (908) |
UBS AG | Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Total income tax expense / (benefit) recognized in the income statement | 423 | ||
UBS AG | Non-Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Total income tax expense / (benefit) recognized in the income statement | 3,654 | ||
UBS AG | Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Current | 402 | 429 | 230 |
Deferred | 21 | 635 | 329 |
UBS AG | Non-Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Current | 427 | 350 | 476 |
Deferred | SFr 3,227 | SFr (633) | SFr (1,943) |
Income taxes (Detail 2)
Income taxes (Detail 2) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Major Components Of Tax Expense Income [Line Items] | |||
Operating profit / (loss) before tax | SFr 5,268 | SFr 4,090 | SFr 5,489 |
Income taxes at Swiss tax rate of 21% | 1,106 | 859 | 1,153 |
Increase / (decrease) resulting from: | |||
Non-Swiss tax rates differing from Swiss tax rate | 211 | 74 | (73) |
Tax effects of losses not recognized | 168 | 185 | 107 |
Previously unrecognized tax losses now utilized | (358) | (39) | (107) |
Non-taxable and lower taxed income | (301) | (353) | (297) |
Non-deductible expenses and additional taxable income | 591 | 950 | 541 |
Adjustments related to prior years - current tax | (13) | 22 | 29 |
Adjustments related to prior years - deferred tax | 4 | 2 | (48) |
Change in deferred tax valuation allowances | (161) | (986) | (2,419) |
Adjustments to deferred tax balances arising from changes in tax rates | 2,824 | 19 | 190 |
Other items | 67 | 72 | 27 |
Income tax expense / (benefit) | SFr 4,139 | 805 | (898) |
Applicable tax rate | 21.00% | ||
Swiss | |||
Increase / (decrease) resulting from: | |||
Income tax expense / (benefit) | SFr 485 | ||
Non-Swiss | |||
Increase / (decrease) resulting from: | |||
Income tax expense / (benefit) | 3,654 | ||
Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Operating profit / (loss) before tax | 2,057 | 2,629 | 3,753 |
Non-Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Operating profit / (loss) before tax | 3,211 | 1,461 | 1,736 |
UBS AG | |||
Major Components Of Tax Expense Income [Line Items] | |||
Operating profit / (loss) before tax | 4,998 | 4,069 | 5,407 |
Income taxes at Swiss tax rate of 21% | 1,050 | 854 | 1,135 |
Increase / (decrease) resulting from: | |||
Non-Swiss tax rates differing from Swiss tax rate | 224 | 71 | (69) |
Tax effects of losses not recognized | 168 | 185 | 107 |
Previously unrecognized tax losses now utilized | (358) | (39) | (107) |
Non-taxable and lower taxed income | (298) | (343) | (273) |
Non-deductible expenses and additional taxable income | 573 | 914 | 519 |
Adjustments related to prior years - current tax | (13) | 22 | 29 |
Adjustments related to prior years - deferred tax | 5 | 2 | (48) |
Change in deferred tax valuation allowances | (161) | (978) | (2,419) |
Adjustments to deferred tax balances arising from changes in tax rates | 2,824 | 19 | 191 |
Other items | 63 | 72 | 26 |
Income tax expense / (benefit) | SFr 4,077 | 781 | (908) |
Applicable tax rate | 21.00% | ||
UBS AG | Swiss | |||
Increase / (decrease) resulting from: | |||
Income tax expense / (benefit) | SFr 423 | ||
UBS AG | Non-Swiss | |||
Increase / (decrease) resulting from: | |||
Income tax expense / (benefit) | 3,654 | ||
UBS AG | Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Operating profit / (loss) before tax | 1,878 | 2,607 | 3,665 |
UBS AG | Non-Swiss | |||
Major Components Of Tax Expense Income [Line Items] | |||
Operating profit / (loss) before tax | SFr 3,120 | SFr 1,462 | SFr 1,742 |
Income taxes - DTA (Detail 3.1)
Income taxes - DTA (Detail 3.1) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | SFr 22,011 | SFr 30,973 |
Valuation allowance | (12,166) | (17,818) |
Recognized | 9,844 | 13,155 |
Tax loss carry-forwards | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 16,934 | 24,627 |
Valuation allowance | (11,191) | (16,430) |
Recognized | 5,743 | 8,197 |
Temporary differences | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 5,077 | 6,346 |
Valuation allowance | (975) | (1,388) |
Recognized | 4,102 | 4,958 |
of which: related to compensation and benefits | Temporary differences | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 1,136 | 1,420 |
Valuation allowance | (222) | (208) |
Recognized | 914 | 1,211 |
of which: related to trading assets | Temporary differences | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 473 | 935 |
Valuation allowance | (58) | (118) |
Recognized | 414 | 817 |
of which: related to investments in subsidiaries and goodwill | Temporary differences | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 2,374 | 2,059 |
Valuation allowance | 0 | 0 |
Recognized | 2,374 | 2,059 |
of which: other | Temporary differences | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 1,095 | 1,932 |
Valuation allowance | (695) | (1,062) |
Recognized | 400 | 870 |
UBS AG | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 21,949 | 30,962 |
Valuation allowance | (12,166) | (17,818) |
Recognized | 9,783 | 13,144 |
UBS AG | Tax loss carry-forwards | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 16,934 | 24,627 |
Valuation allowance | (11,191) | (16,430) |
Recognized | 5,743 | 8,197 |
UBS AG | Temporary differences | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 5,016 | 6,335 |
Valuation allowance | (975) | (1,388) |
Recognized | 4,040 | 4,947 |
UBS AG | of which: related to compensation and benefits | Temporary differences | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 1,133 | 1,419 |
Valuation allowance | (222) | (208) |
Recognized | 911 | 1,211 |
UBS AG | of which: related to trading assets | Temporary differences | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 473 | 935 |
Valuation allowance | (58) | (118) |
Recognized | 414 | 817 |
UBS AG | of which: related to investments in subsidiaries and goodwill | Temporary differences | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 2,327 | 2,059 |
Valuation allowance | 0 | 0 |
Recognized | 2,327 | 2,059 |
UBS AG | of which: other | Temporary differences | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Gross | 1,083 | 1,922 |
Valuation allowance | (695) | (1,062) |
Recognized | SFr 388 | SFr 859 |
Income taxes - DTL (Detail 3.2)
Income taxes - DTL (Detail 3.2) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Deferred Tax Liabilities [Line Items] | ||
Goodwill and intangible assets | SFr 18 | SFr 24 |
Other | 34 | 20 |
Total deferred tax liabilities | 53 | 44 |
UBS AG | ||
Disclosure Of Deferred Tax Liabilities [Line Items] | ||
Goodwill and intangible assets | 18 | 24 |
Other | 31 | 20 |
Total deferred tax liabilities | SFr 49 | SFr 44 |
Income taxes (Detail 4)
Income taxes (Detail 4) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | SFr 46,232 | SFr 49,478 |
Within 1 year | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | 167 | 0 |
From 2 to 5 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | 103 | 66 |
From 6 to 10 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | 3,185 | 910 |
From 11 to 20 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | 26,015 | 32,603 |
No expiry | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | 16,762 | 15,899 |
UBS AG | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | 46,232 | 49,477 |
UBS AG | Within 1 year | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | 167 | 0 |
UBS AG | From 2 to 5 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | 103 | 66 |
UBS AG | From 6 to 10 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | 3,185 | 909 |
UBS AG | From 11 to 20 years | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | 26,015 | 32,603 |
UBS AG | No expiry | ||
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Total | SFr 16,762 | SFr 15,899 |
Earnings per share and share129
Earnings per share and shares outstanding (Detail 1) - CHF (SFr) SFr / shares in Units, SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Basic earnings (CHF million) | |||
Net profit / (loss) attributable to shareholders | SFr 1,053 | SFr 3,204 | SFr 6,203 |
Diluted earnings (CHF million) | |||
Net profit / (loss) attributable to shareholders | 1,053 | 3,204 | 6,203 |
Less: (profit) / loss on own equity derivative contracts | 0 | 0 | 0 |
Net profit / (loss) attributable to shareholders for diluted EPS | SFr 1,053 | SFr 3,204 | SFr 6,203 |
Weighted average shares outstanding | |||
Weighted average shares outstanding for basic EPS | 3,716,174,261 | 3,719,764,322 | 3,690,375,879 |
Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding | 120,540,272 | 104,244,665 | 90,898,386 |
Weighted average shares outstanding for diluted EPS | 3,836,714,533 | 3,824,008,987 | 3,781,274,265 |
Earnings per share (CHF) | |||
Basic | SFr 0.28 | SFr 0.86 | SFr 1.68 |
Diluted | SFr 0.27 | SFr 0.84 | SFr 1.64 |
Shares outstanding | |||
Shares issued | 3,853,096,603 | 3,850,766,389 | 3,849,731,535 |
Treasury shares | 132,301,550 | 138,441,772 | 98,706,275 |
Shares outstanding | 3,720,795,053 | 3,712,324,617 | 3,751,025,260 |
UBS AG | |||
Basic earnings (CHF million) | |||
Net profit / (loss) attributable to shareholders | SFr 845 | SFr 3,207 | SFr 6,235 |
Diluted earnings (CHF million) | |||
Net profit / (loss) attributable to shareholders | SFr 845 | SFr 3,207 | SFr 6,235 |
Earnings per share and share130
Earnings per share and shares outstanding (Detail 2) - shares | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Potentially Dilutive Instruments [Line Items] | |||
Employee share-based compensation awards | 24,124,341 | 46,981,698 | 67,766,835 |
Other equity derivative contracts | 9,122,496 | 8,419,122 | 6,061,848 |
Total | 33,246,837 | 55,400,820 | 73,828,683 |
Due from banks and loans (Detai
Due from banks and loans (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Loans And Leases Receivable Disclosure [Line Items] | |||
Due from banks, gross | SFr 13,741 | SFr 13,159 | |
Allowance for credit losses | (3) | (3) | |
Due from banks, net | [1] | 13,739 | 13,156 |
Loan, gross | 320,225 | 306,921 | |
Allowance for credit losses | (658) | (596) | |
Loans, net | [1],[2] | 319,568 | 306,325 |
Total due from banks and loans, net | [3] | 333,306 | 319,481 |
Residential mortgages | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | 144,431 | 142,197 | |
Commercial mortgages | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | 18,717 | 19,765 | |
Lombard loans | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | 115,059 | 104,999 | |
Other loans | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | [4] | 38,837 | 36,481 |
Finance lease receivables | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | [5] | 1,069 | 986 |
Securities | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | 2,113 | 2,494 | |
UBS AG | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Due from banks, gross | 13,695 | 13,128 | |
Allowance for credit losses | (3) | (3) | |
Due from banks, net | [1] | 13,693 | 13,125 |
Loan, gross | 322,376 | 307,601 | |
Allowance for credit losses | (658) | (596) | |
Loans, net | [1],[2] | 321,718 | 307,004 |
Total due from banks and loans, net | [3] | 335,411 | 320,129 |
UBS AG | Residential mortgages | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | 144,431 | 142,197 | |
UBS AG | Commercial mortgages | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | 18,717 | 19,765 | |
UBS AG | Lombard loans | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | 115,059 | 104,999 | |
UBS AG | Other loans | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | [4] | 40,987 | 37,160 |
UBS AG | Finance lease receivables | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | [5] | 1,069 | 986 |
UBS AG | Securities | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Loan, gross | SFr 2,113 | SFr 2,494 | |
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | ||
[2] | Includes finance lease receivables of CHF 1.1 billion as of 31 December 2017 (31 December 2016: CHF 1.0 billion). Refer to Notes 10 and 31 for more information. | ||
[3] | Refer to Note 25b for more information on collateral and credit enhancements. | ||
[4] | Includes corporate loans. | ||
[5] | Refer to Note 31 for more information. |
Allowances and provisions fo132
Allowances and provisions for credit losses (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | ||||
By movement | |||||
Balance at the beginning of the year | SFr 653 | SFr 727 | |||
Write-offs / usage of provisions | (117) | (145) | |||
Recoveries | 20 | 22 | |||
Increase / (decrease) recognized in the income statement | 128 | 37 | |||
Foreign currency translation | (7) | 0 | |||
Other | 37 | 12 | |||
Balance at the end of the year | 713 | 653 | |||
By balance sheet line | |||||
Due from banks | 3 | 3 | |||
Loans | 658 | 596 | |||
Other receivables | 19 | 0 | |||
Provisions | 33 | 54 | |||
Balance at the end of the year | 713 | 653 | |||
Specific allowances | |||||
By movement | |||||
Balance at the beginning of the year | 587 | ||||
Write-offs / usage of provisions | (115) | ||||
Recoveries | 19 | ||||
Increase / (decrease) recognized in the income statement | 145 | ||||
Foreign currency translation | (7) | ||||
Other | 19 | ||||
Balance at the end of the year | 648 | 587 | |||
By balance sheet line | |||||
Due from banks | 3 | ||||
Loans | 645 | ||||
Balance at the end of the year | 648 | 587 | |||
Collective allowances | |||||
By movement | |||||
Balance at the beginning of the year | 12 | ||||
Write-offs / usage of provisions | (2) | ||||
Recoveries | 1 | ||||
Increase / (decrease) recognized in the income statement | 3 | ||||
Foreign currency translation | 0 | ||||
Other | 0 | ||||
Balance at the end of the year | 13 | 12 | |||
By balance sheet line | |||||
Due from banks | 0 | ||||
Loans | 13 | ||||
Balance at the end of the year | 13 | 12 | |||
Total allowances | |||||
By movement | |||||
Balance at the beginning of the year | 599 | ||||
Write-offs / usage of provisions | (117) | ||||
Recoveries | 19 | ||||
Increase / (decrease) recognized in the income statement | 148 | ||||
Foreign currency translation | (7) | ||||
Other | 19 | ||||
Balance at the end of the year | 661 | 599 | |||
By balance sheet line | |||||
Due from banks | 3 | ||||
Loans | 658 | ||||
Balance at the end of the year | 661 | 599 | |||
Allowances - other assets | |||||
By movement | |||||
Balance at the beginning of the year | 0 | ||||
Write-offs / usage of provisions | 0 | ||||
Recoveries | 0 | ||||
Increase / (decrease) recognized in the income statement | 0 | ||||
Foreign currency translation | 0 | ||||
Other | 18 | ||||
Balance at the end of the year | 19 | 0 | |||
By balance sheet line | |||||
Other receivables | 19 | ||||
Balance at the end of the year | 19 | 0 | |||
Provisions | |||||
By movement | |||||
Balance at the beginning of the year | [1] | 54 | |||
Write-offs / usage of provisions | [1] | 0 | |||
Recoveries | [1] | 0 | |||
Increase / (decrease) recognized in the income statement | [1] | (21) | |||
Foreign currency translation | [1] | 0 | |||
Other | [1] | 0 | |||
Balance at the end of the year | 33 | [2] | 54 | [1] | |
By balance sheet line | |||||
Provisions | [2] | 33 | |||
Balance at the end of the year | 33 | [2] | 54 | [1] | |
UBS AG | |||||
By movement | |||||
Balance at the beginning of the year | 653 | 727 | |||
Write-offs / usage of provisions | (117) | (145) | |||
Recoveries | 20 | 22 | |||
Increase / (decrease) recognized in the income statement | 128 | 37 | |||
Foreign currency translation | (7) | 0 | |||
Other | 37 | 12 | |||
Balance at the end of the year | 713 | 653 | |||
By balance sheet line | |||||
Due from banks | 3 | 3 | |||
Loans | 658 | 596 | |||
Other receivables | 19 | 0 | |||
Provisions | 33 | 54 | |||
Balance at the end of the year | 713 | 653 | |||
UBS AG | Specific allowances | |||||
By movement | |||||
Balance at the beginning of the year | 587 | ||||
Write-offs / usage of provisions | (115) | ||||
Recoveries | 19 | ||||
Increase / (decrease) recognized in the income statement | 145 | ||||
Foreign currency translation | (7) | ||||
Other | 19 | ||||
Balance at the end of the year | 648 | 587 | |||
By balance sheet line | |||||
Due from banks | 3 | ||||
Loans | 645 | ||||
Balance at the end of the year | 648 | 587 | |||
UBS AG | Collective allowances | |||||
By movement | |||||
Balance at the beginning of the year | 12 | ||||
Write-offs / usage of provisions | (2) | ||||
Recoveries | 1 | ||||
Increase / (decrease) recognized in the income statement | 3 | ||||
Foreign currency translation | 0 | ||||
Other | 0 | ||||
Balance at the end of the year | 13 | 12 | |||
By balance sheet line | |||||
Due from banks | 0 | ||||
Loans | 13 | ||||
Balance at the end of the year | 13 | 12 | |||
UBS AG | Total allowances | |||||
By movement | |||||
Balance at the beginning of the year | 599 | ||||
Write-offs / usage of provisions | (117) | ||||
Recoveries | 19 | ||||
Increase / (decrease) recognized in the income statement | 148 | ||||
Foreign currency translation | (7) | ||||
Other | 19 | ||||
Balance at the end of the year | 661 | 599 | |||
By balance sheet line | |||||
Due from banks | 3 | ||||
Loans | 658 | ||||
Balance at the end of the year | 661 | 599 | |||
UBS AG | Allowances - other assets | |||||
By movement | |||||
Balance at the beginning of the year | 0 | ||||
Write-offs / usage of provisions | 0 | ||||
Recoveries | 0 | ||||
Increase / (decrease) recognized in the income statement | 0 | ||||
Foreign currency translation | 0 | ||||
Other | 18 | ||||
Balance at the end of the year | 19 | 0 | |||
By balance sheet line | |||||
Other receivables | 19 | ||||
Balance at the end of the year | 19 | 0 | |||
UBS AG | Provisions | |||||
By movement | |||||
Balance at the beginning of the year | [1] | 54 | |||
Write-offs / usage of provisions | [1] | 0 | |||
Recoveries | [1] | 0 | |||
Increase / (decrease) recognized in the income statement | [1] | (21) | |||
Foreign currency translation | [1] | 0 | |||
Other | [1] | 0 | |||
Balance at the end of the year | 33 | [2] | 54 | [1] | |
By balance sheet line | |||||
Provisions | [2] | 33 | |||
Balance at the end of the year | SFr 33 | [2] | SFr 54 | [1] | |
[1] | Represents provisions for loan commitments and guarantees. Refer to Note 20 for more information. Refer to the “Treasury management” section of this report for the maximum irrevocable amount of loan commitments and guarantees. | ||||
[2] | Represents provisions for loan commitments and guarantees. |
Derivative instruments (Detail
Derivative instruments (Detail 1) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | ||
Derivative [Line Items] | ||||
PRV | [1],[2],[3],[4] | SFr 118,227 | SFr 158,411 | |
Notional values related to PRV | [2],[4],[5] | 4,062,600 | 4,084,000 | |
NRV | [2],[4],[8] | 116,133 | [6],[7],[9] | 153,810 |
Notional values related to NRV | [2],[4],[5] | 3,878,300 | 3,859,600 | |
Other notional values | [2],[4],[5],[10] | 10,555,000 | 9,799,300 | |
Derivative loan commitments | 0 | 100 | ||
Maximum irrevocable amount of derivative loan commitments | 5,300 | 14,300 | ||
Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 44,000 | 58,000 | |
Notional values related to PRV | [2],[5] | 1,142,100 | 1,152,400 | |
NRV | [2],[8] | 38,400 | 52,500 | |
Notional values related to NRV | [2],[5] | 1,043,600 | 1,059,600 | |
Other notional values | [2],[5],[10] | 10,462,200 | 9,729,600 | |
Credit derivative contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 2,800 | 3,900 | |
Notional values related to PRV | [2],[5] | 91,800 | 123,100 | |
NRV | [2],[8] | 3,800 | 4,800 | |
Notional values related to NRV | [2],[5] | 98,300 | 139,600 | |
Other notional values | [2],[5],[10] | 1,200 | ||
Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 47,100 | 76,100 | |
Notional values related to PRV | [2],[5] | 2,388,500 | 2,469,600 | |
NRV | [2],[8] | 45,500 | 72,100 | |
Notional values related to NRV | [2],[5] | 2,193,300 | 2,285,600 | |
Other notional values | [2],[5],[10] | 400 | 6,100 | |
Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 22,200 | 18,000 | |
Notional values related to PRV | [2],[5] | 380,300 | 268,600 | |
NRV | [2],[8] | 26,700 | 22,100 | |
Notional values related to NRV | [2],[5] | 486,600 | 317,600 | |
Other notional values | [2],[5],[10] | 82,900 | 54,500 | |
Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 1,700 | 2,300 | |
Notional values related to PRV | [2],[5] | 33,100 | 39,000 | |
NRV | [2],[8] | 1,600 | 2,000 | |
Notional values related to NRV | [2],[5] | 36,900 | 35,900 | |
Other notional values | [2],[5],[10] | 8,400 | 9,100 | |
Unsettled purchases of non-derivative financial instruments | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[11] | 100 | 100 | |
Notional values related to PRV | [2],[5],[11] | 12,000 | 18,400 | |
NRV | [2],[8],[11] | 100 | 100 | |
Notional values related to NRV | [2],[5],[11] | 10,900 | 9,700 | |
Unsettled sales of non-derivative financial instruments | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[11] | 100 | 100 | |
Notional values related to PRV | [2],[5],[11] | 14,800 | 13,000 | |
NRV | [2],[8],[11] | 100 | 200 | |
Notional values related to NRV | [2],[5],[11] | 8,700 | 11,500 | |
Forward contracts | Over-the-counter (OTC) contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[12] | 100 | 100 | |
Notional values related to PRV | [2],[5],[12] | 22,100 | 29,600 | |
NRV | [2],[8],[12] | 300 | 100 | |
Notional values related to NRV | [2],[5],[12] | 8,200 | 21,900 | |
Other notional values | [2],[5],[10],[12] | 2,321,100 | 2,242,800 | |
Forward contracts | Over-the-counter (OTC) contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 17,200 | 21,800 | |
Notional values related to PRV | [2],[5] | 681,400 | 715,600 | |
NRV | [2],[8] | 17,800 | 19,000 | |
Notional values related to NRV | [2],[5] | 691,600 | 650,900 | |
Forward contracts | Over-the-counter (OTC) contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 0 | 0 | |
Notional values related to PRV | [2],[5] | 0 | 0 | |
NRV | [2],[8] | 0 | 0 | |
Notional values related to NRV | [2],[5] | 0 | 0 | |
Forward contracts | Over-the-counter (OTC) contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 100 | 300 | |
Notional values related to PRV | [2],[5] | 2,900 | 4,800 | |
NRV | [2],[8] | 100 | 100 | |
Notional values related to NRV | [2],[5] | 3,800 | 2,700 | |
Forward contracts | Exchange-traded contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 200 | 100 | |
Notional values related to PRV | [2],[5] | 9,400 | 5,900 | |
NRV | [2],[8] | 0 | 0 | |
Notional values related to NRV | [2],[5] | 7,900 | 4,600 | |
Swaps | Over-the-counter (OTC) contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 35,400 | 45,200 | |
Notional values related to PRV | [2],[5] | 539,200 | 599,300 | |
NRV | [2],[8] | 28,200 | 38,300 | |
Notional values related to NRV | [2],[5] | 453,700 | 552,600 | |
Other notional values | [2],[5],[10] | 7,530,200 | 7,064,200 | |
Swaps | Over-the-counter (OTC) contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 3,400 | 3,600 | |
Notional values related to PRV | [2],[5] | 71,200 | 76,500 | |
NRV | [2],[8] | 5,500 | 4,800 | |
Notional values related to NRV | [2],[5] | 100,400 | 69,000 | |
Swaps | Over-the-counter (OTC) contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 200 | 400 | |
Notional values related to PRV | [2],[5] | 8,500 | 10,900 | |
NRV | [2],[8] | 400 | 500 | |
Notional values related to NRV | [2],[5] | 12,800 | 13,400 | |
Options | Over-the-counter (OTC) contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 8,500 | 12,600 | |
Notional values related to PRV | [2],[5] | 558,100 | 478,100 | |
NRV | [2],[8] | 9,800 | 13,900 | |
Notional values related to NRV | [2],[5] | 547,200 | 480,600 | |
Options | Over-the-counter (OTC) contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 6,100 | 11,100 | |
Notional values related to PRV | [2],[5] | 427,000 | 530,300 | |
NRV | [2],[8] | 5,800 | 11,000 | |
Notional values related to NRV | [2],[5] | 397,600 | 513,700 | |
Options | Over-the-counter (OTC) contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 5,800 | 3,700 | |
Notional values related to PRV | [2],[5] | 76,600 | 49,600 | |
NRV | [2],[8] | 8,200 | 5,800 | |
Notional values related to NRV | [2],[5] | 125,000 | 92,800 | |
Options | Over-the-counter (OTC) contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 300 | 500 | |
Notional values related to PRV | [2],[5] | 11,300 | 14,100 | |
NRV | [2],[8] | 100 | 200 | |
Notional values related to NRV | [2],[5] | 7,900 | 9,900 | |
Options | Exchange-traded contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 0 | 0 | |
Notional values related to PRV | [2],[5] | 22,700 | 45,400 | |
NRV | [2],[8] | 0 | 0 | |
Notional values related to NRV | [2],[5] | 34,400 | 4,500 | |
Other notional values | [2],[5],[10] | 155,400 | 96,200 | |
Options | Exchange-traded contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 0 | 0 | |
Notional values related to PRV | [2],[5] | 4,700 | 2,900 | |
NRV | [2],[8] | 100 | 100 | |
Notional values related to NRV | [2],[5] | 5,600 | 6,000 | |
Options | Exchange-traded contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 6,900 | 3,800 | |
Notional values related to PRV | [2],[5] | 232,600 | 142,500 | |
NRV | [2],[8] | 6,900 | 4,600 | |
Notional values related to NRV | [2],[5] | 261,200 | 155,800 | |
Other notional values | [2],[5],[10] | 31,000 | 21,600 | |
Options | Exchange-traded contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 0 | 0 | |
Notional values related to PRV | [2],[5] | 1,000 | 3,200 | |
NRV | [2],[8] | 100 | 100 | |
Notional values related to NRV | [2],[5] | 4,400 | 5,300 | |
Other notional values | [2],[5],[10] | 300 | 0 | |
Futures | Exchange-traded contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
Other notional values | [2],[5],[10] | 455,600 | 326,400 | |
Futures | Exchange-traded contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
Other notional values | [5],[10] | 400 | 6,100 | |
Futures | Exchange-traded contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
Other notional values | [2],[5],[10] | 51,900 | 33,000 | |
Futures | Exchange-traded contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
Other notional values | [2],[5],[10] | 8,200 | 9,100 | |
Agency transactions | Exchange-traded contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[13] | 0 | 200 | |
NRV | [2],[8],[13] | 0 | 200 | |
Agency transactions | Exchange-traded contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[13] | 0 | 0 | |
NRV | [2],[8],[13] | 0 | 0 | |
Agency transactions | Exchange-traded contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[13] | 6,200 | 6,900 | |
NRV | [2],[8],[13] | 6,100 | 6,900 | |
Agency transactions | Exchange-traded contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[13] | 900 | 900 | |
NRV | [2],[8],[13] | 900 | 900 | |
Credit default swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 2,700 | 3,700 | |
Notional values related to PRV | [2],[5] | 85,200 | 116,900 | |
NRV | [2],[8] | 3,000 | 3,900 | |
Notional values related to NRV | [2],[5] | 94,400 | 135,200 | |
Other notional values | [2],[5],[10] | 1,200 | ||
Total return swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 200 | 200 | |
Notional values related to PRV | [2],[5] | 2,200 | 3,300 | |
NRV | [2],[8] | 800 | 900 | |
Notional values related to NRV | [2],[5] | 3,900 | 4,300 | |
Options and warrants | Over-the-counter (OTC) contracts | Credit derivative contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 0 | 0 | |
Notional values related to PRV | [2],[5] | 4,300 | 2,900 | |
NRV | [2],[8] | 0 | 0 | |
Notional values related to NRV | [2],[5] | 100 | 100 | |
Interest and currency swaps | Over-the-counter (OTC) contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 23,800 | 43,200 | |
Notional values related to PRV | [2],[5] | 1,275,500 | 1,220,800 | |
NRV | [2],[8] | 21,800 | 42,000 | |
Notional values related to NRV | [2],[5] | 1,098,400 | 1,115,000 | |
UBS AG | ||||
Derivative [Line Items] | ||||
PRV | [1],[2],[3],[4] | 118,229 | 158,411 | |
Notional values related to PRV | [2],[4],[5] | 4,062,600 | 4,084,000 | |
NRV | [2],[4],[8] | 116,134 | [6],[7],[9] | 153,810 |
Notional values related to NRV | [2],[4],[5] | 3,878,300 | 3,859,600 | |
Other notional values | [2],[4],[5],[10] | 10,555,000 | 9,799,300 | |
Derivative loan commitments | 0 | 100 | ||
Maximum irrevocable amount of derivative loan commitments | 5,300 | 14,300 | ||
UBS AG | Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 44,000 | 58,000 | |
Notional values related to PRV | [2],[5] | 1,142,100 | 1,152,400 | |
NRV | [2],[8] | 38,400 | 52,500 | |
Notional values related to NRV | [2],[5] | 1,043,600 | 1,059,600 | |
Other notional values | [2],[5],[10] | 10,462,200 | 9,729,600 | |
UBS AG | Credit derivative contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 2,800 | 3,900 | |
Notional values related to PRV | [2],[5] | 91,800 | 123,100 | |
NRV | [2],[8] | 3,800 | 4,800 | |
Notional values related to NRV | [2],[5] | 98,300 | 139,600 | |
Other notional values | [2],[5],[10] | 1,200 | ||
UBS AG | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 47,100 | 76,100 | |
Notional values related to PRV | [2],[5] | 2,388,500 | 2,469,600 | |
NRV | [2],[8] | 45,500 | 72,100 | |
Notional values related to NRV | [2],[5] | 2,193,300 | 2,285,600 | |
Other notional values | [2],[5],[10] | 400 | 6,100 | |
UBS AG | Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 22,200 | 18,000 | |
Notional values related to PRV | [2],[5] | 380,300 | 268,600 | |
NRV | [2],[8] | 26,700 | 22,100 | |
Notional values related to NRV | [2],[5] | 486,600 | 317,600 | |
Other notional values | [2],[5],[10] | 82,900 | 54,500 | |
UBS AG | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 1,700 | 2,300 | |
Notional values related to PRV | [2],[5] | 33,100 | 39,000 | |
NRV | [2],[8] | 1,600 | 2,000 | |
Notional values related to NRV | [2],[5] | 36,900 | 35,900 | |
Other notional values | [2],[5],[10] | 8,400 | 9,100 | |
UBS AG | Unsettled purchases of non-derivative financial instruments | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[11] | 100 | 100 | |
Notional values related to PRV | [2],[5],[11] | 12,000 | 18,400 | |
NRV | [2],[8],[11] | 100 | 100 | |
Notional values related to NRV | [2],[5],[11] | 10,900 | 9,700 | |
UBS AG | Unsettled sales of non-derivative financial instruments | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[11] | 100 | 100 | |
Notional values related to PRV | [2],[5],[11] | 14,800 | 13,000 | |
NRV | [2],[8],[11] | 100 | 200 | |
Notional values related to NRV | [2],[5],[11] | 8,700 | 11,500 | |
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[12] | 100 | 100 | |
Notional values related to PRV | [2],[5],[12] | 22,100 | 29,600 | |
NRV | [2],[8],[12] | 300 | 100 | |
Notional values related to NRV | [2],[5],[12] | 8,200 | 21,900 | |
Other notional values | [2],[5],[10],[12] | 2,321,100 | 2,242,800 | |
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 17,200 | 21,800 | |
Notional values related to PRV | [2],[5] | 681,400 | 715,600 | |
NRV | [2],[8] | 17,800 | 19,000 | |
Notional values related to NRV | [2],[5] | 691,600 | 650,900 | |
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 0 | 0 | |
Notional values related to PRV | [2],[5] | 0 | 0 | |
NRV | [2],[8] | 0 | 0 | |
Notional values related to NRV | [2],[5] | 0 | 0 | |
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 100 | 300 | |
Notional values related to PRV | [2],[5] | 2,900 | 4,800 | |
NRV | [2],[8] | 100 | 100 | |
Notional values related to NRV | [2],[5] | 3,800 | 2,700 | |
UBS AG | Forward contracts | Exchange-traded contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 200 | 100 | |
Notional values related to PRV | [2],[5] | 9,400 | 5,900 | |
NRV | [2],[8] | 0 | 0 | |
Notional values related to NRV | [2],[5] | 7,900 | 4,600 | |
UBS AG | Swaps | Over-the-counter (OTC) contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 35,400 | 45,200 | |
Notional values related to PRV | [2],[5] | 539,200 | 599,300 | |
NRV | [2],[8] | 28,200 | 38,300 | |
Notional values related to NRV | [2],[5] | 453,700 | 552,600 | |
Other notional values | [2],[5],[10] | 7,530,200 | 7,064,200 | |
UBS AG | Swaps | Over-the-counter (OTC) contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 3,400 | 3,600 | |
Notional values related to PRV | [2],[5] | 71,200 | 76,500 | |
NRV | [2],[8] | 5,500 | 4,800 | |
Notional values related to NRV | [2],[5] | 100,400 | 69,000 | |
UBS AG | Swaps | Over-the-counter (OTC) contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 200 | 400 | |
Notional values related to PRV | [2],[5] | 8,500 | 10,900 | |
NRV | [2],[8] | 400 | 500 | |
Notional values related to NRV | [2],[5] | 12,800 | 13,400 | |
UBS AG | Options | Over-the-counter (OTC) contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 8,500 | 12,600 | |
Notional values related to PRV | [2],[5] | 558,100 | 478,100 | |
NRV | [2],[8] | 9,800 | 13,900 | |
Notional values related to NRV | [2],[5] | 547,200 | 480,600 | |
UBS AG | Options | Over-the-counter (OTC) contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 6,100 | 11,100 | |
Notional values related to PRV | [2],[5] | 427,000 | 530,300 | |
NRV | [2],[8] | 5,800 | 11,000 | |
Notional values related to NRV | [2],[5] | 397,600 | 513,700 | |
UBS AG | Options | Over-the-counter (OTC) contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 5,800 | 3,700 | |
Notional values related to PRV | [2],[5] | 76,600 | 49,600 | |
NRV | [2],[8] | 8,200 | 5,800 | |
Notional values related to NRV | [2],[5] | 125,000 | 92,800 | |
UBS AG | Options | Over-the-counter (OTC) contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 300 | 500 | |
Notional values related to PRV | [2],[5] | 11,300 | 14,100 | |
NRV | [2],[8] | 100 | 200 | |
Notional values related to NRV | [2],[5] | 7,900 | 9,900 | |
UBS AG | Options | Exchange-traded contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 0 | 0 | |
Notional values related to PRV | [2],[5] | 22,700 | 45,400 | |
NRV | [2],[8] | 0 | 0 | |
Notional values related to NRV | [2],[5] | 34,400 | 4,500 | |
Other notional values | [2],[5],[10] | 155,400 | 96,200 | |
UBS AG | Options | Exchange-traded contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 0 | 0 | |
Notional values related to PRV | [2],[5] | 4,700 | 2,900 | |
NRV | [2],[8] | 100 | 100 | |
Notional values related to NRV | [2],[5] | 5,600 | 6,000 | |
UBS AG | Options | Exchange-traded contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 6,900 | 3,800 | |
Notional values related to PRV | [2],[5] | 232,600 | 142,500 | |
NRV | [2],[8] | 6,900 | 4,600 | |
Notional values related to NRV | [2],[5] | 261,200 | 155,800 | |
Other notional values | [2],[5],[10] | 31,000 | 21,600 | |
UBS AG | Options | Exchange-traded contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 0 | 0 | |
Notional values related to PRV | [2],[5] | 1,000 | 3,200 | |
NRV | [2],[8] | 100 | 100 | |
Notional values related to NRV | [2],[5] | 4,400 | 5,300 | |
Other notional values | [2],[5],[10] | 300 | 0 | |
UBS AG | Futures | Exchange-traded contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
Other notional values | [2],[5],[10] | 455,600 | 326,400 | |
UBS AG | Futures | Exchange-traded contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
Other notional values | [5],[10] | 400 | 6,100 | |
UBS AG | Futures | Exchange-traded contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
Other notional values | [2],[5],[10] | 51,900 | 33,000 | |
UBS AG | Futures | Exchange-traded contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
Other notional values | [2],[5],[10] | 8,200 | 9,100 | |
UBS AG | Agency transactions | Exchange-traded contracts | Interest rate contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[13] | 0 | 200 | |
NRV | [2],[8],[13] | 0 | 200 | |
UBS AG | Agency transactions | Exchange-traded contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[13] | 0 | 0 | |
NRV | [2],[8],[13] | 0 | 0 | |
UBS AG | Agency transactions | Exchange-traded contracts | Equity / index contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[13] | 6,200 | 6,900 | |
NRV | [2],[8],[13] | 6,100 | 6,900 | |
UBS AG | Agency transactions | Exchange-traded contracts | Commodity contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3],[13] | 900 | 900 | |
NRV | [2],[8],[13] | 900 | 900 | |
UBS AG | Credit default swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 2,700 | 3,700 | |
Notional values related to PRV | [2],[5] | 85,200 | 116,900 | |
NRV | [2],[8] | 3,000 | 3,900 | |
Notional values related to NRV | [2],[5] | 94,400 | 135,200 | |
Other notional values | [2],[5],[10] | 1,200 | ||
UBS AG | Total return swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 200 | 200 | |
Notional values related to PRV | [2],[5] | 2,200 | 3,300 | |
NRV | [2],[8] | 800 | 900 | |
Notional values related to NRV | [2],[5] | 3,900 | 4,300 | |
UBS AG | Options and warrants | Over-the-counter (OTC) contracts | Credit derivative contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 0 | 0 | |
Notional values related to PRV | [2],[5] | 4,300 | 2,900 | |
NRV | [2],[8] | 0 | 0 | |
Notional values related to NRV | [2],[5] | 100 | 100 | |
UBS AG | Interest and currency swaps | Over-the-counter (OTC) contracts | Foreign exchange contracts | ||||
Derivative [Line Items] | ||||
PRV | [2],[3] | 23,800 | 43,200 | |
Notional values related to PRV | [2],[5] | 1,275,500 | 1,220,800 | |
NRV | [2],[8] | 21,800 | 42,000 | |
Notional values related to NRV | [2],[5] | SFr 1,098,400 | SFr 1,115,000 | |
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | |||
[2] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. | |||
[3] | PRV: Positive replacement value. | |||
[4] | Refer to Note 24 for more information on netting arrangements. | |||
[5] | In cases where replacement values are presented on a net basis on the balance sheet, the respective notional values of the netted replacement values are still presented on a gross basis. | |||
[6] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | |||
[7] | Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. | |||
[8] | NRV: Negative replacement value. | |||
[9] | Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. | |||
[10] | Other notional values relate to derivatives that are cleared through either a central clearing counterparty or an exchange. The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments and Cash collateral payables on derivative instruments and was not material for the periods presented. | |||
[11] | Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as replacement values. | |||
[12] | Negative replacement values as of 31 December 2017 include CHF 0.0 billion related to derivative loan commitments (31 December 2016: CHF 0.1 billion). No notional amounts related to these replacement values are included in the table. The maximum irrevocable amount related to these commitments was CHF 5.3 billion as of 31 December 2017 (31 December 2016: CHF 14.3 billion). | |||
[13] | Notional values of exchange-traded agency transactions and OTC cleared transactions entered into on behalf of clients are not disclosed due to their significantly different risk profile. |
Derivative instruments (Narrati
Derivative instruments (Narrative) (Detail 1) | Dec. 31, 2017 | Dec. 31, 2016 |
Interest rate swaps | Over-the-counter | Within 1 year | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 54.00% | 52.00% |
Interest rate swaps | Over-the-counter | Due between 1 and 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 28.00% | 29.00% |
Interest rate swaps | Over-the-counter | Due after 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 18.00% | 19.00% |
Credit default swaps | Within 1 year | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 23.00% | 29.00% |
Credit default swaps | Due between 1 and 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 65.00% | 61.00% |
Credit default swaps | Due after 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 12.00% | 10.00% |
UBS AG | Interest rate swaps | Over-the-counter | Within 1 year | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 54.00% | 52.00% |
UBS AG | Interest rate swaps | Over-the-counter | Due between 1 and 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 28.00% | 29.00% |
UBS AG | Interest rate swaps | Over-the-counter | Due after 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 18.00% | 19.00% |
UBS AG | Credit default swaps | Within 1 year | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 23.00% | 29.00% |
UBS AG | Credit default swaps | Due between 1 and 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 65.00% | 61.00% |
UBS AG | Credit default swaps | Due after 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 12.00% | 10.00% |
Derivative instruments (Deta135
Derivative instruments (Detail 2) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | ||
Credit Derivatives [Line Items] | ||||
PRV | [1],[2],[3],[4] | SFr 118,227 | SFr 158,411 | |
NRV | [2],[4],[7] | 116,133 | [5],[6],[8] | 153,810 |
Credit derivative contracts | ||||
Credit Derivatives [Line Items] | ||||
PRV | [2],[3] | 2,800 | 3,900 | |
NRV | [2],[7] | 3,800 | 4,800 | |
Protection bought | ||||
Credit Derivatives [Line Items] | ||||
PRV | 800 | 2,000 | ||
NRV | 2,900 | 2,800 | ||
Notional values | 101,900 | 139,700 | ||
Protection bought | of which: credit derivatives related to economic hedges | ||||
Credit Derivatives [Line Items] | ||||
PRV | 700 | 1,400 | ||
NRV | 2,400 | 2,400 | ||
Notional values | 81,500 | 111,700 | ||
Protection bought | of which: credit derivatives related to market-making | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 500 | ||
NRV | 500 | 300 | ||
Notional values | 20,300 | 28,000 | ||
Protection bought | Single-name credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 600 | 1,600 | ||
NRV | 1,100 | 1,300 | ||
Notional values | 61,300 | 91,400 | ||
Protection bought | Multi-name index-linked credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 200 | 200 | ||
NRV | 900 | 800 | ||
Notional values | 31,800 | 38,400 | ||
Protection bought | Multi-name other credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 0 | ||
NRV | 0 | 0 | ||
Notional values | 100 | 1,500 | ||
Protection bought | Total rate of return swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 100 | ||
NRV | 800 | 700 | ||
Notional values | 4,400 | 5,500 | ||
Protection bought | Options and warrants | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 0 | ||
NRV | 0 | 0 | ||
Notional values | 4,300 | 2,900 | ||
Protection sold | ||||
Credit Derivatives [Line Items] | ||||
PRV | 2,000 | 1,900 | ||
NRV | 900 | 2,000 | ||
Notional values | 89,400 | 122,900 | ||
Protection sold | of which: credit derivatives related to economic hedges | ||||
Credit Derivatives [Line Items] | ||||
PRV | 1,600 | 1,500 | ||
NRV | 800 | 1,500 | ||
Notional values | 70,500 | 96,200 | ||
Protection sold | of which: credit derivatives related to market-making | ||||
Credit Derivatives [Line Items] | ||||
PRV | 500 | 400 | ||
NRV | 0 | 500 | ||
Notional values | 18,900 | 26,700 | ||
Protection sold | Single-name credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 1,100 | 1,300 | ||
NRV | 600 | 1,400 | ||
Notional values | 55,700 | 81,300 | ||
Protection sold | Multi-name index-linked credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 900 | 500 | ||
NRV | 200 | 400 | ||
Notional values | 31,900 | 38,300 | ||
Protection sold | Multi-name other credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 0 | ||
NRV | 0 | 0 | ||
Notional values | 0 | 1,100 | ||
Protection sold | Total rate of return swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 100 | 0 | ||
NRV | 0 | 200 | ||
Notional values | 1,700 | 2,100 | ||
Protection sold | Options and warrants | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 0 | ||
NRV | 0 | 0 | ||
Notional values | 100 | 100 | ||
UBS AG | ||||
Credit Derivatives [Line Items] | ||||
PRV | [1],[2],[3],[4] | 118,229 | 158,411 | |
NRV | [2],[4],[7] | 116,134 | [5],[6],[8] | 153,810 |
UBS AG | Credit derivative contracts | ||||
Credit Derivatives [Line Items] | ||||
PRV | [2],[3] | 2,800 | 3,900 | |
NRV | [2],[7] | 3,800 | 4,800 | |
UBS AG | Protection bought | ||||
Credit Derivatives [Line Items] | ||||
PRV | 800 | 2,000 | ||
NRV | 2,900 | 2,800 | ||
Notional values | 101,900 | 139,700 | ||
UBS AG | Protection bought | of which: credit derivatives related to economic hedges | ||||
Credit Derivatives [Line Items] | ||||
PRV | 700 | 1,400 | ||
NRV | 2,400 | 2,400 | ||
Notional values | 81,500 | 111,700 | ||
UBS AG | Protection bought | of which: credit derivatives related to market-making | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 500 | ||
NRV | 500 | 300 | ||
Notional values | 20,300 | 28,000 | ||
UBS AG | Protection bought | Single-name credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 600 | 1,600 | ||
NRV | 1,100 | 1,300 | ||
Notional values | 61,300 | 91,400 | ||
UBS AG | Protection bought | Multi-name index-linked credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 200 | 200 | ||
NRV | 900 | 800 | ||
Notional values | 31,800 | 38,400 | ||
UBS AG | Protection bought | Multi-name other credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 0 | ||
NRV | 0 | 0 | ||
Notional values | 100 | 1,500 | ||
UBS AG | Protection bought | Total rate of return swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 100 | ||
NRV | 800 | 700 | ||
Notional values | 4,400 | 5,500 | ||
UBS AG | Protection bought | Options and warrants | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 0 | ||
NRV | 0 | 0 | ||
Notional values | 4,300 | 2,900 | ||
UBS AG | Protection sold | ||||
Credit Derivatives [Line Items] | ||||
PRV | 2,000 | 1,900 | ||
NRV | 900 | 2,000 | ||
Notional values | 89,400 | 122,900 | ||
UBS AG | Protection sold | of which: credit derivatives related to economic hedges | ||||
Credit Derivatives [Line Items] | ||||
PRV | 1,600 | 1,500 | ||
NRV | 800 | 1,500 | ||
Notional values | 70,500 | 96,200 | ||
UBS AG | Protection sold | of which: credit derivatives related to market-making | ||||
Credit Derivatives [Line Items] | ||||
PRV | 500 | 400 | ||
NRV | 0 | 500 | ||
Notional values | 18,900 | 26,700 | ||
UBS AG | Protection sold | Single-name credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 1,100 | 1,300 | ||
NRV | 600 | 1,400 | ||
Notional values | 55,700 | 81,300 | ||
UBS AG | Protection sold | Multi-name index-linked credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 900 | 500 | ||
NRV | 200 | 400 | ||
Notional values | 31,900 | 38,300 | ||
UBS AG | Protection sold | Multi-name other credit default swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 0 | ||
NRV | 0 | 0 | ||
Notional values | 0 | 1,100 | ||
UBS AG | Protection sold | Total rate of return swaps | ||||
Credit Derivatives [Line Items] | ||||
PRV | 100 | 0 | ||
NRV | 0 | 200 | ||
Notional values | 1,700 | 2,100 | ||
UBS AG | Protection sold | Options and warrants | ||||
Credit Derivatives [Line Items] | ||||
PRV | 0 | 0 | ||
NRV | 0 | 0 | ||
Notional values | SFr 100 | SFr 100 | ||
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | |||
[2] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. | |||
[3] | PRV: Positive replacement value. | |||
[4] | Refer to Note 24 for more information on netting arrangements. | |||
[5] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | |||
[6] | Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. | |||
[7] | NRV: Negative replacement value. | |||
[8] | Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. |
Derivative instruments (Deta136
Derivative instruments (Detail 3) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | ||
Credit Derivatives [Line Items] | ||||
PRV | [1],[2],[3],[4] | SFr 118,227 | SFr 158,411 | |
NRV | [2],[4],[7] | 116,133 | [5],[6],[8] | 153,810 |
Credit derivative contracts | ||||
Credit Derivatives [Line Items] | ||||
PRV | [2],[3] | 2,800 | 3,900 | |
NRV | [2],[7] | 3,800 | 4,800 | |
Protection bought | ||||
Credit Derivatives [Line Items] | ||||
PRV | 800 | 2,000 | ||
NRV | 2,900 | 2,800 | ||
Notional values | 101,900 | 139,700 | ||
Protection bought | Broker-dealers | ||||
Credit Derivatives [Line Items] | ||||
PRV | 200 | 400 | ||
NRV | 200 | 200 | ||
Notional values | 16,200 | 20,900 | ||
Protection bought | Banks | ||||
Credit Derivatives [Line Items] | ||||
PRV | 300 | 900 | ||
NRV | 700 | 1,000 | ||
Notional values | 37,000 | 60,800 | ||
Protection bought | Central clearing counterparties | ||||
Credit Derivatives [Line Items] | ||||
PRV | 100 | 300 | ||
NRV | 1,100 | 900 | ||
Notional values | 41,500 | 47,200 | ||
Protection bought | Other | ||||
Credit Derivatives [Line Items] | ||||
PRV | 300 | 400 | ||
NRV | 900 | 800 | ||
Notional values | 7,200 | 10,900 | ||
Protection sold | ||||
Credit Derivatives [Line Items] | ||||
PRV | 2,000 | 1,900 | ||
NRV | 900 | 2,000 | ||
Notional values | 89,400 | 122,900 | ||
Protection sold | Broker-dealers | ||||
Credit Derivatives [Line Items] | ||||
PRV | 200 | 200 | ||
NRV | 100 | 300 | ||
Notional values | 12,300 | 16,100 | ||
Protection sold | Banks | ||||
Credit Derivatives [Line Items] | ||||
PRV | 500 | 800 | ||
NRV | 400 | 1,000 | ||
Notional values | 31,600 | 52,600 | ||
Protection sold | Central clearing counterparties | ||||
Credit Derivatives [Line Items] | ||||
PRV | 1,000 | 800 | ||
NRV | 100 | 400 | ||
Notional values | 40,600 | 47,100 | ||
Protection sold | Other | ||||
Credit Derivatives [Line Items] | ||||
PRV | 300 | 200 | ||
NRV | 200 | 300 | ||
Notional values | 4,900 | 7,100 | ||
UBS AG | ||||
Credit Derivatives [Line Items] | ||||
PRV | [1],[2],[3],[4] | 118,229 | 158,411 | |
NRV | [2],[4],[7] | 116,134 | [5],[6],[8] | 153,810 |
UBS AG | Credit derivative contracts | ||||
Credit Derivatives [Line Items] | ||||
PRV | [2],[3] | 2,800 | 3,900 | |
NRV | [2],[7] | 3,800 | 4,800 | |
UBS AG | Protection bought | ||||
Credit Derivatives [Line Items] | ||||
PRV | 800 | 2,000 | ||
NRV | 2,900 | 2,800 | ||
Notional values | 101,900 | 139,700 | ||
UBS AG | Protection bought | Broker-dealers | ||||
Credit Derivatives [Line Items] | ||||
PRV | 200 | 400 | ||
NRV | 200 | 200 | ||
Notional values | 16,200 | 20,900 | ||
UBS AG | Protection bought | Banks | ||||
Credit Derivatives [Line Items] | ||||
PRV | 300 | 900 | ||
NRV | 700 | 1,000 | ||
Notional values | 37,000 | 60,800 | ||
UBS AG | Protection bought | Central clearing counterparties | ||||
Credit Derivatives [Line Items] | ||||
PRV | 100 | 300 | ||
NRV | 1,100 | 900 | ||
Notional values | 41,500 | 47,200 | ||
UBS AG | Protection bought | Other | ||||
Credit Derivatives [Line Items] | ||||
PRV | 300 | 400 | ||
NRV | 900 | 800 | ||
Notional values | 7,200 | 10,900 | ||
UBS AG | Protection sold | ||||
Credit Derivatives [Line Items] | ||||
PRV | 2,000 | 1,900 | ||
NRV | 900 | 2,000 | ||
Notional values | 89,400 | 122,900 | ||
UBS AG | Protection sold | Broker-dealers | ||||
Credit Derivatives [Line Items] | ||||
PRV | 200 | 200 | ||
NRV | 100 | 300 | ||
Notional values | 12,300 | 16,100 | ||
UBS AG | Protection sold | Banks | ||||
Credit Derivatives [Line Items] | ||||
PRV | 500 | 800 | ||
NRV | 400 | 1,000 | ||
Notional values | 31,600 | 52,600 | ||
UBS AG | Protection sold | Central clearing counterparties | ||||
Credit Derivatives [Line Items] | ||||
PRV | 1,000 | 800 | ||
NRV | 100 | 400 | ||
Notional values | 40,600 | 47,100 | ||
UBS AG | Protection sold | Other | ||||
Credit Derivatives [Line Items] | ||||
PRV | 300 | 200 | ||
NRV | 200 | 300 | ||
Notional values | SFr 4,900 | SFr 7,100 | ||
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | |||
[2] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. | |||
[3] | PRV: Positive replacement value. | |||
[4] | Refer to Note 24 for more information on netting arrangements. | |||
[5] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | |||
[6] | Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. | |||
[7] | NRV: Negative replacement value. | |||
[8] | Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. |
Derivative instruments (Narr137
Derivative instruments (Narrative) (Detail 2) SFr in Billions | 12 Months Ended |
Dec. 31, 2017CHF (SFr) | |
Disclosure of Derivative Instruments [Line Items] | |
Additional contractual obligations related to OTC derivatives required in the event of a one-notch reduction in long-term credit ratings of UBS | SFr 0.1 |
Additional contractual obligations related to OTC derivatives required in the event of a two-notch reduction in long-term credit ratings of UBS | 0.3 |
Additional contractual obligations related to OTC derivatives required in the event of a three-notch reduction in long-term credit ratings of UBS | 1.2 |
UBS AG | |
Disclosure of Derivative Instruments [Line Items] | |
Additional contractual obligations related to OTC derivatives required in the event of a one-notch reduction in long-term credit ratings of UBS | 0.1 |
Additional contractual obligations related to OTC derivatives required in the event of a two-notch reduction in long-term credit ratings of UBS | 0.3 |
Additional contractual obligations related to OTC derivatives required in the event of a three-notch reduction in long-term credit ratings of UBS | SFr 1.2 |
Hedge accounting (Narrative) (D
Hedge accounting (Narrative) (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value Hedges [Member] | Interest Rate Risk [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Hedging Instrument, Assets | SFr 47 | SFr 152 | |
Hedging Instrument, Liabilities | 2 | 1 | |
Fair Value Hedges [Member] | Portfolio Interest Rate Risk [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Hedging Instrument, Liabilities | 32 | 44 | |
Cash Flow Hedges [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Hedging Instrument, Assets | 30 | 68 | |
Hedging Instrument, Liabilities | 2 | 5 | |
Gain (loss) on hedge ineffectiveness recognised in Net trading income | SFr 8 | 11 | SFr 150 |
Maximum maturity of aggregate principal balances and interest cash flows that are hedged with interest rate swaps | 11 years | ||
Hedges Of Net Investment In Foreign Operations [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Hedging Instrument, Assets | SFr 78 | 122 | |
Hedging Instrument, Liabilities | 130 | 79 | |
Hedged structural exposures in several currencies | 8,200 | 7,500 | |
Hedges Of Net Investment In Foreign Operations [Member] | Derivatives [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Notional Amount | 13,000 | 12,500 | |
Hedges Of Net Investment In Foreign Operations [Member] | Currency Swap Contract USD vs CHF [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Notional Amount | 8,100 | ||
Hedges Of Net Investment In Foreign Operations [Member] | Currency Swap Contract Non USD vs USD [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Notional Amount | 5,000 | ||
Hedges Of Net Investment In Foreign Operations [Member] | Non Derivatives Financial Assets [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Notional Amount | 1,400 | 1,500 | |
Hedges Of Net Investment In Foreign Operations [Member] | Non Derivatives Financial Liabilities [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Notional Amount | 1,400 | 1,500 | |
UBS AG | Fair Value Hedges [Member] | Interest Rate Risk [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Hedging Instrument, Assets | 47 | 152 | |
Hedging Instrument, Liabilities | 2 | 1 | |
UBS AG | Fair Value Hedges [Member] | Portfolio Interest Rate Risk [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Hedging Instrument, Liabilities | 32 | 44 | |
UBS AG | Cash Flow Hedges [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Hedging Instrument, Assets | 30 | 68 | |
Hedging Instrument, Liabilities | 2 | 5 | |
Gain (loss) on hedge ineffectiveness recognised in Net trading income | SFr 8 | 11 | SFr 150 |
Maximum maturity of aggregate principal balances and interest cash flows that are hedged with interest rate swaps | 11 years | ||
UBS AG | Hedges Of Net Investment In Foreign Operations [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Hedging Instrument, Assets | SFr 78 | 122 | |
Hedging Instrument, Liabilities | 130 | 79 | |
Hedged structural exposures in several currencies | 8,200 | 7,500 | |
UBS AG | Hedges Of Net Investment In Foreign Operations [Member] | Derivatives [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Notional Amount | 13,000 | 12,500 | |
UBS AG | Hedges Of Net Investment In Foreign Operations [Member] | Currency Swap Contract USD vs CHF [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Notional Amount | 8,100 | ||
UBS AG | Hedges Of Net Investment In Foreign Operations [Member] | Currency Swap Contract Non USD vs USD [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Notional Amount | 5,000 | ||
UBS AG | Hedges Of Net Investment In Foreign Operations [Member] | Non Derivatives Financial Assets [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Notional Amount | 1,400 | 1,500 | |
UBS AG | Hedges Of Net Investment In Foreign Operations [Member] | Non Derivatives Financial Liabilities [Member] | |||
Disclosure Of Detailed Information About Hedging Instruments [Line Items] | |||
Gain (loss) on hedge ineffectiveness recognised in Net trading income | 4 | ||
Notional Amount | SFr 1,400 | SFr 1,500 |
Hedge accounting (Detail 1)
Hedge accounting (Detail 1) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Fair value hedges of interest rate risk | |||
Disclosure Of Fair Value Hedge Accounting [Line Items] | |||
Gains / (losses) on hedging instruments | SFr (20) | SFr 140 | SFr 554 |
Gains / (losses) on hedged items attributable to the hedged risk | 1 | (144) | (552) |
Net gains / (losses) representing ineffective portions of fair value hedges | (19) | (4) | 2 |
Fair value hedges of portfolio interest rate risk | |||
Disclosure Of Fair Value Hedge Accounting [Line Items] | |||
Gains / (losses) on hedging instruments | (11) | (128) | (176) |
Gains / (losses) on hedged items attributable to the hedged risk | 4 | 116 | 147 |
Net gains / (losses) representing ineffective portions of fair value hedges | (7) | (12) | (29) |
UBS AG | Fair value hedges of interest rate risk | |||
Disclosure Of Fair Value Hedge Accounting [Line Items] | |||
Gains / (losses) on hedging instruments | (20) | 140 | 554 |
Gains / (losses) on hedged items attributable to the hedged risk | 1 | (144) | (552) |
Net gains / (losses) representing ineffective portions of fair value hedges | (19) | (4) | 2 |
UBS AG | Fair value hedges of portfolio interest rate risk | |||
Disclosure Of Fair Value Hedge Accounting [Line Items] | |||
Gains / (losses) on hedging instruments | (11) | (128) | (176) |
Gains / (losses) on hedged items attributable to the hedged risk | 4 | 116 | 147 |
Net gains / (losses) representing ineffective portions of fair value hedges | SFr (7) | SFr (12) | SFr (29) |
Hedge accounting (Detail 2)
Hedge accounting (Detail 2) SFr in Billions | Dec. 31, 2017CHF (SFr) |
Within 1 year | |
Average Net Assets Liabilities Subject To Forecasted Cash Flow [Line Items] | |
Assets | SFr 52 |
Liabilities | 3 |
Net balance | 50 |
1-3 years | |
Average Net Assets Liabilities Subject To Forecasted Cash Flow [Line Items] | |
Assets | 74 |
Liabilities | 4 |
Net balance | 70 |
3-5 years | |
Average Net Assets Liabilities Subject To Forecasted Cash Flow [Line Items] | |
Assets | 49 |
Liabilities | 2 |
Net balance | 47 |
5-10 years | |
Average Net Assets Liabilities Subject To Forecasted Cash Flow [Line Items] | |
Assets | 49 |
Liabilities | 2 |
Net balance | 47 |
Over 10 years | |
Average Net Assets Liabilities Subject To Forecasted Cash Flow [Line Items] | |
Assets | 0 |
Liabilities | 0 |
Net balance | 0 |
UBS AG | Within 1 year | |
Average Net Assets Liabilities Subject To Forecasted Cash Flow [Line Items] | |
Assets | 52 |
Liabilities | 3 |
Net balance | 50 |
UBS AG | 1-3 years | |
Average Net Assets Liabilities Subject To Forecasted Cash Flow [Line Items] | |
Assets | 74 |
Liabilities | 4 |
Net balance | 70 |
UBS AG | 3-5 years | |
Average Net Assets Liabilities Subject To Forecasted Cash Flow [Line Items] | |
Assets | 49 |
Liabilities | 2 |
Net balance | 47 |
UBS AG | 5-10 years | |
Average Net Assets Liabilities Subject To Forecasted Cash Flow [Line Items] | |
Assets | 49 |
Liabilities | 2 |
Net balance | 47 |
UBS AG | Over 10 years | |
Average Net Assets Liabilities Subject To Forecasted Cash Flow [Line Items] | |
Assets | 0 |
Liabilities | 0 |
Net balance | SFr 0 |
Hedge accounting (Detail 3)
Hedge accounting (Detail 3) - FX swaps / forwards SFr in Billions | Dec. 31, 2017CHF (SFr) |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | SFr 12 |
Cash outflows | 12 |
Net cash flows | 0 |
On demand | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 0 |
Cash outflows | 0 |
Net cash flows | 0 |
Due within 1 month | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 8 |
Cash outflows | 8 |
Net cash flows | 0 |
Due between 1 and 3 months | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 4 |
Cash outflows | 4 |
Net cash flows | 0 |
Due between 3 and 12 months | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 0 |
Cash outflows | 0 |
Net cash flows | 0 |
Due between 1 and 5 years | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 0 |
Cash outflows | 0 |
Net cash flows | 0 |
Due after 5 years | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 0 |
Cash outflows | 0 |
Net cash flows | 0 |
UBS AG | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 12 |
Cash outflows | 12 |
Net cash flows | 0 |
UBS AG | On demand | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 0 |
Cash outflows | 0 |
Net cash flows | 0 |
UBS AG | Due within 1 month | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 8 |
Cash outflows | 8 |
Net cash flows | 0 |
UBS AG | Due between 1 and 3 months | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 4 |
Cash outflows | 4 |
Net cash flows | 0 |
UBS AG | Due between 3 and 12 months | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 0 |
Cash outflows | 0 |
Net cash flows | 0 |
UBS AG | Due between 1 and 5 years | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 0 |
Cash outflows | 0 |
Net cash flows | 0 |
UBS AG | Due after 5 years | |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | |
Cash inflows | 0 |
Cash outflows | 0 |
Net cash flows | SFr 0 |
Financial assets available f142
Financial assets available for sale (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Debt instruments | |||
Government and government agencies | [1] | SFr 7,000 | SFr 11,650 |
of which: USA | [1] | 6,569 | 7,779 |
Banks | [1] | 299 | 1,845 |
Corporates and other | [1] | 821 | 1,554 |
Total debt instruments | [1] | 8,120 | 15,048 |
Equity instruments | [1] | 546 | 628 |
Total financial assets available for sale | [1],[2] | 8,665 | 15,676 |
Unrealized gains - before tax | [1] | 216 | 309 |
Unrealized (losses) - before tax | [1] | (105) | (117) |
Net unrealized gains / (losses) - before tax | [1] | 111 | 193 |
Net unrealized gains / (losses) - after tax | [1] | 8 | 96 |
UBS AG | |||
Debt instruments | |||
Government and government agencies | [1] | 7,000 | 11,650 |
of which: USA | [1] | 6,569 | 7,779 |
Banks | [1] | 299 | 1,845 |
Corporates and other | [1] | 821 | 1,554 |
Total debt instruments | [1] | 8,120 | 15,048 |
Equity instruments | [1] | 546 | 628 |
Total financial assets available for sale | [1],[2] | 8,665 | 15,676 |
Unrealized gains - before tax | [1] | 216 | 309 |
Unrealized (losses) - before tax | [1] | (105) | (117) |
Net unrealized gains / (losses) - before tax | [1] | 111 | 193 |
Net unrealized gains / (losses) - after tax | [1] | SFr 8 | SFr 96 |
[1] | Refer to Note 22c for more information on product type and fair value hierarchy categorization. | ||
[2] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. |
Financial assets held to mat143
Financial assets held to maturity (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Debt instruments | |||
Government and government agencies | SFr 7,476 | SFr 7,416 | |
of which: USA | 4,833 | 4,688 | |
of which: Germany | 1,682 | 1,708 | |
of which: France | 669 | 867 | |
Banks | 1,689 | 1,873 | |
Total financial assets held to maturity | [1] | 9,166 | 9,289 |
UBS AG | |||
Debt instruments | |||
Government and government agencies | 7,476 | 7,416 | |
of which: USA | 4,833 | 4,688 | |
of which: Germany | 1,682 | 1,708 | |
of which: France | 669 | 867 | |
Banks | 1,689 | 1,873 | |
Total financial assets held to maturity | [1] | SFr 9,166 | SFr 9,289 |
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. |
Property, equipment and soft144
Property, equipment and software (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | |||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | SFr 8,331 | [1],[2] | SFr 7,695 | |
Balance at the end of the year | [1],[2] | 8,829 | 8,331 | |
Contractual commitments to purchase property in the future | 300 | 300 | ||
Leased assets | 28 | |||
Internally generated software in progress | 791 | |||
Own use properties in progress | 197 | |||
Leasehold improvements in progress | 35 | |||
Net reclassifications to properties held for sale | 40 | |||
Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 18,159 | 17,847 | ||
Additions | 1,604 | 1,788 | ||
Disposals / write-offs | [3] | (622) | (1,104) | |
Reclassifications | (46) | [4] | (200) | |
Foreign currency translation | (65) | (172) | ||
Balance at the end of the year | 19,030 | 18,159 | ||
Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (9,828) | 10,153 | ||
Depreciation | 1,015 | 959 | ||
Impairment | [5] | 18 | 26 | |
Disposals / write-offs | [3] | 614 | 1,090 | |
Reclassifications | (5) | [4] | (146) | |
Foreign currency translation | 40 | 75 | ||
Balance at the end of the year | (10,201) | (9,828) | ||
Own-used properties | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | [1],[2] | 3,432 | ||
Balance at the end of the year | [1],[2] | 3,309 | 3,432 | |
Own-used properties | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 7,732 | |||
Additions | 48 | |||
Disposals / write-offs | [3] | (39) | ||
Reclassifications | (15) | |||
Foreign currency translation | (2) | |||
Balance at the end of the year | 7,723 | 7,732 | ||
Own-used properties | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (4,300) | |||
Depreciation | 167 | |||
Impairment | [5] | (2) | ||
Disposals / write-offs | [3] | 39 | ||
Reclassifications | (9) | |||
Foreign currency translation | 2 | |||
Balance at the end of the year | (4,414) | (4,300) | ||
Leasehold improvements | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | [1],[2] | 1,337 | ||
Balance at the end of the year | [1],[2] | 1,274 | 1,337 | |
Leasehold improvements | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 3,469 | |||
Additions | 21 | |||
Disposals / write-offs | [3] | (295) | ||
Reclassifications | 136 | |||
Foreign currency translation | (41) | |||
Balance at the end of the year | 3,291 | 3,469 | ||
Leasehold improvements | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (2,132) | |||
Depreciation | 199 | |||
Impairment | [5] | 8 | ||
Disposals / write-offs | [3] | 292 | ||
Reclassifications | 5 | |||
Foreign currency translation | 35 | |||
Balance at the end of the year | (2,017) | (2,132) | ||
IT hardware and communication | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | [1],[2] | 495 | ||
Balance at the end of the year | [1],[2] | 471 | 495 | |
IT hardware and communication | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,521 | |||
Additions | 118 | |||
Disposals / write-offs | [3] | (115) | ||
Reclassifications | 45 | |||
Foreign currency translation | 4 | |||
Balance at the end of the year | 1,574 | 1,521 | ||
IT hardware and communication | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (1,027) | |||
Depreciation | 179 | |||
Impairment | [5] | 4 | ||
Disposals / write-offs | [3] | 112 | ||
Reclassifications | (1) | |||
Foreign currency translation | (6) | |||
Balance at the end of the year | (1,103) | (1,027) | ||
Internally generated software | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | [1],[2] | 1,495 | ||
Balance at the end of the year | [1],[2] | 2,352 | 1,495 | |
Internally generated software | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 3,037 | |||
Additions | 1 | |||
Disposals / write-offs | [3] | (87) | ||
Reclassifications | 1,220 | |||
Foreign currency translation | (12) | |||
Balance at the end of the year | 4,159 | 3,037 | ||
Internally generated software | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (1,542) | |||
Depreciation | 347 | |||
Impairment | [5] | 7 | ||
Disposals / write-offs | [3] | 86 | ||
Reclassifications | 0 | |||
Foreign currency translation | 3 | |||
Balance at the end of the year | (1,807) | (1,542) | ||
Purchased software | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | [1],[2] | 175 | ||
Balance at the end of the year | [1],[2] | 155 | 175 | |
Purchased software | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 408 | |||
Additions | 49 | |||
Disposals / write-offs | [3] | (32) | ||
Reclassifications | (5) | |||
Foreign currency translation | 1 | |||
Balance at the end of the year | 421 | 408 | ||
Purchased software | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (233) | |||
Depreciation | 61 | |||
Impairment | [5] | 1 | ||
Disposals / write-offs | [3] | 32 | ||
Reclassifications | 0 | |||
Foreign currency translation | (3) | |||
Balance at the end of the year | (266) | (233) | ||
Other machines and equipment | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | [1],[2] | 272 | ||
Balance at the end of the year | [1],[2] | 245 | 272 | |
Other machines and equipment | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 866 | |||
Additions | 14 | |||
Disposals / write-offs | [3] | (53) | ||
Reclassifications | 27 | |||
Foreign currency translation | (14) | |||
Balance at the end of the year | 840 | 866 | ||
Other machines and equipment | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (594) | |||
Depreciation | 61 | |||
Impairment | [5] | 1 | ||
Disposals / write-offs | [3] | 52 | ||
Reclassifications | 0 | |||
Foreign currency translation | 9 | |||
Balance at the end of the year | (595) | (594) | ||
Projects in progress | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | [1],[2],[6] | 1,125 | ||
Balance at the end of the year | [1],[2],[6] | 1,023 | 1,125 | |
Projects in progress | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,125 | |||
Additions | 1,353 | |||
Disposals / write-offs | [3] | 0 | ||
Reclassifications | (1,455) | |||
Foreign currency translation | 0 | |||
Balance at the end of the year | 1,023 | 1,125 | ||
Projects in progress | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 0 | |||
Depreciation | 0 | |||
Impairment | [5] | 0 | ||
Disposals / write-offs | [3] | 0 | ||
Reclassifications | 0 | |||
Foreign currency translation | 0 | |||
Balance at the end of the year | 0 | 0 | ||
UBS AG | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 8,297 | [1],[7] | 7,683 | |
Balance at the end of the year | [1],[7] | 7,985 | 8,297 | |
Contractual commitments to purchase property in the future | 300 | 300 | ||
Leased assets | 22 | |||
Internally generated software in progress | 754 | |||
Own use properties in progress | 188 | |||
Leasehold improvements in progress | 33 | |||
Net reclassifications to properties held for sale | 40 | |||
UBS AG | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 18,106 | 17,823 | ||
Additions | 1,508 | 1,770 | ||
Disposals / write-offs | [8] | (2,239) | (1,102) | |
Reclassifications | (46) | (214) | ||
Foreign currency translation | (70) | (171) | ||
Balance at the end of the year | 17,259 | 18,106 | ||
UBS AG | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (9,809) | 10,140 | ||
Depreciation | 912 | 954 | ||
Impairment | [5] | 15 | 26 | |
Disposals / write-offs | [8] | 1,413 | 1,090 | |
Reclassifications | (7) | (147) | ||
Foreign currency translation | 43 | 74 | ||
Balance at the end of the year | (9,274) | (9,809) | ||
UBS AG | Own-used properties | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 3,432 | |||
Balance at the end of the year | 3,019 | [1],[7] | 3,432 | |
UBS AG | Own-used properties | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 7,732 | |||
Additions | 44 | |||
Disposals / write-offs | [8] | (672) | ||
Reclassifications | (17) | |||
Foreign currency translation | (2) | |||
Balance at the end of the year | 7,085 | 7,732 | ||
UBS AG | Own-used properties | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (4,300) | |||
Depreciation | 153 | |||
Impairment | [5] | (2) | ||
Disposals / write-offs | [8] | 373 | ||
Reclassifications | (9) | |||
Foreign currency translation | 2 | |||
Balance at the end of the year | (4,066) | (4,300) | ||
UBS AG | Leasehold improvements | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,316 | |||
Balance at the end of the year | 1,233 | [1],[7] | 1,316 | |
UBS AG | Leasehold improvements | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 3,440 | |||
Additions | 15 | |||
Disposals / write-offs | [8] | (303) | ||
Reclassifications | 117 | |||
Foreign currency translation | (43) | |||
Balance at the end of the year | 3,226 | 3,440 | ||
UBS AG | Leasehold improvements | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (2,124) | |||
Depreciation | 191 | |||
Impairment | [5] | 8 | ||
Disposals / write-offs | [8] | 298 | ||
Reclassifications | 4 | |||
Foreign currency translation | 36 | |||
Balance at the end of the year | (1,993) | (2,124) | ||
UBS AG | IT hardware and communication | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 492 | |||
Balance at the end of the year | 289 | [1],[7] | 492 | |
UBS AG | IT hardware and communication | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,512 | |||
Additions | 101 | |||
Disposals / write-offs | [8] | (645) | ||
Reclassifications | 46 | |||
Foreign currency translation | 3 | |||
Balance at the end of the year | 1,018 | 1,512 | ||
UBS AG | IT hardware and communication | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (1,021) | |||
Depreciation | 133 | |||
Impairment | [5] | 2 | ||
Disposals / write-offs | [8] | 432 | ||
Reclassifications | 0 | |||
Foreign currency translation | (5) | |||
Balance at the end of the year | (729) | (1,021) | ||
UBS AG | Internally generated software | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,495 | |||
Balance at the end of the year | 2,148 | [1],[7] | 1,495 | |
UBS AG | Internally generated software | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 3,037 | |||
Additions | 1 | |||
Disposals / write-offs | [8] | (355) | ||
Reclassifications | 1,196 | |||
Foreign currency translation | (12) | |||
Balance at the end of the year | 3,867 | 3,037 | ||
UBS AG | Internally generated software | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (1,542) | |||
Depreciation | 328 | |||
Impairment | [5] | 6 | ||
Disposals / write-offs | [8] | 155 | ||
Reclassifications | 0 | |||
Foreign currency translation | 3 | |||
Balance at the end of the year | (1,719) | (1,542) | ||
UBS AG | Purchased software | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 175 | |||
Balance at the end of the year | 89 | [1],[7] | 175 | |
UBS AG | Purchased software | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 408 | |||
Additions | 43 | |||
Disposals / write-offs | [8] | (174) | ||
Reclassifications | (5) | |||
Foreign currency translation | 1 | |||
Balance at the end of the year | 272 | 408 | ||
UBS AG | Purchased software | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (233) | |||
Depreciation | 48 | |||
Impairment | [5] | 1 | ||
Disposals / write-offs | [8] | 100 | ||
Reclassifications | (1) | |||
Foreign currency translation | (3) | |||
Balance at the end of the year | (183) | (233) | ||
UBS AG | Other machines and equipment | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 264 | |||
Balance at the end of the year | 232 | [1],[7] | 264 | |
UBS AG | Other machines and equipment | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 853 | |||
Additions | 13 | |||
Disposals / write-offs | [8] | (59) | ||
Reclassifications | 22 | |||
Foreign currency translation | (15) | |||
Balance at the end of the year | 815 | 853 | ||
UBS AG | Other machines and equipment | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | (589) | |||
Depreciation | 59 | |||
Impairment | [5] | 1 | ||
Disposals / write-offs | [8] | 55 | ||
Reclassifications | 0 | |||
Foreign currency translation | 10 | |||
Balance at the end of the year | (583) | (589) | ||
UBS AG | Projects in progress | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,123 | |||
Balance at the end of the year | 975 | [1],[7],[9] | 1,123 | |
UBS AG | Projects in progress | Historical cost | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 1,123 | |||
Additions | 1,291 | |||
Disposals / write-offs | [8] | (32) | ||
Reclassifications | (1,406) | |||
Foreign currency translation | (1) | |||
Balance at the end of the year | 975 | 1,123 | ||
UBS AG | Projects in progress | Accumulated depreciation | ||||
Disclosure Of Property Equipment Software [Line Items] | ||||
Balance at the beginning of the year | 0 | |||
Depreciation | 0 | |||
Impairment | [5] | 0 | ||
Disposals / write-offs | [8] | 0 | ||
Reclassifications | 0 | |||
Foreign currency translation | 0 | |||
Balance at the end of the year | SFr 0 | SFr 0 | ||
[1] | As of 31 December 2017, contractual commitments to purchase property in the future amounted to approximately CHF 0.3 billion (31 December 2016: approximately CHF 0.3 billion). | |||
[2] | Includes CHF 28 million related to leased assets, mainly IT hardware and communication. | |||
[3] | Includes write-offs of fully depreciated assets. | |||
[4] | Reflects reclassifications to Properties held for sale (CHF 40 million on a net basis) that were sold in 2017. | |||
[5] | Impairment charges recorded in 2017 relate to assets for which the recoverable amount was determined based on value-in-use. Recoverable amounts for these impaired assets were not material as of 31 December 2017. | |||
[6] | Consists of CHF 791 million related to Internally generated software, CHF 197 million related to Own-used properties and CHF 35 million related to Leasehold improvements. | |||
[7] | Includes CHF 22 million related to leased assets, mainly IT hardware and communication. | |||
[8] | Mainly comprises CHF 819 million of assets on a net book value basis relating to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. Also includes write-offs of fully depreciated assets. | |||
[9] | Consists of CHF 754 million related to Internally generated software, CHF 188 million related to Own-used properties and CHF 33 million related to Leasehold improvements. |
Goodwill and intangible asse145
Goodwill and intangible assets (Narrative) (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Description of cash-generating unit | UBS considers the segments, as reported in Note 2a, as separate cash-generating units (CGUs). | |
Information Whether Recoverable Amount Of AssetIs Fair Value Less Costs To Sell Or Value In Use | The impairment test is performed for each segment to which goodwill is allocated by comparing the recoverable amount, based on its value-in-use, with the carrying amount of the respective segment. | |
Increase (decrease) in goodwill impairment due to revision of equity attribution methodology | SFr 0 | SFr 0 |
Description Of Basis On Which Units Recoverable Amount Has Been Determined | The recoverable amounts are determined using a discounted cash flow model, which has been adapted to use inputs that consider features of the banking business and its regulatory environment. The recoverable amount of a segment is the sum of the discounted earnings attributable to shareholders from the first three forecast years and the terminal value, adjusted for the effect of the capital assumed to be needed over the next three years and to support the perpetual growth implied by the long-term growth rate. The terminal value, which covers all periods beyond the third year, is calculated on the basis of the forecast of third-year profit, the discount rate and the long-term growth rate, as well as the implied perpetual capital growth. The carrying amount for each segment is determined by reference to the Group’s equity attribution framework. Within this framework, which is described in the “Capital management” section of this report, we attribute equity to the businesses on the basis of their risk-weighted assets and leverage ratio denominator, their goodwill and intangible assets as well as equity directly associated with activity that Group ALM manages centrally on behalf of the business divisions. The framework is primarily used for purposes of measuring the performance of the businesses and includes certain management assumptions. Attributed equity equals the capital that a segment requires to conduct its business and is considered an appropriate starting point from which to determine the carrying value of the segments. The attributed equity methodology is aligned with the business planning process, the inputs from which are used in calculating the recoverable amounts of the respective CGU. | |
Description Of Key Assumptions On Which Management Has Based Cash Flow Projections | Valuation parameters used within the Group’s impairment test model are linked to external market information, where applicable. The model used to determine the recoverable amount is most sensitive to changes in the forecast earnings available to shareholders in years one to three, to changes in the discount rates and to changes in the long-term growth rate. The applied long-term growth rate is based on long-term economic growth rates for different regions worldwide. Earnings available to shareholders are estimated on the basis of forecast results, which are part of the business plan approved by the BoD. The discount rates are determined by applying a capital asset pricing model-based approach, as well as considering quantitative and qualitative inputs from both internal and external analysts and the view of management. The discount rates were unchanged between 2016 and 2017. Key assumptions used to determine the recoverable amounts of each segment are tested for sensitivity by applying a reasonably possible change to those assumptions. Forecast earnings available to shareholders were changed by 20%, the discount rates were changed by 1.5 percentage points and the long-term growth rates were changed by 0.75 percentage points. Under all scenarios, reasonably possible changes in key assumptions did not result in an impairment of goodwill or intangible assets that would be material to the consolidated financial statements or to the reported financial performance of any of the business divisions. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill may become impaired in the future, giving rise to losses in the income statement. Recognition of any impairment of goodwill would reduce IFRS equity and net profit. It would not affect cash flows and, as goodwill is required to be deducted from capital under the Basel III capital framework, no effect would be expected on the Group total capital ratios. | |
Change in forecast earnings available to shareholders used for goodwill impairment sensitivity analysis | 20.00% | |
Change in discount rates used for goodwill impairment sensitivity analysis | 1.50% | |
Change in long-term growth rates used for goodwill impairment sensitivity analysis | 0.75% | |
UBS AG | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Description of cash-generating unit | UBS considers the segments, as reported in Note 2a, as separate cash-generating units (CGUs). | |
Information Whether Recoverable Amount Of AssetIs Fair Value Less Costs To Sell Or Value In Use | The impairment test is performed for each segment to which goodwill is allocated by comparing the recoverable amount, based on its value-in-use, with the carrying amount of the respective segment. | |
Increase (decrease) in goodwill impairment due to revision of equity attribution methodology | SFr 0 | SFr 0 |
Description Of Basis On Which Units Recoverable Amount Has Been Determined | The recoverable amounts are determined using a discounted cash flow model, which has been adapted to use inputs that consider features of the banking business and its regulatory environment. The recoverable amount of a segment is the sum of the discounted earnings attributable to shareholders from the first three forecast years and the terminal value, adjusted for the effect of the capital assumed to be needed over the next three years and to support the perpetual growth implied by the long-term growth rate. The terminal value, which covers all periods beyond the third year, is calculated on the basis of the forecast of third-year profit, the discount rate and the long-term growth rate, as well as the implied perpetual capital growth. The carrying amount for each segment is determined by reference to the Group’s equity attribution framework. Within this framework, which is described in the “Capital management” section of this report, we attribute equity to the businesses on the basis of their risk-weighted assets and leverage ratio denominator, their goodwill and intangible assets as well as equity directly associated with activity that Group ALM manages centrally on behalf of the business divisions. The framework is primarily used for purposes of measuring the performance of the businesses and includes certain management assumptions. Attributed equity equals the capital that a segment requires to conduct its business and is considered an appropriate starting point from which to determine the carrying value of the segments. The attributed equity methodology is aligned with the business planning process, the inputs from which are used in calculating the recoverable amounts of the respective CGU. | |
Description Of Key Assumptions On Which Management Has Based Cash Flow Projections | Valuation parameters used within UBS AG’s impairment test model are linked to external market information, where applicable. The model used to determine the recoverable amount is most sensitive to changes in the forecast earnings available to shareholders in years one to three, to changes in the discount rates and to changes in the long-term growth rate. The applied long-term growth rate is based on long-term economic growth rates for different regions worldwide. Earnings available to shareholders are estimated on the basis of forecast results, which are part of the business plan approved by the BoD. The discount rates are determined by applying a capital asset pricing model-based approach, as well as considering quantitative and qualitative inputs from both internal and external analysts and the view of management. The discount rates were unchanged between 2016 and 2017. Key assumptions used to determine the recoverable amounts of each segment are tested for sensitivity by applying a reasonably possible change to those assumptions. Forecast earnings available to shareholders were changed by 20%, the discount rates were changed by 1.5 percentage points and the long-term growth rates were changed by 0.75 percentage points. Under all scenarios, reasonably possible changes in key assumptions did not result in an impairment of goodwill or intangible assets that would be material to the consolidated financial statements or to the reported financial performance of any of the business divisions. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill may become impaired in the future, giving rise to losses in the income statement. Recognition of any impairment of goodwill would reduce IFRS equity and net profit. It would not affect cash flows and, as goodwill is required to be deducted from capital under the Basel III capital framework, no effect would be expected on UBS AG’s total capital ratios. | |
Change in forecast earnings available to shareholders used for goodwill impairment sensitivity analysis | 20.00% | |
Change in discount rates used for goodwill impairment sensitivity analysis | 1.50% | |
Change in long-term growth rates used for goodwill impairment sensitivity analysis | 0.75% |
Goodwill and intangible asse146
Goodwill and intangible assets (Detail 1) | Dec. 31, 2017 | Dec. 31, 2016 |
Wealth Management | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 1.70% | 1.70% |
Discount rates 31.12.17 | 9.00% | |
Discount rates 31.12.16 | 9.00% | |
Wealth Management Americas | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 2.40% | 2.40% |
Discount rates 31.12.17 | 9.00% | |
Discount rates 31.12.16 | 9.00% | |
Asset Management | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 2.40% | 2.40% |
Discount rates 31.12.17 | 9.00% | |
Discount rates 31.12.16 | 9.00% | |
Investment Bank | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 2.40% | 2.40% |
Discount rates 31.12.17 | 11.00% | |
Discount rates 31.12.16 | 11.00% | |
UBS AG | Wealth Management | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 1.70% | 1.70% |
Discount rates 31.12.17 | 9.00% | |
Discount rates 31.12.16 | 9.00% | |
UBS AG | Wealth Management Americas | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 2.40% | 2.40% |
Discount rates 31.12.17 | 9.00% | |
Discount rates 31.12.16 | 9.00% | |
UBS AG | Asset Management | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 2.40% | 2.40% |
Discount rates 31.12.17 | 9.00% | |
Discount rates 31.12.16 | 9.00% | |
UBS AG | Investment Bank | ||
Disclosure Of Information For IndividualAsset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Growth rates | 2.40% | 2.40% |
Discount rates 31.12.17 | 11.00% | |
Discount rates 31.12.16 | 11.00% |
Goodwill and intangible asse147
Goodwill and intangible assets (Detail 2) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | SFr 6,556 | ||
Balance at the end of the year | 6,398 | SFr 6,556 | |
Recoverable amount of the impaired assets | 0 | 3 | |
Historical cost | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 7,823 | 7,821 | |
Additions | 101 | 24 | |
Disposals | (61) | (3) | |
Write-offs | 0 | (75) | |
Foreign currency translation | (174) | 57 | |
Balance at the end of the year | 7,689 | 7,823 | |
Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | (1,267) | 1,253 | |
Amortization | 70 | 91 | |
Impairment | [1] | 0 | 0 |
Disposals | 15 | 1 | |
Write-offs | 0 | 75 | |
Foreign currency translation | 29 | 1 | |
Balance at the end of the year | (1,292) | (1,267) | |
Goodwill | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,311 | ||
Additions | 37 | ||
Disposals | (27) | ||
Foreign currency translation | (139) | ||
Balance at the end of the year | 6,182 | 6,311 | |
Goodwill | Historical cost | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,311 | ||
Additions | 37 | ||
Disposals | (27) | ||
Foreign currency translation | (139) | ||
Balance at the end of the year | 6,182 | 6,311 | |
Intangible assets - Total | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 245 | ||
Additions | 64 | ||
Amortization | 70 | ||
Impairment | [1] | 0 | |
Disposals | (19) | ||
Foreign currency translation | (5) | ||
Balance at the end of the year | 215 | 245 | |
Intangible assets - Total | Historical cost | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 1,512 | ||
Additions | 64 | ||
Disposals | (34) | ||
Write-offs | 0 | ||
Foreign currency translation | (35) | ||
Balance at the end of the year | 1,507 | 1,512 | |
Intangible assets - Total | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | (1,267) | ||
Amortization | 70 | ||
Impairment | [1] | 0 | |
Disposals | 15 | ||
Write-offs | 0 | ||
Foreign currency translation | 29 | ||
Balance at the end of the year | (1,292) | (1,267) | |
Intangible assets - Infrastructure | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the end of the year | 104 | ||
Intangible assets - Infrastructure | Historical cost | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 773 | ||
Foreign currency translation | (33) | ||
Balance at the end of the year | 741 | 773 | |
Intangible assets - Infrastructure | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | (626) | ||
Amortization | 37 | ||
Foreign currency translation | 27 | ||
Balance at the end of the year | (637) | (626) | |
Intangible assets - Customer relationships, contractual rights and other | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the end of the year | 111 | ||
Intangible assets - Customer relationships, contractual rights and other | Historical cost | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 739 | ||
Additions | 64 | ||
Disposals | (34) | ||
Foreign currency translation | (2) | ||
Balance at the end of the year | 766 | 739 | |
Intangible assets - Customer relationships, contractual rights and other | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | (641) | ||
Amortization | 32 | ||
Impairment | [1] | 0 | |
Disposals | 15 | ||
Foreign currency translation | 3 | ||
Balance at the end of the year | (655) | (641) | |
UBS AG | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,556 | ||
Balance at the end of the year | 6,398 | 6,556 | |
Recoverable amount of the impaired assets | 0 | 3 | |
UBS AG | Historical cost | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 7,823 | 7,821 | |
Additions | 101 | 24 | |
Disposals | (61) | (3) | |
Write-offs | 0 | (75) | |
Foreign currency translation | (174) | 57 | |
Balance at the end of the year | 7,689 | 7,823 | |
UBS AG | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | (1,267) | 1,253 | |
Amortization | 70 | 91 | |
Impairment | [1] | 0 | 0 |
Disposals | 15 | 1 | |
Write-offs | 0 | 75 | |
Foreign currency translation | 29 | 1 | |
Balance at the end of the year | (1,292) | (1,267) | |
UBS AG | Goodwill | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,311 | ||
Additions | 37 | ||
Disposals | (27) | ||
Foreign currency translation | (139) | ||
Balance at the end of the year | 6,182 | 6,311 | |
UBS AG | Goodwill | Historical cost | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,311 | ||
Additions | 37 | ||
Disposals | (27) | ||
Foreign currency translation | (139) | ||
Balance at the end of the year | 6,182 | 6,311 | |
UBS AG | Intangible assets - Total | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 245 | ||
Additions | 64 | ||
Amortization | 70 | ||
Impairment | [1] | 0 | |
Disposals | (19) | ||
Foreign currency translation | (5) | ||
Balance at the end of the year | 215 | 245 | |
UBS AG | Intangible assets - Total | Historical cost | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 1,512 | ||
Additions | 64 | ||
Disposals | (34) | ||
Write-offs | 0 | ||
Foreign currency translation | (35) | ||
Balance at the end of the year | 1,507 | 1,512 | |
UBS AG | Intangible assets - Total | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | (1,267) | ||
Amortization | 70 | ||
Impairment | [1] | 0 | |
Disposals | 15 | ||
Write-offs | 0 | ||
Foreign currency translation | 29 | ||
Balance at the end of the year | (1,292) | (1,267) | |
UBS AG | Intangible assets - Infrastructure | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the end of the year | 104 | ||
UBS AG | Intangible assets - Infrastructure | Historical cost | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 773 | ||
Foreign currency translation | (33) | ||
Balance at the end of the year | 741 | 773 | |
UBS AG | Intangible assets - Infrastructure | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | (626) | ||
Amortization | 37 | ||
Foreign currency translation | 27 | ||
Balance at the end of the year | (637) | (626) | |
UBS AG | Intangible assets - Customer relationships, contractual rights and other | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the end of the year | 111 | ||
UBS AG | Intangible assets - Customer relationships, contractual rights and other | Historical cost | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 739 | ||
Additions | 64 | ||
Disposals | (34) | ||
Foreign currency translation | (2) | ||
Balance at the end of the year | 766 | 739 | |
UBS AG | Intangible assets - Customer relationships, contractual rights and other | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | (641) | ||
Amortization | 32 | ||
Impairment | [1] | 0 | |
Disposals | 15 | ||
Foreign currency translation | 3 | ||
Balance at the end of the year | SFr (655) | SFr (641) | |
[1] | Impairment charges recorded in 2017 and 2016 relate to assets for which the recoverable amount was determined based on value-in-use (recoverable amount of the impaired assets: CHF 0 million for 2017 and CHF 3 million for 2016). |
Goodwill and intangible asse148
Goodwill and intangible assets (Detail 3) SFr in Millions | 12 Months Ended | |
Dec. 31, 2017CHF (SFr) | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | SFr 6,556 | |
Balance at the end of the year | 6,398 | |
Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 6,311 | |
Additions | 37 | |
Disposals | (27) | |
Foreign currency translation | (139) | |
Balance at the end of the year | 6,182 | |
Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 245 | |
Additions | 64 | |
Disposals | (19) | |
Amortization | 70 | |
Impairment | 0 | [1] |
Foreign currency translation | (5) | |
Balance at the end of the year | 215 | |
Wealth Management | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 1,303 | |
Additions | 37 | |
Disposals | (2) | |
Foreign currency translation | 8 | |
Balance at the end of the year | 1,346 | |
Wealth Management | Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 40 | |
Additions | 47 | |
Disposals | (19) | |
Amortization | 7 | |
Foreign currency translation | 2 | |
Balance at the end of the year | 63 | |
Wealth Management Americas | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 3,571 | |
Foreign currency translation | (151) | |
Balance at the end of the year | 3,420 | |
Wealth Management Americas | Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 152 | |
Additions | 17 | |
Amortization | 41 | |
Impairment | 0 | |
Foreign currency translation | (6) | |
Balance at the end of the year | 121 | |
Investment Bank | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 36 | |
Foreign currency translation | (2) | |
Balance at the end of the year | 34 | |
Investment Bank | Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 41 | |
Amortization | 12 | |
Foreign currency translation | (1) | |
Balance at the end of the year | 28 | |
Asset Management | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 1,401 | |
Disposals | (25) | |
Foreign currency translation | 6 | |
Balance at the end of the year | 1,382 | |
Asset Management | Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 4 | |
Amortization | 3 | |
Foreign currency translation | 0 | |
Balance at the end of the year | 1 | |
Corporate Center - Services | Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 9 | |
Amortization | 7 | |
Balance at the end of the year | 2 | |
UBS AG | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 6,556 | |
Balance at the end of the year | 6,398 | |
UBS AG | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 6,311 | |
Additions | 37 | |
Disposals | (27) | |
Foreign currency translation | (139) | |
Balance at the end of the year | 6,182 | |
UBS AG | Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 245 | |
Additions | 64 | |
Disposals | (19) | |
Amortization | 70 | |
Impairment | 0 | [1] |
Foreign currency translation | (5) | |
Balance at the end of the year | 215 | |
UBS AG | Wealth Management | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 1,303 | |
Additions | 37 | |
Disposals | (2) | |
Foreign currency translation | 8 | |
Balance at the end of the year | 1,346 | |
UBS AG | Wealth Management | Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 40 | |
Additions | 47 | |
Disposals | (19) | |
Amortization | 7 | |
Foreign currency translation | 2 | |
Balance at the end of the year | 63 | |
UBS AG | Wealth Management Americas | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 3,571 | |
Foreign currency translation | (151) | |
Balance at the end of the year | 3,420 | |
UBS AG | Wealth Management Americas | Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 152 | |
Additions | 17 | |
Amortization | 41 | |
Impairment | 0 | |
Foreign currency translation | (6) | |
Balance at the end of the year | 121 | |
UBS AG | Investment Bank | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 36 | |
Foreign currency translation | (2) | |
Balance at the end of the year | 34 | |
UBS AG | Investment Bank | Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 41 | |
Amortization | 12 | |
Foreign currency translation | (1) | |
Balance at the end of the year | 28 | |
UBS AG | Asset Management | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 1,401 | |
Disposals | (25) | |
Foreign currency translation | 6 | |
Balance at the end of the year | 1,382 | |
UBS AG | Asset Management | Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 4 | |
Amortization | 3 | |
Foreign currency translation | 0 | |
Balance at the end of the year | 1 | |
UBS AG | Corporate Center - Services | Intangible assets | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Balance at the beginning of the year | 9 | |
Amortization | 7 | |
Balance at the end of the year | SFr 2 | |
[1] | Impairment charges recorded in 2017 and 2016 relate to assets for which the recoverable amount was determined based on value-in-use (recoverable amount of the impaired assets: CHF 0 million for 2017 and CHF 3 million for 2016). |
Goodwill and intangible asse149
Goodwill and intangible assets (Detail 4) SFr in Millions | Dec. 31, 2017CHF (SFr) |
Estimated Aggregated Amortization Expenses [Line Items] | |
2,018 | SFr 63 |
2,019 | 49 |
2,020 | 42 |
2,021 | 11 |
2,022 | 11 |
Thereafter | 35 |
Not amortized due to indefinite useful life | 5 |
Total | 215 |
UBS AG | |
Estimated Aggregated Amortization Expenses [Line Items] | |
2,018 | 63 |
2,019 | 49 |
2,020 | 42 |
2,021 | 11 |
2,022 | 11 |
Thereafter | 35 |
Not amortized due to indefinite useful life | 5 |
Total | SFr 215 |
Other assets (Detail)
Other assets (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Assets [Line Items] | |||
Prime brokerage receivables | [1] | SFr 19,080 | SFr 9,828 |
Recruitment loans to financial advisors | 2,553 | 3,087 | |
Other loans to financial advisors | 565 | 471 | |
Bail deposit | [2] | 1,337 | 1,213 |
Accrued interest income | 577 | 526 | |
Accrued income - other | 781 | 818 | |
Prepaid expenses | 1,013 | 1,010 | |
Settlement and clearing accounts | 716 | 516 | |
VAT and other tax receivables | 359 | 292 | |
Properties and other non-current assets held for sale | 95 | 111 | |
Assets of disposal group held for sale | [3] | 0 | 5,137 |
Other | 2,630 | 2,427 | |
Total other assets | 29,706 | 25,436 | |
UBS AG | |||
Other Assets [Line Items] | |||
Prime brokerage receivables | [1] | 19,080 | 9,828 |
Recruitment loans to financial advisors | 2,553 | 3,087 | |
Other loans to financial advisors | 565 | 471 | |
Bail deposit | [2] | 1,337 | 1,213 |
Accrued interest income | 578 | 526 | |
Accrued income - other | 781 | 822 | |
Prepaid expenses | 819 | 1,008 | |
Settlement and clearing accounts | 716 | 516 | |
VAT and other tax receivables | 292 | 261 | |
Properties and other non-current assets held for sale | 95 | 111 | |
Assets of disposal group held for sale | [3] | 0 | 5,137 |
Other | 2,688 | 2,433 | |
Total other assets | SFr 29,505 | SFr 25,412 | |
[1] | Prime brokerage services include clearance, settlement, custody, financing and portfolio reporting services for corporate clients trading across multiple asset classes. Prime brokerage receivables are mainly comprised of margin lending receivables. | ||
[2] | Refer to Note 20b item 1 for more information. | ||
[3] | Refer to Note 30 for more information. |
Due to banks and customers (Det
Due to banks and customers (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | ||
Deposits From Customers [Line Items] | ||||
Due to banks | SFr 7,533 | [1],[2] | SFr 10,645 | |
Due to customers | 408,999 | [1],[2] | 423,672 | |
of which: demand deposits | 188,580 | 194,044 | ||
of which: retail savings / deposits | 161,828 | 170,729 | ||
of which: time deposits | 47,391 | 52,716 | ||
of which: fiduciary deposits | 11,200 | 6,184 | ||
Total due to banks and customers | 416,532 | 434,317 | ||
UBS AG | ||||
Deposits From Customers [Line Items] | ||||
Due to banks | 7,533 | [1],[2] | 10,645 | |
Due to customers | 447,141 | [1],[2] | 450,199 | |
of which: demand deposits | 190,341 | 195,756 | ||
of which: retail savings / deposits | 161,828 | 170,729 | ||
of which: time deposits | [3] | 83,773 | 77,531 | |
of which: fiduciary deposits | 11,200 | 6,184 | ||
Total due to banks and customers | SFr 454,675 | SFr 460,844 | ||
[1] | Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. | |||
[2] | Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. | |||
[3] | Includes Group-internal funding obtained from UBS Group AG and UBS Group Funding (Switzerland) AG of CHF 35 billion as of 31 December 2017 (31 December 2016: CHF 25 billion). |
Financial liabilities design152
Financial liabilities designated at fair value (Detail 1) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Issued debt instruments | |||
Equity-linked | [1] | SFr 34,162 | SFr 29,831 |
Rates-linked | 5,811 | 10,150 | |
Credit-linked | 2,937 | 4,101 | |
Fixed-rate | 3,921 | 2,972 | |
Other | 2,671 | 2,875 | |
Total issued debt instruments | 49,502 | 49,930 | |
of which: issued by UBS AG with original maturity greater than one year | [2],[3] | 37,266 | 36,347 |
Over-the-counter debt instruments | |||
Equity-linked | [1] | 1,350 | 1,992 |
Other | 2,967 | 2,671 | |
Total over-the-counter debt instruments | 4,317 | 4,663 | |
of which: issued by UBS AG with original maturity greater than one year | [2],[4] | 3,049 | 4,210 |
Repurchase agreements | 375 | 395 | |
Loan commitments and guarantees | [5] | 9 | 29 |
Total | 54,202 | 55,017 | |
of which: life-to-date own credit (gain) / loss | SFr 195 | SFr (141) | |
Unsecured portion of issued debt instruments with original maturity greater than one year | 99.00% | 99.00% | |
Unsecured portion of over-the-counter debt instruments with original maturity greater than one year | 40.00% | 35.00% | |
UBS AG | |||
Issued debt instruments | |||
Equity-linked | [1] | SFr 34,162 | SFr 29,831 |
Rates-linked | 5,811 | 10,150 | |
Credit-linked | 2,937 | 4,101 | |
Fixed-rate | 3,921 | 2,972 | |
Other | 2,671 | 2,875 | |
Total issued debt instruments | 49,502 | 49,930 | |
of which: issued by UBS AG with original maturity greater than one year | [2],[3] | 37,266 | 36,347 |
Over-the-counter debt instruments | |||
Equity-linked | [1] | 1,350 | 1,992 |
Other | 2,967 | 2,671 | |
Total over-the-counter debt instruments | 4,317 | 4,663 | |
of which: issued by UBS AG with original maturity greater than one year | [2],[4] | 3,049 | 4,210 |
Repurchase agreements | 375 | 395 | |
Loan commitments and guarantees | [5] | 9 | 29 |
Total | 54,202 | 55,017 | |
of which: life-to-date own credit (gain) / loss | SFr 195 | SFr (141) | |
Unsecured portion of issued debt instruments with original maturity greater than one year | 99.00% | 99.00% | |
Unsecured portion of over-the-counter debt instruments with original maturity greater than one year | 40.00% | 35.00% | |
[1] | Includes investment fund unit-linked instruments issued. | ||
[2] | Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. | ||
[3] | More than 99% of the balance as of 31 December 2017 was unsecured (31 December 2016: more than 99% of the balance was unsecured). | ||
[4] | More than 40% of the balance as of 31 December 2017 was unsecured (31 December 2016: more than 35% of the balance was unsecured). | ||
[5] | Loan commitments recognized as Financial liabilities designated at fair value until drawn and recognized as Loans. See Note 1a item 3o for more information. |
Financial liabilities design153
Financial liabilities designated at fair value (Detail 2) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | SFr 54,202 | SFr 55,017 | |
UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 51,820 | 52,262 |
UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 10,653 | 9,505 |
UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 41,167 | 42,757 |
Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 2,382 | 2,755 |
Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 1,502 | 1,768 |
Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 879 | 987 |
2,018 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 20,187 | ||
2018 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 19,767 | |
2018 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,339 | |
2018 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 16,428 | |
2018 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 420 | |
2018 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 90 | |
2018 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 330 | |
2,019 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 7,826 | ||
2019 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 7,010 | |
2019 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,350 | |
2019 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,660 | |
2019 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 816 | |
2019 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 797 | |
2019 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 18 | |
2,020 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 5,536 | ||
2020 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,290 | |
2020 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 872 | |
2020 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 4,418 | |
2020 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 246 | |
2020 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 52 | |
2020 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 194 | |
2,021 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 1,772 | ||
2021 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,697 | |
2021 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 401 | |
2021 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,297 | |
2021 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 74 | |
2021 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 74 | |
2021 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
2,022 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 2,510 | ||
2022 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 2,455 | |
2022 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 571 | |
2022 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,883 | |
2022 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 55 | |
2022 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 7 | |
2022 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 48 | |
2023-2027 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 5,866 | ||
2023-2027 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,494 | |
2023-2027 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 511 | |
2023-2027 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 4,983 | |
2023-2027 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 372 | |
2023-2027 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 345 | |
2023-2027 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 27 | |
Thereafter | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 10,506 | ||
Thereafter | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 10,107 | |
Thereafter | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,610 | |
Thereafter | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 6,497 | |
Thereafter | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 399 | |
Thereafter | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 136 | |
Thereafter | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 263 | |
UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 54,202 | 55,017 | |
UBS AG | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 51,820 | 52,262 |
UBS AG | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 10,653 | 9,505 |
UBS AG | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 41,167 | 42,757 |
UBS AG | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 2,382 | 2,755 |
UBS AG | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 1,502 | 1,768 |
UBS AG | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 879 | SFr 987 |
UBS AG | 2018 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 20,187 | ||
UBS AG | 2018 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 19,767 | |
UBS AG | 2018 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,339 | |
UBS AG | 2018 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 16,428 | |
UBS AG | 2018 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 420 | |
UBS AG | 2018 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 90 | |
UBS AG | 2018 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 330 | |
UBS AG | 2019 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 7,826 | ||
UBS AG | 2019 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 7,010 | |
UBS AG | 2019 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,350 | |
UBS AG | 2019 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,660 | |
UBS AG | 2019 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 816 | |
UBS AG | 2019 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 797 | |
UBS AG | 2019 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 18 | |
UBS AG | 2020 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 5,536 | ||
UBS AG | 2020 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,290 | |
UBS AG | 2020 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 872 | |
UBS AG | 2020 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 4,418 | |
UBS AG | 2020 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 246 | |
UBS AG | 2020 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 52 | |
UBS AG | 2020 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 194 | |
UBS AG | 2021 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 1,772 | ||
UBS AG | 2021 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,697 | |
UBS AG | 2021 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 401 | |
UBS AG | 2021 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,297 | |
UBS AG | 2021 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 74 | |
UBS AG | 2021 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 74 | |
UBS AG | 2021 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS AG | 2022 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 2,510 | ||
UBS AG | 2022 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 2,455 | |
UBS AG | 2022 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 571 | |
UBS AG | 2022 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 1,883 | |
UBS AG | 2022 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 55 | |
UBS AG | 2022 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 7 | |
UBS AG | 2022 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 48 | |
UBS AG | 2023-2027 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 5,866 | ||
UBS AG | 2023-2027 | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 5,494 | |
UBS AG | 2023-2027 | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 511 | |
UBS AG | 2023-2027 | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 4,983 | |
UBS AG | 2023-2027 | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 372 | |
UBS AG | 2023-2027 | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 345 | |
UBS AG | 2023-2027 | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 27 | |
UBS AG | Thereafter | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 10,506 | ||
UBS AG | Thereafter | UBS AG - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 10,107 | |
UBS AG | Thereafter | UBS AG - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 3,610 | |
UBS AG | Thereafter | UBS AG - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 6,497 | |
UBS AG | Thereafter | Other subsidiaries - Non-subordinated debt | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 399 | |
UBS AG | Thereafter | Other subsidiaries - Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 136 | |
UBS AG | Thereafter | Other subsidiaries - Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | SFr 263 | |
[1] | Comprises instruments issued by the legal entity UBS AG. | ||
[2] | Comprises instruments issued by subsidiaries of UBS AG. |
Debt issued held at amortize154
Debt issued held at amortized cost (Detail 1) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Issued Held At Amortized Cost [Line Items] | |||
Certificates of deposit | SFr 23,831 | SFr 20,207 | |
Commercial paper | 23,532 | 1,653 | |
Other short-term debt | 3,590 | 4,318 | |
Short-term debt | [1] | 50,953 | 26,178 |
Senior fixed-rate bonds | 32,268 | 27,008 | |
of which: issued by UBS AG with original maturity greater than one year | [2] | 32,256 | 26,850 |
Senior unsecured debt that contributes to total loss-absorbing capacity | 27,233 | 16,890 | |
Covered bonds | 4,112 | 5,836 | |
Subordinated debt | 16,555 | 19,325 | |
of which: high-trigger loss-absorbing additional tier 1 capital instruments | 5,187 | 5,429 | |
of which: low-trigger loss-absorbing additional tier 1 capital instruments | 2,383 | 2,342 | |
of which: low-trigger loss-absorbing tier 2 capital instruments | 8,286 | 10,429 | |
of which: non-Basel III-compliant tier 2 capital instruments | 700 | 1,125 | |
Debt issued through the central bond institutions of the Swiss regional or cantonal banks | 8,345 | 8,302 | |
Other long-term debt | 87 | 112 | |
of which: issued by UBS AG with original maturity greater than one year | [2] | 66 | 94 |
Long-term debt | [3] | 88,599 | 77,472 |
Total debt issued held at amortized cost | [4] | SFr 139,551 | SFr 103,649 |
Unsecured portion of senior fixed-rate bonds issued with maturity greater than one year | 100.00% | 100.00% | |
UBS AG | |||
Debt Issued Held At Amortized Cost [Line Items] | |||
Certificates of deposit | SFr 23,831 | SFr 20,207 | |
Commercial paper | 23,532 | 1,653 | |
Other short-term debt | 3,590 | 4,318 | |
Short-term debt | [1] | 50,953 | 26,178 |
Senior fixed-rate bonds | 32,268 | 27,008 | |
of which: issued by UBS AG with original maturity greater than one year | [2] | 32,256 | 26,850 |
Covered bonds | 4,112 | 5,836 | |
Subordinated debt | 8,985 | 11,554 | |
of which: low-trigger loss-absorbing tier 2 capital instruments | 8,286 | 10,429 | |
of which: non-Basel III-compliant tier 2 capital instruments | 700 | 1,125 | |
Debt issued through the central bond institutions of the Swiss regional or cantonal banks | 8,345 | 8,302 | |
Other long-term debt | 87 | 121 | |
of which: issued by UBS AG with original maturity greater than one year | [2] | 66 | 94 |
Long-term debt | [3] | 53,796 | 52,820 |
Total debt issued held at amortized cost | [4] | SFr 104,749 | SFr 78,998 |
Unsecured portion of senior fixed-rate bonds issued with maturity greater than one year | 100.00% | 100.00% | |
[1] | Debt with an original maturity of less than one year. | ||
[2] | Issued by the legal entity UBS AG. Based on original contractual maturity without considering any early redemption features. 100% of the balance as of 31 December 2017 was unsecured (31 December 2016: 100% of the balance was unsecured). | ||
[3] | Debt with original maturity greater than or equal to one year. The classification of debt issued into short-term and long-term does not consider any early redemption features. | ||
[4] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. |
Debt issued held at amortize155
Debt issued held at amortized cost (Detail 2) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | SFr 139,551 | SFr 103,649 |
2,018 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 60,434 | ||
2,019 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 9,540 | ||
2,020 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 14,370 | ||
2,021 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 8,022 | ||
2,022 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 10,562 | ||
2023-2027 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 24,958 | ||
Thereafter | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 11,666 | ||
UBS Group AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 7,570 | 7,771 |
UBS Group AG | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 7,570 | 7,771 |
UBS Group AG | 2018 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | 2018 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | 2019 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | 2019 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | 2020 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | 2020 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | 2021 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | 2021 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | 2022 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | 2022 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | 2023-2027 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | 2023-2027 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 0 | |
UBS Group AG | Thereafter | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | 7,570 | |
UBS Group AG | Thereafter | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [2] | SFr 7,570 | |
UBS Group AG | Thereafter | Subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [2] | 5.80% | |
UBS Group AG | Thereafter | Subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [2] | 7.10% | |
UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 96,225 | 70,215 |
UBS AG | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 56,115 | 42,724 |
UBS AG | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 31,125 | 15,937 |
UBS AG | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 8,985 | 11,554 |
UBS AG | 2018 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 59,628 | |
UBS AG | 2018 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 38,470 | |
UBS AG | 2018 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 0.00% | |
UBS AG | 2018 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 6.60% | |
UBS AG | 2018 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 21,158 | |
UBS AG | 2018 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | 2019 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 8,793 | |
UBS AG | 2019 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 3,975 | |
UBS AG | 2019 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 2.40% | |
UBS AG | 2019 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.00% | |
UBS AG | 2019 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 4,818 | |
UBS AG | 2019 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | 2020 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 11,891 | |
UBS AG | 2020 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 7,964 | |
UBS AG | 2020 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 0.00% | |
UBS AG | 2020 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.90% | |
UBS AG | 2020 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 3,926 | |
UBS AG | 2020 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | 2021 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 4,107 | |
UBS AG | 2021 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 4,107 | |
UBS AG | 2021 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 0.10% | |
UBS AG | 2021 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 1.40% | |
UBS AG | 2021 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 0 | |
UBS AG | 2021 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | 2022 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 3,492 | |
UBS AG | 2022 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 1,580 | |
UBS AG | 2022 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.00% | |
UBS AG | 2022 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.00% | |
UBS AG | 2022 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 0 | |
UBS AG | 2022 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 1,912 | |
UBS AG | 2022 | Subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 7.60% | |
UBS AG | 2022 | Subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 7.60% | |
UBS AG | 2023-2027 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 7,073 | |
UBS AG | 2023-2027 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | 2023-2027 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | 2023-2027 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 7,073 | |
UBS AG | 2023-2027 | Subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.80% | |
UBS AG | 2023-2027 | Subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 8.80% | |
UBS AG | Thereafter | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 1,241 | |
UBS AG | Thereafter | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 18 | |
UBS AG | Thereafter | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 1,223 | |
UBS AG | Thereafter | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | 35,756 | 25,663 |
Other subsidiaries | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | 29,791 | 23,843 |
Other subsidiaries | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | 5,966 | 1,820 |
Other subsidiaries | 2018 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | 806 | |
Other subsidiaries | 2018 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 805 | |
Other subsidiaries | 2018 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 0.00% | |
Other subsidiaries | 2018 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 6.60% | |
Other subsidiaries | 2018 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 1 | |
Other subsidiaries | 2019 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | 746 | |
Other subsidiaries | 2019 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 747 | |
Other subsidiaries | 2019 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 0.00% | |
Other subsidiaries | 2019 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 2.90% | |
Other subsidiaries | 2019 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 0 | |
Other subsidiaries | 2020 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | 2,479 | |
Other subsidiaries | 2020 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 2,186 | |
Other subsidiaries | 2020 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 0.00% | |
Other subsidiaries | 2020 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 4.90% | |
Other subsidiaries | 2020 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 293 | |
Other subsidiaries | 2021 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | 3,916 | |
Other subsidiaries | 2021 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 2,940 | |
Other subsidiaries | 2021 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 0.00% | |
Other subsidiaries | 2021 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 3.00% | |
Other subsidiaries | 2021 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 976 | |
Other subsidiaries | 2022 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | 7,070 | |
Other subsidiaries | 2022 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 4,535 | |
Other subsidiaries | 2022 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 0.00% | |
Other subsidiaries | 2022 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 4.00% | |
Other subsidiaries | 2022 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 2,535 | |
Other subsidiaries | 2023-2027 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | 17,885 | |
Other subsidiaries | 2023-2027 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 15,723 | |
Other subsidiaries | 2023-2027 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 0.10% | |
Other subsidiaries | 2023-2027 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 4.10% | |
Other subsidiaries | 2023-2027 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 2,162 | |
Other subsidiaries | Thereafter | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | 2,855 | |
Other subsidiaries | Thereafter | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 2,855 | |
Other subsidiaries | Thereafter | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 0.10% | |
Other subsidiaries | Thereafter | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [4] | 4.30% | |
Other subsidiaries | Thereafter | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [4] | SFr 0 | |
UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [1] | 104,749 | 78,998 |
UBS AG | 2018 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 60,434 | ||
UBS AG | 2019 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 9,540 | ||
UBS AG | 2020 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 12,639 | ||
UBS AG | 2021 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 5,162 | ||
UBS AG | 2022 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 4,389 | ||
UBS AG | 2023-2027 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 10,457 | ||
UBS AG | Thereafter | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | 2,128 | ||
UBS AG | UBS AG | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 96,349 | 70,490 |
UBS AG | UBS AG | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 56,239 | 42,999 |
UBS AG | UBS AG | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 31,125 | 15,937 |
UBS AG | UBS AG | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 8,985 | 11,554 |
UBS AG | UBS AG | 2018 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 59,628 | |
UBS AG | UBS AG | 2018 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 38,470 | |
UBS AG | UBS AG | 2018 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 0.00% | |
UBS AG | UBS AG | 2018 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 6.60% | |
UBS AG | UBS AG | 2018 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 21,158 | |
UBS AG | UBS AG | 2018 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 0 | |
UBS AG | UBS AG | 2018 | Subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.10% | |
UBS AG | UBS AG | 2018 | Subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.10% | |
UBS AG | UBS AG | 2019 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 8,793 | |
UBS AG | UBS AG | 2019 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 3,975 | |
UBS AG | UBS AG | 2019 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 2.40% | |
UBS AG | UBS AG | 2019 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.00% | |
UBS AG | UBS AG | 2019 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 4,818 | |
UBS AG | UBS AG | 2019 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | UBS AG | 2020 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 11,913 | |
UBS AG | UBS AG | 2020 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 7,987 | |
UBS AG | UBS AG | 2020 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 0.00% | |
UBS AG | UBS AG | 2020 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.90% | |
UBS AG | UBS AG | 2020 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 3,926 | |
UBS AG | UBS AG | 2020 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | UBS AG | 2021 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 4,162 | |
UBS AG | UBS AG | 2021 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 4,162 | |
UBS AG | UBS AG | 2021 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 0.10% | |
UBS AG | UBS AG | 2021 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 2.50% | |
UBS AG | UBS AG | 2021 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 0 | |
UBS AG | UBS AG | 2021 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | UBS AG | 2022 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 3,555 | |
UBS AG | UBS AG | 2022 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 1,643 | |
UBS AG | UBS AG | 2022 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.00% | |
UBS AG | UBS AG | 2022 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.00% | |
UBS AG | UBS AG | 2022 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 0 | |
UBS AG | UBS AG | 2022 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 1,912 | |
UBS AG | UBS AG | 2022 | Subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 7.60% | |
UBS AG | UBS AG | 2022 | Subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 7.60% | |
UBS AG | UBS AG | 2023-2027 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 7,073 | |
UBS AG | UBS AG | 2023-2027 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | UBS AG | 2023-2027 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | UBS AG | 2023-2027 | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 7,073 | |
UBS AG | UBS AG | 2023-2027 | Subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 4.80% | |
UBS AG | UBS AG | 2023-2027 | Subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [3] | 8.80% | |
UBS AG | UBS AG | Thereafter | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | SFr 1,225 | |
UBS AG | UBS AG | Thereafter | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 3 | |
UBS AG | UBS AG | Thereafter | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 1,223 | |
UBS AG | UBS AG | Thereafter | Subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [3] | 0 | |
UBS AG | Other subsidiaries | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | 8,400 | 8,507 |
UBS AG | Other subsidiaries | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | 8,398 | 8,507 |
UBS AG | Other subsidiaries | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | 1 | SFr 0 |
UBS AG | Other subsidiaries | 2018 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | 806 | |
UBS AG | Other subsidiaries | 2018 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 805 | |
UBS AG | Other subsidiaries | 2018 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 0.40% | |
UBS AG | Other subsidiaries | 2018 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 3.80% | |
UBS AG | Other subsidiaries | 2018 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 1 | |
UBS AG | Other subsidiaries | 2019 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | 746 | |
UBS AG | Other subsidiaries | 2019 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 747 | |
UBS AG | Other subsidiaries | 2019 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 0.00% | |
UBS AG | Other subsidiaries | 2019 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 3.70% | |
UBS AG | Other subsidiaries | 2019 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 0 | |
UBS AG | Other subsidiaries | 2020 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | 726 | |
UBS AG | Other subsidiaries | 2020 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 725 | |
UBS AG | Other subsidiaries | 2020 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 0.10% | |
UBS AG | Other subsidiaries | 2020 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 3.00% | |
UBS AG | Other subsidiaries | 2020 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 1 | |
UBS AG | Other subsidiaries | 2021 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | 1,000 | |
UBS AG | Other subsidiaries | 2021 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 1,000 | |
UBS AG | Other subsidiaries | 2021 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 0.30% | |
UBS AG | Other subsidiaries | 2021 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 3.00% | |
UBS AG | Other subsidiaries | 2021 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 0 | |
UBS AG | Other subsidiaries | 2022 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | 835 | |
UBS AG | Other subsidiaries | 2022 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 835 | |
UBS AG | Other subsidiaries | 2022 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 0.20% | |
UBS AG | Other subsidiaries | 2022 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 3.40% | |
UBS AG | Other subsidiaries | 2022 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 0 | |
UBS AG | Other subsidiaries | 2023-2027 | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | 3,384 | |
UBS AG | Other subsidiaries | 2023-2027 | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 3,384 | |
UBS AG | Other subsidiaries | 2023-2027 | Non-subordinated debt | Fixed-rate | Bottom Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 0.10% | |
UBS AG | Other subsidiaries | 2023-2027 | Non-subordinated debt | Fixed-rate | Top Of Range [Member] | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Interest rates (range in %) | [5] | 4.10% | |
UBS AG | Other subsidiaries | 2023-2027 | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 0 | |
UBS AG | Other subsidiaries | Thereafter | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | 903 | |
UBS AG | Other subsidiaries | Thereafter | Non-subordinated debt | Fixed-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | 903 | |
UBS AG | Other subsidiaries | Thereafter | Non-subordinated debt | Floating-rate | |||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |||
Total | [5] | SFr 0 | |
[1] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | ||
[2] | Comprises debt issued by the legal entity UBS Group AG. | ||
[3] | Comprises debt issued by the legal entity UBS AG. | ||
[4] | Comprises debt issued by other direct subsidiaries of UBS Group AG and by subsidiaries of UBS AG. | ||
[5] | Comprises debt issued by subsidiaries of UBS AG. |
Debt issued held at amortize156
Debt issued held at amortized cost (Narrative) (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Issued Held At Amortized Cost [Line Items] | ||
Hedge accounting impact on carrying value | SFr 34 | SFr 490 |
UBS AG | ||
Debt Issued Held At Amortized Cost [Line Items] | ||
Hedge accounting impact on carrying value | SFr 480 | SFr 821 |
Provisions (Detail)
Provisions (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | |||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | SFr 4,174 | SFr 4,164 | ||
Additions from acquired companies | 7 | 0 | ||
Increase in provisions recognized in the income statement | 988 | 1,433 | ||
Release of provisions recognized in the income statement | (371) | (288) | ||
Provisions used in conformity with designated purpose | (1,604) | (1,152) | ||
Capitalized reinstatement costs | 7 | (2) | ||
Reclassifications | 0 | 10 | ||
Foreign currency translation / unwind of discount | (68) | 10 | ||
Balance at the end of the year | 3,133 | 4,174 | ||
Real estate related reinstatement costs for leasehold improvements | 92 | 87 | ||
Real estate related provisions for onerous lease contracts | 41 | 55 | ||
Personnel related restructuring provisions | 150 | 83 | ||
Personnel related provisions for onerous lease contracts | 348 | 235 | ||
Operational risks | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | [1] | 50 | ||
Additions from acquired companies | [1] | 0 | ||
Increase in provisions recognized in the income statement | [1] | 15 | ||
Release of provisions recognized in the income statement | [1] | (7) | ||
Provisions used in conformity with designated purpose | [1] | (13) | ||
Capitalized reinstatement costs | [1] | 0 | ||
Reclassifications | [1] | 0 | ||
Foreign currency translation / unwind of discount | [1] | (3) | ||
Balance at the end of the year | [1] | 43 | 50 | |
Litigation, regulatory and similar matters | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | [2] | 3,261 | ||
Additions from acquired companies | [2] | 0 | ||
Increase in provisions recognized in the income statement | [2] | 682 | ||
Release of provisions recognized in the income statement | [2] | (209) | ||
Provisions used in conformity with designated purpose | [2] | (1,230) | ||
Capitalized reinstatement costs | [2] | 0 | ||
Reclassifications | [2] | 0 | ||
Foreign currency translation / unwind of discount | [2] | (59) | ||
Balance at the end of the year | [2] | 2,444 | 3,261 | |
Restructuring | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | 498 | |||
Additions from acquired companies | 0 | |||
Increase in provisions recognized in the income statement | 220 | |||
Release of provisions recognized in the income statement | (80) | |||
Provisions used in conformity with designated purpose | (313) | |||
Capitalized reinstatement costs | 0 | |||
Reclassifications | 0 | |||
Foreign currency translation / unwind of discount | (2) | |||
Balance at the end of the year | 322 | [3] | 498 | |
Loan commitments and guarantees | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | 54 | |||
Additions from acquired companies | 0 | |||
Increase in provisions recognized in the income statement | 11 | |||
Release of provisions recognized in the income statement | (32) | |||
Provisions used in conformity with designated purpose | 0 | |||
Capitalized reinstatement costs | 0 | |||
Reclassifications | 0 | |||
Foreign currency translation / unwind of discount | 0 | |||
Balance at the end of the year | 33 | 54 | ||
Real estate | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | 142 | |||
Additions from acquired companies | 0 | |||
Increase in provisions recognized in the income statement | 3 | |||
Release of provisions recognized in the income statement | (2) | |||
Provisions used in conformity with designated purpose | (12) | |||
Capitalized reinstatement costs | 7 | |||
Reclassifications | 0 | |||
Foreign currency translation / unwind of discount | (5) | |||
Balance at the end of the year | 134 | [4] | 142 | |
Employee benefits | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | [5] | 77 | ||
Additions from acquired companies | [5] | 0 | ||
Increase in provisions recognized in the income statement | [5] | 12 | ||
Release of provisions recognized in the income statement | [5] | (21) | ||
Provisions used in conformity with designated purpose | [5] | (1) | ||
Capitalized reinstatement costs | [5] | 0 | ||
Reclassifications | [5] | 0 | ||
Foreign currency translation / unwind of discount | [5] | 1 | ||
Balance at the end of the year | [5] | 68 | 77 | |
Other | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | 91 | |||
Additions from acquired companies | 7 | |||
Increase in provisions recognized in the income statement | 45 | |||
Release of provisions recognized in the income statement | (20) | |||
Provisions used in conformity with designated purpose | (34) | |||
Capitalized reinstatement costs | 0 | |||
Reclassifications | 0 | |||
Foreign currency translation / unwind of discount | 1 | |||
Balance at the end of the year | 89 | 91 | ||
UBS AG | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | 4,169 | 4,163 | ||
Additions from acquired companies | 7 | 0 | ||
Increase in provisions recognized in the income statement | 941 | 1,430 | ||
Release of provisions recognized in the income statement | (362) | (288) | ||
Provisions used in conformity with designated purpose | (1,571) | (1,152) | ||
Capitalized reinstatement costs | 4 | (1) | ||
Reclassifications | (36) | 7 | ||
Foreign currency translation / unwind of discount | (68) | 10 | ||
Balance at the end of the year | 3,084 | 4,169 | ||
Real estate related reinstatement costs for leasehold improvements | 86 | 85 | ||
Real estate related provisions for onerous lease contracts | 39 | 53 | ||
Personnel related restructuring provisions | 150 | 54 | ||
Personnel related provisions for onerous lease contracts | 348 | 234 | ||
UBS AG | Operational risks | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | [1] | 50 | ||
Additions from acquired companies | [1] | 0 | ||
Increase in provisions recognized in the income statement | [1] | 15 | ||
Release of provisions recognized in the income statement | [1] | (7) | ||
Provisions used in conformity with designated purpose | [1] | (13) | ||
Capitalized reinstatement costs | [1] | 0 | ||
Reclassifications | [1] | 0 | ||
Foreign currency translation / unwind of discount | [1] | (3) | ||
Balance at the end of the year | [1] | 43 | 50 | |
UBS AG | Litigation, regulatory and similar matters | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | [2] | 3,261 | ||
Additions from acquired companies | [2] | 0 | ||
Increase in provisions recognized in the income statement | [2] | 682 | ||
Release of provisions recognized in the income statement | [2] | (209) | ||
Provisions used in conformity with designated purpose | [2] | (1,230) | ||
Capitalized reinstatement costs | [2] | 0 | ||
Reclassifications | [2] | 0 | ||
Foreign currency translation / unwind of discount | [2] | (59) | ||
Balance at the end of the year | [2] | 2,444 | 3,261 | |
UBS AG | Restructuring | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | 498 | |||
Additions from acquired companies | 0 | |||
Increase in provisions recognized in the income statement | 174 | |||
Release of provisions recognized in the income statement | (74) | |||
Provisions used in conformity with designated purpose | (280) | |||
Capitalized reinstatement costs | 0 | |||
Reclassifications | (21) | |||
Foreign currency translation / unwind of discount | (2) | |||
Balance at the end of the year | 294 | [3] | 498 | |
UBS AG | Loan commitments and guarantees | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | 54 | |||
Additions from acquired companies | 0 | |||
Increase in provisions recognized in the income statement | 11 | |||
Release of provisions recognized in the income statement | (32) | |||
Provisions used in conformity with designated purpose | 0 | |||
Capitalized reinstatement costs | 0 | |||
Reclassifications | 0 | |||
Foreign currency translation / unwind of discount | 0 | |||
Balance at the end of the year | 33 | 54 | ||
UBS AG | Real estate | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | 138 | |||
Additions from acquired companies | 0 | |||
Increase in provisions recognized in the income statement | 3 | |||
Release of provisions recognized in the income statement | (2) | |||
Provisions used in conformity with designated purpose | (12) | |||
Capitalized reinstatement costs | 4 | |||
Reclassifications | 0 | |||
Foreign currency translation / unwind of discount | (5) | |||
Balance at the end of the year | 125 | [6] | 138 | |
UBS AG | Employee benefits | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | [5] | 77 | ||
Additions from acquired companies | [5] | 0 | ||
Increase in provisions recognized in the income statement | [5] | 11 | ||
Release of provisions recognized in the income statement | [5] | (18) | ||
Provisions used in conformity with designated purpose | [5] | (1) | ||
Capitalized reinstatement costs | [5] | 0 | ||
Reclassifications | [5] | (14) | ||
Foreign currency translation / unwind of discount | [5] | 1 | ||
Balance at the end of the year | [5] | 55 | 77 | |
UBS AG | Other | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of the year | 91 | |||
Additions from acquired companies | 7 | |||
Increase in provisions recognized in the income statement | 45 | |||
Release of provisions recognized in the income statement | (20) | |||
Provisions used in conformity with designated purpose | (34) | |||
Capitalized reinstatement costs | 0 | |||
Reclassifications | 0 | |||
Foreign currency translation / unwind of discount | 1 | |||
Balance at the end of the year | SFr 89 | SFr 91 | ||
[1] | Comprises provisions for losses resulting from security risks and transaction processing risks. | |||
[2] | Comprises provisions for losses resulting from legal, liability and compliance risks. | |||
[3] | Primarily consists of personnel-related restructuring provisions of CHF 83 million as of 31 December 2017 (31 December 2016: CHF 150 million) and provisions for onerous lease contracts of CHF 235 million as of 31 December 2017 (31 December 2016: CHF 348 million). | |||
[4] | Consists of reinstatement costs for leasehold improvements of CHF 92 million as of 31 December 2017 (31 December 2016: CHF 87 million) and provisions for onerous lease contracts of CHF 41 million as of 31 December 2017 (31 December 2016: CHF 55 million). | |||
[5] | Includes provisions for sabbatical and anniversary awards as well as provisions for severance that are not part of restructuring provisions. | |||
[6] | Consists of reinstatement costs for leasehold improvements of CHF 86 million as of 31 December 2017 (31 December 2016: CHF 85 million) and provisions for onerous lease contracts of CHF 39 million as of 31 December 2017 (31 December 2016: CHF 53 million). |
Provisions (Narrative) (Detail)
Provisions (Narrative) (Detail) - Restructuring | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Other Provisions [Line Items] | |
Description of expected timing of outflows | The use of onerous lease provisions is driven by the maturities of the underlying lease contracts. Severance-related provisions are used within a short time period, usually within six months, but potential changes in amount may be triggered when natural staff attrition reduces the number of people affected by a restructuring and therefore the estimated costs. |
UBS AG | |
Disclosure Of Other Provisions [Line Items] | |
Description of expected timing of outflows | The use of onerous lease provisions is driven by the maturities of the underlying lease contracts. Severance-related provisions are used within a short time period, usually within six months, but potential changes in amount may be triggered when natural staff attrition reduces the number of people affected by a restructuring and therefore the estimated costs. |
Litigation, regulatory and s159
Litigation, regulatory and similar matters (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure Of Operating Segments [Line Items] | |||
Increase in provisions recognized in the income statement | SFr 988 | SFr 1,433 | |
Release of provisions recognized in the income statement | (371) | (288) | |
Provisions used in conformity with designated purpose | (1,604) | (1,152) | |
Foreign currency translation / unwind of discount | (68) | 10 | |
Litigation, regulatory and similar matters by segment | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 3,261 | 2,983 |
Increase in provisions recognized in the income statement | [1] | 682 | 856 |
Release of provisions recognized in the income statement | [1] | (209) | (48) |
Provisions used in conformity with designated purpose | [1] | (1,230) | (554) |
Foreign currency translation / unwind of discount | [1] | (59) | 25 |
Balance at the end of the year | [1] | 2,444 | 3,261 |
Litigation, regulatory and similar matters by segment | Wealth Management | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 292 | |
Increase in provisions recognized in the income statement | [1] | 30 | |
Release of provisions recognized in the income statement | [1] | (4) | |
Provisions used in conformity with designated purpose | [1] | (135) | |
Foreign currency translation / unwind of discount | [1] | 24 | |
Balance at the end of the year | [1] | 207 | 292 |
Litigation, regulatory and similar matters by segment | Wealth Management Americas | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 425 | |
Increase in provisions recognized in the income statement | [1] | 158 | |
Release of provisions recognized in the income statement | [1] | (12) | |
Provisions used in conformity with designated purpose | [1] | (207) | |
Foreign currency translation / unwind of discount | [1] | (17) | |
Balance at the end of the year | [1] | 348 | 425 |
Litigation, regulatory and similar matters by segment | Personal & Corporate Banking | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 78 | |
Increase in provisions recognized in the income statement | [1] | 3 | |
Release of provisions recognized in the income statement | [1] | (1) | |
Provisions used in conformity with designated purpose | [1] | (2) | |
Foreign currency translation / unwind of discount | [1] | 2 | |
Balance at the end of the year | [1] | 79 | 78 |
Litigation, regulatory and similar matters by segment | Asset Management | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 5 | |
Increase in provisions recognized in the income statement | [1] | 6 | |
Release of provisions recognized in the income statement | [1],[2] | (9) | |
Provisions used in conformity with designated purpose | [1] | (1) | |
Foreign currency translation / unwind of discount | [1] | 0 | |
Balance at the end of the year | [1] | 1 | 5 |
Increase in Provisions for Other in Note 20a corresponding to a release of Provisions for Litigation, Regulatory and Similar Matters in the business division Asset Management | 5 | ||
Litigation, regulatory and similar matters by segment | Investment Bank | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 616 | |
Increase in provisions recognized in the income statement | [1] | 8 | |
Release of provisions recognized in the income statement | [1] | (49) | |
Provisions used in conformity with designated purpose | [1] | (216) | |
Foreign currency translation / unwind of discount | [1] | (15) | |
Balance at the end of the year | [1] | 345 | 616 |
Litigation, regulatory and similar matters by segment | Corporate Center - Services | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 259 | |
Increase in provisions recognized in the income statement | [1] | 248 | |
Release of provisions recognized in the income statement | [1] | (6) | |
Provisions used in conformity with designated purpose | [1] | (262) | |
Foreign currency translation / unwind of discount | [1] | 1 | |
Balance at the end of the year | [1] | 240 | 259 |
Litigation, regulatory and similar matters by segment | Corporate Center - Group ALM | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 0 | |
Increase in provisions recognized in the income statement | [1] | 0 | |
Release of provisions recognized in the income statement | [1] | 0 | |
Provisions used in conformity with designated purpose | [1] | 0 | |
Foreign currency translation / unwind of discount | [1] | 0 | |
Balance at the end of the year | [1] | 0 | 0 |
Litigation, regulatory and similar matters by segment | CC - Non-core and Legacy Portfolio | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 1,585 | |
Increase in provisions recognized in the income statement | [1] | 229 | |
Release of provisions recognized in the income statement | [1] | (129) | |
Provisions used in conformity with designated purpose | [1] | (406) | |
Foreign currency translation / unwind of discount | [1] | (55) | |
Balance at the end of the year | [1] | 1,224 | 1,585 |
UBS AG | |||
Disclosure Of Operating Segments [Line Items] | |||
Increase in provisions recognized in the income statement | 941 | 1,430 | |
Release of provisions recognized in the income statement | (362) | (288) | |
Provisions used in conformity with designated purpose | (1,571) | (1,152) | |
Foreign currency translation / unwind of discount | (68) | 10 | |
UBS AG | Litigation, regulatory and similar matters by segment | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 3,261 | 2,983 |
Increase in provisions recognized in the income statement | [1] | 682 | 856 |
Release of provisions recognized in the income statement | [1] | (209) | (48) |
Provisions used in conformity with designated purpose | [1] | (1,230) | (554) |
Foreign currency translation / unwind of discount | [1] | (59) | 25 |
Balance at the end of the year | [1] | 2,444 | 3,261 |
UBS AG | Litigation, regulatory and similar matters by segment | Wealth Management | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 292 | |
Increase in provisions recognized in the income statement | [1] | 30 | |
Release of provisions recognized in the income statement | [1] | (4) | |
Provisions used in conformity with designated purpose | [1] | (135) | |
Foreign currency translation / unwind of discount | [1] | 24 | |
Balance at the end of the year | [1] | 207 | 292 |
UBS AG | Litigation, regulatory and similar matters by segment | Wealth Management Americas | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 425 | |
Increase in provisions recognized in the income statement | [1] | 158 | |
Release of provisions recognized in the income statement | [1] | (12) | |
Provisions used in conformity with designated purpose | [1] | (207) | |
Foreign currency translation / unwind of discount | [1] | (17) | |
Balance at the end of the year | [1] | 348 | 425 |
UBS AG | Litigation, regulatory and similar matters by segment | Personal & Corporate Banking | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 78 | |
Increase in provisions recognized in the income statement | [1] | 3 | |
Release of provisions recognized in the income statement | [1] | (1) | |
Provisions used in conformity with designated purpose | [1] | (2) | |
Foreign currency translation / unwind of discount | [1] | 2 | |
Balance at the end of the year | [1] | 79 | 78 |
UBS AG | Litigation, regulatory and similar matters by segment | Asset Management | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 5 | |
Increase in provisions recognized in the income statement | [1] | 6 | |
Release of provisions recognized in the income statement | [1],[2] | (9) | |
Provisions used in conformity with designated purpose | [1] | (1) | |
Foreign currency translation / unwind of discount | [1] | 0 | |
Balance at the end of the year | [1] | 1 | 5 |
Increase in Provisions for Other in Note 20a corresponding to a release of Provisions for Litigation, Regulatory and Similar Matters in the business division Asset Management | 5 | ||
UBS AG | Litigation, regulatory and similar matters by segment | Investment Bank | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 616 | |
Increase in provisions recognized in the income statement | [1] | 8 | |
Release of provisions recognized in the income statement | [1] | (49) | |
Provisions used in conformity with designated purpose | [1] | (216) | |
Foreign currency translation / unwind of discount | [1] | (15) | |
Balance at the end of the year | [1] | 345 | 616 |
UBS AG | Litigation, regulatory and similar matters by segment | Corporate Center - Services | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 259 | |
Increase in provisions recognized in the income statement | [1] | 248 | |
Release of provisions recognized in the income statement | [1] | (6) | |
Provisions used in conformity with designated purpose | [1] | (262) | |
Foreign currency translation / unwind of discount | [1] | 1 | |
Balance at the end of the year | [1] | 240 | 259 |
UBS AG | Litigation, regulatory and similar matters by segment | Corporate Center - Group ALM | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 0 | |
Increase in provisions recognized in the income statement | [1] | 0 | |
Release of provisions recognized in the income statement | [1] | 0 | |
Provisions used in conformity with designated purpose | [1] | 0 | |
Foreign currency translation / unwind of discount | [1] | 0 | |
Balance at the end of the year | [1] | 0 | 0 |
UBS AG | Litigation, regulatory and similar matters by segment | CC - Non-core and Legacy Portfolio | |||
Disclosure Of Operating Segments [Line Items] | |||
Balance at the beginning of the year | [1] | 1,585 | |
Increase in provisions recognized in the income statement | [1] | 229 | |
Release of provisions recognized in the income statement | [1] | (129) | |
Provisions used in conformity with designated purpose | [1] | (406) | |
Foreign currency translation / unwind of discount | [1] | (55) | |
Balance at the end of the year | [1] | SFr 1,224 | SFr 1,585 |
[1] | Provisions, if any, for the matters described in this Note are recorded in Wealth Management (item 3), Wealth Management Americas (item 4), the Investment Bank (item 7) and Corporate Center – Non-core and Legacy Portfolio (item 2). Provisions, if any, for the matters described in items 1 and 6 of this Note are allocated between Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this Note in item 5 are allocated between the Investment Bank, Corporate Center – Services and Corporate Center – Non-core and Legacy Portfolio. | ||
[2] | In 2017, a release of CHF 5 million was recognized in Provisions for litigation, regulatory and similar matters, with a corresponding increase in Other provisions. |
Litigation, regulatory and s160
Litigation, regulatory and similar matters (Narrative) (Detail 1) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |
Indication of uncertainties of amount or timing of outflows | Such matters are subject to many uncertainties, and the outcome and the timing of resolution are often difficult to predict, particularly in the earlier stages of a case. There are also situations where the Group may enter into a settlement agreement. This may occur in order to avoid the expense, management distraction or reputational implications of continuing to contest liability, even for those matters for which the Group believes it should be exonerated. The uncertainties inherent in all such matters affect the amount and timing of any potential outflows for both matters with respect to which provisions have been established and other contingent liabilities. The Group makes provisions for such matters brought against it when, in the opinion of management after seeking legal advice, it is more likely than not that the Group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required, and the amount can be reliably estimated. Where these factors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against the Group, but are nevertheless expected to be, based on the Group’s experience with similar asserted claims. If any of those conditions is not met, such matters result in contingent liabilities. If the amount of an obligation cannot be reliably estimated, a liability exists that is not recognized even if an outflow of resources is probable. Accordingly, no provision is established even if the potential outflow of resources with respect to such matters could be significant. |
Explanation of reason for non-disclosure of information regarding provision | In the case of certain matters below, we state that we have established a provision, and for the other matters, we make no such statement. When we make this statement and we expect disclosure of the amount of a provision to prejudice seriously our position with other parties in the matter because it would reveal what UBS believes to be the probable and reliably estimable outflow, we do not disclose that amount. In some cases we are subject to confidentiality obligations that preclude such disclosure. With respect to the matters for which we do not state whether we have established a provision, either (a) we have not established a provision, in which case the matter is treated as a contingent liability under the applicable accounting standard, or (b) we have established a provision but expect disclosure of that fact to prejudice seriously our position with other parties in the matter because it would reveal the fact that UBS believes an outflow of resources to be probable and reliably estimable. |
Explanation of reason for non-disclosure of information regarding contingent liability | It is not practicable to provide an aggregate estimate of liability for our litigation, regulatory and similar matters as a class of contingent liabilities. Doing so would require us to provide speculative legal assessments as to claims and proceedings that involve unique fact patterns or novel legal theories, that have not yet been initiated or are at early stages of adjudication, or as to which alleged damages have not been quantified by the claimants. Although we therefore cannot provide a numerical estimate of the future losses that could arise from litigation, regulatory and similar matters, we believe that the aggregate amount of possible future losses from this class that are more than remote substantially exceeds the level of current provisions. Litigation, regulatory and similar matters may also result in non-monetary penalties and consequences. For example, the Non-Prosecution Agreement (NPA) described in item 5 of this Note, which we entered into with the US Department of Justice (DOJ), Criminal Division, Fraud Section in connection with our submissions of benchmark interest rates, including, among others, the British Bankers’ Association London Interbank Offered Rate (LIBOR), was terminated by the DOJ based on its determination that we had committed a US crime in relation to foreign exchange matters. As a consequence, UBS AG pleaded guilty to one count of wire fraud for conduct in the LIBOR matter, paid a fine and is subject to probation through January 2020. A guilty plea to, or conviction of, a crime could have material consequences for UBS. Resolution of regulatory proceedings may require us to obtain waivers of regulatory disqualifications to maintain certain operations, may entitle regulatory authorities to limit, suspend or terminate licenses and regulatory authorizations, and may permit financial market utilities to limit, suspend or terminate our participation in such utilities. Failure to obtain such waivers, or any limitation, suspension or termination of licenses, authorizations or participations, could have material consequences for UBS. |
UBS AG | |
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |
Indication of uncertainties of amount or timing of outflows | Such matters are subject to many uncertainties, and the outcome and the timing of resolution are often difficult to predict, particularly in the earlier stages of a case. There are also situations where UBS may enter into a settlement agreement. This may occur in order to avoid the expense, management distraction or reputational implications of continuing to contest liability, even for those matters for which UBS believes it should be exonerated. The uncertainties inherent in all such matters affect the amount and timing of any potential outflows for both matters with respect to which provisions have been established and other contingent liabilities. UBS makes provisions for such matters brought against it when, in the opinion of management after seeking legal advice, it is more likely than not that UBS has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required, and the amount can be reliably estimated. Where these factors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against UBS, but are nevertheless expected to be, based on UBS’s experience with similar asserted claims. If any of those conditions is not met, such matters result in contingent liabilities. If the amount of an obligation cannot be reliably estimated, a liability exists that is not recognized even if an outflow of resources is probable. Accordingly, no provision is established even if the potential outflow of resources with respect to such matters could be significant. |
Explanation of reason for non-disclosure of information regarding provision | In the case of certain matters below, we state that we have established a provision, and for the other matters, we make no such statement. When we make this statement and we expect disclosure of the amount of a provision to prejudice seriously our position with other parties in the matter because it would reveal what UBS believes to be the probable and reliably estimable outflow, we do not disclose that amount. In some cases we are subject to confidentiality obligations that preclude such disclosure. With respect to the matters for which we do not state whether we have established a provision, either (a) we have not established a provision, in which case the matter is treated as a contingent liability under the applicable accounting standard, or (b) we have established a provision but expect disclosure of that fact to prejudice seriously our position with other parties in the matter because it would reveal the fact that UBS believes an outflow of resources to be probable and reliably estimable. |
Explanation of reason for non-disclosure of information regarding contingent liability | It is not practicable to provide an aggregate estimate of liability for our litigation, regulatory and similar matters as a class of contingent liabilities. Doing so would require us to provide speculative legal assessments as to claims and proceedings that involve unique fact patterns or novel legal theories, that have not yet been initiated or are at early stages of adjudication, or as to which alleged damages have not been quantified by the claimants. Although we therefore cannot provide a numerical estimate of the future losses that could arise from litigation, regulatory and similar matters, we believe that the aggregate amount of possible future losses from this class that are more than remote substantially exceeds the level of current provisions. Litigation, regulatory and similar matters may also result in non-monetary penalties and consequences. For example, the Non-Prosecution Agreement (NPA) described in item 5 of this Note, which we entered into with the US Department of Justice (DOJ), Criminal Division, Fraud Section in connection with our submissions of benchmark interest rates, including, among others, the British Bankers’ Association London Interbank Offered Rate (LIBOR), was terminated by the DOJ based on its determination that we had committed a US crime in relation to foreign exchange matters. As a consequence, UBS AG pleaded guilty to one count of wire fraud for conduct in the LIBOR matter, paid a fine and is subject to probation through January 2020. A guilty plea to, or conviction of, a crime could have material consequences for UBS. Resolution of regulatory proceedings may require us to obtain waivers of regulatory disqualifications to maintain certain operations, may entitle regulatory authorities to limit, suspend or terminate licenses and regulatory authorizations, and may permit financial market utilities to limit, suspend or terminate our participation in such utilities. Failure to obtain such waivers, or any limitation, suspension or termination of licenses, authorizations or participations, could have material consequences for UBS. |
Litigation, regulatory and s161
Litigation, regulatory and similar matters (Narrative) (Detail 2) € in Millions, HKD in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2018USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2017HKD | Dec. 31, 2017USD ($) | |
Inquiries regarding cross-border wealth management businesses | Investigations in France involving UBS AG | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Bail ("caution") ordered to be paid | € | € 1,100 | |||
Inquiries regarding cross-border wealth management businesses | Investigations in France involving UBS (France) S.A. | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Bail ("caution") ordered to be paid | € | 40 | |||
Reduced bail ("caution") ordered to be paid | € | € 10 | |||
Claims related to sales of residential mortgage-backed securities (RMBS) and mortgages | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Amount sponsored by by UBS Real Estate Securities Inc. (UBS RESI) in RMBS from 2004 through 2007 | $ 80,000 | |||
Original principal balance of pools of US residential mortgage loans sold from 2004 through 2007 | 19,000 | |||
US residential mortgage loans originated from 2006 to 2008 | 1,500 | |||
Claims related to sales of residential mortgage-backed securities (RMBS) and mortgages - Lawsuits related to contractual representations and warranties concerning mortgages and RMBS | Trusee Suit in the District Court for the Southern District of New York (SDNY) | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Original principal balance of loans demanded to be repurchased in a lawsuit filed in 2012 in the Southern District of New York | $ 2,000 | |||
Number of loans at issue at trial of lawsuit filed in Southern District of New York seeking repurchase of residential mortgage loans | 9,000 | 9,000 | 9,000 | |
Proposed agreement between the parties for settlement of the Trustee Suit, subject to conditions | $ 543 | |||
Madoff | claims filed in Luxembourg by liquidators of two Luxembourg funds against UBS entities, non-UBS entities and certain individuals | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Amounts claimed | € | € 2,100 | |||
Madoff | claims filed in the US by BMIS Trustee against UBS entities and various other parties | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Minimum total claims against all defendants | 2,000 | |||
Puerto Rico | OCFI's examination of UBS's operations from January 2006 through September 2013 | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | 7.7 | |||
Puerto Rico | SEC investigation on UBS Financial Services Incorporated of Puerto Rico (UBS PR) | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | 15 | |||
Puerto Rico | FINRA investigation on UBS Financial Services Incorporated of Puerto Rico (UBS PR) | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | 18.5 | |||
Puerto Rico | Action filed on behalf of Employee Retirement System of the Commonwealth of Puerto Rico (System) against over 40 defendants | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Amount of bonds issued and underwritten by the System | 3,000 | |||
Minimum total claims against all defendants | 800 | |||
Puerto Rico | Customer arbitration claims | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Amounts claimed | 2,400 | |||
Claimed damages that have been resolved | 1,400 | |||
Foreign exchange, LIBOR and benchmark rates, and other trading practices - Foreign exchange-related civil litigation | claims under the Commodity Exchange Act | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | 141 | |||
Foreign exchange, LIBOR and benchmark rates, and other trading practices - LIBOR and other benchmark-related civil litigation | ISDAFIX class action | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | $ 14 | |||
Foreign exchange, LIBOR and benchmark rates, and other trading practices - Foreign exchange-related regulatory matters | US Commodity Futures Trading Commission (CFTC) investigations | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | $ 15 | |||
Investigation of UBS's role in initial public offerings in Hong Kong | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Fine provided in decision notice issued by SFC | HKD | HKD 119 | |||
Suspension from corporate finance advisory services in Hong Kong (in months) provided in decision notice issued by SFC | 18 months | 18 months | 18 months | |
UBS AG | Inquiries regarding cross-border wealth management businesses | Investigations in France involving UBS AG | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Bail ("caution") ordered to be paid | € | € 1,100 | |||
UBS AG | Inquiries regarding cross-border wealth management businesses | Investigations in France involving UBS (France) S.A. | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Bail ("caution") ordered to be paid | € | 40 | |||
Reduced bail ("caution") ordered to be paid | € | € 10 | |||
UBS AG | Claims related to sales of residential mortgage-backed securities (RMBS) and mortgages | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Amount sponsored by by UBS Real Estate Securities Inc. (UBS RESI) in RMBS from 2004 through 2007 | $ 80,000 | |||
Original principal balance of pools of US residential mortgage loans sold from 2004 through 2007 | 19,000 | |||
US residential mortgage loans originated from 2006 to 2008 | 1,500 | |||
UBS AG | Claims related to sales of residential mortgage-backed securities (RMBS) and mortgages - Lawsuits related to contractual representations and warranties concerning mortgages and RMBS | Trusee Suit in the District Court for the Southern District of New York (SDNY) | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Original principal balance of loans demanded to be repurchased in a lawsuit filed in 2012 in the Southern District of New York | $ 2,000 | |||
Number of loans at issue at trial of lawsuit filed in Southern District of New York seeking repurchase of residential mortgage loans | 9,000 | 9,000 | 9,000 | |
Proposed agreement between the parties for settlement of the Trustee Suit, subject to conditions | $ 543 | |||
UBS AG | Madoff | claims filed in Luxembourg by liquidators of two Luxembourg funds against UBS entities, non-UBS entities and certain individuals | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Amounts claimed | € | € 2,100 | |||
UBS AG | Madoff | claims filed in the US by BMIS Trustee against UBS entities and various other parties | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Minimum total claims against all defendants | 2,000 | |||
UBS AG | Puerto Rico | OCFI's examination of UBS's operations from January 2006 through September 2013 | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | 7.7 | |||
UBS AG | Puerto Rico | SEC investigation on UBS Financial Services Incorporated of Puerto Rico (UBS PR) | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | 15 | |||
UBS AG | Puerto Rico | FINRA investigation on UBS Financial Services Incorporated of Puerto Rico (UBS PR) | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | 18.5 | |||
UBS AG | Puerto Rico | Action filed on behalf of Employee Retirement System of the Commonwealth of Puerto Rico (System) against over 40 defendants | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Amount of bonds issued and underwritten by the System | 3,000 | |||
Minimum total claims against all defendants | 800 | |||
UBS AG | Puerto Rico | Customer arbitration claims | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Amounts claimed | 2,400 | |||
Claimed damages that have been resolved | 1,400 | |||
UBS AG | Foreign exchange, LIBOR and benchmark rates, and other trading practices - Foreign exchange-related civil litigation | claims under the Commodity Exchange Act | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | 141 | |||
UBS AG | Foreign exchange, LIBOR and benchmark rates, and other trading practices - LIBOR and other benchmark-related civil litigation | ISDAFIX class action | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | $ 14 | |||
UBS AG | Foreign exchange, LIBOR and benchmark rates, and other trading practices - Foreign exchange-related regulatory matters | US Commodity Futures Trading Commission (CFTC) investigations | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | $ 15 | |||
UBS AG | Investigation of UBS's role in initial public offerings in Hong Kong | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Fine provided in decision notice issued by SFC | HKD | HKD 119 | |||
Suspension from corporate finance advisory services in Hong Kong (in months) provided in decision notice issued by SFC | 18 months | 18 months | 18 months |
Other liabilities (Detail)
Other liabilities (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Liabilities [Line Items] | |||
Prime brokerage payables | [1] | SFr 29,646 | SFr 31,973 |
Amounts due under unit-linked investment contracts | 11,523 | 9,286 | |
Compensation-related liabilities | 7,674 | 7,421 | |
of which: accrued expenses | 2,670 | 2,423 | |
of which: Deferred Contingent Capital Plan | 1,993 | 1,625 | |
of which: other deferred compensation plans | 2,086 | 2,107 | |
of which: net defined benefit pension and post-employment liabilities | [2],[3] | 925 | 1,266 |
Third-party interest in consolidated investment funds | 254 | 701 | |
Settlement and clearing accounts | 1,395 | 1,012 | |
Current and deferred tax liabilities | [4] | 912 | 949 |
VAT and other tax payables | 415 | 503 | |
Deferred income | 150 | 168 | |
Accrued interest expenses | 1,513 | 1,553 | |
Other accrued expenses | 2,444 | 2,448 | |
Liabilities of disposal group held for sale | [5] | 0 | 5,213 |
Other | 1,138 | 793 | |
Total other liabilities | 57,064 | 62,020 | |
UBS AG | |||
Other Liabilities [Line Items] | |||
Prime brokerage payables | [1] | 29,646 | 31,973 |
Amounts due under unit-linked investment contracts | 11,523 | 9,286 | |
Compensation-related liabilities | 4,909 | 5,256 | |
of which: accrued expenses | 2,372 | 2,367 | |
of which: other deferred compensation plans | 1,613 | 1,623 | |
of which: net defined benefit pension and post-employment liabilities | [2],[3] | 925 | 1,266 |
Third-party interest in consolidated investment funds | 269 | 751 | |
Settlement and clearing accounts | 1,380 | 1,011 | |
Current and deferred tax liabilities | [4] | 844 | 911 |
VAT and other tax payables | 378 | 487 | |
Deferred income | 150 | 168 | |
Accrued interest expenses | 1,533 | 1,571 | |
Other accrued expenses | 2,105 | 2,427 | |
Liabilities of disposal group held for sale | [5] | 0 | 5,213 |
Other | 2,252 | 1,390 | |
Total other liabilities | SFr 54,990 | SFr 60,443 | |
[1] | Prime brokerage services include clearance, settlement, custody, financing and portfolio reporting services for corporate clients trading across multiple asset classes. Prime brokerage payables are mainly comprised of client securities financing and deposits. | ||
[2] | Refer to Note 21. | ||
[3] | Refer to Note 26 for more information. | ||
[4] | Refer to Note 8 for more information. | ||
[5] | Refer to Note 30 for more information. |
FVM - Valuation adjustments (De
FVM - Valuation adjustments (Detail 1) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Deferred Day-1 Profit Or Loss [Line Items] | |||
Balance at the beginning of the year | SFr 371 | SFr 421 | SFr 480 |
Profit / (loss) deferred on new transactions | 242 | 254 | 268 |
(Profit) / loss recognized in the income statement | (274) | (290) | (321) |
(Profit) / loss recognized in other comprehensive income | (23) | ||
Foreign currency translation | (10) | 9 | (6) |
Balance at the end of the year | 329 | 371 | 421 |
UBS AG | |||
Deferred Day-1 Profit Or Loss [Line Items] | |||
Balance at the beginning of the year | 371 | 421 | 480 |
Profit / (loss) deferred on new transactions | 242 | 254 | 268 |
(Profit) / loss recognized in the income statement | (274) | (290) | (321) |
(Profit) / loss recognized in other comprehensive income | (23) | ||
Foreign currency translation | (10) | 9 | (6) |
Balance at the end of the year | SFr 329 | SFr 371 | SFr 421 |
FVM - Valuation adjustments 164
FVM - Valuation adjustments (Detail 2) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Valuation Adjustments On Financial Instruments [Line Items] | |||
Credit valuation adjustments | [1] | SFr (113) | SFr (216) |
Funding valuation adjustments | (49) | (106) | |
Debit valuation adjustments | 2 | 5 | |
Other valuation adjustments | (715) | (713) | |
of which: liquidity | (465) | (439) | |
of which: model uncertainty | (250) | (274) | |
UBS AG | |||
Valuation Adjustments On Financial Instruments [Line Items] | |||
Credit valuation adjustments | [1] | (113) | (216) |
Funding valuation adjustments | (49) | (106) | |
Debit valuation adjustments | 2 | 5 | |
Other valuation adjustments | (715) | (713) | |
of which: liquidity | (465) | (439) | |
of which: model uncertainty | SFr (250) | SFr (274) | |
[1] | Amounts do not include reserves against defaulted counterparties. |
FVM - Valuation adjustments 165
FVM - Valuation adjustments (Detail 3) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Recognized on the balance sheet as of the end of the year: | |||
Unrealized life-to-date gain / (loss) | SFr (195) | SFr 141 | SFr 287 |
Included in Other comprehensive income | |||
Recognized during the year: | |||
Realized gain / (loss) | 21 | 18 | |
Unrealized gain / (loss) | (333) | (138) | |
Total gain / (loss), before tax | (312) | (120) | |
Included in Net trading income | |||
Recognized during the year: | |||
Unrealized gain / (loss) | 553 | ||
UBS AG | |||
Recognized on the balance sheet as of the end of the year: | |||
Unrealized life-to-date gain / (loss) | (195) | 141 | 287 |
UBS AG | Included in Other comprehensive income | |||
Recognized during the year: | |||
Realized gain / (loss) | 21 | 18 | |
Unrealized gain / (loss) | (333) | (138) | |
Total gain / (loss), before tax | SFr (312) | SFr (120) | |
UBS AG | Included in Net trading income | |||
Recognized during the year: | |||
Unrealized gain / (loss) | SFr 553 |
FVM - Fair value hierarchy - As
FVM - Fair value hierarchy - Assets (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | SFr 316,629 | SFr 341,298 | ||
Financial assets held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 2,000 | [2] | 1,700 | SFr 2,100 | |
Financial assets held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 600 | [2] | 600 | 700 | |
Financial assets held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 500 | [2] | 700 | 800 | |
Financial assets held for trading | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 900 | [2] | 400 | 600 | |
Positive replacement values | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 1,500 | [2] | 2,500 | 2,900 | |
Positive replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 500 | [2] | 1,300 | 1,300 | |
Positive replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 700 | [2] | 700 | 1,000 | |
Positive replacement values | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 300 | [2] | 500 | 600 | |
Financial assets designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 1,400 | [2] | 2,100 | 3,300 | |
Financial assets designated at fair value | Loans (including structured loans) | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 800 | [2] | 1,200 | 1,700 | |
Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 200 | [2] | 600 | 1,500 | |
Financial assets designated at fair value | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 500 | [2] | 200 | 100 | |
Financial assets available for sale | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 500 | [2] | 500 | 700 | |
Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Other non-financial assets | [1] | 4,563 | 4,583 | ||
Measured at fair value on a recurring basis | Financial assets held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 126,144 | 92,025 | ||
Measured at fair value on a recurring basis | Financial assets held for trading | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 12,854 | 11,820 | ||
Measured at fair value on a recurring basis | Financial assets held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 8,563 | 7,287 | ||
Measured at fair value on a recurring basis | Financial assets held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 3,847 | 2,037 | ||
Measured at fair value on a recurring basis | Financial assets held for trading | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 9,632 | 9,698 | ||
Measured at fair value on a recurring basis | Financial assets held for trading | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 368 | 685 | ||
Measured at fair value on a recurring basis | Financial assets held for trading | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 79,565 | 51,375 | ||
Measured at fair value on a recurring basis | Financial assets held for trading | Financial assets for unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 11,316 | 9,123 | ||
Measured at fair value on a recurring basis | Positive replacement values | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 118,227 | 158,411 | ||
Measured at fair value on a recurring basis | Positive replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 44,049 | 57,988 | ||
Measured at fair value on a recurring basis | Positive replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 2,816 | 3,875 | ||
Measured at fair value on a recurring basis | Positive replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 47,143 | 76,092 | ||
Measured at fair value on a recurring basis | Positive replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 22,232 | 18,003 | ||
Measured at fair value on a recurring basis | Positive replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,727 | 2,277 | ||
Measured at fair value on a recurring basis | Financial assets designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 58,933 | 65,353 | ||
Measured at fair value on a recurring basis | Financial assets designated at fair value | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 25,961 | 43,799 | ||
Measured at fair value on a recurring basis | Financial assets designated at fair value | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 21,467 | 16,875 | ||
Measured at fair value on a recurring basis | Financial assets designated at fair value | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 10,143 | 3,238 | ||
Measured at fair value on a recurring basis | Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 291 | 684 | ||
Measured at fair value on a recurring basis | Financial assets designated at fair value | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,071 | 756 | ||
Measured at fair value on a recurring basis | Financial assets available for sale | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 8,665 | 15,676 | ||
Measured at fair value on a recurring basis | Financial assets available for sale | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 2,866 | 5,894 | ||
Measured at fair value on a recurring basis | Financial assets available for sale | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,189 | 5,596 | ||
Measured at fair value on a recurring basis | Financial assets available for sale | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 185 | 177 | ||
Measured at fair value on a recurring basis | Financial assets available for sale | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 3,880 | 3,381 | ||
Measured at fair value on a recurring basis | Financial assets available for sale | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 546 | 611 | ||
Measured at fair value on a non-recurring basis | Other assets | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[4] | 95 | 5,248 | ||
Level 1 | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 140,015 | 132,062 | ||
Level 1 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Other non-financial assets | [1] | 4,563 | 4,583 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 108,962 | 76,044 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 11,935 | 10,500 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 37 | 58 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 7,223 | 6,114 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 79,274 | 50,913 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Financial assets for unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 10,492 | 8,459 | ||
Level 1 | Measured at fair value on a recurring basis | Positive replacement values | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 458 | 434 | ||
Level 1 | Measured at fair value on a recurring basis | Positive replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1 | 8 | ||
Level 1 | Measured at fair value on a recurring basis | Positive replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Positive replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 207 | 263 | ||
Level 1 | Measured at fair value on a recurring basis | Positive replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 16 | 1 | ||
Level 1 | Measured at fair value on a recurring basis | Positive replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 23,032 | 39,641 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 22,062 | 39,439 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 765 | 15 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 205 | 187 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 3,000 | 6,299 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 2,733 | 5,444 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 121 | 646 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 146 | 204 | ||
Level 1 | Measured at fair value on a non-recurring basis | Other assets | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[4] | 0 | 5,060 | ||
Level 2 | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 171,125 | 202,377 | ||
Level 2 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Other non-financial assets | [1] | 0 | 0 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 15,211 | 14,292 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 918 | 1,319 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 7,974 | 6,638 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 3,346 | 1,356 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 1,839 | 3,521 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 194 | 470 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 186 | 397 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Financial assets for unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 755 | 591 | ||
Level 2 | Measured at fair value on a recurring basis | Positive replacement values | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 116,221 | 155,428 | ||
Level 2 | Measured at fair value on a recurring basis | Positive replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 43,913 | 57,703 | ||
Level 2 | Measured at fair value on a recurring basis | Positive replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 2,266 | 2,562 | ||
Level 2 | Measured at fair value on a recurring basis | Positive replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 46,748 | 75,607 | ||
Level 2 | Measured at fair value on a recurring basis | Positive replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 21,541 | 17,274 | ||
Level 2 | Measured at fair value on a recurring basis | Positive replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,727 | 2,269 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 34,481 | 23,632 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 3,900 | 4,361 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 20,702 | 16,860 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 9,385 | 2,043 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 118 | 40 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 377 | 329 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 5,157 | 8,891 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 133 | 450 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,060 | 4,939 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 70 | 51 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 3,880 | 3,381 | ||
Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 16 | 71 | ||
Level 2 | Measured at fair value on a non-recurring basis | Other assets | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[4] | 54 | 131 | ||
Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 5,489 | 6,860 | ||
Level 3 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Other non-financial assets | [1] | 0 | 0 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 1,972 | 1,689 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 0 | 0 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 552 | 591 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 501 | 681 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 571 | 63 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 174 | 215 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 105 | 65 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Financial assets for unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 69 | 74 | ||
Level 3 | Measured at fair value on a recurring basis | Positive replacement values | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,549 | 2,549 | ||
Level 3 | Measured at fair value on a recurring basis | Positive replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 135 | 278 | ||
Level 3 | Measured at fair value on a recurring basis | Positive replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 550 | 1,313 | ||
Level 3 | Measured at fair value on a recurring basis | Positive replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 189 | 222 | ||
Level 3 | Measured at fair value on a recurring basis | Positive replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 675 | 729 | ||
Level 3 | Measured at fair value on a recurring basis | Positive replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 8 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,419 | 2,079 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 758 | 1,195 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 173 | 644 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 489 | 240 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 507 | 486 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 9 | 12 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 115 | 126 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 384 | 336 | ||
Level 3 | Measured at fair value on a non-recurring basis | Other assets | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[4] | 42 | 56 | ||
UBS AG | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 316,353 | 341,056 | ||
UBS AG | Financial assets held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 2,000 | [2] | 1,700 | 2,100 | |
UBS AG | Financial assets held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 600 | [2] | 600 | 700 | |
UBS AG | Financial assets held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 500 | [2] | 700 | 800 | |
UBS AG | Financial assets held for trading | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 900 | [2] | 400 | 600 | |
UBS AG | Positive replacement values | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 1,500 | [2] | 2,500 | 2,900 | |
UBS AG | Positive replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 500 | [2] | 1,300 | 1,300 | |
UBS AG | Positive replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 700 | [2] | 700 | 1,000 | |
UBS AG | Positive replacement values | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 300 | [2] | 500 | 600 | |
UBS AG | Financial assets designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 1,400 | [2] | 2,100 | 3,300 | |
UBS AG | Financial assets designated at fair value | Loans (including structured loans) | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 800 | [2] | 1,200 | 1,700 | |
UBS AG | Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 200 | [2] | 600 | 1,500 | |
UBS AG | Financial assets designated at fair value | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 500 | [2] | 200 | 100 | |
UBS AG | Financial assets available for sale | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | 500 | [2] | 500 | SFr 700 | |
UBS AG | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Other non-financial assets | [1] | 4,563 | 4,583 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 126,244 | 92,112 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets held for trading | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 12,854 | 11,820 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 8,662 | 7,371 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 3,847 | 2,037 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets held for trading | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 9,632 | 9,698 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets held for trading | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 368 | 685 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets held for trading | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 79,566 | 51,378 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets held for trading | Financial assets for unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 11,316 | 9,123 | ||
UBS AG | Measured at fair value on a recurring basis | Positive replacement values | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 118,229 | 2,549 | ||
UBS AG | Measured at fair value on a recurring basis | Positive replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 44,049 | 57,988 | ||
UBS AG | Measured at fair value on a recurring basis | Positive replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 2,816 | 3,875 | ||
UBS AG | Measured at fair value on a recurring basis | Positive replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 47,145 | 76,092 | ||
UBS AG | Measured at fair value on a recurring basis | Positive replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 22,232 | 18,003 | ||
UBS AG | Measured at fair value on a recurring basis | Positive replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,727 | 2,277 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 58,556 | 65,024 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets designated at fair value | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 25,961 | 43,799 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets designated at fair value | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 21,467 | 16,875 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets designated at fair value | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 10,143 | 3,238 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 291 | 684 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets designated at fair value | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 694 | 427 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets available for sale | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 8,665 | 15,676 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets available for sale | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 2,866 | 5,894 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets available for sale | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,189 | 5,596 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets available for sale | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 185 | 177 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets available for sale | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 3,880 | 3,381 | ||
UBS AG | Measured at fair value on a recurring basis | Financial assets available for sale | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 546 | 611 | ||
UBS AG | Measured at fair value on a non-recurring basis | Other assets | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[4] | 95 | 5,248 | ||
UBS AG | Level 1 | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 140,017 | 132,064 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Other non-financial assets | [1] | 4,563 | 4,583 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 108,963 | 76,046 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 11,935 | 10,500 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 37 | 58 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 7,223 | 6,114 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 79,276 | 50,916 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets held for trading | Financial assets for unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 10,492 | 8,459 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Positive replacement values | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 458 | 434 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Positive replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1 | 8 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Positive replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Positive replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 207 | 263 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Positive replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 16 | 1 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Positive replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 23,032 | 39,641 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 22,062 | 39,439 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 765 | 15 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 205 | 187 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 3,000 | 6,299 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 2,733 | 5,444 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 121 | 646 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial assets available for sale | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 146 | 204 | ||
UBS AG | Level 1 | Measured at fair value on a non-recurring basis | Other assets | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[4] | 0 | 5,060 | ||
UBS AG | Level 2 | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 170,848 | 202,132 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Other non-financial assets | [1] | 0 | 0 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 15,309 | 14,377 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 918 | 1,319 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 8,072 | 6,722 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 3,346 | 1,356 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 1,839 | 3,521 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 194 | 470 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 186 | 397 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets held for trading | Financial assets for unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 755 | 591 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Positive replacement values | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 116,222 | 155,428 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Positive replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 43,913 | 57,703 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Positive replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 2,266 | 2,562 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Positive replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 46,749 | 75,607 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Positive replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 21,541 | 17,274 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Positive replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,727 | 2,269 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 34,104 | 23,304 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 3,900 | 4,361 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 20,702 | 16,860 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 9,385 | 2,043 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 118 | 40 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 5,157 | 8,891 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 133 | 450 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,060 | 4,939 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 70 | 51 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 3,880 | 3,381 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial assets available for sale | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 16 | 71 | ||
UBS AG | Level 2 | Measured at fair value on a non-recurring basis | Other assets | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[4] | 54 | 131 | ||
UBS AG | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 5,489 | 6,860 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Non-financial assets - Precious metals and other physical commodities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Other non-financial assets | [1] | 0 | 0 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 1,972 | 1,689 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 0 | 0 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 552 | 591 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 501 | 681 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 571 | 63 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 174 | 215 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 105 | 65 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets held for trading | Financial assets for unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[3] | 69 | 74 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Positive replacement values | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,549 | 2,549 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Positive replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 135 | 278 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Positive replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 550 | 1,313 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Positive replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 189 | 222 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Positive replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 675 | 729 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Positive replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 8 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 1,419 | 2,079 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 758 | 1,195 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 173 | 644 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets designated at fair value | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 489 | 240 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 507 | 486 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 9 | 12 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 115 | 126 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | Asset-backed securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial assets available for sale | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1] | 384 | 336 | ||
UBS AG | Level 3 | Measured at fair value on a non-recurring basis | Other assets | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Financial assets, at fair value | [1],[4] | SFr 42 | SFr 56 | ||
[1] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented | ||||
[2] | Total Level 3 assets as of 31 December 2017 were CHF 5.5 billion (31 December 2016: CHF 6.9 billion). Total Level 3 liabilities as of 31 December 2017 were CHF 15.7 billion (31 December 2016: CHF 15.1 billion). | ||||
[3] | Financial assets held for trading do not include precious metals and other physical commodities. | ||||
[4] | Other assets and other liabilities primarily consist of assets held for sale as well as assets and liabilities of a disposal group held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. Refer to Note 30 for more information. |
FVM - Fair value hierarchy - Li
FVM - Fair value hierarchy - Liabilities (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | SFr 212,323 | SFr 246,150 | ||
Negative replacement values | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 2,800 | [2] | 4,000 | SFr 3,300 | |
Negative replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 600 | [2] | 1,500 | 1,300 | |
Negative replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 1,900 | [2] | 1,900 | 1,400 | |
Financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 12,800 | [2] | 11,000 | 10,700 | |
Financial liabilities designated at fair value | Issued debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 10,900 | [2] | 9,700 | 9,300 | |
Financial liabilities designated at fair value | Over-the-counter debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 1,900 | [2] | 1,100 | 800 | |
Financial liabilities designated at fair value | Structured repurchase agreements | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 0 | [2] | 300 | 600 | |
Measured at fair value on a recurring basis | Other liabilities - amounts due under unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 11,523 | 9,286 | ||
Measured at fair value on a recurring basis | Trading portfolio liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 30,463 | 22,824 | ||
Measured at fair value on a recurring basis | Trading portfolio liabilities | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 5,409 | 6,221 | ||
Measured at fair value on a recurring basis | Trading portfolio liabilities | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 3,538 | 2,976 | ||
Measured at fair value on a recurring basis | Trading portfolio liabilities | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 820 | 595 | ||
Measured at fair value on a recurring basis | Trading portfolio liabilities | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 20,695 | 13,026 | ||
Measured at fair value on a recurring basis | Negative replacement values | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 116,133 | 153,810 | ||
Measured at fair value on a recurring basis | Negative replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 38,387 | 52,476 | ||
Measured at fair value on a recurring basis | Negative replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 3,797 | 4,807 | ||
Measured at fair value on a recurring basis | Negative replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 45,485 | 72,089 | ||
Measured at fair value on a recurring basis | Negative replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 26,741 | 22,109 | ||
Measured at fair value on a recurring basis | Negative replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 1,562 | 2,041 | ||
Measured at fair value on a recurring basis | Financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 54,202 | 55,017 | ||
Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Issued debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 49,502 | 49,930 | ||
Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Over-the-counter debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 4,315 | 4,663 | ||
Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Structured repurchase agreements | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 376 | 395 | ||
Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Loan commitments and guarantees | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 9 | 29 | ||
Measured at fair value on a non-recurring basis | Other liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1],[3] | 1 | 5,213 | ||
Level 1 | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 26,435 | 19,347 | ||
Level 1 | Measured at fair value on a recurring basis | Other liabilities - amounts due under unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Trading portfolio liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 26,037 | 18,807 | ||
Level 1 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 5,153 | 5,573 | ||
Level 1 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 50 | 12 | ||
Level 1 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 541 | 484 | ||
Level 1 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 20,293 | 12,738 | ||
Level 1 | Measured at fair value on a recurring basis | Negative replacement values | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 398 | 539 | ||
Level 1 | Measured at fair value on a recurring basis | Negative replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 5 | 12 | ||
Level 1 | Measured at fair value on a recurring basis | Negative replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Negative replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 213 | 274 | ||
Level 1 | Measured at fair value on a recurring basis | Negative replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 42 | 1 | ||
Level 1 | Measured at fair value on a recurring basis | Negative replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 2 | ||
Level 1 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Issued debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Over-the-counter debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 2 | ||
Level 1 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Structured repurchase agreements | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Loan commitments and guarantees | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
Level 1 | Measured at fair value on a non-recurring basis | Other liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1],[3] | 0 | 0 | ||
Level 2 | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 170,138 | 211,660 | ||
Level 2 | Measured at fair value on a recurring basis | Other liabilities - amounts due under unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 11,523 | 9,286 | ||
Level 2 | Measured at fair value on a recurring basis | Trading portfolio liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 4,309 | 3,898 | ||
Level 2 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 256 | 648 | ||
Level 2 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 3,453 | 2,927 | ||
Level 2 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 263 | 91 | ||
Level 2 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 336 | 227 | ||
Level 2 | Measured at fair value on a recurring basis | Negative replacement values | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 112,928 | 149,255 | ||
Level 2 | Measured at fair value on a recurring basis | Negative replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 38,196 | 51,990 | ||
Level 2 | Measured at fair value on a recurring basis | Negative replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 3,196 | 3,269 | ||
Level 2 | Measured at fair value on a recurring basis | Negative replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 45,150 | 71,668 | ||
Level 2 | Measured at fair value on a recurring basis | Negative replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 24,803 | 20,254 | ||
Level 2 | Measured at fair value on a recurring basis | Negative replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 1,561 | 2,040 | ||
Level 2 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 41,376 | 44,007 | ||
Level 2 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Issued debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 38,617 | 40,242 | ||
Level 2 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Over-the-counter debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 2,385 | 3,611 | ||
Level 2 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Structured repurchase agreements | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 372 | 130 | ||
Level 2 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Loan commitments and guarantees | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 2 | 25 | ||
Level 2 | Measured at fair value on a non-recurring basis | Other liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1],[3] | 1 | 5,213 | ||
Level 3 | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 15,750 | 15,143 | ||
Level 3 | Measured at fair value on a recurring basis | Other liabilities - amounts due under unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
Level 3 | Measured at fair value on a recurring basis | Trading portfolio liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 117 | 119 | ||
Level 3 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
Level 3 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 35 | 37 | ||
Level 3 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 16 | 20 | ||
Level 3 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 66 | 62 | ||
Level 3 | Measured at fair value on a recurring basis | Negative replacement values | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 2,807 | 4,016 | ||
Level 3 | Measured at fair value on a recurring basis | Negative replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 186 | 475 | ||
Level 3 | Measured at fair value on a recurring basis | Negative replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 601 | 1,538 | ||
Level 3 | Measured at fair value on a recurring basis | Negative replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 122 | 148 | ||
Level 3 | Measured at fair value on a recurring basis | Negative replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 1,896 | 1,854 | ||
Level 3 | Measured at fair value on a recurring basis | Negative replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 1 | 1 | ||
Level 3 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 12,826 | 11,008 | ||
Level 3 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Issued debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 10,885 | 9,688 | ||
Level 3 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Over-the-counter debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 1,930 | 1,050 | ||
Level 3 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Structured repurchase agreements | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 4 | 266 | ||
Level 3 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Loan commitments and guarantees | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 7 | 5 | ||
Level 3 | Measured at fair value on a non-recurring basis | Other liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1],[3] | 0 | 0 | ||
UBS AG | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 212,324 | 246,152 | ||
UBS AG | Negative replacement values | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 2,800 | [2] | 4,000 | 3,300 | |
UBS AG | Negative replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 600 | [2] | 1,500 | 1,300 | |
UBS AG | Negative replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 1,900 | [2] | 1,900 | 1,400 | |
UBS AG | Financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 12,800 | [2] | 11,000 | 10,700 | |
UBS AG | Financial liabilities designated at fair value | Issued debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 10,900 | [2] | 9,700 | 9,300 | |
UBS AG | Financial liabilities designated at fair value | Over-the-counter debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 1,900 | [2] | 1,100 | 800 | |
UBS AG | Financial liabilities designated at fair value | Structured repurchase agreements | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | 0 | [2] | 300 | SFr 600 | |
UBS AG | Measured at fair value on a recurring basis | Other liabilities - amounts due under unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 11,523 | 9,286 | ||
UBS AG | Measured at fair value on a recurring basis | Trading portfolio liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 30,463 | 22,825 | ||
UBS AG | Measured at fair value on a recurring basis | Trading portfolio liabilities | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 5,409 | 6,221 | ||
UBS AG | Measured at fair value on a recurring basis | Trading portfolio liabilities | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 3,538 | 2,976 | ||
UBS AG | Measured at fair value on a recurring basis | Trading portfolio liabilities | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 820 | 595 | ||
UBS AG | Measured at fair value on a recurring basis | Trading portfolio liabilities | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 20,695 | 13,028 | ||
UBS AG | Measured at fair value on a recurring basis | Negative replacement values | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 116,134 | 153,810 | ||
UBS AG | Measured at fair value on a recurring basis | Negative replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 38,387 | 52,476 | ||
UBS AG | Measured at fair value on a recurring basis | Negative replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 3,797 | 4,807 | ||
UBS AG | Measured at fair value on a recurring basis | Negative replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 45,486 | 72,089 | ||
UBS AG | Measured at fair value on a recurring basis | Negative replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 26,741 | 22,109 | ||
UBS AG | Measured at fair value on a recurring basis | Negative replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 1,562 | 2,041 | ||
UBS AG | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 54,202 | 55,017 | ||
UBS AG | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Issued debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 49,502 | 49,930 | ||
UBS AG | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Over-the-counter debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 4,315 | 4,663 | ||
UBS AG | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Structured repurchase agreements | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 376 | 395 | ||
UBS AG | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Loan commitments and guarantees | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 9 | 29 | ||
UBS AG | Measured at fair value on a non-recurring basis | Other liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1],[3] | 1 | 5,213 | ||
UBS AG | Level 1 | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 26,435 | 19,349 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Other liabilities - amounts due under unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Trading portfolio liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 26,037 | 18,808 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 5,153 | 5,573 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 50 | 12 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 541 | 484 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 20,293 | 12,740 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Negative replacement values | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 398 | 539 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Negative replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 5 | 12 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Negative replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Negative replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 213 | 274 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Negative replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 42 | 1 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Negative replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 2 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Issued debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Over-the-counter debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 2 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Structured repurchase agreements | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Loan commitments and guarantees | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 1 | Measured at fair value on a non-recurring basis | Other liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1],[3] | 0 | 0 | ||
UBS AG | Level 2 | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 170,139 | 211,660 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Other liabilities - amounts due under unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 11,523 | 9,286 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Trading portfolio liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 4,309 | 3,898 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 256 | 648 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 3,453 | 2,927 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 263 | 91 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 336 | 227 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Negative replacement values | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 112,929 | 149,255 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Negative replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 38,196 | 51,990 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Negative replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 3,196 | 3,269 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Negative replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 45,151 | 71,668 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Negative replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 24,803 | 20,254 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Negative replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 1,561 | 2,040 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 41,376 | 44,007 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Issued debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 38,617 | 40,242 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Over-the-counter debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 2,385 | 3,611 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Structured repurchase agreements | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 372 | 130 | ||
UBS AG | Level 2 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Loan commitments and guarantees | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 2 | 25 | ||
UBS AG | Level 2 | Measured at fair value on a non-recurring basis | Other liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1],[3] | 1 | 5,213 | ||
UBS AG | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 15,750 | 15,143 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Other liabilities - amounts due under unit-linked investment contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Trading portfolio liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 117 | 119 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Government bills / bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 0 | 0 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 35 | 37 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 16 | 20 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Trading portfolio liabilities | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 66 | 62 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Negative replacement values | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 2,807 | 4,016 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Negative replacement values | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 186 | 475 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Negative replacement values | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 601 | 1,538 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Negative replacement values | Foreign exchange contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 122 | 148 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Negative replacement values | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 1,896 | 1,854 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Negative replacement values | Commodity contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 1 | 1 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 12,826 | 11,008 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Issued debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 10,885 | 9,688 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Over-the-counter debt instruments | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 1,930 | 1,050 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Structured repurchase agreements | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 4 | 266 | ||
UBS AG | Level 3 | Measured at fair value on a recurring basis | Financial liabilities designated at fair value | Loan commitments and guarantees | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1] | 7 | 5 | ||
UBS AG | Level 3 | Measured at fair value on a non-recurring basis | Other liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Financial liabilities, at fair value | [1],[3] | SFr 0 | SFr 0 | ||
[1] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented | ||||
[2] | Total Level 3 assets as of 31 December 2017 were CHF 5.5 billion (31 December 2016: CHF 6.9 billion). Total Level 3 liabilities as of 31 December 2017 were CHF 15.7 billion (31 December 2016: CHF 15.1 billion). | ||||
[3] | Other assets and other liabilities primarily consist of assets held for sale as well as assets and liabilities of a disposal group held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. Refer to Note 30 for more information. |
FVM - Transfers between Level 1
FVM - Transfers between Level 1 and Level 2 (Narrative) (Detail) SFr in Billions | 12 Months Ended |
Dec. 31, 2017CHF (SFr) | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Out Of Level 2 Into Level 1 Of Fair Value Hierarchy Assets | SFr 0.8 |
Description Of Reasons For Transfers Out Of Level 2 Into Level 1 Of Fair Value Hierarchy Assets | Assets totaling approximately CHF 0.8 billion, which were mainly comprised of financial assets designated at fair value, largely corporate and municipal bonds, and financial assets held for trading, predominantly investment fund units as well as corporate and municipal bonds, were transferred from Level 2 to Level 1 during 2017, generally due to increased levels of trading activity observed within the market. |
Transfers Out Of Level 1 Into Level 2 Of Fair Value Hierarchy Assets | SFr 0.3 |
Description Of Reasons For Transfers Out Of Level 1 Into Level 2 Of Fair Value Hierarchy Assets | Assets totaling approximately CHF 0.3 billion, which were mainly comprised of financial assets available for sale, largely government bonds, and financial assets held for trading, predominantly investment fund units and equity instruments, were transferred from Level 1 to Level 2 during 2017, generally due to diminished levels of trading activity observed within the market. |
UBS AG | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Out Of Level 2 Into Level 1 Of Fair Value Hierarchy Assets | SFr 0.8 |
Description Of Reasons For Transfers Out Of Level 2 Into Level 1 Of Fair Value Hierarchy Assets | Assets totaling approximately CHF 0.8 billion, which were mainly comprised of financial assets designated at fair value, largely corporate and municipal bonds, and financial assets held for trading, predominantly investment fund units as well as corporate and municipal bonds, were transferred from Level 2 to Level 1 during 2017, generally due to increased levels of trading activity observed within the market. |
Transfers Out Of Level 1 Into Level 2 Of Fair Value Hierarchy Assets | SFr 0.3 |
Description Of Reasons For Transfers Out Of Level 1 Into Level 2 Of Fair Value Hierarchy Assets | Assets totaling approximately CHF 0.3 billion, which were mainly comprised of financial assets available for sale, largely government bonds, and financial assets held for trading, predominantly investment fund units and equity instruments, were transferred from Level 1 to Level 2 during 2017, generally due to diminished levels of trading activity observed within the market. |
FVM - Movements of level 3 inst
FVM - Movements of level 3 instruments - Assets (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | [1] | SFr 341,298 | ||
Transfers into Level 3 | 1,400 | |||
Transfers out of Level 3 | (1,100) | |||
Balance as of 31 December | [1] | 316,629 | SFr 341,298 | |
Level 3 assets | 5,500 | 6,900 | ||
Financial assets held for trading | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 1,700 | 2,100 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (100) | 100 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 700 | 900 | ||
Sales | (3,800) | (6,800) | ||
Issuances | 2,700 | 4,100 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 900 | 1,700 | ||
Transfers out of Level 3 | (200) | (300) | ||
Foreign currency translation | 0 | (100) | ||
Balance as of 31 December | 2,000 | [2] | 1,700 | |
Financial assets held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 600 | 700 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 100 | 200 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 100 | 100 | ||
Purchases | 400 | 600 | ||
Sales | (700) | (800) | ||
Issuances | 0 | 0 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 100 | 100 | ||
Transfers out of Level 3 | 0 | (100) | ||
Foreign currency translation | 0 | (100) | ||
Balance as of 31 December | 600 | [2] | 600 | |
Financial assets held for trading | Loans | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 700 | 800 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | (100) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | (100) | ||
Purchases | 100 | 100 | ||
Sales | (2,800) | (5,200) | ||
Issuances | 2,700 | 4,100 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 0 | 1,100 | ||
Transfers out of Level 3 | (100) | (200) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 500 | [2] | 700 | |
Financial assets held for trading | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 400 | 600 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (100) | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 200 | 200 | ||
Sales | (300) | (800) | ||
Issuances | 0 | 0 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 800 | 500 | ||
Transfers out of Level 3 | 0 | 0 | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 900 | [2] | 400 | |
Financial assets designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 2,100 | 3,300 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 200 | (400) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 200 | (100) | ||
Purchases | 0 | 100 | ||
Sales | 0 | 0 | ||
Issuances | 400 | 700 | ||
Settlements | (1,200) | (1,900) | ||
Transfers into Level 3 | 100 | 500 | ||
Transfers out of Level 3 | (100) | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 1,400 | [2] | 2,100 | |
Financial assets designated at fair value | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 200 | 100 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (100) | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | 0 | ||
Purchases | 0 | 100 | ||
Sales | 0 | 0 | ||
Issuances | 200 | 0 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 100 | 0 | ||
Transfers out of Level 3 | 0 | 0 | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 500 | [2] | 200 | |
Financial assets designated at fair value | Loans (including structured loans) | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 1,200 | 1,700 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 200 | (400) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 200 | (100) | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 100 | 600 | ||
Settlements | (600) | (1,000) | ||
Transfers into Level 3 | 0 | 400 | ||
Transfers out of Level 3 | (100) | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 800 | [2] | 1,200 | |
Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 600 | 1,500 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 100 | 0 | ||
Settlements | (600) | (900) | ||
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 | 0 | 0 | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 200 | [2] | 600 | |
Financial assets available for sale | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 500 | 700 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 0 | 100 | ||
Sales | 0 | (100) | ||
Issuances | 0 | 0 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 100 | 0 | ||
Transfers out of Level 3 | 0 | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 500 | [2] | 500 | |
Positive replacement values | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 2,500 | 2,900 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (300) | (400) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (400) | (500) | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 900 | 1,000 | ||
Settlements | (1,200) | (1,900) | ||
Transfers into Level 3 | 400 | 1,300 | ||
Transfers out of Level 3 | (800) | (400) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 1,500 | [2] | 2,500 | |
Positive replacement values | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 500 | 600 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | (100) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | (300) | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 100 | ||
Settlements | (200) | (600) | ||
Transfers into Level 3 | 100 | 700 | ||
Transfers out of Level 3 | (100) | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 300 | [2] | 500 | |
Positive replacement values | Credit derivative contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 1,300 | 1,300 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (200) | (200) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | (100) | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 600 | ||
Settlements | (300) | (700) | ||
Transfers into Level 3 | 0 | 400 | ||
Transfers out of Level 3 | (400) | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 500 | [2] | 1,300 | |
Positive replacement values | Equity / index contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 700 | 1,000 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (100) | (100) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | 0 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 900 | 400 | ||
Settlements | (700) | (600) | ||
Transfers into Level 3 | 300 | 200 | ||
Transfers out of Level 3 | (400) | (200) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 700 | [2] | 700 | |
UBS AG | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | [1] | 341,056 | ||
Transfers into Level 3 | 1,400 | |||
Transfers out of Level 3 | (1,100) | |||
Balance as of 31 December | [1] | 316,353 | 341,056 | |
Level 3 assets | 5,500 | 6,900 | ||
UBS AG | Financial assets held for trading | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 1,700 | 2,100 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (100) | 100 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 700 | 900 | ||
Sales | (3,800) | (6,800) | ||
Issuances | 2,700 | 4,100 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 900 | 1,700 | ||
Transfers out of Level 3 | (200) | (300) | ||
Foreign currency translation | 0 | (100) | ||
Balance as of 31 December | 2,000 | [2] | 1,700 | |
UBS AG | Financial assets held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 600 | 700 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 100 | 200 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 100 | 100 | ||
Purchases | 400 | 600 | ||
Sales | (700) | (800) | ||
Issuances | 0 | 0 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 100 | 100 | ||
Transfers out of Level 3 | 0 | (100) | ||
Foreign currency translation | 0 | (100) | ||
Balance as of 31 December | 600 | [2] | 600 | |
UBS AG | Financial assets held for trading | Loans | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 700 | 800 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | (100) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | (100) | ||
Purchases | 100 | 100 | ||
Sales | (2,800) | (5,200) | ||
Issuances | 2,700 | 4,100 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 0 | 1,100 | ||
Transfers out of Level 3 | (100) | (200) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 500 | [2] | 700 | |
UBS AG | Financial assets held for trading | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 400 | 600 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (100) | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 200 | 200 | ||
Sales | (300) | (800) | ||
Issuances | 0 | 0 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 800 | 500 | ||
Transfers out of Level 3 | 0 | 0 | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 900 | [2] | 400 | |
UBS AG | Financial assets designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 2,100 | 3,300 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 200 | (400) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 200 | (100) | ||
Purchases | 0 | 100 | ||
Sales | 0 | 0 | ||
Issuances | 400 | 700 | ||
Settlements | (1,200) | (1,900) | ||
Transfers into Level 3 | 100 | 500 | ||
Transfers out of Level 3 | (100) | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 1,400 | [2] | 2,100 | |
UBS AG | Financial assets designated at fair value | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 200 | 100 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (100) | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | 0 | ||
Purchases | 0 | 100 | ||
Sales | 0 | 0 | ||
Issuances | 200 | 0 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 100 | 0 | ||
Transfers out of Level 3 | 0 | 0 | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 500 | [2] | 200 | |
UBS AG | Financial assets designated at fair value | Loans (including structured loans) | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 1,200 | 1,700 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 200 | (400) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 200 | (100) | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 100 | 600 | ||
Settlements | (600) | (1,000) | ||
Transfers into Level 3 | 0 | 400 | ||
Transfers out of Level 3 | (100) | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 800 | [2] | 1,200 | |
UBS AG | Financial assets designated at fair value | Structured reverse repurchase and securities borrowing agreements | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 600 | 1,500 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 100 | 0 | ||
Settlements | (600) | (900) | ||
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 | 0 | 0 | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 200 | [2] | 600 | |
UBS AG | Financial assets available for sale | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 500 | 700 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 0 | 100 | ||
Sales | 0 | (100) | ||
Issuances | 0 | 0 | ||
Settlements | 0 | 0 | ||
Transfers into Level 3 | 100 | 0 | ||
Transfers out of Level 3 | 0 | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 500 | [2] | 500 | |
UBS AG | Positive replacement values | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 2,500 | 2,900 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (300) | (400) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (400) | (500) | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 900 | 1,000 | ||
Settlements | (1,200) | (1,900) | ||
Transfers into Level 3 | 400 | 1,300 | ||
Transfers out of Level 3 | (800) | (400) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 1,500 | [2] | 2,500 | |
UBS AG | Positive replacement values | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 500 | 600 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | (100) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | (300) | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 100 | ||
Settlements | (200) | (600) | ||
Transfers into Level 3 | 100 | 700 | ||
Transfers out of Level 3 | (100) | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 300 | [2] | 500 | |
UBS AG | Positive replacement values | Credit derivative contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 1,300 | 1,300 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (200) | (200) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | (100) | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 600 | ||
Settlements | (300) | (700) | ||
Transfers into Level 3 | 0 | 400 | ||
Transfers out of Level 3 | (400) | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 500 | [2] | 1,300 | |
UBS AG | Positive replacement values | Equity / index contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Balance as of 1 January | 700 | 1,000 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | (100) | (100) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (100) | 0 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 900 | 400 | ||
Settlements | (700) | (600) | ||
Transfers into Level 3 | 300 | 200 | ||
Transfers out of Level 3 | (400) | (200) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | SFr 700 | [2] | SFr 700 | |
[1] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented | |||
[2] | Total Level 3 assets as of 31 December 2017 were CHF 5.5 billion (31 December 2016: CHF 6.9 billion). Total Level 3 liabilities as of 31 December 2017 were CHF 15.7 billion (31 December 2016: CHF 15.1 billion). |
FVM - Movements of level 3 i170
FVM - Movements of level 3 instruments - Liabilities (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | |||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | [1] | SFr 246,150 | ||
Transfers into Level 3 | 1,800 | |||
Transfers out of Level 3 | (3,200) | |||
Balance as of 31 December | [1] | 212,323 | SFr 246,150 | |
Level 3 liabilities | 15,700 | 15,100 | ||
Negative replacement values | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 4,000 | 3,300 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 200 | 600 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 100 | 500 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 700 | 1,500 | ||
Settlements | (1,400) | (2,100) | ||
Transfers into Level 3 | 500 | 1,200 | ||
Transfers out of Level 3 | (1,300) | (600) | ||
Foreign currency translation | 100 | 0 | ||
Balance as of 31 December | 2,800 | [2] | 4,000 | |
Negative replacement values | Credit derivative contracts | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 1,500 | 1,300 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | 500 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 600 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 100 | 200 | ||
Settlements | (400) | (700) | ||
Transfers into Level 3 | 200 | 300 | ||
Transfers out of Level 3 | (800) | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 600 | [2] | 1,500 | |
Negative replacement values | Equity / index contracts | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 1,900 | 1,400 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 300 | 300 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 200 | 100 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 600 | 1,000 | ||
Settlements | (600) | (800) | ||
Transfers into Level 3 | 200 | 200 | ||
Transfers out of Level 3 | (500) | (300) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 1,900 | [2] | 1,900 | |
Negative replacement values | Other | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 600 | 600 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | (200) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (200) | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 300 | ||
Settlements | (400) | (600) | ||
Transfers into Level 3 | 100 | 700 | ||
Transfers out of Level 3 | (100) | (200) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 300 | [2] | 600 | |
Financial liabilities designated at fair value | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 11,000 | 10,700 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 1,400 | 1,000 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 900 | 600 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 6,700 | 5,000 | ||
Settlements | (5,700) | (3,500) | ||
Transfers into Level 3 | 1,300 | 900 | ||
Transfers out of Level 3 | (1,800) | (2,900) | ||
Foreign currency translation | (100) | (100) | ||
Balance as of 31 December | 12,800 | [2] | 11,000 | |
Financial liabilities designated at fair value | Issued debt instruments | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 9,700 | 9,300 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 1,400 | 900 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 900 | 600 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 5,200 | 4,100 | ||
Settlements | (4,900) | (2,500) | ||
Transfers into Level 3 | 1,200 | 800 | ||
Transfers out of Level 3 | (1,600) | (2,900) | ||
Foreign currency translation | (100) | (100) | ||
Balance as of 31 December | 10,900 | [2] | 9,700 | |
Financial liabilities designated at fair value | Over-the-counter debt instruments | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 1,100 | 800 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | 100 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 1,500 | 800 | ||
Settlements | (700) | (600) | ||
Transfers into Level 3 | 100 | 100 | ||
Transfers out of Level 3 | 0 | 0 | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 1,900 | [2] | 1,100 | |
Financial liabilities designated at fair value | Structured repurchase agreements | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 300 | 600 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 100 | ||
Settlements | (100) | (400) | ||
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 | (200) | 0 | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 0 | [2] | 300 | |
UBS AG | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | [1] | 246,152 | ||
Transfers into Level 3 | 1,800 | |||
Transfers out of Level 3 | (3,200) | |||
Balance as of 31 December | [1] | 212,324 | 246,152 | |
Level 3 liabilities | 15,700 | 15,100 | ||
UBS AG | Negative replacement values | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 4,000 | 3,300 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 200 | 600 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 100 | 500 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 700 | 1,500 | ||
Settlements | (1,400) | (2,100) | ||
Transfers into Level 3 | 500 | 1,200 | ||
Transfers out of Level 3 | (1,300) | (600) | ||
Foreign currency translation | 100 | 0 | ||
Balance as of 31 December | 2,800 | [2] | 4,000 | |
UBS AG | Negative replacement values | Credit derivative contracts | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 1,500 | 1,300 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | 500 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 600 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 100 | 200 | ||
Settlements | (400) | (700) | ||
Transfers into Level 3 | 200 | 300 | ||
Transfers out of Level 3 | (800) | (100) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 600 | [2] | 1,500 | |
UBS AG | Negative replacement values | Equity / index contracts | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 1,900 | 1,400 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 300 | 300 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 200 | 100 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 600 | 1,000 | ||
Settlements | (600) | (800) | ||
Transfers into Level 3 | 200 | 200 | ||
Transfers out of Level 3 | (500) | (300) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 1,900 | [2] | 1,900 | |
UBS AG | Negative replacement values | Other | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 600 | 600 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | (200) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | (200) | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 300 | ||
Settlements | (400) | (600) | ||
Transfers into Level 3 | 100 | 700 | ||
Transfers out of Level 3 | (100) | (200) | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 300 | [2] | 600 | |
UBS AG | Financial liabilities designated at fair value | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 11,000 | 10,700 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 1,400 | 1,000 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 900 | 600 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 6,700 | 5,000 | ||
Settlements | (5,700) | (3,500) | ||
Transfers into Level 3 | 1,300 | 900 | ||
Transfers out of Level 3 | (1,800) | (2,900) | ||
Foreign currency translation | (100) | (100) | ||
Balance as of 31 December | 12,800 | [2] | 11,000 | |
UBS AG | Financial liabilities designated at fair value | Issued debt instruments | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 9,700 | 9,300 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 1,400 | 900 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 900 | 600 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 5,200 | 4,100 | ||
Settlements | (4,900) | (2,500) | ||
Transfers into Level 3 | 1,200 | 800 | ||
Transfers out of Level 3 | (1,600) | (2,900) | ||
Foreign currency translation | (100) | (100) | ||
Balance as of 31 December | 10,900 | [2] | 9,700 | |
UBS AG | Financial liabilities designated at fair value | Over-the-counter debt instruments | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 1,100 | 800 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | 100 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 1,500 | 800 | ||
Settlements | (700) | (600) | ||
Transfers into Level 3 | 100 | 100 | ||
Transfers out of Level 3 | 0 | 0 | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | 1,900 | [2] | 1,100 | |
UBS AG | Financial liabilities designated at fair value | Structured repurchase agreements | ||||
Reconciliation Of Changes In Level 3 Instruments [Line Items] | ||||
Balance as of 1 January | 300 | 600 | ||
Total gains / losses included in comprehensive income - Net interest income, net trading income and other income | 0 | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | 0 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Issuances | 0 | 100 | ||
Settlements | (100) | (400) | ||
Transfers into Level 3 | 0 | 0 | ||
Transfers out of Level 3 | (200) | 0 | ||
Foreign currency translation | 0 | 0 | ||
Balance as of 31 December | SFr 0 | [2] | SFr 300 | |
[1] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented | |||
[2] | Total Level 3 assets as of 31 December 2017 were CHF 5.5 billion (31 December 2016: CHF 6.9 billion). Total Level 3 liabilities as of 31 December 2017 were CHF 15.7 billion (31 December 2016: CHF 15.1 billion). |
FVM - Movements of level 3 i171
FVM - Movements of level 3 instruments (Narrative) (Detail) SFr in Billions | 12 Months Ended |
Dec. 31, 2017CHF (SFr) | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Into Level 3 Of Fair Value Hierarchy Assets | SFr 1.4 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | SFr 1.1 |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Assets | Transfers into Level 3 were primarily comprised of investment fund units and equity / index contracts, due to decreased observability of the respective net asset value and equity volatility inputs. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | Transfers out of Level 3 were primarily comprised of credit derivative and equity / index contracts, reflecting increased observability of the respective credit spread and equity volatility inputs. |
Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | SFr 1.8 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | SFr 3.2 |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | Transfers into Level 3 were primarily comprised of equity-linked issued debt instruments and equity / index contracts, due to decreased observability of the respective equity volatility inputs used to determine the fair value of the options embedded in these structures. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | Transfers out of Level 3 were primarily comprised of equity-linked issued debt instruments and credit derivative contracts resulting from changes in the availability of the observable equity volatility and credit spread inputs used to determine the fair value of the options embedded in these structures. |
UBS AG | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Into Level 3 Of Fair Value Hierarchy Assets | SFr 1.4 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | SFr 1.1 |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Assets | Transfers into Level 3 were primarily comprised of investment fund units and equity / index contracts, due to decreased observability of the respective net asset value and equity volatility inputs. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | Transfers out of Level 3 were primarily comprised of credit derivative and equity / index contracts, reflecting increased observability of the respective credit spread and equity volatility inputs. |
Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | SFr 1.8 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | SFr 3.2 |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | Transfers into Level 3 were primarily comprised of equity-linked issued debt instruments and equity / index contracts, due to decreased observability of the respective equity volatility inputs used to determine the fair value of the options embedded in these structures. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | Transfers out of Level 3 were primarily comprised of equity-linked issued debt instruments and credit derivative contracts resulting from changes in the availability of the observable equity volatility and credit spread inputs used to determine the fair value of the options embedded in these structures. |
FVM - Level 3 instruments_ Valu
FVM - Level 3 instruments: Valuation techniques and inputs (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |
Disclosure of significant unobservable inputs used in fair value measurement [Text Block] | Significant unobservable inputs in Level 3 positions This section discusses the significant unobservable inputs used in the valuation of Lev el 3 instruments and assesses the potential effect that a change in each unobservable input in isolation may have on a fair value measurement, including information to facilitate an understanding of factors that give rise to the input ranges shown. Relatio nships between observable and unobservable inputs have not been included in the summary below. Bond price equivalent Where market prices are not available for a bond, fair value is measured by comparison with observable pricing data from similar instrument s. Factors considered when selecting comparable instruments include credit quality, maturity and industry of the issuer. Fair value may be measured either by a direct price comparison or by conversion of an instrument price into a yield (either as an outri ght yield or as a spread to LIBOR). Bond prices are expressed as points of the nominal, where 100 represents a fair value equal to the nominal value (i.e., par). For corporate and municipal bonds, the range represents the range of prices from reference iss uances used in determining fair value. Bonds priced at 0 are distressed to the point that no recovery is expected, while prices significantly in excess of 100 or par relate to inflation-linked or structured issuances that pay a coupon in excess of the mark et benchmark as of the measurement date. For credit derivatives, the bond price range represents the range of prices used for reference instruments that are typically converted to an equivalent yield or credit spread as part of the valuation process. Loan price equivalent Where market prices are not available for a traded loan, fair value is measured by comparison with observable pricing data for similar instruments. Factors considered when selecting comparable instruments include industry segment, collater al quality, maturity and issuer-specific covenants. Fair value may be measured either by a direct price comparison or by conversion of an instrument price into a yield. The range represents the range of prices derived from reference issuances of a similar credit quality used in measuring fair value for loans classified as Level 3. Loans priced at 0 are distressed to the point that no recovery is expected, while a current price of 100 represents a loan that is expected to be repaid in full. Credit spread V aluation models for many credit derivatives require an input for the credit spread, which is a reflection of the credit quality of the associated referenced underlying. The credit spread of a particular security is quoted in relation to the yield on a benc hmark security or reference rate, typically either US Treasury or LIBOR, and is generally expressed in terms of basis points. An increase / (decrease) in credit spread will increase / (decrease) the value of credit protection offered by CDS and other credi t derivative products. The income statement effect from such changes depends on the nature and direction of the positions held. Credit spreads may be negative where the asset is more creditworthy than the benchmark against which the spread is calculated. A wider credit spread represents decreas ing creditworthiness. The range represents a diverse set of underlyings, with the lower end of the range representing credits of the highest quality (e.g., approximating the risk of LIBOR) and the upper end of the ra nge representing greater levels of credit risk. Discount margin (DM) The DM spread represents the discount rates used to present value cash flows of an asset to reflect the market return required for uncertainty in the estimated cash flows. DM spreads are a rate or rates applied on top of a floating index (e.g., LIBOR) to discount expected cash flows. Generally, a decrease / (increase) in the DM in isolation would result in a higher / (lower) fair value. The high end of the range relates to securities that are priced low within the market relative to the expected cash flow schedule. This indicates that the market is pricing an increased risk of credit loss into the security that is greater than what is being captured by the expect ed cash flow generation process. The low ends of the ranges are typical of funding rates on better - quality instruments. Funding spread Structured financing transactions are valued using synthetic funding curves that best represent the assets that are pledg ed as collateral for the transactions. They are not representative of where UBS can fund itself on an unsecured basis, but provide an estimate of where UBS can source and deploy secured funding with counterparties for a given type of collateral. The fundin g spreads are expressed in terms of basis points over or under LIBOR, and if funding spreads widen, this increases the effect of discounting. A small proportion of structured debt instruments and non-structured fixed-rate bonds within financial liabilitie s designated at fair value had an exposure to funding spreads that was longer in duration than the actively traded market. Volatility V olatility measures the variability of future prices for a particular instrument and is generally expressed as a percentage, where a higher number reflects a more volatile instrument for which future price movements are more likely to occur. The minimum lev el of volatility is 0% and there is no theoretical maximum. Volatility is a key input into option models, where it is used to derive a probability-based distribution of future prices for the underlying instrument. The effect of volatility on individual pos itions within the portfolio is driven primarily by whether the option contract is a long or short position. In most cases, the fair value of an option increases as a result of an increase in volatility and is reduced by a decrease in volatility. Generally, volatility used in the measurement of fair value is derived from active - market option prices (referred to as implied volatility). A key feature of implied volatility is the volatility “smile” or “skew,” which represents the effect of pricing options of di fferent option strikes at different implied volatility levels. The volatility of interest rates reflects the range of unobservable volatilities across different currencies and related underlying interest rate levels. Volatilities of low interest rates tend to be much higher than volatilities of high interest rates. In addition, different currencies may have significantly different implied volatilities. The volatility of equity stocks, equity and other indices reflects the range of underlying stock volatilit ies . Correlation Correlation measures the inter relationship between the movements of two variables. It is expressed as a percentage between –100% and +100%, where +100% represents perfectly correlated variables (meaning a movement of one variable is associ ated with a movement of the other variable in the same direction), and –100% implies the variables are inversely correlated (meaning a movement of one variable is associated with a movement of the other variable in the opposite direction). The effect of co rrelation on the measurement of fair value depends on the specific terms of the instruments being valued, due to the range of different payoff features within such instruments. Equity-to-FX correlation is important for equity options based on a currency di fferent than the currency of the underlying stock. Equity-to-equity correlation is particularly important for complex options that incorporate, in some manner, different equities in the projected payoff. The closer the correlation is to 100%, the more rela ted one equity is to another. For example, equities with a very high correlation could be from different parts of the same corporate structure. Equity dividend yields The derivation of a forward price for an individual stock or index is important for meas uring fair value for forward or swap contracts and for measuring fair value using option pricing models. The relationship between the current stock price and the forward price is based on a combination of expected future dividend levels and payment timings , and, to a lesser extent, the relevant funding rates applicable to the stock in question. Dividend yields are generally expressed as an annualized percentage of the share price with the lowest limit of 0% representing a stock that is not expected to pay a ny dividend. The dividend yield and timing represents the most significant parameter in determining fair value for instruments that are sensitive to an equity forward price. |
UBS AG | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |
Disclosure of significant unobservable inputs used in fair value measurement [Text Block] | Significant unobservable inputs in Level 3 positions This section discusses the significant unobservable inputs used in the valuation of Lev el 3 instruments and assesses the potential effect that a change in each unobservable input in isolation may have on a fair value measurement, including information to facilitate an understanding of factors that give rise to the input ranges shown. Relatio nships between observable and unobservable inputs have not been included in the summary below. Bond price equivalent Where market prices are not available for a bond, fair value is measured by comparison with observable pricing data from similar instrument s. Factors considered when selecting comparable instruments include credit quality, maturity and industry of the issuer. Fair value may be measured either by a direct price comparison or by conversion of an instrument price into a yield (either as an outri ght yield or as a spread to LIBOR). Bond prices are expressed as points of the nominal, where 100 represents a fair value equal to the nominal value (i.e., par). For corporate and municipal bonds, the range represents the range of prices from reference iss uances used in determining fair value. Bonds priced at 0 are distressed to the point that no recovery is expected, while prices significantly in excess of 100 or par relate to inflation-linked or structured issuances that pay a coupon in excess of the mark et benchmark as of the measurement date. For credit derivatives, the bond price range represents the range of prices used for reference instruments that are typically converted to an equivalent yield or credit spread as part of the valuation process. Loan price equivalent Where market prices are not available for a traded loan, fair value is measured by comparison with observable pricing data for similar instruments. Factors considered when selecting comparable instruments include industry segment, collater al quality, maturity and issuer-specific covenants. Fair value may be measured either by a direct price comparison or by conversion of an instrument price into a yield. The range represents the range of prices derived from reference issuances of a similar credit quality used in measuring fair value for loans classified as Level 3. Loans priced at 0 are distressed to the point that no recovery is expected, while a current price of 100 represents a loan that is expected to be repaid in full. Credit spread V aluation models for many credit derivatives require an input for the credit spread, which is a reflection of the credit quality of the associated referenced underlying. The credit spread of a particular security is quoted in relation to the yield on a benc hmark security or reference rate, typically either US Treasury or LIBOR, and is generally expressed in terms of basis points. An increase / (decrease) in credit spread will increase / (decrease) the value of credit protection offered by CDS and other credi t derivative products. The income statement effect from such changes depends on the nature and direction of the positions held. Credit spreads may be negative where the asset is more creditworthy than the benchmark against which the spread is calculated. A wider credit spread represents decreas ing creditworthiness. The range represents a diverse set of underlyings, with the lower end of the range representing credits of the highest quality (e.g., approximating the risk of LIBOR) and the upper end of the ra nge representing greater levels of credit risk. Discount margin (DM) The DM spread represents the discount rates used to present value cash flows of an asset to reflect the market return required for uncertainty in the estimated cash flows. DM spreads are a rate or rates applied on top of a floating index (e.g., LIBOR) to discount expected cash flows. Generally, a decrease / (increase) in the DM in isolation would result in a higher / (lower) fair value. The high end of the range relates to securities that are priced low within the market relative to the expected cash flow schedule. This indicates that the market is pricing an increased risk of credit loss into the security that is greater than what is being captured by the expect ed cash flow generation process. The low ends of the ranges are typical of funding rates on better - quality instruments. Funding spread Structured financing transactions are valued using synthetic funding curves that best represent the assets that are pledg ed as collateral for the transactions. They are not representative of where UBS can fund itself on an unsecured basis, but provide an estimate of where UBS can source and deploy secured funding with counterparties for a given type of collateral. The fundin g spreads are expressed in terms of basis points over or under LIBOR, and if funding spreads widen, this increases the effect of discounting. A small proportion of structured debt instruments and non-structured fixed-rate bonds within financial liabilitie s designated at fair value had an exposure to funding spreads that was longer in duration than the actively traded market. Significant unobservable inputs in Level 3 positions This section discusses the significant unobservable inputs used in the valuation of Lev el 3 instruments and assesses the potential effect that a change in each unobservable input in isolation may have on a fair value measurement, including information to facilitate an understanding of factors that give rise to the input ranges shown. Relatio nships between observable and unobservable inputs have not been included in the summary below. Bond price equivalent Where market prices are not available for a bond, fair value is measured by comparison with observable pricing data from similar instrument s. Factors considered when selecting comparable instruments include credit quality, maturity and industry of the issuer. Fair value may be measured either by a direct price comparison or by conversion of an instrument price into a yield (either as an outri ght yield or as a spread to LIBOR). Bond prices are expressed as points of the nominal, where 100 represents a fair value equal to the nominal value (i.e., par). For corporate and municipal bonds, the range represents the range of prices from reference iss uances used in determining fair value. Bonds priced at 0 are distressed to the point that no recovery is expected, while prices significantly in excess of 100 or par relate to inflation-linked or structured issuances that pay a coupon in excess of the mark et benchmark as of the measurement date. For credit derivatives, the bond price range represents the range of prices used for reference instruments that are typically converted to an equivalent yield or credit spread as part of the valuation process. Loan price equivalent Where market prices are not available for a traded loan, fair value is measured by comparison with observable pricing data for similar instruments. Factors considered when selecting comparable instruments include industry segment, collater al quality, maturity and issuer-specific covenants. Fair value may be measured either by a direct price comparison or by conversion of an instrument price into a yield. The range represents the range of prices derived from reference issuances of a similar credit quality used in measuring fair value for loans classified as Level 3. Loans priced at 0 are distressed to the point that no recovery is expected, while a current price of 100 represents a loan that is expected to be repaid in full. Credit spread V aluation models for many credit derivatives require an input for the credit spread, which is a reflection of the credit quality of the associated referenced underlying. The credit spread of a particular security is quoted in relation to the yield on a benc hmark security or reference rate, typically either US Treasury or LIBOR, and is generally expressed in terms of basis points. An increase / (decrease) in credit spread will increase / (decrease) the value of credit protection offered by CDS and other credi t derivative products. The income statement effect from such changes depends on the nature and direction of the positions held. Credit spreads may be negative where the asset is more creditworthy than the benchmark against which the spread is calculated. A wider credit spread represents decreas ing creditworthiness. The range represents a diverse set of underlyings, with the lower end of the range representing credits of the highest quality (e.g., approximating the risk of LIBOR) and the upper end of the ra nge representing greater levels of credit risk. Discount margin (DM) The DM spread represents the discount rates used to present value cash flows of an asset to reflect the market return required for uncertainty in the estimated cash flows. DM spreads are a rate or rates applied on top of a floating index (e.g., LIBOR) to discount expected cash flows. Generally, a decrease / (increase) in the DM in isolation would result in a higher / (lower) fair value. The high end of the range relates to securities that are priced low within the market relative to the expected cash flow schedule. This indicates that the market is pricing an increased risk of credit loss into the security that is greater than what is being captured by the expect ed cash flow generation process. The low ends of the ranges are typical of funding rates on better - quality instruments. Funding spread Structured financing transactions are valued using synthetic funding curves that best represent the assets that are pledg ed as collateral for the transactions. They are not representative of where UBS can fund itself on an unsecured basis, but provide an estimate of where UBS can source and deploy secured funding with counterparties for a given type of collateral. The fundin g spreads are expressed in terms of basis points over or under LIBOR, and if funding spreads widen, this increases the effect of discounting. A small proportion of structured debt instruments and non-structured fixed-rate bonds within financial liabilitie s designated at fair value had an exposure to funding spreads that was longer in duration than the actively traded market. Volatility V olatility measures the variability of future prices for a particular instrument and is generally expressed as a percentage, where a higher number reflects a more volatile instrument for which future price movements are more likely to occur. The minimum lev el of volatility is 0% and there is no theoretical maximum. Volatility is a key input into option models, where it is used to derive a probability-based distribution of future prices for the underlying instrument. The effect of volatility on individual pos itions within the portfolio is driven primarily by whether the option contract is a long or short position. In most cases, the fair value of an option increases as a result of an increase in volatility and is reduced by a decrease in volatility. Generally, volatility used in the measurement of fair value is derived from active - market option prices (referred to as implied volatility). A key feature of implied volatility is the volatility “smile” or “skew,” which represents the effect of pricing options of di fferent option strikes at different implied volatility levels. The volatility of interest rates reflects the range of unobservable volatilities across different currencies and related underlying interest rate levels. Volatilities of low interest rates tend to be much higher than volatilities of high interest rates. In addition, different currencies may have significantly different implied volatilities. The volatility of equity stocks, equity and other indices reflects the range of underlying stock volatilit ies . Correlation Correlation measures the inter relationship between the movements of two variables. It is expressed as a percentage between –100% and +100%, where +100% represents perfectly correlated variables (meaning a movement of one variable is associ ated with a movement of the other variable in the same direction), and –100% implies the variables are inversely correlated (meaning a movement of one variable is associated with a movement of the other variable in the opposite direction). The effect of co rrelation on the measurement of fair value depends on the specific terms of the instruments being valued, due to the range of different payoff features within such instruments. Equity-to-FX correlation is important for equity options based on a currency di fferent than the currency of the underlying stock. Equity-to-equity correlation is particularly important for complex options that incorporate, in some manner, different equities in the projected payoff. The closer the correlation is to 100%, the more rela ted one equity is to another. For example, equities with a very high correlation could be from different parts of the same corporate structure. Equity dividend yields The derivation of a forward price for an individual stock or index is important for meas uring fair value for forward or swap contracts and for measuring fair value using option pricing models. The relationship between the current stock price and the forward price is based on a combination of expected future dividend levels and payment timings , and, to a lesser extent, the relevant funding rates applicable to the stock in question. Dividend yields are generally expressed as an annualized percentage of the share price with the lowest limit of 0% representing a stock that is not expected to pay a ny dividend. The dividend yield and timing represents the most significant parameter in determining fair value for instruments that are sensitive to an equity forward price. |
FVM - Level 3 instruments_ V173
FVM - Level 3 instruments: Valuation techniques and inputs (Detail) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017CHF (SFr) | Dec. 31, 2016CHF (SFr) | ||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [1] | SFr 316,629 | SFr 341,298 |
Financial liabilities, at fair value | [1] | 212,323 | 246,150 |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Corporate and municipal bonds | Relative value to market comparable | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | 600 | 600 | |
Financial liabilities, at fair value | SFr 0 | SFr 0 | |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Corporate and municipal bonds | Relative value to market comparable | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Bond price equivalent (points) | [2] | 0 | 0 |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Corporate and municipal bonds | Relative value to market comparable | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Bond price equivalent (points) | [2] | 133 | 128 |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Corporate and municipal bonds | Relative value to market comparable | weighted average | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Bond price equivalent (points) | [2],[3] | 92 | 88 |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Relative value to market comparable | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | SFr 1,700 | SFr 2,000 | |
Financial liabilities, at fair value | SFr 0 | SFr 0 | |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Relative value to market comparable | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Loan price equivalent (points) | [2] | 50 | 39 |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Relative value to market comparable | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Loan price equivalent (points) | [2] | 102 | 103 |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Relative value to market comparable | weighted average | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Loan price equivalent (points) | [2],[3] | 98 | 94 |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Market comparable and securitization model | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Discount margin | [2] | 0.00% | 0.00% |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Market comparable and securitization model | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Discount margin | [2] | 14.00% | 16.00% |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Market comparable and securitization model | weighted average | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Discount margin | [2],[3] | 2.00% | 2.00% |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Discounted expected cash flows | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Credit spread | 0.23% | 0.71% | |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Discounted expected cash flows | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Credit spread | 1.24% | 5.54% | |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Investment fund units | Relative value to market comparable | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [4] | SFr 700 | SFr 200 |
Financial liabilities, at fair value | [4] | 0 | 0 |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Equity instruments | Relative value to market comparable | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [4] | 500 | 400 |
Financial liabilities, at fair value | [4] | 100 | 100 |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Structured (reverse) repurchase agreements | Discounted expected cash flows | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | 200 | 600 | |
Financial liabilities, at fair value | SFr 0 | SFr 300 | |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Structured (reverse) repurchase agreements | Discounted expected cash flows | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Funding spread | 0.15% | 0.15% | |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Structured (reverse) repurchase agreements | Discounted expected cash flows | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Funding spread | 1.95% | 1.95% | |
Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Issued and OTC debt instruments | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial liabilities, at fair value | [5] | SFr 12,800 | SFr 10,700 |
Replacement values: Interest rate contracts | Option model | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | 100 | 300 | |
Financial liabilities, at fair value | SFr 200 | SFr 500 | |
Replacement values: Interest rate contracts | Option model | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [2] | 26.00% | 26.00% |
Replacement values: Interest rate contracts | Option model | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [2] | 229.00% | 176.00% |
Replacement values: Credit derivative contracts | Discounted expected cash flows | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | SFr 500 | SFr 1,300 | |
Financial liabilities, at fair value | SFr 600 | SFr 1,500 | |
Replacement values: Credit derivative contracts | Discounted expected cash flows | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Bond price equivalent (points) | [2] | 2 | 3 |
Credit spread | 0.06% | 0.00% | |
Replacement values: Credit derivative contracts | Discounted expected cash flows | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Bond price equivalent (points) | [2] | 102 | 100 |
Credit spread | 5.50% | 7.91% | |
Replacement values: Equity / index contracts | Option model | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | SFr 700 | SFr 700 | |
Financial liabilities, at fair value | SFr 1,900 | SFr 1,900 | |
Replacement values: Equity / index contracts | Option model | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Equity dividend yields | [2] | 0.00% | 0.00% |
Volatility of equity stocks, equity and other indices | [2] | 0.00% | 0.00% |
Equity-to-FX correlation | [2] | (39.00%) | (45.00%) |
Equity-to-equity correlation | [2] | (50.00%) | 12.00% |
Replacement values: Equity / index contracts | Option model | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Equity dividend yields | [2] | 13.00% | 15.00% |
Volatility of equity stocks, equity and other indices | [2] | 172.00% | 150.00% |
Equity-to-FX correlation | [2] | 70.00% | 82.00% |
Equity-to-equity correlation | [2] | 97.00% | 98.00% |
UBS AG | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [1] | SFr 316,353 | SFr 341,056 |
Financial liabilities, at fair value | [1] | 212,324 | 246,152 |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Corporate and municipal bonds | Relative value to market comparable | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | 600 | 600 | |
Financial liabilities, at fair value | SFr 0 | SFr 0 | |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Corporate and municipal bonds | Relative value to market comparable | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Bond price equivalent (points) | [2] | 0 | 0 |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Corporate and municipal bonds | Relative value to market comparable | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Bond price equivalent (points) | [2] | 133 | 128 |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Corporate and municipal bonds | Relative value to market comparable | weighted average | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Bond price equivalent (points) | [2],[3] | 92 | 88 |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Relative value to market comparable | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | SFr 1,700 | SFr 2,000 | |
Financial liabilities, at fair value | SFr 0 | SFr 0 | |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Relative value to market comparable | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Loan price equivalent (points) | [2] | 50 | 39 |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Relative value to market comparable | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Loan price equivalent (points) | [2] | 102 | 103 |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Relative value to market comparable | weighted average | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Loan price equivalent (points) | [2],[3] | 98 | 94 |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Market comparable and securitization model | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Discount margin | [2] | 0.00% | 0.00% |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Market comparable and securitization model | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Discount margin | [2] | 14.00% | 16.00% |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Market comparable and securitization model | weighted average | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Discount margin | [2],[3] | 2.00% | 2.00% |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Discounted expected cash flows | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Credit spread | 0.23% | 0.71% | |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Traded loans, loans designated at fair value, loan commitments and guarantees | Discounted expected cash flows | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Credit spread | 1.24% | 5.54% | |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Investment fund units | Relative value to market comparable | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [4] | SFr 700 | SFr 200 |
Financial liabilities, at fair value | [4] | 0 | 0 |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Equity instruments | Relative value to market comparable | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [4] | 500 | 400 |
Financial liabilities, at fair value | [4] | 100 | 100 |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Structured (reverse) repurchase agreements | Discounted expected cash flows | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | 200 | 600 | |
Financial liabilities, at fair value | SFr 0 | SFr 300 | |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Structured (reverse) repurchase agreements | Discounted expected cash flows | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Funding spread | 0.15% | 0.15% | |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Structured (reverse) repurchase agreements | Discounted expected cash flows | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Funding spread | 1.95% | 1.95% | |
UBS AG | Financial assets held for trading / Trading portfolio liabilities, Financial assets/liabilities designated at fair value and Financial assets available for sale: Issued and OTC debt instruments | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial liabilities, at fair value | [5] | SFr 12,800 | SFr 10,700 |
UBS AG | Replacement values: Interest rate contracts | Option model | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | 100 | 300 | |
Financial liabilities, at fair value | SFr 200 | SFr 500 | |
UBS AG | Replacement values: Interest rate contracts | Option model | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [2] | 26.00% | 26.00% |
UBS AG | Replacement values: Interest rate contracts | Option model | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [2] | 229.00% | 176.00% |
UBS AG | Replacement values: Credit derivative contracts | Discounted expected cash flows | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | SFr 500 | SFr 1,300 | |
Financial liabilities, at fair value | SFr 600 | SFr 1,500 | |
UBS AG | Replacement values: Credit derivative contracts | Discounted expected cash flows | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Bond price equivalent (points) | [2] | 2 | 3 |
Credit spread | 0.06% | 0.00% | |
UBS AG | Replacement values: Credit derivative contracts | Discounted expected cash flows | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Bond price equivalent (points) | [2] | 102 | 100 |
Credit spread | 5.50% | 7.91% | |
UBS AG | Replacement values: Equity / index contracts | Option model | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | SFr 700 | SFr 700 | |
Financial liabilities, at fair value | SFr 1,900 | SFr 1,900 | |
UBS AG | Replacement values: Equity / index contracts | Option model | low | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Equity dividend yields | [2] | 0.00% | 0.00% |
Volatility of equity stocks, equity and other indices | [2] | 0.00% | 0.00% |
Equity-to-FX correlation | [2] | (39.00%) | (45.00%) |
Equity-to-equity correlation | [2] | (50.00%) | 12.00% |
UBS AG | Replacement values: Equity / index contracts | Option model | high | |||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement [Line Items] | |||
Equity dividend yields | [2] | 13.00% | 15.00% |
Volatility of equity stocks, equity and other indices | [2] | 172.00% | 150.00% |
Equity-to-FX correlation | [2] | 70.00% | 82.00% |
Equity-to-equity correlation | [2] | 97.00% | 98.00% |
[1] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented | ||
[2] | The ranges of significant unobservable inputs are represented in points, percentages and basis points. Points are a percentage of par (e.g., 100 points would be 100% of par). | ||
[3] | Weighted averages are provided for non-derivative financial instruments and were calculated by weighting inputs based on the fair values of the respective instruments. Weighted averages are not provided for inputs related to derivative contracts as this would not be meaningful. | ||
[4] | The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. | ||
[5] | Valuation techniques, significant unobservable inputs and the respective input ranges for issued debt instruments and over-the-counter debt instruments are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. |
FVM - Level 3 instruments_ Sens
FVM - Level 3 instruments: Sensitivity to changes in unobservable input assumptions (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | SFr 502 | SFr 560 |
Unfavorable changes | [1],[2] | (450) | (517) |
Financial assets available for sale | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 78 | 75 | |
Unfavorable changes | 51 | 55 | |
Traded loans, loans designated at fair value, loan commitments and guarantees | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 79 | 80 |
Unfavorable changes | [1],[2] | (11) | (8) |
Asset-backed securities | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 19 | 23 |
Unfavorable changes | [1],[2] | (15) | (29) |
Equity instruments | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 79 | 85 |
Unfavorable changes | [1],[2] | (53) | (66) |
Interest rate derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 13 | 30 |
Unfavorable changes | [1],[2] | (26) | (30) |
Credit derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 64 | 128 |
Unfavorable changes | [1],[2] | (99) | (174) |
Foreign exchange derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 12 | 18 |
Unfavorable changes | [1],[2] | (6) | (9) |
Equity / index derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 190 | 142 |
Unfavorable changes | [1],[2] | (193) | (143) |
Structured (reverse) repurchase agreements | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 34 | 43 |
Unfavorable changes | [1],[2] | (34) | (46) |
Other | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 13 | 12 |
Unfavorable changes | [1],[2] | (13) | (12) |
UBS AG | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 502 | 560 |
Unfavorable changes | [1],[2] | (450) | (517) |
UBS AG | Financial assets available for sale | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | 78 | 75 | |
Unfavorable changes | 51 | 55 | |
UBS AG | Traded loans, loans designated at fair value, loan commitments and guarantees | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 79 | 80 |
Unfavorable changes | [1],[2] | (11) | (8) |
UBS AG | Asset-backed securities | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 19 | 23 |
Unfavorable changes | [1],[2] | (15) | (29) |
UBS AG | Equity instruments | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 79 | 85 |
Unfavorable changes | [1],[2] | (53) | (66) |
UBS AG | Interest rate derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 13 | 30 |
Unfavorable changes | [1],[2] | (26) | (30) |
UBS AG | Credit derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 64 | 128 |
Unfavorable changes | [1],[2] | (99) | (174) |
UBS AG | Foreign exchange derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 12 | 18 |
Unfavorable changes | [1],[2] | (6) | (9) |
UBS AG | Equity / index derivative contracts, net | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 190 | 142 |
Unfavorable changes | [1],[2] | (193) | (143) |
UBS AG | Structured (reverse) repurchase agreements | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 34 | 43 |
Unfavorable changes | [1],[2] | (34) | (46) |
UBS AG | Other | |||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | |||
Favorable changes | [1],[2] | 13 | 12 |
Unfavorable changes | [1],[2] | SFr (13) | SFr (12) |
[1] | Effective 31 December 2017, the sensitivity of issued and over-the-counter debt instruments is reported with the equivalent derivative or structured financing instrument. Prior-period information has been restated to reflect this change in presentation. | ||
[2] | Of the total favorable changes, CHF 78 million as of 31 December 2017 (31 December 2016: CHF 75 million) related to financial assets available for sale. Of the total unfavorable changes, CHF 51 million as of 31 December 2017 (31 December 2016: CHF 55 million) related to financial assets available for sale. |
FVM - Financial instruments not
FVM - Financial instruments not measured at fair value (Detail 1.1) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Carrying value | |||
Cash and balances with central banks | [1] | SFr 87,775 | SFr 107,767 |
Due from banks | [1] | 13,739 | 13,156 |
Cash collateral on securities borrowed | [1] | 12,393 | 15,111 |
Reverse repurchase agreements | [1] | 77,240 | 66,246 |
Cash collateral receivables on derivative instruments | [1] | 23,434 | 26,664 |
Loans | [1],[2] | 319,568 | 306,325 |
Financial assets held to maturity | [1] | 9,166 | 9,289 |
Other assets | 29,706 | 25,436 | |
Fair Value | |||
Financial assets, at fair value | [3] | 316,629 | 341,298 |
Not measured at fair value | |||
Carrying value | |||
Cash and balances with central banks | 87,800 | 107,800 | |
Due from banks | 13,700 | 13,200 | |
Cash collateral on securities borrowed | 12,400 | 15,100 | |
Reverse repurchase agreements | 77,200 | 66,200 | |
Cash collateral receivables on derivative instruments | 23,400 | 26,700 | |
Loans | 319,600 | 306,300 | |
Financial assets held to maturity | 9,200 | 9,300 | |
Other assets | 27,900 | 18,500 | |
Level 1 | |||
Fair Value | |||
Financial assets, at fair value | [3] | 140,015 | 132,062 |
Level 2 | |||
Fair Value | |||
Financial assets, at fair value | [3] | 171,125 | 202,377 |
Level 3 | |||
Fair Value | |||
Financial assets, at fair value | [3] | 5,489 | 6,860 |
Cash and balances with central banks | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 87,800 | 107,800 | |
Cash and balances with central banks | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 87,800 | 107,800 | |
Cash and balances with central banks | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
Cash and balances with central banks | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
Due from banks | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 13,700 | 13,200 | |
Due from banks | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 13,100 | 12,500 | |
Due from banks | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 600 | 700 | |
Due from banks | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
Cash collateral on securities borrowed | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 12,400 | 15,100 | |
Cash collateral on securities borrowed | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
Cash collateral on securities borrowed | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 12,400 | 15,100 | |
Cash collateral on securities borrowed | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
Reverse repurchase agreements | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 77,200 | 66,200 | |
Reverse repurchase agreements | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
Reverse repurchase agreements | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 74,800 | 62,500 | |
Reverse repurchase agreements | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 2,500 | 3,700 | |
Cash collateral receivables on derivative instruments | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 23,400 | 26,700 | |
Cash collateral receivables on derivative instruments | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
Cash collateral receivables on derivative instruments | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 23,400 | 26,700 | |
Cash collateral receivables on derivative instruments | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
Loans | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 321,000 | 309,700 | |
Loans | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
Loans | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 176,700 | 169,300 | |
Loans | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 144,300 | 140,400 | |
Financial assets held to maturity | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 9,000 | 9,100 | |
Financial assets held to maturity | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 6,300 | 6,300 | |
Financial assets held to maturity | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 2,700 | 2,800 | |
Financial assets held to maturity | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
Other assets | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 27,900 | 18,500 | |
Other assets | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
Other assets | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 27,900 | 18,500 | |
Other assets | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | |||
Carrying value | |||
Cash and balances with central banks | [1] | 87,775 | 107,767 |
Due from banks | [1] | 13,693 | 13,125 |
Cash collateral on securities borrowed | [1] | 12,393 | 15,111 |
Reverse repurchase agreements | [1] | 77,240 | 66,246 |
Cash collateral receivables on derivative instruments | [1] | 23,434 | 26,664 |
Loans | [1],[2] | 321,718 | 307,004 |
Financial assets held to maturity | [1] | 9,166 | 9,289 |
Other assets | 29,505 | 25,412 | |
Fair Value | |||
Financial assets, at fair value | [3] | 316,353 | 341,056 |
UBS AG | Not measured at fair value | |||
Carrying value | |||
Cash and balances with central banks | 87,800 | 107,800 | |
Due from banks | 13,700 | 13,100 | |
Cash collateral on securities borrowed | 12,400 | 15,100 | |
Reverse repurchase agreements | 77,200 | 66,200 | |
Cash collateral receivables on derivative instruments | 23,400 | 26,700 | |
Loans | 321,700 | 307,000 | |
Financial assets held to maturity | 9,200 | 9,300 | |
Other assets | 28,000 | 18,500 | |
UBS AG | Level 1 | |||
Fair Value | |||
Financial assets, at fair value | [3] | 140,017 | 132,064 |
UBS AG | Level 2 | |||
Fair Value | |||
Financial assets, at fair value | [3] | 170,848 | 202,132 |
UBS AG | Level 3 | |||
Fair Value | |||
Financial assets, at fair value | [3] | 5,489 | 6,860 |
UBS AG | Cash and balances with central banks | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 87,800 | 107,800 | |
UBS AG | Cash and balances with central banks | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 87,800 | 107,800 | |
UBS AG | Cash and balances with central banks | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | Cash and balances with central banks | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | Due from banks | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 13,700 | 13,100 | |
UBS AG | Due from banks | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 13,100 | 12,500 | |
UBS AG | Due from banks | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 600 | 700 | |
UBS AG | Due from banks | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | Cash collateral on securities borrowed | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 12,400 | 15,100 | |
UBS AG | Cash collateral on securities borrowed | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | Cash collateral on securities borrowed | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 12,400 | 15,100 | |
UBS AG | Cash collateral on securities borrowed | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | Reverse repurchase agreements | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 77,200 | 66,200 | |
UBS AG | Reverse repurchase agreements | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | Reverse repurchase agreements | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 74,800 | 62,500 | |
UBS AG | Reverse repurchase agreements | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 2,500 | 3,700 | |
UBS AG | Cash collateral receivables on derivative instruments | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 23,400 | 26,700 | |
UBS AG | Cash collateral receivables on derivative instruments | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | Cash collateral receivables on derivative instruments | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 23,400 | 26,700 | |
UBS AG | Cash collateral receivables on derivative instruments | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | Loans | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 323,100 | 310,400 | |
UBS AG | Loans | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | Loans | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 178,900 | 170,000 | |
UBS AG | Loans | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 144,300 | 140,400 | |
UBS AG | Financial assets held to maturity | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 9,000 | 9,100 | |
UBS AG | Financial assets held to maturity | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 6,300 | 6,300 | |
UBS AG | Financial assets held to maturity | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 2,700 | 2,800 | |
UBS AG | Financial assets held to maturity | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | Other assets | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 28,000 | 18,500 | |
UBS AG | Other assets | Level 1 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 0 | 0 | |
UBS AG | Other assets | Level 2 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | 28,000 | 18,500 | |
UBS AG | Other assets | Level 3 | Not measured at fair value | |||
Fair Value | |||
Financial assets, at fair value | SFr 0 | SFr 0 | |
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | ||
[2] | Includes finance lease receivables of CHF 1.1 billion as of 31 December 2017 (31 December 2016: CHF 1.0 billion). Refer to Notes 10 and 31 for more information. | ||
[3] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented |
FVM - Financial instruments 176
FVM - Financial instruments not measured at fair value (Detail 1.2) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | ||
Carrying value | ||||
Due to banks | SFr 7,533 | [1],[2] | SFr 10,645 | |
Cash collateral on securities lent | 1,789 | [1],[2] | 2,818 | |
Repurchase agreements | 15,255 | [1],[2] | 6,612 | |
Cash collateral payables on derivative instruments | 30,247 | [1],[2] | 35,472 | |
Due to customers | 408,999 | [1],[2] | 423,672 | |
Debt issued | [3] | 139,551 | 103,649 | |
Other liabilities | 57,064 | 62,020 | ||
Fair Value | ||||
Financial liabilities, at fair value | [4] | 212,323 | 246,150 | |
Not measured at fair value | ||||
Carrying value | ||||
Due to banks | 7,500 | 10,600 | ||
Cash collateral on securities lent | 1,800 | 2,800 | ||
Repurchase agreements | 15,300 | 6,600 | ||
Cash collateral payables on derivative instruments | 30,200 | 35,500 | ||
Due to customers | 409,000 | 423,700 | ||
Debt issued | 139,600 | 103,700 | ||
Other liabilities | 36,300 | 38,300 | ||
Level 1 | ||||
Fair Value | ||||
Financial liabilities, at fair value | [4] | 26,435 | 19,347 | |
Level 2 | ||||
Fair Value | ||||
Financial liabilities, at fair value | [4] | 170,138 | 211,660 | |
Level 3 | ||||
Fair Value | ||||
Financial liabilities, at fair value | [4] | 15,750 | 15,143 | |
Due to banks | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 7,500 | 10,600 | ||
Due to banks | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 6,500 | 8,800 | ||
Due to banks | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 1,100 | 1,900 | ||
Due to banks | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Cash collateral on securities lent | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 1,800 | 2,800 | ||
Cash collateral on securities lent | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Cash collateral on securities lent | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 1,800 | 2,800 | ||
Cash collateral on securities lent | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Repurchase agreements | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 15,300 | 6,600 | ||
Repurchase agreements | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Repurchase agreements | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 15,300 | 6,600 | ||
Repurchase agreements | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Cash collateral payables on derivative instruments | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 30,200 | 35,500 | ||
Cash collateral payables on derivative instruments | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Cash collateral payables on derivative instruments | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 30,200 | 35,500 | ||
Cash collateral payables on derivative instruments | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Due to customers | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 409,000 | 423,700 | ||
Due to customers | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Due to customers | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 409,000 | 423,700 | ||
Due to customers | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Debt issued | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 143,500 | 106,100 | ||
Debt issued | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Debt issued | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 139,100 | 103,500 | ||
Debt issued | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 4,300 | 2,600 | ||
Other liabilities | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 36,300 | 38,400 | ||
Other liabilities | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Other liabilities | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 36,300 | 38,400 | ||
Other liabilities | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | ||||
Carrying value | ||||
Due to banks | 7,533 | [1],[2] | 10,645 | |
Cash collateral on securities lent | 1,789 | [1],[2] | 2,818 | |
Repurchase agreements | 15,255 | [1],[2] | 6,612 | |
Cash collateral payables on derivative instruments | 30,247 | [1],[2] | 35,472 | |
Due to customers | 447,141 | [1],[2] | 450,199 | |
Debt issued | [3] | 104,749 | 78,998 | |
Other liabilities | 54,990 | 60,443 | ||
Fair Value | ||||
Financial liabilities, at fair value | [4] | 212,324 | 246,152 | |
UBS AG | Not measured at fair value | ||||
Carrying value | ||||
Due to banks | 7,500 | 10,600 | ||
Cash collateral on securities lent | 1,800 | 2,800 | ||
Repurchase agreements | 15,300 | 6,600 | ||
Cash collateral payables on derivative instruments | 30,200 | 35,500 | ||
Due to customers | 447,100 | 450,200 | ||
Debt issued | 104,800 | 79,000 | ||
Other liabilities | 37,100 | 39,000 | ||
UBS AG | Level 1 | ||||
Fair Value | ||||
Financial liabilities, at fair value | [4] | 26,435 | 19,349 | |
UBS AG | Level 2 | ||||
Fair Value | ||||
Financial liabilities, at fair value | [4] | 170,139 | 211,660 | |
UBS AG | Level 3 | ||||
Fair Value | ||||
Financial liabilities, at fair value | [4] | 15,750 | 15,143 | |
UBS AG | Due to banks | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 7,500 | 10,600 | ||
UBS AG | Due to banks | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 6,500 | 8,800 | ||
UBS AG | Due to banks | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 1,100 | 1,900 | ||
UBS AG | Due to banks | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | Cash collateral on securities lent | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 1,800 | 2,800 | ||
UBS AG | Cash collateral on securities lent | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | Cash collateral on securities lent | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 1,800 | 2,800 | ||
UBS AG | Cash collateral on securities lent | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | Repurchase agreements | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 15,300 | 6,600 | ||
UBS AG | Repurchase agreements | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | Repurchase agreements | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 15,300 | 6,600 | ||
UBS AG | Repurchase agreements | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | Cash collateral payables on derivative instruments | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 30,200 | 35,500 | ||
UBS AG | Cash collateral payables on derivative instruments | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | Cash collateral payables on derivative instruments | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 30,200 | 35,500 | ||
UBS AG | Cash collateral payables on derivative instruments | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | Due to customers | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 448,800 | 450,600 | ||
UBS AG | Due to customers | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | Due to customers | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 448,800 | 450,600 | ||
UBS AG | Due to customers | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | Debt issued | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 107,000 | 81,100 | ||
UBS AG | Debt issued | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | Debt issued | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 102,700 | 78,500 | ||
UBS AG | Debt issued | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 4,300 | 2,600 | ||
UBS AG | Other liabilities | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 37,100 | 39,000 | ||
UBS AG | Other liabilities | Level 1 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 0 | 0 | ||
UBS AG | Other liabilities | Level 2 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | 37,100 | 39,000 | ||
UBS AG | Other liabilities | Level 3 | Not measured at fair value | ||||
Fair Value | ||||
Financial liabilities, at fair value | SFr 0 | SFr 0 | ||
[1] | Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. | |||
[2] | Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. | |||
[3] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | |||
[4] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The fair value of these derivatives was not material for the periods presented |
FVM - Financial instruments 177
FVM - Financial instruments not measured at fair value (Narrative) (Detail) - Not Later Than Three Months [Member] | Dec. 31, 2017 |
Cash and balances with central banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
Due from banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 95.00% |
Cash collateral on securities borrowed | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
Reverse repurchase agreements | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 81.00% |
Cash collateral receivables on derivative instruments | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
Loans | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 51.00% |
Financial assets held to maturity | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 0.00% |
Due to banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 86.00% |
Cash collateral on securities lent | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
Repurchase agreements | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 96.00% |
Cash collateral payables on derivative instruments | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
Due to customers | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 99.00% |
Debt issued | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 13.00% |
UBS AG | Cash and balances with central banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
UBS AG | Due from banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 95.00% |
UBS AG | Cash collateral on securities borrowed | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
UBS AG | Reverse repurchase agreements | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 81.00% |
UBS AG | Cash collateral receivables on derivative instruments | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
UBS AG | Loans | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 51.00% |
UBS AG | Financial assets held to maturity | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 0.00% |
UBS AG | Due to banks | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 86.00% |
UBS AG | Cash collateral on securities lent | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
UBS AG | Repurchase agreements | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 96.00% |
UBS AG | Cash collateral payables on derivative instruments | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 100.00% |
UBS AG | Due to customers | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 99.00% |
UBS AG | Debt issued | |
Disclosure Of Maturity Analysis For Financial Instruments Not Measured At Fair Value [Line Items] | |
Percentage | 13.00% |
Restricted financial assets (De
Restricted financial assets (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Financial assets pledged as collateral | |||
Trading portfolio assets | SFr 46,219 | SFr 36,549 | |
of which: assets pledged as collateral which may be sold or repledged by counterparties | 35,363 | 30,260 | |
Loans | [1] | 17,631 | 19,887 |
Financial assets designated at fair value | 170 | 776 | |
of which: assets pledged as collateral which may be sold or repledged by counterparties | 170 | 636 | |
Total financial assets pledged as collateral | [2] | 64,020 | 57,213 |
Other restricted financial assets | |||
Due from banks | 3,280 | 2,625 | |
Reverse repurchase agreements | 0 | 658 | |
Trading portfolio assets | 12,273 | 12,129 | |
Cash collateral receivables on derivative instruments | 3,822 | 4,329 | |
Loans | 1,256 | 958 | |
Financial assets designated at fair value | 2,602 | 328 | |
Financial assets available for sale | 246 | 247 | |
Other | 95 | 5,195 | |
Total other restricted financial assets | 23,573 | 26,470 | |
Total financial assets pledged and other restricted financial assets | 87,593 | 83,683 | |
Pledged mortgage loans that could be withdrawn or used | 2,100 | 1,900 | |
Assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes | 2,500 | 4,700 | |
UBS AG | |||
Financial assets pledged as collateral | |||
Trading portfolio assets | 46,257 | 36,549 | |
of which: assets pledged as collateral which may be sold or repledged by counterparties | 35,363 | 30,260 | |
Loans | [1] | 17,631 | 19,887 |
Financial assets designated at fair value | 170 | 776 | |
of which: assets pledged as collateral which may be sold or repledged by counterparties | 170 | 636 | |
Total financial assets pledged as collateral | [2] | 64,059 | 57,213 |
Other restricted financial assets | |||
Due from banks | 3,280 | 2,625 | |
Reverse repurchase agreements | 0 | 658 | |
Trading portfolio assets | 12,273 | 12,129 | |
Cash collateral receivables on derivative instruments | 3,822 | 4,329 | |
Loans | 1,256 | 958 | |
Financial assets designated at fair value | 2,225 | 0 | |
Financial assets available for sale | 246 | 247 | |
Other | 95 | 5,195 | |
Total other restricted financial assets | 23,196 | 26,141 | |
Total financial assets pledged and other restricted financial assets | 87,255 | 83,354 | |
Pledged mortgage loans that could be withdrawn or used | 2,100 | 1,900 | |
Assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes | SFr 2,500 | SFr 4,700 | |
[1] | All related to mortgage loans that serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances. Of these pledged mortgage loans, approximately CHF 2.1 billion for 31 December 2017 (31 December 2016: approximately CHF 1.9 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements. | ||
[2] | Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2017: CHF 2.5 billion; 31 December 2016: CHF 4.7 billion). |
Restricted financial assets (Na
Restricted financial assets (Narrative) (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Restricted Financial Assets [Line Items] | ||
Pledged mortgage loans serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances | SFr 12,457 | SFr 14,137 |
UBS AG | ||
Restricted Financial Assets [Line Items] | ||
Pledged mortgage loans serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances | SFr 12,457 | SFr 14,137 |
Transferred financial assets180
Transferred financial assets that are not derecognized in their entirety (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | SFr 35,533 | SFr 30,896 |
Carrying value of associated liabilities recognized on-balance sheet | 13,111 | 11,890 |
Trading portfolio assets that may be sold or repledged by counterparties | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 35,363 | 30,260 |
Carrying value of associated liabilities recognized on-balance sheet | 12,942 | 11,260 |
relating to securities lending and repurchase agreements in exchange for cash received | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 13,145 | 11,410 |
Carrying value of associated liabilities recognized on-balance sheet | 12,942 | 11,260 |
relating to securities lending agreements in exchange for securities received | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 21,137 | 17,341 |
Carrying value of associated liabilities recognized on-balance sheet | 0 | 0 |
relating to other financial asset transfers | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 1,081 | 1,509 |
Carrying value of associated liabilities recognized on-balance sheet | 0 | 0 |
Financial assets designated at fair value that may be sold or repledged by counterparties | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 170 | 636 |
Carrying value of associated liabilities recognized on-balance sheet | 169 | 630 |
UBS AG | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 35,533 | 30,896 |
Carrying value of associated liabilities recognized on-balance sheet | 13,111 | 11,890 |
UBS AG | Trading portfolio assets that may be sold or repledged by counterparties | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 35,363 | 30,260 |
Carrying value of associated liabilities recognized on-balance sheet | 12,942 | 11,260 |
UBS AG | relating to securities lending and repurchase agreements in exchange for cash received | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 13,145 | 11,410 |
Carrying value of associated liabilities recognized on-balance sheet | 12,942 | 11,260 |
UBS AG | relating to securities lending agreements in exchange for securities received | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 21,137 | 17,341 |
Carrying value of associated liabilities recognized on-balance sheet | 0 | 0 |
UBS AG | relating to other financial asset transfers | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 1,081 | 1,509 |
Carrying value of associated liabilities recognized on-balance sheet | 0 | 0 |
UBS AG | Financial assets designated at fair value that may be sold or repledged by counterparties | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying value of transferred assets | 170 | 636 |
Carrying value of associated liabilities recognized on-balance sheet | SFr 169 | SFr 630 |
Transferred financial assets181
Transferred financial assets that are not derecognized in their entirety (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | |
Proportion of transferred financial assets that were trading portfolio assets in exchange for cash | 33.33% |
Minimum haircut applied to transferred assets in securities lending and repurchase agreements | 0.00% |
Maximum haircut applied to transferred assets in securities lending and repurchase agreements | 15.00% |
UBS AG | |
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | |
Proportion of transferred financial assets that were trading portfolio assets in exchange for cash | 33.33% |
Minimum haircut applied to transferred assets in securities lending and repurchase agreements | 0.00% |
Maximum haircut applied to transferred assets in securities lending and repurchase agreements | 15.00% |
Transferred financial assets182
Transferred financial assets that are derecognized in their entirety with continuing involvement (Narrative) (Detail 1.1) - Securitisations [Member] - CHF (SFr) SFr in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Continuing Involvement In Derecognised Financial Assets [Line Items] | ||
Fair Value Of Assets Representing Continuing Involvement In Derecognised Financial Assets | SFr 8 | SFr 5 |
Income From Continuing Involvement In Derecognised Financial Assets | 4 | 11 |
Expense From Continuing Involvement In Derecognised Financial Assets Cumulatively Recognised | 1,170 | 1,173 |
Maximum Exposure To Loss From Continuing Involvement | 14 | 28 |
UBS AG | ||
Disclosure Of Continuing Involvement In Derecognised Financial Assets [Line Items] | ||
Fair Value Of Assets Representing Continuing Involvement In Derecognised Financial Assets | 8 | 5 |
Income From Continuing Involvement In Derecognised Financial Assets | 4 | 11 |
Expense From Continuing Involvement In Derecognised Financial Assets Cumulatively Recognised | 1,170 | 1,173 |
Maximum Exposure To Loss From Continuing Involvement | SFr 14 | SFr 28 |
Transferred financial assets183
Transferred financial assets that are derecognized in their entirety with continuing involvement (Narrative) (Detail 1.2) - Securitisations [Member] SFr in Millions | Dec. 31, 2017CHF (SFr) |
Disclosure Of Maturity Analysis Of Undiscounted Cash Outflows To Repurchase Derecognised Financial Assets Or Amounts Payable To Transferee In Respect Of Transferred Assets [Line Items] | |
Undiscounted cash outflows may be payable to the transferee | SFr 7 |
Not Later Than One Month [Member] | |
Disclosure Of Maturity Analysis Of Undiscounted Cash Outflows To Repurchase Derecognised Financial Assets Or Amounts Payable To Transferee In Respect Of Transferred Assets [Line Items] | |
Undiscounted cash outflows may be payable to the transferee | 7 |
UBS AG | |
Disclosure Of Maturity Analysis Of Undiscounted Cash Outflows To Repurchase Derecognised Financial Assets Or Amounts Payable To Transferee In Respect Of Transferred Assets [Line Items] | |
Undiscounted cash outflows may be payable to the transferee | 7 |
UBS AG | Not Later Than One Month [Member] | |
Disclosure Of Maturity Analysis Of Undiscounted Cash Outflows To Repurchase Derecognised Financial Assets Or Amounts Payable To Transferee In Respect Of Transferred Assets [Line Items] | |
Undiscounted cash outflows may be payable to the transferee | SFr 7 |
Off-balance sheet assets rec184
Off-balance sheet assets received (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Off Balance Sheet Assets Received [Line Items] | |||
Fair value of assets received that can be sold or repledged | SFr 469,132 | SFr 429,327 | |
received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative transactions and other transactions | [1] | 462,460 | 423,524 |
received in unsecured borrowings | 6,672 | 5,803 | |
Thereof sold or repledged | [2] | 337,514 | 316,323 |
in connection with financing activities | 293,295 | 277,341 | |
to satisfy commitments under short sale transactions | 30,463 | 22,824 | |
in connection with derivative and other transactions | [1] | 13,756 | 16,158 |
Off-balance sheet securities placed with central banks related to undrawn credit lines and for payment, clearing and settlement | 28,100 | 30,900 | |
UBS AG | |||
Off Balance Sheet Assets Received [Line Items] | |||
Fair value of assets received that can be sold or repledged | 469,132 | 429,327 | |
received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative transactions and other transactions | [3] | 462,460 | 423,524 |
received in unsecured borrowings | 6,672 | 5,803 | |
Thereof sold or repledged | [4] | 337,514 | 316,324 |
in connection with financing activities | 293,295 | 277,341 | |
to satisfy commitments under short sale transactions | 30,463 | 22,825 | |
in connection with derivative and other transactions | [3] | 13,756 | 16,158 |
Off-balance sheet securities placed with central banks related to undrawn credit lines and for payment, clearing and settlement | SFr 28,100 | SFr 30,900 | |
[1] | Includes securities received as initial margin from its clients that UBS is required to remit to CCPs, brokers and deposit banks through its exchange-traded derivative (ETD) clearing and execution services. | ||
[2] | Does not include off-balance sheet securities (31 December 2017: CHF 28.1 billion; 31 December 2016: CHF 30.9 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. | ||
[3] | Includes securities received as initial margin from its clients that UBS AG is required to remit to CCPs, brokers and deposit banks through its exchange-traded derivative (ETD) clearing and execution services. | ||
[4] | Does not include off-balance sheet securities (31 December 2017: CHF 28.1 billion; 31 December 2016: CHF 30.9 billion) placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes for which there are no associated liabilities or contingent liabilities. |
Offsetting financial assets (De
Offsetting financial assets (Detail) - CHF (SFr) SFr in Billions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Netting recognized on the balance sheet | |||
Gross assets before netting | SFr 280.5 | SFr 323.8 | |
Netting with gross liabilities | [1] | (79.9) | (89.1) |
Net assets recognized on the balance sheet | 200.6 | 234.7 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (102.7) | (130.3) |
Collateral received | [2] | (81.6) | (86.3) |
Assets after consideration of netting potential | [2] | 16.4 | 18.1 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 89.6 | 97.1 |
Assets | |||
Total assets after consideration of netting potential | 106 | 115.2 | |
Total assets recognized on the balance sheet | 290.2 | 331.8 | |
Decrease in gross assets and liabilities and corresponding netting after change to a settlement model | 11.4 | ||
Cash collateral on securities borrowed | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 3.7 | 4.2 | |
Netting with gross liabilities | [1] | 0 | 0 |
Net assets recognized on the balance sheet | 3.7 | 4.2 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (0.6) | (0.9) |
Collateral received | [2] | (3.1) | (3.3) |
Assets after consideration of netting potential | [2] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 8.7 | 10.9 |
Assets | |||
Total assets after consideration of netting potential | 8.7 | 10.9 | |
Total assets recognized on the balance sheet | 12.4 | 15.1 | |
Reverse repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 140.5 | 128.4 | |
Netting with gross liabilities | [1] | (76.8) | (71.5) |
Net assets recognized on the balance sheet | 63.7 | 56.9 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (6.9) | (2.1) |
Collateral received | [2] | (56.8) | (54.8) |
Assets after consideration of netting potential | [2] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 13.5 | 9.3 |
Assets | |||
Total assets after consideration of netting potential | 13.5 | 9.3 | |
Total assets recognized on the balance sheet | 77.2 | 66.2 | |
Positive replacement values | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 114.3 | 152.3 | |
Netting with gross liabilities | [1] | (2.1) | (2.5) |
Net assets recognized on the balance sheet | 112.2 | 149.8 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (83.5) | (113.1) |
Collateral received | [2] | (20.7) | (26.7) |
Assets after consideration of netting potential | [2] | 8 | 10 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 6 | 8.6 |
Assets | |||
Total assets after consideration of netting potential | 14 | 18.6 | |
Total assets recognized on the balance sheet | 118.2 | 158.4 | |
Cash collateral receivables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | [4] | 21.6 | 37.2 |
Netting with gross liabilities | [1],[4] | (1) | (15.1) |
Net assets recognized on the balance sheet | [4] | 20.6 | 22.1 |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2],[4] | (11.7) | (14.2) |
Collateral received | [2],[4] | (0.7) | (1) |
Assets after consideration of netting potential | [2],[4] | 8.1 | 7 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3],[4] | 2.9 | 4.5 |
Assets | |||
Total assets after consideration of netting potential | [4] | 11 | 11.5 |
Total assets recognized on the balance sheet | [4] | 23.4 | 26.7 |
Financial assets designated at fair value | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 0.4 | 1.7 | |
Netting with gross liabilities | [1] | 0 | 0 |
Net assets recognized on the balance sheet | 0.4 | 1.7 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | 0 | 0 |
Collateral received | [2] | (0.2) | (0.6) |
Assets after consideration of netting potential | [2] | 0.2 | 1.1 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 58.5 | 63.7 |
Assets | |||
Total assets after consideration of netting potential | 58.7 | 64.7 | |
Total assets recognized on the balance sheet | 58.9 | 65.4 | |
UBS AG | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 280.5 | 323.8 | |
Netting with gross liabilities | [1] | (79.9) | (89.1) |
Net assets recognized on the balance sheet | 200.6 | 234.7 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (102.7) | (130.3) |
Collateral received | [2] | (81.6) | (86.3) |
Assets after consideration of netting potential | [2] | 16.4 | 18.1 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 89.2 | 96.7 |
Assets | |||
Total assets after consideration of netting potential | 105.6 | 114.8 | |
Total assets recognized on the balance sheet | 289.9 | 331.5 | |
Decrease in gross assets and liabilities and corresponding netting after change to a settlement model | 11.4 | ||
UBS AG | Cash collateral on securities borrowed | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 3.7 | 4.2 | |
Netting with gross liabilities | [1] | 0 | 0 |
Net assets recognized on the balance sheet | 3.7 | 4.2 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (0.6) | (0.9) |
Collateral received | [2] | (3.1) | (3.3) |
Assets after consideration of netting potential | [2] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 8.7 | 10.9 |
Assets | |||
Total assets after consideration of netting potential | 8.7 | 10.9 | |
Total assets recognized on the balance sheet | 12.4 | 15.1 | |
UBS AG | Reverse repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 140.5 | 128.4 | |
Netting with gross liabilities | [1] | (76.8) | (71.5) |
Net assets recognized on the balance sheet | 63.7 | 56.9 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (6.9) | (2.1) |
Collateral received | [2] | (56.8) | (54.8) |
Assets after consideration of netting potential | [2] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 13.5 | 9.3 |
Assets | |||
Total assets after consideration of netting potential | 13.5 | 9.3 | |
Total assets recognized on the balance sheet | 77.2 | 66.2 | |
UBS AG | Positive replacement values | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 114.3 | 152.3 | |
Netting with gross liabilities | [1] | (2.1) | (2.5) |
Net assets recognized on the balance sheet | 112.2 | 149.8 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (83.5) | (113.1) |
Collateral received | [2] | (20.7) | (26.7) |
Assets after consideration of netting potential | [2] | 8 | 10 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 6 | 8.6 |
Assets | |||
Total assets after consideration of netting potential | 14 | 18.6 | |
Total assets recognized on the balance sheet | 118.2 | 158.4 | |
UBS AG | Cash collateral receivables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | [4] | 21.6 | 37.2 |
Netting with gross liabilities | [1],[4] | (1) | (15.1) |
Net assets recognized on the balance sheet | [4] | 20.6 | 22.1 |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2],[4] | (11.7) | (14.2) |
Collateral received | [2],[4] | (0.7) | (1) |
Assets after consideration of netting potential | [2],[4] | 8.1 | 7 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3],[4] | 2.9 | 4.5 |
Assets | |||
Total assets after consideration of netting potential | [4] | 11 | 11.5 |
Total assets recognized on the balance sheet | [4] | 23.4 | 26.7 |
UBS AG | Financial assets designated at fair value | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 0.4 | 1.7 | |
Netting with gross liabilities | [1] | 0 | 0 |
Net assets recognized on the balance sheet | 0.4 | 1.7 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | 0 | 0 |
Collateral received | [2] | (0.2) | (0.6) |
Assets after consideration of netting potential | [2] | 0.2 | 1.1 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 58.1 | 63.3 |
Assets | |||
Total assets after consideration of netting potential | 58.4 | 64.4 | |
Total assets recognized on the balance sheet | SFr 58.6 | SFr 65 | |
[1] | The logic of the table results in amounts presented in the “Netting with gross liabilities” column corresponding directly to the amounts presented in the “Netting with gross assets” column in the liabilities table presented on the following page. | ||
[2] | For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial assets presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. | ||
[3] | Includes assets not subject to enforceable netting arrangements and other out-of-scope items. | ||
[4] | The net amount of Cash collateral receivables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and ETD that are economically settled on a daily basis. Effective 3 January 2017, interest rate swaps and credit derivatives transacted with the Chicago Mercantile Exchange (CME) were legally converted from the previous collateral model to a settlement model resulting in a derecognition of the associated assets and liabilities. Previously, UBS applied IAS 32 netting principles to offset the fair value of CME interest rate swaps with the associated variation margin. Gross cash collateral receivables and payables on derivative instruments and corresponding IAS 32 netting, decreased by approximately CHF 13 billion as of 31 March 2017, with no change to net cash collateral receivables and payables on derivative instruments recognized and presented on the balance sheet. |
Offsetting financial liabilitie
Offsetting financial liabilities (Detail) - CHF (SFr) SFr in Billions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | SFr 233 | SFr 276.9 | |
Netting with gross assets | [1] | (79.9) | (89.1) |
Net liabilities recognized on the balance sheet | 153 | 187.9 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (107.3) | (137) |
Collateral pledged | [2] | (22.1) | (22.9) |
Liabilities after consideration of netting potential | [2] | 23.7 | 28 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 64.6 | 65.9 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 88.3 | 93.9 | |
Total liabilities recognized on the balance sheet | 217.6 | 253.7 | |
Decrease in gross assets and liabilities and corresponding netting after change to a settlement model | 11.4 | ||
Cash collateral on securities lent | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 1.7 | 2.6 | |
Netting with gross assets | [1] | 0 | 0 |
Net liabilities recognized on the balance sheet | 1.7 | 2.6 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (0.6) | (0.9) |
Collateral pledged | [2] | (1.2) | (1.7) |
Liabilities after consideration of netting potential | [2] | 0 | 0 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 0.1 | 0.2 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 0.1 | 0.2 | |
Total liabilities recognized on the balance sheet | 1.8 | 2.8 | |
Repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 88.4 | 76.7 | |
Netting with gross assets | [1] | (76.8) | (71.5) |
Net liabilities recognized on the balance sheet | 11.6 | 5.2 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (6.9) | (2.1) |
Collateral pledged | [2] | (4.7) | (3.1) |
Liabilities after consideration of netting potential | [2] | 0 | 0 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 3.6 | 1.4 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 3.6 | 1.4 | |
Total liabilities recognized on the balance sheet | 15.3 | 6.6 | |
Negative replacement values | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 111.4 | 146.3 | |
Netting with gross assets | [1] | (2.1) | (2.5) |
Net liabilities recognized on the balance sheet | 109.4 | 143.9 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (83.5) | (113.1) |
Collateral pledged | [2] | (15) | (16.6) |
Liabilities after consideration of netting potential | [2] | 10.9 | 14.2 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 6.8 | 10 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 17.7 | 24.2 | |
Total liabilities recognized on the balance sheet | 116.1 | 153.8 | |
Cash collateral payables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | [4] | 29.5 | 48.5 |
Netting with gross assets | [1],[4] | (1) | (15.1) |
Net liabilities recognized on the balance sheet | [4] | 28.4 | 33.4 |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2],[4] | (16.3) | (20.8) |
Collateral pledged | [2],[4] | (1.2) | (1.4) |
Liabilities after consideration of netting potential | [2],[4] | 11 | 11.2 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3],[4] | 1.8 | 2.1 |
Total liabilities | |||
Total liabilities after consideration of netting potential | [4] | 12.8 | 13.3 |
Total liabilities recognized on the balance sheet | [4] | 30.2 | 35.5 |
Financial liabilities designated at fair value | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 1.9 | 2.8 | |
Netting with gross assets | [1] | 0 | 0 |
Net liabilities recognized on the balance sheet | 1.9 | 2.8 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | 0 | 0 |
Collateral pledged | [2] | (0.1) | (0.2) |
Liabilities after consideration of netting potential | [2] | 1.8 | 2.6 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 52.3 | 52.2 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 54.1 | 54.8 | |
Total liabilities recognized on the balance sheet | 54.2 | 55 | |
UBS AG | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 233 | 276.9 | |
Netting with gross assets | [1] | (79.9) | (89.1) |
Net liabilities recognized on the balance sheet | 153 | 187.9 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (107.3) | (137) |
Collateral pledged | [2] | (22.1) | (22.9) |
Liabilities after consideration of netting potential | [2] | 23.7 | 28 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 64.6 | 65.9 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 88.3 | 93.9 | |
Total liabilities recognized on the balance sheet | 217.6 | 253.7 | |
Decrease in gross assets and liabilities and corresponding netting after change to a settlement model | 11.4 | ||
UBS AG | Cash collateral on securities lent | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 1.7 | 2.6 | |
Netting with gross assets | [1] | 0 | 0 |
Net liabilities recognized on the balance sheet | 1.7 | 2.6 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (0.6) | (0.9) |
Collateral pledged | [2] | (1.2) | (1.7) |
Liabilities after consideration of netting potential | [2] | 0 | 0 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 0.1 | 0.2 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 0.1 | 0.2 | |
Total liabilities recognized on the balance sheet | 1.8 | 2.8 | |
UBS AG | Repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 88.4 | 76.7 | |
Netting with gross assets | [1] | (76.8) | (71.5) |
Net liabilities recognized on the balance sheet | 11.6 | 5.2 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (6.9) | (2.1) |
Collateral pledged | [2] | (4.7) | (3.1) |
Liabilities after consideration of netting potential | [2] | 0 | 0 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 3.6 | 1.4 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 3.6 | 1.4 | |
Total liabilities recognized on the balance sheet | 15.3 | 6.6 | |
UBS AG | Negative replacement values | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 111.4 | 146.3 | |
Netting with gross assets | [1] | (2.1) | (2.5) |
Net liabilities recognized on the balance sheet | 109.4 | 143.9 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (83.5) | (113.1) |
Collateral pledged | [2] | (15) | (16.6) |
Liabilities after consideration of netting potential | [2] | 10.9 | 14.2 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 6.8 | 10 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 17.7 | 24.2 | |
Total liabilities recognized on the balance sheet | 116.1 | 153.8 | |
UBS AG | Cash collateral payables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | [4] | 29.5 | 48.5 |
Netting with gross assets | [1],[4] | (1) | (15.1) |
Net liabilities recognized on the balance sheet | [4] | 28.4 | 33.4 |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2],[4] | (16.3) | (20.8) |
Collateral pledged | [2],[4] | (1.2) | (1.4) |
Liabilities after consideration of netting potential | [2],[4] | 11 | 11.2 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3],[4] | 1.8 | 2.1 |
Total liabilities | |||
Total liabilities after consideration of netting potential | [4] | 12.8 | 13.3 |
Total liabilities recognized on the balance sheet | [4] | 30.2 | 35.5 |
UBS AG | Financial liabilities designated at fair value | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 1.9 | 2.8 | |
Netting with gross assets | [1] | 0 | 0 |
Net liabilities recognized on the balance sheet | 1.9 | 2.8 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | 0 | 0 |
Collateral pledged | [2] | (0.1) | (0.2) |
Liabilities after consideration of netting potential | [2] | 1.8 | 2.6 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 52.3 | 52.2 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 54.1 | 54.8 | |
Total liabilities recognized on the balance sheet | SFr 54.2 | SFr 55 | |
[1] | The logic of the table results in amounts presented in the “Netting with gross assets” column corresponding directly to the amounts presented in the “Netting with gross liabilities” column in the assets table presented on the previous page. | ||
[2] | For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped by the relevant netting agreement so as not to exceed the net amount of financial liabilities presented on the balance sheet; i.e., over-collateralization, where it exists, is not reflected in the table. | ||
[3] | Includes liabilities not subject to enforceable netting arrangements and other out-of-scope items. | ||
[4] | The net amount of Cash collateral payables on derivative instruments recognized on the balance sheet includes certain OTC derivatives that are net settled on a daily basis either legally or in substance under IAS 32 principles and ETD that are economically settled on a daily basis. |
Measurement categories, cred187
Measurement categories, credit risk and maturity analysis of financial instruments (Detail 1.1) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Held for trading | |||
Trading portfolio assets | [1] | SFr 126,144 | SFr 92,025 |
Due to customers | [1],[2] | 7 | 12 |
Debt issued | [1],[2] | 10 | 38 |
Positive replacement values | [1],[3],[4],[5] | 118,227 | 158,411 |
Financial assets at fair value through profit or loss classified as held for trading | [1] | 244,388 | 250,486 |
Fair value through profit or loss | |||
Financial assets designated at fair value | [1] | 58,933 | 65,353 |
Other assets | [1] | 122 | 131 |
Total | [1] | 59,055 | 65,483 |
Financial assets at amortized cost | |||
Cash and balances with central banks | [1] | 87,775 | 107,767 |
Due from banks | [1] | 13,739 | 13,156 |
Cash collateral on securities borrowed | [1] | 12,393 | 15,111 |
Reverse repurchase agreements | [1] | 77,240 | 66,246 |
Cash collateral receivables on derivative instruments | [1] | 23,434 | 26,664 |
Loans | [1],[6] | 319,568 | 306,325 |
Financial assets held to maturity | [1] | 9,166 | 9,289 |
Other assets | [1] | 27,913 | 18,504 |
Total | [1] | 571,226 | 563,063 |
Available for sale | |||
Financial assets available for sale | [1],[7] | 8,665 | 15,676 |
Total financial assets | [1] | 883,335 | 894,709 |
Current loans | 134,000 | 126,000 | |
Current due from banks | 0 | 0 | |
Current reverse repurchase agreements | 2,000 | 1,000 | |
Current financial assets available for sale | 7,000 | 10,000 | |
Current financial assets designated at fair value | 24,000 | 29,000 | |
Current financial assets held to maturity | 7,000 | 8,000 | |
Finance lease receivables | 1,100 | 1,000 | |
UBS AG | |||
Held for trading | |||
Trading portfolio assets | [1] | 126,244 | 92,112 |
Due to customers | [1],[2] | 7 | 12 |
Debt issued | [1],[2] | 10 | 38 |
Positive replacement values | [1],[3],[4],[5] | 118,229 | 158,411 |
Financial assets at fair value through profit or loss classified as held for trading | [1] | 244,489 | 250,572 |
Fair value through profit or loss | |||
Financial assets designated at fair value | [1] | 58,556 | 65,024 |
Other assets | [1] | 122 | 131 |
Total | [1] | 58,678 | 65,155 |
Financial assets at amortized cost | |||
Cash and balances with central banks | [1] | 87,775 | 107,767 |
Due from banks | [1] | 13,693 | 13,125 |
Cash collateral on securities borrowed | [1] | 12,393 | 15,111 |
Reverse repurchase agreements | [1] | 77,240 | 66,246 |
Cash collateral receivables on derivative instruments | [1] | 23,434 | 26,664 |
Loans | [1],[6] | 321,718 | 307,004 |
Financial assets held to maturity | [1] | 9,166 | 9,289 |
Other assets | [1] | 27,986 | 18,519 |
Total | [1] | 573,405 | 563,727 |
Available for sale | |||
Financial assets available for sale | [1],[7] | 8,665 | 15,676 |
Total financial assets | [1] | 885,237 | 895,131 |
Current loans | 134,000 | 126,000 | |
Current due from banks | 0 | 0 | |
Current reverse repurchase agreements | 2,000 | 1,000 | |
Current financial assets available for sale | 7,000 | 10,000 | |
Current financial assets designated at fair value | 24,000 | 29,000 | |
Current financial assets held to maturity | 7,000 | 8,000 | |
Finance lease receivables | SFr 1,100 | SFr 1,000 | |
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | ||
[2] | Represents the embedded derivative component of structured financial instruments for which the fair value option has not been applied and that is presented within Due to customers and Debt issued on the balance sheet. | ||
[3] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. | ||
[4] | PRV: Positive replacement value. | ||
[5] | Refer to Note 24 for more information on netting arrangements. | ||
[6] | Includes finance lease receivables of CHF 1.1 billion as of 31 December 2017 (31 December 2016: CHF 1.0 billion). Refer to Notes 10 and 31 for more information. | ||
[7] | Refer to Note 22c for more information on product type and fair value hierarchy categorization. |
Measurement categories, cred188
Measurement categories, credit risk and maturity analysis of financial instruments (Detail 1.2) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | ||
Held for trading | ||||
Trading portfolio liabilities | SFr 30,463 | [1],[2],[3],[4] | SFr 22,824 | |
Negative replacement values | [5],[6],[7] | 116,133 | [1],[3],[4] | 153,810 |
Total | 146,597 | 176,634 | ||
Fair value through profit or loss | ||||
Financial liabilities designated at fair value | 54,202 | 55,017 | ||
Amounts due under unit-linked investment contracts | 11,523 | 9,286 | ||
Financial Liabilities At Amortised Cost [Abstract] | ||||
Due to banks | 7,533 | [3],[4] | 10,645 | |
Cash collateral on securities lent | 1,789 | [3],[4] | 2,818 | |
Repurchase agreements | 15,255 | [3],[4] | 6,612 | |
Cash collateral payables on derivative instruments | 30,247 | [3],[4] | 35,472 | |
UBS AG | ||||
Held for trading | ||||
Trading portfolio liabilities | 30,463 | [1],[2],[3],[4] | 22,825 | |
Negative replacement values | [5],[6],[7] | 116,134 | [1],[3],[4] | 153,810 |
Total | 146,598 | 176,635 | ||
Fair value through profit or loss | ||||
Financial liabilities designated at fair value | 54,202 | 55,017 | ||
Amounts due under unit-linked investment contracts | 11,523 | 9,286 | ||
Financial Liabilities At Amortised Cost [Abstract] | ||||
Due to banks | 7,533 | [3],[4] | 10,645 | |
Cash collateral on securities lent | 1,789 | [3],[4] | 2,818 | |
Repurchase agreements | 15,255 | [3],[4] | 6,612 | |
Cash collateral payables on derivative instruments | SFr 30,247 | [3],[4] | SFr 35,472 | |
[1] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | |||
[2] | Contractual maturities of trading portfolio liabilities are: CHF 29.5 billion due within one month (2016: CHF 21.8 billion), CHF 0.8 billion due between one month and one year (2016: CHF 1.0 billion) and CHF 0.1 billion due between 1 and 5 years (2016: CHF 0.1 billion). | |||
[3] | Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. | |||
[4] | Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. | |||
[5] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. | |||
[6] | NRV: Negative replacement value. | |||
[7] | Refer to Note 24 for more information on netting arrangements. |
Measurement categories, cred189
Measurement categories, credit risk and maturity analysis of financial instruments (Detail 2) - CHF (SFr) SFr in Billions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | SFr 849.1 | SFr 903.7 | |
Collateral | |||
Cash collateral received | 17.2 | 18.9 | |
Collateralized by securities | 247.1 | 210.9 | |
Secured by real estate | 161.3 | 159.4 | |
Other collateral | [1] | 30.8 | 28.4 |
Credit enhancements | |||
Netting | 112.7 | 149.6 | |
Credit derivative contracts | 1.1 | 5.7 | |
Guarantees | 5.8 | 6.8 | |
Exposure to credit risk after collateral and credit enhancements | 273.2 | 324 | |
Increase in loans collateralized by cash due to alignment of collateral allocation process | 4.5 | ||
Decrease in loans secured by securities due to alignment of collateral allocation process | 4.5 | ||
Total maximum exposure to credit risk reflected on the balance sheet | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 778.5 | 822.4 | |
Collateral | |||
Cash collateral received | 16.1 | 17.4 | |
Collateralized by securities | 229.8 | 194.9 | |
Secured by real estate | 160.1 | 158.2 | |
Other collateral | [1] | 20.1 | 17.7 |
Credit enhancements | |||
Netting | 112.7 | 149.6 | |
Credit derivative contracts | 0 | 0.7 | |
Guarantees | 1.3 | 1.8 | |
Exposure to credit risk after collateral and credit enhancements | 238.4 | 282.1 | |
Total financial assets measured at amortized cost | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 568.4 | 562.5 | |
Collateral | |||
Cash collateral received | 16.1 | 17.4 | |
Collateralized by securities | 216 | 186.9 | |
Secured by real estate | 160.1 | 158.2 | |
Other collateral | [1] | 20.1 | 17.7 |
Credit enhancements | |||
Netting | 12.5 | 15.1 | |
Credit derivative contracts | 0 | 0.1 | |
Guarantees | 1.3 | 1.8 | |
Exposure to credit risk after collateral and credit enhancements | 142.3 | 165.2 | |
Balances with central banks | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 87.1 | 107.1 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 87.1 | 107.1 | |
Due from banks | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [2] | 13.7 | 13.2 |
Collateral | |||
Collateralized by securities | [2] | 0.1 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | [2] | 13.6 | 13.2 |
Cash collateral on securities borrowed | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 12.4 | 15.1 | |
Collateral | |||
Collateralized by securities | 12.2 | 14.8 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 0.2 | 0.3 | |
Reverse repurchase agreements | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 77.2 | 66.2 | |
Collateral | |||
Collateralized by securities | 72.8 | 62.5 | |
Other collateral | [1] | 4.2 | 3.2 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 0.2 | 0.5 | |
Cash collateral receivables on derivative instruments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [3],[4] | 23.4 | 26.7 |
Credit enhancements | |||
Netting | [3],[4] | 12.5 | 15.1 |
Exposure to credit risk after collateral and credit enhancements | [3],[4] | 11 | 11.5 |
Loans | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [5] | 319.6 | 306.3 |
Collateral | |||
Cash collateral received | [5] | 16.1 | 17.4 |
Collateralized by securities | [5] | 111.4 | 99.6 |
Secured by real estate | [5] | 160.1 | 158.2 |
Other collateral | [1],[5] | 15.9 | 14.6 |
Credit enhancements | |||
Credit derivative contracts | [5] | 0 | 0.1 |
Guarantees | [5] | 1.3 | 1.8 |
Exposure to credit risk after collateral and credit enhancements | [5] | 14.8 | 14.6 |
Financial assets held to maturity | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 9.2 | 9.3 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 9.2 | 9.3 | |
Other assets | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 25.8 | 18.6 | |
Collateral | |||
Collateralized by securities | 19.5 | 10 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 6.3 | 8.7 | |
Total financial assets measured at fair value | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 210.1 | 259.9 | |
Collateral | |||
Cash collateral received | 0 | 0 | |
Collateralized by securities | 13.8 | 7.9 | |
Secured by real estate | 0 | 0 | |
Other collateral | [1] | 0 | 0 |
Credit enhancements | |||
Netting | 100.2 | 134.5 | |
Credit derivative contracts | 0 | 0.6 | |
Guarantees | 0 | 0 | |
Exposure to credit risk after collateral and credit enhancements | 96.1 | 116.9 | |
Positive replacement values | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [4] | 118.2 | 158.4 |
Collateral | |||
Collateralized by securities | [4] | 4 | 5.3 |
Credit enhancements | |||
Netting | [4] | 100.2 | 134.5 |
Exposure to credit risk after collateral and credit enhancements | [4] | 14 | 18.6 |
Trading portfolio assets - debt instruments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [6],[7] | 25.6 | 21.8 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | [6],[7] | 25.6 | 21.8 |
Financial assets designated at fair value - debt instruments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [8] | 58.4 | 64.8 |
Collateral | |||
Collateralized by securities | [8] | 9.8 | 2.6 |
Credit enhancements | |||
Credit derivative contracts | [8] | 0.6 | |
Exposure to credit risk after collateral and credit enhancements | [8] | 48.5 | 61.6 |
Financial assets available for sale - debt instruments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 7.9 | 14.9 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | [8] | 7.9 | 14.9 |
Total maximum exposure to credit risk not reflected on the balance sheet | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 70.6 | 81.3 | |
Collateral | |||
Cash collateral received | 1 | 1.5 | |
Collateralized by securities | 17.4 | 16.1 | |
Secured by real estate | 1.2 | 1.1 | |
Other collateral | [1] | 10.7 | 10.6 |
Credit enhancements | |||
Netting | 0 | 0 | |
Credit derivative contracts | 1 | 4.9 | |
Guarantees | 4.4 | 5.1 | |
Exposure to credit risk after collateral and credit enhancements | 34.8 | 41.9 | |
Guarantees | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [9] | 18.8 | 16.7 |
Collateral | |||
Cash collateral received | [9] | 1 | 1.4 |
Collateralized by securities | [9] | 2.1 | 2 |
Secured by real estate | [9] | 0.2 | 0.2 |
Other collateral | [1],[9] | 1.2 | 1.2 |
Credit enhancements | |||
Credit derivative contracts | [9] | 0.1 | |
Guarantees | [9] | 3 | 3 |
Exposure to credit risk after collateral and credit enhancements | [9] | 11.3 | 8.8 |
Loan commitments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [9] | 39.1 | 54.4 |
Collateral | |||
Cash collateral received | [9] | 0.1 | |
Collateralized by securities | [9] | 2.8 | 3.9 |
Secured by real estate | [9] | 1.1 | 1 |
Other collateral | [1],[9] | 9.5 | 9.5 |
Credit enhancements | |||
Credit derivative contracts | [9] | 1 | 4.8 |
Guarantees | [9] | 1.4 | 2 |
Exposure to credit risk after collateral and credit enhancements | [9] | 23.3 | 33.1 |
Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 12.7 | 10.2 | |
Collateral | |||
Collateralized by securities | 12.4 | 10.2 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 0.3 | 0 | |
UBS AG | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 851.4 | 904.5 | |
Collateral | |||
Cash collateral received | 18.9 | 19.4 | |
Collateralized by securities | 247.1 | 210.9 | |
Secured by real estate | 161.3 | 159.4 | |
Other collateral | [1] | 30.8 | 28.4 |
Credit enhancements | |||
Netting | 112.7 | 149.6 | |
Credit derivative contracts | 1.1 | 5.7 | |
Guarantees | 5.8 | 6.8 | |
Exposure to credit risk after collateral and credit enhancements | 273.7 | 324.3 | |
Increase in loans collateralized by cash due to alignment of collateral allocation process | 4.5 | ||
Decrease in loans secured by securities due to alignment of collateral allocation process | 4.5 | ||
UBS AG | Total maximum exposure to credit risk reflected on the balance sheet | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 780.8 | 823.2 | |
Collateral | |||
Cash collateral received | 17.9 | 17.9 | |
Collateralized by securities | 229.8 | 194.9 | |
Secured by real estate | 160.1 | 158.2 | |
Other collateral | [1] | 20.1 | 17.7 |
Credit enhancements | |||
Netting | 112.7 | 149.6 | |
Credit derivative contracts | 0 | 0.7 | |
Guarantees | 1.3 | 1.8 | |
Exposure to credit risk after collateral and credit enhancements | 238.9 | 282.3 | |
UBS AG | Total financial assets measured at amortized cost | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 570.6 | 563.2 | |
Collateral | |||
Cash collateral received | 17.9 | 17.9 | |
Collateralized by securities | 216 | 186.9 | |
Secured by real estate | 160.1 | 158.2 | |
Other collateral | [1] | 20.1 | 17.7 |
Credit enhancements | |||
Netting | 12.5 | 15.1 | |
Credit derivative contracts | 0 | 0.1 | |
Guarantees | 1.3 | 1.8 | |
Exposure to credit risk after collateral and credit enhancements | 142.7 | 165.3 | |
UBS AG | Balances with central banks | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 87.1 | 107.1 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 87.1 | 107.1 | |
UBS AG | Due from banks | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [2] | 13.7 | 13.1 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | [2] | 13.6 | 13.1 |
UBS AG | Cash collateral on securities borrowed | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 12.4 | 15.1 | |
Collateral | |||
Collateralized by securities | 12.2 | 14.8 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 0.2 | 0.3 | |
UBS AG | Reverse repurchase agreements | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 77.2 | 66.2 | |
Collateral | |||
Collateralized by securities | 72.8 | 62.5 | |
Other collateral | [1] | 4.2 | 3.2 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 0.2 | 0.5 | |
UBS AG | Cash collateral receivables on derivative instruments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [3],[4] | 23.4 | 26.7 |
Credit enhancements | |||
Netting | [3],[4] | 12.5 | 15.1 |
Exposure to credit risk after collateral and credit enhancements | [3],[4] | 11 | 11.5 |
UBS AG | Loans | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [5] | 321.7 | 307 |
Collateral | |||
Cash collateral received | [5] | 17.9 | 17.9 |
Collateralized by securities | [5] | 111.4 | 99.6 |
Secured by real estate | [5] | 160.1 | 158.2 |
Other collateral | [1],[5] | 15.9 | 14.6 |
Credit enhancements | |||
Credit derivative contracts | [5] | 0 | 0.1 |
Guarantees | [5] | 1.3 | 1.8 |
Exposure to credit risk after collateral and credit enhancements | [5] | 15.1 | 14.8 |
UBS AG | Financial assets held to maturity | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 9.2 | 9.3 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 9.2 | 9.3 | |
UBS AG | Other assets | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 25.8 | 18.6 | |
Collateral | |||
Collateralized by securities | 19.5 | 10 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 6.3 | 8.7 | |
UBS AG | Total financial assets measured at fair value | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 210.2 | 260 | |
Collateral | |||
Cash collateral received | 0 | 0 | |
Collateralized by securities | 13.8 | 7.9 | |
Secured by real estate | 0 | 0 | |
Other collateral | [1] | 0 | 0 |
Credit enhancements | |||
Netting | 100.2 | 134.5 | |
Credit derivative contracts | 0 | 0.6 | |
Guarantees | 0 | 0 | |
Exposure to credit risk after collateral and credit enhancements | 96.2 | 117 | |
UBS AG | Positive replacement values | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [4] | 118.2 | 158.4 |
Collateral | |||
Collateralized by securities | [4] | 4 | 5.3 |
Credit enhancements | |||
Netting | [4] | 100.2 | 134.5 |
Exposure to credit risk after collateral and credit enhancements | [4] | 14 | 18.6 |
UBS AG | Trading portfolio assets - debt instruments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [6],[7] | 25.7 | 21.9 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | [6],[7] | 25.7 | 21.9 |
UBS AG | Financial assets designated at fair value - debt instruments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [8] | 58.4 | 64.8 |
Collateral | |||
Collateralized by securities | [8] | 9.8 | 2.6 |
Credit enhancements | |||
Credit derivative contracts | [8] | 0 | 0.6 |
Exposure to credit risk after collateral and credit enhancements | [8] | 48.5 | 61.6 |
UBS AG | Financial assets available for sale - debt instruments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 7.9 | 14.9 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | [8] | 7.9 | 14.9 |
UBS AG | Total maximum exposure to credit risk not reflected on the balance sheet | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 70.6 | 81.3 | |
Collateral | |||
Cash collateral received | 1 | 1.5 | |
Collateralized by securities | 17.4 | 16.1 | |
Secured by real estate | 1.2 | 1.1 | |
Other collateral | [1] | 10.7 | 10.6 |
Credit enhancements | |||
Netting | 0 | 0 | |
Credit derivative contracts | 1 | 4.9 | |
Guarantees | 4.4 | 5.1 | |
Exposure to credit risk after collateral and credit enhancements | 34.8 | 41.9 | |
UBS AG | Guarantees | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [9] | 18.8 | 16.7 |
Collateral | |||
Cash collateral received | [9] | 1 | 1.4 |
Collateralized by securities | [9] | 2.1 | 2 |
Secured by real estate | [9] | 0.2 | 0.2 |
Other collateral | [1],[9] | 1.2 | 1.2 |
Credit enhancements | |||
Credit derivative contracts | [9] | 0 | 0.1 |
Guarantees | [9] | 3 | 3 |
Exposure to credit risk after collateral and credit enhancements | [9] | 11.3 | 8.8 |
UBS AG | Loan commitments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | [9] | 39.1 | 54.4 |
Collateral | |||
Cash collateral received | [9] | 0 | 0.1 |
Collateralized by securities | [9] | 2.8 | 3.9 |
Secured by real estate | [9] | 1.1 | 1 |
Other collateral | [1],[9] | 9.5 | 9.5 |
Credit enhancements | |||
Credit derivative contracts | [9] | 1 | 4.8 |
Guarantees | [9] | 1.4 | 2 |
Exposure to credit risk after collateral and credit enhancements | [9] | 23.3 | 33.1 |
UBS AG | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Maximum exposure to credit risk | 12.7 | 10.2 | |
Collateral | |||
Collateralized by securities | 10.2 | ||
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | SFr 0.2 | SFr 0 | |
[1] | Includes but is not limited to life insurance contracts, inventory, accounts receivable, mortgage loans, patents and copyrights. | ||
[2] | Due from banks includes amounts held with third-party banks on behalf of clients. The credit risk associated with these balances may be borne by those clients. | ||
[3] | Included within Cash collateral receivables on derivative instruments are margin balances due from exchanges or clearing houses. Some of these margin balances reflect amounts transferred on behalf of clients who retain the associated credit risk. | ||
[4] | The amount shown in the netting column represents the netting potential not recognized on the balance sheet. Refer to Note 24 for more information. | ||
[5] | Collateral arrangements generally incorporate a range of collateral, including cash, securities, property and other collateral. In 2017, we further aligned our collateral allocation processes within Wealth Management Americas to prioritize collateral mainly according to its liquidity profile. This change resulted in increases in loans secured by cash and decreases in loans secured by securities of CHF 4.5 billion. | ||
[6] | Does not include debt instruments held for unit-linked investment contracts and investment fund units. | ||
[7] | These positions are generally managed under the market risk framework. For the purpose of this disclosure, collateral and credit enhancements were not considered. | ||
[8] | Does not include investment fund units. Financial assets designated at fair value collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. | ||
[9] | The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to the “Treasury management” section of this report for more information. |
Measurement categories, cred190
Measurement categories, credit risk and maturity analysis of financial instruments (Detail 3) - CHF (SFr) SFr in Billions | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | SFr 849.1 | SFr 903.7 |
Balances with central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 87.1 | 107.1 |
Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 13.7 | 13.2 |
Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 89.6 | 81.4 |
Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 118.2 | 158.4 |
Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 23.4 | 26.7 |
Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 25.6 | 21.8 |
Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 319.6 | 306.3 |
Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 58.4 | 64.8 |
Financial assets available for sale - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 7.9 | 14.9 |
Financial assets held to maturity | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 9.2 | 9.3 |
Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 25.8 | 18.6 |
Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 18.8 | 16.7 |
Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 39.1 | 54.4 |
Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 12.7 | 10.2 |
Rating category 0-1 | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 201.7 | 277.4 |
Rating category 0-1 | Balances with central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 86.6 | 106.2 |
Rating category 0-1 | Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.6 | 0.6 |
Rating category 0-1 | Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 24.3 | 29.2 |
Rating category 0-1 | Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 17 | 19.6 |
Rating category 0-1 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 6.5 | 6.4 |
Rating category 0-1 | Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 10.3 | 9 |
Rating category 0-1 | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 3.2 | 31.7 |
Rating category 0-1 | Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 33.8 | 48.4 |
Rating category 0-1 | Financial assets available for sale - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 6.8 | 12.7 |
Rating category 0-1 | Financial assets held to maturity | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 8.5 | 8.4 |
Rating category 0-1 | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.1 | 0.1 |
Rating category 0-1 | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 2 | 2 |
Rating category 0-1 | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 1.9 | 2.4 |
Rating category 0-1 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.6 | |
Rating category 2-3 | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 354.9 | 330.9 |
Rating category 2-3 | Balances with central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.5 | 0.9 |
Rating category 2-3 | Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 10.6 | 9.7 |
Rating category 2-3 | Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 36.4 | 24.5 |
Rating category 2-3 | Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 75.3 | 96.9 |
Rating category 2-3 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 9.7 | 12.2 |
Rating category 2-3 | Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 7.3 | 6.8 |
Rating category 2-3 | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 161.8 | 127.2 |
Rating category 2-3 | Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 14.2 | 12.6 |
Rating category 2-3 | Financial assets available for sale - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 1 | 1.8 |
Rating category 2-3 | Financial assets held to maturity | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.7 | 0.9 |
Rating category 2-3 | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.4 | 2 |
Rating category 2-3 | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 9.1 | 6.4 |
Rating category 2-3 | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 15.4 | 19.5 |
Rating category 2-3 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 12.7 | 9.4 |
Rating category 4-5 | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 134.8 | 157.1 |
Rating category 4-5 | Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 1.4 | 2 |
Rating category 4-5 | Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 16.8 | 20.1 |
Rating category 4-5 | Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 19.4 | 34.2 |
Rating category 4-5 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 5.6 | 6.4 |
Rating category 4-5 | Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 3 | 2.9 |
Rating category 4-5 | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 65.4 | 63.1 |
Rating category 4-5 | Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 1.5 | 1 |
Rating category 4-5 | Financial assets available for sale - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 0.2 | |
Rating category 4-5 | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 8.3 | 6.2 |
Rating category 4-5 | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 4.1 | 3.7 |
Rating category 4-5 | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 9.4 | 17.1 |
Rating category 4-5 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.3 | |
Rating category 6-8 | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 116.5 | 103.5 |
Rating category 6-8 | Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.9 | 0.5 |
Rating category 6-8 | Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 10.4 | 6.9 |
Rating category 6-8 | Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 6.2 | 7.4 |
Rating category 6-8 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 1.6 | 1.6 |
Rating category 6-8 | Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 2 | 1.7 |
Rating category 6-8 | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 70 | 63.6 |
Rating category 6-8 | Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 0.8 | 1.6 |
Rating category 6-8 | Financial assets available for sale - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 0.1 | 0.1 |
Rating category 6-8 | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 15.9 | 7.7 |
Rating category 6-8 | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 2.7 | 3.6 |
Rating category 6-8 | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 5.8 | 8.7 |
Rating category 9-13 | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 39.1 | 32.7 |
Rating category 9-13 | Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.3 | 0.3 |
Rating category 9-13 | Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 1.8 | 0.7 |
Rating category 9-13 | Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.3 | 0.4 |
Rating category 9-13 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.1 | 0.2 |
Rating category 9-13 | Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 3 | 1.3 |
Rating category 9-13 | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 17.6 | 19.1 |
Rating category 9-13 | Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 8 | 1.3 |
Rating category 9-13 | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.8 | 2.2 |
Rating category 9-13 | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.8 | 0.7 |
Rating category 9-13 | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 6.5 | 6.5 |
Rating category Defaulted | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 2 | 2.2 |
Rating category Defaulted | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 1.5 | 1.6 |
Rating category Defaulted | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.3 | 0.3 |
Rating category Defaulted | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.2 | 0.3 |
Rating category Defaulted | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.1 | |
UBS AG | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 851.4 | 904.5 |
UBS AG | Balances with central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 87.1 | 107.1 |
UBS AG | Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 13.7 | 13.1 |
UBS AG | Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 89.6 | 81.4 |
UBS AG | Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 118.2 | 158.4 |
UBS AG | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 23.4 | 26.7 |
UBS AG | Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 25.7 | 21.9 |
UBS AG | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 321.7 | 307 |
UBS AG | Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 58.4 | 64.8 |
UBS AG | Financial assets available for sale - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 7.9 | 14.9 |
UBS AG | Financial assets held to maturity | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 9.2 | 9.3 |
UBS AG | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 25.8 | 18.6 |
UBS AG | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 18.8 | 16.7 |
UBS AG | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 39.1 | 54.4 |
UBS AG | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 12.7 | 10.2 |
UBS AG | Rating category 0-1 | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 201.7 | 277.4 |
UBS AG | Rating category 0-1 | Balances with central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 86.6 | 106.2 |
UBS AG | Rating category 0-1 | Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.6 | 0.6 |
UBS AG | Rating category 0-1 | Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 24.3 | 29.2 |
UBS AG | Rating category 0-1 | Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 17 | 19.6 |
UBS AG | Rating category 0-1 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 6.5 | 6.4 |
UBS AG | Rating category 0-1 | Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 10.3 | 9 |
UBS AG | Rating category 0-1 | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 3.2 | 31.7 |
UBS AG | Rating category 0-1 | Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 33.8 | 48.4 |
UBS AG | Rating category 0-1 | Financial assets available for sale - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 6.8 | 12.7 |
UBS AG | Rating category 0-1 | Financial assets held to maturity | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 8.5 | 8.4 |
UBS AG | Rating category 0-1 | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.1 | 0.1 |
UBS AG | Rating category 0-1 | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 2 | 2 |
UBS AG | Rating category 0-1 | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 1.9 | 2.4 |
UBS AG | Rating category 0-1 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.6 | |
UBS AG | Rating category 2-3 | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 356.8 | 331.6 |
UBS AG | Rating category 2-3 | Balances with central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.5 | 0.9 |
UBS AG | Rating category 2-3 | Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 10.6 | 9.7 |
UBS AG | Rating category 2-3 | Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 36.4 | 24.5 |
UBS AG | Rating category 2-3 | Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 75.3 | 96.9 |
UBS AG | Rating category 2-3 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 9.7 | 12.2 |
UBS AG | Rating category 2-3 | Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 7.4 | 6.9 |
UBS AG | Rating category 2-3 | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 163.6 | 127.8 |
UBS AG | Rating category 2-3 | Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 14.2 | 12.6 |
UBS AG | Rating category 2-3 | Financial assets available for sale - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 1 | 1.8 |
UBS AG | Rating category 2-3 | Financial assets held to maturity | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.7 | 0.9 |
UBS AG | Rating category 2-3 | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.4 | 2.1 |
UBS AG | Rating category 2-3 | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 9.1 | 6.4 |
UBS AG | Rating category 2-3 | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 15.4 | 19.5 |
UBS AG | Rating category 2-3 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 12.7 | 9.4 |
UBS AG | Rating category 4-5 | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 135.2 | 157.2 |
UBS AG | Rating category 4-5 | Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 1.4 | 2 |
UBS AG | Rating category 4-5 | Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 16.8 | 20.1 |
UBS AG | Rating category 4-5 | Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 19.4 | 34.2 |
UBS AG | Rating category 4-5 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 5.6 | 6.4 |
UBS AG | Rating category 4-5 | Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 3 | 2.9 |
UBS AG | Rating category 4-5 | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 65.7 | 63.2 |
UBS AG | Rating category 4-5 | Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 1.5 | 1 |
UBS AG | Rating category 4-5 | Financial assets available for sale - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 0.2 | |
UBS AG | Rating category 4-5 | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 8.4 | 6.2 |
UBS AG | Rating category 4-5 | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 4.1 | 3.7 |
UBS AG | Rating category 4-5 | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 9.4 | 17.1 |
UBS AG | Rating category 4-5 | Forward starting transactions, reverse repurchase and securities borrowing agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.3 | |
UBS AG | Rating category 6-8 | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 116.5 | 103.5 |
UBS AG | Rating category 6-8 | Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.9 | 0.5 |
UBS AG | Rating category 6-8 | Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 10.4 | 6.9 |
UBS AG | Rating category 6-8 | Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 6.2 | 7.4 |
UBS AG | Rating category 6-8 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 1.6 | 1.6 |
UBS AG | Rating category 6-8 | Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 2.1 | 1.7 |
UBS AG | Rating category 6-8 | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 70 | 63.6 |
UBS AG | Rating category 6-8 | Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 0.8 | 1.6 |
UBS AG | Rating category 6-8 | Financial assets available for sale - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 0.1 | 0.1 |
UBS AG | Rating category 6-8 | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 15.9 | 7.7 |
UBS AG | Rating category 6-8 | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 2.7 | 3.6 |
UBS AG | Rating category 6-8 | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 5.8 | 8.7 |
UBS AG | Rating category 9-13 | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 39.1 | 32.7 |
UBS AG | Rating category 9-13 | Due from banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.3 | 0.3 |
UBS AG | Rating category 9-13 | Cash collateral on securities borrowed and reverse repurchase agreements | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 1.8 | 0.7 |
UBS AG | Rating category 9-13 | Positive replacement values | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.3 | 0.4 |
UBS AG | Rating category 9-13 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.1 | 0.2 |
UBS AG | Rating category 9-13 | Trading portfolio assets - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[2] | 3 | 1.3 |
UBS AG | Rating category 9-13 | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 17.6 | 19.1 |
UBS AG | Rating category 9-13 | Financial assets designated at fair value - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1],[3] | 8 | 1.3 |
UBS AG | Rating category 9-13 | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.8 | 2.2 |
UBS AG | Rating category 9-13 | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.8 | 0.7 |
UBS AG | Rating category 9-13 | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 6.5 | 6.5 |
UBS AG | Rating category Defaulted | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 2 | 2.2 |
UBS AG | Rating category Defaulted | Loans | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 1.5 | 1.6 |
UBS AG | Rating category Defaulted | Other assets | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | 0.3 | 0.3 |
UBS AG | Rating category Defaulted | Guarantees | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | SFr 0.2 | 0.3 |
UBS AG | Rating category Defaulted | Loan commitments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets subject to credit risk | [1] | SFr 0.1 | |
[1] | Refer to the “Internal UBS rating scale and mapping of external ratings” table in the "Risk management and control" section of this report for more information on rating categories. | ||
[2] | Does not include debt instruments held for unit-linked investment contracts and investment fund units. | ||
[3] | Does not include investment fund units. |
Measurement categories, cred191
Measurement categories, credit risk and maturity analysis of financial instruments (Detail 4) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | ||
Financial liabilities recognized on balance sheet | ||||
Due to banks | SFr 7,533 | [1],[2] | SFr 10,645 | |
Cash collateral on securities lent | 1,789 | [1],[2] | 2,818 | |
Repurchase agreements | 15,255 | [1],[2] | 6,612 | |
Trading portfolio liabilities | 30,463 | [1],[2],[3],[4] | 22,824 | |
Negative replacement values | [5],[6],[7] | 116,133 | [1],[2],[3] | 153,810 |
Cash collateral payables on derivative instruments | 30,247 | [1],[2] | 35,472 | |
Due to customers | [1],[2] | 409,100 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 56,300 | ||
Debt issued | [1],[2],[9] | 153,200 | ||
Other liabilities | [1],[2] | 46,700 | ||
Total financial liabilities | [1],[2] | 866,800 | 876,600 | |
Guarantees, commitments and forward starting transactions | ||||
Loan commitments | [2],[10] | 38,700 | ||
Guarantees | [2],[10] | 18,900 | ||
Forward starting transactions | ||||
Reverse repurchase agreements | [2],[10] | 12,700 | ||
Securities borrowing agreements | [2],[10] | 0 | ||
Total | [2],[10] | 70,200 | 81,400 | |
Trading portfolio liabilities contractually due within one month | 29,500 | 21,800 | ||
Trading portfolio liabilities contractually due between one month and one year | 800 | 1,000 | ||
Trading portfolio liabilities contractually due between 1 and 5 years | 100 | 100 | ||
Due within 1 month | ||||
Financial liabilities recognized on balance sheet | ||||
Due to banks | [1],[2] | 6,100 | ||
Cash collateral on securities lent | [1],[2] | 1,700 | ||
Repurchase agreements | [1],[2] | 11,900 | ||
Trading portfolio liabilities | [1],[2],[3],[4] | 30,500 | ||
Negative replacement values | [1],[2],[3] | 116,100 | ||
Cash collateral payables on derivative instruments | [1],[2] | 30,200 | ||
Due to customers | [1],[2] | 393,000 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 18,400 | ||
Debt issued | [1],[2],[9] | 4,100 | ||
Other liabilities | [1],[2] | 46,700 | ||
Total financial liabilities | [1],[2] | 658,700 | 704,300 | |
Guarantees, commitments and forward starting transactions | ||||
Loan commitments | [2],[10] | 38,200 | ||
Guarantees | [2],[10] | 18,800 | ||
Forward starting transactions | ||||
Reverse repurchase agreements | [2],[10] | 12,700 | ||
Securities borrowing agreements | [2],[10] | 0 | ||
Total | [2],[10] | 69,700 | 81,000 | |
Due between 1 and 3 months | ||||
Financial liabilities recognized on balance sheet | ||||
Due to banks | [1],[2] | 400 | ||
Cash collateral on securities lent | [1],[2] | 200 | ||
Repurchase agreements | [1],[2] | 2,800 | ||
Due to customers | [1],[2] | 10,200 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 10,300 | ||
Debt issued | [1],[2],[9] | 15,000 | ||
Total financial liabilities | [1],[2] | 39,000 | 39,200 | |
Guarantees, commitments and forward starting transactions | ||||
Loan commitments | [2],[10] | 200 | ||
Guarantees | [2],[10] | 0 | ||
Forward starting transactions | ||||
Total | [2],[10] | 200 | 200 | |
Due between 3 and 12 months | ||||
Financial liabilities recognized on balance sheet | ||||
Due to banks | [1],[2] | 1,000 | ||
Repurchase agreements | [1],[2] | 600 | ||
Due to customers | [1],[2] | 5,200 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 11,600 | ||
Debt issued | [1],[2],[9] | 45,200 | ||
Total financial liabilities | [1],[2] | 63,500 | 40,400 | |
Guarantees, commitments and forward starting transactions | ||||
Loan commitments | [2],[10] | 200 | ||
Forward starting transactions | ||||
Total | [2],[10] | 200 | 200 | |
Due between 1 and 5 years | ||||
Financial liabilities recognized on balance sheet | ||||
Due to banks | [1],[2] | 100 | ||
Repurchase agreements | [1],[2] | 0 | ||
Due to customers | [1],[2] | 700 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 8,800 | ||
Debt issued | [1],[2],[9] | 50,800 | ||
Total financial liabilities | [1],[2] | 60,400 | 46,600 | |
Guarantees, commitments and forward starting transactions | ||||
Loan commitments | [2],[10] | 100 | ||
Forward starting transactions | ||||
Total | [2],[10] | 100 | 0 | |
Due after 5 years | ||||
Financial liabilities recognized on balance sheet | ||||
Due to banks | [1],[2] | 0 | ||
Repurchase agreements | [1],[2] | 0 | ||
Due to customers | [1],[2] | 0 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 7,100 | ||
Debt issued | [1],[2],[9] | 38,100 | ||
Total financial liabilities | [1],[2] | 45,200 | 46,000 | |
Forward starting transactions | ||||
Total | [2],[10] | 0 | 0 | |
UBS AG | ||||
Financial liabilities recognized on balance sheet | ||||
Due to banks | 7,533 | [1],[2] | 10,645 | |
Cash collateral on securities lent | 1,789 | [1],[2] | 2,818 | |
Repurchase agreements | 15,255 | [1],[2] | 6,612 | |
Trading portfolio liabilities | 30,463 | [1],[2],[3],[4] | 22,825 | |
Negative replacement values | [5],[6],[7] | 116,134 | [1],[2],[3] | 153,810 |
Cash collateral payables on derivative instruments | 30,247 | [1],[2] | 35,472 | |
Due to customers | [1],[2] | 453,300 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 56,300 | ||
Debt issued | [1],[2],[9] | 110,300 | ||
Other liabilities | [1],[2] | 47,400 | ||
Total financial liabilities | [1],[2] | 868,900 | 877,700 | |
Guarantees, commitments and forward starting transactions | ||||
Loan commitments | [2],[10] | 38,700 | ||
Guarantees | [2],[10] | 18,900 | ||
Forward starting transactions | ||||
Reverse repurchase agreements | [2],[10] | 12,700 | ||
Securities borrowing agreements | [2],[10] | 0 | ||
Total | [2],[10] | 70,200 | 81,400 | |
Trading portfolio liabilities contractually due within one month | 29,500 | 21,800 | ||
Trading portfolio liabilities contractually due between one month and one year | 800 | 1,000 | ||
Trading portfolio liabilities contractually due between 1 and 5 years | 100 | 100 | ||
UBS AG | Due within 1 month | ||||
Financial liabilities recognized on balance sheet | ||||
Due to banks | [1],[2] | 6,100 | ||
Cash collateral on securities lent | [1],[2] | 1,700 | ||
Repurchase agreements | [1],[2] | 11,900 | ||
Trading portfolio liabilities | [1],[2],[3],[4] | 30,500 | ||
Negative replacement values | [1],[2],[3] | 116,100 | ||
Cash collateral payables on derivative instruments | [1],[2] | 30,200 | ||
Due to customers | [1],[2] | 394,800 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 18,400 | ||
Debt issued | [1],[2],[9] | 4,100 | ||
Other liabilities | [1],[2] | 47,400 | ||
Total financial liabilities | [1],[2] | 661,200 | 706,700 | |
Guarantees, commitments and forward starting transactions | ||||
Loan commitments | [2],[10] | 38,200 | ||
Guarantees | [2],[10] | 18,800 | ||
Forward starting transactions | ||||
Reverse repurchase agreements | [2],[10] | 12,700 | ||
Securities borrowing agreements | [2],[10] | 0 | ||
Total | [2],[10] | 69,700 | 81,000 | |
UBS AG | Due between 1 and 3 months | ||||
Financial liabilities recognized on balance sheet | ||||
Due to banks | [1],[2] | 400 | ||
Cash collateral on securities lent | [1],[2] | 200 | ||
Repurchase agreements | [1],[2] | 2,800 | ||
Due to customers | [1],[2] | 11,400 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 10,300 | ||
Debt issued | [1],[2],[9] | 14,500 | ||
Total financial liabilities | [1],[2] | 39,600 | 39,200 | |
Guarantees, commitments and forward starting transactions | ||||
Loan commitments | [2],[10] | 200 | ||
Guarantees | [2],[10] | 0 | ||
Forward starting transactions | ||||
Total | [2],[10] | 200 | 200 | |
UBS AG | Due between 3 and 12 months | ||||
Financial liabilities recognized on balance sheet | ||||
Due to banks | [1],[2] | 1,000 | ||
Repurchase agreements | [1],[2] | 600 | ||
Due to customers | [1],[2] | 5,800 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 11,600 | ||
Debt issued | [1],[2],[9] | 44,500 | ||
Total financial liabilities | [1],[2] | 63,400 | 40,200 | |
Guarantees, commitments and forward starting transactions | ||||
Loan commitments | [2],[10] | 200 | ||
Forward starting transactions | ||||
Total | [2],[10] | 200 | 200 | |
UBS AG | Due between 1 and 5 years | ||||
Financial liabilities recognized on balance sheet | ||||
Due to banks | [1],[2] | 100 | ||
Repurchase agreements | [1],[2] | 0 | ||
Due to customers | [1],[2] | 22,200 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 8,800 | ||
Debt issued | [1],[2],[9] | 34,800 | ||
Total financial liabilities | [1],[2] | 65,900 | 45,900 | |
Guarantees, commitments and forward starting transactions | ||||
Loan commitments | [2],[10] | 100 | ||
Forward starting transactions | ||||
Total | [2],[10] | 100 | 0 | |
UBS AG | Due after 5 years | ||||
Financial liabilities recognized on balance sheet | ||||
Due to banks | [1],[2] | 0 | ||
Repurchase agreements | [1],[2] | 0 | ||
Due to customers | [1],[2] | 19,100 | ||
Financial liabilities designated at fair value | [1],[2],[8] | 7,100 | ||
Debt issued | [1],[2],[9] | 12,500 | ||
Total financial liabilities | [1],[2] | 38,700 | 45,600 | |
Forward starting transactions | ||||
Total | [2],[10] | SFr 0 | SFr 0 | |
[1] | Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. | |||
[2] | Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. | |||
[3] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | |||
[4] | Contractual maturities of trading portfolio liabilities are: CHF 29.5 billion due within one month (2016: CHF 21.8 billion), CHF 0.8 billion due between one month and one year (2016: CHF 1.0 billion) and CHF 0.1 billion due between 1 and 5 years (2016: CHF 0.1 billion). | |||
[5] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. | |||
[6] | NRV: Negative replacement value. | |||
[7] | Refer to Note 24 for more information on netting arrangements. | |||
[8] | Future interest payments on variable rate liabilities are determined by reference to the applicable interest rate prevailing as of the reporting date. Future principal payments that are variable are determined by reference to the conditions existing at the reporting date. | |||
[9] | The time bucket Due after 5 years includes perpetual loss-absorbing additional tier 1 capital instruments. | |||
[10] | Comprises the maximum irrevocable amount of guarantees, commitments and forward starting transactions. |
Measurement categories, cred192
Measurement categories, credit risk and maturity analysis of financial instruments (Narrative) (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2009 | Dec. 31, 2008 | |
Disclosure Measurement Categories [Line Items] | ||||
Notional amount of loans, but not structured loans, designated at fair value | SFr 4 | SFr 609 | ||
Notional amount of credit derivatives used to mitigate credit risks of loans, but not structured loans, designated at fair value | 578 | |||
Fair value of credit derivatives used to mitigate credit risks of loans, but not structured loans, designated at fair value | (7) | |||
Carrying value of remaining reclassified financial assets | 100 | 200 | ||
Fair value of remaining reclassified financial assets | 100 | 200 | ||
Gains (losses) on financial assets reclassified out of financial assets at fair value through profit or loss recognised in profit or loss | 1 | 1 | ||
Gains (losses) to be recognised in profit or loss if financial assets had not been reclassified | (4) | |||
Trading portfolio assets at reclassification date | ||||
Disclosure Measurement Categories [Line Items] | ||||
Reclassification into loans | SFr 600 | SFr 26,000 | ||
UBS AG | ||||
Disclosure Measurement Categories [Line Items] | ||||
Notional amount of loans, but not structured loans, designated at fair value | 4 | 609 | ||
Notional amount of credit derivatives used to mitigate credit risks of loans, but not structured loans, designated at fair value | 578 | |||
Fair value of credit derivatives used to mitigate credit risks of loans, but not structured loans, designated at fair value | (7) | |||
Carrying value of remaining reclassified financial assets | 100 | 200 | ||
Fair value of remaining reclassified financial assets | 100 | 200 | ||
Gains (losses) on financial assets reclassified out of financial assets at fair value through profit or loss recognised in profit or loss | 1 | SFr 1 | ||
Gains (losses) to be recognised in profit or loss if financial assets had not been reclassified | SFr (4) | |||
UBS AG | Trading portfolio assets at reclassification date | ||||
Disclosure Measurement Categories [Line Items] | ||||
Reclassification into loans | SFr 600 | SFr 26,000 |
Pension and other post-emplo193
Pension and other post-employment benefit plans (Detail 1) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | SFr 471 | SFr 435 | SFr 569 | |
Expenses for defined contribution plans | [1] | 239 | 236 | 239 |
Total pension and other post-employment benefit plan expenses | [2],[3] | 710 | 670 | 808 |
of which UK plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 71 | 77 | 86 | |
of which US plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 108 | 106 | 100 | |
of which remaining plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 59 | 53 | 53 | |
of which related to major pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [4] | 452 | 412 | 546 |
of which: Swiss pension plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [5] | 406 | 381 | 515 |
of which: UK pension plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 14 | (2) | 18 | |
of which: US and German pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 31 | 33 | 12 | |
of which related to post-employment medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [6] | 3 | 4 | 4 |
of which: UK medical insurance plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 1 | 1 | 1 | |
of which: US medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 2 | 3 | 2 | |
of which related to remaining plans and other expenses | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [7] | 17 | 19 | 19 |
UBS AG | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 359 | 433 | 568 | |
Expenses for defined contribution plans | [1] | 232 | 236 | 239 |
Total pension and other post-employment benefit plan expenses | [2],[3] | 591 | 669 | 807 |
UBS AG | of which UK plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 64 | 77 | 86 | |
UBS AG | of which US plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 108 | 106 | 100 | |
UBS AG | of which remaining plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 59 | 53 | 53 | |
UBS AG | of which related to major pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [4] | 347 | 412 | 546 |
UBS AG | of which: Swiss pension plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [8] | 302 | 381 | 515 |
UBS AG | of which: UK pension plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 14 | (2) | 18 | |
UBS AG | of which: US and German pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 31 | 33 | 12 | |
UBS AG | of which related to post-employment medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [6] | 3 | 4 | 4 |
UBS AG | of which: UK medical insurance plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 1 | 1 | 1 | |
UBS AG | of which: US medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 2 | 3 | 2 | |
UBS AG | of which related to remaining plans and other expenses | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [7] | SFr 8 | SFr 17 | SFr 19 |
[1] | Refer to Note 26c for more information. | |||
[2] | Refer to Note 26 for more information. | |||
[3] | Refer to Note 6. | |||
[4] | Refer to Note 26a for more information. | |||
[5] | The increase in net periodic pension expenses for the Swiss pension plan between 2017 and 2016 related primarily to lower curtailments, partly offset by lower expenses due to changes in demographic and financial assumptions. | |||
[6] | Refer to Note 26b for more information. | |||
[7] | Other expenses include differences between actual and estimated performance award accruals and net accrued pension expenses related to restructuring. | |||
[8] | The decrease in net periodic pension expenses for the Swiss pension plan in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. |
Pension and other post-emplo194
Pension and other post-employment benefit plans (Detail 2) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | SFr 277 | SFr (876) | SFr 322 | |
Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income | 11 | 52 | (19) | |
Gains / (losses) recognized in other comprehensive income, net of tax | [1] | 288 | (824) | 304 |
of which: attributable to shareholders | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, net of tax | 288 | (824) | 298 | |
of which: attributable to non-controlling interest | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, net of tax | 0 | 0 | 5 | |
Major pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | [2] | 245 | (837) | 339 |
of which: Swiss pension plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | (78) | (105) | 58 | |
of which: UK pension plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | 295 | (610) | 317 | |
of which: US and German pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | 28 | (122) | (35) | |
Post-employment medical insurance plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | [3] | 1 | (13) | (3) |
of which: UK medical insurance plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | 1 | (6) | 6 | |
of which: US medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | 0 | (7) | (9) | |
Remaining plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | 31 | (26) | (14) | |
UBS AG | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | 299 | (876) | 322 | |
Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income | 6 | 52 | (19) | |
Gains / (losses) recognized in other comprehensive income, net of tax | [1] | 305 | (824) | 304 |
UBS AG | Major pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | [2] | 266 | (837) | 339 |
UBS AG | of which: Swiss pension plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | (56) | (105) | 58 | |
UBS AG | of which: UK pension plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | 295 | (610) | 317 | |
UBS AG | of which: US and German pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | 28 | (122) | (35) | |
UBS AG | Post-employment medical insurance plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | [3] | 1 | (13) | (3) |
UBS AG | of which: UK medical insurance plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | 1 | (6) | 6 | |
UBS AG | of which: US medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | 0 | (7) | (9) | |
UBS AG | Remaining plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Gains / (losses) recognized in other comprehensive income, before tax | SFr 31 | SFr (26) | SFr (14) | |
[1] | Refer to the “Statement of comprehensive income”. | |||
[2] | Refer to Note 26a for more information. | |||
[3] | Refer to Note 26b for more information. |
Pension and other post-emplo195
Pension and other post-employment benefit plans (Detail 3) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | [1],[2] | SFr 925 | SFr 1,266 |
Major pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | [3] | 805 | 1,140 |
of which: Swiss pension plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment asset | 0 | 0 | |
Total net defined benefit pension and post-employment liability | 0 | 0 | |
of which: UK pension plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 268 | 529 | |
of which: US and German pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | [4] | 536 | 611 |
US pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 149 | 265 | |
German pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 388 | 346 | |
Post-employment medical insurance plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | [5] | 86 | 91 |
of which: UK medical insurance plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 26 | 26 | |
of which: US medical insurance plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 59 | 65 | |
Remaining plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 35 | 35 | |
UBS AG | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | [1],[2] | 925 | 1,266 |
UBS AG | Major pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | [3] | 805 | 1,140 |
UBS AG | of which: Swiss pension plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment asset | 0 | 0 | |
Total net defined benefit pension and post-employment liability | 0 | 0 | |
UBS AG | of which: UK pension plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 268 | 529 | |
UBS AG | of which: US and German pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | [4] | 536 | 611 |
UBS AG | US pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 149 | 265 | |
UBS AG | German pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 388 | 346 | |
UBS AG | Post-employment medical insurance plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | [5] | 86 | 91 |
UBS AG | of which: UK medical insurance plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 26 | 26 | |
UBS AG | of which: US medical insurance plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 59 | 65 | |
UBS AG | Remaining plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | SFr 34 | SFr 34 | |
[1] | Refer to Note 21. | ||
[2] | Refer to Note 26 for more information. | ||
[3] | Refer to Note 26a for more information. | ||
[4] | Of the total liability as of 31 December 2017, CHF 149 million related to US plans and CHF 388 million related to German plans (31 December 2016: CHF 265 million related to US plans and CHF 346 million related to German plans). | ||
[5] | Refer to Note 26b for more information. |
Pension and other post-emplo196
Pension and other post-employment benefit plans (Narrative) (Detail) | 12 Months Ended | ||
Dec. 31, 2017CHF (SFr)yr | Dec. 31, 2016CHF (SFr) | ||
Major pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions | SFr 574,000,000 | SFr 665,000,000 | |
Plan assets | SFr 30,599,000,000 | SFr 28,934,000,000 | |
Swiss pension plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 64 | ||
Minimum age required to draw early retirement benefits | yr | 58 | ||
Technical funding ratio | 131.90% | 125.40% | |
Limit for investments in equities | 50.00% | ||
Defined benefit plan, estimated future economic benefit | SFr 0 | SFr 0 | |
Total movement in asset ceiling effect | 1,407,000,000 | 466,000,000 | |
Employer contributions expected for the next year | 470,000,000 | ||
Employer contributions | 477,000,000 | 486,000,000 | |
Plan assets | 25,984,000,000 | 24,614,000,000 | |
Increase (decrease) in DBO due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | (319,000,000) | ||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | (339,000,000) | ||
Minimum commitment toward the pension fund under the related leases | SFr 5,000,000 | 11,000,000 | |
Maximum period to restore full funding in case an underfunded situation occur | 10 years | ||
Maximum obligation from the employer on the additional contributions required if a Swiss pension plan were to become significantly underfunded | 50.00% | ||
Net defined benefit pension and post-employment assets | SFr 0 | 0 | |
Swiss pension plan | Market-driven changes in the discount rate | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | (170,000,000) | ||
Swiss pension plan | Market-driven changes in the assumed interest credit rate on retirement savings | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | SFr 27,000,000 | ||
Swiss pension plan | Max. | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employee contributions on contributory base salary (as a percent) | 13.50% | ||
Employee contributions on contributory variable compensation (as a percent) | 9.00% | ||
Employer contributions on contributory base salary (as a percent) | 27.50% | ||
Employer contributions on contributory variable compensation (as a percent) | 9.00% | ||
Swiss pension plan | Min. | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employee contributions on contributory base salary (as a percent) | 1.00% | ||
Employee contributions on contributory variable compensation (as a percent) | 0.00% | ||
Employer contributions on contributory base salary (as a percent) | 6.50% | ||
Employer contributions on contributory variable compensation (as a percent) | 3.60% | ||
UK pension plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 60 | ||
Employer contributions expected for the next year | SFr 0 | ||
Employer contributions | 0 | 0 | |
Plan assets | 3,381,000,000 | 3,175,000,000 | |
Increase (decrease) in DBO due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | (80,000,000) | (63,000,000) | |
UK pension plan | Market-driven changes in the discount rate | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | (105,000,000) | (866,000,000) | |
UK pension plan | Market-driven changes in the inflation rates | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | 60,000,000 | (156,000,000) | |
US and German pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions | 97,000,000 | 179,000,000 | |
Plan assets | SFr 1,234,000,000 | 1,144,000,000 | |
US pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 65 | ||
Employer contributions expected for the next year | SFr 8,000,000 | ||
Number of plans | 2 | ||
Employer contributions | SFr 89,000,000 | 172,000,000 | |
Plan assets | [1] | SFr 1,234,000,000 | 1,144,000,000 |
German pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 65 | ||
Employer contributions expected for the next year | SFr 10,000,000 | ||
Number of plans | 2 | ||
Plan assets | SFr 0 | ||
German pension plans - Larger | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 5.00% | ||
German pension plans - Smaller | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 4.00% | ||
Medical Insurance Plans [Member] | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | SFr 5,000,000 | ||
UBS AG | Major pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions | 448,000,000 | 665,000,000 | |
Plan assets | SFr 20,590,000,000 | SFr 28,934,000,000 | |
UBS AG | Swiss pension plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 64 | ||
Minimum age required to draw early retirement benefits | yr | 58 | ||
Technical funding ratio | 131.90% | 125.40% | |
Limit for investments in equities | 50.00% | ||
Defined benefit plan, estimated future economic benefit | SFr 0 | SFr 0 | |
Total movement in asset ceiling effect | 1,008,000,000 | 466,000,000 | |
Employer contributions expected for the next year | 294,000,000 | ||
Employer contributions | 351,000,000 | 486,000,000 | |
Plan assets | 15,975,000,000 | 24,614,000,000 | |
Increase (decrease) in DBO due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | (319,000,000) | ||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | (339,000,000) | ||
Minimum commitment toward the pension fund under the related leases | SFr 5,000,000 | 11,000,000 | |
Maximum period to restore full funding in case an underfunded situation occur | 10 years | ||
Maximum obligation from the employer on the additional contributions required if a Swiss pension plan were to become significantly underfunded | 50.00% | ||
Net defined benefit pension and post-employment assets | SFr 0 | 0 | |
UBS AG | Swiss pension plan | Market-driven changes in the discount rate | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | (164,000,000) | ||
UBS AG | Swiss pension plan | Market-driven changes in the assumed interest credit rate on retirement savings | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | SFr 26,000,000 | ||
UBS AG | Swiss pension plan | Max. | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employee contributions on contributory base salary (as a percent) | 13.50% | ||
Employee contributions on contributory variable compensation (as a percent) | 9.00% | ||
Employer contributions on contributory base salary (as a percent) | 27.50% | ||
Employer contributions on contributory variable compensation (as a percent) | 9.00% | ||
UBS AG | Swiss pension plan | Min. | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employee contributions on contributory base salary (as a percent) | 1.00% | ||
Employee contributions on contributory variable compensation (as a percent) | 0.00% | ||
Employer contributions on contributory base salary (as a percent) | 6.50% | ||
Employer contributions on contributory variable compensation (as a percent) | 3.60% | ||
UBS AG | UK pension plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 60 | ||
Employer contributions expected for the next year | SFr 0 | ||
Employer contributions | 0 | 0 | |
Plan assets | 3,381,000,000 | 3,175,000,000 | |
Increase (decrease) in DBO due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | (80,000,000) | (63,000,000) | |
UBS AG | UK pension plan | Market-driven changes in the discount rate | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | (105,000,000) | (866,000,000) | |
UBS AG | UK pension plan | Market-driven changes in the inflation rates | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Actuarial gains (losses) arising from changes in financial assumptions due to methodology enhancement and/or refinement of estimation approaches for actuarial assumptions | 60,000,000 | (156,000,000) | |
UBS AG | US and German pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions | 97,000,000 | 179,000,000 | |
Plan assets | SFr 1,234,000,000 | 1,144,000,000 | |
UBS AG | US pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 65 | ||
Employer contributions expected for the next year | SFr 8,000,000 | ||
Number of plans | 2 | ||
Employer contributions | SFr 89,000,000 | 172,000,000 | |
Plan assets | [1] | SFr 1,234,000,000 | SFr 1,144,000,000 |
UBS AG | German pension plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Normal retirement age | yr | 65 | ||
Employer contributions expected for the next year | SFr 10,000,000 | ||
Number of plans | 2 | ||
Plan assets | SFr 0 | ||
UBS AG | German pension plans - Larger | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 5.00% | ||
UBS AG | German pension plans - Smaller | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Interest rate | 4.00% | ||
UBS AG | Medical Insurance Plans [Member] | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employer contributions expected for the next year | SFr 5,000,000 | ||
[1] | The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in the Standard & Poor’s rating classification. |
Defined benefit plans (Detail 4
Defined benefit plans (Detail 4.1) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Major pension plans | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | SFr (1,140) | SFr (572) | |
Other movements | 8 | (19) | |
Return on plan assets excluding amounts included in interest income | 1,939 | 1,139 | |
Employer contributions | 574 | 665 | |
Foreign currency translation | (39) | 35 | |
At the end of the year | (805) | (1,140) | |
Major pension plans | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 28,325 | 27,605 | |
Current service cost | 456 | 480 | |
Interest expense | 325 | 419 | |
Plan participant contributions | 205 | 210 | |
Remeasurements | 301 | 1,524 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (79) | (719) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 276 | 1,827 | |
of which: experience (gains) / losses | [1] | 104 | 416 |
Curtailments | (49) | (96) | |
Benefit payments | (1,457) | (1,307) | |
Other movements | (8) | 19 | |
Foreign currency translation | 150 | (529) | |
At the end of the year | 28,248 | 28,325 | |
Major pension plans | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 28,934 | 28,316 | |
Plan participant contributions | 205 | 210 | |
Benefit payments | (1,457) | (1,307) | |
Return on plan assets excluding amounts included in interest income | 1,939 | 1,139 | |
Interest income | 307 | 420 | |
Employer contributions | 574 | 665 | |
Administration expenses, taxes and premiums paid | (14) | (16) | |
Foreign currency translation | 111 | (494) | |
At the end of the year | 30,599 | 28,934 | |
Major pension plans | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,749 | 1,283 | |
Interest expense on asset ceiling effect | 13 | 14 | |
Asset ceiling effect excluding interest expense on asset ceiling effect | 1,394 | 452 | |
At the end of the year | 3,156 | 1,749 | |
Major pension plans | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 10,894 | 10,967 | |
Major pension plans | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 2,510 | 2,794 | |
Major pension plans | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 14,844 | 14,563 | |
Swiss plan | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Other movements | 8 | 0 | |
Return on plan assets excluding amounts included in interest income | 1,619 | 824 | |
Employer contributions | 477 | 486 | |
Foreign currency translation | 0 | 0 | |
At the end of the year | 0 | 0 | |
Swiss plan | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 22,865 | 22,636 | |
Current service cost | 448 | 471 | |
Interest expense | 163 | 240 | |
Plan participant contributions | 205 | 210 | |
Remeasurements | 303 | 477 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 6 | (659) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 145 | 698 | |
of which: experience (gains) / losses | [1] | 152 | 438 |
Curtailments | (49) | (96) | |
Benefit payments | (1,098) | (1,074) | |
Other movements | (8) | 0 | |
Foreign currency translation | 0 | 0 | |
At the end of the year | 22,828 | 22,865 | |
Swiss plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 24,614 | 23,919 | |
Plan participant contributions | 205 | 210 | |
Benefit payments | (1,098) | (1,074) | |
Return on plan assets excluding amounts included in interest income | 1,619 | 824 | |
Interest income | 178 | 258 | |
Employer contributions | 477 | 486 | |
Administration expenses, taxes and premiums paid | (10) | (10) | |
Foreign currency translation | 0 | 0 | |
At the end of the year | 25,984 | 24,614 | |
Swiss plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,749 | 1,283 | |
Interest expense on asset ceiling effect | 13 | 14 | |
Asset ceiling effect excluding interest expense on asset ceiling effect | 1,394 | 452 | |
At the end of the year | 3,156 | 1,749 | |
Swiss plan | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 10,470 | 10,419 | |
Swiss plan | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 0 | 0 | |
Swiss plan | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 12,358 | 12,446 | |
UK plan | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (529) | 50 | |
Other movements | 0 | 0 | |
Return on plan assets excluding amounts included in interest income | 213 | 312 | |
Employer contributions | 0 | 0 | |
Foreign currency translation | (20) | 29 | |
At the end of the year | (268) | (529) | |
UK plan | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,704 | 3,350 | |
Current service cost | 0 | 0 | |
Interest expense | 100 | 116 | |
Plan participant contributions | 0 | 0 | |
Remeasurements | (82) | 922 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (80) | (63) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 47 | 1,022 | |
of which: experience (gains) / losses | [1] | (49) | (37) |
Curtailments | 0 | 0 | |
Benefit payments | (251) | (135) | |
Other movements | 0 | 0 | |
Foreign currency translation | 179 | (549) | |
At the end of the year | 3,650 | 3,704 | |
UK plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,175 | 3,400 | |
Plan participant contributions | 0 | 0 | |
Benefit payments | (251) | (135) | |
Return on plan assets excluding amounts included in interest income | 213 | 312 | |
Interest income | 86 | 118 | |
Employer contributions | 0 | 0 | |
Administration expenses, taxes and premiums paid | 0 | 0 | |
Foreign currency translation | 159 | (520) | |
At the end of the year | 3,381 | 3,175 | |
UK plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Interest expense on asset ceiling effect | 0 | 0 | |
Asset ceiling effect excluding interest expense on asset ceiling effect | 0 | 0 | |
At the end of the year | 0 | 0 | |
UK plan | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 176 | 290 | |
UK plan | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 1,881 | 2,210 | |
UK plan | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 1,593 | 1,204 | |
US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (611) | (622) | |
Other movements | 0 | (19) | |
Return on plan assets excluding amounts included in interest income | 108 | 2 | |
Employer contributions | 97 | 179 | |
Foreign currency translation | (20) | 6 | |
At the end of the year | (536) | (611) | |
US and German plans | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,755 | 1,619 | |
Current service cost | 9 | 9 | |
Interest expense | 61 | 62 | |
Plan participant contributions | 0 | 0 | |
Remeasurements | 80 | 125 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (5) | 3 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 84 | 107 | |
of which: experience (gains) / losses | [1] | 2 | 15 |
Curtailments | 0 | 0 | |
Benefit payments | (107) | (98) | |
Other movements | 0 | 19 | |
Foreign currency translation | (29) | 20 | |
At the end of the year | 1,770 | 1,755 | |
US and German plans | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,144 | 997 | |
Plan participant contributions | 0 | 0 | |
Benefit payments | (107) | (98) | |
Return on plan assets excluding amounts included in interest income | 108 | 2 | |
Interest income | 44 | 44 | |
Employer contributions | 97 | 179 | |
Administration expenses, taxes and premiums paid | (4) | (6) | |
Foreign currency translation | (48) | 26 | |
At the end of the year | 1,234 | 1,144 | |
US and German plans | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Interest expense on asset ceiling effect | 0 | 0 | |
Asset ceiling effect excluding interest expense on asset ceiling effect | 0 | 0 | |
At the end of the year | 0 | 0 | |
US and German plans | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 248 | 258 | |
US and German plans | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 628 | 584 | |
US and German plans | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 893 | 913 | |
UBS AG | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Increase (decrease) in net defined benefit liability (asset) due to transfer of employees from UBS AG to UBS Business Solutions AG | (8,675) | ||
UBS AG | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Increase (decrease) in net defined benefit liability (asset) due to transfer of employees from UBS AG to UBS Business Solutions AG | (9,492) | ||
UBS AG | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Increase (decrease) in net defined benefit liability (asset) due to transfer of employees from UBS AG to UBS Business Solutions AG | (817) | ||
UBS AG | Major pension plans | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (1,140) | (572) | |
Other movements | 8 | (19) | |
Return on plan assets excluding amounts included in interest income | 1,314 | 1,139 | |
Employer contributions | 448 | 665 | |
Foreign currency translation | (39) | 35 | |
At the end of the year | (805) | (1,140) | |
UBS AG | Major pension plans | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 28,325 | 27,605 | |
Current service cost | 333 | 480 | |
Interest expense | 279 | 419 | |
Plan participant contributions | 155 | 210 | |
Remeasurements | 49 | 1,524 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (81) | (719) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 269 | 1,827 | |
of which: experience (gains) / losses | [1] | (138) | 416 |
Curtailments | (27) | (96) | |
Benefit payments | (1,126) | (1,307) | |
Other movements | [2] | (8,682) | 19 |
Foreign currency translation | 150 | (529) | |
At the end of the year | 19,454 | 28,325 | |
UBS AG | Major pension plans | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 28,934 | 28,316 | |
Plan participant contributions | 155 | 210 | |
Benefit payments | (1,126) | (1,307) | |
Other movements | [2] | (9,492) | 0 |
Return on plan assets excluding amounts included in interest income | 1,314 | 1,139 | |
Interest income | 257 | 420 | |
Employer contributions | 448 | 665 | |
Administration expenses, taxes and premiums paid | (12) | (16) | |
Foreign currency translation | 111 | (494) | |
At the end of the year | 20,590 | 28,934 | |
UBS AG | Major pension plans | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,749 | 1,283 | |
Other movements | [2] | (817) | 0 |
Interest expense on asset ceiling effect | 9 | 14 | |
Asset ceiling effect excluding interest expense on asset ceiling effect | 999 | 452 | |
At the end of the year | 1,940 | 1,749 | |
UBS AG | Major pension plans | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 6,861 | 10,967 | |
UBS AG | Major pension plans | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 2,510 | 2,794 | |
UBS AG | Major pension plans | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 10,083 | 14,563 | |
UBS AG | Swiss plan | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Other movements | 8 | 0 | |
Return on plan assets excluding amounts included in interest income | 994 | 824 | |
Employer contributions | 351 | 486 | |
Foreign currency translation | 0 | 0 | |
At the end of the year | 0 | 0 | |
UBS AG | Swiss plan | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 22,865 | 22,636 | |
Current service cost | 324 | 471 | |
Interest expense | 117 | 240 | |
Plan participant contributions | 155 | 210 | |
Remeasurements | 51 | 477 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 4 | (659) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 138 | 698 | |
of which: experience (gains) / losses | [1] | (90) | 438 |
Curtailments | (27) | (96) | |
Benefit payments | (767) | (1,074) | |
Other movements | [2] | (8,682) | 0 |
Foreign currency translation | 0 | 0 | |
At the end of the year | 14,035 | 22,865 | |
UBS AG | Swiss plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 24,614 | 23,919 | |
Plan participant contributions | 155 | 210 | |
Benefit payments | (767) | (1,074) | |
Other movements | [2] | (9,492) | 0 |
Return on plan assets excluding amounts included in interest income | 994 | 824 | |
Interest income | 128 | 258 | |
Employer contributions | 351 | 486 | |
Administration expenses, taxes and premiums paid | (7) | (10) | |
Foreign currency translation | 0 | 0 | |
At the end of the year | 15,975 | 24,614 | |
UBS AG | Swiss plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,749 | 1,283 | |
Other movements | [2] | (817) | 0 |
Interest expense on asset ceiling effect | 9 | 14 | |
Asset ceiling effect excluding interest expense on asset ceiling effect | 999 | 452 | |
At the end of the year | 1,940 | 1,749 | |
UBS AG | Swiss plan | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 6,437 | 10,419 | |
UBS AG | Swiss plan | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 0 | 0 | |
UBS AG | Swiss plan | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 7,598 | 12,446 | |
UBS AG | UK plan | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (529) | 50 | |
Other movements | 0 | 0 | |
Return on plan assets excluding amounts included in interest income | 213 | 312 | |
Employer contributions | 0 | 0 | |
Foreign currency translation | (20) | 29 | |
At the end of the year | (268) | (529) | |
UBS AG | UK plan | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,704 | 3,350 | |
Current service cost | 0 | 0 | |
Interest expense | 100 | 116 | |
Plan participant contributions | 0 | 0 | |
Remeasurements | (82) | 922 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (80) | (63) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 47 | 1,022 | |
of which: experience (gains) / losses | [1] | (49) | (37) |
Curtailments | 0 | 0 | |
Benefit payments | (251) | (135) | |
Other movements | [2] | 0 | 0 |
Foreign currency translation | 179 | (549) | |
At the end of the year | 3,650 | 3,704 | |
UBS AG | UK plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,175 | 3,400 | |
Plan participant contributions | (251) | (135) | |
Benefit payments | 0 | 0 | |
Other movements | [2] | 0 | 0 |
Return on plan assets excluding amounts included in interest income | 213 | 312 | |
Interest income | 86 | 118 | |
Employer contributions | 0 | 0 | |
Administration expenses, taxes and premiums paid | 0 | 0 | |
Foreign currency translation | 159 | (520) | |
At the end of the year | 3,381 | 3,175 | |
UBS AG | UK plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Other movements | [2] | 0 | 0 |
Interest expense on asset ceiling effect | 0 | 0 | |
Asset ceiling effect excluding interest expense on asset ceiling effect | 0 | 0 | |
At the end of the year | 0 | 0 | |
UBS AG | UK plan | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 176 | 290 | |
UBS AG | UK plan | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 1,881 | 2,210 | |
UBS AG | UK plan | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 1,593 | 1,204 | |
UBS AG | US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (611) | (622) | |
Other movements | 0 | (19) | |
Return on plan assets excluding amounts included in interest income | 108 | 2 | |
Employer contributions | 97 | 179 | |
Foreign currency translation | (20) | 6 | |
At the end of the year | (536) | (611) | |
UBS AG | US and German plans | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,755 | 1,619 | |
Current service cost | 9 | 9 | |
Interest expense | 61 | 62 | |
Plan participant contributions | 0 | 0 | |
Remeasurements | 80 | 125 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (5) | 3 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 84 | 107 | |
of which: experience (gains) / losses | [1] | 2 | 15 |
Curtailments | 0 | 0 | |
Benefit payments | (107) | (98) | |
Other movements | [2] | 0 | 19 |
Foreign currency translation | (29) | 20 | |
At the end of the year | 1,770 | 1,755 | |
UBS AG | US and German plans | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,144 | 997 | |
Plan participant contributions | 0 | 0 | |
Benefit payments | (107) | (98) | |
Other movements | [2] | 0 | 0 |
Return on plan assets excluding amounts included in interest income | 108 | 2 | |
Interest income | 44 | 44 | |
Employer contributions | 97 | 179 | |
Administration expenses, taxes and premiums paid | (4) | (6) | |
Foreign currency translation | (48) | 26 | |
At the end of the year | 1,234 | 1,144 | |
UBS AG | US and German plans | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Other movements | [2] | 0 | 0 |
Interest expense on asset ceiling effect | 0 | 0 | |
Asset ceiling effect excluding interest expense on asset ceiling effect | 0 | 0 | |
At the end of the year | 0 | 0 | |
UBS AG | US and German plans | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 248 | 258 | |
UBS AG | US and German plans | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | 628 | 584 | |
UBS AG | US and German plans | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Defined benefit obligation | SFr 893 | SFr 913 | |
[1] | Experience (gains) / losses are a component of actuarial remeasurements of the defined benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. | ||
[2] | Primarily reflects the transfer of employees from UBS AG to UBS Business Solutions AG. |
Defined benefit plans (Detai198
Defined benefit plans (Detail 4.2) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | ||||
Amounts recognized in other comprehensive income | SFr 277 | SFr (876) | SFr 322 | |
Major pension plans | ||||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | ||||
At the beginning of the year | (1,140) | (572) | ||
Net periodic expenses recognized in net profit | (452) | (412) | ||
Amounts recognized in other comprehensive income | [1] | 245 | (837) | 339 |
Employer contributions | 574 | 665 | ||
Other movements | 8 | (19) | ||
Foreign currency translation | (39) | 35 | ||
At the end of the year | (805) | (1,140) | (572) | |
Swiss plan | ||||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | ||||
At the beginning of the year | 0 | 0 | ||
Net periodic expenses recognized in net profit | (406) | (381) | ||
Amounts recognized in other comprehensive income | (78) | (105) | 58 | |
Employer contributions | 477 | 486 | ||
Other movements | 8 | 0 | ||
Foreign currency translation | 0 | 0 | ||
At the end of the year | 0 | 0 | 0 | |
UK plan | ||||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | ||||
At the beginning of the year | (529) | 50 | ||
Net periodic expenses recognized in net profit | (14) | 2 | ||
Amounts recognized in other comprehensive income | 295 | (610) | 317 | |
Employer contributions | 0 | 0 | ||
Other movements | 0 | 0 | ||
Foreign currency translation | (20) | 29 | ||
At the end of the year | (268) | (529) | 50 | |
US and German plans | ||||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | ||||
At the beginning of the year | (611) | (622) | ||
Net periodic expenses recognized in net profit | (31) | (33) | ||
Amounts recognized in other comprehensive income | 28 | (122) | (35) | |
Employer contributions | 97 | 179 | ||
Other movements | 0 | (19) | ||
Foreign currency translation | (20) | 6 | ||
At the end of the year | (536) | (611) | (622) | |
UBS AG | ||||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | ||||
Amounts recognized in other comprehensive income | 299 | (876) | 322 | |
UBS AG | Major pension plans | ||||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | ||||
At the beginning of the year | (1,140) | (572) | ||
Net periodic expenses recognized in net profit | (347) | (412) | ||
Amounts recognized in other comprehensive income | [1] | 266 | (837) | 339 |
Employer contributions | 448 | 665 | ||
Other movements | 8 | (19) | ||
Foreign currency translation | (39) | 35 | ||
At the end of the year | (805) | (1,140) | (572) | |
UBS AG | Swiss plan | ||||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | ||||
At the beginning of the year | 0 | 0 | ||
Net periodic expenses recognized in net profit | (302) | (381) | ||
Amounts recognized in other comprehensive income | (56) | (105) | 58 | |
Employer contributions | 351 | 486 | ||
Other movements | 8 | 0 | ||
Foreign currency translation | 0 | 0 | ||
At the end of the year | 0 | 0 | 0 | |
UBS AG | UK plan | ||||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | ||||
At the beginning of the year | (529) | 50 | ||
Net periodic expenses recognized in net profit | (14) | 2 | ||
Amounts recognized in other comprehensive income | 295 | (610) | 317 | |
Employer contributions | 0 | 0 | ||
Other movements | 0 | 0 | ||
Foreign currency translation | (20) | 29 | ||
At the end of the year | (268) | (529) | 50 | |
UBS AG | US and German plans | ||||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | ||||
At the beginning of the year | (611) | (622) | ||
Net periodic expenses recognized in net profit | (31) | (33) | ||
Amounts recognized in other comprehensive income | 28 | (122) | (35) | |
Employer contributions | 97 | 179 | ||
Other movements | 0 | (19) | ||
Foreign currency translation | (20) | 6 | ||
At the end of the year | SFr (536) | SFr (611) | SFr (622) | |
[1] | Refer to Note 26a for more information. |
Defined benefit plans (Detai199
Defined benefit plans (Detail 4.3) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Major pension plans | |||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||
Defined benefit obligation from funded plans | SFr 27,769 | SFr 27,885 | |
Defined benefit obligation from unfunded plans | 479 | 440 | |
Plan assets | 30,599 | 28,934 | |
Surplus / (deficit) | 2,351 | 609 | |
Asset ceiling effect | 3,156 | 1,749 | |
Net defined benefit asset / (liability) | (805) | (1,140) | SFr (572) |
Swiss plan | |||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||
Defined benefit obligation from funded plans | 22,828 | 22,865 | |
Defined benefit obligation from unfunded plans | 0 | 0 | |
Plan assets | 25,984 | 24,614 | |
Surplus / (deficit) | 3,156 | 1,749 | |
Asset ceiling effect | 3,156 | 1,749 | |
Net defined benefit asset / (liability) | 0 | 0 | 0 |
UK plan | |||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||
Defined benefit obligation from funded plans | 3,650 | 3,704 | |
Defined benefit obligation from unfunded plans | 0 | 0 | |
Plan assets | 3,381 | 3,175 | |
Surplus / (deficit) | (268) | (529) | |
Asset ceiling effect | 0 | 0 | |
Net defined benefit asset / (liability) | (268) | (529) | 50 |
US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||
Defined benefit obligation from funded plans | 1,291 | 1,316 | |
Defined benefit obligation from unfunded plans | 479 | 440 | |
Plan assets | 1,234 | 1,144 | |
Surplus / (deficit) | (536) | (611) | |
Asset ceiling effect | 0 | 0 | |
Net defined benefit asset / (liability) | (536) | (611) | (622) |
UBS AG | Major pension plans | |||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||
Defined benefit obligation from funded plans | 18,975 | 27,885 | |
Defined benefit obligation from unfunded plans | 479 | 440 | |
Plan assets | 20,590 | 28,934 | |
Surplus / (deficit) | 1,135 | 609 | |
Asset ceiling effect | 1,940 | 1,749 | |
Net defined benefit asset / (liability) | (805) | (1,140) | (572) |
UBS AG | Swiss plan | |||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||
Defined benefit obligation from funded plans | 14,035 | 22,865 | |
Defined benefit obligation from unfunded plans | 0 | 0 | |
Plan assets | 15,975 | 24,614 | |
Surplus / (deficit) | 1,940 | 1,749 | |
Asset ceiling effect | 1,940 | 1,749 | |
Net defined benefit asset / (liability) | 0 | 0 | 0 |
UBS AG | UK plan | |||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||
Defined benefit obligation from funded plans | 3,650 | 3,704 | |
Defined benefit obligation from unfunded plans | 0 | 0 | |
Plan assets | 3,381 | 3,175 | |
Surplus / (deficit) | (268) | (529) | |
Asset ceiling effect | 0 | 0 | |
Net defined benefit asset / (liability) | (268) | (529) | 50 |
UBS AG | US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||
Defined benefit obligation from funded plans | 1,291 | 1,316 | |
Defined benefit obligation from unfunded plans | 479 | 440 | |
Plan assets | 1,234 | 1,144 | |
Surplus / (deficit) | (536) | (611) | |
Asset ceiling effect | 0 | 0 | |
Net defined benefit asset / (liability) | SFr (536) | SFr (611) | SFr (622) |
Defined benefit plans (Detail 5
Defined benefit plans (Detail 5.1) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Net periodic expenses recognized in net profit | SFr 471 | SFr 435 | SFr 569 | |
Major pension plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 456 | 480 | ||
Interest expense related to defined benefit obligation | 325 | 419 | ||
Interest income related to plan assets | (307) | (420) | ||
Interest expense on asset ceiling effect | 13 | 14 | ||
Administration expenses, taxes and premiums paid | 14 | 16 | ||
Curtailments | (49) | (96) | ||
Net periodic expenses recognized in net profit | [1] | 452 | 412 | 546 |
Swiss plan | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 448 | 471 | ||
Interest expense related to defined benefit obligation | 163 | 240 | ||
Interest income related to plan assets | (178) | (258) | ||
Interest expense on asset ceiling effect | 13 | 14 | ||
Administration expenses, taxes and premiums paid | 10 | 10 | ||
Curtailments | (49) | (96) | ||
Net periodic expenses recognized in net profit | [2] | 406 | 381 | 515 |
UK plan | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 0 | 0 | ||
Interest expense related to defined benefit obligation | 100 | 116 | ||
Interest income related to plan assets | (86) | (118) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 0 | 0 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | 14 | (2) | 18 | |
US and German plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 9 | 9 | ||
Interest expense related to defined benefit obligation | 61 | 62 | ||
Interest income related to plan assets | (44) | (44) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 4 | 6 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | 31 | 33 | 12 | |
UBS AG | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Net periodic expenses recognized in net profit | 359 | 433 | 568 | |
UBS AG | Major pension plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 333 | 480 | ||
Interest expense related to defined benefit obligation | 279 | 419 | ||
Interest income related to plan assets | (257) | (420) | ||
Interest expense on asset ceiling effect | 9 | 14 | ||
Administration expenses, taxes and premiums paid | 12 | 16 | ||
Curtailments | (27) | (96) | ||
Net periodic expenses recognized in net profit | [1] | 347 | 412 | 546 |
UBS AG | Swiss plan | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 324 | 471 | ||
Interest expense related to defined benefit obligation | 117 | 240 | ||
Interest income related to plan assets | (128) | (258) | ||
Interest expense on asset ceiling effect | 9 | 14 | ||
Administration expenses, taxes and premiums paid | 7 | 10 | ||
Curtailments | (27) | (96) | ||
Net periodic expenses recognized in net profit | [3] | 302 | 381 | 515 |
UBS AG | UK plan | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 0 | 0 | ||
Interest expense related to defined benefit obligation | 100 | 116 | ||
Interest income related to plan assets | (86) | (118) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 0 | 0 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | 14 | (2) | 18 | |
UBS AG | US and German plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 9 | 9 | ||
Interest expense related to defined benefit obligation | 61 | 62 | ||
Interest income related to plan assets | (44) | (44) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 4 | 6 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | SFr 31 | SFr 33 | SFr 12 | |
[1] | Refer to Note 26a for more information. | |||
[2] | The increase in net periodic pension expenses for the Swiss pension plan between 2017 and 2016 related primarily to lower curtailments, partly offset by lower expenses due to changes in demographic and financial assumptions. | |||
[3] | The decrease in net periodic pension expenses for the Swiss pension plan in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. |
Defined benefit plans (Detai201
Defined benefit plans (Detail 5.2) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | ||||
Total gains / (losses) recognized in other comprehensive income, before tax | SFr 277 | SFr (876) | SFr 322 | |
Major pension plans | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | ||||
Remeasurement of defined benefit obligation | (301) | (1,524) | ||
Return on plan assets excluding amounts included in interest income | 1,939 | 1,139 | ||
Asset ceiling effect excluding interest expense on asset ceiling effect | (1,394) | (452) | ||
Total gains / (losses) recognized in other comprehensive income, before tax | [1] | 245 | (837) | 339 |
Swiss plan | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | ||||
Remeasurement of defined benefit obligation | (303) | (477) | ||
Return on plan assets excluding amounts included in interest income | 1,619 | 824 | ||
Asset ceiling effect excluding interest expense on asset ceiling effect | (1,394) | (452) | ||
Total gains / (losses) recognized in other comprehensive income, before tax | (78) | (105) | 58 | |
UK plan | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | ||||
Remeasurement of defined benefit obligation | 82 | (922) | ||
Return on plan assets excluding amounts included in interest income | 213 | 312 | ||
Asset ceiling effect excluding interest expense on asset ceiling effect | 0 | 0 | ||
Total gains / (losses) recognized in other comprehensive income, before tax | 295 | (610) | 317 | |
US and German plans | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | ||||
Remeasurement of defined benefit obligation | (80) | (125) | ||
Return on plan assets excluding amounts included in interest income | 108 | 2 | ||
Asset ceiling effect excluding interest expense on asset ceiling effect | 0 | 0 | ||
Total gains / (losses) recognized in other comprehensive income, before tax | 28 | (122) | (35) | |
UBS AG | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | ||||
Total gains / (losses) recognized in other comprehensive income, before tax | 299 | (876) | 322 | |
UBS AG | Major pension plans | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | ||||
Remeasurement of defined benefit obligation | (49) | (1,524) | ||
Return on plan assets excluding amounts included in interest income | 1,314 | 1,139 | ||
Asset ceiling effect excluding interest expense on asset ceiling effect | (999) | (452) | ||
Total gains / (losses) recognized in other comprehensive income, before tax | [1] | 266 | (837) | 339 |
UBS AG | Swiss plan | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | ||||
Remeasurement of defined benefit obligation | (51) | (477) | ||
Return on plan assets excluding amounts included in interest income | 994 | 824 | ||
Asset ceiling effect excluding interest expense on asset ceiling effect | (999) | (452) | ||
Total gains / (losses) recognized in other comprehensive income, before tax | (56) | (105) | 58 | |
UBS AG | UK plan | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | ||||
Remeasurement of defined benefit obligation | 82 | (922) | ||
Return on plan assets excluding amounts included in interest income | 213 | 312 | ||
Asset ceiling effect excluding interest expense on asset ceiling effect | 0 | 0 | ||
Total gains / (losses) recognized in other comprehensive income, before tax | 295 | (610) | 317 | |
UBS AG | US and German plans | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | ||||
Remeasurement of defined benefit obligation | (80) | (125) | ||
Return on plan assets excluding amounts included in interest income | 108 | 2 | ||
Asset ceiling effect excluding interest expense on asset ceiling effect | 0 | 0 | ||
Total gains / (losses) recognized in other comprehensive income, before tax | SFr 28 | SFr (122) | SFr (35) | |
[1] | Refer to Note 26a for more information. |
Defined benefit plans (Detail 6
Defined benefit plans (Detail 6) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017CHF (SFr)yr | Dec. 31, 2016CHF (SFr)yr | ||
Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 15.1 | 15.1 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | SFr 1,120 | SFr 1,140 | |
Benefits expected to be paid between 1 and 3 years | 2,236 | 2,204 | |
Benefits expected to be paid between 3 and 6 years | 3,368 | 3,394 | |
Benefits expected to be paid between 6 and 11 years | 5,423 | 5,439 | |
Benefits expected to be paid between 11 and 16 years | 4,980 | 5,041 | |
Benefits expected to be paid in more than 16 years | SFr 16,757 | SFr 17,162 | |
UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 20 | 22.6 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | SFr 81 | SFr 72 | |
Benefits expected to be paid between 1 and 3 years | 177 | 164 | |
Benefits expected to be paid between 3 and 6 years | 328 | 315 | |
Benefits expected to be paid between 6 and 11 years | 699 | 710 | |
Benefits expected to be paid between 11 and 16 years | 786 | 856 | |
Benefits expected to be paid in more than 16 years | SFr 4,216 | SFr 6,064 | |
US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | [1] | 10.6 | 10.6 |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | SFr 105 | SFr 103 | |
Benefits expected to be paid between 1 and 3 years | 212 | 213 | |
Benefits expected to be paid between 3 and 6 years | 321 | 328 | |
Benefits expected to be paid between 6 and 11 years | 558 | 562 | |
Benefits expected to be paid between 11 and 16 years | 501 | 514 | |
Benefits expected to be paid in more than 16 years | SFr 865 | SFr 958 | |
UBS AG | Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 15.1 | 15.1 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | [2] | SFr 689 | SFr 1,140 |
Benefits expected to be paid between 1 and 3 years | [2] | 1,389 | 2,204 |
Benefits expected to be paid between 3 and 6 years | [2] | 2,085 | 3,394 |
Benefits expected to be paid between 6 and 11 years | [2] | 3,326 | 5,439 |
Benefits expected to be paid between 11 and 16 years | [2] | 3,090 | 5,041 |
Benefits expected to be paid in more than 16 years | [2] | SFr 10,453 | SFr 17,162 |
UBS AG | UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 20 | 22.6 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | SFr 81 | SFr 72 | |
Benefits expected to be paid between 1 and 3 years | 177 | 164 | |
Benefits expected to be paid between 3 and 6 years | 328 | 315 | |
Benefits expected to be paid between 6 and 11 years | 699 | 710 | |
Benefits expected to be paid between 11 and 16 years | 786 | 856 | |
Benefits expected to be paid in more than 16 years | SFr 4,216 | SFr 6,064 | |
UBS AG | US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | [1] | 10.6 | 10.6 |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | SFr 105 | SFr 103 | |
Benefits expected to be paid between 1 and 3 years | 212 | 213 | |
Benefits expected to be paid between 3 and 6 years | 321 | 328 | |
Benefits expected to be paid between 6 and 11 years | 558 | 562 | |
Benefits expected to be paid between 11 and 16 years | 501 | 514 | |
Benefits expected to be paid in more than 16 years | SFr 865 | SFr 958 | |
[1] | The duration of the defined benefit obligation represents a weighted average across US and German plans. | ||
[2] | The decrease in benefits expected to be paid in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. |
Defined benefit plans (Detail 7
Defined benefit plans (Detail 7) | Dec. 31, 2017 | Dec. 31, 2016 | |
Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 0.67% | 0.73% | |
Rate of salary increase | 1.30% | 1.30% | |
Rate of pension increase | 0.00% | 0.00% | |
Rate of interest credit on retirement savings | 0.67% | 0.73% | |
UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 2.55% | 2.69% | |
Rate of salary increase | 0.00% | 0.00% | |
Rate of pension increase | 3.11% | 3.18% | |
Rate of interest credit on retirement savings | 0.00% | 0.00% | |
US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 3.14% | 3.58% | [1] |
Rate of salary increase | 2.83% | 2.86% | [1] |
Rate of pension increase | 1.50% | 1.50% | [1] |
Rate of interest credit on retirement savings | 2.56% | 1.74% | [1] |
UBS AG | Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 0.67% | 0.73% | |
Rate of salary increase | 1.30% | 1.30% | |
Rate of pension increase | 0.00% | 0.00% | |
Rate of interest credit on retirement savings | 0.67% | 0.73% | |
UBS AG | UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 2.55% | 2.69% | |
Rate of salary increase | 0.00% | 0.00% | |
Rate of pension increase | 3.11% | 3.18% | |
Rate of interest credit on retirement savings | 0.00% | 0.00% | |
UBS AG | US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 3.14% | 3.58% | [1] |
Rate of salary increase | 2.83% | 2.86% | [1] |
Rate of pension increase | 1.50% | 1.50% | [1] |
Rate of interest credit on retirement savings | 2.56% | 1.74% | [1] |
[1] | Represents weighted average assumptions across US and German plans. |
Defined benefit plans (Detail 8
Defined benefit plans (Detail 8) - yr | Dec. 31, 2017 | Dec. 31, 2016 | |
Switzerland | aged 65 | BVG 2015 G with CMI 2016 projections | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [1] | 21.6 | 21.5 |
Life expectancy at age 65 for a female member currently | [1] | 23.4 | 23.4 |
Switzerland | aged 45 | BVG 2015 G with CMI 2016 projections | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [1] | 23 | 22.9 |
Life expectancy at age 65 for a female member currently | [1] | 24.9 | 24.9 |
UK | aged 65 | S2PA adjusted with CMI 2016 projections | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [2] | 23.4 | 23.7 |
Life expectancy at age 65 for a female member currently | [2] | 25.2 | 25.6 |
UK | aged 45 | S2PA adjusted with CMI 2016 projections | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [2] | 24.6 | 25 |
Life expectancy at age 65 for a female member currently | [2] | 26.5 | 27.4 |
USA | aged 65 | RP2014 WCHA with MP2017 projection scale | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [3] | 22.8 | 22.9 |
Life expectancy at age 65 for a female member currently | [3] | 24.4 | 24.5 |
USA | aged 45 | RP2014 WCHA with MP2017 projection scale | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [3] | 24.4 | 24.4 |
Life expectancy at age 65 for a female member currently | [3] | 26 | 26.1 |
Germany | aged 65 | Dr. K. Heubeck 2005 G | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | 20.3 | 20.1 | |
Life expectancy at age 65 for a female member currently | 24.3 | 24.2 | |
Germany | aged 45 | Dr. K. Heubeck 2005 G | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | 22.9 | 22.8 | |
Life expectancy at age 65 for a female member currently | 26.8 | 26.7 | |
UBS AG | Switzerland | aged 65 | BVG 2015 G with CMI 2016 projections | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [1] | 21.6 | 21.5 |
Life expectancy at age 65 for a female member currently | [1] | 23.4 | 23.4 |
UBS AG | Switzerland | aged 45 | BVG 2015 G with CMI 2016 projections | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [1] | 23 | 22.9 |
Life expectancy at age 65 for a female member currently | [1] | 24.9 | 24.9 |
UBS AG | UK | aged 65 | S2PA adjusted with CMI 2016 projections | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [2] | 23.4 | 23.7 |
Life expectancy at age 65 for a female member currently | [2] | 25.2 | 25.6 |
UBS AG | UK | aged 45 | S2PA adjusted with CMI 2016 projections | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [2] | 24.6 | 25 |
Life expectancy at age 65 for a female member currently | [2] | 26.5 | 27.4 |
UBS AG | USA | aged 65 | RP2014 WCHA with MP2017 projection scale | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [3] | 22.8 | 22.9 |
Life expectancy at age 65 for a female member currently | [3] | 24.4 | 24.5 |
UBS AG | USA | aged 45 | RP2014 WCHA with MP2017 projection scale | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [3] | 24.4 | 24.4 |
Life expectancy at age 65 for a female member currently | [3] | 26 | 26.1 |
UBS AG | Germany | aged 65 | Dr. K. Heubeck 2005 G | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | 20.3 | 20.1 | |
Life expectancy at age 65 for a female member currently | 24.3 | 24.2 | |
UBS AG | Germany | aged 45 | Dr. K. Heubeck 2005 G | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | 22.9 | 22.8 | |
Life expectancy at age 65 for a female member currently | 26.8 | 26.7 | |
[1] | In 2016, the mortality table BVG 2015 G with proposed CMI 2016 was used. | ||
[2] | In 2016, the mortality table S2PA with CMI 2015 projections was used. | ||
[3] | In 2016, the mortality table RP2014 WCHA with MP2016 projection scale was used. |
Defined benefit plans (Detail 9
Defined benefit plans (Detail 9) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Swiss plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | SFr (1,432) | SFr (1,435) |
Decrease by 50 basis points | [1] | 1,627 | 1,630 |
Swiss plan | Rate of salary increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 84 | 86 |
Decrease by 50 basis points | [1] | (80) | (79) |
Swiss plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 1,181 | 1,178 |
Swiss plan | Rate of interest credit on retirement savings | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 260 | 264 |
Decrease by 50 basis points | [1] | (247) | (250) |
Swiss plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | 807 | 796 |
UK plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (341) | (388) |
Decrease by 50 basis points | [1] | 391 | 452 |
UK plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 370 | 435 |
Decrease by 50 basis points | [1] | (327) | (377) |
UK plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | 139 | 136 |
US and German plans | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (88) | (86) |
Decrease by 50 basis points | [1] | 96 | 94 |
US and German plans | Rate of salary increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 1 | 1 |
Decrease by 50 basis points | [1] | (1) | (1) |
US and German plans | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 7 | 6 |
Decrease by 50 basis points | [1] | (6) | (6) |
US and German plans | Rate of interest credit on retirement savings | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 9 | 9 |
Decrease by 50 basis points | [1] | (9) | (8) |
US and German plans | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | 47 | 44 |
UBS AG | Swiss plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1],[2] | (875) | (1,435) |
Decrease by 50 basis points | [1],[2] | 996 | 1,630 |
UBS AG | Swiss plan | Rate of salary increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1],[2] | 60 | 86 |
Decrease by 50 basis points | [1],[2] | (57) | (79) |
UBS AG | Swiss plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1],[2] | 708 | 1,178 |
UBS AG | Swiss plan | Rate of interest credit on retirement savings | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1],[2] | 164 | 264 |
Decrease by 50 basis points | [1],[2] | (155) | (250) |
UBS AG | Swiss plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1],[2] | 485 | 796 |
UBS AG | UK plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (341) | (388) |
Decrease by 50 basis points | [1] | 391 | 452 |
UBS AG | UK plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 370 | 435 |
Decrease by 50 basis points | [1] | (327) | (377) |
UBS AG | UK plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | 139 | 136 |
UBS AG | US and German plans | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (88) | (86) |
Decrease by 50 basis points | [1] | 96 | 94 |
UBS AG | US and German plans | Rate of salary increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 1 | 1 |
Decrease by 50 basis points | [1] | (1) | (1) |
UBS AG | US and German plans | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 7 | 6 |
Decrease by 50 basis points | [1] | (6) | (6) |
UBS AG | US and German plans | Rate of interest credit on retirement savings | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 9 | 9 |
Decrease by 50 basis points | [1] | (9) | (8) |
UBS AG | US and German plans | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | SFr 47 | SFr 44 |
[1] | The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. | ||
[2] | The decrease in sensitivity in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. |
Defined benefit plans (Detail 1
Defined benefit plans (Detail 10) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Total pension plans | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 30,599 | SFr 28,934 | |
Swiss plan | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 25,984 | SFr 24,614 | |
Plan asset allocation % | 100.00% | 100.00% | |
Swiss plan | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 117 | SFr 869 | |
Plan asset allocation % | 0.00% | 4.00% | |
Swiss plan | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 2,787 | SFr 2,689 | |
Plan asset allocation % | 11.00% | 11.00% | |
Swiss plan | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 650 | SFr 938 | |
Plan asset allocation % | 3.00% | 4.00% | |
Swiss plan | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 8,615 | SFr 7,728 | |
Plan asset allocation % | 33.00% | 31.00% | |
Swiss plan | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 2,221 | SFr 2,222 |
Plan asset allocation % | 9.00% | 9.00% | |
Swiss plan | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 6,214 | SFr 5,877 |
Plan asset allocation % | 24.00% | 24.00% | |
Swiss plan | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 563 | SFr 1,176 |
Plan asset allocation % | 2.00% | 5.00% | |
Swiss plan | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 23 | SFr 42 | |
Plan asset allocation % | 0.00% | 0.00% | |
Swiss plan | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 4,781 | SFr 3,059 | |
Plan asset allocation % | 18.00% | 12.00% | |
Swiss plan | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 12 | SFr 15 | |
Plan asset allocation % | 0.00% | 0.00% | |
Swiss plan | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 17,922 | SFr 17,923 | |
Swiss plan | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 117 | 869 | |
Swiss plan | Quoted in active market | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
Swiss plan | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 650 | 938 | |
Swiss plan | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 7,317 | 6,558 | |
Swiss plan | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 2,221 | 2,222 |
Swiss plan | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 6,214 | 5,877 |
Swiss plan | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 563 | 1,176 |
Swiss plan | Quoted in active market | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
Swiss plan | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 839 | 283 | |
Swiss plan | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
Swiss plan | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 8,061 | 6,691 | |
Swiss plan | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
Swiss plan | Other | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 2,787 | 2,689 | |
Swiss plan | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
Swiss plan | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 1,298 | 1,170 | |
Swiss plan | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
Swiss plan | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
Swiss plan | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
Swiss plan | Other | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 23 | 42 | |
Swiss plan | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 3,942 | 2,776 | |
Swiss plan | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 12 | 15 | |
UK plan | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 3,381 | SFr 3,175 | |
Plan asset allocation % | 100.00% | 100.00% | |
UK plan | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 159 | SFr 133 | |
Plan asset allocation % | 5.00% | 4.00% | |
UK plan | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 1,666 | SFr 1,131 |
Plan asset allocation % | 49.00% | 36.00% | |
UK plan | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 1 | SFr 1 |
Plan asset allocation % | 0.00% | 0.00% | |
UK plan | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 31 | SFr 39 | |
Plan asset allocation % | 1.00% | 1.00% | |
UK plan | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 1,020 | SFr 984 | |
Plan asset allocation % | 30.00% | 31.00% | |
UK plan | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 706 | SFr 528 |
Plan asset allocation % | 21.00% | 17.00% | |
UK plan | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 21 | SFr 23 |
Plan asset allocation % | 1.00% | 1.00% | |
UK plan | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 143 | SFr 245 |
Plan asset allocation % | 4.00% | 8.00% | |
UK plan | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 56 | SFr 39 |
Plan asset allocation % | 2.00% | 1.00% | |
UK plan | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 128 | SFr 111 | |
Plan asset allocation % | 4.00% | 4.00% | |
UK plan | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 1 | SFr 76 | |
Plan asset allocation % | 0.00% | 2.00% | |
UK plan | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | SFr (549) | SFr (134) |
Plan asset allocation % | [2] | (16.00%) | (4.00%) |
UK plan | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 3,257 | SFr 2,955 | |
UK plan | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 159 | 133 | |
UK plan | Quoted in active market | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 1,666 | 1,131 |
UK plan | Quoted in active market | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 1 | 1 |
UK plan | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 31 | 39 | |
UK plan | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 1,020 | 984 | |
UK plan | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 625 | 500 |
UK plan | Quoted in active market | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 21 | 23 |
UK plan | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 143 | 245 |
UK plan | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 56 | 39 |
UK plan | Quoted in active market | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 100 | 39 | |
UK plan | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | (4) | (35) | |
UK plan | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | (560) | (144) |
UK plan | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 124 | 221 | |
UK plan | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UK plan | Other | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UK plan | Other | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UK plan | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UK plan | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UK plan | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 81 | 28 |
UK plan | Other | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UK plan | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UK plan | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UK plan | Other | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 27 | 72 | |
UK plan | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 5 | 111 | |
UK plan | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 11 | 10 |
US and German plans | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 1,234 | 1,144 | |
US plans | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 1,234 | SFr 1,144 |
Weighted average plan asset allocation % | 100.00% | 100.00% | |
US plans | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 74 | SFr 75 | |
Weighted average plan asset allocation % | 6.00% | 7.00% | |
US plans | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 195 | SFr 158 |
Weighted average plan asset allocation % | 16.00% | 14.00% | |
US plans | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 10 | SFr 13 |
Weighted average plan asset allocation % | 1.00% | 1.00% | |
US plans | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 44 | SFr 42 |
Weighted average plan asset allocation % | 4.00% | 4.00% | |
US plans | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 1 | SFr 1 |
Weighted average plan asset allocation % | 0.00% | 0.00% | |
US plans | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 291 | SFr 264 | |
Weighted average plan asset allocation % | 24.00% | 23.00% | |
US plans | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 270 | SFr 248 | |
Weighted average plan asset allocation % | 22.00% | 22.00% | |
US plans | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 210 | SFr 218 |
Weighted average plan asset allocation % | 17.00% | 19.00% | |
US plans | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 19 | SFr 18 |
Weighted average plan asset allocation % | 2.00% | 2.00% | |
US plans | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 46 | SFr 42 |
Weighted average plan asset allocation % | 4.00% | 4.00% | |
US plans | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 5 | SFr 5 |
Weighted average plan asset allocation % | 0.00% | 0.00% | |
US plans | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 12 | SFr 11 | |
Weighted average plan asset allocation % | 1.00% | 1.00% | |
US plans | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 21 | SFr 19 | |
Weighted average plan asset allocation % | 2.00% | 2.00% | |
US plans | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 17 | SFr 18 | |
Weighted average plan asset allocation % | 1.00% | 2.00% | |
US plans | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 15 | SFr 8 | |
Weighted average plan asset allocation % | 1.00% | 1.00% | |
US plans | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 4 | SFr 3 | |
Weighted average plan asset allocation % | 0.00% | 0.00% | |
US plans | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 1,204 | SFr 1,115 |
US plans | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 74 | 75 | |
US plans | Quoted in active market | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 195 | 158 |
US plans | Quoted in active market | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 10 | 13 |
US plans | Quoted in active market | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 44 | 42 |
US plans | Quoted in active market | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 1 | 1 |
US plans | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 291 | 264 | |
US plans | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 270 | 248 | |
US plans | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 210 | 218 |
US plans | Quoted in active market | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 19 | 18 |
US plans | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 46 | 42 |
US plans | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 5 | 5 |
US plans | Quoted in active market | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 21 | 19 | |
US plans | Quoted in active market | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Quoted in active market | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 15 | 8 | |
US plans | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 4 | 3 | |
US plans | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 30 | 29 |
US plans | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Other | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
US plans | Other | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
US plans | Other | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
US plans | Other | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
US plans | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
US plans | Other | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
US plans | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
US plans | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
US plans | Other | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 12 | 11 | |
US plans | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Other | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 17 | 18 | |
US plans | Other | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
US plans | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Total pension plans | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 20,590 | 28,934 | |
UBS AG | Swiss plan | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 15,975 | SFr 24,614 | |
Plan asset allocation % | 100.00% | 100.00% | |
UBS AG | Swiss plan | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 72 | SFr 869 | |
Plan asset allocation % | 0.00% | 4.00% | |
UBS AG | Swiss plan | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 1,714 | SFr 2,689 | |
Plan asset allocation % | 11.00% | 11.00% | |
UBS AG | Swiss plan | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 400 | SFr 938 | |
Plan asset allocation % | 3.00% | 4.00% | |
UBS AG | Swiss plan | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 5,297 | SFr 7,728 | |
Plan asset allocation % | 33.00% | 31.00% | |
UBS AG | Swiss plan | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 1,366 | SFr 2,222 |
Plan asset allocation % | 9.00% | 9.00% | |
UBS AG | Swiss plan | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 3,821 | SFr 5,877 |
Plan asset allocation % | 24.00% | 24.00% | |
UBS AG | Swiss plan | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 346 | SFr 1,176 |
Plan asset allocation % | 2.00% | 5.00% | |
UBS AG | Swiss plan | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 14 | SFr 42 | |
Plan asset allocation % | 0.00% | 0.00% | |
UBS AG | Swiss plan | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 2,940 | SFr 3,059 | |
Plan asset allocation % | 18.00% | 12.00% | |
UBS AG | Swiss plan | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 7 | SFr 15 | |
Plan asset allocation % | 0.00% | 0.00% | |
UBS AG | Swiss plan | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 11,019 | SFr 17,923 | |
UBS AG | Swiss plan | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 72 | 869 | |
UBS AG | Swiss plan | Quoted in active market | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 400 | 938 | |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 4,499 | 6,558 | |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 1,366 | 2,222 |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 3,821 | 5,877 |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 346 | 1,176 |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Swiss plan | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 516 | 283 | |
UBS AG | Swiss plan | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Swiss plan | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 4,956 | 6,691 | |
UBS AG | Swiss plan | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Swiss plan | Other | Real estate / property - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 1,714 | 2,689 | |
UBS AG | Swiss plan | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | Swiss plan | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 798 | 1,170 | |
UBS AG | Swiss plan | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | Swiss plan | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | Swiss plan | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | Swiss plan | Other | Investment funds - Real estate - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 14 | 42 | |
UBS AG | Swiss plan | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 2,423 | 2,776 | |
UBS AG | Swiss plan | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 7 | 15 | |
UBS AG | UK plan | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 3,381 | SFr 3,175 | |
Plan asset allocation % | 100.00% | 100.00% | |
UBS AG | UK plan | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 159 | SFr 133 | |
Plan asset allocation % | 5.00% | 4.00% | |
UBS AG | UK plan | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 1,666 | SFr 1,131 |
Plan asset allocation % | 49.00% | 36.00% | |
UBS AG | UK plan | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 1 | SFr 1 |
Plan asset allocation % | 0.00% | 0.00% | |
UBS AG | UK plan | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 31 | SFr 39 | |
Plan asset allocation % | 1.00% | 1.00% | |
UBS AG | UK plan | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 1,020 | SFr 984 | |
Plan asset allocation % | 30.00% | 31.00% | |
UBS AG | UK plan | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 706 | SFr 528 |
Plan asset allocation % | 21.00% | 17.00% | |
UBS AG | UK plan | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 21 | SFr 23 |
Plan asset allocation % | 1.00% | 1.00% | |
UBS AG | UK plan | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 143 | SFr 245 |
Plan asset allocation % | 4.00% | 8.00% | |
UBS AG | UK plan | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 56 | SFr 39 |
Plan asset allocation % | 2.00% | 1.00% | |
UBS AG | UK plan | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 128 | SFr 111 | |
Plan asset allocation % | 4.00% | 4.00% | |
UBS AG | UK plan | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 1 | SFr 76 | |
Plan asset allocation % | 0.00% | 2.00% | |
UBS AG | UK plan | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | SFr (549) | SFr (134) |
Plan asset allocation % | [2] | (16.00%) | (4.00%) |
UBS AG | UK plan | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 3,257 | SFr 2,955 | |
UBS AG | UK plan | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 159 | 133 | |
UBS AG | UK plan | Quoted in active market | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 1,666 | 1,131 |
UBS AG | UK plan | Quoted in active market | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 1 | 1 |
UBS AG | UK plan | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 31 | 39 | |
UBS AG | UK plan | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 1,020 | 984 | |
UBS AG | UK plan | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 625 | 500 |
UBS AG | UK plan | Quoted in active market | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 21 | 23 |
UBS AG | UK plan | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 143 | 245 |
UBS AG | UK plan | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 56 | 39 |
UBS AG | UK plan | Quoted in active market | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 100 | 39 | |
UBS AG | UK plan | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | (4) | (35) | |
UBS AG | UK plan | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | (560) | (144) |
UBS AG | UK plan | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 124 | 221 | |
UBS AG | UK plan | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | UK plan | Other | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | UK plan | Other | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | UK plan | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | UK plan | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | UK plan | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 81 | 28 |
UBS AG | UK plan | Other | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | UK plan | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | UK plan | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | UK plan | Other | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 27 | 72 | |
UBS AG | UK plan | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 5 | 111 | |
UBS AG | UK plan | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [2] | 11 | 10 |
UBS AG | US and German plans | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 1,234 | 1,144 | |
UBS AG | US plans | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 1,234 | SFr 1,144 |
Weighted average plan asset allocation % | 100.00% | 100.00% | |
UBS AG | US plans | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 74 | SFr 75 | |
Weighted average plan asset allocation % | 6.00% | 7.00% | |
UBS AG | US plans | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 195 | SFr 158 |
Weighted average plan asset allocation % | 16.00% | 14.00% | |
UBS AG | US plans | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 10 | SFr 13 |
Weighted average plan asset allocation % | 1.00% | 1.00% | |
UBS AG | US plans | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 44 | SFr 42 |
Weighted average plan asset allocation % | 4.00% | 4.00% | |
UBS AG | US plans | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 1 | SFr 1 |
Weighted average plan asset allocation % | 0.00% | 0.00% | |
UBS AG | US plans | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 291 | SFr 264 | |
Weighted average plan asset allocation % | 24.00% | 23.00% | |
UBS AG | US plans | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 270 | SFr 248 | |
Weighted average plan asset allocation % | 22.00% | 22.00% | |
UBS AG | US plans | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 210 | SFr 218 |
Weighted average plan asset allocation % | 17.00% | 19.00% | |
UBS AG | US plans | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 19 | SFr 18 |
Weighted average plan asset allocation % | 2.00% | 2.00% | |
UBS AG | US plans | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 46 | SFr 42 |
Weighted average plan asset allocation % | 4.00% | 4.00% | |
UBS AG | US plans | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 5 | SFr 5 |
Weighted average plan asset allocation % | 0.00% | 0.00% | |
UBS AG | US plans | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 12 | SFr 11 | |
Weighted average plan asset allocation % | 1.00% | 1.00% | |
UBS AG | US plans | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 21 | SFr 19 | |
Weighted average plan asset allocation % | 2.00% | 2.00% | |
UBS AG | US plans | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 17 | SFr 18 | |
Weighted average plan asset allocation % | 1.00% | 2.00% | |
UBS AG | US plans | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 15 | SFr 8 | |
Weighted average plan asset allocation % | 1.00% | 1.00% | |
UBS AG | US plans | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 4 | SFr 3 | |
Weighted average plan asset allocation % | 0.00% | 0.00% | |
UBS AG | US plans | Quoted in active market | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | SFr 1,204 | SFr 1,115 |
UBS AG | US plans | Quoted in active market | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 74 | 75 | |
UBS AG | US plans | Quoted in active market | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 195 | 158 |
UBS AG | US plans | Quoted in active market | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 10 | 13 |
UBS AG | US plans | Quoted in active market | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 44 | 42 |
UBS AG | US plans | Quoted in active market | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 1 | 1 |
UBS AG | US plans | Quoted in active market | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 291 | 264 | |
UBS AG | US plans | Quoted in active market | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 270 | 248 | |
UBS AG | US plans | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 210 | 218 |
UBS AG | US plans | Quoted in active market | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 19 | 18 |
UBS AG | US plans | Quoted in active market | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 46 | 42 |
UBS AG | US plans | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 5 | 5 |
UBS AG | US plans | Quoted in active market | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Quoted in active market | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 21 | 19 | |
UBS AG | US plans | Quoted in active market | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Quoted in active market | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 15 | 8 | |
UBS AG | US plans | Quoted in active market | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 4 | 3 | |
UBS AG | US plans | Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 30 | 29 |
UBS AG | US plans | Other | Cash and cash equivalents | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Other | Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | US plans | Other | Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | US plans | Other | Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | US plans | Other | Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | US plans | Other | Investment funds - Equity - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Other | Investment funds - Equity - Foreign | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Other | Investment funds - Bonds - Domestic, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | US plans | Other | Investment funds - Bonds - Domestic, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | US plans | Other | Investment funds - Bonds - Foreign, AAA to BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | US plans | Other | Investment funds - Bonds - Foreign, below BBB- | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | [1] | 0 | 0 |
UBS AG | US plans | Other | Investment funds - Real estate - Domestic | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 12 | 11 | |
UBS AG | US plans | Other | Investment funds - Other | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Other | Insurance contracts | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 17 | 18 | |
UBS AG | US plans | Other | Asset-backed securities | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | 0 | 0 | |
UBS AG | US plans | Other | Other investments | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Fair value | SFr 0 | SFr 0 | |
[1] | The bond credit ratings are primarily based on Standard & Poor’s credit ratings. Ratings AAA to BBB– and below BBB– represent investment grade and non-investment grade ratings, respectively. In cases where credit ratings from other rating agencies were used, these were converted to the equivalent rating in the Standard & Poor’s rating classification. | ||
[2] | Mainly relates to repurchase arrangements on UK treasury bonds. |
Defined benefit plans (Detai207
Defined benefit plans (Detail 11) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Swiss plan | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | SFr 25,984 | SFr 24,614 | |
Derivative financial instruments, net of collateral | 11 | 76 | |
Swiss plan | Bank accounts at UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1] | 117 | 432 |
Swiss plan | UBS debt instruments | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1] | 3 | 5 |
Swiss plan | UBS shares | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1] | 33 | 47 |
Swiss plan | Securities lent to UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1],[2] | 1,979 | 1,855 |
Swiss plan | Property occupied by UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1] | 83 | 83 |
Swiss plan | Derivative financial instruments, counterparty UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [1],[2] | 23 | (220) |
UK plan | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | 3,381 | 3,175 | |
US and German plans | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | 1,234 | 1,144 | |
UBS AG | Swiss plan | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | 15,975 | 24,614 | |
Derivative financial instruments, net of collateral | 11 | 76 | |
UBS AG | Swiss plan | Bank accounts at UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [3] | 117 | 432 |
UBS AG | Swiss plan | UBS debt instruments | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [3] | 3 | 5 |
UBS AG | Swiss plan | UBS shares | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [3] | 33 | 47 |
UBS AG | Swiss plan | Securities lent to UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [3],[4] | 1,979 | 1,855 |
UBS AG | Swiss plan | Property occupied by UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [3] | 83 | 83 |
UBS AG | Swiss plan | Derivative financial instruments, counterparty UBS | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | [3],[4] | 23 | (220) |
UBS AG | UK plan | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | 3,381 | 3,175 | |
UBS AG | US and German plans | |||
Plan Assets At Fair Value By Plan [Line Items] | |||
Fair value | SFr 1,234 | SFr 1,144 | |
[1] | Bank accounts at UBS encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS instruments and indirect investments, i.e., those made through funds that the pension fund invests in. | ||
[2] | Securities lent to UBS and derivative financial instruments are presented gross of any collateral. Securities lent to UBS were fully covered by collateral as of 31 December 2017 and 31 December 2016. Net of collateral, derivative financial instruments amounted to CHF 11 million as of 31 December 2017 (31 December 2016: CHF 76 million). | ||
[3] | Bank accounts at UBS AG encompass accounts in the name of the Swiss pension fund. The other positions disclosed in the table encompass both direct investments in UBS AG instruments and UBS Group AG shares and indirect investments, i.e., those made through funds that the pension fund invests in. | ||
[4] | Securities lent to UBS AG and derivative financial instruments are presented gross of any collateral. Securities lent to UBS AG were fully covered by collateral as of 31 December 2017 and 31 December 2016. Net of collateral, derivative financial instruments amounted to CHF 11 million as of 31 December 2017 (31 December 2016: CHF 76 million). |
Medical insurance plans (Detail
Medical insurance plans (Detail 12.1) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Post-employment medical insurance plan | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | SFr (91) | ||
Current service cost | 0 | SFr 0 | |
Interest expense | 3 | 3 | |
At the end of the year | (86) | (91) | |
Post-employment medical insurance plan | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 91 | 84 | |
Current service cost | 0 | 0 | |
Interest expense | 3 | 3 | |
Plan participant contributions | 3 | 2 | |
Remeasurements | (1) | 13 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (1) | 0 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 2 | 6 | |
of which: experience (gains) / losses | [1] | (2) | 6 |
Benefit payments | [2] | (9) | (8) |
Foreign currency translation | (1) | (3) | |
At the end of the year | 86 | 91 | |
Post-employment medical insurance plan | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
Post-employment medical insurance plan | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 6 | 6 | |
Post-employment medical insurance plan | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 0 | 0 | |
Post-employment medical insurance plan | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 79 | 86 | |
UK plan | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | (26) | ||
Current service cost | 0 | 0 | |
Interest expense | 1 | 1 | |
At the end of the year | (26) | (26) | |
UK plan | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 26 | 25 | |
Current service cost | 0 | 0 | |
Interest expense | 1 | 1 | |
Plan participant contributions | 0 | 0 | |
Remeasurements | (1) | 6 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | 1 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (1) | 5 | |
of which: experience (gains) / losses | [1] | 0 | 0 |
Benefit payments | [2] | (1) | (1) |
Foreign currency translation | 1 | (4) | |
At the end of the year | 26 | 26 | |
UK plan | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
UK plan | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 6 | 6 | |
UK plan | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 0 | 0 | |
UK plan | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 20 | 21 | |
US plans | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | (65) | ||
Current service cost | 0 | 0 | |
Interest expense | 2 | 3 | |
At the end of the year | (59) | (65) | |
US plans | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 65 | 59 | |
Current service cost | 0 | 0 | |
Interest expense | 2 | 3 | |
Plan participant contributions | 3 | 2 | |
Remeasurements | 0 | 7 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | (1) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 2 | 1 | |
of which: experience (gains) / losses | [1] | (2) | 6 |
Benefit payments | [2] | (7) | (7) |
Foreign currency translation | (3) | 1 | |
At the end of the year | 59 | 65 | |
US plans | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
US plans | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 0 | 0 | |
US plans | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 0 | 0 | |
US plans | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 59 | 65 | |
UBS AG | Post-employment medical insurance plan | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | (91) | ||
Current service cost | 0 | 0 | |
Interest expense | 3 | 3 | |
At the end of the year | (86) | (91) | |
UBS AG | Post-employment medical insurance plan | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 91 | 84 | |
Current service cost | 0 | 0 | |
Interest expense | 3 | 3 | |
Plan participant contributions | 3 | 2 | |
Remeasurements | (1) | 13 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (1) | 0 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 2 | 6 | |
of which: experience (gains) / losses | [1] | (2) | 6 |
Benefit payments | [2] | (9) | (8) |
Foreign currency translation | (1) | (3) | |
At the end of the year | 86 | 91 | |
UBS AG | Post-employment medical insurance plan | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
UBS AG | Post-employment medical insurance plan | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 6 | 6 | |
UBS AG | Post-employment medical insurance plan | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 0 | 0 | |
UBS AG | Post-employment medical insurance plan | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 79 | 86 | |
UBS AG | UK plan | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | (26) | ||
Current service cost | 0 | 0 | |
Interest expense | 1 | 1 | |
At the end of the year | (26) | (26) | |
UBS AG | UK plan | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 26 | 25 | |
Current service cost | 0 | 0 | |
Interest expense | 1 | 1 | |
Plan participant contributions | 0 | 0 | |
Remeasurements | (1) | 6 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | 1 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | (1) | 5 | |
of which: experience (gains) / losses | [1] | 0 | 0 |
Benefit payments | [2] | (1) | (1) |
Foreign currency translation | 1 | (4) | |
At the end of the year | 26 | 26 | |
UBS AG | UK plan | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
UBS AG | UK plan | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 6 | 6 | |
UBS AG | UK plan | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 0 | 0 | |
UBS AG | UK plan | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 20 | 21 | |
UBS AG | US plans | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | (65) | ||
Current service cost | 0 | 0 | |
Interest expense | 2 | 3 | |
At the end of the year | (59) | (65) | |
UBS AG | US plans | Post-employment benefit obligation | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 65 | 59 | |
Current service cost | 0 | 0 | |
Interest expense | 2 | 3 | |
Plan participant contributions | 3 | 2 | |
Remeasurements | 0 | 7 | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 0 | (1) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 2 | 1 | |
of which: experience (gains) / losses | [1] | (2) | 6 |
Benefit payments | [2] | (7) | (7) |
Foreign currency translation | (3) | 1 | |
At the end of the year | 59 | 65 | |
UBS AG | US plans | Fair value of plan assets | |||
Post Employment Medical Insurance Plans [Line Items] | |||
At the beginning of the year | 0 | ||
At the end of the year | 0 | 0 | |
UBS AG | US plans | of which: amounts owed to active members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 0 | 0 | |
UBS AG | US plans | of which: amounts owed to deferred members | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | 0 | 0 | |
UBS AG | US plans | of which: amounts owed to retirees | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Post-employment benefit obligation | SFr 59 | SFr 65 | |
[1] | Experience (gains) / losses are a component of actuarial remeasurements of the post-employment benefit obligation that reflect the effects of differences between the previous actuarial assumptions and what has actually occurred. | ||
[2] | Benefit payments are funded by employer contributions and plan participant contributions. |
Medical insurance plans (Det209
Medical insurance plans (Detail 12.2) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | ||||
Net periodic expenses | SFr 471 | SFr 435 | SFr 569 | |
Post-employment medical insurance plan | ||||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | ||||
Current service cost | 0 | 0 | ||
Interest expense related to post-employment benefit obligation | 3 | 3 | ||
Net periodic expenses | [1] | 3 | 4 | 4 |
UK plan | ||||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | ||||
Current service cost | 0 | 0 | ||
Interest expense related to post-employment benefit obligation | 1 | 1 | ||
Net periodic expenses | 1 | 1 | 1 | |
US plans | ||||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | ||||
Current service cost | 0 | 0 | ||
Interest expense related to post-employment benefit obligation | 2 | 3 | ||
Net periodic expenses | 2 | 3 | 2 | |
UBS AG | ||||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | ||||
Net periodic expenses | 359 | 433 | 568 | |
UBS AG | Post-employment medical insurance plan | ||||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | ||||
Current service cost | 0 | 0 | ||
Interest expense related to post-employment benefit obligation | 3 | 3 | ||
Net periodic expenses | [1] | 3 | 4 | 4 |
UBS AG | UK plan | ||||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | ||||
Current service cost | 0 | 0 | ||
Interest expense related to post-employment benefit obligation | 1 | 1 | ||
Net periodic expenses | 1 | 1 | 1 | |
UBS AG | US plans | ||||
Postemployment Benefit Expense Defined Benefit Medical Insurance Plans [Line Items] | ||||
Current service cost | 0 | 0 | ||
Interest expense related to post-employment benefit obligation | 2 | 3 | ||
Net periodic expenses | SFr 2 | SFr 3 | SFr 2 | |
[1] | Refer to Note 26b for more information. |
Medical insurance plans (Det210
Medical insurance plans (Detail 12.3) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | ||||
Total gains / (losses) recognized in other comprehensive income, before tax | SFr 277 | SFr (876) | SFr 322 | |
Post-employment medical insurance plan | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | ||||
Remeasurement of post-employment benefit obligation | 1 | (13) | ||
Total gains / (losses) recognized in other comprehensive income, before tax | [1] | 1 | (13) | (3) |
UK plan | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | ||||
Remeasurement of post-employment benefit obligation | 1 | (6) | ||
Total gains / (losses) recognized in other comprehensive income, before tax | 1 | (6) | 6 | |
US plans | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | ||||
Remeasurement of post-employment benefit obligation | 0 | (7) | ||
Total gains / (losses) recognized in other comprehensive income, before tax | 0 | (7) | (9) | |
UBS AG | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | ||||
Total gains / (losses) recognized in other comprehensive income, before tax | 299 | (876) | 322 | |
UBS AG | Post-employment medical insurance plan | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | ||||
Remeasurement of post-employment benefit obligation | 1 | (13) | ||
Total gains / (losses) recognized in other comprehensive income, before tax | [1] | 1 | (13) | (3) |
UBS AG | UK plan | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | ||||
Remeasurement of post-employment benefit obligation | 1 | (6) | ||
Total gains / (losses) recognized in other comprehensive income, before tax | 1 | (6) | 6 | |
UBS AG | US plans | ||||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Medical Insurance Plans [Line Items] | ||||
Remeasurement of post-employment benefit obligation | 0 | (7) | ||
Total gains / (losses) recognized in other comprehensive income, before tax | SFr 0 | SFr (7) | SFr (9) | |
[1] | Refer to Note 26b for more information. |
Medical insurance plans (Det211
Medical insurance plans (Detail 13) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | [1] | 2.55% | 2.69% |
Average health care cost trend rate - initial | [1] | 5.10% | 5.10% |
Average health care cost trend rate - ultimate | [1] | 5.10% | 5.10% |
US plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | [1],[2] | 3.54% | 3.97% |
Average health care cost trend rate - initial | [1],[2] | 7.99% | 7.03% |
Average health care cost trend rate - ultimate | [1],[2] | 4.50% | 4.50% |
UBS AG | UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | [1] | 2.55% | 2.69% |
Average health care cost trend rate - initial | [1] | 5.10% | 5.10% |
Average health care cost trend rate - ultimate | [1] | 5.10% | 5.10% |
UBS AG | US plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | [1],[2] | 3.54% | 3.97% |
Average health care cost trend rate - initial | [1],[2] | 7.99% | 7.03% |
Average health care cost trend rate - ultimate | [1],[2] | 4.50% | 4.50% |
[1] | The assumptions for life expectancies are provided within Note 26a. | ||
[2] | Represents weighted average assumptions across US plans. |
Medical insurance plans (Det212
Medical insurance plans (Detail 14) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
UK plan | Discount rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 50 basis points | [1] | SFr (2) | SFr (2) |
Decrease by 50 basis points | [1] | 2 | 2 |
UK plan | Average health care cost trend rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 100 basis points | [1] | 4 | 4 |
Decrease by 100 basis points | [1] | (3) | (3) |
UK plan | Life expectancy | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase in longevity by one additional year | [1] | 2 | 2 |
US plans | Discount rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 50 basis points | [1] | (3) | (3) |
Decrease by 50 basis points | [1] | 3 | 3 |
US plans | Average health care cost trend rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 100 basis points | [1] | 1 | 2 |
Decrease by 100 basis points | [1] | (1) | (1) |
US plans | Life expectancy | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase in longevity by one additional year | [1] | 4 | 5 |
UBS AG | UK plan | Discount rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 50 basis points | [1] | (2) | (2) |
Decrease by 50 basis points | [1] | 2 | 2 |
UBS AG | UK plan | Average health care cost trend rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 100 basis points | [1] | 4 | 4 |
Decrease by 100 basis points | [1] | (3) | (3) |
UBS AG | UK plan | Life expectancy | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase in longevity by one additional year | [1] | 2 | 2 |
UBS AG | US plans | Discount rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 50 basis points | [1] | (3) | (3) |
Decrease by 50 basis points | [1] | 3 | 3 |
UBS AG | US plans | Average health care cost trend rate | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase by 100 basis points | [1] | 1 | 2 |
Decrease by 100 basis points | [1] | (1) | (1) |
UBS AG | US plans | Life expectancy | |||
Increase/(decrease) in post-employment benefit obligation | |||
Increase in longevity by one additional year | [1] | SFr 4 | SFr 5 |
[1] | The sensitivity analyses are based on a change in one assumption while holding all other assumptions constant, so that interdependencies between the assumptions are excluded. |
Related party disclosure (Detai
Related party disclosure (Detail 15) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Received by UBS | |||
Fees | SFr 36 | SFr 36 | SFr 33 |
Paid by UBS | |||
Rent | 4 | 4 | 5 |
Dividends and capital repayments | 9 | 15 | 13 |
UBS AG | |||
Received by UBS | |||
Fees | 36 | 36 | 33 |
Paid by UBS | |||
Rent | 4 | 4 | 5 |
Dividends and capital repayments | SFr 9 | SFr 15 | SFr 13 |
Related party disclosure (De214
Related party disclosure (Detail 16) - CHF (SFr) shares in Thousands, SFr in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Financial instruments bought by pension funds | ||
UBS shares (in thousands of shares) | 905 | 2,427 |
UBS debt instruments (par values) | SFr 2 | SFr 0 |
Financial instruments sold by pension funds or matured | ||
UBS shares (in thousands of shares) | 2,897 | 1,618 |
UBS debt instruments (par values) | SFr 4 | SFr 0 |
UBS shares held by pension and other post-employment benefit plans | ||
Number of shares (in thousands of shares) | 16,370 | 18,363 |
Fair value | SFr 293 | SFr 293 |
UBS AG | ||
Financial instruments bought by pension funds | ||
UBS shares (in thousands of shares) | 905 | 2,427 |
UBS AG debt instruments (par values) | SFr 2 | SFr 0 |
Financial instruments sold by pension funds or matured | ||
UBS shares (in thousands of shares) | 2,897 | 1,618 |
UBS AG debt instruments (par values) | SFr 4 | SFr 0 |
UBS shares held by pension and other post-employment benefit plans | ||
Number of shares (in thousands of shares) | 16,370 | 18,363 |
Fair value | SFr 293 | SFr 293 |
Employee benefits_ variable 215
Employee benefits: variable compensation (Narrative) (Detail 1) shares in Millions | 12 Months Ended | ||||||
Dec. 31, 2017CHF (SFr)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016CHF (SFr)shares | Dec. 31, 2015CHF (SFr) | ||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Share delivery obligations | shares | 166 | 166 | 166 | ||||
Expense From Sharebased Payment Transactions With Employees | SFr 698,000,000 | SFr 820,000,000 | SFr 858,000,000 | ||||
Variable compensation expense | 3,090,000,000 | [1] | SFr 2,972,000,000 | [1] | 3,210,000,000 | [1] | |
Deferred Contingent Capital Plan | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Minimum total compensation of employees to whom deferred cash awards are granted | SFr 300,000 | ||||||
Minimum total compensation of employees (in USD) to whom deferred cash awards are granted | $ | $ 300,000 | ||||||
Minimum CET1 capital ratio to trigger a write-down of awards granted under the DCCP for GEB members | 10.00% | 10.00% | |||||
Minimum CET1 capital ratio to trigger a write-down of awards granted under the DCCP for non-GEB members | 7.00% | 7.00% | |||||
Percentage of awards that GEB members forfeit for each year during the vesting period in which UBS does not achieve an adjusted profit before tax | 20.00% | 20.00% | |||||
Deferred Contingent Capital Plan | Accounting Estimates Deferred Compensation [Member] | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Variable compensation expense | SFr 36,000,000 | ||||||
Deferred Contingent Capital Plan | Investment Bank | Accounting Estimates Deferred Compensation [Member] | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Variable compensation expense | SFr 25,000,000 | ||||||
Long-Term Deferred Retention Senior Incentive Scheme | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Explanation Of Share Options In Sharebased Payment Arrangement | Awards under the LTDRSIS were granted to employees in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid installments to be reduced if the business recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. | Awards under the LTDRSIS were granted to employees in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid installments to be reduced if the business recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. | |||||
Description of vesting requirements for non-share-based compensation plans | Awards vested after three years | Awards vested after three years | |||||
Asset Management EOP | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Description of other non-share-based compensation plans | In order to align deferred compensation of certain Asset Management employees with the performance of the investment funds they manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | In order to align deferred compensation of certain Asset Management employees with the performance of the investment funds they manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | |||||
Financial advisor compensation | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Description of vesting requirements for non-share-based compensation plans | vest over various time periods of up to 10 years | vest over various time periods of up to 10 years | |||||
Strategic objective awards | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Description of other non-share-based compensation plans | Strategic objective awards are deferred compensation awards based on strategic performance measures, including production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards with a vesting period of up to 6 years. Through performance year 2016, strategic objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS company contributions), participants were also allowed to voluntarily contribute additional amounts otherwise payable as production payout up to a certain percentage, which vest upon contribution. Company contributions and voluntary contributions are credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a participant may elect to have voluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to ten years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeitable under certain circumstances. | Strategic objective awards are deferred compensation awards based on strategic performance measures, including production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards with a vesting period of up to 6 years. Through performance year 2016, strategic objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS company contributions), participants were also allowed to voluntarily contribute additional amounts otherwise payable as production payout up to a certain percentage, which vest upon contribution. Company contributions and voluntary contributions are credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a participant may elect to have voluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to ten years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeitable under certain circumstances. | |||||
Description of vesting requirements for non-share-based compensation plans | Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to ten years following grant date. | Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to ten years following grant date. | |||||
Growth Plus | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Description of other non-share-based compensation plans | GrowthPlus is a compensation plan for selected financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and early 2018. The awards are distributed over seven years, with the exception of 2018 awards, which will be distributed over five years. | GrowthPlus is a compensation plan for selected financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and early 2018. The awards are distributed over seven years, with the exception of 2018 awards, which will be distributed over five years. | |||||
Awards distribution period for non-2018 arrangements | 7 years | 7 years | |||||
Awards distribution period for 2018 arrangements | 5 years | 5 years | |||||
Equity Ownership Plan | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Explanation Of Share Options In Sharebased Payment Arrangement | The EOP is a mandatory deferred compensation plan for all employees with total compensation greater than CHF / USD 300,000. These employees receive at least 60% of their deferred performance award under the EOP in notional shares. EOP awards granted to GEB members and certain other employees only vest if both Group and business division performance conditions are met. Group performance is measured based on the average adjusted return on tangible equity (RoTE) excluding deferred tax assets over the performance period. Business division performance is measured on the basis of the business division’s average adjusted return on attributed equity (RoAE). For Corporate Center employees, it is measured on the basis of the average operating businesses RoAE. Certain awards, such as replacement awards issued outside the normal performance year cycle, may take the form of deferred cash under the EOP plan rules. Notional shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted before February 2014 have no rights to dividends, whereas awards granted since February 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, awards that have been granted in February 2018 for the performance year 2017 to individuals who are deemed to be Material Risk Takers (MRTs) based on regulatory guidance in the EU do not carry such a dividend equivalent. Awards are settled by delivering UBS shares at vesting, except in jurisdictions where this is not permitted for legal or tax reasons. EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | The EOP is a mandatory deferred compensation plan for all employees with total compensation greater than CHF / USD 300,000. These employees receive at least 60% of their deferred performance award under the EOP in notional shares. EOP awards granted to GEB members and certain other employees only vest if both Group and business division performance conditions are met. Group performance is measured based on the average adjusted return on tangible equity (RoTE) excluding deferred tax assets over the performance period. Business division performance is measured on the basis of the business division’s average adjusted return on attributed equity (RoAE). For Corporate Center employees, it is measured on the basis of the average operating businesses RoAE. Certain awards, such as replacement awards issued outside the normal performance year cycle, may take the form of deferred cash under the EOP plan rules. Notional shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted before February 2014 have no rights to dividends, whereas awards granted since February 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, awards that have been granted in February 2018 for the performance year 2017 to individuals who are deemed to be Material Risk Takers (MRTs) based on regulatory guidance in the EU do not carry such a dividend equivalent. Awards are settled by delivering UBS shares at vesting, except in jurisdictions where this is not permitted for legal or tax reasons. EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | |||||
Minimum total compensation of employees to whom share awards are granted | SFr 300,000 | ||||||
Minimum total compensation of employees (in USD) to whom share awards are granted | $ | $ 300,000 | ||||||
Description Of Vesting Requirements For Sharebased Payment Arrangement | EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). | EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). | |||||
Equity Ownership Plan | Min. | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Proportion of deferred performance awards in notional shares | 60.00% | 60.00% | |||||
Equity Plus Plan | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Explanation Of Share Options In Sharebased Payment Arrangement | Equity Plus is a voluntary share-based compensation plan that provides eligible employees with the opportunity to purchase UBS shares at market value and receive one notional share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years from the start of the associated plan year and, in general, if the employee remains in employment, the notional shares vest. For notional shares granted since April 2014, employees are entitled to receive a dividend equivalent, which may be paid in notional shares and / or cash. Role-based allowances (RBAs): Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allowance reflects the market value of a specific role and is only paid as long as the employee is within such a role. RBAs are offered in line with market practice and are generally paid in cash. In the UK, RBAs are awarded in cash and, above a certain threshold, in blocked UBS shares. Such shares will be unblocked in equal installments after two and three years. The compensation expense is recognized in the year of grant. | Equity Plus is a voluntary share-based compensation plan that provides eligible employees with the opportunity to purchase UBS shares at market value and receive one notional share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years from the start of the associated plan year and, in general, if the employee remains in employment, the notional shares vest. For notional shares granted since April 2014, employees are entitled to receive a dividend equivalent, which may be paid in notional shares and / or cash. Role-based allowances (RBAs): Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allowance reflects the market value of a specific role and is only paid as long as the employee is within such a role. RBAs are offered in line with market practice and are generally paid in cash. In the UK, RBAs are awarded in cash and, above a certain threshold, in blocked UBS shares. Such shares will be unblocked in equal installments after two and three years. The compensation expense is recognized in the year of grant. | |||||
KESAP And KESOP | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Explanation Of Share Options In Sharebased Payment Arrangement | Until 2009, certain key and high-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the date of grant. A SAR gives employees the right to receive a number of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s strike price. SARs and options are settled by delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. | Until 2009, certain key and high-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the date of grant. A SAR gives employees the right to receive a number of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s strike price. SARs and options are settled by delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. | |||||
Senior Executive Stock Option Plan | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Explanation Of Share Options In Sharebased Payment Arrangement | Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the fair market value of a UBS share on the grant date. These awards vested in full following a three-year vesting period and generally expire ten years from the grant date. No SESOP awards have been granted since 2008. | Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the fair market value of a UBS share on the grant date. These awards vested in full following a three-year vesting period and generally expire ten years from the grant date. No SESOP awards have been granted since 2008. | |||||
Description Of Vesting Requirements For Sharebased Payment Arrangement | These awards vested in full following a three-year vesting period and generally expire ten years from the grant date. No SESOP awards have been granted since 2008. | These awards vested in full following a three-year vesting period and generally expire ten years from the grant date. No SESOP awards have been granted since 2008. | |||||
Percentage of fair market value of a UBS share on the grant date used to determine the strike price of UBS options | 110.00% | 110.00% | |||||
UBS AG | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Share delivery obligations | shares | 166 | 166 | 166 | ||||
Expense From Sharebased Payment Transactions With Employees | SFr 713,000,000 | SFr 819,000,000 | 858,000,000 | ||||
Variable compensation expense | 2,996,000,000 | [1] | SFr 2,963,000,000 | [1] | SFr 3,209,000,000 | [1] | |
UBS AG | Deferred Contingent Capital Plan | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Minimum total compensation of employees to whom deferred cash awards are granted | SFr 300,000 | ||||||
Minimum total compensation of employees (in USD) to whom deferred cash awards are granted | $ | $ 300,000 | ||||||
Minimum CET1 capital ratio to trigger a write-down of awards granted under the DCCP for GEB members | 10.00% | 10.00% | |||||
Minimum CET1 capital ratio to trigger a write-down of awards granted under the DCCP for non-GEB members | 7.00% | 7.00% | |||||
Percentage of awards that GEB members forfeit for each year during the vesting period in which UBS does not achieve an adjusted profit before tax | 20.00% | 20.00% | |||||
UBS AG | Deferred Contingent Capital Plan | Accounting Estimates Deferred Compensation [Member] | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Variable compensation expense | SFr 36,000,000 | ||||||
UBS AG | Deferred Contingent Capital Plan | Investment Bank | Accounting Estimates Deferred Compensation [Member] | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Variable compensation expense | SFr 25,000,000 | ||||||
UBS AG | Long-Term Deferred Retention Senior Incentive Scheme | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Explanation Of Share Options In Sharebased Payment Arrangement | Awards under the LTDRSIS were granted to employees in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid installments to be reduced if the business recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. | Awards under the LTDRSIS were granted to employees in Australia up to and including 2014 and represented a profit share amount based on the profitability of the Australian business. Awards vested after three years and included an arrangement that allowed for unpaid installments to be reduced if the business recorded a loss for the calendar year preceding vesting. The awards were generally forfeitable upon voluntary termination of employment with UBS. | |||||
Description of vesting requirements for non-share-based compensation plans | Awards vested after three years | Awards vested after three years | |||||
UBS AG | Asset Management EOP | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Description of other non-share-based compensation plans | In order to align deferred compensation of certain Asset Management employees with the performance of the investment funds they manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | In order to align deferred compensation of certain Asset Management employees with the performance of the investment funds they manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the value of the underlying investment funds at the time of vesting. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | |||||
UBS AG | Financial advisor compensation | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Description of vesting requirements for non-share-based compensation plans | vest over various time periods of up to 10 years | vest over various time periods of up to 10 years | |||||
UBS AG | Strategic objective awards | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Description of other non-share-based compensation plans | Strategic objective awards are deferred compensation awards based on strategic performance measures, including production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards with a vesting period of up to six years. Through performance year 2016, strategic objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS AG company contributions), participants were also allowed to voluntarily contribute additional amounts otherwise payable as production payout up to a certain percentage, which vest upon contribution. Company contributions and voluntary contributions are credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a participant may elect to have voluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to ten years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeitable under certain circumstances. | Strategic objective awards are deferred compensation awards based on strategic performance measures, including production, length of service with the firm and net new business. These awards are granted in the form of both deferred share-based and deferred cash-based awards with a vesting period of up to six years. Through performance year 2016, strategic objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS AG company contributions), participants were also allowed to voluntarily contribute additional amounts otherwise payable as production payout up to a certain percentage, which vest upon contribution. Company contributions and voluntary contributions are credited with interest in accordance with the terms of the plan. Rather than being credited with interest, a participant may elect to have voluntary contributions, along with vested company contributions, credited with notional earnings based on the performance of various mutual funds. Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to ten years following grant date. Company contributions and interest on notional earnings on both company and voluntary contributions are forfeitable under certain circumstances. | |||||
Description of vesting requirements for non-share-based compensation plans | Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to ten years following grant date. | Company contributions and interest on both company and voluntary contributions ratably vest in 20% installments six to ten years following grant date. | |||||
UBS AG | Growth Plus | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Description of other non-share-based compensation plans | GrowthPlus is a compensation plan for selected financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and early 2018. The awards are distributed over seven years, with the exception of 2018 awards, which will be distributed over five years. | GrowthPlus is a compensation plan for selected financial advisors whose revenue production and length of service exceed defined thresholds from 2010 through 2017. Awards were granted in 2010, 2011, 2015 and early 2018. The awards are distributed over seven years, with the exception of 2018 awards, which will be distributed over five years. | |||||
Awards distribution period for non-2018 arrangements | 7 years | 7 years | |||||
Awards distribution period for 2018 arrangements | 5 years | 5 years | |||||
UBS AG | Equity Ownership Plan | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Explanation Of Share Options In Sharebased Payment Arrangement | The EOP is a mandatory deferred compensation plan for all employees with total compensation greater than CHF / USD 300,000. These employees receive at least 60% of their deferred performance award under the EOP in notional shares. EOP awards granted to GEB members and certain other employees only vest if both Group and business division performance conditions are met. Group performance is measured based on the average adjusted return on tangible equity (RoTE) excluding deferred tax assets over the performance period. Business division performance is measured on the basis of the business division’s average adjusted return on attributed equity (RoAE). For Corporate Center employees, it is measured on the basis of the average operating businesses RoAE. Certain awards, such as replacement awards issued outside the normal performance year cycle, may take the form of deferred cash under the EOP plan rules. Notional shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted before February 2014 have no rights to dividends, whereas awards granted since February 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, awards that have been granted in February 2018 for the performance year 2017 to individuals who are deemed to be Material Risk Takers (MRTs) based on regulatory guidance in the EU do not carry such a dividend equivalent. Awards are settled by delivering UBS shares at vesting, except in jurisdictions where this is not permitted for legal or tax reasons. EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | The EOP is a mandatory deferred compensation plan for all employees with total compensation greater than CHF / USD 300,000. These employees receive at least 60% of their deferred performance award under the EOP in notional shares. EOP awards granted to GEB members and certain other employees only vest if both Group and business division performance conditions are met. Group performance is measured based on the average adjusted return on tangible equity (RoTE) excluding deferred tax assets over the performance period. Business division performance is measured on the basis of the business division’s average adjusted return on attributed equity (RoAE). For Corporate Center employees, it is measured on the basis of the average operating businesses RoAE. Certain awards, such as replacement awards issued outside the normal performance year cycle, may take the form of deferred cash under the EOP plan rules. Notional shares represent a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. Notional shares granted before February 2014 have no rights to dividends, whereas awards granted since February 2014 carry a dividend equivalent that may be paid in notional shares or cash and that vests on the same terms and conditions as the awards. However, awards that have been granted in February 2018 for the performance year 2017 to individuals who are deemed to be Material Risk Takers (MRTs) based on regulatory guidance in the EU do not carry such a dividend equivalent. Awards are settled by delivering UBS shares at vesting, except in jurisdictions where this is not permitted for legal or tax reasons. EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. | |||||
Minimum total compensation of employees to whom share awards are granted | SFr 300,000 | ||||||
Minimum total compensation of employees (in USD) to whom share awards are granted | $ | $ 300,000 | ||||||
Description Of Vesting Requirements For Sharebased Payment Arrangement | EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). | EOP awards generally vest in equal installments after two and three years following grant (for GEB members, generally after three, four and five years). | |||||
UBS AG | Equity Ownership Plan | Min. | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Proportion of deferred performance awards in notional shares | 60.00% | 60.00% | |||||
UBS AG | Equity Plus Plan | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Explanation Of Share Options In Sharebased Payment Arrangement | Equity Plus is a voluntary share-based compensation plan that provides eligible employees with the opportunity to purchase UBS shares at market value and receive one notional share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years from the start of the associated plan year and, in general, if the employee remains in employment, the notional shares vest. For notional shares granted since April 2014, employees are entitled to receive a dividend equivalent, which may be paid in notional shares and / or cash. Role-based allowances (RBAs): Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allowance reflects the market value of a specific role and is only paid as long as the employee is within such a role. RBAs are offered in line with market practice and are generally paid in cash. In the UK, RBAs are awarded in cash and, above a certain threshold, in blocked UBS shares. Such shares will be unblocked in equal installments after two and three years. The compensation expense is recognized in the year of grant. | Equity Plus is a voluntary share-based compensation plan that provides eligible employees with the opportunity to purchase UBS shares at market value and receive one notional share for every three shares purchased, up to a maximum annual limit. Share purchases may be made annually from the performance award and / or monthly through deductions from salary. If the shares purchased are held until three years from the start of the associated plan year and, in general, if the employee remains in employment, the notional shares vest. For notional shares granted since April 2014, employees are entitled to receive a dividend equivalent, which may be paid in notional shares and / or cash. Role-based allowances (RBAs): Certain employees of legal entities regulated in the EU may receive an RBA in addition to their base salary. This allowance reflects the market value of a specific role and is only paid as long as the employee is within such a role. RBAs are offered in line with market practice and are generally paid in cash. In the UK, RBAs are awarded in cash and, above a certain threshold, in blocked UBS shares. Such shares will be unblocked in equal installments after two and three years. The compensation expense is recognized in the year of grant. | |||||
UBS AG | KESAP And KESOP | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Explanation Of Share Options In Sharebased Payment Arrangement | Until 2009, certain key and high-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the date of grant. A SAR gives employees the right to receive a number of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s strike price. SARs and options are settled by delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. | Until 2009, certain key and high-potential employees were granted discretionary share-settled stock appreciation rights (SARs) or options on UBS shares with a strike price not less than the market value of a UBS share on the date of grant. A SAR gives employees the right to receive a number of UBS shares equal to the value of any market price increase of a UBS share between the grant date and the exercise date. One option entitles the holder to acquire one registered UBS share at the option’s strike price. SARs and options are settled by delivering UBS shares, except in jurisdictions where this is not permitted for legal reasons. No options or SARs awards have been granted since 2009. | |||||
UBS AG | Senior Executive Stock Option Plan | |||||||
Equity Participation And Other Compensation Plans [Line Items] | |||||||
Explanation Of Share Options In Sharebased Payment Arrangement | Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the fair market value of a UBS share on the grant date. These awards vested in full following a three-year vesting period and generally expire ten years from the grant date. No SESOP awards have been granted since 2008. | Up to February 2008, GEB members and selected senior executives were granted UBS options with a strike price set at 110% of the fair market value of a UBS share on the grant date. These awards vested in full following a three-year vesting period and generally expire ten years from the grant date. No SESOP awards have been granted since 2008. | |||||
Description Of Vesting Requirements For Sharebased Payment Arrangement | These awards vested in full following a three-year vesting period and generally expire ten years from the grant date. No SESOP awards have been granted since 2008. | These awards vested in full following a three-year vesting period and generally expire ten years from the grant date. No SESOP awards have been granted since 2008. | |||||
Percentage of fair market value of a UBS share on the grant date used to determine the strike price of UBS options | 110.00% | 110.00% | |||||
[1] | Refer to Note 27 for more information. |
Employee benefits_ variable 216
Employee benefits: variable compensation (Narrative) (Detail 2) SFr in Millions | 12 Months Ended | |
Dec. 31, 2017CHF (SFr)shares | Dec. 31, 2016CHF (SFr)shares | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Additional shares that could have been issued to fund UBS's employee share option programs | 127,664,622 | 130,000,000 |
Description of when the majority of awards were granted | February 2,018 | |
UBS option awards that have been granted since 2009 | 0 | 0 |
UBS SAR awards that have been granted since 2009 | 0 | 0 |
Weighted average discount for share and performance share awards granted | 20.20% | 18.10% |
Carrying amount of liability related to cash-settled share-based awards | SFr | SFr 55 | SFr 50 |
Unvested share-based awards | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Weighted average remaining contractual term (years) | 2.1 | |
UBS AG | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Description of when the majority of awards were granted | February 2,018 | |
Carrying amount of liability related to cash-settled share-based awards | SFr | SFr 5 | SFr 7 |
UBS AG | Unvested share-based awards | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Weighted average remaining contractual term (years) | 2.1 |
Employee benefits_ variable 217
Employee benefits: variable compensation (Detail 1) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | SFr 7,324 | [1] | SFr 7,087 | [2] | SFr 7,108 | [3] | |
Personnel expenses deferred to the next and following years | 5,052 | 5,806 | 6,449 | ||||
Personnel expenses related to share-based compensation | 698 | 820 | 858 | ||||
Personnel expenses related to share-based compensation - performance awards | 572 | 699 | 722 | ||||
Personnel expenses related to share-based compensation - other variable compensation | 26 | 40 | 54 | ||||
Personnel expenses related to share-based compensation - Wealth Management Americas financial advisor compensation | 100 | 81 | 82 | ||||
Personnel expenses related to share-based compensation recognized within other Note 6 expense categories | 99 | 90 | 108 | ||||
Salaries related to share-based compensation | 25 | 39 | 26 | ||||
Social security related to share-based compensation | 50 | 27 | 61 | ||||
Personnel expenses related to share-based compensation - Equity Plus Plan | 25 | 24 | 21 | ||||
Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 5,613 | 5,152 | 5,391 | ||||
Personnel expenses deferred to the next and following years | 1,294 | 1,637 | 2,864 | ||||
Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,712 | 1,935 | 1,716 | ||||
Personnel expenses deferred to the next and following years | 3,758 | 4,169 | 3,585 | ||||
Total variable compensation - performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,090 | 2,972 | 3,210 | ||||
Personnel expenses deferred to the next and following years | 1,270 | 1,527 | 1,722 | ||||
Total variable compensation - performance awards | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,439 | 2,191 | 2,535 | ||||
Personnel expenses deferred to the next and following years | 590 | 671 | 900 | ||||
Total variable compensation - performance awards | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 651 | 781 | 675 | ||||
Personnel expenses deferred to the next and following years | 679 | 856 | 822 | ||||
Non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,022 | 1,775 | 1,980 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Non-deferred cash | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,047 | 1,817 | 2,073 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Non-deferred cash | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (25) | (42) | (94) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Deferred Compensation Awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,068 | 1,198 | 1,230 | ||||
Personnel expenses deferred to the next and following years | 1,270 | 1,527 | 1,722 | ||||
Deferred Compensation Awards | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 392 | 373 | 461 | ||||
Personnel expenses deferred to the next and following years | 590 | 671 | 900 | ||||
Deferred Compensation Awards | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 676 | 825 | 769 | ||||
Personnel expenses deferred to the next and following years | 679 | 856 | 822 | ||||
of which: Equity Ownership Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 572 | 699 | 722 | ||||
Personnel expenses deferred to the next and following years | 607 | 727 | 861 | ||||
of which: Equity Ownership Plan | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 235 | 214 | 261 | ||||
Personnel expenses deferred to the next and following years | 323 | 372 | 524 | ||||
of which: Equity Ownership Plan | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 337 | 485 | 461 | ||||
Personnel expenses deferred to the next and following years | 284 | 356 | 338 | ||||
of which: Deferred Contingent Capital Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 437 | 428 | 429 | ||||
Personnel expenses deferred to the next and following years | 607 | 735 | 789 | ||||
of which: Deferred Contingent Capital Plan | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 132 | 133 | 172 | ||||
Personnel expenses deferred to the next and following years | 241 | 266 | 343 | ||||
of which: Deferred Contingent Capital Plan | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 304 | 295 | 258 | ||||
Personnel expenses deferred to the next and following years | 367 | 468 | 446 | ||||
of which: Asset Management EOP | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 55 | 65 | 67 | ||||
Personnel expenses deferred to the next and following years | 52 | 60 | 69 | ||||
of which: Asset Management EOP | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 25 | 26 | 28 | ||||
Personnel expenses deferred to the next and following years | 27 | 34 | 34 | ||||
of which: Asset Management EOP | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 31 | 39 | 38 | ||||
Personnel expenses deferred to the next and following years | 26 | 27 | 35 | ||||
of which: Other performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 4 | 6 | 12 | ||||
Personnel expenses deferred to the next and following years | 3 | 5 | 3 | ||||
of which: Other performance awards | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
of which: Other performance awards | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 4 | 6 | 12 | ||||
Personnel expenses deferred to the next and following years | 3 | 5 | 3 | ||||
Total Wealth Management Americas: Financial advisor compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,986 | 3,697 | 3,552 | ||||
Personnel expenses deferred to the next and following years | 3,300 | 3,816 | 4,186 | ||||
Total Wealth Management Americas: Financial advisor compensation | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,025 | 2,695 | 2,673 | ||||
Personnel expenses deferred to the next and following years | 513 | 804 | 1,716 | ||||
Total Wealth Management Americas: Financial advisor compensation | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 962 | 1,002 | 879 | ||||
Personnel expenses deferred to the next and following years | 2,788 | 3,013 | 2,470 | ||||
Financial advisor compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,247 | 2,898 | 2,816 | ||||
Personnel expenses deferred to the next and following years | 932 | 1,089 | 1,347 | ||||
Financial advisor compensation | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,995 | 2,651 | 2,629 | ||||
Personnel expenses deferred to the next and following years | 153 | 196 | 776 | ||||
Financial advisor compensation | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 252 | 247 | 187 | ||||
Personnel expenses deferred to the next and following years | 779 | 893 | 571 | ||||
of which: non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,836 | 2,506 | 2,460 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
of which: non-deferred cash | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,836 | 2,506 | 2,460 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
of which: non-deferred cash | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
of which: deferred share-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 100 | 81 | 82 | ||||
Personnel expenses deferred to the next and following years | 186 | 177 | 182 | ||||
of which: deferred share-based awards | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 56 | 33 | 37 | ||||
Personnel expenses deferred to the next and following years | 69 | 57 | 66 | ||||
of which: deferred share-based awards | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 44 | 48 | 45 | ||||
Personnel expenses deferred to the next and following years | 117 | 120 | 115 | ||||
of which: deferred cash-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 311 | 311 | 275 | ||||
Personnel expenses deferred to the next and following years | 746 | 912 | 1,166 | ||||
of which: deferred cash-based awards | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 102 | 112 | 132 | ||||
Personnel expenses deferred to the next and following years | 84 | 139 | 710 | ||||
of which: deferred cash-based awards | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 209 | 199 | 142 | ||||
Personnel expenses deferred to the next and following years | 662 | 773 | 456 | ||||
Compensation commitments with recruited financial advisors | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [4] | 740 | 799 | 735 | |||
Personnel expenses deferred to the next and following years | [4] | 2,369 | 2,727 | 2,839 | |||
Compensation commitments with recruited financial advisors | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [4] | 30 | 43 | 43 | |||
Personnel expenses deferred to the next and following years | [4] | 360 | 607 | 940 | |||
Compensation commitments with recruited financial advisors | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [4] | 710 | 756 | 692 | |||
Personnel expenses deferred to the next and following years | [4] | 2,009 | 2,120 | 1,899 | |||
Total variable compensation - other | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 248 | 418 | 346 | ||||
Personnel expenses deferred to the next and following years | 482 | 463 | 541 | ||||
Total variable compensation - other | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 148 | 266 | 184 | ||||
Personnel expenses deferred to the next and following years | 191 | 162 | 248 | ||||
Total variable compensation - other | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 99 | 151 | 162 | ||||
Personnel expenses deferred to the next and following years | 291 | 301 | 293 | ||||
Replacement payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 71 | 86 | 76 | ||||
Personnel expenses deferred to the next and following years | 126 | 71 | 114 | ||||
Replacement payments | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 13 | 24 | 11 | ||||
Personnel expenses deferred to the next and following years | 84 | 40 | 72 | ||||
Replacement payments | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 58 | 62 | 65 | ||||
Personnel expenses deferred to the next and following years | 42 | 31 | 41 | ||||
Forfeiture credits | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (105) | (73) | (86) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Forfeiture credits | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Forfeiture credits | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (105) | (73) | (86) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Severance payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 111 | 217 | 157 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Severance payments | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 111 | 217 | 157 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Severance payments | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
Retention plan and other payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 62 | 74 | 117 | ||||
Personnel expenses deferred to the next and following years | 61 | 50 | 67 | ||||
Retention plan and other payments | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 25 | 25 | 15 | ||||
Personnel expenses deferred to the next and following years | 30 | 24 | 15 | ||||
Retention plan and other payments | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 37 | 49 | 102 | ||||
Personnel expenses deferred to the next and following years | 32 | 27 | 52 | ||||
Deferred Contingent Capital Plan: interest expense | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 109 | 113 | 81 | ||||
Personnel expenses deferred to the next and following years | 294 | 341 | 360 | ||||
Deferred Contingent Capital Plan: interest expense | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 78 | 98 | 160 | ||||
Deferred Contingent Capital Plan: interest expense | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 109 | 113 | 81 | ||||
Personnel expenses deferred to the next and following years | 216 | 243 | 200 | ||||
UBS AG | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 7,209 | [5] | 7,107 | [6] | |||
Personnel expenses deferred to the next and following years | 5,013 | 6,449 | |||||
Personnel expenses related to share-based compensation | 713 | 819 | 858 | ||||
Personnel expenses related to share-based compensation - performance awards | 588 | 698 | 722 | ||||
Personnel expenses related to share-based compensation - other variable compensation | 25 | 40 | 54 | ||||
Personnel expenses related to share-based compensation - Wealth Management Americas financial advisor compensation | 100 | 81 | 82 | ||||
Personnel expenses related to share-based compensation recognized within other Note 6 expense categories | 95 | 90 | 108 | ||||
Salaries related to share-based compensation | 25 | 39 | 26 | ||||
Social security related to share-based compensation | 48 | 27 | 61 | ||||
Personnel expenses related to share-based compensation - Equity Plus Plan | 22 | 24 | 21 | ||||
UBS AG | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 5,483 | 5,391 | |||||
Personnel expenses deferred to the next and following years | 1,274 | 2,864 | |||||
UBS AG | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,727 | 1,716 | |||||
Personnel expenses deferred to the next and following years | 3,739 | 3,585 | |||||
UBS AG | Total variable compensation - performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,996 | 2,963 | 3,209 | ||||
Personnel expenses deferred to the next and following years | 1,243 | 1,527 | 1,722 | ||||
UBS AG | Total variable compensation - performance awards | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,329 | 2,181 | 2,534 | ||||
Personnel expenses deferred to the next and following years | 575 | 671 | 900 | ||||
UBS AG | Total variable compensation - performance awards | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 667 | 782 | 675 | ||||
Personnel expenses deferred to the next and following years | 668 | 856 | 822 | ||||
UBS AG | Non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,920 | 1,767 | 1,979 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Non-deferred cash | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,944 | 1,808 | 2,073 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Non-deferred cash | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (24) | (41) | (94) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Deferred Compensation Awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,076 | 1,196 | 1,230 | ||||
Personnel expenses deferred to the next and following years | 1,243 | 1,527 | 1,722 | ||||
UBS AG | Deferred Compensation Awards | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 385 | 373 | 461 | ||||
Personnel expenses deferred to the next and following years | 575 | 671 | 900 | ||||
UBS AG | Deferred Compensation Awards | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 691 | 823 | 769 | ||||
Personnel expenses deferred to the next and following years | 668 | 856 | 822 | ||||
UBS AG | of which: Equity Ownership Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 588 | 698 | 722 | ||||
Personnel expenses deferred to the next and following years | 593 | 727 | 861 | ||||
UBS AG | of which: Equity Ownership Plan | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 231 | 214 | 261 | ||||
Personnel expenses deferred to the next and following years | 314 | 372 | 524 | ||||
UBS AG | of which: Equity Ownership Plan | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 357 | 484 | 461 | ||||
Personnel expenses deferred to the next and following years | 279 | 356 | 338 | ||||
UBS AG | of which: Deferred Contingent Capital Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 429 | 428 | 429 | ||||
Personnel expenses deferred to the next and following years | 594 | 735 | 789 | ||||
UBS AG | of which: Deferred Contingent Capital Plan | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 130 | 133 | 172 | ||||
Personnel expenses deferred to the next and following years | 234 | 266 | 343 | ||||
UBS AG | of which: Deferred Contingent Capital Plan | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 299 | 295 | 258 | ||||
Personnel expenses deferred to the next and following years | 360 | 468 | 446 | ||||
UBS AG | of which: Asset Management EOP | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 55 | 65 | 67 | ||||
Personnel expenses deferred to the next and following years | 52 | 60 | 69 | ||||
UBS AG | of which: Asset Management EOP | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 25 | 26 | 28 | ||||
Personnel expenses deferred to the next and following years | 27 | 34 | 34 | ||||
UBS AG | of which: Asset Management EOP | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 31 | 39 | 38 | ||||
Personnel expenses deferred to the next and following years | 26 | 27 | 35 | ||||
UBS AG | of which: Other performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 4 | 6 | 12 | ||||
Personnel expenses deferred to the next and following years | 3 | 5 | 3 | ||||
UBS AG | of which: Other performance awards | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | of which: Other performance awards | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 4 | 6 | 12 | ||||
Personnel expenses deferred to the next and following years | 3 | 5 | 3 | ||||
UBS AG | Total Wealth Management Americas: Financial advisor compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,986 | 3,697 | 3,552 | ||||
Personnel expenses deferred to the next and following years | 3,300 | 3,816 | 4,186 | ||||
UBS AG | Total Wealth Management Americas: Financial advisor compensation | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,025 | 2,695 | 2,673 | ||||
Personnel expenses deferred to the next and following years | 513 | 804 | 1,716 | ||||
UBS AG | Total Wealth Management Americas: Financial advisor compensation | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 962 | 1,002 | 879 | ||||
Personnel expenses deferred to the next and following years | 2,788 | 3,013 | 2,470 | ||||
UBS AG | Financial advisor compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,247 | 2,898 | 2,816 | ||||
Personnel expenses deferred to the next and following years | 932 | 1,089 | 1,347 | ||||
UBS AG | Financial advisor compensation | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,995 | 2,651 | 2,629 | ||||
Personnel expenses deferred to the next and following years | 153 | 196 | 776 | ||||
UBS AG | Financial advisor compensation | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 252 | 247 | 187 | ||||
Personnel expenses deferred to the next and following years | 779 | 893 | 571 | ||||
UBS AG | of which: non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,836 | 2,506 | 2,460 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | of which: non-deferred cash | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,836 | 2,506 | 2,460 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | of which: non-deferred cash | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | of which: deferred share-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 100 | 81 | 82 | ||||
Personnel expenses deferred to the next and following years | 186 | 177 | 182 | ||||
UBS AG | of which: deferred share-based awards | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 56 | 33 | 37 | ||||
Personnel expenses deferred to the next and following years | 69 | 57 | 66 | ||||
UBS AG | of which: deferred share-based awards | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 44 | 48 | 45 | ||||
Personnel expenses deferred to the next and following years | 117 | 120 | 115 | ||||
UBS AG | of which: deferred cash-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 311 | 311 | 275 | ||||
Personnel expenses deferred to the next and following years | 746 | 912 | 1,166 | ||||
UBS AG | of which: deferred cash-based awards | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 102 | 112 | 132 | ||||
Personnel expenses deferred to the next and following years | 84 | 139 | 710 | ||||
UBS AG | of which: deferred cash-based awards | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 209 | 199 | 142 | ||||
Personnel expenses deferred to the next and following years | 662 | 773 | 456 | ||||
UBS AG | Compensation commitments with recruited financial advisors | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [4] | 740 | 799 | 735 | |||
Personnel expenses deferred to the next and following years | [4] | 2,369 | 2,727 | 2,839 | |||
UBS AG | Compensation commitments with recruited financial advisors | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [4] | 30 | 43 | 43 | |||
Personnel expenses deferred to the next and following years | [4] | 360 | 607 | 940 | |||
UBS AG | Compensation commitments with recruited financial advisors | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [4] | 710 | 756 | 692 | |||
Personnel expenses deferred to the next and following years | [4] | 2,009 | 2,120 | 1,899 | |||
UBS AG | Total variable compensation - other | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 227 | 418 | 346 | ||||
Personnel expenses deferred to the next and following years | 470 | 463 | 541 | ||||
UBS AG | Total variable compensation - other | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 129 | 265 | 184 | ||||
Personnel expenses deferred to the next and following years | 186 | 162 | 248 | ||||
UBS AG | Total variable compensation - other | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 98 | 151 | 162 | ||||
Personnel expenses deferred to the next and following years | 283 | 301 | 293 | ||||
UBS AG | Replacement payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 69 | 86 | 76 | ||||
Personnel expenses deferred to the next and following years | 119 | 71 | 114 | ||||
UBS AG | Replacement payments | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 12 | 24 | 11 | ||||
Personnel expenses deferred to the next and following years | 79 | 40 | 72 | ||||
UBS AG | Replacement payments | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 57 | 62 | 65 | ||||
Personnel expenses deferred to the next and following years | 40 | 31 | 41 | ||||
UBS AG | Forfeiture credits | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (104) | (73) | (86) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Forfeiture credits | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Forfeiture credits | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (104) | (73) | (86) | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Severance payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 93 | 217 | 157 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Severance payments | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 93 | 217 | 157 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Severance payments | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 0 | 0 | 0 | ||||
UBS AG | Retention plan and other payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 61 | 76 | 118 | ||||
Personnel expenses deferred to the next and following years | 61 | 50 | 67 | ||||
UBS AG | Retention plan and other payments | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 24 | 25 | 15 | ||||
Personnel expenses deferred to the next and following years | 29 | 24 | 15 | ||||
UBS AG | Retention plan and other payments | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 37 | 51 | 103 | ||||
Personnel expenses deferred to the next and following years | 31 | 27 | 52 | ||||
UBS AG | Deferred Contingent Capital Plan: interest expense | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 108 | 112 | 80 | ||||
Personnel expenses deferred to the next and following years | 290 | 341 | 360 | ||||
UBS AG | Deferred Contingent Capital Plan: interest expense | Related to compensation for performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | 0 | ||||
Personnel expenses deferred to the next and following years | 78 | 98 | 160 | ||||
UBS AG | Deferred Contingent Capital Plan: interest expense | Related to compensation for prior years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 108 | 112 | 80 | ||||
Personnel expenses deferred to the next and following years | SFr 212 | SFr 243 | SFr 200 | ||||
[1] | Includes CHF 698 million in expenses related to share-based compensation (performance awards: CHF 572 million; other variable compensation: CHF 26 million; Wealth Management Americas financial advisor compensation: CHF 100 million). A further CHF 99 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 25 million, related to role-based allowances; Social security: CHF 50 million; Other personnel expenses: CHF 25 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 721 million. | ||||||
[2] | Includes CHF 820 million in expenses related to share-based compensation (performance awards: CHF 699 million; other variable compensation: CHF 40 million; Wealth Management Americas financial advisor compensation: CHF 81 million). A further CHF 90 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 39 million, related to role-based allowances; Social security: CHF 27 million; Other personnel expenses: CHF 24 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 861 million. | ||||||
[3] | Includes CHF 858 million in expenses related to share-based compensation (performance awards: CHF 722 million; other variable compensation: CHF 54 million; Wealth Management Americas financial advisor compensation: CHF 82 million). A further CHF 108 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 26 million, related to role-based allowances; Social security: CHF 61 million; Other personnel expenses: CHF 21 million, related to the Equity Plus Plan). Total personnel expenses related to share-based equity-settled compensation excluding social security were CHF 858 million. | ||||||
[4] | Reflects expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. Amounts reflected as deferred expenses represent the maximum deferred exposure as of the balance sheet date. | ||||||
[5] | Includes CHF 713 million in expenses related to share-based compensation (performance awards: CHF 588 million; other variable compensation: CHF 25 million; Wealth Management Americas financial advisor compensation: CHF 100 million). A further CHF 95 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 25 million, related to role-based allowances; Social security: CHF 48 million; Other personnel expenses: CHF 22 million, related to the Equity Plus Plan). | ||||||
[6] | Includes CHF 858 million in expenses related to share-based compensation (performance awards: CHF 722 million; other variable compensation: CHF 54 million; Wealth Management Americas financial advisor compensation: CHF 82 million). A further CHF 108 million in expenses related to share-based compensation was recognized within other Note 6 expense categories (Salaries: CHF 26 million, related to role-based allowances; Social security: CHF 61 million; Other personnel expenses: CHF 21 million, related to the Equity Plus Plan). |
Employee benefits_ variable 218
Employee benefits: variable compensation (Detail 2) | 12 Months Ended | |
Dec. 31, 2017CHF (SFr)shares | Dec. 31, 2016CHF (SFr)shares | |
Share Awards [Line Items] | ||
Number of shares outstanding, at the beginning of the year | shares | 165,626,088 | 144,185,104 |
Number of shares awarded during the year | shares | 63,872,651 | 82,473,059 |
Number of share distributions during the year | shares | (58,756,089) | (56,018,881) |
Number of shares forfeited during the year | shares | (7,906,936) | (5,013,194) |
Number of shares outstanding, at the end of the year | shares | 162,835,713 | 165,626,088 |
Weighted average exercise price of shars outstanding, at the beginning of the year | SFr 15 | SFr 17 |
Weighted average exercise price of share awarded during the year | 14 | 14 |
Weighted average exercise price of share distributions during the year | 16 | 16 |
Weighted average exercise price of shares forfeited during the year | 15 | 15 |
Weighted average exercise price of shares outstanding, at the end of the year | 15 | 15 |
Weighted average exercise price of shares vested for accounting purposes | SFr 74,883,139 | SFr 73,913,272 |
UBS AG | ||
Share Awards [Line Items] | ||
Number of shares outstanding, at the beginning of the year | shares | 512,185 | 427,443 |
Number of shares awarded during the year | shares | 117,082 | 199,755 |
Number of share distributions during the year | shares | (212,984) | (115,014) |
Number of shares forfeited during the year | shares | (11,563) | 0 |
Number of shares outstanding, at the end of the year | shares | 404,720 | 512,185 |
Weighted average exercise price of shars outstanding, at the beginning of the year | SFr 16 | SFr 18 |
Weighted average exercise price of share awarded during the year | 14 | 13 |
Weighted average exercise price of share distributions during the year | 16 | 18 |
Weighted average exercise price of shares forfeited during the year | 14 | 0 |
Weighted average exercise price of shares outstanding, at the end of the year | 14 | 16 |
Weighted average exercise price of shares vested for accounting purposes | SFr 132,117 | SFr 189,953 |
Employee benefits_ variable 219
Employee benefits: variable compensation (Detail 3) - Equity Ownership Plan | 12 Months Ended | ||
Dec. 31, 2017CHF (SFr)shares | Dec. 31, 2016CHF (SFr)shares | ||
Option Awards [Line Items] | |||
Number of options outstanding, at the beginning of the year | shares | 55,913,291 | 80,848,217 | |
Number of options exercised during the year | shares | [1] | (1,632,319) | (624,554) |
Number of options forfeited during the year | shares | (38,995) | (51,065) | |
Number of options expired unexercised | shares | (21,658,809) | (24,259,307) | |
Number of options outstanding, at the end of the year | shares | 32,583,168 | 55,913,291 | |
Number of options exercisable, at the end of the year | shares | 32,583,168 | 55,913,291 | |
Weighted average exercise price of options outstanding, at the beginning of the year | SFr 39 | SFr 45 | |
Weighted average exercise price of options exercised during the year | [1] | 12 | 12 |
Weighted average exercise price of options forfeited during the year | 27 | 43 | |
Weighted average exercise price of options expired unexercised | 61 | 61 | |
Weighted average exercise price of options outstanding, at the end of the year | 25 | 39 | |
Weighted average exercise price of options exercisable, at the end of the year | 25 | 39 | |
Weighted average share price of options exercised | 16.73 | 15.69 | |
Intrinsic value of options exercised during the year | SFr 8,000,000 | SFr 3,000,000 | |
[1] | The weighted average share price upon option exercise was CHF 16.73 in 2017 (2016: CHF 15.69), resulting in an intrinsic value of CHF 8 million of options exercised during 2017 (2016: CHF 3 million). |
Employee benefits_ variable 220
Employee benefits: variable compensation (Detail 4) - Options outstanding | Dec. 31, 2017CHF (SFr)shares |
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items] | |
Number of options outstanding | shares | 32,583,168 |
Aggregate intrinsic value | SFr 45,700,000 |
10.21-15.00 | |
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items] | |
Number of options outstanding | shares | 6,139,267 |
Weighted average exercise price (CHF) | SFr 11.37 |
Aggregate intrinsic value | SFr 40,300,000 |
Weighted average remaining contractual term (years) | 1.1 |
15.01-25.00 | |
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items] | |
Number of options outstanding | shares | 6,729,572 |
Weighted average exercise price (CHF) | SFr 19.12 |
Aggregate intrinsic value | SFr 5,300,000 |
Weighted average remaining contractual term (years) | 1.2 |
25.01-35.00 | |
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items] | |
Number of options outstanding | shares | 18,565,697 |
Weighted average exercise price (CHF) | SFr 31.43 |
Aggregate intrinsic value | SFr 0 |
Weighted average remaining contractual term (years) | 0.2 |
35.01-45.00 | |
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items] | |
Number of options outstanding | shares | 1,146,032 |
Weighted average exercise price (CHF) | SFr 35.67 |
Aggregate intrinsic value | SFr 0 |
Weighted average remaining contractual term (years) | 0.2 |
45.01-55.00 | |
Disclosure Of Range Of Exercise Prices Of Outstanding Share Options [Line Items] | |
Number of options outstanding | shares | 2,600 |
Weighted average exercise price (CHF) | SFr 46.02 |
Aggregate intrinsic value | SFr 0 |
Weighted average remaining contractual term (years) | 0 |
Employee benefits_ variable 221
Employee benefits: variable compensation (Detail 5) | 12 Months Ended | ||
Dec. 31, 2017CHF (SFr) | Dec. 31, 2016CHF (SFr) | ||
Stock Appreciation Rights Awards [Line Items] | |||
Number of SARs outstanding, at the beginning of the year | 10,807,315 | 12,519,765 | |
Number of SARs exercised during the year | [1] | (2,212,700) | (1,579,449) |
Number of SARs forfeited during the year | (23,000) | (6,000) | |
Number of SARs expired unexercised | (58,200) | (127,001) | |
Number of SARs outstanding, at the end of the year | 8,513,415 | 10,807,315 | |
Number of SARs exercisable, at the end of the year | 8,513,415 | 10,807,315 | |
Weighted average exercise price of SARs outstanding, at the beginning of the year | SFr 12 | SFr 12 | |
Weighted average exercise price of SARs exercised during the year | [1] | 11 | 11 |
Weighted average exercise price of SARs forfeited during the year | 11 | 11 | |
Weighted average exercise price of SARs expired unexercised | 13 | 12 | |
Weighted average exercise price of SARs outstanding, at the end of the year | 12 | 12 | |
Weighted average exercise price of SARs exercisable, at the end of the year | 12 | 12 | |
Weighted average share price of SARs exercised | 16.7 | 15.36 | |
Intrinsic value of SARs exercised during the year | SFr 12,000,000 | SFr 6,000,000 | |
[1] | The weighted average share price upon exercise of SARs was CHF 16.70 in 2017 (2016: CHF 15.36), resulting in an intrinsic value of CHF 12 million of SARs exercised during 2017 (2016: CHF 6 million). |
Employee benefits_ variable 222
Employee benefits: variable compensation (Detail 6) | 12 Months Ended | ||
Dec. 31, 2017CHF (SFr) | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 8,513,415 | 10,807,315 | 12,519,765 |
Number of SARs exercisable | 8,513,415 | 10,807,315 | |
SARs outstanding | |||
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 8,513,415 | ||
Aggregate intrinsic value | SFr 54,000,000 | ||
9.35-12.50 | SARs outstanding | |||
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 8,174,915 | ||
Weighted average exercise price | SFr 11.34 | ||
Aggregate intrinsic value | SFr 54,000,000 | ||
Weighted average remaining contractual term (years) | 1.1 | ||
12.51-15.00 | SARs outstanding | |||
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 2,500 | ||
Weighted average exercise price | SFr 14.85 | ||
Aggregate intrinsic value | SFr 0 | ||
Weighted average remaining contractual term (years) | 1.4 | ||
15.01-17.50 | SARs outstanding | |||
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 42,000 | ||
Weighted average exercise price | SFr 16.8 | ||
Aggregate intrinsic value | SFr 0 | ||
Weighted average remaining contractual term (years) | 1.4 | ||
17.51-20.00 | SARs outstanding | |||
Disclosure Of Range Of Exercise Prices Of Outstanding SARs [Line Items] | |||
Number of SARs outstanding | 294,000 | ||
Weighted average exercise price | SFr 19.25 | ||
Aggregate intrinsic value | SFr 0 | ||
Weighted average remaining contractual term (years) | 1.7 |
Interests in subsidiaries (Deta
Interests in subsidiaries (Detail 1.1) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Share capital in million | SFr 385 | SFr 385 | |
UBS AG | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Company | UBS AG | ||
Registered office | Zurich and Basel, Switzerland | ||
Currency | CHF | ||
Share capital in million | SFr 385.8 | ||
Equity interest accumulated in % | 100.00% | ||
UBS Business Solutions AG | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Company | [1] | UBS Business Solutions AG | |
Registered office | [1] | Zurich, Switzerland | |
Currency | [1] | CHF | |
Share capital in million | [1] | SFr 1 | |
Equity interest accumulated in % | [1] | 100.00% | |
UBS AG | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Share capital in million | SFr 386 | SFr 386 | |
[1] | UBS Business Solutions (India) Private Limited and UBS Business Solutions Poland Sp. z o.o. are directly held subsidiaries of UBS Business Solutions AG. |
Interests in subsidiaries (D224
Interests in subsidiaries (Detail 1.2) € in Millions, £ in Millions, SFr in Millions | 12 Months Ended | |||||
Dec. 31, 2017CHF (SFr) | Dec. 31, 2017EUR (€) | Dec. 31, 2017GBP (£) | Dec. 31, 2017USD ($) | Dec. 31, 2016CHF (SFr) | ||
Individually significant subsidiaries of UBS AG | ||||||
Share capital | SFr | SFr 385 | SFr 385 | ||||
UBS Americas Holding LLC | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Americas Holding LLC | |||||
Registered office | Wilmington, Delaware, USA | |||||
Primary business division | Corporate Center | |||||
Share capital | [1] | $ 2,250,000,000 | ||||
Equity interest accumulated in % | 100.00% | |||||
Common share capital | 1,000 | |||||
Preference share capital | 2,250,000,000 | |||||
UBS Asset Management AG | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Asset Management AG | |||||
Registered office | Zurich, Switzerland | |||||
Primary business division | Asset Management | |||||
Share capital | SFr | SFr 43.2 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS Bank USA | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Bank USA | |||||
Registered office | Salt Lake City, Utah, USA | |||||
Primary business division | Wealth Management Americas | |||||
Share capital | 0 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS Europe SE | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Europe SE | |||||
Registered office | Frankfurt, Germany | |||||
Primary business division | Wealth Management | |||||
Share capital | € | € 446 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS Financial Services Inc. | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Financial Services Inc. | |||||
Registered office | Wilmington, Delaware, USA | |||||
Primary business division | Wealth Management Americas | |||||
Share capital | 0 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS Limited | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Limited | |||||
Registered office | London, United Kingdom | |||||
Primary business division | Investment Bank | |||||
Share capital | £ | £ 226.6 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS Securities LLC | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Securities LLC | |||||
Registered office | Wilmington, Delaware, USA | |||||
Primary business division | Investment Bank | |||||
Share capital | [2] | 1,283,100,000 | ||||
Equity interest accumulated in % | 100.00% | |||||
Common share capital | 100,000 | |||||
Preference share capital | 1,283,000,000 | |||||
UBS Switzerland AG | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Switzerland AG | |||||
Registered office | Zurich, Switzerland | |||||
Primary business division | Personal & Corporate Banking | |||||
Share capital | SFr | SFr 10 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS AG | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Share capital | SFr | SFr 386 | SFr 386 | ||||
UBS AG | UBS Americas Holding LLC | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Americas Holding LLC | |||||
Registered office | Wilmington, Delaware, USA | |||||
Primary business division | Corporate Center | |||||
Share capital | [1] | 2,250,000,000 | ||||
Equity interest accumulated in % | 100.00% | |||||
Common share capital | 1,000 | |||||
Preference share capital | 2,250,000,000 | |||||
UBS AG | UBS Asset Management AG | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Asset Management AG | |||||
Registered office | Zurich, Switzerland | |||||
Primary business division | Asset Management | |||||
Share capital | SFr | SFr 43.2 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS AG | UBS Bank USA | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Bank USA | |||||
Registered office | Salt Lake City, Utah, USA | |||||
Primary business division | Wealth Management Americas | |||||
Share capital | 0 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS AG | UBS Europe SE | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Europe SE | |||||
Registered office | Frankfurt, Germany | |||||
Primary business division | Wealth Management | |||||
Share capital | € | € 446 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS AG | UBS Financial Services Inc. | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Financial Services Inc. | |||||
Registered office | Wilmington, Delaware, USA | |||||
Primary business division | Wealth Management Americas | |||||
Share capital | 0 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS AG | UBS Limited | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Limited | |||||
Registered office | London, United Kingdom | |||||
Primary business division | Investment Bank | |||||
Share capital | £ | £ 226.6 | |||||
Equity interest accumulated in % | 100.00% | |||||
UBS AG | UBS Securities LLC | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Securities LLC | |||||
Registered office | Wilmington, Delaware, USA | |||||
Primary business division | Investment Bank | |||||
Share capital | [2] | 1,283,100,000 | ||||
Equity interest accumulated in % | 100.00% | |||||
Common share capital | 100,000 | |||||
Preference share capital | $ 1,283,000,000 | |||||
UBS AG | UBS Switzerland AG | ||||||
Individually significant subsidiaries of UBS AG | ||||||
Company | UBS Switzerland AG | |||||
Registered office | Zurich, Switzerland | |||||
Primary business division | Personal & Corporate Banking | |||||
Share capital | SFr | SFr 10 | |||||
Equity interest accumulated in % | 100.00% | |||||
[1] | Comprised of common share capital of USD 1,000 and non-voting preferred share capital of USD 2,250,000,000. | |||||
[2] | Comprised of common share capital of USD 100,000 and non-voting preferred share capital of USD 1,283,000,000. |
Interests in subsidiaries (D225
Interests in subsidiaries (Detail 2) € in Millions, ₨ in Millions, ¥ in Millions, £ in Millions, ZAR in Millions, THB in Millions, SGD in Millions, SFr in Millions, HKD in Millions, AUD in Millions, $ in Millions | 12 Months Ended | ||||||||||||
Dec. 31, 2017AUD | Dec. 31, 2017CHF (SFr) | Dec. 31, 2017EUR (€) | Dec. 31, 2017GBP (£) | Dec. 31, 2017HKD | Dec. 31, 2017INR (₨) | Dec. 31, 2017JPY (¥) | Dec. 31, 2017SGD | Dec. 31, 2017THB | Dec. 31, 2017USD ($) | Dec. 31, 2017ZAR | Dec. 31, 2016CHF (SFr) | ||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Share capital in million | SFr | SFr 385 | SFr 385 | |||||||||||
UBS Americas Inc. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Corporate Center | ||||||||||||
Share capital in million | $ 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Asset Management (Americas) Inc. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Asset Management (Australia) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Sydney, Australia | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | AUD | [1] | AUD 20.1 | |||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Asset Management (Deutschland) GmbH | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Frankfurt, Germany | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | € | € 7.7 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Asset Management (Hong Kong) Limited | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Hong Kong, Hong Kong | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | HKD | HKD 206 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Asset Management (Japan) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Tokyo, Japan | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | ¥ | ¥ 2,200 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Asset Management (Singapore) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Singapore, Singapore | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | SGD | SGD 4 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Asset Management (UK) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | London, United Kingdom | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | £ | £ 125 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Business Solutions US LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Corporate Center | ||||||||||||
Share capital in million | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Card Center AG | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Glattbrugg, Switzerland | ||||||||||||
Primary business division | Personal & Corporate Banking | ||||||||||||
Share capital in million | SFr | 0.1 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Credit Corp. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Wealth Management Americas | ||||||||||||
Share capital in million | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS (France) SA. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Paris, France | ||||||||||||
Primary business division | Wealth Management | ||||||||||||
Share capital in million | € | 133 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Fund Advisor, L.L.C. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Wealth Management Americas | ||||||||||||
Share capital in million | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Fund Management (Luxembourg) S.A. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Luxembourg, Luxembourg | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | € | 13 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Fund Management (Switzerland) AG | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Basel, Switzerland | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | SFr | 1 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Hedge Fund Solutions LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | 0.1 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS (Monaco) S.A. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Monte Carlo, Monaco | ||||||||||||
Primary business division | Wealth Management | ||||||||||||
Share capital in million | € | 49.2 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS O Connor LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Dover, Delaware, USA | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | 1 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Real Estate Securities Inc. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Realty Investors LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Boston, Massachusetts, USA | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | 9 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Securities (Thailand) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Bangkok, Thailand | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | THB | THB 500 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Securities Australia Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Sydney, Australia | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | AUD | [1] | AUD 0.3 | |||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Securities India Private Limited | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Mumbai, India | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | ₨ | ₨ 140 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Securities Japan Co., Ltd. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Tokyo, Japan | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | ¥ | 32,100 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS Securities Pte. Ltd. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Singapore, Singapore | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | SGD | 420.4 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS South Africa (Proprietary) Limited | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Sandton, South Africa | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | ZAR | ZAR 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS UK Properties Limited | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | London, United Kingdom | ||||||||||||
Primary business division | Corporate Center | ||||||||||||
Share capital in million | £ | 132 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Share capital in million | SFr | 386 | SFr 386 | |||||||||||
UBS AG | UBS Americas Inc. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Corporate Center | ||||||||||||
Share capital in million | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Asset Management (Americas) Inc. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Asset Management (Australia) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Sydney, Australia | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | AUD | [1] | AUD 20.1 | |||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Asset Management (Deutschland) GmbH | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Frankfurt, Germany | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | € | 7.7 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Asset Management (Hong Kong) Limited | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Hong Kong, Hong Kong | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | HKD | HKD 206 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Asset Management (Japan) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Tokyo, Japan | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | ¥ | 2,200 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Asset Management (Singapore) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Singapore, Singapore | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | SGD | 4 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Asset Management (UK) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | London, United Kingdom | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | £ | 125 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Business Solutions US LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Corporate Center | ||||||||||||
Share capital in million | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Card Center AG | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Glattbrugg, Switzerland | ||||||||||||
Primary business division | Personal & Corporate Banking | ||||||||||||
Share capital in million | SFr | 0.1 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Credit Corp. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Wealth Management Americas | ||||||||||||
Share capital in million | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS (France) SA. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Paris, France | ||||||||||||
Primary business division | Wealth Management | ||||||||||||
Share capital in million | € | 133 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Fund Advisor, L.L.C. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Wealth Management Americas | ||||||||||||
Share capital in million | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Fund Management (Luxembourg) S.A. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Luxembourg, Luxembourg | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | € | 13 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Fund Management (Switzerland) AG | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Basel, Switzerland | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | SFr | SFr 1 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Hedge Fund Solutions LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | 0.1 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS (Monaco) S.A. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Monte Carlo, Monaco | ||||||||||||
Primary business division | Wealth Management | ||||||||||||
Share capital in million | € | € 49.2 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS O Connor LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Dover, Delaware, USA | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | 1 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Real Estate Securities Inc. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Wilmington, Delaware, USA | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Realty Investors LLC | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Boston, Massachusetts, USA | ||||||||||||
Primary business division | Asset Management | ||||||||||||
Share capital in million | $ 9 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Securities (Thailand) Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Bangkok, Thailand | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | THB | THB 500 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Securities Australia Ltd | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Sydney, Australia | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | AUD | [1] | AUD 0.3 | |||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Securities India Private Limited | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Mumbai, India | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | ₨ | ₨ 140 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Securities Japan Co., Ltd. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Tokyo, Japan | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | ¥ | ¥ 32,100 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS Securities Pte. Ltd. | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Singapore, Singapore | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | SGD | SGD 420.4 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS South Africa (Proprietary) Limited | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | Sandton, South Africa | ||||||||||||
Primary business division | Investment Bank | ||||||||||||
Share capital in million | ZAR | ZAR 0 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
UBS AG | UBS UK Properties Limited | |||||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||||
Registered office | London, United Kingdom | ||||||||||||
Primary business division | Corporate Center | ||||||||||||
Share capital in million | £ | £ 132 | ||||||||||||
Equity interest accumulated in % | 100.00% | ||||||||||||
[1] | Includes a nominal amount relating to redeemable preference shares. |
Interests in subsidiaries (Narr
Interests in subsidiaries (Narrative) (Detail) € in Millions | 12 Months Ended | ||
Dec. 31, 2017CHF (SFr) | Dec. 31, 2017EUR (€) | Dec. 31, 2016CHF (SFr) | |
Notes Interests In Subsidiaries [Line Items] | |||
Additional information about nature and financial effect of business combination | In 2017, no significant subsidiaries were added to or removed from the scope of consolidation as a result of acquisitions or disposals. | In 2017, no significant subsidiaries were added to or removed from the scope of consolidation as a result of acquisitions or disposals. | |
Description of terms of contractual arrangements that could require parent or subsidiaries to provide financial support to consolidated structured entity | In 2017 and 2016, the Group has not entered into any contractual obligation that could require the Group to provide financial support to consolidated SEs. | In 2017 and 2016, the Group has not entered into any contractual obligation that could require the Group to provide financial support to consolidated SEs. | In 2017 and 2016, the Group has not entered into any contractual obligation that could require the Group to provide financial support to consolidated SEs. |
Support provided to consolidated structured entity without having contractual obligation to do so | SFr 0 | SFr 0 | |
Description of intentions to provide support to consolidated structured entity | In 2017 and 2016, the Group did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has the Group an intention to do so in the future. | In 2017 and 2016, the Group did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has the Group an intention to do so in the future. | In 2017 and 2016, the Group did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has the Group an intention to do so in the future. |
Increase (decrease) in non-controlling interest | SFr (625,000,000) | ||
Redemption of non Basel III-compliant tier one capital instruments | € | € 600 | ||
UBS AG | |||
Notes Interests In Subsidiaries [Line Items] | |||
Additional information about nature and financial effect of business combination | In 2017, no significant subsidiaries were added to or removed from the scope of consolidation as a result of acquisitions or disposals. | In 2017, no significant subsidiaries were added to or removed from the scope of consolidation as a result of acquisitions or disposals. | |
Description of terms of contractual arrangements that could require parent or subsidiaries to provide financial support to consolidated structured entity | In 2017 and 2016, the Group has not entered into any contractual obligation that could require the Group to provide financial support to consolidated SEs. | In 2017 and 2016, the Group has not entered into any contractual obligation that could require the Group to provide financial support to consolidated SEs. | In 2017 and 2016, the Group has not entered into any contractual obligation that could require the Group to provide financial support to consolidated SEs. |
Support provided to consolidated structured entity without having contractual obligation to do so | SFr 0 | SFr 0 | |
Description of intentions to provide support to consolidated structured entity | In 2017 and 2016, UBS AG did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has UBS AG an intention to do so in the future. | In 2017 and 2016, UBS AG did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has UBS AG an intention to do so in the future. | In 2017 and 2016, UBS AG did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has UBS AG an intention to do so in the future. |
Interests in associates and 227
Interests in associates and joint ventures (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
Carrying amount at the beginning of the year | SFr 963 | SFr 954 | ||||
Additions | 3 | 3 | ||||
Disposals | 0 | (2) | ||||
Share of comprehensive income | 98 | 82 | ||||
of which: share of net profit | 75 | [1] | 106 | [1] | SFr 169 | |
of which: share of other comprehensive income | [2] | 23 | (24) | |||
Dividends received | (51) | (50) | ||||
Foreign currency translation | 12 | (23) | ||||
Impairment | (7) | 0 | ||||
Carrying amount at the end of the year | 1,018 | 963 | 954 | |||
of which: associates | 989 | 934 | ||||
of which: joint ventures | 29 | 29 | ||||
Share of profit (loss) of associates | 60 | 94 | ||||
Share of profit (loss) of joint ventures | 15 | 12 | ||||
Share of other comprehensive income of associates | 24 | (25) | ||||
Share of other comprehensive income of joint ventures | (1) | 0 | ||||
UBS Securities Co. Limited, Beijing | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
of which: associates | [3] | SFr 401 | SFr 392 | |||
UBS AG's equity interest | 24.99% | 24.99% | ||||
SIX Group AG, Zurich | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
of which: associates | [4] | SFr 464 | SFr 426 | |||
UBS AG's equity interest | 17.31% | 17.31% | ||||
Other associates | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
of which: associates | SFr 124 | SFr 116 | ||||
UBS AG | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
Carrying amount at the beginning of the year | 963 | 954 | ||||
Additions | 3 | 3 | ||||
Disposals | 0 | (2) | ||||
Share of comprehensive income | 98 | 82 | ||||
of which: share of net profit | 75 | [1] | 106 | [1] | 169 | |
of which: share of other comprehensive income | [2] | 23 | (24) | |||
Dividends received | (51) | (50) | ||||
Foreign currency translation | 12 | (23) | ||||
Impairment | (7) | 0 | ||||
Carrying amount at the end of the year | 1,018 | 963 | SFr 954 | |||
of which: associates | 989 | 934 | ||||
of which: joint ventures | 29 | 29 | ||||
Share of profit (loss) of associates | 60 | 94 | ||||
Share of profit (loss) of joint ventures | 15 | 12 | ||||
Share of other comprehensive income of associates | 24 | (25) | ||||
Share of other comprehensive income of joint ventures | (1) | 0 | ||||
UBS AG | UBS Securities Co. Limited, Beijing | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
of which: associates | [3] | SFr 401 | SFr 392 | |||
UBS AG's equity interest | 24.99% | 24.99% | ||||
UBS AG | SIX Group AG, Zurich | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
of which: associates | [4] | SFr 464 | SFr 426 | |||
UBS AG's equity interest | 17.31% | 17.31% | ||||
UBS AG | Other associates | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
of which: associates | SFr 124 | SFr 116 | ||||
[1] | For 2017, consists of CHF 60 million from associates and CHF 15 million from joint ventures. For 2016, consists of CHF 94 million from associates and CHF 12 million from joint ventures. | |||||
[2] | For 2017, consists of CHF 24 million from associates and negative CHF 1 million from joint ventures. For 2016, consists of negative CHF 25 million from associates and CHF 0 million from joint ventures. | |||||
[3] | UBS AG’s equity interest amounts to 24.99%. | |||||
[4] | UBS AG’s equity interest amounts to 17.31%. UBS AG is represented on the Board of Directors. |
Interests in associates and 228
Interests in associates and joint ventures (Narrative) (Detail) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||
Description of nature and extent of significant restrictions on transfer of funds to entity, associates and joint ventures | there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS Group AG or its subsidiaries in the form of cash dividends or to repay loans or advances made | there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS Group AG or its subsidiaries in the form of cash dividends or to repay loans or advances made. |
UBS AG | ||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||
Description of nature and extent of significant restrictions on transfer of funds to entity, associates and joint ventures | there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS Group AG or its subsidiaries in the form of cash dividends or to repay loans or advances made | there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS Group AG or its subsidiaries in the form of cash dividends or to repay loans or advances made. |
Interests in unconsolidated 229
Interests in unconsolidated structured entities (Narrative) (Detail) - CHF (SFr) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Support provided to consolidated structured entity without having contractual obligation to do so | SFr 0 | SFr 0 |
Information About How Maximum Exposure To Loss From Interests In Structured Entities Is Determined | The Group’s maximum exposure to loss is generally equal to the carrying value of the Group’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives, for which the contract’s notional amount, adjusted for losses already incurred, represents the maximum loss that the Group is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure to loss. Risk exposure for these swap instruments could change over time with market movements. | The Group’s maximum exposure to loss is generally equal to the carrying value of the Group’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives, for which the contract’s notional amount, adjusted for losses already incurred, represents the maximum loss that the Group is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure to loss. Risk exposure for these swap instruments could change over time with market movements. |
Description of intentions to provide support to consolidated structured entity | In 2017 and 2016, the Group did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has the Group an intention to do so in the future. | In 2017 and 2016, the Group did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has the Group an intention to do so in the future. |
Description of types of income from structured entities | In 2017 and 2016, income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in net trading income, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. | In 2017 and 2016, income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in net trading income, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. |
Securitization vehicles | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in securitization vehicles As of 31 December 2017 and 31 December 2016, the Group held interests, both retained and acquired, in various securitization vehicles, a ma jority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, underwriting, secondary market and derivative trading activities. In some cases t he Group may be required to absorb losses from an unconsolidated SE before other parties because the Group’s interest is subordinated to others in the ownership structure. An overview of the Group’s interests in unconsolidated securitization vehicles and the relative ranking and external credit rating of those interests is presented in the table on the following page s . The numbers outlined in this table differ from the securitization positions presented in the 31 December 2017 Pillar 3 report – Group and s ignificant regulated subsidiaries and sub-groups under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , primarily due to: (i) exclusion from the table on the following page of synthetic securitizations transacted with entities that are not SEs and transactions in which the Group did not have an interest because it did not absorb any risk, (ii) a different measurement basis in certain cases (e.g., IFRS carrying value within the table above compared with n et exposure amount at default for Basel III Pillar 3 disclosures) and (iii) different classification of vehicles viewed as sponsored by the Group versus sponsored by third parties. Refer to Note 1 a item 1 for more information on Group’s accountin g policies regarding consolidation and sponsorship of securitization vehicles and other structured entities Refer to the 31 December 2017 Pillar 3 report – Group and significant regulated subsidiaries and sub-groups under “Pillar 3 disclosures” at www.ubs .com/investors for more information | Interests in securitization vehicles As of 31 December 2017 and 31 December 2016, the Group held interests, both retained and acquired, in various securitization vehicles, a ma jority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, underwriting, secondary market and derivative trading activities. In some cases t he Group may be required to absorb losses from an unconsolidated SE before other parties because the Group’s interest is subordinated to others in the ownership structure. An overview of the Group’s interests in unconsolidated securitization vehicles and the relative ranking and external credit rating of those interests is presented in the table on the following page s . The numbers outlined in this table differ from the securitization positions presented in the 31 December 2017 Pillar 3 report – Group and s ignificant regulated subsidiaries and sub-groups under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , primarily due to: (i) exclusion from the table on the following page of synthetic securitizations transacted with entities that are not SEs and transactions in which the Group did not have an interest because it did not absorb any risk, (ii) a different measurement basis in certain cases (e.g., IFRS carrying value within the table above compared with n et exposure amount at default for Basel III Pillar 3 disclosures) and (iii) different classification of vehicles viewed as sponsored by the Group versus sponsored by third parties. Refer to Note 1 a item 1 for more information on Group’s accountin g policies regarding consolidation and sponsorship of securitization vehicles and other structured entities Refer to the 31 December 2017 Pillar 3 report – Group and significant regulated subsidiaries and sub-groups under “Pillar 3 disclosures” at www.ubs .com/investors for more information |
Client vehicles | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in client vehicles As of 31 December 2017 and 31 December 2016 , the Group retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and t o hedge structured product offerings. Included within these investments are securities guaranteed by US government agencies. | Interests in client vehicles As of 31 December 2017 and 31 December 2016 , the Group retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and t o hedge structured product offerings. Included within these investments are securities guaranteed by US government agencies. |
Investment fund units | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in investment funds The Group holds interests in a number of investment funds, primarily resulting from seed investments or to hedge structured product offerings. In addition to the interests disclosed in the table on the previous page, the Group manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value o f the fund and / or the performance of the fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund, the jurisdiction of incorporation as well as fee schedules negotiated with clients. These fee contracts represent an interest in the fund as they align the Group’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly fro m the fund assets and / or from the investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. The Group did not have any material exposure to loss from these interests as of 31 December 2017 or as of 31 December 2016 . | Interests in investment funds The Group holds interests in a number of investment funds, primarily resulting from seed investments or to hedge structured product offerings. In addition to the interests disclosed in the table on the previous page, the Group manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value o f the fund and / or the performance of the fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund, the jurisdiction of incorporation as well as fee schedules negotiated with clients. These fee contracts represent an interest in the fund as they align the Group’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly fro m the fund assets and / or from the investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. The Group did not have any material exposure to loss from these interests as of 31 December 2017 or as of 31 December 2016 . |
Investment fund units | Sponsored [Member] | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Total closing net asset value | SFr 15,000,000,000 | SFr 14,000,000,000 |
Securitization and client vehicles | Sponsored [Member] | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Assets transferred to structured entities by UBS and third parties | 17,000,000,000 | 13,000,000,000 |
UBS AG | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Support provided to consolidated structured entity without having contractual obligation to do so | SFr 0 | SFr 0 |
Information About How Maximum Exposure To Loss From Interests In Structured Entities Is Determined | UBS AG’s maximum exposure to loss is generally equal to the carrying value of UBS AG’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives, for which the contract’s notional amount, adjusted for losses already incurred, represents the maximum loss that UBS AG is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure to loss. Risk exposure for these swap instruments could change over time with market movements. | UBS AG’s maximum exposure to loss is generally equal to the carrying value of UBS AG’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives, for which the contract’s notional amount, adjusted for losses already incurred, represents the maximum loss that UBS AG is exposed to. In addition, the current fair value of derivative swap instruments with a positive replacement value only, such as total return swaps, is presented as the maximum exposure to loss. Risk exposure for these swap instruments could change over time with market movements. |
Description of intentions to provide support to consolidated structured entity | In 2017 and 2016, UBS AG did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has UBS AG an intention to do so in the future. | In 2017 and 2016, UBS AG did not provide support, financial or otherwise, to an unconsolidated SE when not contractually obligated to do so, nor has UBS AG an intention to do so in the future. |
Description of types of income from structured entities | In 2017 and 2016, income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in net trading income, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. | In 2017 and 2016, income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in net trading income, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. |
UBS AG | Securitization vehicles | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in securitization vehicles As of 31 December 2017 and 31 December 2016, UBS AG held inter ests, both retained and acquired, in various securitization vehicles, a majority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, underwr iting, secondary market and derivative trading activities. In some cases UBS AG may be required to absorb losses from an unconsolidated SE before other parties because UBS AG ’ s interest is subordinated to others in the ownership structure. An overview of U BS AG’s interests in unconsolidated securitization vehicles and the relative ranking and external credit rating of those interests is presented in the t able on the following pages. Refer to Note 1 a item 1 for more information on UBS AG’s accounti ng policies regarding consolidation and sponsorship of securitization vehicles and other structured entities | Interests in securitization vehicles As of 31 December 2017 and 31 December 2016, UBS AG held inter ests, both retained and acquired, in various securitization vehicles, a majority of which are held within Corporate Center – Non-core and Legacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, underwr iting, secondary market and derivative trading activities. In some cases UBS AG may be required to absorb losses from an unconsolidated SE before other parties because UBS AG ’ s interest is subordinated to others in the ownership structure. An overview of U BS AG’s interests in unconsolidated securitization vehicles and the relative ranking and external credit rating of those interests is presented in the t able on the following pages. Refer to Note 1 a item 1 for more information on UBS AG’s accounti ng policies regarding consolidation and sponsorship of securitization vehicles and other structured entities |
UBS AG | Client vehicles | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in client vehicles As of 31 December 2017 and 31 December 2016 , UBS AG retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and to hedge structured product offerings. Included within these investments are securities guaranteed by US government agencies. | Interests in client vehicles As of 31 December 2017 and 31 December 2016 , UBS AG retained interests in client vehicles sponsored by UBS and third parties that relate to financing and derivative activities , and to hedge structured product offerings. Included within these investments are securities guaranteed by US government agencies. |
UBS AG | Investment fund units | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in investment funds UBS AG holds interests in a number of investment funds, primarily resulting from seed investments or to hedge structured product offerings. In addition to the interests disclosed in the table on the previous page, UBS AG manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value of the fund and / or the performance of the fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund, the jurisdiction of incorporation as well as fee schedules negotiated with clients. These fee contracts represent an interest in the fund as they align UBS AG’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly from the fund assets and / or from the investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. UBS AG did not have any material expos ure to loss from these interests as of 31 December 2017 or as of 31 December 2016 . | Interests in investment funds UBS AG holds interests in a number of investment funds, primarily resulting from seed investments or to hedge structured product offerings. In addition to the interests disclosed in the table on the previous page, UBS AG manages the assets of various pooled investment funds and receives fees that are based, in whole or part, on the net asset value of the fund and / or the performance of the fund. The specific fee structure is determined on the basis of various market factors and considers the nature of the fund, the jurisdiction of incorporation as well as fee schedules negotiated with clients. These fee contracts represent an interest in the fund as they align UBS AG’s exposure with investors, providing a variable return that is based on the performance of the entity. Depending on the structure of the fund, these fees may be collected directly from the fund assets and / or from the investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fund. UBS AG did not have any material expos ure to loss from these interests as of 31 December 2017 or as of 31 December 2016 . |
UBS AG | Investment fund units | Sponsored [Member] | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Total closing net asset value | SFr 15,000,000,000 | SFr 14,000,000,000 |
UBS AG | Securitization and client vehicles | Sponsored [Member] | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Assets transferred to structured entities by UBS and third parties | SFr 17,000,000,000 | SFr 13,000,000,000 |
Interests in unconsolidated 230
Interests in unconsolidated structured entities (Detail 1) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | SFr 11,508 | SFr 11,589 | |
Total liabilities | 276 | 446 | |
Trading portfolio assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 6,815 | 7,243 |
Total assets | 6,815 | 7,243 | |
Positive replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 111 | 217 |
Total assets | 111 | 217 | |
Loans | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 97 | 79 |
Total assets | 97 | 79 | |
Financial assets designated at fair value | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 1,780 | 1,863 |
Total assets | 255 | 284 | |
Financial assets available for sale | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 3,910 | 3,439 |
Total assets | 3,910 | 3,439 | |
Other assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 1,407 | 1,490 |
Total assets | 320 | 327 | |
Negative replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 14 | 90 |
Total liabilities | 276 | 446 | |
Securitization vehicles | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [2] | 760 | 1,066 |
Total liabilities | 20 | 33 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [3] | 57 | 72 |
Assets recognised in entity's financial statements in relation to structured entities, which was held in Non-core and Legacy Portfolio unit within Corporate Center. | 700 | 1,000 | |
Securitization vehicles | Trading portfolio assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 363 | 634 | |
Securitization vehicles | Positive replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 21 | 40 | |
Securitization vehicles | Loans | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 0 | 0 | |
Securitization vehicles | Financial assets designated at fair value | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 84 | 103 | |
Securitization vehicles | Financial assets available for sale | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 0 | 0 | |
Securitization vehicles | Other assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 291 | 289 | |
Securitization vehicles | Negative replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | [4] | 20 | 33 |
Client vehicles | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 4,337 | 3,971 | |
Total liabilities | 53 | 346 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [5] | 78 | 102 |
Client vehicles | Trading portfolio assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 308 | 394 | |
Client vehicles | Positive replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 68 | 76 | |
Client vehicles | Loans | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 0 | 0 | |
Client vehicles | Financial assets designated at fair value | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [6] | 66 | 83 |
Client vehicles | Financial assets available for sale | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 3,865 | 3,381 | |
Client vehicles | Other assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [6] | 29 | 37 |
Client vehicles | Negative replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | 53 | 346 | |
Investment funds | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 6,412 | 6,552 | |
Total liabilities | 203 | 67 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [7] | 412 | 334 |
Investment funds | Trading portfolio assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 6,143 | 6,215 | |
Investment funds | Positive replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 22 | 101 | |
Investment funds | Loans | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 97 | 79 | |
Investment funds | Financial assets designated at fair value | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 105 | 98 | |
Investment funds | Financial assets available for sale | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 45 | 58 | |
Investment funds | Other assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 0 | 0 | |
Investment funds | Negative replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | 203 | 67 | |
UBS AG | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 11,403 | 11,491 | |
Total liabilities | 276 | 446 | |
UBS AG | Trading portfolio assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 6,815 | 7,243 |
Total assets | 6,815 | 7,243 | |
UBS AG | Positive replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 111 | 217 |
Total assets | 111 | 217 | |
UBS AG | Loans | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 97 | 79 |
Total assets | 97 | 79 | |
UBS AG | Financial assets designated at fair value | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 1,675 | 1,765 |
Total assets | 150 | 186 | |
UBS AG | Financial assets available for sale | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 3,910 | 3,439 |
Total assets | 3,910 | 3,439 | |
UBS AG | Other assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 1,407 | 1,490 |
Total assets | 320 | 327 | |
UBS AG | Negative replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 14 | 90 |
Total liabilities | 276 | 446 | |
UBS AG | Securitization vehicles | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [2] | 760 | 1,066 |
Total liabilities | 20 | 33 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [3] | 57 | 72 |
Assets recognised in entity's financial statements in relation to structured entities, which was held in Non-core and Legacy Portfolio unit within Corporate Center. | 700 | 1,000 | |
UBS AG | Securitization vehicles | Trading portfolio assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 363 | 634 | |
UBS AG | Securitization vehicles | Positive replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 21 | 40 | |
UBS AG | Securitization vehicles | Loans | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 0 | 0 | |
UBS AG | Securitization vehicles | Financial assets designated at fair value | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 84 | 103 | |
UBS AG | Securitization vehicles | Financial assets available for sale | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 0 | 0 | |
UBS AG | Securitization vehicles | Other assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 291 | 289 | |
UBS AG | Securitization vehicles | Negative replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | [4] | 20 | 33 |
UBS AG | Client vehicles | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 4,337 | 3,971 | |
Total liabilities | 53 | 346 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [5] | 78 | 102 |
UBS AG | Client vehicles | Trading portfolio assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 308 | 394 | |
UBS AG | Client vehicles | Positive replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 68 | 76 | |
UBS AG | Client vehicles | Loans | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 0 | 0 | |
UBS AG | Client vehicles | Financial assets designated at fair value | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [6] | 66 | 83 |
UBS AG | Client vehicles | Financial assets available for sale | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 3,865 | 3,381 | |
UBS AG | Client vehicles | Other assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [6] | 29 | 37 |
UBS AG | Client vehicles | Negative replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | 53 | 346 | |
UBS AG | Investment funds | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 6,307 | 6,454 | |
Total liabilities | 203 | 67 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [7] | 412 | 334 |
UBS AG | Investment funds | Trading portfolio assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 6,143 | 6,215 | |
UBS AG | Investment funds | Positive replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 22 | 101 | |
UBS AG | Investment funds | Loans | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 97 | 79 | |
UBS AG | Investment funds | Financial assets designated at fair value | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 0 | 0 | |
UBS AG | Investment funds | Financial assets available for sale | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 45 | 58 | |
UBS AG | Investment funds | Other assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 0 | 0 | |
UBS AG | Investment funds | Negative replacement values | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | SFr 203 | SFr 67 | |
[1] | For purposes of this disclosure, maximum exposure to loss amounts do not consider the risk-reducing effects of collateral or other credit enhancements. | ||
[2] | As of 31 December 2017, CHF 0.7 billion of the CHF 0.8 billion (31 December 2016: CHF 1.0 billion of the CHF 1.1 billion) was held in Corporate Center – Non-core and Legacy Portfolio. | ||
[3] | Represents principal amount outstanding. | ||
[4] | Comprised of credit default swap (CDS) liabilities and other swap liabilities. The maximum exposure to loss for CDS is equal to the sum of the negative carrying value and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. | ||
[5] | Represents the market value of total assets. | ||
[6] | Represents the carrying value of loan commitments, both designated at fair value and held at amortized cost. The maximum exposure to loss for these instruments is equal to the notional amount. | ||
[7] | Represents the net asset value of the investment funds sponsored by UBS and the carrying value of UBS’s interests in the investment funds not sponsored by UBS. |
Interests in unconsolidated 231
Interests in unconsolidated structured entities (Detail 2) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | SFr 11,508 | SFr 11,589 | |
of which: Trading portfolio assets | 130,707 | 96,575 | |
of which: Financial assets designated at fair value | [1] | 58,933 | 65,353 |
Sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 126 | 152 |
of which: Trading portfolio assets | [2] | 43 | 49 |
of which: Financial assets designated at fair value | [2] | 84 | 103 |
Total assets held by the vehicles in which UBS had an interest | [2] | 12,000 | 16,000 |
Sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 118 | 151 |
Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 24 | 34 |
Sponsored by UBS | Interests in senior tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 84 | 103 |
Sponsored by UBS | Interests in senior tranches | of which: defaulted | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 10 | 14 |
Sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | |
Sponsored by UBS | Interests in mezzanine tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | |
Sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | |
Sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | |
Not sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 321 | 585 |
of which: Trading portfolio assets | [2] | 321 | 585 |
Total assets held by the vehicles in which UBS had an interest | [2] | 43,000 | 56,000 |
Not sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 311 | 535 |
Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 311 | 535 |
Not sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | 32 |
Not sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | 29 |
Not sponsored by UBS | Interests in mezzanine tranches | of which: defaulted | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | 3 |
Not sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | 18 |
Not sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 17 | |
Not sponsored by UBS | Interests in junior tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | 1 |
Not sponsored by UBS | Tranch information not available | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
Not sponsored by UBS | Tranch information not available | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
Not sponsored by UBS | Tranch information not available | of which: not rated | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
Residential mortgage-backed securities | Sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 84 | 104 |
of which: Trading portfolio assets | [2] | 0 | 1 |
of which: Financial assets designated at fair value | [2] | 84 | 103 |
Total assets held by the vehicles in which UBS had an interest | [2] | 1,000 | 2,000 |
Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 84 | 103 |
Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | 0 |
Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 84 | 103 |
Residential mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | |
Residential mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | |
Residential mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
Residential mortgage-backed securities | Not sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 85 | 215 |
of which: Trading portfolio assets | [2] | 85 | 215 |
Total assets held by the vehicles in which UBS had an interest | [2] | 18,000 | 41,000 |
Residential mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 75 | 165 |
Residential mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 75 | 165 |
Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | 32 |
Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 29 | |
Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: defaulted | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | 3 |
Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | 18 |
Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 17 | |
Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | 1 |
Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | of which: not rated | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
Commercial mortgage-backed securities | Sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 32 | 34 |
of which: Trading portfolio assets | [2] | 32 | 34 |
of which: Financial assets designated at fair value | [2] | 0 | 0 |
Total assets held by the vehicles in which UBS had an interest | [2] | 10,000 | 13,000 |
Commercial mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 24 | 34 |
Commercial mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 24 | 34 |
Commercial mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
Commercial mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | |
Commercial mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | |
Commercial mortgage-backed securities | Not sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 7 | 4 |
of which: Trading portfolio assets | [2] | 7 | 4 |
Total assets held by the vehicles in which UBS had an interest | [2] | 5,000 | 8,000 |
Commercial mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 6 | 4 |
Commercial mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 6 | 4 |
Commercial mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | 0 |
Commercial mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | |
Commercial mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | 0 |
Commercial mortgage-backed securities | Not sponsored by UBS | Tranch information not available | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
Other asset-backed securities | Sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | 0 |
of which: Trading portfolio assets | [2],[3] | 0 | 0 |
of which: Financial assets designated at fair value | [2],[3] | 0 | 0 |
Total assets held by the vehicles in which UBS had an interest | [2],[3] | 0 | 0 |
Other asset-backed securities | Sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | 0 |
Other asset-backed securities | Sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | |
Other asset-backed securities | Sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | |
Other asset-backed securities | Not sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 165 | 241 |
of which: Trading portfolio assets | [2],[3] | 165 | 241 |
Total assets held by the vehicles in which UBS had an interest | [2],[3] | 20,000 | 5,000 |
Other asset-backed securities | Not sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 165 | 241 |
Other asset-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 165 | 241 |
Other asset-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | 0 |
Other asset-backed securities | Not sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | 0 |
Other asset-backed securities | Not sponsored by UBS | Tranch information not available | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
Resecuritization | Sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 10 | 14 |
of which: Trading portfolio assets | [2],[4] | 10 | 14 |
of which: Financial assets designated at fair value | [2],[4] | 0 | 0 |
Total assets held by the vehicles in which UBS had an interest | [2],[4] | 1,000 | 1,000 |
Resecuritization | Sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 10 | 14 |
Resecuritization | Sponsored by UBS | Interests in senior tranches | of which: defaulted | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 10 | 14 |
Resecuritization | Sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 0 | |
Resecuritization | Sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 0 | |
Resecuritization | Not sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 64 | 125 |
of which: Trading portfolio assets | [2],[4] | 64 | 125 |
Total assets held by the vehicles in which UBS had an interest | [2],[4] | 0 | 1,000 |
Resecuritization | Not sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 64 | 125 |
Resecuritization | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 64 | 125 |
Resecuritization | Not sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 0 | 0 |
Resecuritization | Not sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 0 | 0 |
Resecuritization | Not sponsored by UBS | Tranch information not available | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
UBS AG | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | 11,403 | 11,491 | |
of which: Trading portfolio assets | 130,807 | 96,661 | |
of which: Financial assets designated at fair value | [1] | 58,556 | 65,024 |
UBS AG | Sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 126 | 152 |
of which: Trading portfolio assets | [2] | 43 | 49 |
of which: Financial assets designated at fair value | [2] | 84 | 103 |
Total assets held by the vehicles in which UBS had an interest | [2] | 12,000 | 16,000 |
UBS AG | Sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 118 | 151 |
UBS AG | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 24 | 34 |
UBS AG | Sponsored by UBS | Interests in senior tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 84 | 103 |
UBS AG | Sponsored by UBS | Interests in senior tranches | of which: defaulted | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 10 | 14 |
UBS AG | Sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | |
UBS AG | Sponsored by UBS | Interests in mezzanine tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | |
UBS AG | Sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | |
UBS AG | Sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | |
UBS AG | Not sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 321 | 585 |
of which: Trading portfolio assets | [2] | 321 | 585 |
Total assets held by the vehicles in which UBS had an interest | [2] | 43,000 | 56,000 |
UBS AG | Not sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 311 | 535 |
UBS AG | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 311 | 535 |
UBS AG | Not sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | 32 |
UBS AG | Not sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | 29 |
UBS AG | Not sponsored by UBS | Interests in mezzanine tranches | of which: defaulted | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | 3 |
UBS AG | Not sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | 18 |
UBS AG | Not sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 17 | |
UBS AG | Not sponsored by UBS | Interests in junior tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | 1 |
UBS AG | Not sponsored by UBS | Tranch information not available | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
UBS AG | Not sponsored by UBS | Tranch information not available | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
UBS AG | Not sponsored by UBS | Tranch information not available | of which: not rated | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 84 | 104 |
of which: Trading portfolio assets | [2] | 0 | 1 |
of which: Financial assets designated at fair value | [2] | 84 | 103 |
Total assets held by the vehicles in which UBS had an interest | [2] | 1,000 | 2,000 |
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 84 | 103 |
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | 0 |
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 84 | 103 |
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | |
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | |
UBS AG | Residential mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 85 | 215 |
of which: Trading portfolio assets | [2] | 85 | 215 |
Total assets held by the vehicles in which UBS had an interest | [2] | 18,000 | 41,000 |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 75 | 165 |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 75 | 165 |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | 32 |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 29 | |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: defaulted | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | 3 |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | 18 |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 17 | |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | of which: rated sub-investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | 1 |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
UBS AG | Residential mortgage-backed securities | Not sponsored by UBS | Tranch information not available | of which: not rated | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 32 | 34 |
of which: Trading portfolio assets | [2] | 32 | 34 |
of which: Financial assets designated at fair value | [2] | 0 | 0 |
Total assets held by the vehicles in which UBS had an interest | [2] | 10,000 | 13,000 |
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 24 | 34 |
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 24 | 34 |
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | |
UBS AG | Commercial mortgage-backed securities | Sponsored by UBS | Interests in junior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 9 | |
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 7 | 4 |
of which: Trading portfolio assets | [2] | 7 | 4 |
Total assets held by the vehicles in which UBS had an interest | [2] | 5,000 | 8,000 |
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 6 | 4 |
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 6 | 4 |
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | 0 |
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 1 | |
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | 0 |
UBS AG | Commercial mortgage-backed securities | Not sponsored by UBS | Tranch information not available | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
UBS AG | Other asset-backed securities | Sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | 0 |
of which: Trading portfolio assets | [2],[3] | 0 | 0 |
of which: Financial assets designated at fair value | [2],[3] | 0 | 0 |
Total assets held by the vehicles in which UBS had an interest | [2],[3] | 0 | 0 |
UBS AG | Other asset-backed securities | Sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | 0 |
UBS AG | Other asset-backed securities | Sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | |
UBS AG | Other asset-backed securities | Sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | |
UBS AG | Other asset-backed securities | Not sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 165 | 241 |
of which: Trading portfolio assets | [2],[3] | 165 | 241 |
Total assets held by the vehicles in which UBS had an interest | [2],[3] | 20,000 | 5,000 |
UBS AG | Other asset-backed securities | Not sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 165 | 241 |
UBS AG | Other asset-backed securities | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 165 | 241 |
UBS AG | Other asset-backed securities | Not sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | 0 |
UBS AG | Other asset-backed securities | Not sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[3] | 0 | 0 |
UBS AG | Other asset-backed securities | Not sponsored by UBS | Tranch information not available | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | 0 | |
UBS AG | Resecuritization | Sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 10 | 14 |
of which: Trading portfolio assets | [2],[4] | 10 | 14 |
of which: Financial assets designated at fair value | [2],[4] | 0 | 0 |
Total assets held by the vehicles in which UBS had an interest | [2],[4] | 1,000 | 1,000 |
UBS AG | Resecuritization | Sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 10 | 14 |
UBS AG | Resecuritization | Sponsored by UBS | Interests in senior tranches | of which: defaulted | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 10 | 14 |
UBS AG | Resecuritization | Sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 0 | |
UBS AG | Resecuritization | Sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 0 | |
UBS AG | Resecuritization | Not sponsored by UBS | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 64 | 125 |
of which: Trading portfolio assets | [2],[4] | 64 | 125 |
Total assets held by the vehicles in which UBS had an interest | [2],[4] | 0 | 1,000 |
UBS AG | Resecuritization | Not sponsored by UBS | Interests in senior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 64 | 125 |
UBS AG | Resecuritization | Not sponsored by UBS | Interests in senior tranches | of which: rated investment grade | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 64 | 125 |
UBS AG | Resecuritization | Not sponsored by UBS | Interests in mezzanine tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 0 | 0 |
UBS AG | Resecuritization | Not sponsored by UBS | Interests in junior tranches | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2],[4] | 0 | SFr 0 |
UBS AG | Resecuritization | Not sponsored by UBS | Tranch information not available | |||
Disclosure Of Unconsolidated Securitisation Vehicles [Line Items] | |||
Total | [2] | SFr 0 | |
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | ||
[2] | This table excludes receivables and derivative transactions with securitization vehicles. | ||
[3] | Includes credit card, auto and student loan structures. | ||
[4] | Includes collateralized debt obligations. |
Interests in unconsolidated 232
Interests in unconsolidated structured entities (Detail 3) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [1] | SFr 6,528 | SFr 6,413 | SFr 6,732 |
Net fee and commission income | 17,186 | 16,397 | 17,140 | |
Net trading income | [1] | 4,972 | 4,948 | 5,742 |
in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | (7) | (3) | |
Net fee and commission income | [2] | 40 | 53 | |
Net trading income | [2] | (55) | (128) | |
Total income | [2] | (21) | (78) | |
Profit attributable to non-controlling interests from unconsolidated structured entities | 72 | 78 | ||
Assets transferred to securitization vehicles by UBS, at time of transfer | 2,000 | 2,000 | ||
Assets transferred to securitization vehicles by third parties, at time of transfer | 8,000 | 5,000 | ||
Assets transferred to client vehicles by entity, at time of transfer | 6,000 | 5,000 | ||
Assets transferred to client vehicles by third parties, at time of transfer | 1,000 | 1,000 | ||
Securitization vehicles | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | 2 | 3 | |
Net fee and commission income | [2] | 0 | 0 | |
Net trading income | [2] | (8) | 2 | |
Total income | [2] | (6) | 4 | |
Asset information | [2],[3] | 10,000 | 7,000 | |
Client vehicles | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | (9) | (6) | |
Net fee and commission income | [2] | 0 | 0 | |
Net trading income | [2] | (49) | (158) | |
Total income | [2] | (58) | (165) | |
Asset information | [2],[4] | 7,000 | 6,000 | |
Investment funds | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [2] | 0 | 0 | |
Net fee and commission income | [2] | 40 | 53 | |
Net trading income | [2] | 2 | 29 | |
Total income | [2] | 43 | 82 | |
Asset information | [2],[5] | 15,000 | 14,000 | |
UBS AG | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [1] | 6,480 | 6,383 | 6,729 |
Net fee and commission income | 17,214 | 16,447 | 17,184 | |
Net trading income | [1] | 4,974 | 4,943 | SFr 5,696 |
UBS AG | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [6] | (7) | (3) | |
Net fee and commission income | [6] | 40 | 53 | |
Net trading income | [6] | (55) | (128) | |
Total income | [6] | (21) | (78) | |
Profit attributable to preferred noteholders from unconsolidated structured entities | 72 | 78 | ||
Assets transferred to securitization vehicles by UBS, at time of transfer | 2,000 | 2,000 | ||
Assets transferred to securitization vehicles by third parties, at time of transfer | 8,000 | 5,000 | ||
Assets transferred to client vehicles by entity, at time of transfer | 6,000 | 5,000 | ||
Assets transferred to client vehicles by third parties, at time of transfer | 1,000 | 1,000 | ||
UBS AG | Securitization vehicles | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [6] | 2 | 3 | |
Net fee and commission income | [6] | 0 | 0 | |
Net trading income | [6] | (8) | 2 | |
Total income | [6] | (6) | 4 | |
Asset information | [3],[6] | 10,000 | 7,000 | |
UBS AG | Client vehicles | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [6] | (9) | (6) | |
Net fee and commission income | [6] | 0 | 0 | |
Net trading income | [6] | (49) | (158) | |
Total income | [6] | (58) | (165) | |
Asset information | [4],[6] | 7,000 | 6,000 | |
UBS AG | Investment funds | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [6] | 0 | 0 | |
Net fee and commission income | [6] | 40 | 53 | |
Net trading income | [6] | 2 | 29 | |
Total income | [6] | 43 | 82 | |
Asset information | [5],[6] | SFr 15,000 | SFr 14,000 | |
[1] | Net interest and trading income presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. | |||
[2] | These tables exclude profit attributable to non-controlling interests of CHF 72 million for the year ended 31 December 2017 and CHF 78 million for the year ended 31 December 2016. | |||
[3] | Represents the amount of assets transferred to the respective securitization vehicles. Of the total amount transferred, CHF 2 billion was transferred by UBS (31 December 2016: CHF 2 billion) and CHF 8 billion was transferred by third parties (31 December 2016: CHF 5 billion). | |||
[4] | Represents total assets transferred to the respective client vehicles. Of the total amount transferred, CHF 6 billion was transferred by UBS (31 December 2016: CHF 5 billion) and CHF 1 billion was transferred by third parties (31 December 2016: CHF 1 billion). | |||
[5] | Represents the total net asset value of the respective investment funds. | |||
[6] | These tables exclude profit attributable to preferred noteholders of CHF 72 million for the year ended 31 December 2017 and CHF 78 million for the year ended 31 December 2016. |
Changes in organization and 233
Changes in organization and disposals (Detail 1) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | SFr 1,168 | SFr 1,458 | SFr 1,235 |
of which: personnel expenses | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 534 | 751 | 460 |
of which: general and administrative expenses | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 627 | 695 | 761 |
of which: depreciation and impairment of property, equipment and software | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 7 | 11 | 12 |
of which: amortization and impairment of intangible assets | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 0 | 0 | 2 |
Wealth Management | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 463 | 447 | 323 |
Wealth Management Americas | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 113 | 139 | 137 |
Personal & Corporate Banking | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 103 | 117 | 101 |
Asset Management | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 100 | 100 | 82 |
Investment Bank | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 359 | 577 | 396 |
Corporate Center | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 30 | 78 | 196 |
Services | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 19 | 57 | 140 |
Corporate Center - Group ALM | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 4 | 0 | 0 |
Non-core and Legacy Portfolio | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 6 | 21 | 56 |
UBS AG | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 1,188 | 1,442 | 1,233 |
UBS AG | of which: personnel expenses | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 362 | 731 | 458 |
UBS AG | of which: general and administrative expenses | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 818 | 700 | 760 |
UBS AG | of which: depreciation and impairment of property, equipment and software | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 7 | 11 | 12 |
UBS AG | of which: amortization and impairment of intangible assets | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 0 | 0 | 2 |
UBS AG | Wealth Management | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 463 | 447 | 323 |
UBS AG | Wealth Management Americas | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 113 | 139 | 137 |
UBS AG | Personal & Corporate Banking | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 103 | 117 | 101 |
UBS AG | Asset Management | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 100 | 100 | 82 |
UBS AG | Investment Bank | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 359 | 577 | 396 |
UBS AG | Corporate Center | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 49 | 62 | 194 |
UBS AG | Services | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 39 | 41 | 138 |
UBS AG | Corporate Center - Group ALM | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | 4 | 0 | 0 |
UBS AG | Non-core and Legacy Portfolio | |||
Restructuring Cost And Reserve [Line Items] | |||
Total net restructuring expenses | SFr 6 | SFr 21 | SFr 56 |
Changes in organization and 234
Changes in organization and disposals (Detail 2) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Net Restructuring Expenses By General And Administrative Expense [Line Items] | ||||
Occupancy | SFr 75 | SFr 123 | SFr 109 | |
Rent and maintenance of IT and other equipment | 93 | 94 | 31 | |
Communication and market data services | 1 | 1 | 0 | |
Administration | 25 | 16 | 6 | |
Marketing and public relations | 1 | 0 | 0 | |
Travel and entertainment | 14 | 16 | 17 | |
Professional fees | 186 | 162 | 187 | |
Outsourcing of IT and other services | 240 | 289 | 316 | |
Other | [1] | (8) | (5) | 95 |
Total net restructuring expenses: general and administrative expenses | 627 | 695 | 761 | |
UBS AG | ||||
Net Restructuring Expenses By General And Administrative Expense [Line Items] | ||||
Occupancy | 75 | 123 | 109 | |
Rent and maintenance of IT and other equipment | 36 | 93 | 31 | |
Communication and market data services | 1 | 1 | 0 | |
Administration | 397 | 28 | 7 | |
Marketing and public relations | 1 | 0 | 0 | |
Travel and entertainment | 8 | 12 | 16 | |
Professional fees | 143 | 162 | 187 | |
Outsourcing of IT and other services | 166 | 287 | 316 | |
Other | [1] | (8) | (5) | 95 |
Total net restructuring expenses: general and administrative expenses | SFr 818 | SFr 700 | SFr 760 | |
[1] | Mainly comprised of onerous real estate lease contracts. |
Changes in organization and 235
Changes in organization and disposals (Detail 3) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net Restructuring Expenses By Personnel Expense [Line Items] | |||
Salaries | SFr 346 | SFr 435 | SFr 312 |
Variable compensation - performance awards | 34 | 102 | 38 |
Variable compensation - other | 98 | 209 | 108 |
Contractors | 62 | 56 | 46 |
Social security | 8 | 8 | 5 |
Pension and other post-employment benefit plans | (29) | (75) | (65) |
Other personnel expenses | 15 | 17 | 15 |
Total net restructuring expenses: personnel expenses | 534 | 751 | 460 |
UBS AG [Member] | |||
Net Restructuring Expenses By Personnel Expense [Line Items] | |||
Salaries | 213 | 422 | 311 |
Variable compensation - performance awards | 22 | 101 | 38 |
Variable compensation - other | 80 | 208 | 108 |
Contractors | 48 | 56 | 46 |
Social security | 6 | 8 | 5 |
Pension and other post-employment benefit plans | (15) | (76) | (65) |
Other personnel expenses | 8 | 12 | 15 |
Total net restructuring expenses: personnel expenses | SFr 362 | SFr 731 | SFr 458 |
Changes in organization and 236
Changes in organization and disposals - Sales of subsidiaries and businesses (Narrative) (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | [1] | SFr 37 | [2] | SFr (150) | SFr 264 |
A life insurance subsidiary within Wealth Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | (23) | ||||
Certain subsidiaries and businesses within Wealth Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | 169 | ||||
Alternative Fund Services business within Asset Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | 56 | ||||
Reclassification Adjustments On Exchange Differences On Translation Before Tax | 119 | ||||
Fund administration servicing units within Asset Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | 153 | ||||
UBS AG | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | [1] | 37 | [2] | (150) | 264 |
UBS AG | A life insurance subsidiary within Wealth Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | SFr (23) | ||||
UBS AG | Certain subsidiaries and businesses within Wealth Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | 169 | ||||
UBS AG | Alternative Fund Services business within Asset Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | 56 | ||||
Reclassification Adjustments On Exchange Differences On Translation Before Tax | SFr 119 | ||||
UBS AG | Fund administration servicing units within Asset Management | |||||
Disclosure Of Sale Of Subsidiaries And Businesses [Line Items] | |||||
Gains (losses) recognised when control is lost | SFr 153 | ||||
[1] | Includes foreign exchange gains / (losses) reclassified from other comprehensive income related to disposed foreign subsidiaries and branches. | ||||
[2] | Net gains / (losses) from disposals of subsidiaries and Other include a net gain on sale of subsidiaries and businesses of CHF 153 million in Asset Management. Refer to Note 30 for more information. |
Changes in organization and 237
Changes in organization and disposals - Transfers of shared services functions to UBS Business Solutions AG (Narrative) (Detail) - UBS AG - Effects due to transfers of shared services functions SFr in Millions | 12 Months Ended |
Dec. 31, 2017CHF (SFr) | |
Disclosure Of Transfers Of Shared Services Functions [Line Items] | |
Reduction in net assets and share premium within equity attributable to shareholders | SFr (307) |
Reduction of net assets | 819 |
Increase (decrease) in operating profit before tax | (200) |
Net increases in Other income | 200 |
Net increases in General and administrative expenses | 1,700 |
Net decreases in Personnel expenses | (1,200) |
Net decreases in Depreciation and impairment of propety, equipment and software | SFr (100) |
Operating leases and finance238
Operating leases and finance leases (Detail 1) SFr in Millions | Dec. 31, 2017CHF (SFr) |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | SFr 4,608 |
Less: Sublease rental income commitments | 262 |
Net commitments for minimum payments under operating leases | 4,346 |
2,018 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 666 |
2,019 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 602 |
2,020 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 516 |
2,021 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 429 |
2,022 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 382 |
2022 and thereafter | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 2,013 |
UBS AG | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 4,526 |
Net commitments for minimum payments under operating leases | 4,265 |
UBS AG | 2018 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 652 |
UBS AG | 2019 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 588 |
UBS AG | 2020 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 506 |
UBS AG | 2021 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 422 |
UBS AG | 2022 | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | 375 |
UBS AG | 2022 and thereafter | |
Disclosure of Operating Lease By Lessee | |
Commitments for minimum payments under operating leases | SFr 1,984 |
Operating leases and finance239
Operating leases and finance leases (Detail 2) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | |||
Gross operating lease expense recognized in the income statement | SFr 725 | SFr 749 | SFr 743 |
Sublease rental income | 67 | 78 | 70 |
Net operating lease expense recognized in the income statement | 658 | 671 | 673 |
UBS AG | |||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | |||
Gross operating lease expense recognized in the income statement | 684 | 737 | 741 |
Sublease rental income | 67 | 78 | 70 |
Net operating lease expense recognized in the income statement | SFr 617 | SFr 659 | SFr 671 |
Operating leases and finance240
Operating leases and finance leases (Detail 3) SFr in Millions | Dec. 31, 2017CHF (SFr) |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | SFr 1,129 |
Unearned finance income | 61 |
Present value | 1,069 |
2,018 | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 333 |
Unearned finance income | 22 |
Present value | 311 |
2019-2022 | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 684 |
Unearned finance income | 36 |
Present value | 648 |
Thereafter | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 112 |
Unearned finance income | 3 |
Present value | 110 |
UBS AG | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 1,129 |
Unearned finance income | 61 |
Present value | 1,069 |
UBS AG | 2018 | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 333 |
Unearned finance income | 22 |
Present value | 311 |
UBS AG | 2019-2022 | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 684 |
Unearned finance income | 36 |
Present value | 648 |
UBS AG | Thereafter | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total minimum lease payments | 112 |
Unearned finance income | 3 |
Present value | SFr 110 |
Operating leases and finance241
Operating leases and finance leases (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2017CHF (SFr) | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Explanation Of Unguaranteed Residual Values Accruing To Benefit Of Lessor | CHF 158 million |
Accumulated Allowance For Uncollectible Minimum Lease Payments Receivable | SFr 10,000,000 |
Contingent Rents Recognised As Income | SFr 0 |
UBS AG | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Explanation Of Unguaranteed Residual Values Accruing To Benefit Of Lessor | CHF 158 million |
Accumulated Allowance For Uncollectible Minimum Lease Payments Receivable | SFr 10,000,000 |
Contingent Rents Recognised As Income | SFr 0 |
Related parties (Narrative) (De
Related parties (Narrative) (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Related Parties [Line Items] | |||
Payments to external board members | SFr 7.1 | SFr 7.2 | SFr 6.7 |
Number of shares held by close family members of key management personnel | 95,597 | ||
Number of shares held by entities that are directly or indirectly controlled or jointly controlled by key management personnel or their close family members | 0 | ||
Description of ownership of UBS Group AG's shares by members of BoD or GEB | As of 31 December 2017, no member of the BoD or GEB was the beneficial owner of more than 1% of UBS Group AG’s shares. | ||
Description of related party transactions with entities controlled by key management personnel | In 2017 and 2016, UBS did not enter into transactions with entities that are directly or indirectly controlled or jointly controlled by UBS’s key management personnel or their close family members and as of 31 December 2017, 31 December 2016 and 31 December 2015, there were no outstanding balances related to such transactions. Furthermore, in 2017 and 2016, entities controlled by key management personnel did not sell any goods or provide any services to UBS, and therefore did not receive any fees from UBS. UBS also did not provide services to such entities in 2017 and 2016, and therefore also received no fees. | ||
UBS AG | |||
Related Parties [Line Items] | |||
Payments to external board members | SFr 7.1 | SFr 7.2 | SFr 6.7 |
Number of shares held by close family members of key management personnel | 95,597 | ||
Number of shares held by entities that are directly or indirectly controlled or jointly controlled by key management personnel or their close family members | 0 | ||
Description of ownership of UBS Group AG's shares by members of BoD or GEB | As of 31 December 2017, no member of the BoD or GEB was the beneficial owner of more than 1% of UBS Group AG’s shares. | ||
Description of related party transactions with entities controlled by key management personnel | In 2017 and 2016, UBS did not enter into transactions with entities that are directly or indirectly controlled or jointly controlled by UBS’s key management personnel or their close family members and as of 31 December 2017, 31 December 2016 and 31 December 2015, there were no outstanding balances related to such transactions. Furthermore, in 2017 and 2016, entities controlled by key management personnel did not sell any goods or provide any services to UBS, and therefore did not receive any fees from UBS. UBS also did not provide services to such entities in 2017 and 2016, and therefore also received no fees. |
Related parties (Detail 1)
Related parties (Detail 1) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Remuneration Of Key Management Personnel [Line Items] | ||||
Base salaries and other cash payments | [1] | SFr 25 | SFr 25 | SFr 23 |
Incentive awards - cash | [2] | 15 | 11 | 10 |
Annual incentive award under DCCP | 22 | 22 | 21 | |
Employer's contributions to retirement benefit plans | 3 | 3 | 2 | |
Benefits in kind, fringe benefits (at market value) | 2 | 2 | 2 | |
Equity-based compensation | [3] | 40 | 41 | 42 |
Total | SFr 106 | SFr 104 | SFr 99 | |
Vesting period of shares granted to key management personnel | 5 years | 5 years | 5 years | |
UBS AG | ||||
Remuneration Of Key Management Personnel [Line Items] | ||||
Base salaries and other cash payments | [1] | SFr 23 | SFr 24 | SFr 21 |
Incentive awards - cash | [2] | 13 | 10 | 9 |
Annual incentive award under DCCP | 20 | 20 | 20 | |
Employer's contributions to retirement benefit plans | 2 | 2 | 1 | |
Benefits in kind, fringe benefits (at market value) | 2 | 2 | 2 | |
Equity-based compensation | [3] | 36 | 38 | 39 |
Total | SFr 98 | SFr 97 | SFr 92 | |
Vesting period of shares granted to key management personnel | 5 years | 5 years | 5 years | |
[1] | Includes role-based allowances that have been made in line with market practice in response to the EU Capital Requirements Directive of 2013 (CRD IV). | |||
[2] | Includes immediate and deferred cash. | |||
[3] | Expenses for shares granted are calculated at grant date of the respective award and allocated over the vesting period, generally for 5 years. Refer to Note 27 for more information. In 2017, 2016 and 2015, equity-based compensation was entirely comprised of EOP awards. |
Related parties (Detail 2)
Related parties (Detail 2) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Equity Holdings Of Key Management Personnel [Line Items] | |||
Number of stock options from equity participation plans held by non-independent members of the BoD and the GEB members. | [1] | 398,867 | 620,950 |
Number of shares held by members of the BoD, GEB and parties closely linked to them. | [2] | 3,709,539 | 3,267,911 |
UBS AG | |||
Equity Holdings Of Key Management Personnel [Line Items] | |||
Number of stock options from equity participation plans held by non-independent members of the BoD and the GEB members. | [1] | 398,867 | 620,950 |
Number of shares held by members of the BoD, GEB and parties closely linked to them. | [2] | 3,709,539 | 3,267,911 |
[1] | Refer to Note 27 for more information. | ||
[2] | Excludes shares granted under variable compensation plans with forfeiture provisions. |
Related parties (Detail 3)
Related parties (Detail 3) - CHF (SFr) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | |||
Loans Advances And Mortgages To Key Management Personnel [Line Items] | ||||
Balance at the beginning of the year | [1] | SFr 41,000,000 | [2] | SFr 33,000,000 |
Additions | [1] | 1,000,000 | 21,000,000 | |
Reductions | [1] | (1,000,000) | (13,000,000) | |
Balance at the end of the year | [1],[2] | 41,000,000 | 41,000,000 | |
Unused uncommitted credit facilities of one GEB and one BoD member | 5,196,294 | 2,684,498 | ||
UBS AG | ||||
Loans Advances And Mortgages To Key Management Personnel [Line Items] | ||||
Balance at the beginning of the year | [1] | 33,000,000 | [3] | 33,000,000 |
Additions | [1] | 1,000,000 | 13,000,000 | |
Reductions | [1] | (1,000,000) | (13,000,000) | |
Balance at the end of the year | [1],[3] | 34,000,000 | 33,000,000 | |
Unused uncommitted credit facilities of one GEB and one BoD member | SFr 5,196,294 | SFr 2,684,498 | ||
[1] | All loans are secured loans. | |||
[2] | Excludes unused uncommitted credit facilities for two GEB members and one BoD member of CHF 5,196,294 as of 31 December 2017 and for one GEB and one BoD member of CHF 2,684,498 as of 31 December 2016. | |||
[3] | Excludes unused uncommitted credit facilities for two EB members and one BoD member of CHF 5,196,294 as of 31 December 2017 and for one EB and one BoD member of CHF 2,684,498 as of 31 December 2016. |
Related parties (Detail 4)
Related parties (Detail 4) - CHF (SFr) SFr in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding Balances For Related Party Transactions [Line Items] | ||
Carrying value at the beginning of the year | SFr 472 | SFr 476 |
Additions | 82 | 4 |
Reductions | (3) | (8) |
Carrying value at the end of the year | 551 | 472 |
of which: unsecured loans | 540 | 461 |
Other transactions with associates and joint ventures | ||
Payments to associates and joint ventures for goods and services received | 177 | 153 |
Fees received for services provided to associates and joint ventures | 2 | 3 |
Commitments and contingent liabilities to associates and joint ventures | 4 | 4 |
UBS AG | ||
Outstanding Balances For Related Party Transactions [Line Items] | ||
Carrying value at the beginning of the year | 472 | 476 |
Additions | 82 | 4 |
Reductions | (3) | (8) |
Carrying value at the end of the year | 551 | 472 |
of which: unsecured loans | 540 | 461 |
Other transactions with associates and joint ventures | ||
Payments to associates and joint ventures for goods and services received | 177 | 153 |
Fees received for services provided to associates and joint ventures | 2 | 3 |
Commitments and contingent liabilities to associates and joint ventures | SFr 4 | SFr 4 |
Related parties (Detail 5)
Related parties (Detail 5) - UBS AG - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Receivables | |||
Loans | SFr 2,152 | SFr 681 | |
Trading portfolio assets | 98 | 84 | |
Other assets | 113 | 35 | |
Payables | |||
Due to customers | [1] | 38,150 | 26,527 |
Other liabilities | SFr 1,547 | SFr 1,111 | |
[1] | 1 Includes Group-internal funding obtained from UBS Group AG and UBS Group Funding (Switzerland) AG of CHF 35 billion as of 31 December 2017 (31 December 2016: CHF 25 billion). |
Invested assets and net new 248
Invested assets and net new money (Detail 1) - CHF (SFr) SFr in Billions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Invested Assets And Net New Money [Line Items] | ||||
Fund assets managed by UBS | SFr 330 | SFr 275 | ||
Discretionary assets | 1,025 | 886 | ||
Other invested assets | [1] | 1,824 | 1,649 | |
Total invested assets | [1],[2] | 3,179 | 2,810 | SFr 2,678 |
of which: double counts | 204 | 176 | ||
Net new money | [2] | 104 | 27 | |
Increase (decrease) due to corrections of prior period errors | ||||
Invested Assets And Net New Money [Line Items] | ||||
Total invested assets | 12 | 11 | ||
UBS AG | ||||
Invested Assets And Net New Money [Line Items] | ||||
Fund assets managed by UBS | 330 | 275 | ||
Discretionary assets | 1,025 | 886 | ||
Other invested assets | [1] | 1,824 | 1,649 | |
Total invested assets | [1],[2] | 3,179 | 2,810 | 2,678 |
of which: double counts | 204 | 176 | ||
Net new money | [2] | SFr 104 | 27 | |
UBS AG | Increase (decrease) due to corrections of prior period errors | ||||
Invested Assets And Net New Money [Line Items] | ||||
Total invested assets | SFr 12 | SFr 11 | ||
[1] | Certain account types were corrected during 2017. As a result, invested assets as of 31 December 2016 and 31 December 2015 were corrected by CHF 12 billion and CHF 11 billion, respectively. | |||
[2] | Includes double counts. |
Invested assets and net new 249
Invested assets and net new money (Detail 2) - CHF (SFr) SFr in Billions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Development Of Invested Assets [Line Items] | |||
Total invested assets at the beginning of the year | [1],[2] | SFr 2,810 | SFr 2,678 |
Net new money | [2] | 104 | 27 |
Market movements | [3] | 313 | 98 |
Foreign currency translation | (45) | 21 | |
Other effects | (3) | (14) | |
of which: acquisitions / (divestments) | 4 | (14) | |
Total invested assets at the end of the year | [1],[2] | 3,179 | 2,810 |
Increase (decrease) due to corrections of prior period errors | |||
Development Of Invested Assets [Line Items] | |||
Total invested assets at the beginning of the year | 12 | 11 | |
Total invested assets at the end of the year | 12 | ||
UBS AG | |||
Development Of Invested Assets [Line Items] | |||
Total invested assets at the beginning of the year | [1],[2] | 2,810 | 2,678 |
Net new money | [2] | 104 | 27 |
Market movements | [3] | 313 | 98 |
Foreign currency translation | (45) | 21 | |
Other effects | (3) | (14) | |
of which: acquisitions / (divestments) | 4 | (14) | |
Total invested assets at the end of the year | [1],[2] | 3,179 | 2,810 |
UBS AG | Increase (decrease) due to corrections of prior period errors | |||
Development Of Invested Assets [Line Items] | |||
Total invested assets at the beginning of the year | SFr 12 | 11 | |
Total invested assets at the end of the year | SFr 12 | ||
[1] | Certain account types were corrected during 2017. As a result, invested assets as of 31 December 2016 and 31 December 2015 were corrected by CHF 12 billion and CHF 11 billion, respectively. | ||
[2] | Includes double counts. | ||
[3] | Includes interest and dividend income. |
Currency translation rates (Det
Currency translation rates (Detail) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
1 USD | ||||
Foreign Exchange Rates [Line Items] | ||||
Spot rate | 0.97 | 1.02 | ||
Average rate | [1] | 0.98 | 0.99 | 0.97 |
1 EUR | ||||
Foreign Exchange Rates [Line Items] | ||||
Spot rate | 1.17 | 1.07 | ||
Average rate | [1] | 1.12 | 1.09 | 1.06 |
1 GBP | ||||
Foreign Exchange Rates [Line Items] | ||||
Spot rate | 1.32 | 1.26 | ||
Average rate | [1] | 1.28 | 1.32 | 1.47 |
100 JPY | ||||
Foreign Exchange Rates [Line Items] | ||||
Spot rate | 0.86 | 0.87 | ||
Average rate | [1] | 0.88 | 0.91 | 0.8 |
UBS AG | 1 USD | ||||
Foreign Exchange Rates [Line Items] | ||||
Spot rate | 0.97 | 1.02 | ||
Average rate | [1] | 0.98 | 0.99 | 0.97 |
UBS AG | 1 EUR | ||||
Foreign Exchange Rates [Line Items] | ||||
Spot rate | 1.17 | 1.07 | ||
Average rate | [1] | 1.12 | 1.09 | 1.06 |
UBS AG | 1 GBP | ||||
Foreign Exchange Rates [Line Items] | ||||
Spot rate | 1.32 | 1.26 | ||
Average rate | [1] | 1.28 | 1.32 | 1.47 |
UBS AG | 100 JPY | ||||
Foreign Exchange Rates [Line Items] | ||||
Spot rate | 0.86 | 0.87 | ||
Average rate | [1] | 0.88 | 0.91 | 0.8 |
[1] | Monthly income statement items of foreign operations with a functional currency other than the Swiss franc are translated with month-end rates into Swiss francs. Disclosed average rates for a year represent an average of 12 month-end rates, weighted according to the income and expense volumes of all foreign operations of the Group with the same functional currency for each month. Weighted average rates for individual business divisions may deviate from the weighted average rates for the Group. |
Supplemental guarantor infor251
Supplemental guarantor information (Narrative) (Detail) - UBS AG SFr in Millions | Dec. 31, 2017CHF (SFr) |
Supplemental Guarantor Information [Line Items] | |
Outstanding amount of Paine Webber securities | SFr 1 |
UBS Preferred Funding Trust IV [Member] | |
Supplemental Guarantor Information [Line Items] | |
Outstanding amount of trust preferred securities issued by the structured entity | 0 |
UBS Preferred Funding Trust V [Member] | |
Supplemental Guarantor Information [Line Items] | |
Outstanding amount of trust preferred securities issued by the structured entity | SFr 0 |
Supplemental guarantor consolid
Supplemental guarantor consolidated income statement (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
Condensed Income Statements Captions [Line Items] | |||||||
Interest income | SFr 14,193 | SFr 13,787 | SFr 13,177 | ||||
Interest expense | (7,665) | (7,373) | (6,445) | ||||
Net interest income | [1] | 6,528 | 6,413 | 6,732 | |||
Credit loss (expense) / recovery | (128) | (37) | (117) | ||||
Net interest income after credit loss expense | 6,400 | 6,376 | 6,615 | ||||
Net fee and commission income | 17,186 | 16,397 | 17,140 | ||||
Net trading income | [1] | 4,972 | 4,948 | 5,742 | |||
Other income | 509 | 599 | 1,107 | ||||
Total operating income | 29,067 | 28,320 | [2] | 30,605 | [2] | ||
Personnel expenses | [3] | 15,889 | 15,720 | 15,981 | |||
General and administrative expenses | [4] | 6,808 | 7,434 | 8,107 | |||
Depreciation and impairment of property, equipment and software | 1,033 | 985 | 920 | ||||
Amortization and impairment of intangible assets | [5] | 70 | 91 | 107 | |||
Total operating expenses | [6] | 23,800 | 24,230 | 25,116 | |||
Operating profit / (loss) before tax | 5,268 | 4,090 | 5,489 | ||||
Tax expense / (benefit) | 4,139 | 805 | (898) | ||||
Net profit / (loss) | 1,128 | 3,286 | 6,386 | ||||
Net profit / (loss) attributable to non-controlling interests | 76 | 82 | 183 | ||||
Net profit / (loss) attributable to shareholders | 1,053 | 3,204 | 6,203 | ||||
UBS AG (consolidated) | |||||||
Condensed Income Statements Captions [Line Items] | |||||||
Interest income | 14,208 | 13,782 | 13,178 | ||||
Interest expense | (7,728) | (7,399) | (6,449) | ||||
Net interest income | [1] | 6,480 | 6,383 | 6,729 | |||
Credit loss (expense) / recovery | (128) | (37) | (117) | ||||
Net interest income after credit loss expense | 6,352 | 6,346 | 6,612 | ||||
Net fee and commission income | 17,214 | 16,447 | 17,184 | ||||
Net trading income | [1] | 4,974 | 4,943 | 5,696 | |||
Other income | 939 | 685 | 1,112 | ||||
Total operating income | 29,479 | 28,421 | [2] | 30,605 | [2] | ||
Personnel expenses | [7] | 14,673 | [8] | 15,591 | 15,954 | ||
General and administrative expenses | [9] | 8,811 | [10] | 7,690 | 8,219 | ||
Depreciation and impairment of property, equipment and software | 928 | 980 | 918 | ||||
Amortization and impairment of intangible assets | [5] | 70 | 91 | 107 | |||
Total operating expenses | [6] | 24,481 | 24,352 | 25,198 | |||
Operating profit / (loss) before tax | 4,998 | 4,069 | 5,407 | ||||
Tax expense / (benefit) | 4,077 | 781 | (908) | ||||
Net profit / (loss) | 921 | 3,288 | 6,314 | ||||
Net profit / (loss) attributable to preferred noteholders | 72 | 78 | 77 | ||||
Net profit / (loss) attributable to non-controlling interests | 4 | 4 | 3 | ||||
Net profit / (loss) attributable to shareholders | 845 | 3,207 | 6,235 | ||||
UBS AG (consolidated) | Elimination entries | |||||||
Condensed Income Statements Captions [Line Items] | |||||||
Interest income | (2,815) | (2,269) | (2,020) | ||||
Interest expense | 2,724 | 2,054 | 1,892 | ||||
Net interest income | (91) | (215) | (128) | ||||
Credit loss (expense) / recovery | 39 | 0 | |||||
Net interest income after credit loss expense | (53) | (215) | (128) | ||||
Net fee and commission income | (47) | (40) | (81) | ||||
Net trading income | 71 | (318) | (756) | ||||
Other income | (7,388) | (10,027) | (15,243) | ||||
Total operating income | (7,417) | (10,600) | (16,208) | ||||
Personnel expenses | 0 | 0 | 0 | ||||
General and administrative expenses | (5,455) | (6,891) | (5,880) | ||||
Depreciation and impairment of property, equipment and software | 0 | 0 | 0 | ||||
Amortization and impairment of intangible assets | 0 | 0 | 0 | ||||
Total operating expenses | (5,455) | (6,891) | (5,880) | ||||
Operating profit / (loss) before tax | (1,962) | (3,710) | (10,327) | ||||
Tax expense / (benefit) | (1) | (7) | (16) | ||||
Net profit / (loss) | (1,962) | (3,703) | (10,313) | ||||
Net profit / (loss) attributable to preferred noteholders | 0 | (31) | (31) | ||||
Net profit / (loss) attributable to non-controlling interests | 0 | 0 | 0 | ||||
Net profit / (loss) attributable to shareholders | (1,962) | (3,672) | (10,281) | ||||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | |||||||
Condensed Income Statements Captions [Line Items] | |||||||
Interest income | [11] | 8,632 | 8,500 | 9,102 | |||
Interest expense | [11] | (7,114) | (6,686) | (5,885) | |||
Net interest income | [11] | 1,518 | 1,815 | 3,218 | |||
Credit loss (expense) / recovery | [11] | (135) | (24) | (109) | |||
Net interest income after credit loss expense | [11] | 1,382 | 1,790 | 3,109 | |||
Net fee and commission income | [11] | 1,564 | 1,500 | 2,738 | |||
Net trading income | [11] | 3,325 | 3,717 | 5,031 | |||
Other income | [11] | 4,303 | 8,113 | 15,371 | |||
Total operating income | [11] | 10,574 | 15,120 | 26,249 | |||
Personnel expenses | [11] | 4,409 | 5,691 | 6,800 | |||
General and administrative expenses | [11] | 4,830 | 5,213 | 5,439 | |||
Depreciation and impairment of property, equipment and software | [11] | 652 | 699 | 672 | |||
Amortization and impairment of intangible assets | [11] | 8 | 22 | 22 | |||
Total operating expenses | [11] | 9,899 | 11,625 | 12,934 | |||
Operating profit / (loss) before tax | [11] | 675 | 3,495 | 13,315 | |||
Tax expense / (benefit) | [11] | 448 | 892 | 1,136 | |||
Net profit / (loss) | [11] | 227 | 2,603 | 12,180 | |||
Net profit / (loss) attributable to preferred noteholders | [11] | 72 | 78 | 77 | |||
Net profit / (loss) attributable to non-controlling interests | [11] | 0 | 0 | 0 | |||
Net profit / (loss) attributable to shareholders | [11] | 155 | 2,525 | 12,103 | |||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | |||||||
Condensed Income Statements Captions [Line Items] | |||||||
Interest income | [11] | 3,917 | 4,151 | 3,039 | |||
Interest expense | [11] | (596) | (714) | (545) | |||
Net interest income | [11] | 3,321 | 3,438 | 2,494 | |||
Credit loss (expense) / recovery | [11] | (22) | (3) | (12) | |||
Net interest income after credit loss expense | [11] | 3,299 | 3,434 | 2,482 | |||
Net fee and commission income | [11] | 3,966 | 3,782 | 3,001 | |||
Net trading income | [11] | 901 | 780 | 735 | |||
Other income | [11] | 167 | 346 | 120 | |||
Total operating income | [11] | 8,334 | 8,343 | 6,338 | |||
Personnel expenses | [11] | 2,020 | 2,044 | 1,607 | |||
General and administrative expenses | [11] | 3,334 | 3,507 | 2,621 | |||
Depreciation and impairment of property, equipment and software | [11] | 11 | 12 | 11 | |||
Amortization and impairment of intangible assets | [11] | 0 | 0 | 0 | |||
Total operating expenses | [11] | 5,366 | 5,563 | 4,239 | |||
Operating profit / (loss) before tax | [11] | 2,968 | 2,780 | 2,099 | |||
Tax expense / (benefit) | [11] | 616 | 589 | 489 | |||
Net profit / (loss) | [11] | 2,351 | 2,191 | 1,610 | |||
Net profit / (loss) attributable to preferred noteholders | [11] | 0 | 0 | 0 | |||
Net profit / (loss) attributable to non-controlling interests | [11] | 0 | 0 | 0 | |||
Net profit / (loss) attributable to shareholders | [11] | 2,351 | 2,191 | 1,610 | |||
UBS AG (consolidated) | UBS Americas Inc. | Reportable legal entities | |||||||
Condensed Income Statements Captions [Line Items] | |||||||
Interest income | [12] | 2,732 | 2,227 | 1,367 | |||
Interest expense | [12] | (1,307) | (1,135) | (501) | |||
Net interest income | [12] | 1,425 | 1,092 | 866 | |||
Credit loss (expense) / recovery | [12] | (4) | (6) | 0 | |||
Net interest income after credit loss expense | [12] | 1,421 | 1,086 | 866 | |||
Net fee and commission income | [12] | 8,281 | 7,873 | 7,940 | |||
Net trading income | [12] | 457 | 454 | 355 | |||
Other income | [12] | 419 | 576 | 774 | |||
Total operating income | [12] | 10,577 | 9,988 | 9,935 | |||
Personnel expenses | [12] | 6,312 | 6,243 | 6,281 | |||
General and administrative expenses | [12] | 3,014 | 3,402 | 3,785 | |||
Depreciation and impairment of property, equipment and software | [12] | 156 | 184 | 159 | |||
Amortization and impairment of intangible assets | [12] | 51 | 60 | 73 | |||
Total operating expenses | [12] | 9,532 | 9,889 | 10,298 | |||
Operating profit / (loss) before tax | [12] | 1,045 | 99 | (362) | |||
Tax expense / (benefit) | [12] | 2,800 | (1,175) | (1,200) | |||
Net profit / (loss) | [12] | (1,755) | 1,274 | 837 | |||
Net profit / (loss) attributable to preferred noteholders | [12] | 0 | 0 | 0 | |||
Net profit / (loss) attributable to non-controlling interests | [12] | 0 | 0 | 0 | |||
Net profit / (loss) attributable to shareholders | [12] | (1,755) | 1,274 | 837 | |||
UBS AG (consolidated) | UBS Preferred Funding Trust IV & V | Reportable legal entities | |||||||
Condensed Income Statements Captions [Line Items] | |||||||
Interest income | 25 | 63 | |||||
Net interest income | 25 | 63 | |||||
Net interest income after credit loss expense | 25 | 63 | |||||
Total operating income | 25 | 63 | |||||
Operating profit / (loss) before tax | 25 | 63 | |||||
Net profit / (loss) | 25 | 63 | |||||
Net profit / (loss) attributable to preferred noteholders | 31 | 31 | |||||
Net profit / (loss) attributable to shareholders | (6) | 32 | |||||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | |||||||
Condensed Income Statements Captions [Line Items] | |||||||
Interest income | [12] | 1,742 | 1,148 | 1,626 | |||
Interest expense | [12] | (1,434) | (919) | (1,410) | |||
Net interest income | [12] | 308 | 229 | 217 | |||
Credit loss (expense) / recovery | [12] | (5) | (3) | 4 | |||
Net interest income after credit loss expense | [12] | 303 | 226 | 220 | |||
Net fee and commission income | [12] | 3,449 | 3,332 | 3,586 | |||
Net trading income | [12] | 220 | 310 | 331 | |||
Other income | [12] | 3,439 | 1,677 | 89 | |||
Total operating income | [12] | 7,411 | 5,545 | 4,227 | |||
Personnel expenses | [12] | 1,932 | 1,613 | 1,265 | |||
General and administrative expenses | [12] | 3,087 | 2,458 | 2,254 | |||
Depreciation and impairment of property, equipment and software | [12] | 108 | 85 | 76 | |||
Amortization and impairment of intangible assets | [12] | 11 | 9 | 12 | |||
Total operating expenses | [12] | 5,138 | 4,165 | 3,607 | |||
Operating profit / (loss) before tax | [12] | 2,273 | 1,380 | 619 | |||
Tax expense / (benefit) | [12] | 213 | 482 | (1,317) | |||
Net profit / (loss) | [12] | 2,059 | 898 | 1,936 | |||
Net profit / (loss) attributable to preferred noteholders | [12] | 0 | 0 | 0 | |||
Net profit / (loss) attributable to non-controlling interests | [12] | 4 | 4 | 3 | |||
Net profit / (loss) attributable to shareholders | [12] | SFr 2,056 | SFr 894 | SFr 1,933 | |||
[1] | Net interest and trading income presented for business divisions and Corporate Center units includes allocations from Corporate Center – Group ALM. | ||||||
[2] | The geographical allocation of Total operating income has been restated to reflect a refinement in the allocation methodology. | ||||||
[3] | Includes net restructuring expenses of CHF 534 million, CHF 751 million and CHF 460 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[4] | Includes net restructuring expenses of CHF 627 million, CHF 695 million and CHF 761 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[5] | Refer to Note 15 for more information. | ||||||
[6] | Refer to Note 30 for information on restructuring expenses. | ||||||
[7] | Includes net restructuring expenses of CHF 362 million, CHF 731 million and CHF 458 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[8] | The decrease in 2017 was mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. | ||||||
[9] | Includes net restructuring expenses of CHF 818 million, CHF 700 million and CHF 760 million for the years ended 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 30 for more information. | ||||||
[10] | The increase in 2017 in shared services costs charged by UBS Group AG or its subsidiaries and the associated decrease in certain direct cost lines were mainly due to the transfer of shared services functions from UBS AG to UBS Business Solutions AG. Refer to Note 30 for more information. | ||||||
[11] | Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under "Complementary financial information for legal entities and sub-groups" at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. | ||||||
[12] | Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. |
Supplemental guarantor conso253
Supplemental guarantor consolidated statement of comprehensive income (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | SFr 1,128 | SFr 3,286 | SFr 6,386 | |
Foreign currency translation, net of tax | 352 | 271 | (95) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (1,237) | (447) | (814) | |
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | [1] | 288 | (824) | 304 |
Own credit on financial liabilities designated at fair value, net of tax | (313) | (115) | ||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 326 | (669) | 208 | |
Total other comprehensive income | (911) | (1,116) | (605) | |
Total comprehensive income | 218 | 2,170 | 5,781 | |
Other comprehensive income that may be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total other comprehensive income | (1,237) | (447) | (814) | |
Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total other comprehensive income | 326 | (669) | 208 | |
Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 1,053 | 3,204 | 6,203 | |
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | 288 | (824) | 298 | |
Total other comprehensive income | (1,263) | (1,386) | (506) | |
Total comprehensive income | (210) | 1,817 | 5,698 | |
Comprehensive income attributable to shareholders | Other comprehensive income that may be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Foreign currency translation, net of tax | (530) | 292 | (231) | |
Financial assets available for sale, net of tax | (86) | (73) | (63) | |
Cash flow hedges, net of tax | (621) | (666) | (509) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (1,237) | (447) | (804) | |
Comprehensive income attributable to shareholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | 288 | (824) | 298 | |
Own credit on financial liabilities designated at fair value, net of tax | (313) | (115) | ||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (25) | (939) | 298 | |
Non-controlling interests | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 76 | 82 | 183 | |
Foreign currency translation, net of tax | 352 | 271 | (95) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (10) | |||
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | 0 | 0 | 5 | |
Total other comprehensive income | 352 | 271 | (99) | |
Total comprehensive income | 428 | 352 | 83 | |
Non-controlling interests | Other comprehensive income that may be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | 0 | 0 | (10) | |
Non-controlling interests | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Foreign currency translation, net of tax | 352 | 271 | (95) | |
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | 0 | 0 | 5 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 352 | 271 | (90) | |
UBS AG (consolidated) | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 921 | 3,288 | 6,314 | |
Foreign currency translation, net of tax | 352 | 271 | (61) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (1,242) | (447) | (848) | |
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | [1] | 305 | (824) | 304 |
Own credit on financial liabilities designated at fair value, net of tax | (313) | (115) | ||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 344 | (669) | 243 | |
Total other comprehensive income | (898) | (1,115) | (606) | |
Total comprehensive income | 23 | 2,173 | 5,709 | |
UBS AG (consolidated) | Other comprehensive income that may be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total other comprehensive income | (1,242) | (447) | (848) | |
UBS AG (consolidated) | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total other comprehensive income | 344 | (669) | 243 | |
UBS AG (consolidated) | Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 845 | 3,207 | 6,235 | |
Total other comprehensive income | (1,250) | (1,386) | (545) | |
Total comprehensive income | (404) | 1,820 | 5,690 | |
UBS AG (consolidated) | Comprehensive income attributable to shareholders | Other comprehensive income that may be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Foreign currency translation, net of tax | (535) | 293 | (266) | |
Financial assets available for sale, net of tax | (86) | (73) | (64) | |
Cash flow hedges, net of tax | (621) | (666) | (518) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (1,242) | (447) | (848) | |
UBS AG (consolidated) | Comprehensive income attributable to shareholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | 305 | (824) | 304 | |
Own credit on financial liabilities designated at fair value, net of tax | (313) | (115) | ||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (8) | (939) | 304 | |
UBS AG (consolidated) | Preferred noteholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 72 | 78 | 77 | |
Foreign currency translation, net of tax | 351 | 271 | (59) | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 351 | 271 | (59) | |
Total comprehensive income | 423 | 349 | 18 | |
UBS AG (consolidated) | Preferred noteholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Foreign currency translation, net of tax | 351 | 271 | (59) | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 351 | 271 | (59) | |
UBS AG (consolidated) | Non-controlling interests | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 4 | 4 | 3 | |
Foreign currency translation, net of tax | 1 | 0 | (2) | |
Total other comprehensive income | 1 | 0 | (2) | |
Total comprehensive income | 5 | 3 | 1 | |
UBS AG (consolidated) | Non-controlling interests | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Foreign currency translation, net of tax | 1 | 0 | (2) | |
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | 0 | 0 | 0 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 1 | 0 | (2) | |
UBS AG (consolidated) | UBS Preferred Funding Trust IV and V | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | 0 | ||
UBS AG (consolidated) | Elimination entries | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | (1,962) | (3,703) | (10,313) | |
Total comprehensive income | (2,069) | (3,282) | (9,832) | |
UBS AG (consolidated) | Elimination entries | Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | (1,962) | (3,672) | (10,281) | |
Total other comprehensive income | (107) | 390 | 489 | |
Total comprehensive income | (2,069) | (3,282) | (9,792) | |
UBS AG (consolidated) | Elimination entries | Comprehensive income attributable to shareholders | Other comprehensive income that may be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Foreign currency translation, net of tax | (40) | 379 | 467 | |
Financial assets available for sale, net of tax | (93) | 6 | (19) | |
Cash flow hedges, net of tax | 1 | 29 | 57 | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (132) | 415 | 504 | |
UBS AG (consolidated) | Elimination entries | Comprehensive income attributable to shareholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | 25 | (25) | (15) | |
Own credit on financial liabilities designated at fair value, net of tax | 0 | |||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 25 | (25) | (15) | |
UBS AG (consolidated) | Elimination entries | Preferred noteholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | Elimination entries | Non-controlling interests | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | Elimination entries | UBS Preferred Funding Trust IV and V | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | (40) | |||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | [2] | 227 | 2,603 | 12,180 |
Total comprehensive income | (101) | 1,617 | 12,257 | |
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 155 | 2,525 | 12,103 | |
Total other comprehensive income | (679) | (1,257) | 136 | |
Total comprehensive income | (524) | 1,268 | 12,239 | |
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | Other comprehensive income that may be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Foreign currency translation, net of tax | (170) | 335 | (11) | |
Financial assets available for sale, net of tax | (6) | (22) | (51) | |
Cash flow hedges, net of tax | (465) | (805) | (503) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (641) | (491) | (564) | |
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | 275 | (651) | 701 | |
Own credit on financial liabilities designated at fair value, net of tax | (313) | (115) | ||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (38) | (766) | 701 | |
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | Preferred noteholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 423 | 349 | 18 | |
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | Non-controlling interests | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | 0 | ||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | UBS Preferred Funding Trust IV and V | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | [2] | 2,351 | 2,191 | 1,610 |
Total comprehensive income | 2,174 | 2,214 | 1,244 | |
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 2,351 | 2,191 | 1,610 | |
Total other comprehensive income | (177) | 23 | (366) | |
Total comprehensive income | 2,174 | 2,214 | 1,244 | |
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | Other comprehensive income that may be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Foreign currency translation, net of tax | 0 | 0 | 0 | |
Financial assets available for sale, net of tax | 2 | (33) | 43 | |
Cash flow hedges, net of tax | (157) | 109 | (72) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (156) | 77 | (29) | |
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | (22) | (54) | (337) | |
Own credit on financial liabilities designated at fair value, net of tax | 0 | |||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (22) | (54) | (337) | |
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | Preferred noteholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | Non-controlling interests | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | UBS Preferred Funding Trust IV and V | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | UBS Americas Inc. | Reportable legal entities | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | [3] | (1,755) | 1,274 | 837 |
Total comprehensive income | (2,423) | 1,492 | 866 | |
UBS AG (consolidated) | UBS Americas Inc. | Reportable legal entities | Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | (1,755) | 1,274 | 837 | |
Total other comprehensive income | (668) | 218 | 29 | |
Total comprehensive income | (2,423) | 1,492 | 866 | |
UBS AG (consolidated) | UBS Americas Inc. | Reportable legal entities | Comprehensive income attributable to shareholders | Other comprehensive income that may be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Foreign currency translation, net of tax | (751) | 285 | 121 | |
Financial assets available for sale, net of tax | 43 | (8) | (21) | |
Cash flow hedges, net of tax | 0 | 0 | 0 | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (709) | 277 | 100 | |
UBS AG (consolidated) | UBS Americas Inc. | Reportable legal entities | Comprehensive income attributable to shareholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | 41 | (59) | (71) | |
Own credit on financial liabilities designated at fair value, net of tax | 0 | |||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 41 | (59) | (71) | |
UBS AG (consolidated) | UBS Americas Inc. | Reportable legal entities | Preferred noteholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | UBS Americas Inc. | Reportable legal entities | Non-controlling interests | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | UBS Americas Inc. | Reportable legal entities | UBS Preferred Funding Trust IV and V | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | UBS Preferred Funding Trust IV & V | Reportable legal entities | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 25 | 63 | ||
Total comprehensive income | (6) | 72 | ||
UBS AG (consolidated) | UBS Preferred Funding Trust IV & V | Reportable legal entities | Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | (6) | 32 | ||
Total other comprehensive income | 0 | 0 | ||
Total comprehensive income | (6) | 32 | ||
UBS AG (consolidated) | UBS Preferred Funding Trust IV & V | Reportable legal entities | Comprehensive income attributable to shareholders | Other comprehensive income that may be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | 0 | 0 | ||
UBS AG (consolidated) | UBS Preferred Funding Trust IV & V | Reportable legal entities | Comprehensive income attributable to shareholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 0 | 0 | ||
UBS AG (consolidated) | UBS Preferred Funding Trust IV & V | Reportable legal entities | Preferred noteholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | UBS Preferred Funding Trust IV & V | Reportable legal entities | Non-controlling interests | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | UBS Preferred Funding Trust IV & V | Reportable legal entities | UBS Preferred Funding Trust IV and V | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 40 | |||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | [3] | 2,059 | 898 | 1,936 |
Total comprehensive income | 2,441 | 137 | 1,102 | |
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 2,056 | 894 | 1,933 | |
Total other comprehensive income | 380 | (761) | (832) | |
Total comprehensive income | 2,436 | 133 | 1,101 | |
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | Comprehensive income attributable to shareholders | Other comprehensive income that may be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Foreign currency translation, net of tax | 426 | (707) | (843) | |
Financial assets available for sale, net of tax | (31) | (18) | (16) | |
Cash flow hedges, net of tax | (1) | 0 | 0 | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | 394 | (725) | (859) | |
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | Comprehensive income attributable to shareholders | Other comprehensive income that will not be reclassified to the income statement | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | (14) | (36) | 27 | |
Own credit on financial liabilities designated at fair value, net of tax | 0 | |||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (14) | (36) | 27 | |
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | Preferred noteholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | 0 | |||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | Non-controlling interests | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | SFr 5 | SFr 3 | 1 | |
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | UBS Preferred Funding Trust IV and V | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Total comprehensive income | SFr 0 | |||
[1] | Refer to the “Statement of comprehensive income”. | |||
[2] | Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under "Complementary financial information for legal entities and sub-groups" at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. | |||
[3] | Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. |
Supplemental guarantor conso254
Supplemental guarantor consolidated balance sheet (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Assets | |||||||
Cash and balances with central banks | [1] | SFr 87,775 | SFr 107,767 | ||||
Due from banks | [1] | 13,739 | 13,156 | ||||
Cash collateral on securities borrowed | [1] | 12,393 | 15,111 | ||||
Reverse repurchase agreements | [1] | 77,240 | 66,246 | ||||
Trading portfolio assets | 130,707 | 96,575 | |||||
of which: assets pledged as collateral which may be sold or repledged by counterparties | 35,363 | 30,260 | |||||
Positive replacement values | [1],[2],[3],[4] | 118,227 | 158,411 | ||||
Cash collateral receivables on derivative instruments | [1] | 23,434 | 26,664 | ||||
Loans | [1],[5] | 319,568 | 306,325 | ||||
Financial assets designated at fair value | [1] | 58,933 | 65,353 | ||||
Financial assets available for sale | [1],[6] | 8,665 | 15,676 | ||||
Financial assets held to maturity | [1] | 9,166 | 9,289 | ||||
Investments in associates | 1,018 | 963 | SFr 954 | ||||
Property, equipment and software | 8,829 | [7],[8] | 8,331 | [7],[8] | 7,695 | ||
Goodwill and intangible assets | 6,398 | 6,556 | |||||
Deferred tax assets | 9,844 | 13,155 | |||||
Other assets | 29,706 | 25,436 | |||||
Total assets | 915,642 | 935,016 | 942,819 | ||||
Liabilities | |||||||
Due to banks | 7,533 | [9],[10] | 10,645 | ||||
Cash collateral on securities lent | 1,789 | [9],[10] | 2,818 | ||||
Repurchase agreements | 15,255 | [9],[10] | 6,612 | ||||
Trading portfolio liabilities | 30,463 | [9],[10],[11],[12] | 22,824 | ||||
Negative replacement values | [2],[4],[13] | 116,133 | [9],[10],[11] | 153,810 | |||
Cash collateral payables on derivative instruments | 30,247 | [9],[10] | 35,472 | ||||
Due to customers | 408,999 | [9],[10] | 423,672 | ||||
Financial liabilities designated at fair value | 54,202 | 55,017 | |||||
Debt issued | [14] | 139,551 | 103,649 | ||||
Provisions | 3,133 | 4,174 | |||||
Other liabilities | 57,064 | 62,020 | |||||
Total liabilities | 864,371 | 880,714 | |||||
Equity | |||||||
Equity attributable to shareholders | 51,214 | 53,621 | |||||
Equity attributable to non-controlling interests | 57 | 682 | |||||
Total equity | 51,271 | 54,302 | 57,308 | SFr 54,368 | |||
Total liabilities and equity | 915,642 | 935,016 | |||||
UBS AG (consolidated) | |||||||
Assets | |||||||
Cash and balances with central banks | [1] | 87,775 | 107,767 | ||||
Due from banks | [1] | 13,693 | 13,125 | ||||
Cash collateral on securities borrowed | [1] | 12,393 | 15,111 | ||||
Reverse repurchase agreements | [1] | 77,240 | 66,246 | ||||
Trading portfolio assets | 130,807 | 96,661 | |||||
of which: assets pledged as collateral which may be sold or repledged by counterparties | 35,363 | 30,260 | |||||
Positive replacement values | [1],[2],[3],[4] | 118,229 | 158,411 | ||||
Cash collateral receivables on derivative instruments | [1] | 23,434 | 26,664 | ||||
Loans | [1],[5] | 321,718 | 307,004 | ||||
Financial assets designated at fair value | [1] | 58,556 | 65,024 | ||||
Financial assets available for sale | [1],[6] | 8,665 | 15,676 | ||||
Financial assets held to maturity | [1] | 9,166 | 9,289 | ||||
Investments in associates | 1,018 | 963 | 954 | ||||
Property, equipment and software | 7,985 | [7],[15] | 8,297 | [7],[15] | 7,683 | ||
Goodwill and intangible assets | 6,398 | 6,556 | |||||
Deferred tax assets | 9,783 | 13,144 | |||||
Other assets | 29,505 | 25,412 | |||||
Total assets | 916,363 | 935,353 | 943,256 | ||||
Liabilities | |||||||
Due to banks | 7,533 | [9],[10] | 10,645 | ||||
Cash collateral on securities lent | 1,789 | [9],[10] | 2,818 | ||||
Repurchase agreements | 15,255 | [9],[10] | 6,612 | ||||
Trading portfolio liabilities | 30,463 | [9],[10],[11],[12] | 22,825 | ||||
Negative replacement values | [2],[4],[13] | 116,134 | [9],[10],[11] | 153,810 | |||
Cash collateral payables on derivative instruments | 30,247 | [9],[10] | 35,472 | ||||
Due to customers | 447,141 | [9],[10] | 450,199 | ||||
Financial liabilities designated at fair value | 54,202 | 55,017 | |||||
Debt issued | [14] | 104,749 | 78,998 | ||||
Provisions | 3,084 | 4,169 | |||||
Other liabilities | 54,990 | 60,443 | |||||
Total liabilities | 865,588 | 881,009 | |||||
Equity | |||||||
Equity attributable to shareholders | 50,718 | 53,662 | |||||
Equity attributable to preferred noteholders | 0 | 642 | |||||
Equity attributable to non-controlling interests | 57 | 40 | |||||
Total equity | 50,775 | 54,343 | SFr 57,243 | SFr 54,165 | |||
Total liabilities and equity | 916,363 | 935,353 | |||||
UBS AG (consolidated) | Elimination entries | |||||||
Assets | |||||||
Cash and balances with central banks | 0 | 0 | |||||
Due from banks | (92,112) | (57,948) | |||||
Cash collateral on securities borrowed | (35,448) | (16,284) | |||||
Reverse repurchase agreements | (27,955) | (27,722) | |||||
Trading portfolio assets | (7,723) | (6,615) | |||||
of which: assets pledged as collateral which may be sold or repledged by counterparties | (32,877) | (17,145) | |||||
Positive replacement values | (34,004) | (40,149) | |||||
Cash collateral receivables on derivative instruments | (12,565) | (11,135) | |||||
Loans | (44,903) | (63,091) | |||||
Financial assets designated at fair value | (2,481) | (3,849) | |||||
Financial assets available for sale | (3,145) | (4,536) | |||||
Financial assets held to maturity | 0 | 0 | |||||
Investments in subsidiaries and associates | (48,657) | (48,991) | |||||
Property, equipment and software | 0 | 0 | |||||
Goodwill and intangible assets | (58) | (32) | |||||
Deferred tax assets | 0 | 0 | |||||
Other assets | (3,389) | (3,071) | |||||
Total assets | (312,442) | (283,424) | |||||
Liabilities | |||||||
Due to banks | (92,631) | (68,572) | |||||
Cash collateral on securities lent | (35,448) | (16,284) | |||||
Repurchase agreements | (27,955) | (27,722) | |||||
Trading portfolio liabilities | (7,145) | (6,287) | |||||
Negative replacement values | (34,004) | (40,149) | |||||
Cash collateral payables on derivative instruments | (12,565) | (11,135) | |||||
Due to customers | (46,977) | (56,641) | |||||
Financial liabilities designated at fair value | (2,762) | (4,047) | |||||
Debt issued | (711) | (437) | |||||
Provisions | 0 | 21 | |||||
Other liabilities | (3,428) | (3,099) | |||||
Total liabilities | (263,626) | (234,353) | |||||
Equity | |||||||
Equity attributable to shareholders | (48,816) | (49,072) | |||||
Equity attributable to preferred noteholders | 0 | ||||||
Equity attributable to non-controlling interests | 0 | ||||||
Total equity | (48,816) | (49,072) | |||||
Total liabilities and equity | (312,442) | (283,424) | |||||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | |||||||
Assets | |||||||
Cash and balances with central banks | [16] | 36,552 | 40,538 | ||||
Due from banks | [16] | 30,467 | 30,008 | ||||
Cash collateral on securities borrowed | [16] | 9,907 | 6,561 | ||||
Reverse repurchase agreements | [16] | 51,293 | 52,782 | ||||
Trading portfolio assets | [16] | 104,118 | 74,172 | ||||
of which: assets pledged as collateral which may be sold or repledged by counterparties | [16] | 58,524 | 39,596 | ||||
Positive replacement values | [16] | 114,044 | 156,375 | ||||
Cash collateral receivables on derivative instruments | [16] | 22,346 | 22,117 | ||||
Loans | [16] | 106,469 | 94,506 | ||||
Financial assets designated at fair value | [16] | 34,097 | 35,498 | ||||
Financial assets available for sale | [16] | 3,607 | 8,104 | ||||
Financial assets held to maturity | [16] | 950 | 527 | ||||
Investments in subsidiaries and associates | [16] | 49,632 | 49,904 | ||||
Property, equipment and software | [16] | 6,384 | 6,961 | ||||
Goodwill and intangible assets | [16] | 294 | 297 | ||||
Deferred tax assets | [16] | 1,252 | 1,801 | ||||
Other assets | [16] | 18,157 | 10,645 | ||||
Total assets | [16] | 589,570 | 590,796 | ||||
Liabilities | |||||||
Due to banks | [16] | 24,361 | 27,992 | ||||
Cash collateral on securities lent | [16] | 29,898 | 13,193 | ||||
Repurchase agreements | [16] | 18,264 | 16,944 | ||||
Trading portfolio liabilities | [16] | 24,358 | 15,535 | ||||
Negative replacement values | [16] | 111,448 | 151,274 | ||||
Cash collateral payables on derivative instruments | [16] | 27,768 | 31,585 | ||||
Due to customers | [16] | 118,684 | 118,934 | ||||
Financial liabilities designated at fair value | [16] | 53,532 | 54,504 | ||||
Debt issued | [16] | 96,572 | 70,558 | ||||
Provisions | [16] | 1,057 | 1,483 | ||||
Other liabilities | [16] | 30,430 | 31,879 | ||||
Total liabilities | [16] | 536,372 | 533,881 | ||||
Equity | |||||||
Equity attributable to shareholders | [16] | 53,198 | 56,273 | ||||
Equity attributable to preferred noteholders | [16] | 642 | |||||
Equity attributable to non-controlling interests | [16] | 0 | |||||
Total equity | [16] | 53,198 | 56,915 | ||||
Total liabilities and equity | [16] | 589,570 | 590,796 | ||||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | |||||||
Assets | |||||||
Cash and balances with central banks | [16] | 38,467 | 44,528 | ||||
Due from banks | [16] | 3,977 | 3,886 | ||||
Cash collateral on securities borrowed | [16] | 20,972 | 6,657 | ||||
Reverse repurchase agreements | [16] | 13,858 | 19,273 | ||||
Trading portfolio assets | [16] | 1,719 | 1,673 | ||||
of which: assets pledged as collateral which may be sold or repledged by counterparties | [16] | 0 | 0 | ||||
Positive replacement values | [16] | 4,123 | 5,458 | ||||
Cash collateral receivables on derivative instruments | [16] | 696 | 913 | ||||
Loans | [16] | 184,331 | 184,241 | ||||
Financial assets designated at fair value | [16] | 12,768 | 16,416 | ||||
Financial assets available for sale | [16] | 790 | 2,046 | ||||
Financial assets held to maturity | [16] | 8,215 | 8,762 | ||||
Investments in subsidiaries and associates | [16] | 15 | 22 | ||||
Property, equipment and software | [16] | 92 | 19 | ||||
Goodwill and intangible assets | [16] | 0 | 0 | ||||
Deferred tax assets | [16] | 421 | 601 | ||||
Other assets | [16] | 1,179 | 1,526 | ||||
Total assets | [16] | 291,624 | 296,022 | ||||
Liabilities | |||||||
Due to banks | [16] | 20,728 | 13,204 | ||||
Cash collateral on securities lent | [16] | 1,323 | 1,518 | ||||
Repurchase agreements | [16] | 321 | 5,385 | ||||
Trading portfolio liabilities | [16] | 250 | 154 | ||||
Negative replacement values | [16] | 3,675 | 4,982 | ||||
Cash collateral payables on derivative instruments | [16] | 60 | 109 | ||||
Due to customers | [16] | 241,313 | 248,731 | ||||
Financial liabilities designated at fair value | [16] | 0 | 0 | ||||
Debt issued | [16] | 8,367 | 8,330 | ||||
Provisions | [16] | 145 | 186 | ||||
Other liabilities | [16] | 2,246 | 2,212 | ||||
Total liabilities | [16] | 278,430 | 284,811 | ||||
Equity | |||||||
Equity attributable to shareholders | [16] | 13,194 | 11,211 | ||||
Equity attributable to preferred noteholders | [16] | 0 | |||||
Equity attributable to non-controlling interests | [16] | 0 | |||||
Total equity | [16] | 13,194 | 11,211 | ||||
Total liabilities and equity | [16] | 291,624 | 296,022 | ||||
UBS AG (consolidated) | UBS Americas Inc. | Reportable legal entities | |||||||
Assets | |||||||
Cash and balances with central banks | [17] | 3,100 | 8,925 | ||||
Due from banks | [17] | 4,712 | 3,759 | ||||
Cash collateral on securities borrowed | [17] | 10,775 | 13,173 | ||||
Reverse repurchase agreements | [17] | 20,676 | 14,406 | ||||
Trading portfolio assets | [17] | 6,720 | 4,702 | ||||
of which: assets pledged as collateral which may be sold or repledged by counterparties | [17] | 2,303 | 1,960 | ||||
Positive replacement values | [17] | 12,948 | 9,496 | ||||
Cash collateral receivables on derivative instruments | [17] | 2,129 | 2,701 | ||||
Loans | [17] | 51,743 | 50,150 | ||||
Financial assets designated at fair value | [17] | 3,351 | 5,371 | ||||
Financial assets available for sale | [17] | 6,495 | 6,593 | ||||
Financial assets held to maturity | [17] | 0 | 0 | ||||
Investments in subsidiaries and associates | [17] | 1 | 1 | ||||
Property, equipment and software | [17] | 979 | 1,075 | ||||
Goodwill and intangible assets | [17] | 4,880 | 5,130 | ||||
Deferred tax assets | [17] | 5,999 | 9,148 | ||||
Other assets | [17] | 11,101 | 9,071 | ||||
Total assets | [17] | 145,611 | 143,702 | ||||
Liabilities | |||||||
Due to banks | [17] | 3,160 | 5,288 | ||||
Cash collateral on securities lent | [17] | 2,243 | 2,549 | ||||
Repurchase agreements | [17] | 12,681 | 2,710 | ||||
Trading portfolio liabilities | [17] | 3,877 | 3,643 | ||||
Negative replacement values | [17] | 12,932 | 9,491 | ||||
Cash collateral payables on derivative instruments | [17] | 2,215 | 2,409 | ||||
Due to customers | [17] | 79,684 | 85,702 | ||||
Financial liabilities designated at fair value | [17] | 104 | 1 | ||||
Debt issued | [17] | 8 | 145 | ||||
Provisions | [17] | 1,682 | 2,168 | ||||
Other liabilities | [17] | 10,117 | 11,100 | ||||
Total liabilities | [17] | 128,702 | 125,206 | ||||
Equity | |||||||
Equity attributable to shareholders | [17] | 16,909 | 18,496 | ||||
Equity attributable to preferred noteholders | [17] | 0 | |||||
Equity attributable to non-controlling interests | [17] | 0 | |||||
Total equity | [17] | 16,909 | 18,496 | ||||
Total liabilities and equity | [17] | 145,610 | 143,702 | ||||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | |||||||
Assets | |||||||
Cash and balances with central banks | [17] | 9,656 | 13,775 | ||||
Due from banks | [17] | 66,649 | 33,420 | ||||
Cash collateral on securities borrowed | [17] | 6,188 | 5,004 | ||||
Reverse repurchase agreements | [17] | 19,368 | 7,507 | ||||
Trading portfolio assets | [17] | 25,974 | 22,729 | ||||
of which: assets pledged as collateral which may be sold or repledged by counterparties | [17] | 7,411 | 5,850 | ||||
Positive replacement values | [17] | 21,118 | 27,231 | ||||
Cash collateral receivables on derivative instruments | [17] | 10,828 | 12,068 | ||||
Loans | [17] | 24,078 | 41,199 | ||||
Financial assets designated at fair value | [17] | 10,820 | 11,589 | ||||
Financial assets available for sale | [17] | 918 | 3,469 | ||||
Financial assets held to maturity | [17] | 0 | 0 | ||||
Investments in subsidiaries and associates | [17] | 27 | 27 | ||||
Property, equipment and software | [17] | 529 | 241 | ||||
Goodwill and intangible assets | [17] | 1,281 | 1,161 | ||||
Deferred tax assets | [17] | 2,110 | 1,595 | ||||
Other assets | [17] | 2,456 | 7,241 | ||||
Total assets | [17] | 202,001 | 188,257 | ||||
Liabilities | |||||||
Due to banks | [17] | 51,915 | 32,733 | ||||
Cash collateral on securities lent | [17] | 3,774 | 1,841 | ||||
Repurchase agreements | [17] | 11,945 | 9,295 | ||||
Trading portfolio liabilities | [17] | 9,122 | 9,780 | ||||
Negative replacement values | [17] | 22,082 | 28,213 | ||||
Cash collateral payables on derivative instruments | [17] | 12,768 | 12,504 | ||||
Due to customers | [17] | 54,438 | 53,474 | ||||
Financial liabilities designated at fair value | [17] | 3,329 | 4,559 | ||||
Debt issued | [17] | 514 | 401 | ||||
Provisions | [17] | 200 | 312 | ||||
Other liabilities | [17] | 15,625 | 18,352 | ||||
Total liabilities | [17] | 185,711 | 171,464 | ||||
Equity | |||||||
Equity attributable to shareholders | [17] | 16,233 | 16,754 | ||||
Equity attributable to preferred noteholders | [17] | 0 | |||||
Equity attributable to non-controlling interests | [17] | 57 | 40 | ||||
Total equity | [17] | 16,290 | 16,793 | ||||
Total liabilities and equity | [17] | SFr 202,001 | SFr 188,257 | ||||
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | ||||||
[2] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. | ||||||
[3] | PRV: Positive replacement value. | ||||||
[4] | Refer to Note 24 for more information on netting arrangements. | ||||||
[5] | Includes finance lease receivables of CHF 1.1 billion as of 31 December 2017 (31 December 2016: CHF 1.0 billion). Refer to Notes 10 and 31 for more information. | ||||||
[6] | Refer to Note 22c for more information on product type and fair value hierarchy categorization. | ||||||
[7] | As of 31 December 2017, contractual commitments to purchase property in the future amounted to approximately CHF 0.3 billion (31 December 2016: approximately CHF 0.3 billion). | ||||||
[8] | Includes CHF 28 million related to leased assets, mainly IT hardware and communication. | ||||||
[9] | Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. | ||||||
[10] | Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. | ||||||
[11] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | ||||||
[12] | Contractual maturities of trading portfolio liabilities are: CHF 29.5 billion due within one month (2016: CHF 21.8 billion), CHF 0.8 billion due between one month and one year (2016: CHF 1.0 billion) and CHF 0.1 billion due between 1 and 5 years (2016: CHF 0.1 billion). | ||||||
[13] | NRV: Negative replacement value. | ||||||
[14] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | ||||||
[15] | Includes CHF 22 million related to leased assets, mainly IT hardware and communication. | ||||||
[16] | Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information for legal entities and sub-groups” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. | ||||||
[17] | Amounts presented in these columns serve as a basis for preparing UBS AG consolidated financial statements in accordance with IFRS. |
Supplemental guarantor conso255
Supplemental guarantor consolidated statement of cash flows (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | SFr (50,911) | SFr (16,457) | SFr 3,109 | ||||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | (102) | (26) | (13) | ||||
Disposal of subsidiaries, associates and intangible assets | [1] | 336 | 93 | 477 | |||
Purchase of property, equipment and software | (1,593) | (1,777) | (1,841) | ||||
Disposal of property, equipment and software | 68 | 209 | 542 | ||||
Purchase of financial assets available for sale | (8,448) | (7,271) | (101,189) | ||||
Disposal and redemption of financial assets available for sale | 14,917 | 54,097 | 93,584 | ||||
Net (purchase) / redemption of financial assets held to maturity | (77) | (8,996) | |||||
Net cash flow from / (used in) investing activities | 5,100 | 36,328 | (8,441) | ||||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | 24,141 | 5,440 | (6,404) | ||||
Distributions paid on UBS shares | (2,229) | (3,164) | (2,760) | ||||
Issuance of long-term debt, including financial liabilities designated at fair value | 49,506 | 33,256 | 47,790 | ||||
Repayment of long-term debt, including financial liabilities designated at fair value | (43,299) | (33,885) | (44,221) | ||||
Net cash flow from / (used in) financing activities | 26,608 | (972) | (6,595) | ||||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | 121,138 | [2] | 103,044 | [2] | 116,715 | ||
Net cash flow from / (used in) operating, investing and financing activities | (19,203) | 18,900 | (11,928) | ||||
Effects of exchange rate differences on cash and cash equivalents | 265 | (806) | (1,742) | ||||
Cash and cash equivalents at the end of the year | [2] | 102,200 | 121,138 | 103,044 | |||
of which cash and balances with central banks | 87,700 | 107,715 | 91,306 | ||||
of which: due from banks | 12,452 | 11,959 | 10,814 | ||||
of which: money market paper | [3] | 2,049 | 1,465 | 924 | |||
UBS AG (consolidated) | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | (51,872) | (17,413) | 1,997 | ||||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | (102) | (26) | (13) | ||||
Disposal of subsidiaries, associates and intangible assets | [4] | 336 | 93 | 477 | |||
Purchase of property, equipment and software | (1,500) | (1,746) | (1,841) | ||||
Disposal of property, equipment and software | 213 | 209 | 547 | ||||
Purchase of financial assets available for sale | (8,448) | (7,271) | (101,189) | ||||
Disposal and redemption of financial assets available for sale | 14,917 | 54,097 | 93,584 | ||||
Net (purchase) / redemption of financial assets held to maturity | (77) | (8,996) | |||||
Net cash flow from / (used in) investing activities | 5,338 | 36,359 | (8,434) | ||||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | 24,141 | 5,440 | (6,404) | ||||
Distributions paid on UBS shares | (2,250) | (3,434) | (2,626) | ||||
Issuance of long-term debt, including financial liabilities designated at fair value | 49,506 | 33,453 | 47,790 | ||||
Repayment of long-term debt, including financial liabilities designated at fair value | (43,299) | (34,081) | (44,221) | ||||
Dividends paid and repayments of preferred notes | (776) | (1,366) | (108) | ||||
Net changes in non-controlling interests | (5) | (5) | (5) | ||||
Net activity related to group internal capital transactions and dividends | 0 | 0 | 0 | [5] | |||
Net cash flow from / (used in) financing activities | 27,317 | 6 | (5,573) | ||||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | 121,107 | [2],[6] | 102,962 | [2] | 116,715 | ||
Net cash flow from / (used in) operating, investing and financing activities | (19,216) | 18,952 | (12,011) | ||||
Effects of exchange rate differences on cash and cash equivalents | 264 | (807) | (1,742) | ||||
Cash and cash equivalents at the end of the year | [2] | 102,154 | [7] | 121,107 | [6] | 102,962 | |
of which cash and balances with central banks | 87,700 | 107,715 | 91,306 | ||||
of which: due from banks | 12,406 | 11,927 | 10,732 | ||||
of which: money market paper | [3] | 2,049 | [8] | 1,465 | [8] | 924 | [9] |
Dividends paid to preferred note holders | 1,317 | ||||||
Transfer of cash and cash equivalents from UBS AG to UBS Switzerland AG | 33,283 | ||||||
UBS AG (consolidated) | UBS AG | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | (34,372) | [10] | (26,981) | [11] | (1,457) | [12] | |
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | (1) | [10] | 0 | [11] | (12) | [12] | |
Disposal of subsidiaries, associates and intangible assets | [4] | 289 | [10] | 93 | [11] | 464 | [12] |
Purchase of property, equipment and software | (1,032) | [10] | (1,332) | [11] | (1,423) | [12] | |
Disposal of property, equipment and software | 1 | [10] | 175 | [11] | 503 | [12] | |
Purchase of financial assets available for sale | (231) | [10] | (694) | [11] | (66,659) | [12] | |
Disposal and redemption of financial assets available for sale | 3,385 | [10] | 24,902 | [11] | 51,515 | [12] | |
Net (purchase) / redemption of financial assets held to maturity | (448) | [10] | (527) | [11] | |||
Net cash flow from / (used in) investing activities | 1,964 | [10] | 22,616 | [11] | (15,613) | [12] | |
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | 24,195 | [10] | 8,229 | [11] | (5,603) | [12] | |
Distributions paid on UBS shares | (2,250) | [10] | (3,434) | [11] | (2,626) | [12] | |
Issuance of long-term debt, including financial liabilities designated at fair value | 48,484 | [10] | 31,484 | [11] | 46,882 | [12] | |
Repayment of long-term debt, including financial liabilities designated at fair value | (41,722) | [10] | (32,279) | [11] | (42,415) | [12] | |
Dividends paid and repayments of preferred notes | (776) | [10] | (1,366) | [11] | (108) | [12] | |
Net changes in non-controlling interests | 0 | [10] | 0 | [11] | 0 | [12] | |
Net activity related to group internal capital transactions and dividends | 1,242 | [10] | (1,333) | [11] | (30,512) | [5],[12] | |
Net cash flow from / (used in) financing activities | 29,173 | [10] | 1,300 | [11] | (34,382) | [12] | |
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | 44,269 | [6],[11] | 47,902 | [12],[13] | 100,662 | ||
Net cash flow from / (used in) operating, investing and financing activities | (3,236) | [10] | (3,065) | [11] | (51,451) | [12] | |
Effects of exchange rate differences on cash and cash equivalents | (511) | [10] | (569) | [11] | (1,309) | [12] | |
Cash and cash equivalents at the end of the year | 40,522 | [7],[10] | 44,269 | [6],[11] | 47,902 | [12],[13] | |
of which cash and balances with central banks | 36,477 | [10] | 40,486 | [11] | 45,125 | [12] | |
of which: due from banks | 2,285 | [10] | 2,836 | [11] | 2,072 | [12] | |
of which: money market paper | 1,760 | [8],[10] | 946 | [8],[11] | 704 | [9],[12] | |
UBS AG (consolidated) | UBS Switzerland AG | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | (8,192) | [10] | (3,914) | [11] | 2,681 | [12] | |
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | (2) | [10] | (3) | [11] | 0 | [12] | |
Disposal of subsidiaries, associates and intangible assets | [4] | 0 | [10] | 0 | [11] | 0 | [12] |
Purchase of property, equipment and software | (83) | [10] | (16) | [11] | (5) | [12] | |
Disposal of property, equipment and software | 0 | [10] | 0 | [11] | 0 | [12] | |
Purchase of financial assets available for sale | 0 | [10] | (998) | [11] | (18,686) | [12] | |
Disposal and redemption of financial assets available for sale | 1,282 | [10] | 21,729 | [11] | 22,501 | [12] | |
Net (purchase) / redemption of financial assets held to maturity | 370 | [10] | (8,468) | [11] | |||
Net cash flow from / (used in) investing activities | 1,567 | [10] | 12,245 | [11] | 3,810 | [12] | |
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | (5) | [10] | (7) | [11] | 24 | [12] | |
Distributions paid on UBS shares | 0 | [10] | 0 | [11] | 0 | [12] | |
Issuance of long-term debt, including financial liabilities designated at fair value | 622 | [10] | 733 | [11] | 772 | [12] | |
Repayment of long-term debt, including financial liabilities designated at fair value | (580) | [10] | (669) | [11] | (402) | [12] | |
Dividends paid and repayments of preferred notes | 0 | [10] | 0 | [11] | 0 | [12] | |
Net changes in non-controlling interests | 0 | [10] | 0 | [11] | 0 | [12] | |
Net activity related to group internal capital transactions and dividends | (191) | [10] | (2,000) | [11] | 33,293 | [5],[12] | |
Net cash flow from / (used in) financing activities | (154) | [10] | (1,943) | [11] | 33,687 | [12] | |
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | 46,629 | [6],[11] | 40,246 | [12],[13] | 0 | ||
Net cash flow from / (used in) operating, investing and financing activities | (6,780) | [10] | 6,388 | [11] | 40,178 | [12] | |
Effects of exchange rate differences on cash and cash equivalents | 79 | [10] | (4) | [11] | 67 | [12] | |
Cash and cash equivalents at the end of the year | 39,928 | [7],[10] | 46,629 | [6],[11] | 40,246 | [12],[13] | |
of which cash and balances with central banks | 38,467 | [10] | 44,528 | [11] | 38,701 | [12] | |
of which: due from banks | 1,455 | [10] | 2,095 | [11] | 1,438 | [12] | |
of which: money market paper | 7 | [8],[10] | 7 | [8],[11] | 107 | [9],[12] | |
UBS AG (consolidated) | UBS Americas Inc. | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | (4,859) | [10] | 8,979 | [11] | (525) | [12] | |
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | (17) | [10] | 0 | [11] | 1 | [12] | |
Disposal of subsidiaries, associates and intangible assets | [4] | 0 | [10] | 0 | [11] | 13 | [12] |
Purchase of property, equipment and software | (291) | [10] | (288) | [11] | (299) | [12] | |
Disposal of property, equipment and software | 53 | [10] | 1 | [11] | 9 | [12] | |
Purchase of financial assets available for sale | (2,855) | [10] | (2,792) | [11] | (2,722) | [12] | |
Disposal and redemption of financial assets available for sale | 2,777 | [10] | 1,694 | [11] | 2,952 | [12] | |
Net (purchase) / redemption of financial assets held to maturity | 0 | [10] | 0 | [11] | |||
Net cash flow from / (used in) investing activities | (333) | [10] | (1,384) | [11] | (47) | [12] | |
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | 0 | [10] | (2,975) | [11] | (826) | [12] | |
Distributions paid on UBS shares | 0 | [10] | 0 | [11] | 0 | [12] | |
Issuance of long-term debt, including financial liabilities designated at fair value | 103 | [10] | 196 | [11] | 7 | [12] | |
Repayment of long-term debt, including financial liabilities designated at fair value | (129) | [10] | (8) | [11] | (129) | [12] | |
Dividends paid and repayments of preferred notes | 0 | [10] | 0 | [11] | 0 | [12] | |
Net changes in non-controlling interests | 0 | [10] | 0 | [11] | 0 | [12] | |
Net activity related to group internal capital transactions and dividends | 883 | [10] | 0 | [11] | (114) | [5],[12] | |
Net cash flow from / (used in) financing activities | 857 | [10] | (2,786) | [11] | (1,062) | [12] | |
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | 11,892 | [6],[11] | 7,084 | [12],[13] | 8,960 | ||
Net cash flow from / (used in) operating, investing and financing activities | (4,335) | [10] | 4,808 | [11] | (1,634) | [12] | |
Effects of exchange rate differences on cash and cash equivalents | (400) | [10] | 0 | [11] | (241) | [12] | |
Cash and cash equivalents at the end of the year | 7,157 | [7],[10] | 11,892 | [6],[11] | 7,084 | [12],[13] | |
of which cash and balances with central banks | 3,100 | [10] | 8,925 | [11] | 4,971 | [12] | |
of which: due from banks | 3,945 | [10] | 2,931 | [11] | 2,009 | [12] | |
of which: money market paper | 112 | [8],[10] | 36 | [8],[11] | 104 | [9],[12] | |
UBS AG (consolidated) | Other subsidiaries | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | (4,448) | [10] | 4,503 | [11] | 1,298 | [12] | |
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | (82) | [10] | (23) | [11] | 0 | [12] | |
Disposal of subsidiaries, associates and intangible assets | [4] | 46 | [10] | 0 | [11] | 0 | [12] |
Purchase of property, equipment and software | (94) | [10] | (111) | [11] | (114) | [12] | |
Disposal of property, equipment and software | 160 | [10] | 32 | [11] | 35 | [12] | |
Purchase of financial assets available for sale | (5,362) | [10] | (2,788) | [11] | (13,123) | [12] | |
Disposal and redemption of financial assets available for sale | 7,473 | [10] | 5,772 | [11] | 16,616 | [12] | |
Net (purchase) / redemption of financial assets held to maturity | 0 | [10] | 0 | [11] | |||
Net cash flow from / (used in) investing activities | 2,140 | [10] | 2,882 | [11] | 3,415 | [12] | |
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | (49) | [10] | 193 | [11] | 0 | [12] | |
Distributions paid on UBS shares | 0 | [10] | 0 | [11] | 0 | [12] | |
Issuance of long-term debt, including financial liabilities designated at fair value | 297 | [10] | 1,039 | [11] | 129 | [12] | |
Repayment of long-term debt, including financial liabilities designated at fair value | (867) | [10] | (1,126) | [11] | (1,274) | [12] | |
Dividends paid and repayments of preferred notes | 0 | [10] | 0 | [11] | 0 | [12] | |
Net changes in non-controlling interests | (5) | [10] | (5) | [11] | (5) | [12] | |
Net activity related to group internal capital transactions and dividends | (1,934) | [10] | 3,333 | [11] | (2,666) | [5],[12] | |
Net cash flow from / (used in) financing activities | (2,558) | [10] | 3,435 | [11] | (3,817) | [12] | |
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | 18,317 | [6],[11],[13] | 7,731 | [12],[13] | 7,093 | ||
Net cash flow from / (used in) operating, investing and financing activities | (4,866) | [10] | 10,821 | [11] | 896 | [12] | |
Effects of exchange rate differences on cash and cash equivalents | 1,096 | [10] | (234) | [11] | (259) | [12] | |
Cash and cash equivalents at the end of the year | 14,547 | [7],[10] | 18,317 | [6],[11],[13] | 7,731 | [12],[13] | |
of which cash and balances with central banks | 9,656 | [10] | 13,775 | [11] | 2,509 | [12] | |
of which: due from banks | 4,721 | [10] | 4,065 | [11] | 5,213 | [12] | |
of which: money market paper | SFr 169 | [8],[10] | SFr 477 | [8],[11] | SFr 9 | [9],[12] | |
[1] | Includes dividends received from associates | ||||||
[2] | CHF 2,434 million, CHF 2,662 million and CHF 3,963 million of cash and cash equivalents (mainly reflected in Due from banks) were restricted as of 31 December 2017, 31 December 2016 and 31 December 2015, respectively. Refer to Note 23 for more information. | ||||||
[3] | Money market paper is included in the balance sheet under Trading portfolio assets (31 December 2017: CHF 131 million, 31 December 2016: CHF 75 million, 31 December 2015: CHF 795 million), Financial assets available for sale (31 December 2017: CHF 23 million, 31 December 2016: CHF 430 million, 31 December 2015: CHF 129 million) and Financial assets designated at fair value (31 December 2017: CHF 1,894 million, 31 December 2016: CHF 959 million, 31 December 2015: CHF 0 million). | ||||||
[4] | Includes dividends received from associates. | ||||||
[5] | Includes a transfer of cash and cash equivalents from UBS AG to UBS Switzerland AG of CHF 33,283 million. Refer to "Establishment of UBS Switzerland AG" in the "Legal entity financial and regulatory information" section of the UBS Group AG Annual Report 2015 for more information on the business transfer from UBS AG to UBS Switzerland AG. | ||||||
[6] | CHF 2,662 million of cash and cash equivalents were restricted. | ||||||
[7] | CHF 2,434 million of cash and cash equivalents were restricted. | ||||||
[8] | Money market paper is included in the balance sheet under Trading portfolio assets, Financial investments available for sale and Financial assets designated at fair value. | ||||||
[9] | Money market paper is included in the balance sheet under Trading portfolio assets and Financial investments available for sale. | ||||||
[10] | Cash flows generally represent a third-party view from a UBS AG consolidated perspective. | ||||||
[11] | Cash flows generally represent a third-party view from a UBS AG (consolidated) perspective. As a consequence, the non-consolidated UBS Preferred Funding Trusts IV and V are not presented in this table. For the year ended 31 December 2016, these trusts had cash inflows of CHF 1,317 million from operating activities and an equivalent cash outflow for dividends paid to preferred note holders. | ||||||
[12] | Cash flows generally represent a third-party view from a UBS AG (consolidated) perspective. As a consequence, the non-consolidated UBS Preferred Funding Trusts IV and V are not presented in this table. For the year ended 31 December 2015, these trusts had cash inflows of CHF 77 million from operating activities and an equivalent cash outflow for dividends paid to preferred note holders. | ||||||
[13] | CHF 3,963 million of cash and cash equivalents were restricted. |
Events after the reporting p256
Events after the reporting period (Narrative) (Detail 1) SFr in Millions | 12 Months Ended | |||
Dec. 31, 2017CHF (SFr) | Dec. 31, 2016CHF (SFr) | Dec. 31, 2015CHF (SFr) | ||
Disclosure Of Non-adjusting Events After Reporting Period [Line Items] | ||||
Assets under management | [1] | SFr 1,824,000 | SFr 1,649,000 | |
Pre-tax gain | 5,268 | 4,090 | SFr 5,489 | |
Changes to the Pension Fund of UBS in Switzerland | ||||
Disclosure Of Non-adjusting Events After Reporting Period [Line Items] | ||||
Maximum future payments to mitigate the effects of the reduction of the conversion rate on future pensions | SFr 720 | |||
Number of installments to be made for future pension payments | 3 | |||
Pre-tax gain | SFr 225 | |||
Increase (decrease) in total equity | (200) | |||
UBS AG | ||||
Disclosure Of Non-adjusting Events After Reporting Period [Line Items] | ||||
Assets under management | [1] | 1,824,000 | 1,649,000 | |
Pre-tax gain | 4,998 | SFr 4,069 | SFr 5,407 | |
UBS AG | Changes to the Pension Fund of UBS in Switzerland | ||||
Disclosure Of Non-adjusting Events After Reporting Period [Line Items] | ||||
Maximum future payments to mitigate the effects of the reduction of the conversion rate on future pensions | SFr 450 | |||
Number of installments to be made for future pension payments | 3 | |||
Pre-tax gain | SFr 123 | |||
Increase (decrease) in total equity | SFr (130) | |||
[1] | Certain account types were corrected during 2017. As a result, invested assets as of 31 December 2016 and 31 December 2015 were corrected by CHF 12 billion and CHF 11 billion, respectively. |
Events after the reporting p257
Events after the reporting period (Narrative) (Detail 2) - Adjusting events subsequent to the publication of the unaudited fourth quarter 2017 report SFr / shares in Units, SFr in Millions | 12 Months Ended |
Dec. 31, 2017CHF (SFr)SFr / shares | |
Disclosure Of Adjusting Events After Reporting Period [Line Items] | |
Increase (decrease) in operating profit before tax | SFr (141) |
Increase (decrease) in net profit attributable to shareholders | SFr (112) |
Increase (decrease) in basic earnings per share | SFr / shares | SFr (0.03) |
Increase (decrease) in diluted earnings per share | SFr / shares | SFr (0.03) |
UBS AG | |
Disclosure Of Adjusting Events After Reporting Period [Line Items] | |
Increase (decrease) in operating profit before tax | SFr (141) |
Increase (decrease) in net profit attributable to shareholders | SFr (112) |
Main differences between IFR258
Main differences between IFRS and Swiss GAAP (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Main Differences Between IFRS And Swiss GAAP [Line Items] | |
Goodwill, maximum useful life (in years) | 5 years |
Goodwill, maximum useful life for justified exceptional cases (in years) | 10 years |
Intangible assets with indefinite lives, maximum useful life (in years) | 5 years |
Intangible assets with indefinite lives, maximum useful life for justified exceptional cases (in years) | 10 years |
UBS AG [Member] | |
Main Differences Between IFRS And Swiss GAAP [Line Items] | |
Goodwill, maximum useful life (in years) | 5 years |
Goodwill, maximum useful life for justified exceptional cases (in years) | 10 years |
Intangible assets with indefinite lives, maximum useful life (in years) | 5 years |
Intangible assets with indefinite lives, maximum useful life for justified exceptional cases (in years) | 10 years |
MD&A - Risk management and c259
MD&A - Risk management and control - Credit Risk (Narrative) (Detail) - CHF (SFr) SFr in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of Credit Risk [Line Items] | ||
Maximum LTV ratio within the standard approval process for any type of mortgage | 80.00% | |
Lowest point of maximum LTV ratio for mortgages | 45.00% | |
Number of days past due to classify standard claims as non-performing | 90 days | |
Number of days past due to classify claims from certain specified retail portfolios as non-performing | 180 days | |
Carrying amount of foreclosed property | SFr 60 | SFr 51 |
UBS AG | ||
Disclosure of Credit Risk [Line Items] | ||
Maximum LTV ratio within the standard approval process for any type of mortgage | 80.00% | |
Lowest point of maximum LTV ratio for mortgages | 45.00% | |
Number of days past due to classify standard claims as non-performing | 90 days | |
Number of days past due to classify claims from certain specified retail portfolios as non-performing | 180 days | |
Carrying amount of foreclosed property | SFr 60 | SFr 51 |
MD&A - Risk management and c260
MD&A - Risk management and control - Credit Risk (Detail 1) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | [1] | SFr 883,335 | SFr 894,709 | |
Collective loan loss allowances | 13 | 12 | ||
Total impaired financial instruments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 371 | 411 | ||
Total impaired financial instruments | Gross impaired financial instruments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 1,275 | [2] | 1,235 | |
Total impaired financial instruments | Allowances and provisions | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | (694) | [2] | (653) | |
Total impaired financial instruments | Estimated liquidation proceeds of collateral | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | [3] | (210) | (171) | |
Loans (including amounts due from banks) | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 210 | 215 | ||
Loans (including amounts due from banks) | Gross impaired financial instruments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 1,076 | 975 | ||
Loans (including amounts due from banks) | Allowances and provisions | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | (661) | (599) | ||
Loans (including amounts due from banks) | Estimated liquidation proceeds of collateral | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | [3] | (206) | (161) | |
Guarantees and loan commitments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 161 | 195 | ||
Guarantees and loan commitments | Gross impaired financial instruments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 199 | 260 | ||
Guarantees and loan commitments | Allowances and provisions | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | (33) | (54) | ||
Guarantees and loan commitments | Estimated liquidation proceeds of collateral | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | [3] | (5) | (10) | |
Receivables classified under other assets | Gross impaired financial instruments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 352 | |||
UBS AG | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | [1] | 885,237 | 895,131 | |
Collective loan loss allowances | 13 | 12 | ||
UBS AG | Total impaired financial instruments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 371 | 411 | ||
UBS AG | Total impaired financial instruments | Gross impaired financial instruments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 1,275 | [2] | 1,235 | |
UBS AG | Total impaired financial instruments | Allowances and provisions | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | (694) | [2] | (653) | |
UBS AG | Total impaired financial instruments | Estimated liquidation proceeds of collateral | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | [3] | (210) | (171) | |
UBS AG | Loans (including amounts due from banks) | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 210 | 215 | ||
UBS AG | Loans (including amounts due from banks) | Gross impaired financial instruments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 1,076 | 975 | ||
UBS AG | Loans (including amounts due from banks) | Allowances and provisions | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | (661) | (599) | ||
UBS AG | Loans (including amounts due from banks) | Estimated liquidation proceeds of collateral | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | [3] | (206) | (161) | |
UBS AG | Guarantees and loan commitments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 161 | 195 | ||
UBS AG | Guarantees and loan commitments | Gross impaired financial instruments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | 199 | 260 | ||
UBS AG | Guarantees and loan commitments | Allowances and provisions | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | (33) | (54) | ||
UBS AG | Guarantees and loan commitments | Estimated liquidation proceeds of collateral | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | [3] | (5) | SFr (10) | |
UBS AG | Receivables classified under other assets | Gross impaired financial instruments | ||||
Disclosure Of Financial Assets That Are Impaired [Line Items] | ||||
Total financial instruments | SFr 352 | |||
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | |||
[2] | Includes CHF 13 million in collective loan loss allowances (31 December 2016: CHF 12 million). Does not include exposures within Other assets of CHF 352 million, with associated allowances of CHF 19 million. | |||
[3] | Does not include oil and gas reserves related to reserve-based lending. |
MD&A - Risk management and c261
MD&A - Risk management and control - Credit Risk (Detail 2) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | [1],[2] | SFr 319,568 | SFr 306,325 |
Mortgage loans IFRS carrying value | 153,729 | 153,006 | |
Total past due but not impaired | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 1,059 | 887 | |
1-10 days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 126 | 54 | |
11-30 days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 108 | 113 | |
31-60 days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 126 | 68 | |
61-90 days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 192 | 10 | |
>90 days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 507 | 641 | |
>90 days | of which: mortgage loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | [3] | 336 | 542 |
UBS AG | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | [1],[2] | 321,718 | 307,004 |
Mortgage loans IFRS carrying value | 153,729 | 153,006 | |
UBS AG | Total past due but not impaired | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 1,059 | 887 | |
UBS AG | 1-10 days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 126 | 54 | |
UBS AG | 11-30 days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 108 | 113 | |
UBS AG | 31-60 days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 126 | 68 | |
UBS AG | 61-90 days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 192 | 10 | |
UBS AG | >90 days | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | 507 | 641 | |
UBS AG | >90 days | of which: mortgage loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total | [3] | SFr 336 | SFr 542 |
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | ||
[2] | Includes finance lease receivables of CHF 1.1 billion as of 31 December 2017 (31 December 2016: CHF 1.0 billion). Refer to Notes 10 and 31 for more information. | ||
[3] | Total mortgage loans IFRS carrying value was CHF 153,729 million (31 December 2016: CHF 153,006 million). |
MD&A - Risk management and c262
MD&A - Risk management and control - Credit Risk (Detail 3) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Credit Risk [Line Items] | |
Internal UBS rating scale and mapping of external ratings | Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
UBS AG | |
Disclosure of Credit Risk [Line Items] | |
Internal UBS rating scale and mapping of external ratings | Internal UBS rating scale and mapping of external ratings Internal UBS rating 1-year PD range in % Description Moody’s Investors Service mapping Standard & Poor’s mapping Fitch mapping 0 and 1 0.00–0.02 Investment grade Aaa AAA AAA 2 0.02–0.05 Aa1 to Aa3 AA+ to AA– AA+ to AA– 3 0.05–0.12 A1 to A3 A+ to A– A+ to A– 4 0.12–0.25 Baa1 to Baa2 BBB+ to BBB BBB+ to BBB 5 0.25–0.50 Baa3 BBB– BBB– 6 0.50–0.80 Sub-investment grade Ba1 BB+ BB+ 7 0.80–1.30 Ba2 BB BB 8 1.30–2.10 Ba3 BB– BB– 9 2.10–3.50 B1 B+ B+ 10 3.50–6.00 B2 B B 11 6.00–10.00 B3 B– B– 12 10.00–17.00 Caa CCC CCC 13 >17 Ca to C CC to C CC to C Counterparty is in default Default Defaulted D D |
MD&A - Risk management and c263
MD&A - Risk management and control - Market Risk (Narrative) (Detail) SFr in Millions | 12 Months Ended |
Dec. 31, 2017CHF (SFr) | |
Disclosure of Market Risk [Line Items] | |
Fair value sensitivity of target replication portfolios for equity, goodwill and real estate in Swiss francs (per basis points) | SFr 5 |
Fair value sensitivity of target replication portfolios for equity, goodwill and real estate in USD (per basis points) | SFr 11 |
Interest rate sensitivity impact arises from debt investments classified as Financial assets available for sale (excluding hedges and excluding investments in funds accounted for as available for sale) to a 1-basis-point parallel increase in the yields of the respective instruments | approximately negative CHF 2 million |
Year-on-year increase(decrease) of interest rate sensitivity impact (per basis points) arises from debt investments classified as Financial assets available for sale (excluding hedges and excluding investments in funds accounted for as available for sale) | SFr (1) |
Impact on equity due to a 1-basis point increase of underlying LIBOR curves | (20) |
Equity instruments held as financial assets available for sale and as investments in associates | SFr 1,600 |
Holding period used to calculate VaR for internal management purpose | 1 day |
Confidence level applied for calculating VaR for internal management purpose. | 95.00% |
Holding period used to calculate regulatory VaR | 10 days |
Confidence level applied for calculating regulatory VaR. | 99.00% |
Risk factor returns used to calculate VaR with 10-day holding period | 10 days |
Holding period used to calculate stressed VaR (SVAR) | 10 days |
Confidence level applied for calculating SVaR | 99.00% |
Historical data set used to calculate regulatory VaR | 5 years |
Historical data set used to calculate SVaR | 1 January 2007 to the present. |
Regulatory threshold for eligible capital | 20.00% |
UBS AG | |
Disclosure of Market Risk [Line Items] | |
Fair value sensitivity of target replication portfolios for equity, goodwill and real estate in Swiss francs (per basis points) | SFr 5 |
Fair value sensitivity of target replication portfolios for equity, goodwill and real estate in USD (per basis points) | SFr 11 |
Interest rate sensitivity impact arises from debt investments classified as Financial assets available for sale (excluding hedges and excluding investments in funds accounted for as available for sale) to a 1-basis-point parallel increase in the yields of the respective instruments | approximately negative CHF 2 million |
Year-on-year increase(decrease) of interest rate sensitivity impact (per basis points) arises from debt investments classified as Financial assets available for sale (excluding hedges and excluding investments in funds accounted for as available for sale) | SFr (1) |
Impact on equity due to a 1-basis point increase of underlying LIBOR curves | (20) |
Equity instruments held as financial assets available for sale and as investments in associates | SFr 1,600 |
Holding period used to calculate VaR for internal management purpose | 1 day |
Confidence level applied for calculating VaR for internal management purpose. | 95.00% |
Holding period used to calculate regulatory VaR | 10 days |
Confidence level applied for calculating regulatory VaR. | 99.00% |
Risk factor returns used to calculate VaR with 10-day holding period | 10 days |
Holding period used to calculate stressed VaR (SVAR) | 10 days |
Confidence level applied for calculating SVaR | 99.00% |
Historical data set used to calculate regulatory VaR | 5 years |
Historical data set used to calculate SVaR | 1 January 2007 to the present. |
Regulatory threshold for eligible capital | 20.00% |
MD&A - Risk management and c264
MD&A - Risk management and control - Market Risk (Detail 1) - CHF (SFr) SFr in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Value At Risk [Line Items] | |||
Management VaR | [1] | SFr 10 | SFr 11 |
Diversification effect | [1],[2],[3] | (6) | (8) |
Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 8 |
CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 6 |
CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 4 |
Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 8 |
Min. | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Min. | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Min. | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Min. | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Min. | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 5 |
Min. | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Min. | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 5 |
Min. | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 3 |
Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 18 | 18 |
Max. | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Max. | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Max. | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Max. | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Max. | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 17 | 18 |
Max. | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Max. | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 9 |
Max. | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 11 | 11 |
Diversification effect | [1],[2],[3] | (8) | (10) |
Average | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Average | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 0 |
Average | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Average | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Average | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 9 | 9 |
Average | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Average | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 7 |
Average | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 4 |
Equity | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 4 |
Diversification effect | [1],[2],[3] | (1) | 0 |
Equity | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Equity | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Equity | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Equity | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Equity | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 5 |
Equity | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Equity | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Equity | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 0 |
Equity | Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Equity | Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 14 | 15 |
Equity | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 5 |
Interest rates | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 11 |
Diversification effect | [1],[2],[3] | (6) | (9) |
Interest rates | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Interest rates | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Interest rates | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Interest rates | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Interest rates | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 7 | 8 |
Interest rates | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Interest rates | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 7 |
Interest rates | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 4 |
Interest rates | Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 9 |
Interest rates | Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 12 | 15 |
Interest rates | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 9 | 11 |
Credit spreads | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 5 |
Diversification effect | [1],[2],[3] | (4) | (3) |
Credit spreads | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Credit spreads | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Credit spreads | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Credit spreads | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Credit spreads | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 3 |
Credit spreads | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Credit spreads | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
Credit spreads | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
Credit spreads | Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 3 |
Credit spreads | Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 6 |
Credit spreads | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 4 |
Foreign exchange | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 2 |
Diversification effect | [1],[2],[3] | (1) | (1) |
Foreign exchange | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Foreign exchange | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Foreign exchange | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Foreign exchange | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Foreign exchange | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
Foreign exchange | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Foreign exchange | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Foreign exchange | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 1 |
Foreign exchange | Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Foreign exchange | Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
Foreign exchange | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
Commodities | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
Diversification effect | [1],[2],[3] | 0 | 0 |
Commodities | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
Commodities | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 2 |
Commodities | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
UBS AG | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 10 | 11 |
Diversification effect | [1],[2],[3] | (6) | (8) |
UBS AG | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 8 |
UBS AG | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 6 |
UBS AG | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 4 |
UBS AG | Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 8 |
UBS AG | Min. | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Min. | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Min. | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Min. | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Min. | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 5 |
UBS AG | Min. | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Min. | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 5 |
UBS AG | Min. | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 3 |
UBS AG | Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 18 | 18 |
UBS AG | Max. | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Max. | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Max. | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Max. | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Max. | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 17 | 18 |
UBS AG | Max. | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Max. | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 9 |
UBS AG | Max. | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
UBS AG | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 11 | 11 |
Diversification effect | [1],[2],[3] | (8) | (10) |
UBS AG | Average | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Average | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 0 |
UBS AG | Average | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Average | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Average | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 9 | 9 |
UBS AG | Average | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Average | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 7 |
UBS AG | Average | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 4 |
UBS AG | Equity | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 4 |
Diversification effect | [1],[2],[3] | (1) | 0 |
UBS AG | Equity | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Equity | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Equity | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Equity | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Equity | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 5 |
UBS AG | Equity | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Equity | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Equity | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 0 |
UBS AG | Equity | Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Equity | Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 14 | 15 |
UBS AG | Equity | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 5 |
UBS AG | Interest rates | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 11 |
Diversification effect | [1],[2],[3] | (6) | (9) |
UBS AG | Interest rates | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Interest rates | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Interest rates | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Interest rates | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Interest rates | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 7 | 8 |
UBS AG | Interest rates | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Interest rates | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 7 |
UBS AG | Interest rates | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 4 |
UBS AG | Interest rates | Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 9 |
UBS AG | Interest rates | Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 12 | 15 |
UBS AG | Interest rates | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 9 | 11 |
UBS AG | Credit spreads | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 5 |
Diversification effect | [1],[2],[3] | (4) | (3) |
UBS AG | Credit spreads | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Credit spreads | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Credit spreads | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Credit spreads | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Credit spreads | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 3 |
UBS AG | Credit spreads | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Credit spreads | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
UBS AG | Credit spreads | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
UBS AG | Credit spreads | Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 3 |
UBS AG | Credit spreads | Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 6 |
UBS AG | Credit spreads | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 4 |
UBS AG | Foreign exchange | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 2 |
Diversification effect | [1],[2],[3] | (1) | (1) |
UBS AG | Foreign exchange | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Foreign exchange | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Foreign exchange | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Foreign exchange | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Foreign exchange | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
UBS AG | Foreign exchange | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Foreign exchange | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Foreign exchange | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 1 |
UBS AG | Foreign exchange | Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Foreign exchange | Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
UBS AG | Foreign exchange | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
UBS AG | Commodities | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
Diversification effect | [1],[2],[3] | 0 | 0 |
UBS AG | Commodities | Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Wealth Management Americas | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Personal & Corporate Banking | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Asset Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Investment Bank | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
UBS AG | Commodities | CC - Services | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | CC - Group ALM | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | CC - Non-core and Legacy Portfolio | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Min. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Max. | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 2 |
UBS AG | Commodities | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | SFr 2 | SFr 1 |
[1] | Statistics at individual levels may not be summed to deduce the corresponding aggregate figures. The minima and maxima for each level may well occur on different days, and likewise, the VaR for each business line or risk type, being driven by the extreme loss tail of the corresponding distribution of simulated profits and losses for that business line or risk type, may well be driven by different days in the historical time series, rendering invalid the simple summation of figures to arrive at the aggregate total. | ||
[2] | As the minimum and maximum occur on different days for different business divisions and Corporate Center, it is not meaningful to calculate a portfolio diversification effect. | ||
[3] | Difference between the sum of the standalone VaR for the business divisions and Corporate Center units and the VaR for the Group as a whole. |
MD&A - Risk management and c265
MD&A - Risk management and control - Market Risk (Detail 2) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
-200 bps | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | SFr (200.4) | SFr 517.1 |
-200 bps | of which: Wealth Management Americas | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 144.8 | 730.5 |
-200 bps | of which: Investment Bank | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 32.9 | 26.3 |
-200 bps | of which: CC - Group ALM | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (272.4) | (238.8) |
-200 bps | of which: CC - Non-core and Legacy Portfolio | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (106.2) | (1.2) |
-200 bps | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (31.8) | (13) |
-200 bps | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (142) | (109) |
-200 bps | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (57.6) | (184.5) |
-200 bps | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 26.6 | 823.2 |
-200 bps | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 4.4 | 0.5 |
-100 bps | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (162.5) | 149.4 |
-100 bps | of which: Wealth Management Americas | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 59.1 | 325.8 |
-100 bps | of which: Investment Bank | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 18.3 | 14.3 |
-100 bps | of which: CC - Group ALM | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (188.1) | (192.3) |
-100 bps | of which: CC - Non-core and Legacy Portfolio | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (52.1) | 1.2 |
-100 bps | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (31.8) | (13) |
-100 bps | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (90.5) | (91.9) |
-100 bps | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (55.4) | (103) |
-100 bps | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 14.4 | 358.9 |
-100 bps | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0.8 | (1.7) |
+1 bp | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0 | (3.1) |
+1 bp | of which: Wealth Management Americas | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (1.8) | (2.9) |
+1 bp | of which: Investment Bank | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (0.2) | (0.1) |
+1 bp | of which: CC - Group ALM | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 1.4 | 0 |
+1 bp | of which: CC - Non-core and Legacy Portfolio | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0.5 | (0.1) |
+1 bp | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 1 | 0.5 |
+1 bp | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0.2 | 0 |
+1 bp | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0.1 | (0.1) |
+1 bp | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (1.3) | (3.4) |
+1 bp | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0 | 0 |
+100 bps | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (6) | (318.1) |
+100 bps | of which: Wealth Management Americas | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (175.5) | (286.4) |
+100 bps | of which: Investment Bank | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (15.4) | (12.7) |
+100 bps | of which: CC - Group ALM | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 138.6 | (10.6) |
+100 bps | of which: CC - Non-core and Legacy Portfolio | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 46.6 | (7.3) |
+100 bps | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 97.7 | 44.8 |
+100 bps | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 15.2 | (2.5) |
+100 bps | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 11.2 | (9.9) |
+100 bps | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (135.1) | (347.2) |
+100 bps | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 5 | (3.3) |
+200 bps | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (26.7) | (651.6) |
+200 bps | of which: Wealth Management Americas | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (362.3) | (583.8) |
+200 bps | of which: Investment Bank | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (30.8) | (25.9) |
+200 bps | of which: CC - Group ALM | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 279.8 | (24.2) |
+200 bps | of which: CC - Non-core and Legacy Portfolio | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 87.3 | (15.6) |
+200 bps | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 191.2 | 89.3 |
+200 bps | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 31.1 | (2.6) |
+200 bps | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 21.3 | (27.7) |
+200 bps | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (280.6) | (704.3) |
+200 bps | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 10.3 | (6.3) |
UBS AG | -200 bps | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (200.4) | 517.1 |
UBS AG | -200 bps | of which: Wealth Management Americas | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 144.8 | 730.5 |
UBS AG | -200 bps | of which: Investment Bank | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 32.9 | 26.3 |
UBS AG | -200 bps | of which: CC - Group ALM | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (272.4) | (238.8) |
UBS AG | -200 bps | of which: CC - Non-core and Legacy Portfolio | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (106.2) | (1.2) |
UBS AG | -200 bps | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (31.8) | (13) |
UBS AG | -200 bps | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (142) | (109) |
UBS AG | -200 bps | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (57.6) | (184.5) |
UBS AG | -200 bps | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 26.6 | 823.2 |
UBS AG | -200 bps | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 4.4 | 0.5 |
UBS AG | -100 bps | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (162.5) | 149.4 |
UBS AG | -100 bps | of which: Wealth Management Americas | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 59.1 | 325.8 |
UBS AG | -100 bps | of which: Investment Bank | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 18.3 | 14.3 |
UBS AG | -100 bps | of which: CC - Group ALM | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (188.1) | (192.3) |
UBS AG | -100 bps | of which: CC - Non-core and Legacy Portfolio | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (52.1) | 1.2 |
UBS AG | -100 bps | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (31.8) | (13) |
UBS AG | -100 bps | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (90.5) | (91.9) |
UBS AG | -100 bps | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (55.4) | (103) |
UBS AG | -100 bps | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 14.4 | 358.9 |
UBS AG | -100 bps | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0.8 | (1.7) |
UBS AG | +1 bp | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0 | (3.1) |
UBS AG | +1 bp | of which: Wealth Management Americas | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (1.8) | (2.9) |
UBS AG | +1 bp | of which: Investment Bank | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (0.2) | (0.1) |
UBS AG | +1 bp | of which: CC - Group ALM | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 1.4 | 0 |
UBS AG | +1 bp | of which: CC - Non-core and Legacy Portfolio | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0.5 | (0.1) |
UBS AG | +1 bp | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 1 | 0.5 |
UBS AG | +1 bp | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0.2 | 0 |
UBS AG | +1 bp | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0.1 | (0.1) |
UBS AG | +1 bp | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (1.3) | (3.4) |
UBS AG | +1 bp | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 0 | 0 |
UBS AG | +100 bps | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (6) | (318.1) |
UBS AG | +100 bps | of which: Wealth Management Americas | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (175.5) | (286.4) |
UBS AG | +100 bps | of which: Investment Bank | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (15.4) | (12.7) |
UBS AG | +100 bps | of which: CC - Group ALM | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 138.6 | (10.6) |
UBS AG | +100 bps | of which: CC - Non-core and Legacy Portfolio | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 46.6 | (7.3) |
UBS AG | +100 bps | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 97.7 | 44.8 |
UBS AG | +100 bps | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 15.2 | (2.5) |
UBS AG | +100 bps | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 11.2 | (9.9) |
UBS AG | +100 bps | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (135.1) | (347.2) |
UBS AG | +100 bps | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 5 | (3.3) |
UBS AG | +200 bps | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (26.7) | (651.6) |
UBS AG | +200 bps | of which: Wealth Management Americas | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (362.3) | (583.8) |
UBS AG | +200 bps | of which: Investment Bank | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (30.8) | (25.9) |
UBS AG | +200 bps | of which: CC - Group ALM | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 279.8 | (24.2) |
UBS AG | +200 bps | of which: CC - Non-core and Legacy Portfolio | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 87.3 | (15.6) |
UBS AG | +200 bps | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 191.2 | 89.3 |
UBS AG | +200 bps | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 31.1 | (2.6) |
UBS AG | +200 bps | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | 21.3 | (27.7) |
UBS AG | +200 bps | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | (280.6) | (704.3) |
UBS AG | +200 bps | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Effect on fair value of interest rate-sensitive banking book positions | SFr 10.3 | SFr (6.3) |
MD&A - Capital management (Narr
MD&A - Capital management (Narrative) (Detail) SFr in Billions | 12 Months Ended |
Dec. 31, 2017CHF (SFr) | |
Disclosure Of Capital Management [Line Items] | |
TLAC-eligible senior unsecured notes issued | SFr 10.4 |
Call of non-Basel III-compliance tier 1 and 2 capital instruments | 2.7 |
Increase (decrease) in fully-applied CET1 capital | 2 |
Increase(decrease) in fully-applied loss-absorbing AT1 capital | 0.4 |
Fully-applied loss-absorbing AT1 capital | 9.2 |
Gone concern loss-absorbing capacity on a fully applied basis | 36.4 |
TLAC-eligible senior unsecured debt included in gone concern loss-absorbing capacity | 27.2 |
Increase in Gone concern loss-absorbing capacity on a fully applied basis | 7.1 |
Deferred Contingent Capital Plan | |
Disclosure Of Capital Management [Line Items] | |
High-trigger loss-absorbing additional tier one capital instruments issued | 0.4 |
UBS AG | |
Disclosure Of Capital Management [Line Items] | |
TLAC-eligible senior unsecured notes issued | 10.4 |
Call of non-Basel III-compliance tier 1 and 2 capital instruments | SFr 2.7 |
MD&A - Capital management (Deta
MD&A - Capital management (Detail 1) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | SFr 51,271 | SFr 54,302 | SFr 57,308 | SFr 54,368 | |
Phase-in deduction applied | 80.00% | 60.00% | |||
Goodwill related to significant investments in financial institutions | SFr 350 | SFr 342 | |||
Swiss SRB including transitional arrangements (phase-in) | |||||
Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | 51,271 | 54,302 | |||
Equity attributable to non-controlling interests | (57) | (682) | |||
Deferred tax assets recognized for tax loss carry-forwards | [1] | (4,637) | (5,042) | ||
Deferred tax assets on temporary differences, excess over threshold | (489) | (741) | |||
Goodwill, net of tax | [1],[2] | (5,183) | (3,959) | ||
Intangible assets, net of tax | (214) | (241) | |||
Compensation- and own shares-related components | (1,620) | (1,589) | |||
Expected losses on advanced internal ratings-based portfolio less general provisions | (634) | (356) | |||
Unrealized (gains) / losses from cash flow hedges, net of tax | (351) | (972) | |||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | 133 | (294) | |||
Unrealized gains related to financial assets available for sale, net of tax | (193) | (262) | |||
Prudential valuation adjustments | (59) | (68) | |||
Consolidation scope | (44) | (129) | |||
Accruals for proposed dividends to shareholders | (2,438) | (2,250) | |||
Other | 10 | 71 | |||
Total common equity tier 1 capital | 35,494 | 37,788 | |||
Swiss SRB as of 1.1.20 | |||||
Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | 51,271 | 54,302 | |||
Equity attributable to non-controlling interests | (57) | (682) | |||
Deferred tax assets recognized for tax loss carry-forwards | [1] | (5,797) | (8,403) | ||
Deferred tax assets on temporary differences, excess over threshold | (857) | (1,835) | |||
Goodwill, net of tax | [1],[2] | (6,479) | (6,599) | ||
Intangible assets, net of tax | (214) | (241) | |||
Compensation- and own shares-related components | (1,620) | (1,589) | |||
Expected losses on advanced internal ratings-based portfolio less general provisions | (634) | (356) | |||
Unrealized (gains) / losses from cash flow hedges, net of tax | (351) | (972) | |||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | 133 | (294) | |||
Unrealized gains related to financial assets available for sale, net of tax | (193) | (262) | |||
Prudential valuation adjustments | (59) | (68) | |||
Consolidation scope | (44) | (129) | |||
Accruals for proposed dividends to shareholders | (2,438) | (2,250) | |||
Other | 10 | 71 | |||
Total common equity tier 1 capital | 32,671 | 30,693 | |||
UBS AG | |||||
Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | SFr 50,775 | SFr 54,343 | SFr 57,243 | SFr 54,165 | |
Phase-in deduction applied | 80.00% | ||||
Goodwill related to significant investments in financial institutions | SFr 350 | ||||
UBS AG | Swiss SRB including transitional arrangements (phase-in) | |||||
Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | 50,775 | ||||
Equity attributable to non-controlling interests | (57) | ||||
Deferred tax assets recognized for tax loss carry-forwards | [1] | (4,637) | |||
Deferred tax assets on temporary differences, excess over threshold | (403) | ||||
Goodwill, net of tax | [1],[2] | (5,183) | |||
Intangible assets, net of tax | (214) | ||||
Expected losses on advanced internal ratings-based portfolio less general provisions | (634) | ||||
Unrealized (gains) / losses from cash flow hedges, net of tax | (351) | ||||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | 133 | ||||
Unrealized gains related to financial assets available for sale, net of tax | (193) | ||||
Prudential valuation adjustments | (59) | ||||
Consolidation scope | (44) | ||||
Accruals for proposed dividends to shareholders | (3,065) | ||||
Other | (26) | ||||
Total common equity tier 1 capital | 36,042 | ||||
UBS AG | Swiss SRB as of 1.1.20 | |||||
Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | 50,775 | ||||
Equity attributable to non-controlling interests | (57) | ||||
Deferred tax assets recognized for tax loss carry-forwards | [1] | (5,797) | |||
Deferred tax assets on temporary differences, excess over threshold | (749) | ||||
Goodwill, net of tax | [1],[2] | (6,479) | |||
Intangible assets, net of tax | (214) | ||||
Expected losses on advanced internal ratings-based portfolio less general provisions | (634) | ||||
Unrealized (gains) / losses from cash flow hedges, net of tax | (351) | ||||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | 133 | ||||
Unrealized gains related to financial assets available for sale, net of tax | (193) | ||||
Prudential valuation adjustments | (59) | ||||
Consolidation scope | (44) | ||||
Accruals for proposed dividends to shareholders | (3,065) | ||||
Other | (26) | ||||
Total common equity tier 1 capital | SFr 33,240 | ||||
[1] | As of 31 December 2017, the phase-in deduction applied was 80%; as of 31 December 2016, the phase-in deduction applied was 60%. | ||||
[2] | Includes goodwill related to significant investments in financial institutions of CHF 350 million (31 December 2016: CHF 342 million). |
MD&A - Capital management (D268
MD&A - Capital management (Detail 2) - CHF (SFr) SFr in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | SFr 51,271 | SFr 54,302 | SFr 57,308 | SFr 54,368 | |
Swiss SRB including transitional arrangements (phase-in) | |||||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | 51,271 | 54,302 | |||
Equity attributable to preferred noteholders and non-controlling interest | (57) | ||||
Deferred tax assets recognized for tax loss carry-forwards | [1] | (4,637) | (5,042) | ||
Deferred tax assets on temporary differences, excess over threshold | (489) | (741) | |||
Goodwill, net of tax | [1],[2] | (5,183) | (3,959) | ||
Intangible assets, net of tax | (214) | (241) | |||
Compensation- and own shares-related components | (1,620) | (1,589) | |||
Expected losses on advanced internal ratings-based portfolio less general provisions | (634) | (356) | |||
Unrealized (gains) / losses from cash flow hedges, net of tax | (351) | (972) | |||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | 133 | (294) | |||
Unrealized gains related to financial assets available for sale, net of tax | (193) | (262) | |||
Prudential valuation adjustments | (59) | (68) | |||
Consolidation scope | (44) | (129) | |||
Accruals for proposed dividends to shareholders | (2,438) | (2,250) | |||
Other | 10 | 71 | |||
Total common equity tier 1 capital | 35,494 | 37,788 | |||
Swiss SRB as of 1.1.20 | |||||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | 51,271 | 54,302 | |||
Equity attributable to preferred noteholders and non-controlling interest | (57) | ||||
Deferred tax assets recognized for tax loss carry-forwards | [1] | (5,797) | (8,403) | ||
Deferred tax assets on temporary differences, excess over threshold | (857) | (1,835) | |||
Goodwill, net of tax | [1],[2] | (6,479) | (6,599) | ||
Intangible assets, net of tax | (214) | (241) | |||
Compensation- and own shares-related components | (1,620) | (1,589) | |||
Expected losses on advanced internal ratings-based portfolio less general provisions | (634) | (356) | |||
Unrealized (gains) / losses from cash flow hedges, net of tax | (351) | (972) | |||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | 133 | (294) | |||
Unrealized gains related to financial assets available for sale, net of tax | (193) | (262) | |||
Prudential valuation adjustments | (59) | (68) | |||
Consolidation scope | (44) | (129) | |||
Accruals for proposed dividends to shareholders | (2,438) | (2,250) | |||
Other | 10 | 71 | |||
Total common equity tier 1 capital | 32,671 | 30,693 | |||
UBS AG | |||||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | 50,775 | SFr 54,343 | SFr 57,243 | SFr 54,165 | |
UBS AG | Swiss SRB including transitional arrangements (phase-in) | |||||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | 50,775 | ||||
Equity attributable to preferred noteholders and non-controlling interest | (57) | ||||
Deferred tax assets recognized for tax loss carry-forwards | [1] | (4,637) | |||
Deferred tax assets on temporary differences, excess over threshold | (403) | ||||
Goodwill, net of tax | [1],[2] | (5,183) | |||
Intangible assets, net of tax | (214) | ||||
Expected losses on advanced internal ratings-based portfolio less general provisions | (634) | ||||
Unrealized (gains) / losses from cash flow hedges, net of tax | (351) | ||||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | 133 | ||||
Unrealized gains related to financial assets available for sale, net of tax | (193) | ||||
Prudential valuation adjustments | (59) | ||||
Consolidation scope | (44) | ||||
Accruals for proposed dividends to shareholders | (3,065) | ||||
Other | (26) | ||||
Total common equity tier 1 capital | 36,042 | ||||
UBS AG | Swiss SRB as of 1.1.20 | |||||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | 50,775 | ||||
Equity attributable to preferred noteholders and non-controlling interest | (57) | ||||
Deferred tax assets recognized for tax loss carry-forwards | [1] | (5,797) | |||
Deferred tax assets on temporary differences, excess over threshold | (749) | ||||
Goodwill, net of tax | [1],[2] | (6,479) | |||
Intangible assets, net of tax | (214) | ||||
Expected losses on advanced internal ratings-based portfolio less general provisions | (634) | ||||
Unrealized (gains) / losses from cash flow hedges, net of tax | (351) | ||||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | 133 | ||||
Unrealized gains related to financial assets available for sale, net of tax | (193) | ||||
Prudential valuation adjustments | (59) | ||||
Consolidation scope | (44) | ||||
Accruals for proposed dividends to shareholders | (3,065) | ||||
Other | (26) | ||||
Total common equity tier 1 capital | 33,240 | ||||
Differences | Swiss SRB including transitional arrangements (phase-in) | |||||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | 496 | ||||
Equity attributable to preferred noteholders and non-controlling interest | 0 | ||||
Deferred tax assets recognized for tax loss carry-forwards | 0 | ||||
Deferred tax assets on temporary differences, excess over threshold | (86) | ||||
Goodwill, net of tax | 0 | ||||
Intangible assets, net of tax | 0 | ||||
Compensation- and own shares-related components | (1,620) | ||||
Expected losses on advanced internal ratings-based portfolio less general provisions | 0 | ||||
Unrealized (gains) / losses from cash flow hedges, net of tax | 0 | ||||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | 0 | ||||
Unrealized gains related to financial assets available for sale, net of tax | 0 | ||||
Prudential valuation adjustments | 0 | ||||
Consolidation scope | 0 | ||||
Accruals for proposed dividends to shareholders | 627 | ||||
Other | 36 | ||||
Total common equity tier 1 capital | (548) | ||||
Differences | Swiss SRB as of 1.1.20 | |||||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | |||||
Total IFRS equity | 496 | ||||
Equity attributable to preferred noteholders and non-controlling interest | 0 | ||||
Deferred tax assets recognized for tax loss carry-forwards | 0 | ||||
Deferred tax assets on temporary differences, excess over threshold | (108) | ||||
Goodwill, net of tax | 0 | ||||
Intangible assets, net of tax | 0 | ||||
Compensation- and own shares-related components | (1,620) | ||||
Expected losses on advanced internal ratings-based portfolio less general provisions | 0 | ||||
Unrealized (gains) / losses from cash flow hedges, net of tax | 0 | ||||
Unrealized own credit related to financial liabilities designated at fair value, net of tax, and replacement values | 0 | ||||
Unrealized gains related to financial assets available for sale, net of tax | 0 | ||||
Prudential valuation adjustments | 0 | ||||
Consolidation scope | 0 | ||||
Accruals for proposed dividends to shareholders | 627 | ||||
Other | 36 | ||||
Total common equity tier 1 capital | SFr (569) | ||||
[1] | As of 31 December 2017, the phase-in deduction applied was 80%; as of 31 December 2016, the phase-in deduction applied was 60%. | ||||
[2] | Includes goodwill related to significant investments in financial institutions of CHF 350 million (31 December 2016: CHF 342 million). |
MD&A - UBS shares (Narrative) (
MD&A - UBS shares (Narrative) (Detail) - SFr / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of Shares [Line Items] | ||
Par Value Per Share | SFr 0.1 | SFr 0.1 |
UBS AG | ||
Disclosure of Shares [Line Items] | ||
Par Value Per Share | SFr 0.1 | SFr 0.1 |
2018 Balance sheet presentat270
2018 Balance sheet presentation changes (Detail) - CHF (SFr) SFr in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Assets | ||||||
Cash and balances with central banks | [1] | SFr 87,775 | SFr 107,767 | |||
Loans and advances to banks (formerly: Due from banks) | [1] | 13,739 | 13,156 | |||
Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) | [1] | 12,393 | 15,111 | |||
Reverse repurchase agreements (newly included in Receivables from securities financing transactions) | [1] | 77,240 | 66,246 | |||
Cash collateral receivables on derivative instruments | [1] | 23,434 | 26,664 | |||
Loans and advances to customers (formerly: Loans) | [1],[2] | 319,568 | 306,325 | |||
Financial assets held to maturity (superseded) | [1] | 9,166 | 9,289 | |||
Other financial assets measured at amortized cost (new line) | [1] | 27,913 | 18,504 | |||
Total financial assets measured at amortized cost | [1] | 571,226 | 563,063 | |||
Trading portfolio assets | 130,707 | 96,575 | ||||
Financial assets at fair value held for trading (formerly Trading portfolio assets) | [1] | 244,388 | 250,486 | |||
of which: assets pledged as collateral which may be sold or repledged by counterparties | 35,363 | 30,260 | ||||
Derivative financial instruments (formerly: Positive replacement values) | [1],[3],[4],[5] | 118,227 | 158,411 | |||
Financial assets designated at fair value | [1] | 58,933 | 65,353 | |||
Total financial assets measured at fair value through profit or loss | [1] | 59,055 | 65,483 | |||
Financial assets available for sale (superseded) | [1],[6] | 8,665 | 15,676 | |||
Investments in associates | 1,018 | 963 | SFr 954 | |||
Property, equipment and software | 8,829 | [7],[8] | 8,331 | [7],[8] | 7,695 | |
Goodwill and intangible assets | 6,398 | 6,556 | ||||
Deferred tax assets | 9,844 | 13,155 | ||||
Other assets (superseded) | 29,706 | 25,436 | ||||
Total assets | 915,642 | 935,016 | 942,819 | |||
Liabilities | ||||||
Amounts due to banks | 7,533 | [9],[10] | 10,645 | |||
Cash collateral on securities lent (newly included in Payables from securities financing transactions) | 1,789 | [9],[10] | 2,818 | |||
Repurchase agreements (newly included in Payables from securities financing transactions) | 15,255 | [9],[10] | 6,612 | |||
Cash collateral payables on derivative instruments | 30,247 | [9],[10] | 35,472 | |||
Customer deposits (formerly: Due to customers) | 408,999 | [9],[10] | 423,672 | |||
Debt issued measured at amortized cost | [11] | 139,551 | 103,649 | |||
Financial liabilities at fair value held for trading (formerly Trading portfolio liabilities) | 30,463 | [9],[10],[12],[13] | 22,824 | |||
Derivative financial instruments (formerly: Negative replacement values) | [3],[5],[14] | 116,133 | [9],[10],[12] | 153,810 | ||
Financial liabilities designated at fair value (superseded) | 54,202 | 55,017 | ||||
Provisions | 3,133 | 4,174 | ||||
Other liabilities (superseded) | 57,064 | 62,020 | ||||
Total liabilities | 864,371 | 880,714 | ||||
Total liabilities and equity | 915,642 | 935,016 | ||||
Revised presentation applicable beginning 2018 | ||||||
Assets | ||||||
Cash and balances with central banks | 87,775 | |||||
Loans and advances to banks (formerly: Due from banks) | 13,739 | |||||
Receivables from securities financing transactions (new line) | 89,633 | |||||
Cash collateral receivables on derivative instruments | 23,434 | |||||
Loans and advances to customers (formerly: Loans) | 318,509 | |||||
Other financial assets measured at amortized cost (new line) | 36,861 | |||||
Total financial assets measured at amortized cost | 569,950 | |||||
Financial assets at fair value held for trading (formerly Trading portfolio assets) | 126,144 | |||||
of which: assets pledged as collateral which may be sold or repledged by counterparties | 35,363 | |||||
Derivative financial instruments (formerly: Positive replacement values) | 118,227 | |||||
Financial assets at fair value not held for trading (new line) | 58,933 | |||||
Total financial assets measured at fair value through profit or loss | 303,304 | |||||
Financial assets measured at fair value through other comprehensive income (new line) | [15] | 8,665 | ||||
Investments in associates | 1,018 | |||||
Property, equipment and software | 8,829 | |||||
Goodwill and intangible assets | 6,398 | |||||
Deferred tax assets | 9,844 | |||||
Other non-financial assets (new line) | 7,633 | |||||
Total non-financial assets | 33,722 | |||||
Total assets | 915,642 | |||||
Liabilities | ||||||
Amounts due to banks | 7,533 | |||||
Payables from securities financing transactions (new line) | 17,044 | |||||
Cash collateral payables on derivative instruments | 30,247 | |||||
Customer deposits (formerly: Due to customers) | 408,999 | |||||
Debt issued measured at amortized cost | 139,551 | |||||
Other financial liabilities measured at amortized cost (new line) | 36,337 | |||||
Total financial liabilities measured at amortized cost | 639,711 | |||||
Financial liabilities at fair value held for trading (formerly Trading portfolio liabilities) | 30,463 | |||||
Derivative financial instruments (formerly: Negative replacement values) | 116,133 | |||||
Debt issued designated at fair value (new line) | 49,502 | |||||
Other financial liabilities designated at fair value (new line) | 16,223 | |||||
Total financial liabilities measured at fair value through profit or loss | 212,322 | |||||
Provisions | 3,133 | |||||
Other non-financial liabilities (new line) | 9,205 | |||||
Total non-financial liabilities | 12,338 | |||||
Total liabilities | 864,371 | |||||
Total liabilities and equity | 915,642 | |||||
UBS AG | ||||||
Assets | ||||||
Cash and balances with central banks | [1] | 87,775 | 107,767 | |||
Loans and advances to banks (formerly: Due from banks) | [1] | 13,693 | 13,125 | |||
Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) | [1] | 12,393 | 15,111 | |||
Reverse repurchase agreements (newly included in Receivables from securities financing transactions) | [1] | 77,240 | 66,246 | |||
Cash collateral receivables on derivative instruments | [1] | 23,434 | 26,664 | |||
Loans and advances to customers (formerly: Loans) | [1],[2] | 321,718 | 307,004 | |||
Financial assets held to maturity (superseded) | [1] | 9,166 | 9,289 | |||
Other financial assets measured at amortized cost (new line) | [1] | 27,986 | 18,519 | |||
Total financial assets measured at amortized cost | [1] | 573,405 | 563,727 | |||
Trading portfolio assets | 130,807 | 96,661 | ||||
Financial assets at fair value held for trading (formerly Trading portfolio assets) | [1] | 244,489 | 250,572 | |||
of which: assets pledged as collateral which may be sold or repledged by counterparties | 35,363 | 30,260 | ||||
Derivative financial instruments (formerly: Positive replacement values) | [1],[3],[4],[5] | 118,229 | 158,411 | |||
Financial assets designated at fair value | [1] | 58,556 | 65,024 | |||
Total financial assets measured at fair value through profit or loss | [1] | 58,678 | 65,155 | |||
Financial assets available for sale (superseded) | [1],[6] | 8,665 | 15,676 | |||
Investments in associates | 1,018 | 963 | 954 | |||
Property, equipment and software | 7,985 | [7],[16] | 8,297 | [7],[16] | 7,683 | |
Goodwill and intangible assets | 6,398 | 6,556 | ||||
Deferred tax assets | 9,783 | 13,144 | ||||
Other assets (superseded) | 29,505 | 25,412 | ||||
Total assets | 916,363 | 935,353 | SFr 943,256 | |||
Liabilities | ||||||
Amounts due to banks | 7,533 | [9],[10] | 10,645 | |||
Cash collateral on securities lent (newly included in Payables from securities financing transactions) | 1,789 | [9],[10] | 2,818 | |||
Repurchase agreements (newly included in Payables from securities financing transactions) | 15,255 | [9],[10] | 6,612 | |||
Cash collateral payables on derivative instruments | 30,247 | [9],[10] | 35,472 | |||
Customer deposits (formerly: Due to customers) | 447,141 | [9],[10] | 450,199 | |||
Debt issued measured at amortized cost | [11] | 104,749 | 78,998 | |||
Financial liabilities at fair value held for trading (formerly Trading portfolio liabilities) | 30,463 | [9],[10],[12],[13] | 22,825 | |||
Derivative financial instruments (formerly: Negative replacement values) | [3],[5],[14] | 116,134 | [9],[10],[12] | 153,810 | ||
Financial liabilities designated at fair value (superseded) | 54,202 | 55,017 | ||||
Provisions | 3,084 | 4,169 | ||||
Other liabilities (superseded) | 54,990 | 60,443 | ||||
Total liabilities | 865,588 | 881,009 | ||||
Total liabilities and equity | 916,363 | SFr 935,353 | ||||
UBS AG | Revised presentation applicable beginning 2018 | ||||||
Assets | ||||||
Cash and balances with central banks | 87,775 | |||||
Loans and advances to banks (formerly: Due from banks) | 13,693 | |||||
Receivables from securities financing transactions (new line) | 89,633 | |||||
Cash collateral receivables on derivative instruments | 23,434 | |||||
Loans and advances to customers (formerly: Loans) | 320,659 | |||||
Other financial assets measured at amortized cost (new line) | 36,935 | |||||
Total financial assets measured at amortized cost | 572,129 | |||||
Financial assets at fair value held for trading (formerly Trading portfolio assets) | 126,244 | |||||
of which: assets pledged as collateral which may be sold or repledged by counterparties | 35,363 | |||||
Derivative financial instruments (formerly: Positive replacement values) | 118,229 | |||||
Financial assets at fair value not held for trading (new line) | 58,556 | |||||
Total financial assets measured at fair value through profit or loss | 303,028 | |||||
Financial assets measured at fair value through other comprehensive income (new line) | [15] | 8,665 | ||||
Investments in associates | 1,018 | |||||
Property, equipment and software | 7,985 | |||||
Goodwill and intangible assets | 6,398 | |||||
Deferred tax assets | 9,783 | |||||
Other non-financial assets (new line) | 7,358 | |||||
Total non-financial assets | 32,541 | |||||
Total assets | 916,363 | |||||
Liabilities | ||||||
Amounts due to banks | 7,533 | |||||
Payables from securities financing transactions (new line) | 17,044 | |||||
Cash collateral payables on derivative instruments | 30,247 | |||||
Customer deposits (formerly: Due to customers) | 447,141 | |||||
Debt issued measured at amortized cost | 104,749 | |||||
Other financial liabilities measured at amortized cost (new line) | 37,133 | |||||
Total financial liabilities measured at amortized cost | 643,847 | |||||
Financial liabilities at fair value held for trading (formerly Trading portfolio liabilities) | 30,463 | |||||
Derivative financial instruments (formerly: Negative replacement values) | 116,134 | |||||
Debt issued designated at fair value (new line) | 49,502 | |||||
Other financial liabilities designated at fair value (new line) | 16,223 | |||||
Total financial liabilities measured at fair value through profit or loss | 212,323 | |||||
Provisions | 3,084 | |||||
Other non-financial liabilities (new line) | 6,335 | |||||
Total non-financial liabilities | 9,419 | |||||
Total liabilities | 865,588 | |||||
Total liabilities and equity | SFr 916,363 | |||||
[1] | As of 31 December 2017, CHF 134 billion of Loans, CHF 0 billion of Due from banks, CHF 2 billion of Reverse repurchase agreements, CHF 7 billion of Financial assets available for sale, CHF 24 billion of Financial assets designated at fair value and CHF 7 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. As of 31 December 2016, CHF 126 billion of Loans, CHF 0 billion of Due from banks, CHF 1 billion of Reverse repurchase agreements, CHF 10 billion of Financial assets available for sale, CHF 29 billion of Financial assets designated at fair value and CHF 8 billion of Financial assets held to maturity are expected to be recovered or settled after 12 months. | |||||
[2] | Includes finance lease receivables of CHF 1.1 billion as of 31 December 2017 (31 December 2016: CHF 1.0 billion). Refer to Notes 10 and 31 for more information. | |||||
[3] | Bifurcated embedded derivatives are presented on the same balance sheet lines as their host contracts and are excluded from this table. The replacement values and related notional values of these derivatives were not material for the periods presented. | |||||
[4] | PRV: Positive replacement value. | |||||
[5] | Refer to Note 24 for more information on netting arrangements. | |||||
[6] | Refer to Note 22c for more information on product type and fair value hierarchy categorization. | |||||
[7] | As of 31 December 2017, contractual commitments to purchase property in the future amounted to approximately CHF 0.3 billion (31 December 2016: approximately CHF 0.3 billion). | |||||
[8] | Includes CHF 28 million related to leased assets, mainly IT hardware and communication. | |||||
[9] | Except for trading portfolio liabilities and negative replacement values (see footnote 3), the amounts presented generally represent undiscounted cash flows of future interest and principal payments. | |||||
[10] | Non-financial liabilities such as deferred income, deferred tax liabilities, provisions and liabilities on employee compensation plans are not included in this analysis. | |||||
[11] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | |||||
[12] | Carrying value is fair value. Management believes that this best represents the cash flows that would have to be paid if these positions had to be settled or closed out. Refer to Note 12 for undiscounted cash flows of derivatives designated in hedge accounting relationships. | |||||
[13] | Contractual maturities of trading portfolio liabilities are: CHF 29.5 billion due within one month (2016: CHF 21.8 billion), CHF 0.8 billion due between one month and one year (2016: CHF 1.0 billion) and CHF 0.1 billion due between 1 and 5 years (2016: CHF 0.1 billion). | |||||
[14] | NRV: Negative replacement value. | |||||
[15] | Consists of debt instruments. | |||||
[16] | Includes CHF 22 million related to leased assets, mainly IT hardware and communication. |